ROFR Thread April to June 2023 *PLEASE SEE FIRST POST FOR INSTRUCTIONS & FORMATTING TOOL*

[KatieKuzy]

Congrats & Welcome Home.
It looks like you're new to the disboards!
Are you new to DVC?, or already an owner ??

New to Dis Boards, new to DVC! Closing on our first resale contract now. Finding my footing here, but happy to be here!

 

[The_MT]

New to Dis Boards, new to DVC! Closing on our first resale contract now. Finding my footing here, but happy to be here!

Congrats and welcome! Fair warning that participating in this thread is well known to cause severe cases of Add-On-Itis!

 

[chlwodud85]

Congrats and welcome! Fair warning that participating in this thread is well known to cause severe cases of Add-On-Itis!

I have not even gone to my first visit as a DVC member but have another contract in ROFR... its dangerous

 

[MsChristy12]

I have not even gone to my first visit as a DVC member but have another contract in ROFR... its dangerous

LOL!! I will be in the same boat if I can find that 2nd one I want....

 

[MsChristy12]

My closing company informed me that the sellers have someone on vacation until 6/19 so they can't get anything notarized yet. Bummer!

My escrow officer told us last week that they were waiting for a few more items from the sellers. Yesterday I checked in with her again and they are STILL waiting....ugh!! I already knew these sellers are slow from the beginning...it took them 3 or 4 days to send back the contract after they accepted the offer Like C'mon...don't you want your money already?

 

[Good Ol Gal]

I have not even gone to my first visit as a DVC member but have another contract in ROFR... its dangerous

So So dangerous

 

[buzzandzurg]

buzzandzurg---$150-$29071-180-VGF-Jun-0/22, 263/23, 180/24- sent 5/19, passed 6/7

Passed! And I've also closed. Now just waiting for my points!

 

[Chili327]

So who comes here every day-multiple times of day to see who passed ROFR?? ME, I do.

Not since it passed ROFR, but keeping track of prices, is addicting.... and leads to the next response.

I have not even gone to my first visit as a DVC member but have another contract in ROFR... its dangerous

Just bought first contract earlier this year, still haven't been to WDW & already made an offer on another. lol

 

[mkatsy]

My escrow officer told us last week that they were waiting for a few more items from the sellers. Yesterday I checked in with her again and they are STILL waiting....ugh!! I already knew these sellers are slow from the beginning...it took them 3 or 4 days to send back the contract after they accepted the offer Like C'mon...don't you want your money already?

what items could they need? Isn't it just the notarized contract? the estoppel fee and the brokers commission is deducted from the proceeds. I've been waiting a week for my sellers to sign. I know it's not an abnormal amount of time BUT they accepted my offer the same day I made it, and signed the paperwork the same day we got it. Now the broker is leaving them voicemails to try and find out what the holdup is. I took a look over at the "closing" thread to see what kind of closing holdups people have encountered. I wish I hadn't .... 1. undisclosed reservations 2. mortgage on the contract that is in excess of the selling price 3. using a family member as a witness. I have a PVB contract that is still waiting it's turn at ROFR, I'm not sending a dime on that contract until the seller signs.

 

[TinkB278]

I was very surprised no one snagged that one within a few hours that was listed.

What was it listed at?

 

[MsChristy12]

what items could they need? Isn't it just the notarized contract? the estoppel fee and the brokers commission is deducted from the proceeds. I've been waiting a week for my sellers to sign. I know it's not an abnormal amount of time BUT they accepted my offer the same day I made it, and signed the paperwork the same day we got it. Now the broker is leaving them voicemails to try and find out what the holdup is. I took a look over at the "closing" thread to see what kind of closing holdups people have encountered. I wish I hadn't .... 1. undisclosed reservations 2. mortgage on the contract that is in excess of the selling price 3. using a family member as a witness. I have a PVB contract that is still waiting it's turn at ROFR, I'm not sending a dime on that contract until the seller signs.

