ROFR Thread July to Sept 2024 *PLEASE SEE FIRST POST FOR INSTRUCTIONS & FORMATTING TOOL*

[Jimmy Geppetto]

Which title company are you using?

Likely Magic Vacation Title. Only title company I can think of who has systems down for multiple days

 

[Jack Kerouac]

Likely Magic Vacation Title. Only title company I can think of who has systems down for multiple days

My initial reaction was yes, it has to be Magic Vac Title. But then I remembered they are still using DOS, so they wouldn't be affected by the Crowdstrike software update...

 

[Cyberc1978]

Looking for advice or suggestions.

I was just informed that my sellers had “forgot” that that they have a reservation for late October.

According to our signed contract we are due to close by mid September at the latest.

Currently I lean towards cancel my contract and find something else. However I’m also satisfied with what I’ve found but maybe I can find something better?

Since my contract does not come with banked 2023 points I fear that since the sellers forgot about their reservation that they might have used some of the 2024 points to make the Oct reservation.


Cyberc1978---$93-$14285-150-AKV-Apr-0/23, 150/24, 150/25, 150/26-Sellers pay ‘24 dues, closing costs are split- sent 7/15

 

[Jack Kerouac]

Looking for advice or suggestions.

I was just informed that my sellers had “forgot” that that they have a reservation for late October.

According to our signed contract we are due to close by mid September at the latest.

Currently I lean towards cancel my contract and find something else. However I’m also satisfied with what I’ve found but maybe I can find something better?

Since my contract does not come with banked 2023 points I fear that since the sellers forgot about their reservation that they might have used some of the 2024 points to make the Oct reservation.


Cyberc1978---$93-$14285-150-AKV-Apr-0/23, 150/24, 150/25, 150/26-Sellers pay ‘24 dues, closing costs are split- sent 7/15stk..

$93 minus dues and half the closing costs is a really good deal IMO. But I guess it also depends on what is left of the 2024 points. Do you need the points soon for a future trip? It seems AKV prices are trending lower, as I and others have bought around $90pp but that doesn't include us paying dues or closing costs.

 

[Cyberc1978]

$93 minus dues and half the closing costs is a really good deal IMO. But I guess it also depends on what is left of the 2024 points. Do you need the points soon for a future trip? It seems AKV prices are trending lower, as I and others have bought around $90pp but that doesn't include us paying dues or closing costs.

Ive asked the broker to check up on the 2024 points.

I’d like to be able to use them for a Sept 2025 trip. I normally have luck booking value studios so that’s what I’m going for. But even if I can’t get the values can I get a better deal in September or October as we get closer to January when dues for 2025 are due?

 

[Jimmy Geppetto]

Ive asked the broker to check up on the 2024 points.

I’d like to be able to use them for a Sept 2025 trip. I normally have luck booking value studios so that’s what I’m going for. But even if I can’t get the values can I get a better deal in September or October as we get closer to January when dues for 2025 are due?

Yeah that's my thinking. I'd be backing out of it unless there was material remuneration for this mishap.

 

[Cyberc1978]

Yeah that's my thinking. I'd be backing out of it unless there was material remuneration for this mishap.

material remuneration? Do you mean compensation?

 

[Sandisw]

Looking for advice or suggestions.

I was just informed that my sellers had “forgot” that that they have a reservation for late October.

According to our signed contract we are due to close by mid September at the latest.

Currently I lean towards cancel my contract and find something else. However I’m also satisfied with what I’ve found but maybe I can find something better?

Since my contract does not come with banked 2023 points I fear that since the sellers forgot about their reservation that they might have used some of the 2024 points to make the Oct reservation.


Cyberc1978---$93-$14285-150-AKV-Apr-0/23, 150/24, 150/25, 150/26-Sellers pay ‘24 dues, closing costs are split- sent 7/15

I would cancel and try for something else. Not just for price but for the potential of issues with these sellers down the line.

 

[Jimmy Geppetto]

Ive asked the broker to check up on the 2024 points.

material remuneration? Do you mean compensation?

I’d like to be able to use them for a Sept 2025 trip. I normally have luck booking value studios so that’s what I’m going for. But even if I can’t get the values can I get a better deal in September or October as we get closer to January when dues for 2025 are duet

Yes. Or the broker has to cough up something. They should have seen the activity statement before listing it.

 

[AstroBlasters]

Looking for advice or suggestions.

I was just informed that my sellers had “forgot” that that they have a reservation for late October.

According to our signed contract we are due to close by mid September at the latest.

Currently I lean towards cancel my contract and find something else. However I’m also satisfied with what I’ve found but maybe I can find something better?

Since my contract does not come with banked 2023 points I fear that since the sellers forgot about their reservation that they might have used some of the 2024 points to make the Oct reservation.


Cyberc1978---$93-$14285-150-AKV-Apr-0/23, 150/24, 150/25, 150/26-Sellers pay ‘24 dues, closing costs are split- sent 7/15

I would ask for a verification that all 2024 points are on the contract and amend so that the seller pays all closing costs instead of a split.

 

[Economouse]

Yes. Or the broker has to cough up something. They should have seen the activity statement before listing it.

The problem is they may have listed it and then made the reservation after the fact without informing the broker. Some of the contracts I've looked into have been sitting out there for more than 6 months. I think the fault is on the seller and they should compensate.

