ROFR Thread July to Sept 2021 *PLEASE SEE FIRST POST FOR INSTRUCTIONS & FORMATTING TOOL*

[FSUSammy]

Pleasantly surprised....

LilyJC---$151-$8570-50-BLT-Aug-4/20, 44/21, 50/22- sent 6/24, passed 7/28

That's awesome!!!! Hoping my BLT is next (think mine was sent 6/25) granted mine is a tad higher

 

[weatherman]

weatherman---$123-$30384-225-SSR-Jun-0/20, 413/21, 225/22, 225/23- sent 6/21, taken 7/28

The ROFR trickle continues... And after 37 days of waiting, it appears Mickey and the gang are still hungry for SSR points...

 

[andyc83]

Pleasantly surprised....

LilyJC---$151-$8570-50-BLT-Aug-4/20, 44/21, 50/22- sent 6/24, passed 7/28

Wow! Congratulations!

 

[Ginamarie]

The contracts I have signed for selling with different brokers stated that if they received a full price offer it was considered sold and commission was due.

So, I don’t think a seller has an option to simply reject unless there are other offers at the same time.

That's an agreement that the broker wrote up to cover themselves. It protects their commission. They're calling it "considered sold." However, an offer is not a contract. A listing price and an offer are not a contract. Until the buyer and seller sign paperwork, they have no privity to each other and nothing is owed to each other. Sellers aren't even "backing out" of anything until the paperwork has been signed with both parties names and the real estate/purchase price on it.

 

[dfan_welcomehomeall_19]

Question for you guys… my contract got ROFR’d. The broker I’m using (who I really like), has no other contracts currently that we want to bid on. Other brokers have several. I don’t really want to go with another broker since we have established relationship and they’ve been fantastic to me. But I also don’t want to wait forever for the right contract to come up with them. What do you all do in this situation when you’re wanting to purchase resale?

I’m a relationship type person too. That being said, if it were me I wouldn’t wait. Remember this is a just a business transaction to them. They could be nice but aren’t here to make friends. They will just move onto the next buyer due to demand. So far I’ve worked with 4 brokers. All were good. You have to do what is right for you as the customer and get the contract that makes sense for you. Now title companies may be a different story lol. Some better than others

 

[ABE4DISNEY]

weatherman---$123-$30384-225-SSR-Jun-0/20, 413/21, 225/22, 225/23- sent 6/21, taken 7/28

The ROFR trickle continues... And after 37 days of waiting, it appears Mickey and the gang are still hungry for SSR points...

I feel your pain, but get back out there, weatherman!! Run the gauntlet again with me!

 

[Sandisw]

That's an agreement that the broker wrote up to cover themselves. It protects their commission. They're calling it "considered sold." However, an offer is not a contract. A listing price and an offer are not a contract. Until the buyer and seller sign paperwork, they have no privity to each other and nothing is owed to each other. Sellers aren't even "backing out" of anything until the paperwork has been signed with both parties names and the real estate/purchase price on it.

My point was that I signed a contract saying I would agree to the sale at full asking. So, there is a signed contract between broker and seller for commission.

If I was brought an offer and refused to sign, I was in breach of my contract to sell. So, I don’t agree there is no obligation to the seller when they sign a contract to list.

Now, if the buyer doesn’t follow through that is different. But once the buyer signs the official offer, seller is legally on the hook to the broker.

 

[dfan_welcomehomeall_19]

Pleasantly surprised....

LilyJC---$151-$8570-50-BLT-Aug-4/20, 44/21, 50/22- sent 6/24, passed 7/28

Nice get!! Congrats!! Cant believe this one passed! That’s a fantastic price. I actually saw this one and kicked myself for not pursuing. I was hoping it would appear on the board to see the outcome.

Good for you!

 

[Ginamarie]

My point was that I signed a contract saying I would agree to the sale at full asking. So, there is a signed contract between broker and seller for commission.

