rofr

[KANSAS]

I sold a DVC contract, to a family

I was shocked DVC,excercised ROFR on the DVC contract

i was notified on friday of this

can the buyer, increase his offer, $1-$4 per point and resubmit?
if so

how?

how much time do we have, to get this done?

what else should i have asked??

 

[Dean]

Just let it go unless you want to take the chance to get a higher price. You can ask DVC if you can resubmit, call Member admin for this.

 

[RuthnPaul]

The brokers we've used have told us that once Disney exercises ROFR, it's pretty much a done deal.

 

[calypso*a*go-go]

Not true -- DVC was going to exercise ROFR on the contract we were trying to buy and we immediately notified seller we wanted to counter-offer. We actually offered a lower price per point but increased the overall offer by agreeing to pay the closing costs and ended up getting the contract. I don't think DVC likes to do this but in our case it worked out. This would be a win-win situation for you either way...so go for it !!!

 

[RuthnPaul]

Calypso, just wondering if yours was a private sale where it was just you and the buyer. We've always purchased through a broker which leads me to believe that perhaps they simply don't want to get involved if the contract doesn't pass ROFR since they get their commission regardless.

Kansas, as someone else mentioned, did your buyer offer to pay maintenance fees for any 2004 points that are available. That seems to go a long way in getting through the ROFR process. Let us know what you decide to do.

 

[calypso*a*go-go]

RuthnPaul -- It was a private seller. I tend to agree w/you that brokers probably don't want to be bothered w/waiting for the ROFR process a second time. I'm sure they'd rather get their commission and move on to the next sale. A counter-offer would only increase their comm. by a few dollars compared to what they are already receiving.

 

[Dean]

Originally posted by RuthnPaul
The brokers we've used have told us that once Disney exercises ROFR, it's pretty much a done deal.

Actually DVC used to ask if you wanted to resubmit. But I'm sure it was a hassle so they don't do that anymore. Still, it is possible to resubmit if one acts quickly enough. The problem is that DVC notifies the seller and not the broker even if there is one. Remember the broker has no incentive. If they resubmit, they are just lessening their chances of even making a sale and with ROFR, they may actually make two or more sales.