 

[E2ME2]

OK - I have not seen these posted by the buyers, so I'll share the data as a first-time seller. I do not know what the closing costs are, so my total only reflects the sales price based on the points (& half of 2024 MF on the BCV contract)

E2ME2(Seller)---$100-$4000-40-SSR-Jun-0/23, 0/24, 40/25, 40/26-Sent 7/22

E2ME2(Seller)---$140-$4313.85-30-BCV-Jun-0/23, 14/24, 30/25, 30/26-Buyer pays 50% of 2024 Dues- Sent 7/22

Don't know how buyers feel about their respective deals, but I'm happy with both. In total, I pretty much broke even after paying commission, so it's like I used these contracts for several years by just paying the yearly dues!
I still have 900 Points, and we will continue to snowbird for the foreseeable future.

 

[Jimmy Geppetto]

OK - I have not seen these posted by the buyers, so I'll share the data as a first-time seller. I do not know what the closing costs are, so my total only reflects the sales price based on the points (& half of 2024 MF on the BCV contract)

E2ME2(Seller)---$100-$4000-40-SSR-Jun-0/23, 0/24, 40/25, 40/26-Sent 7/22

E2ME2(Seller)---$140-$4313.85-30-SSR-Jun-0/23, 14/24, 30/25, 30/26-Buyer pays 50% of 2024 Dues- Sent 7/22

Don't know how buyers feel about their respective deals, but I'm happy with both. In total, I pretty much broke even after paying commission, so it's like I used these contracts for several years by just paying the yearly dues!
I still have 900 Points, and we will continue to snowbird for the foreseeable future.

Surprised you let that 40 pointer go for $100!

 

[mistysue]

Likely Magic Vacation Title. Only title company I can think of who has systems down for multiple days

It is, for some reason when I wrote it out it posts with all asterisks, so I figured I'm not supposed to say it, but not sure why everyone else can type it out.

 

[Cyberc1978]

I would cancel and try for something else. Not just for price but for the potential of issues with these sellers down the line.

For now I’m waiting for an activity statement from the broker which will get it from DVC. If some of the points are missing I’m 100% going to cancel. But you are right what’s not to say something else couldn’t go wrong.

Yes. Or the broker has to cough up something. They should have seen the activity statement before listing it.

If all points are there I’m going to ask for a compensation.

I would ask for a verification that all 2024 points are on the contract and amend so that the seller pays all closing costs instead of a split.

Thanks that’s what I have done and now waiting for. My closing is about $350, that could be an option but $350 is a small compensation.

The problem is they may have listed it and then made the reservation after the fact without informing the broker. Some of the contracts I've looked into have been sitting out there for more than 6 months. I think the fault is on the seller and they should compensate.

According to the broker they forgot to mention it and have made the reservation some time ago.

But as you say some of the contracts have been sitting there for some time.

If I cancel then the sellers are on the hook for the brokers commission that at least should make them more open to give me a compensation.

 

[VGCgroupie]

For now I’m waiting for an activity statement from the broker which will get it from DVC. If some of the points are missing I’m 100% going to cancel. But you are right what’s not to say something else couldn’t go wrong.

If all points are there I’m going to ask for a compensation.

Thanks that’s what I have done and now waiting for. My closing is about $350, that could be an option but $350 is a small compensation.

According to the broker they forgot to mention it and have made the reservation some time ago.

But as you say some of the contracts have been sitting there for some time.

If I cancel then the sellers are on the hook for the brokers commission that at least should make them more open to give me a compensation.

Cant they cancel the reservation? Not sure how someone forgets they have a trip planned

 

[Jimmy Geppetto]

It is, for some reason when I wrote it out it posts with all asterisks, so I figured I'm not supposed to say it, but not sure why everyone else can type it out.

https://magicvacationtitle.com/

Works for me

 

[Jimmy Geppetto]

The problem is they may have listed it and then made the reservation after the fact without informing the broker. Some of the contracts I've looked into have been sitting out there for more than 6 months. I think the fault is on the seller and they should compensate.

Fair point. But estoppel is usually not issued when an existing reservation is attached to the contract. So either that is what identified it, or after passing ROFR, the sellers booked something and it was caught while confirming point activity before closing.

 

[Cyberc1978]

Cant they cancel the reservation? Not sure how someone forgets they have a trip planned

According to the broker, they can’t. I understand that it’s more like they won’t. Everybody can cancel a reservation if they want to.

 

[Jack Kerouac]

For now I’m waiting for an activity statement from the broker which will get it from DVC. If some of the points are missing I’m 100% going to cancel. But you are right what’s not to say something else couldn’t go wrong.

If all points are there I’m going to ask for a compensation.

Thanks that’s what I have done and now waiting for. My closing is about $350, that could be an option but $350 is a small compensation.

According to the broker they forgot to mention it and have made the reservation some time ago.

But as you say some of the contracts have been sitting there for some time.

If I cancel then the sellers are on the hook for the brokers commission that at least should make them more open to give me a compensation.

While I’m a cynic, my parents did something similar when they sold a contract. They had a trip booked and had to come to the table with more money to make things whole. The booked trip wasn’t done in bad faith.

But I was across the table, I would be wanting compensation or I would be canceling. My general feeling (not advice at all) is prices should soften over the next quarter. But again, upfront price is such a small portion of your total cost and you want to book for September 2025, so keep that in mind. FWIW, we are closing on two contracts in the coming months so we can book our trip next summer.