ROFR Thread July to Sept 2020 *PLEASE SEE FIRST POST FOR INSTRUCTIONS & FORMATTING TOOL*

[gisele2]

I've read (on this forum - somewhere, I'm sure!) that disney doesn't take back contracts from international sellers/buyers. Is this true? Or did I dream that? Really clutching at straws here lol. Still a week to go to 30 days!!!!!

Pete did say it on a DVC show.

 

[twilightzone81]

I've read (on this forum - somewhere, I'm sure!) that disney doesn't take back contracts from international sellers/buyers. Is this true? Or did I dream that? Really clutching at straws here lol. Still a week to go to 30 days!!!!!

Someone had their VGF contract taken this week on the UK Disney forum I’m on

 

[LadybugsMum]

Update - we lost this contract!

So, we had passed ROFR on our SSR contract, Closing was underway, then, out of nowhere, our broker calls to let us know that upon completing the checks the Title Company has found out our seller has SOLD the contract (as well as the other our broker was selling) to their DAUGHTER, behind everyone's back and now won't return calls. Of course we'll get our Deposit back (less exchange rate differences). - Searching the Sellers (unique) last name on OC website confirms, and it seems they've been moving contracts around their family since 1994!

Thankfully DVC Store had a listing become available yesterday and after a call with Jerry we have submitted signed contracts and we're back in the game, be it 9 weeks behind schedule again!

I am so sorry. That's super shady of them. Why did they bother to go through a broker if they were just going to sell it to a family member???

 

[lea2124]

Someone had their VGF contract taken this week on the UK Disney forum I’m on

Oh damn. It was wishful thinking tbh. Is that a uk dvc forum? I'm on one. Will have a look out for it.

 

[twilightzone81]

Oh damn. It was wishful thinking tbh. Is that a uk dvc forum? I'm on one. Will have a look out for it.

I don't know if I'm allowed to name other forums so I won't. It's a UK Disney forum - not DVC specific though.

 

[Deeleebaker]

Which broker / title company held the funds until transfer? That's not very nice. All contracts I have seen had a clause that basically claw back at $20 (or whatever price) per point if the amount transferred is not as originally represented. There is no reason to hold funds in escrow for that long.

without the funds in escrow, how would they get the buyer the money back? I agree it sucks, but it makes sense to me.

 

[Daisybell911]

Oh damn. It was wishful thinking tbh. Is that a uk dvc forum? I'm on one. Will have a look out for it.

I know an International Seller doesn't guarantee passing but rumor around town is that it helps. I sure hope so because I have a 200+ point contract out there on OKW with a very good price and at this point, an international seller is the only thing I think may make it pass.

This contract will help solidify the IS myth. It seems like my contract is exactly what they are looking for

 

[Liquidice]

without the funds in escrow, how would they get the buyer the money back? I agree it sucks, but it makes sense to me.

Yeah with Disney taking so much longer than they used to to move the contract and the points over to the buyer, there is a higher risk that a dishonest seller could take a quick trip with the points they've sold and then the buyer would get less than expected. The contract stipulates that the seller will have to pay for every point they use - but if the money isn't in escrow it would be hard to go after the seller to get the money. I'm sure most sellers are honest, but this helps prevent that from happening.

 

[Jon84]

Sorry you had to go through that.

Thanks!! Thankfully the timing was just right on the other contract, with 10 points more, and no 2020 MF

That sucks, I hope that seller is blacklisted from ever listing again on DVC Store. Maybe their name should be shared so buyers and brokers know not to deal with them in the future.

This seller wasn't on DVC Store, it was Fidelity. The replacement contract is on DVC Store

I am so sorry. That's super shady of them. Why did they bother to go through a broker if they were just going to sell it to a family member???

No idea! They have a a fairly unique last name, so it was pretty easy to trace their contracts over the years on the OC Comptroller site. They have been moving contracts at all sorts of resorts (SSR, BWV, VBR, OKW) between family members since 1994!

I assume they wanted the money, or they are avoiding something or someone (IRS, Creditors etc)

 

[Jon84]

Pete did say it on a DVC show.

Theres some other threads on this.

Disney's accountant won't be afraid of a little tax form filling etc, they'll take an Intl if they want it!

