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

[Theta]

This was my first ever resale. I was totally new and I was aware of delayed closings but not the reason some are delayed. My broker explained that it was due to a current reservation that must be completed before the contract can close. She also assured me that it typically doesn’t effect ROFR. In fact, it could work in my favor as Disney may not be interested in waiting around for the contract to close. I had seen other delayed closings pass just fine so I was not too concerned. Plus I thought if they took it, I would have plenty of time to bid on another contract. Ahhh, the uninitiated hubris of innocence. I had no idea what I was in for

So sorry you this has been such a pain. I will be celebrating there with you book your first trip with these points!

 

[DonMacGregor]

I wonder how much of this is due to your super late closing? Does anyone know if other delayed closings drag on like this one?

Did the delayed closing give you pause when you purchased?

I had a resale contract several months ago that had a long (5 month) delayed closing due to a pending reservation. Signed the contract May 13, but couldn’t close until after October 11th. Once submitted, it cleared ROFR in 22 days (submitted 5/17, cleared 6/8) and estoppel was issued 6 days after that (6/14). Then, it just sat at the title company waiting for October.

I got tired of waiting and backed out, but everything at Disney’s end went pretty normally.

 

[Theta]

I had a resale contract several months ago that had a long (5 month) delayed closing due to a pending reservation. Signed the contract May 13, but couldn’t close until after October 11th. Once submitted, it cleared ROFR in 22 days (submitted 5/17, cleared 6/8) and estoppel was issued 6 days after that (6/14). Then, it just sat at the title company waiting for October.

I got tired of waiting and backed out, but everything at Disney’s end went pretty normally.

That's interesting, thanks for sharing. Did you lose your deposit in this scenario?

 

[DaveNan]

Does anyone know if other delayed closings drag on like this one?

While the death may have also impacted this one, the "general rule" for ROFR is 1. contracts must allow 30 days for rofr (30 days between the signing date and the closing date on the signed contract). 2. Disney has until the closing date to respond. So if the closing date allowed Disney 30 days, and no answer is received by the closing date, the escrow company can proceed. However, none of the escrow companies force this rule. They won't proceed until they have heard from Disney. However, in the case where the current owner has a reservation 3-4 months out when they list, and the original signed contract has a clause "can't close before (today plus 4 month)". Disney actually has until that date to give an answer. On my first resale contract, four years ago, they took 8 weeks. At that time, all other answers we coming back in less than 3 weeks. That is when I got "educated" on the difference between "Disney has 30 days to respond" and " Disney has until the contracted closing date to respond". It is possible that the broker was accurate and Disney is no longer taking advantage of this difference, but 4 years ago it was not unusual that they would take longer to decide when the closing date was delayed.

 

[DonMacGregor]

That's interesting, thanks for sharing. Did you lose your deposit in this scenario?

Yes

 

[DKZB]

Yes

That would KILL me more than waiting!

 

[hhisc16]

Yes

Was this on the HHI contract?

 

[DonMacGregor]

That would KILL me more than waiting!

After 3 months, it was water so far under the bridge. Also, 3 more months to decide I’d save more money going in a different direction.

 

[DonMacGregor]

Was this on the HHI contract?

Yeah

 

[DonMacGregor]

Yeah

I ended up buying 150 SSR points direct. Had them in my account in 30 minutes, with 150 2021 points ready to bank for next year.

 

[wnielsen1]

ROFR Day 64 (or 31): Still a whole bunch of nothing. They still have my money . I have some small hope that I might, maybe hear something someday. That’s a very small sliver of hope at this point. It would be great if I heard something before the closing date though.

Today's the day, Jen

 

[Jen0718]

Today's the day, Jen

I truly hope so.

 

[The Jackal]

I don’t think you can add that few I think the minimum is 25. I have a FW that’s 196 points and a 34 point small contract to get me an extra night if I want. Sometimes the odd numbers are needed to get that extra night in a certain room, it’s better than being a couple points short.

Right now minimum at most resorts is 25, CCV and RIV is 50, yes you have the fixed week and minimum buy in issue, where’re you will have one contract for the fixed week. Let’s say 133 points, but then you need 150 points to be a first time buyer direct so you will get a second contract with 17 points to make 150. There were a few, not many at all tiny contracts. I’m not sure but I think there were some for BLT. I remember seeing one for 8 points on a resale site as few years ago.

 

[GoHawksKF]

GoHawksKF---$150-$38358-250-PVB-Feb-0/20, 0/21, 236/22, 250/23- sent 8/5

First timer here… Let’s go!

Passed 9/3!
Great news to start out the holiday weekend!

 

[Jen0718]

Passed 9/3!
Great news to start out the holiday weekend!

Congrats GoHawks!!

 

[Cleeevus]

Cleeevus---$127-$28664-220-SSR-Sep-0/20, 440/21, 220/22, 220/23-Seller pays MF ‘21; Int’l seller- sent 8/6, passed 9/3

4 contracts and 720 points in less than one year. I think I’m done… maybe?

 

[softballmom3]

Cleeevus---$127-$28664-220-SSR-Sep-0/20, 440/21, 220/22, 220/23-Seller pays MF ‘21; Int’l seller- sent 8/6, passed 9/3

4 contracts and 720 points in less than one year. I think I’m done… maybe?

Now I'm just fixing to get salty about mine lol. My SSR was sent 7/30.

 

[Cleeevus]

Now I'm just fixing to get salty about mine lol. My SSR was sent 7/30.

Oh no! Mine has delayed closing until mid November to boot. The lack of rhyme or reason with ROFR is intriguing but mostly just frustrating! I hope you hear soon.

 

[Cleeevus]

Oh no! Mine has delayed closing until mid November to boot. The lack of rhyme or reason with ROFR is intriguing but mostly just frustrating! I hope you hear soon.

Also, I found it a little strange that my VGC contract was sent exactly five days prior to this one and I heard back five business days ago today that that contract passed too. Same broker for both contracts and they emailed me on Wednesday asking for proof of deposit as Mason Title couldn’t find it. It made me think Mason title and the broker were already aware of my passing ROFR at that time but waited until they had their own ducks in a row? Who knows.

 

[gretabull]

I wired the $$ for my contract today and am just waiting for the sellers to sign the closing docs! How long until I get my membership #, points, and access to the website???