I have no clue what they are waiting on, but it has been 3 weeks now. I hope nothing crazy is happening on their end. I'm sorry to hear you're also waiting on yours to close. It is a bit frustrating honestly because this should be a very easy and simple real estate transaction. Nothing complicated. Unless, of course like you said they have some unusual situation with their contract that they didn't disclose earlier. I hope both of us can close soon!

 

[MsChristy12]

What was it listed at?

I believe it was a 75pts contract @ $130pp.

 

[Sandisw]

I have no clue what they are waiting on, but it has been 3 weeks now. I hope nothing crazy is happening on their end. I'm sorry to hear you're also waiting on yours to close. It is a bit frustrating honestly because this should be a very easy and simple real estate transaction. Nothing complicated. Unless, of course like you said they have some unusual situation with their contract that they didn't disclose earlier. I hope both of us can close soon!

Two of the contracts I bought had sellers that needed more time. One was going through chemo and radiation and the other was in the Navy.

I did threaten to pull out after three weeks for one od them, and lose my deposit..papers arrived in two days.

So, I think there are lots of reasons that can delay a seller, but it doesn’t change things being frustrating.

 

[MsChristy12]

Two of the contracts I bought had sellers that needed more time. One was going through chemo and radiation and the other was in the Navy.

I did threaten to pull out after three weeks for one od them, and lose my deposit..papers arrived in two days.

So, I think there are lots of reasons that can delay a seller, but it doesn’t change things being frustrating.

Wow...it took threats for them to get just some simple paperwork done huh? That's crazy. Don't get me wrong, I know people have tough times or whatever situations they may be going through that causes delay, but it's also not fair to the buyers to keep waiting.

 

[Sandisw]

Wow...it took threats for them to get just some simple paperwork done huh? That's crazy. Don't get me wrong, I know people have tough times or whatever situations they may be going through that causes delay, but it's also not fair to the buyers to keep waiting.

Unfortunately it did for the guy in the Navy…he just didn’t want to take a day off mid week and was waiting for his day off to fall on a week day.

It’s one of the worst part of resale.

 

[MsChristy12]

Unfortunately it did for the guy in the Navy…he just didn’t want to take a day off mid week and was waiting for his day off to fall on a week day.

It’s one of the worst part of resale.

Now THAT is not okay!! What if his next weekday off wasn't until another month?

 

[lovethesun12]

Now THAT is not okay!! What if his next weekday off wasn't until another month?

Personally I don't completely blame this on sellers, although sometimes they do play a role I'm sure. Disney is so unpredictable that even if they tried to take time off in advance, they would probably be wrong about it.

It's not just inconsistent ROFR times either. The time it takes for the contract to get sent to Disney (which varies by broker) and time to get closing docs (which varies by closing company) and even the most vigilant seller may wind up in a situation that makes it difficult to get signatures. From my experience, Disney has always been the slowest, most unpredictable step in selling.

Definitely as unfortunate for the buyer as it is for the seller though. I'm assuming this is why the buyer is given the advantage of having a closing date for that reason; it gives them an escape route.

 

[Sandisw]

Now THAT is not okay!! What if his next weekday off wasn't until another month?

I know..,which is why I was willing to lose my deposit and walk away…there was a direct incentive for RIV going on that I wanted to take advantage of if the resale fell through and would be ending.

But, to be honest, I prefer direct now so I dont need to do this anymore! Lol

 

[karen4546]

I know..,which is why I was willing to lose my deposit and walk away…there was a direct incentive for RIV going on that I wanted to take advantage of if the resale fell through and would be ending.

But, to be honest, I prefer direct now so I dont need to do this anymore! Lol

You would lose your deposit? We only put down $1000 for our small contract and even though $1000 is not a huge some of money, I would not want to lose it due to the seller's procrastination.

 

[Sandisw]

You would lose your deposit? We only put down $1000 for our small contract and even though $1000 is not a huge some of money, I would not want to lose it due to the seller's procrastination.

I was going to walk before the closing date of the contract so it would be considered a buyer default.

The closing date was still 3 weeks away and after the incentive would end so it was worth it if I had to walk away. But, it was enough for seller to become motivated.