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

[Madmavis]

This give me hope of hearing soon! Mine was sent 09/13!!

Mine was sent on 9/9 also a 50 pointer for SSR and I’m still waiting

 

[Nikred513]

Just now on day 31 for me, doing my best to wait it out to at least day 45 before asking the broker for an update.

 

[hlhlaw07]

Disney isn’t doing anything wrong with regards to ROFR. They are doing exactly what they are allowed to do. The only party doing anything wrong is the closing companies.

If the closing date comes and Disney has not notified of its decision, doesn’t mean a decision on ROFR hasn’t been made. By failing to act by scheduled closing, Disney has in fact made a decision to pass on ROFR. That’s how ROFRs work.

If closing companies want a piece of paper memorializing that decision, that’s on them.

If your closing date comes without hearing from Disney, you passed ROFR. The contract is yours. Disney cannot take it after the scheduled closing date as their right to do so expires when the scheduled closing date arrives, and it is not revived by the closing company’s dereliction of their duty to close under the terms of the contract. So as long as you don’t mind waiting on the paperwork, you are guaranteed the contract.

You could spend hours upon hours of researching all the deeds and ROFR filings and you will not find one instance of Disney taking a contract and attempting to exercise ROFR after a scheduled closing date. Because that’s not how the law works, and Disney knows it. They are only taking longer because brokers are giving them longer. Whether you get a piece of paper from Disney affirmatively stating they decline to exercise ROFR or they just do nothing in the time allotted to them under the contract, in the eyes of the law it is all the same. There is no difference between those two scenarios. They both equate to a decision on ROFR and the contract legally being yours to buy.

 

[Gerbilsting]

What I can tell you is that many areas of the company went to bare bones staff for divisions not doing what the normally do,

At DVD, it was reported a while ago that they had only 2 people working on this and of course, with all the resale contract, taking 45 days to 50 days in the spring....mine took 46 I think...is understandable.

Brokers and title companies adjusted their practices to account for it as well.

In the end, though, DVD should be expected to keep up their end of the deal especially when they have already been given an extra month in most cases than pre Covid,

I agree with this, 100%! I also agree with the folks who are hypothesizing that resale contract turn around times just aren't a priority. Dollars and cents.

I do also think they know what they're doing. Corporate life, there's only so many dollars alloted in the budget. I have a project management based position in a large corporation and budgetary constraints are always an issue. You know there's a problem, you know it needs to be fixed, but you have to triage. You basically hope nothing implodes until you can work your way down to that priority.

I can't imagine the nightmare the leaders in DVD are dealing with... Picking and choosing where to drop the ball is not an ideal situation for anyone. Consumers OR cast members.

That all being said, I also believe that Disney won't change unless title companies or brokers see enough issues that they push their contractual rights via a lawsuit. Nothing will make funds magically appear in budgets faster than the threat of a lawsuit your org knows you're going to lose. I have seen entire restructures in reaction to a single lawsuit, or fine.

 

[Gerbilsting]

Disney isn’t doing anything wrong with regards to ROFR. They are doing exactly what they are allowed to do. The only party doing anything wrong is the closing companies.

If the closing date comes and Disney has not notified of its decision, doesn’t mean a decision on ROFR hasn’t been made. By failing to act by scheduled closing, Disney has in fact made a decision to pass on ROFR. That’s how ROFRs work.

If closing companies want a piece of paper memorializing that decision, that’s on them.

If your closing date comes without hearing from Disney, you passed ROFR. The contract is yours. Disney cannot take it after the scheduled closing date as their right to do so expires when the scheduled closing date arrives, and it is not revived by the closing company’s dereliction of their duty to close under the terms of the contract. So as long as you don’t mind waiting on the paperwork, you are guaranteed the contract.

You could spend hours upon hours of researching all the deeds and ROFR filings and you will not find one instance of Disney taking a contract and attempting to exercise ROFR after a scheduled closing date. Because that’s not how the law works, and Disney knows it. They are only taking longer because brokers are giving them longer. Whether you get a piece of paper from Disney affirmatively stating they decline to exercise ROFR or they just do nothing in the time allotted to them under the contract, in the eyes of the law it is all the same. There is no difference between those two scenarios. They both equate to a decision on ROFR and the contract legally being yours to buy.

I did not know this! This is interesting! Question: Do you know if Disney has refused to send the Estoppel or load membership in the cases where they moved forward with after the official close date on the contract with no ROFR response? Wouldn't that complicate the situation with Disney accepting they passed ROFR, but then refusing to do anything else?

