ROFR Thread Oct to Dec 2020 *PLEASE SEE FIRST POST FOR INSTRUCTIONS & FORMATTING TOOL*

[ohmyminnie]

I closed on several contracts throughout the covid months. Estoppel never took longer then a week.

I closed on several contracts throughout the covid months. Estoppel never took longer then a week.

I purchased two other resale contracts this summer, and closing was 1-2 weeks after ROFR. I just sent another email to the title company. The broker told me last week that Disney has been ignoring requests for information from her as well as one of her colleagues who also has a contract in a similar situation.

 

[CP3uhoh]

We passed ROFR on a Boulder Ridge contract on September 14. Still haven't closed. Title company waiting on estoppel from Disney. I can't imagine what is taking so long.

That is brutal, sorry to hear that.

 

[dfan_welcomehomeall_19]

I closed on several contracts throughout the covid months. Estoppel never took longer then a week.

Mine took a month for an SSR resale contract (Aug into Sept) !! I think that’s abnormal though.

 

[Spartan86]

Generally you have to include closing costs and potential maintenance fees. If you select "seller pays closing" and put a comment, it adjusts for that, which is the circumstance here if that's actually what the buyer is paying:

Spartan86---$97-$15690-160-SSR-Dec-0/18, 0/19, 114/20, 160/21-associate seller- sent 9/23, taken 10/15

Thanks @ScubaCat. Our links to the Docusign documents that were shared with us (we were de facto seller’s “agents) expired so I can no longer view the closing documents for an accurate number. This transaction was pretty average -buyer paid closing, no dues reimbursement.

 

[Hjs33]

HJS33---$125-$51155-400-PVB-Apr-0/19, 214/20, 800/21, 400/22- sent 10/16

Will have to include 2021 dues at close, but don’t know how much that is yet.

 

[Carrie932]

Here we go again!

Carrie932---$154-$8360-50-VGF-Sep-0/19, 42/20, 50/21, 50/22- sent 10/20

 

[jbreen2010]

I just realized i'm not on the "waiting" screen anymore....I must have fallen off from the Summer to fall ROFR switch.

I can't believe it's day 70 of waiting....

Can you please add me:

Jbreen2010---$98-$25899-240-SSR-Feb-0/19, 0/20, 480/21, 240/22- sent 8/11

 

[Drew729]

Drew729---$105-$17400-160-AKV-Dec-0/18, 0/19, 320/20, 160/21-Seller pays MF 20- sent 10/20

 

[DVCanonymouse]

I just realized i'm not on the "waiting" screen anymore....I must have fallen off from the Summer to fall ROFR switch.

I can't believe it's day 70 of waiting....

Can you please add me:

Jbreen2010---$98-$25899-240-SSR-Feb-0/19, 0/20, 480/21, 240/22- sent 8/11

I can't believe you're still waiting, either! Good luck!

 

[mom2elle]

I just realized i'm not on the "waiting" screen anymore....I must have fallen off from the Summer to fall ROFR switch.

I can't believe it's day 70 of waiting....

Can you please add me:

Jbreen2010---$98-$25899-240-SSR-Feb-0/19, 0/20, 480/21, 240/22- sent 8/11

This is crazy, have you been in contact with your broker lately?

 

[jbreen2010]

This is crazy, have you been in contact with your broker lately?

I have been quite frequently now at this point. My documents say i'm going to close on Monday, which is clearly not happening. I am working with one of the biggest brokers, so i'm not sure why this is happening. They don't seem to have any more information than the people on this forum's speculations.

They have asked to not poke the sleeping bear if you will with DVC....I guess if you pester the ROFR department, they don't take too fondly to it.
To me though 70 days of waiting isn't being a pest and i'm pretty disappointed with this process.

