sad day....seller won't close

[dbs1228]

While not a routine occurrence - it's not a RARE occurrence either - maybe re-sales don't go thru for different reasons but it happens = be real

Re-sale is a game/gamble and you have to be willing to play the game without the emotional investment. JMO

Sure it is a gamble and I have had 2 really good BWV contracts taken back by Disney but on my third try I paid a little more for a LOADED contract that passed I am going to rent 2012 points and will end up paying 66.00PP MUCH BETTER THEN 130.00pp or the 115.00 locked in rate in which people are STILL waiting for their points, I should have mine in my account at the beginning of August - well worth saving over 10,000.00! While direct purchasers are still waiting just saying.......

 

[bakerworld]

Sure it is a gamble and I have had 2 really good BWV contracts taken back by Disney but on my third try I paid a little more for a LOADED contract that passed I am going to rent 2012 points and will end up paying 66.00PP MUCH BETTER THEN 130.00pp or the 115.00 locked in rate in which people are STILL waiting for their points, I should have mine in my account at the beginning of August - well worth saving over 10,000.00! While direct purchasers are still waiting just saying.......

proven

 

[DougEMG]

Last year I had 4 OKW in a row taken back by Disney in ROFR. That didn't make me look at direct, it made me look at other resorts and I ended up buying more SSR and BWV points.

There are lots and lots of negatives with buying resale, but it does have one advantage that is important to me and that is price. The key for every buyer is understand what the advantages and disadvantages are for direct and resale.

 

[nd43]

Sorry to hear about your troubles. I hope you get a better contract the next time.

 

[KAT4DISNEY]

In the world of gambling buying DVC resale has pretty good odds if you just want to talk about getting the points by your planned date.

Ya'll come out to Nevada and see some real gambling.

(Interestingly enough it's the one state that you can't purchase direct from).

 

[DougEMG]

mirnmart---240 OKW (April), $62, 121 '12 points and all forward, buyer pays closing and 1/2 mf (sub 5/21, passed 6/17)

Details of the contract for those who are interested...thanks for the sympathy...back to the drawing board!

That was a nice contract. I'm actually a little surprised it actually made it through ROFR. Did the broker give any indication on why it happened? Did the seller just change their mind on selling or are they thinking they can get more money now given the spike in price?

 

[RobDoc]

OK, the arguing and attacks MUST stop. While we are all passionate about DVC in some fashion but the constant bickering about the mental capabilities of members based on their choice of purchase methodology cannot continue.

We can all either be part of the solution or part of the problem. The choice is up to each of us.

Choose wisely.

 

[mirnmart]

That was a nice contract. I'm actually a little surprised it actually made it through ROFR. Did the broker give any indication on why it happened? Did the seller just change their mind on selling or are they thinking they can get more money now given the spike in price?

We were also pleasantly surprised when it passed ROFR! The broker said the seller is a recent widow and when he kids (adult kids I think??) found out he had sold they were upset so he changed his mind.
Wasn't expecting this post to spark so much debate! We will continue to look for another resale contract but makes no difference to me if people choose resale or direct....whatever makes you happy
IN the grand scheme of things this really is no big deal and such a first world problem.....but thanks for letting me vent anyways!

 

[NoleFan]

We were also pleasantly surprised when it passed ROFR! The broker said the seller is a recent widow and when he kids (adult kids I think??) found out he had sold they were upset so he changed his mind.

You will find something better- everything for a reason. Sounds like an unfortunate situation for the family- recent widow & probably many fond DVC memories. Also, unfortunate on your end but good to know that it wasn't because they were looking for more $$. Good luck in your search.

 

[dbs1228]

I have to wonder what would have happened if Disney did ROFR'd the contract would the seller be able to change their minds so easily does anyone know? Just curious

 

[Dean]

I have to wonder what would have happened if Disney did ROFR'd the contract would the seller be able to change their minds so easily does anyone know? Just curious

Historically DVC has not required sellers to proceed when they were ROFR'd, they have also allowed the contract to be resubmitted with different terms after ROFR was not given.

 

[tb1972]

Sorry OP. This happened to us last month. Made it through Rofr and seller backed out on closing day. We didn't feel it was worth the time or expense to involve a lawyer and just moved on. It doesn't seem to be a common occurrence for a seller to change their mind. Best of luck finding a new contract!

 

[taaren]

OP, just wanted to say I'm so sorry! I remember how much work it was to go through all those steps of retail, it being a real estate transaction and all that entails, and to have nothing to show for it at the end would be heartbreaking, knowing you'll have to start the work all over again!

Much luck to you with your next contract, that it be an even better deal and smooth transaction!

 

[bcvlover]

sorry... this just happened to me too last week.

I had a beach club I offered the asking price, and the selller declined my offer and then raised the price $5.

Seems like this maybe more common than we knew of?

 

[ImagineerTHAT]

I have to wonder what would have happened if Disney did ROFR'd the contract would the seller be able to change their minds so easily does anyone know? Just curious

When Disney initiates their ROFR, I believe they purchase the deed outright. On the OC Comptroller website, Disney is the grantee on deeds where the ROFR was taken.

 

[dbs1228]

When Disney initiates their ROFR, I believe they purchase the deed outright. On the OC Comptroller website, Disney is the grantee on deeds where the ROFR was taken.

I know this what I was asking was "what would happen IF the Seller decides NOT to sell once Disney exercises their rights to take the contract" I was just wondering if the sellers would be allowed to just walk away like they did to the OP.

 

[Dean]

I know this what I was asking was "what would happen IF the Seller decides NOT to sell once Disney exercises their rights to take the contract" I was just wondering if the sellers would be allowed to just walk away like they did to the OP.

The answer is yes (historically). There have been those that have changed their mind at the point of ROFR. To my knowledge, DVC has never attempted a seller to complete the sale on ROFR and they've had many chances. They've also allowed many a buyer-seller combo to change the terms and resubmit rather than completing the ROFR transfer.

 

[ImagineerTHAT]

The answer is yes (historically). There have been those that have changed their mind at the point of ROFR. To my knowledge, DVC has never attempted a seller to complete the sale on ROFR and they've had many chances. They've also allowed many a buyer-seller combo to change the terms and resubmit rather than completing the ROFR transfer.

I guess this makes sense. If someone changes their mind, it's probably not worth it for them to go after them. They can always just take another contract.

 

[Dean]

I guess this makes sense. If someone changes their mind, it's probably not worth it for them to go after them. They can always just take another contract.

It also fits with their philosophy related to ROFR as, first and foremost, a tool to direct buyers to resale and to a degree, to control the resale prices and/or process.

 

[MousenMe]

Eh, so you find another contract. Worth the effort to save literally 100%.

I use a lot of my DVC points for the Disney Cruise. My understanding is that I cannot use points I may purchase through re-sale for booking cruises. For this reason alone I stay away from re-sale purchases.
That being said, I completely disagree and do not think Disney Vacation Club should be able to place these restrictions on owners. They already have their money and on top of that, they are willable and transferable but not saleable.....grrrr