Surprise! Your low ball offer has been accepted!

[iheartglaciers]

I still think I got pretty good deals on my contracts, but I have never had one taken in ROFR, which makes me think I *could* go lower. I sense an MK or BWV add on in the future. But maybe next year or so.

Addonitis!! I thought the EP resort was out of the picture hahaha.

You've gotten some great deals. I don't think you can take not getting ROFR'd as a sign that you haven't negotiated enough. Sometimes it's seemingly so random what they take. I guess because of the unit matching thing they need to do.

 

[Bruin_mouse]

Well shucks @TexasChick123 you must have sent some Yellow Rose of Texas magic my way, I was just notified that my lowball Aulani offer was accepted. I just put in the offer to see what the counter would be!

 

[TexasChick123]

Well shucks @TexasChick123 you must have sent some Yellow Rose of Texas magic my way, I was just notified that my lowball Aulani offer was accepted. I just put in the offer to see what the counter would be!

That's awesome. As my parents always taught me, "The answer is always no until you ask." Congrats, and good luck with ROFR!

 

[Bruin_mouse]

That's awesome. As my parents always taught me, "The answer is always no until you ask." Congrats, and good luck with ROFR!

Thanks! (I think)

 

[Lola_Stark42]

I would like to jump on the lowball offer train if that’s okay. I put in an offer on OKC yesterday, which was waaaaaaaay low, but I figured, hey, they can say no, or they can counter. Well, I got the email that they accepted!! I’m still convinced this is some terrible April Fools prank. I don’t want to say the price *just* yet, especially since I’m still waiting to sign documents to send it to ROFR. But for now I’m just going to keep everything crossed!

 

[summabreeze85]

i would bet money that'll get taken by the mouse. someone just had a 160 point ssr w no 17 or 18 points taken at $90.

 

[JoanneDL]

I think you'll be good to go. We did our OKW contract a few months ago for $83 a point.

 

[kniquy]

I just put in the offer, and they accepted it.

I think the acceptance of an offer really depends on the selling parties situation. If they are selling because they have had a hard ship and still need to pay off a loan -- then they might have to stand firm. If they bought when SSR first went on sale (which looks to have been selling at $95pp or lower with any incentives) then for them to sell at $85 per point and have had many years of use -- they are doing well with making back a good chunk.

It really is a game and you don't really know what the other side situation is, so you can't go crazy low on your offer but really what do you have to lose with pushing the limits.

 

[mustinjourney]

Thanks. I plan on sharing the info once everything has been signed by both parties. Let’s be honest, it isn’t a contract until we both sign and send in.

And even after it is signed by both parties, we both know it is not all that enforceable.

Hopefully you are smooth sailing for the whole time!

 

[Lola_Stark42]

And even after it is signed by both parties, we both know it is not all that enforceable.

Hopefully you are smooth sailing for the whole time!

Can you elaborate on that? How could the contract not be enforced after being signed by the buyer and seller?

 

[Matty B13]

Can you elaborate on that? How could the contract not be enforced after being signed by the buyer and seller?

There have been issues with sellers just walking away from sales after signing the contract and also after estoppel. They are few, but it does happen.

 

[TexasChick123]

Can you elaborate on that? How could the contract not be enforced after being signed by the buyer and seller?

He’s referring to the fact that there have been many instances where sellers backed out at some point despite there being a signed contract. The buyer could sue them for specific performance, but what’s the point? Also, the agents lose money on it because they don’t get paid. The lawsuit would cost more than the commission.

***This definitely isn’t the norm, but it has happened more than it should.

 

[Bruin_mouse]

He’s referring to the fact that there have been many instances where sellers backed out at some point despite there being a signed contract. The buyer could sue them for specific performance, but what’s the point? Also, the agents lose money on it because they don’t get paid. The lawsuit would cost more than the commission.

This is why the ROFR anxiety has never made a lot of sense to me. Unless you have an absurdly low contract price, the seller just walking away is a much larger threat. I lived this anxiety first hand as I watched VGC prices skyrocket recently from our agreed $150/point price on January 18th to north of $180 when the deed recorded on March 7th. My seller could have walked away at any point before closing and pocketed an additional $4,000 easily from another buyer. A price increase that dramatic in that short of a time frame is unlikely, but a seller can change their mind for any number of reasons other than price. @mustinjourney and @TexasChick123 are right that as a practical matter buyers have no recourse in these situations.

 

[Lola_Stark42]

I did ask my agent about that, and he said that it is very rare for that to happen. I guess to me it doesn’t make much sense, because then the seller is still stuck with a contract they supposedly didn’t want in the first place.

In other news, my absurdly low offer has been signed by the sellers and sent to Disney for ROFR!!

 

[TexasChick123]

I did ask my agent about that, and he said that it is very rare for that to happen. I guess to me it doesn’t make much sense, because then the seller is still stuck with a contract they supposedly didn’t want in the first place.

In other news, my absurdly low offer has been signed by the sellers and sent to Disney for ROFR!!

I think they’d want to sell it at a higher price and make more $$$.

 

[Lola_Stark42]

But then why accept the offer in the first place? If you want more money, you would thing the seller would say no right? Maybe I'm still new to all this, even though I've been researching it for several years.

 

[mustinjourney]

But then why accept the offer in the first place? If you want more money, you would thing the seller would say no right? Maybe I'm still new to all this, even though I've been researching it for several years.

In the last year -- prices were steadily rising. Like the other person said, they bought VGC for $150 a point...that person probably could have backed out and then sold it for $180. That's a significant amount of extra money for the seller if they chose to back out. and if the seller knows that there is no downside to doing this other than maybe finding another agent -- it's probably worth waiting another couple months to get paid.

 

[mustinjourney]

Can you elaborate on that? How could the contract not be enforced after being signed by the buyer and seller?

As others have said...

Yes -- the buyer could sue them -- and yes, they should win. However, the time and costs involved would greatly outweigh the "reward." And that's even if you could collect the damages. The judge doesn't just force someone to write a check right there on the spot.

At best, let's say you win $5000 in damages. You'll spend thousands getting to that point in attorney fees...then thousands more trying to collect -- especially if they're in another state. And even then, they might be judgment proof. You can't garnish wages for this type of action in most, if not all states. So most likely, you'd end up selling your judgment to a debt collector for 10 cents on the dollar and then they'd go about hassling the person. So your $5000 judgment would be $500 and you've probably wasted a year of your life...meanwhile, prices have probably gone up even more.

So in the end -- you're better off walking away and finding another contract.

 

[Bruin_mouse]

In other news, my absurdly low offer has been signed by the sellers and sent to Disney for ROFR!!

Count me in on this train, my contract just got sent in as well!

But then why accept the offer in the first place? If you want more money, you would thing the seller would say no right? Maybe I'm still new to all this, even though I've been researching it for several years.

Speaking for my own situation, things can change between listing and closing. Like I mentioned, my contract for VGC was priced at $150/point in January, and the sellers were firm there. That's about where it was when I first started looking last August and my understanding is that it's been roughly around there for the last couple years. $150 was a very reasonable asking price at listing. After we went into contract, whether it was because of the direct purchase price increase or because people figured they'd rather be in the gorgeous humidity free weather of Southern California than in Florida, resale prices for VGC sky rocketed. My sellers very easily could have walked away and made more money with only a couple extra months waiting time.

 

[Lola_Stark42]

Thank you everyone for the additional explanations. Good luck to everyone waiting for the mouse!