Could you imagine if you were trying to buy a car and put out an offer and still don't know if you can get that car 70 days later. LOL

 

[I Run Long]

I Run Long---$97-$17795-175-SSR-Mar-0/19, 0/20, 175/21, 175/22- sent 10/20

 

[TXN4Disney]

TXN4DISNEY---$133-$21900-160-BLT-Feb-0/19, 0/20, 296/21, 160/22- sent 10/19

 

[Lorana]

I have been quite frequently now at this point. My documents say i'm going to close on Monday, which is clearly not happening. I am working with one of the biggest brokers, so i'm not sure why this is happening. They don't seem to have any more information than the people on this forum's speculations.

They have asked to not poke the sleeping bear if you will with DVC....I guess if you pester the ROFR department, they don't take too fondly to it.
To me though 70 days of waiting isn't being a pest and i'm pretty disappointed with this process.

Could you imagine if you were trying to buy a car and put out an offer and still don't know if you can get that car 70 days later. LOL

This is where the whole "don't poke the sleeping bear" nonsense makes me angry (having almost gotten into a similar situation in early covid days). There are legal requirements around ROFR and closing for a reason. If Disney doesn't respond by the closing date, then legally they have passed up their ROFR and you can close. The fact that the brokers don't want to do that is, to say the least, frustrating.

 

[TheTrailblazers]

I have been quite frequently now at this point. My documents say i'm going to close on Monday, which is clearly not happening. I am working with one of the biggest brokers, so i'm not sure why this is happening. They don't seem to have any more information than the people on this forum's speculations.

They have asked to not poke the sleeping bear if you will with DVC....I guess if you pester the ROFR department, they don't take too fondly to it.
To me though 70 days of waiting isn't being a pest and i'm pretty disappointed with this process.

Could you imagine if you were trying to buy a car and put out an offer and still don't know if you can get that car 70 days later. LOL

Sounds like the brokers have lost any pull they had... 70 days is excessive. I'd ask the broker to forward confirmation or a copy of the ROFR paperwork sent... maybe that 8/11 date you were given was off by a month?!

 

[EM Lawrence]

If they take it after making you wait 70+ days that is just cruel. I really hope you pass.

 

[jbreen2010]

If they take it after making you wait 70+ days that is just cruel. I really hope you pass.

Me too. I would seriously have to reevaluate my financial spend here if I can't even get through ROFR in an orderly fashion.

This is where the whole "don't poke the sleeping bear" nonsense makes me angry (having almost gotten into a similar situation in early covid days). There are legal requirements around ROFR and closing for a reason. If Disney doesn't respond by the closing date, then legally they have passed up their ROFR and you can close. The fact that the brokers don't want to do that is, to say the least, frustrating.

I agree here with this one. Our contract gives DVC 75 days to exercise ROFR...which is plenty of time. These contracts are just name, use year, points and dollars - doesn't seem to hard to me...not even like I need to do a home inspection! I told Broker I want to close, but they did not seem inclined to push any harder. When I was eyeing up contracts on various sites, I picked this one as they touted many agents and employees have years of experience in working with DVC, so one would have assumed they could pick up the phone and rectify this....but i guess it's not that easy.

 

[we"reofftoneverland]

This is where the whole "don't poke the sleeping bear" nonsense makes me angry (having almost gotten into a similar situation in early covid days). There are legal requirements around ROFR and closing for a reason. If Disney doesn't respond by the closing date, then legally they have passed up their ROFR and you can close. The fact that the brokers don't want to do that is, to say the least, frustrating.

Exactly. RoFR is used in all kinds of real estate transactions and they are NEVER open ended like this. The brokers need to just move forward and close if they have not responded within the deadline.

 

[jbreen2010]

Exactly. RoFR is used in all kinds of real estate transactions and they are NEVER open ended like this. The brokers need to just move forward and close if they have not responded within the deadline.

Maybe I wait until my contract's closing time and reach out to title company to tell them i'm ready to close since my day has come.

I'll copy all parties involved LOL

 

[CLE2WDW]

TXN4DISNEY---$133-$21900-160-BLT-Feb-0/19, 0/20, 296/21, 160/22- sent 10/19

Wow this would be a phenomenal deal on a loaded contract. Good luck!!