 

[softballmom3]

I have been watching this thread for awhile now just waiting for ROFR to start coming through one way or another for people. I want to put an offer in somewhere but don't want to if it's taking this crazy amount of time for them to come through. Fingers crossed for everyone waiting!

 

[ScubaCat]

MortimerMouse---$99-$16830-170-WL/BRV-Aug- 0/20,0/21,170/22-Sent 9/24

Seller pays 2020 & 2021 dues

Could you please reformat that with the link in post#1?

 

[ohmyminnie]

I did not know this! This is interesting! Question: Do you know if Disney has refused to send the Estoppel or load membership in the cases where they moved forward with after the official close date on the contract with no ROFR response? Wouldn't that complicate the situation with Disney accepting they passed ROFR, but then refusing to do anything else?

I have been waiting on estoppel for a contract that was supposedly ROFRed on 9/14. I never received notification about it, but the broker informed me that it passed. It has been over a month now, and we can't close because for some reason Disney is holding up the estoppel. Broker says Disney is ignoring her emails requesting further information.

 

[Stargazer65]

I have been waiting on estoppel for a contract that was supposedly ROFRed on 9/14. I never received notification about it, but the broker informed me that it passed. It has been over a month now, and we can't close because for some reason Disney is holding up the estoppel. Broker says Disney is ignoring her emails requesting further information.

Very strange, I got ROFR on a contract 9/22 and closed on 10/6. I don't understand the inconsistencies.

 

[Brianstl]

This is what the Florida statue states when it comes to how long Disney has to provide estoppel.

Within 10 business days after receiving a written or electronic request therefor from a unit owner or the unit owner’s designee, or a unit mortgagee or the unit mortgagee’s designee, the association shall issue the estoppel certificate.

 

[rchristiansen]

Hopefully this won’t be an issue. But how long can a deposit be held in escrow for? Indefinitely?

 

[ohmyminnie]

This is what the Florida statue states when it comes to how long Disney has to provide estoppel.

It is really strange. I purchased 2 other contracts this summer (all with the same title company, and the broker on this one is the same as one of the other ones) and they went very smoothly. The seller is in the US. Both the title company and broker say we just have to wait, Disney isn't responding to them. I did think it was strange that i never got an email notification that it passed ROFR. I had been waiting over a month, then contacted the broker and that is how I was told it passed. She said I should have received an email. This whole process started on August 3. I feel bad for the sellers, I imagine they are wanting their money.

 

[azcamper]

azcamper---$112-$64535-565-AKV-Apr-0/19, 0/20, 996/21, 565/22- sent 9/8, passed 10/22

 

[mattywisco]

azcamper---$112-$64535-565-AKV-Apr-0/19, 0/20, 996/21, 565/22- sent 9/8, passed 10/22

Congrats!! That's quite the points

 

[Lcroker]

$122-$7,012-50-OKW(extended)-Aug-0/19, 50/20, 50/21, 50/22- sent 10/2

 

[Wedgeout]

azcamper---$112-$64535-565-AKV-Apr-0/19, 0/20, 996/21, 565/22- sent 9/8, passed 10/22

No longer a camper,,now a full glamper!! Big Welcome Home with that contract. Congratulations and we have a “Passed”!!!

 

[Ruttangel]

Hopefully this won’t be an issue. But how long can a deposit be held in escrow for? Indefinitely?

I’ve had funds in an escrow since 7/25,
I had a contract taken in late August and used the same funds as deposit for another contract. It was never returned to me.
That new contract was sent to ROFR on 9/8 but no response yet

 

[jomik1]

I’ve had funds in an escrow since 7/25,
I had a contract taken in late August and used the same funds as deposit for another contract. It was never returned to me.
That new contract was sent to ROFR on 9/8 but no response yet

We did the same thing. Had a contract taken on 10/1 and submitted a new one on 10/5. Same broker. They just held on to my deposit. At this rate, I think I'll be lucky if I hear by Thanksgiving!!

 

[mattywisco]

These long waits are so discouraging right now - almost wish we would have just bought a 100 pt direct at OKW back in September like we almost did. If they were still selling gold passes to DVC members we would have, but we are waiting to go direct until that comes back.

 

[Friendinme]

azcamper---$112-$64535-565-AKV-Apr-0/19, 0/20, 996/21, 565/22- sent 9/8, passed 10/22

Congrats!