ROFR??

[edk35]

So I have a question. Just curious. When Disney sweeps up a contract that has an offer on it.....does the the reseller still get their commission? I know the seller is out the potential contract but what happens to the reseller??

 

[disneynutz]

Disney assumes the purchase contract with the same terms as the original buyer. Another reason why Disney doesn't ROFR unless the numbers are in their favor.

Bill

 

[supersnoop]

I know the seller is out the potential contract but what happens to the reseller??

The seller gets paid. Their deal with the broker dictates commission.

In short, Disney takes the place of the buyer. Nothing else changes.

 

[Dean]

The seller gets paid. Their deal with the broker dictates commission.

In short, Disney takes the place of the buyer. Nothing else changes.

At least it's not supposed to. At one time they were trying to add additional requirements on the seller not to discuss the terms of the deal. I've seen it posted fairly recently such that it seems they still may be doing that.

 

[jekjones1558]

At least it's not supposed to. At one time they were trying to add additional requirements on the seller not to discuss the terms of the deal. I've seen it posted fairly recently such that it seems they still may be doing that.

That is interesting. How can they add terms to the deal that weren't in the contract they bought?

 

[wdrl]

At least it's not supposed to. At one time they were trying to add additional requirements on the seller not to discuss the terms of the deal. I've seen it posted fairly recently such that it seems they still may be doing that.

Keep in mind that resale transactions are part of the public record, at least in Florida, and that the sale consideration amount is often disclosed as part of the public record. Even if the consideration amount is not annotated on the public record, the Deed Document Tax will be shown and it is easy to calculate the underlying consideration paid for the deed. In Orange County, Florida, the Deed Document Tax is currently $0.70 per $100. If a ROFRed deed has a Deed Document Tax of $175.00, then the deed was sold for $25,000.

 

[ScubaCat]

Even if the consideration amount is not annotated on the public record, the Deed Document Tax will be shown and it is easy to calculate the underlying consideration paid for the deed

ROFR deeds don't specify the points, either, so you have to take the additional step of searching the seller as the buyer to find the purchase deed which will reveal the points. It's not always 100% straightforward but usually is pretty apparent.

 

[Sean91]

I was discussing this with my partner the other day, our broker will probably be loving us. Our last contract was taken and I have a feeling this one will be too, we will immediately put a new offer in. She might wind up getting two sales a month out of us for each month until we pass. Her commission will be fantastic!

 

[Kim Gillihan]

I was discussing this with my partner the other day, our broker will probably be loving us. Our last contract was taken and I have a feeling this one will be too, we will immediately put a new offer in. She might wind up getting two sales a month out of us for each month until we pass. Her commission will be fantastic!

why do you think they took it, just too good of a deal?? worried now!

 

[Sean91]

why do you think they took it, just too good of a deal?? worried now!

It wasn't really a good deal in all honesty but it was loaded. I think that's what they seem to go for most of the time

 

[Kim Gillihan]

It wasn't really a good deal in all honesty but it was loaded. I think that's what they seem to go for most of the time

oh ok.. well, mine is not completely loaded but does have some banked points... only 60. Hoping I make it. The waiting is so hard. I am not patient anyway....

 

[Sean91]

My original one was $86 per point, nothing in 16 but full points from 2017 onwards with a June U/Y. My current one is a lot cheaper, $74 per point but with no points in 16 and 110 out of 160 in 18. I'm hoping that the lack of current points will make it less enticing for DVC lol

 

[Kim Gillihan]

My original one was $86 per point, nothing in 16 but full points from 2017 onwards with a June U/Y. My current one is a lot cheaper, $74 per point but with no points in 16 and 110 out of 160 in 18. I'm hoping that the lack of current points will make it less enticing for DVC lol

Wow! I am shocked. they took it with only 2017 points.. no banked etc,... oh no!! I am really worried now. My use year is april, pionts coming soon...

 

[Sean91]

Wow! I am shocked. they took it with only 2017 points.. no banked etc,... oh no!! I am really worried now. My use year is april, pionts coming soon...

Where are you buying and how much per point?

 

[Kim Gillihan]

Where are you buying and how much per point?

AKV 76 300 points

 

[Dean]

That is interesting. How can they add terms to the deal that weren't in the contract they bought?

Legally they can't. When they took one of mine ROFR a few years ago, I balked at the addition willing to lose the sale on principle. They capitulated but how many would do so. At the time I couldn't have met the requirement because I'd already shared it anyway.

 

[jekjones1558]

Legally they can't. When they took one of mine ROFR a few years ago, I balked at the addition willing to lose the sale on principle. They capitulated but how many would do so. At the time I couldn't have met the requirement because I'd already shared it anyway.

Amazing that a massive corporation like Disney can be so petty.

 

[ScubaCat]

If you have a pending contract, please post it in the official ROFR thread if you don't mind sharing. We'd all appreciate it! (See post #1.)

https://www.disboards.com/threads/r...ost-for-instructions-formatting-tool.3568151/

 

[disneynutz]

Amazing that a massive corporation like Disney can be so petty.

Because it's a massive corporation is why they are so petty. To Disney it's all business and profit, it's numbers and egos, not emotion. They set the stage and we enjoy the performance.

Bill

 

[ELMC]

Disney assumes the purchase contract with the same terms as the original buyer. Another reason why Disney doesn't ROFR unless the numbers are in their favor.

Bill

Given the disparity between retail and resale, the numbers are always in their favor. Sometimes just not enough. I mean, why make only 50% when you can make 80%?