Timeline help please

[disneyhutson]

I'm purchasing a resale contract waiting to clear ROFR but need to know the timeline if it passes ROFR. Such as when will we need to send in a cashiers check? I want to leave our money invested as long as possible but it takes on average 5+ days after ordering a check to receive. And the last thing I want to do is hold up the contract by one day! Thank you

 

[cmrdgrs]

Disney has up to 30 days for the ROFR process. So, when it will make its way though ROFR is an unknown. I've seen people post that their contract passed the ROFR process in days, and I have seen it take the full 30 days. After your contract passes ROFR, when is the balance due to your broker? You also want to make sure you don't violate the terms of your contract.

 

[CMNJ]

After ROFR closing company has to get Estoppel from Disney and prepare closing documents. Our broker's general timeline is 10-14 days but we were quoted 17 when we passed ROFR in early Jan. We received our closing documents 15 days after ROFR. So if it will take you 5 days to get a check you probably want to get started right after passing ROFR in case your timeline is on the lower end. I would think most closing companies would have similar turn around times for estoppel/closing document preparation.

 

[disneyhutson]

Perfect ..That works great ...just needed some sort of timeline. So yes after passing ROFR, I will ask my husband for a check! Thank you thank you thank you

 

[summabreeze85]

There is no set time for the estoppel, and after the title company receives the estoppel they still have to prepare the closing docs and it gets a little more complicated if financing is involved.
I passed rofr on a contract Jan 7th and recieved the closing docs Jan 14th. That was the fastest ive ever gotten them.
I also passed on a seperate contract Jan 9th. I didn't receieve those docs until Feb 5th. The closing agent at the title company said disney has been really busy. I don't understand how there was such a holdup when there was only 3 days between the two but you never know.

 

[lgpav1]

We had our docs 2 or 3 weeks after passing the rofr.

 

[disneynutz]

Doesn't matter what we say, check with your broker for their policy.

Bill

 

[Minniesgal]

My broker usually said not to rush the cheque as sellers always took longer than buyers as they have more to do. Your target closing date is on your contract. I would just make sure you have requested it for well before that and you will be fine.