Waiting more than 30 days?

[jp02]

Just curious how many people have had to wait more than 30 days to hear back from Disney about ROFR? Yesterday was 30 days so I called the broker company today and they told me they usually hear back Tuesday, Wednesday, or Thursday afternoons. Just getting anxious and want to know if we passed or not

 

[TigBaby]

I was notified on April 9th that my contract was sent to Disney for ROFR. Today I was notified that they waived it. This was on a BLT contract for 250 points. I was expecting it to take longer. Good luck!

 

[zgirlz]

Jp02, I think you are in the minority having to wait that long. We submitted three contracts, two were taken by Disney and this last one passed. All were within the 30 day timetable. I hope you hear very soon and hope the news is good!

 

[Pirate Granny]

Nope I had the same luck today with a 150 VWL contract, in on the 10th and was notified it pass through today!

 

[disneynutz]

The pattern seems to be that if they are taking the contract, you will be notified early. If they aren't, they make you wait.

Bill

 

[kkolbusz1]

Just curious how many people have had to wait more than 30 days to hear back from Disney about ROFR? Yesterday was 30 days so I called the broker company today and they told me they usually hear back Tuesday, Wednesday, or Thursday afternoons. Just getting anxious and want to know if we passed or not

Ours was 32 days. We found out on the 22nd we passed & just got our closing docs today. I need to book our vacation for later this year. I hope our sellers are quick! We're over-nighting our docs.

 

[Best Aunt]

21 days to hear that they are not taking the contract. Just heard on Monday.

 

[lovin'fl]

Just curious how many people have had to wait more than 30 days to hear back from Disney about ROFR? Yesterday was 30 days so I called the broker company today and they told me they usually hear back Tuesday, Wednesday, or Thursday afternoons. Just getting anxious and want to know if we passed or not

I think you're using the same broker as kkolbusz1.

 

[RobDoc]

Just curious how many people have had to wait more than 30 days to hear back from Disney about ROFR? Yesterday was 30 days so I called the broker company today and they told me they usually hear back Tuesday, Wednesday, or Thursday afternoons. Just getting anxious and want to know if we passed or not

You shouldn't really need to wait more than 30 days. ROFR means that Disney has 30 days after submission to purchase the contract themselves - I don't think they have an obligation to give approval for the sale (although they will usually do so).

You should be able to set the closing for 30 days after submitting the document to Disney - as you will have fulfilled your responsibility regarding that requirement. Disney has the responsibility to tender their intent to purchase within 30 days or they lose that as an option.

Some brokers won't do anything until they hear from Disney (especially if they are trying to protect some relationship with Disney), but ROFR gives both sides responsibility. The seller MUST submit the offer to Disney and Disney must act on it within 30 days. If they have exercised their option within that timeframe, the closing can proceed. I think the ROFR wording is something to the effect that offer must be submitted for ROFR at least 30 days before closing. If you are already beyond 30 days I would push the broker to fulfill their responsibility to you - whether you are the seller or the buyer.

 

[jp02]

UPDATE:
I spoke with the broker yesterday and they said the owner banked they one point from 2012 and got confirmation, but Disney didn't have records of it. Therefore, it has really only been 3 weeks according to Disney and next Tuesday will be the 30 day mark. Of course since they didn't take it this wk I'm hoping this means they are waiving their right. The broker did say we will still close on time even with this delay. Thanks for the replies.