If I was brought an offer and refused to sign, I was in breach of my contract to sell. So, I don’t agree there is no obligation to the seller when they sign a contract to list.

Now, if the buyer doesn’t follow through that is different. But once the buyer signs the official offer, seller is legally on the hook to the broker.

My point is that the obligation is only to pay the commission.
You're not actually obligated to sell the contract.
This happens with some regularity even in the regular real estate market.

In practice, a lot of brokers also will not hold sellers to that part of the contract because they want to maintain a positive relationship with the seller and ultimately list their property(ies) again. Most sellers are happy with a full ask price and if they're pulling a listing at full ask, it's for some extenuating circumstance. So even though a broker can hold you to paying a commission on a property that doesn't sell, even that doesn't always happen. That's a gamble though.

 

[Sandisw]

My point is that the obligation is only to pay the commission.
You're not actually obligated to sell the contract.
This happens with some regularity even in the regular real estate market.

In practice, a lot of brokers also will not hold sellers to that part of the contract because they want to maintain a positive relationship with the seller and ultimately list their property(ies) again. Most sellers are happy with a full ask price and if they're pulling a listing at full ask, it's for some extenuating circumstance. So even though a broker can hold you to paying a commission on a property that doesn't sell, even that doesn't always happen. That's a gamble though.

Okay! I misunderstood. I was referring to the commission only. You are right a seller can back out at any time.

I can see how my posts could be confusing.

 

[revkmnd]

revkmnd---$120-$35756-272-AKV-Dec-0/19, 135/20, 272/21, 272/22- sent 6/25

Taken 7/28 first timer and incredibly disappointed! What’s your best advice to move forward other than crying in the corner and mourning wasted time?

 

[ABE4DISNEY]

Taken 7/28 first timer and incredibly disappointed! What’s your best advice to move forward other than crying in the corner and mourning wasted time?

Best advice: Start shopping for a new one! They can't take them all!!

(The shopping is the best part, imho.)

 

[mtalken]

Nice get!! Congrats!! Cant believe this one passed! That’s a fantastic price. I actually saw this one and kicked myself for not pursuing. I was hoping it would appear on the board to see the outcome.

Good for you!

Awesome deal! And it buoys my confidence in my $158 BLT deal!

congrats!

 

[andyc83]

Taken 7/28 first timer and incredibly disappointed! What’s your best advice to move forward other than crying in the corner and mourning wasted time?

Ugh, this makes me nervous!

 

[ajiuo]

Taken 7/28 first timer and incredibly disappointed! What’s your best advice to move forward other than crying in the corner and mourning wasted time?

Yikes… this gives me a bad feeling that mine will get taken as well. It was also AKV submitted on 6/21 for 119 a point

Sorry for your loss better luck on the next one

 

[Chia1974]

Taken 7/28 first timer and incredibly disappointed! What’s your best advice to move forward other than crying in the corner and mourning wasted time?

When my first resale was taken, I picked up the phone call Disney and bought direct. I received my points within an hour of paying the down payment. I guess I need the instant gratification. Now I’m waiting for 4 resales to finalize. The wait is agonizing.

 

[ajiuo]

Ugh, this makes me nervous!

Your probably one of the safer ones on the AKV waiting category.

looks like Disney is cracking in to the low 120s for AKV now

 

[ajiuo]

ajiuo---$119-$22124-180-AKV-Mar-0/20, 0/21, 140/22, 180/23- sent 6/21, 7/28 taken

 

[andyc83]

ajiuo---$119-$22124-180-AKV-Mar-0/20, 0/21, 140/22, 180/23- sent 6/21, 7/28 taken

Sorry man.

 

[Ginamarie]

Taken 7/28 first timer and incredibly disappointed! What’s your best advice to move forward other than crying in the corner and mourning wasted time?

Pick right back up and bid again. We lost an SSR contract in ROFR and bid on our AKV contract that same day. AKV came through for us!