Sold Beach Club Contract

[chips]

We had a fully stripped Beach Club Contract and sold it through DVC Resale Market.

We had a good experience with Randy Cook, a sales associate at DVC Resale Market.

Contract was rofred and we are not allowed to discuss terms.

We were dealing with low ball offers and they blocked them and we sold for a fair price.

 

[chicagodisneyguy]

Congrats on the sale. Is it normal for ROFR contracts to stipulate not discussing pricing post close?

 

[Sandisw]

Congrats on the sale. Is it normal for ROFR contracts to stipulate not discussing pricing post close?

I had no such stipulation that I could not discuss what they took so it’s not something they require of all.

 

[thelionqueen]

Congrats on the sale. Is it normal for ROFR contracts to stipulate not discussing pricing post close?

This makes no sense to me. Why would there be such a stipulation from anyone? Not that anyone is necessarily curious about the details, just curious as to why there is a perceived notion that details are confidential

 

[Matty B13]

Now brokers are asking people to sign NDA????????

 

[Best Aunt]

I was thinking that perhaps OP thought there was a Disboards rule which prevented discussion re ROFR terms.

 

[Pens Fan]

Hopefully the OP will come back and let us know who was telling them to not discuss terms. That's a new twist in the process - and not a good one!

 

[chips]

Congrats on the sale. Is it normal for ROFR contracts to stipulate not discussing pricing post close?

The Disney contract stated to not disclose terms. This isn't a brokerage thing. If you ask the brokerage house about recent sales they will give you this information.

 

[chips]

The Disney contract stated to not disclose terms. This isn't a brokerage thing. If you ask the brokerage house about recent sales they will give you this information.

Also, the bidder can report that the contract went to Disney. This restriction was in the Disney contract with the seller.

 

[Sandisw]

Also, the bidder can report that the contract went to Disney. This restriction was in the Disney contract with the seller.

I’ll read my paperwork again but I don’t remember seeing it.

if it was taken in ROfR they simply accepted the terms of the original buyer. so people like me already posted the info prior.

ETA: it does say something to that effect. Never paid that much attention.

 

[sethschroeder]

Also, the bidder can report that the contract went to Disney. This restriction was in the Disney contract with the seller.

This is very strange. Especially since these all show up on the county site anyways from my understanding.

 

[BruinEd03]

This is very strange. Especially since these all show up on the county site anyways from my understanding.

What’s even more strange is what can Disney really do? Threaten to not buy the contract?

Also, thinking about it some more, I’m not sure Disney can even do that. It says they have ROFR in the purchase documents when the OP bought the contract. However I’m not sure it says they would be able to add the extra condition of secrecy if they decide to exercise their ROFR. So, they are in fact not putting together the same offer. Secrecy as a condition usually requires extra payment as it’s an extra burden on the person.

 

[Sandisw]

What’s even more strange is what can Disney really do? Threaten to not buy the contract?

Also, thinking about it some more, I’m not sure Disney can even do that. It says they have ROFR in the purchase documents when the OP bought the contract. However I’m not sure it says they would be able to add the extra condition of secrecy if they decide to exercise their ROFR. So, they are in fact not putting together the same offer. Secrecy as a condition usually requires extra payment as it’s an extra burden on the person.

I was thinking about this and I wonder if the page that this info is on is related to when Disney buys a contract back privately from a seller who goes to them vs through the ROFR process.

In that case, it would make sense as those never involved a separate buyer.

 

[dsanner106]

We had a fully stripped Beach Club Contract and sold it through DVC Resale Market.

We had a good experience with Randy Cook, a sales associate at DVC Resale Market.

Contract was rofred and we are not allowed to discuss terms.

We were dealing with low ball offers and they blocked them and we sold for a fair price.

Congratulations! Is this Disney that is not allowing discussion of the terms? Just curious.

 

[heynowirv]

I don't remember that happening to us either. We sold a BWV contract that Disney took and there was no such mention of not disclosing it, after all it's not like we offered it to them, they took it from our buyers.

 

[Sandisw]

Congratulations! Is this Disney that is not allowing discussion of the terms? Just curious.

There is one paper in the closing documents that mentions it. It’s the Release document.

I didn’t even notice it when we signed.

 

[Azndjdude]

There is one paper in the closing documents that mentions it. It’s the Release document.

I didn’t even notice it when we signed.

View attachment 673833

Interesting.

 

[RKS03]

There is one paper in the closing documents that mentions it. It’s the Release document.

I didn’t even notice it when we signed.

View attachment 673833

This is a odd requirement when those weren’t the terms with original buyer. The waiver also seems to sign away any legal complaints currently or in the future. What would happen if the seller refuses to agree to these additional conditions? Could they back out without penalty?

 

[Sandisw]

This is a odd requirement when those weren’t the terms with original buyer. The waiver also seems to sign away any legal complaints currently or in the future. What would happen if the seller refuses to agree to these additional conditions? Could they back out without penalty?

It is weird and as I mentioned above, I wonder if this is a document that they use when they actually take a contract back from a seller who contacts them directly and not something that goes through the ROFR process where they step in as buyer.

Maybe if they decide to cut a deal with someone who contacts them in financial situations and they agree to take it back, this document prevents the owner from disclosing that private deal. But, with ROFR, the info is already out there since it involved another buyer to begin with.

As owners, we agree to give DVD the ROFR, so I think we would be liable for following through with the terms of it in the end.

 

[wnielsen1]

I would refuse to sign the document. Then what?