What happens iif buyer backs out

[whois figment]

I attempted to sell my SSR contract to a co-worker. I was just notified that it passed ROFR. I let my co-worker know and I was informed that he thinks his financing fell through. I gave him a good deal because I needed to sell it. Does anyone know if I can find another buyer to step in or do I have to start the process all over again?

 

[hellerjw]

My understanding is that since the parties involved would change you would have to start the process all over again. Even if the terms were the same, Disney would have to waive ROFR again.

 

[Deb & Bill]

I attempted to sell my SSR contract to a co-worker. I was just notified that it passed ROFR. I let my co-worker know and I was informed that he thinks his financing fell through. I gave him a good deal because I needed to sell it. Does anyone know if I can find another buyer to step in or do I have to start the process all over again?

Too bad you didn't go through a reselling company. If you had, you would now be the proud owner of half the deposit the potential purchaser had put up to buy the contract.

You need to start all over again and will have to go through ROFR a second time.

 

[Dean]

Too bad you didn't go through a reselling company. If you had, you would now be the proud owner of half the deposit the potential purchaser had put up to buy the contract.

You need to start all over again and will have to go through ROFR a second time.

buyers back out through resale companies as well, so do sellers at time. I'd guess it's actually as common or even more common, not less so, for people to back out when through a broker. Had they had a deposit, as they should have, they'd actually have the entire thing rather than half at this time.

 

[whois figment]

Thanks everyone I sold one of my contracts through a reseller but thought I had a buyer on this one. Oh well I will list this one with a resller once he notifies me one way or the other.

 

[Crystal_27]

Thanks everyone I sold one of my contracts through a reseller but thought I had a buyer on this one. Oh well I will list this one with a resller once he notifies me one way or the other.

That stinks -- but hopefully you can download your contract soon!