ROFR timeline

[UA DVC Member]

Is there any deadline by which Disney has to respond to a ROFR? I know that the general rule of thumb is 30 days, but our contact was submitted on April 1st and we haven't heard yet. I don't remember hearing that it could take 45 days. Has anyone else had to wait this long to hear back?

 

[Her Dotness]

We were a few days past 30 when we heard on a ROFRed one and about that when another got through.

We just found out why we haven't gotten closing documents on the latter at a week past 45 days--person handling that has covid.

DH called the broker who told us that was why and no telling when we might get the documents.

Sadly, there's a chance that's what's holding up the verdict is on yours.

 

[MICKIMINI]

We gone way past 30 in fact we are past 30 on a contract we are selling right now! Not much happened last week with ROFR so we can probably expect to see something happen this week. It is frustrating, but console yourself with the $$ in your pocket LOL!

 

[Sandisw]

You have to give them at least 30 days for ROFR...once that date is passed, the title company could prepare the paperwork and get the contract closed. However, no one is going to do that without the ROFR letter, which is now issued along with estoppel.

So, basically, they can take as long as they need based on the actual closing date of the contracts. Its another reason why they most always do 60 days or more...

 

[UA DVC Member]

We gone way past 30 in fact we are past 30 on a contract we are selling right now! Not much happened last week with ROFR so we can probably expect to see something happen this week. It is frustrating, but console yourself with the $$ in your pocket LOL!

Yep that’s how I console myself! I’ve done both direct and resale. The other resale transaction didn’t take nearly this long.

I’m in contract on points at SSR at $120/point, so I really hope it goes through.

 

[UA DVC Member]

Ok just found an hour ago that the Mouse is stepping in to buy the contract. I kind of thought it was too good to be true, but was hoping that since they waited so long it might go through.

So now I have to decide whether to try another or wait and hope that the Poly 2 will have a good net price with incentives. I know it’s worth it from a financial perspective to do resale, but boy is the process tough!

 

[Her Dotness]

Like you, we've bought direct and resale.

I agree that the ROFR wait is agony in comparison. It's tough even when you suspect you've likely chosen ROFR bait.

Better luck next time.

 

[gharter]

We are in the process of selling 1 contract. It just passed ROFR right about the 30 day mark.

 

[Rcfins13]

Today makes day 63 for us. This is getting beyond ridiculous and to make it more of a head scratcher is we are buying poly. They haven't bought back a poly contract in roughly a year. I don't get it.

 

[hglenn]

Today makes day 63 for us. This is getting beyond ridiculous and to make it more of a head scratcher is we are buying poly. They haven't bought back a poly contract in roughly a year. I don't get it.

Day 63 of ROFR??? Really?? That's seems so strange. Is your broker sure that they even have it to review?

 

[Rcfins13]

Day 63 of ROFR??? Really?? That's seems so strange. Is your broker sure that they even have it to review?

Oh yeah I've talked to them a few times. They keep getting the same excuse from Disney like you've seen in others posts about the long waits on ROFR.

 

[Alicia22]

Today makes day 63 for us. This is getting beyond ridiculous and to make it more of a head scratcher is we are buying poly. They haven't bought back a poly contract in roughly a year. I don't get it.

That is nuts. We are on day 40 and watching our expiring points slip through our fingers. I wonder if that has anything to do with our wait?? Good luck to you!!

 

[RKS03]

Seems crazy for them to take so long on some contracts but not others. Has anyone noticed a difference amongst brokers and how long Disney takes?

 

[Alicia22]

Seems crazy for them to take so long on some contracts but not others. Has anyone noticed a difference amongst brokers and how long Disney takes?

I would love to know some of these stats as well (despite the “totally random” answer we are always given). I have used a different broker and bought a contract with expiring points (cannot be banked), and am experiencing a longer wait.

 

[Alicia22]

You have to give them at least 30 days for ROFR...once that date is passed, the title company could prepare the paperwork and get the contract closed. However, no one is going to do that without the ROFR letter, which is now issued along with estoppel.

So, basically, they can take as long as they need based on the actual closing date of the contracts. Its another reason why they most always do 60 days or more...

Is the closing date a deadline for disney to exercise rofr? My closing date is 20 days away (it has been 41 days since sent to DVC).

 

[Sandisw]

Is the closing date a deadline for disney to exercise rofr? My closing date is 20 days away (it has been 41 days since sent to DVC).

Technically, they can take that long if it doesn’t close prior to that.

But, the title companies won’t close it until they have that letter so in a way, yes. I don’t think I have ever read of Disney not giving an answer before that date.

Even when Disney is the buyer, they take their time. My closing documents arrived on Friday with a closing on Saturday. Obviously that didn’t happen since we had to go to the bank today.

 

[kanerf]

My last one was submitted on Feb 21st and DVC passed on ROFR on 15 Mar so only about 3 weeks.