 

[SG131]

Someone had their VGF contract taken this week on the UK Disney forum I’m on

But were they the buyers or the sellers? If the seller is international, disney won't buy it back, there are extra issues to deal with buying overseas that isn't worth their effort. Now if the buyer is the one overseas then they are just as likely as anyone else to get it taken depending on price.

 

[twilightzone81]

But were they the buyers or the sellers? If the seller is international, disney won't buy it back, there are extra issues to deal with buying overseas that isn't worth their effort. Now if the buyer is the one overseas then they are just as likely as anyone else to get it taken depending on price.

Yep, they were the buyer.

 

[dfan_welcomehomeall_19]

Apparently, no funds will be given to the seller until the transfer. Now, this is not all title companies. Mason Title sent me the proceeds of

This may give credence as to why some title companies handling the release of sale proceeds are waiting longer before releasing

Update - we lost this contract!

So, we had passed ROFR on our SSR contract, Closing was underway, then, out of nowhere, our broker calls to let us know that upon completing the checks the Title Company has found out our seller has SOLD the contract (as well as the other our broker was selling) to their DAUGHTER, behind everyone's back and now won't return calls. Of course we'll get our Deposit back (less exchange rate differences). - Searching the Sellers (unique) last name on OC website confirms, and it seems they've been moving contracts around their family since 1994!

Thankfully DVC Store had a listing become available yesterday and after a call with Jerry we have submitted signed contracts and we're back in the game, be it 9 weeks behind schedule again!

Thanks!! Thankfully the timing was just right on the other contract, with 10 points more, and no 2020 MF

This seller wasn't on DVC Store, it was Fidelity. The replacement contract is on DVC Store


No idea! They have a a fairly unique last name, so it was pretty easy to trace their contracts over the years on the OC Comptroller site. They have been moving contracts at all sorts of resorts (SSR, BWV, VBR, OKW) between family members since 1994!

I assume they wanted the money, or they are avoiding something or someone (IRS, Creditors etc)

 

[Sandisw]

Which broker / title company held the funds until transfer? That's not very nice. All contracts I have seen had a clause that basically claw back at $20 (or whatever price) per point if the amount transferred is not as originally represented. There is no reason to hold funds in escrow for that long.

If the funds are sent by check, how does one get the money back? The title company is www.trcsinc.com. They were great and efficient to work with but I guess this is what they chose to do.

I am going to email them today and let them know I have the contract but no points but give them permission to release funds If they want. I know a little about the owners situation and now that the contract is in my hands, the Points will be fine.

 

[Deeleebaker]

And I guess there is title insurance that might handle if points go “missing”

 

[dfan_welcomehomeall_19]

Another quiet day on the ROFR front...

 

[Grumpy by Birth]

Another quiet day on the ROFR front...

No news is good news?

P.S.
Grumpy by Birth---$100-$17868-160-AKV-Sep-0/19, 160/20, 160/21, 160/22- sent 8/13

 

[sethschroeder]

No news is good news?

P.S.
Grumpy by Birth---$100-$17868-160-AKV-Sep-0/19, 160/20, 160/21, 160/22- sent 8/13

If I were buying I would want ROFR to be happening right now. That way when my contract comes up in a couple weeks they would already have all the points they need for the 100 to 125 point increase that will happen.

Not saying yours will be taken just my thoughts.

 

[Liquidice]

Another quiet day on the ROFR front...

I feel like this entire week has been pretty quiet for ROFR's. Maybe we just don't have enough people on disboards who submitted contracts around that time. But we're at July 9th I think as the latest date ... hopefully next week is a little more active - and hopefully I hear back next week on mine

 

[Naglejen]

I feel like this entire week has been pretty quiet for ROFR's. Maybe we just don't have enough people on disboards who submitted contracts around that time. But we're at July 9th I think as the latest date ... hopefully next week is a little more active - and hopefully I hear back next week on mine

I agree - assuming the activity is waiving the ROFR instead of exercising it! I'm at my 30 day tomorrow for PVB, and I'm so worried they are going to take it. Despite being a non-negotiator, and therefore having paid more pp than I probably had to, I am not going to relax until I see that they have passed.