What actually happens to the seller when ROFR strikes?

[Artemis Fowl]

When Disney takes a contract in ROFR, how does that effect the seller?
The seller gets the same price.
Does the closing date change? Does the closing costs change? Does the deed still get recorded with the recorded?

I know buyers lose their deal when ROFR strikes, but if you're the seller does it matter in any way?

 

[erionm]

The only thing different to the seller is the who the actual buyer is. The original terms of sale are unchanged and the closing date should not change either. Yes, a new deed would be recorded to reflect the change in ownership of the points.

 

[MagicDVC]

When Disney takes a contract in ROFR, how does that effect the seller?
The seller gets the same price.
Does the closing date change? Does the closing costs change? Does the deed still get recorded with the recorded?

I know buyers lose their deal when ROFR strikes, but if you're the seller does it matter in any way?

Nope, seller gets the same money. Disney becomes the buyer with the same purchase agreement stipulations. Buyers lose the sale, but sellers just get their $$$. Buyers do get their deposit back.

 

[Sandisw]

When we got a contract taken last year, DVD didn’t close it until the last possible date.

Which was almost 3 months after they excercised ROFR.

I dis save the small few related to estoppel it alll else was exactly the same for me as seller.