Seller selling multiple contracts Q (updated)

[Bellex917]

EDIT/UPDATE: I reached out to my agent after reading the responses that this was abnormal and there was some confusion- we are waiting on four sellers, not the four contracts, which makes WAY more sense. Thanks for confirming it was odd so I reached out!

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I am in the process of buying a contract right now and have hit a unique (to me) situation and wanted to see if this was common. Seller is selling multiple contracts to the same resort. I am buying only one of them. It's been over a week since we signed and paid our deposit. There was an issue with the document so I had to resign everything a week after the initial signing, fine. But I'm being told the contracts won't go into the ROFR period until all of the contracts have been signed by all of the buyers, etc.

Is this common? It's not a huge issue, but I don't get why all of the contracts are waiting. Why wouldn't mine, which is fully signed and had been, go into ROFR, and why would it have to wait for others who have nothing to do with me? Sorry if this is common, I just hadn't encountered it.

 

[KAT4DISNEY]

Not normal. Only thing I can think of why it might be is that there was a mix up in all the documents with the contract numbers. Then they might need to wait to get all the corrected ones into DVC. What was the reason you needed to re-sign new documents?

 

[Bellex917]

I needed to resign bc the closing date was wrong in the original documents apparently. I'm frustrated because I don't like waiting on others. My documents were signed within 5 minutes. My deposit was sent within 5 minutes of getting the link. I don't mind waiting on the SELLERS, but waiting on multiple sets of other buyers is insane.

 

[Sandisw]

I have never heard of it happening like this. I get why it would be frustrating. I’d want to follow up to make sure that their won’t be a delay in closing if things don’t come back from ROFR at the same time.

 

[KAT4DISNEY]

I needed to resign bc the closing date was wrong in the original documents apparently. I'm frustrated because I don't like waiting on others. My documents were signed within 5 minutes. My deposit was sent within 5 minutes of getting the link. I don't mind waiting on the SELLERS, but waiting on multiple sets of other buyers is insane.

Well that's no reason to be waiting on any others. Each contract stands on its own in a sale. I'd push back on this one.

FWIW I have sold multiple contracts all at one time. They each had their own timeline completely dependent on each sale. None were reliant upon the buyers coordinating in any way.

 

[Bellex917]

Thanks for responding- I reached out to my agent and I think I'm the one who misunderstood! He kept saying we had to wait for "all four" so I thought he meant CONTRACTS, he meant SELLERS. Which makes way more sense. Thanks for answering, it pushed me to clarify.

 

[KAT4DISNEY]

Thanks for responding- I reached out to my agent and I think I'm the one who misunderstood! He kept saying we had to wait for "all four" so I thought he meant CONTRACTS, he meant SELLERS. Which makes way more sense. Thanks for answering, it pushed me to clarify.

Ah yes. Now THAT one I've run into before! lol

 

[Bellex917]

Ah yes. Now THAT one I've run into before! lol

I'm mortified... I teach English... and clearly couldn't understand this basic concept LOL! I probably sounded like a total idiot, but whatever, at least now I know what I'm dealing with haha!