ROFR Thread Oct to Dec 2020 *PLEASE SEE FIRST POST FOR INSTRUCTIONS & FORMATTING TOOL*

[Ruttangel]

So I just found out why my $86/point SSR passed ROFR...it came from an international seller!! I’m now pissed because I had no idea I was purchasing an international contract. My broker never mentioned it to me and it wasn’t noted on the initial paperwork I signed. I just received my closing documents and it was listed on there as well as a IRS form 8288.

I have heard horror stories of the IRS coming after people due to taxes not paid by the seller. Not sure if the great deal is worth all the headache. Is it too late for me to back out on the deal? Has this ever happened to anyone before?

There are people on these boards who will specifically ask for International Seller listings as they have an almost 100% ROFR pass rate.
This information can help get a bargain, as you got.
I wouldn’t pull out as you would lose deposit and there is nothing to worry about if everything is executed correctly.

 

[Bing Showei]

I wouldn’t pull out as you would lose deposit and there is nothing to worry about if everything is executed correctly.

Most likely, yes. But the possibility of something going wrong does exist.

I had purchased two international contracts within two months of one another. Both filed the correct paperwork. One went without a hitch.

The other involved receiving a letter from the IRS with a balance due plus interest and penalty. It took being transferred to 11 different IRS agents in six different departments, and five hours on the phone over the course of two separate days, to figure out why I was repeatedly getting a bill.

Despite sending documented proof (provided by the title company) of timely tax remittance, and acknowledgement on the part of the IRS of receipt of said proof and payment, threatening IRS letters continued to be sent speaking of liens and seizures. The IRS eventually acknowledged this was a known FIRPTA “glitch” in the system that should be ignored, as the letters are automatically sent out. Yay for tax dollars hard at work.

Everything can be done exactly right by all parties and you may still have to deal with FIRPTA. While not guaranteed, you probably will be fine. So despite batting .500, I’d do it again in a heartbeat for $86/pt... especially now that I have IRS navigation ninja skills.

 

[we"reofftoneverland]

So I just found out why my $86/point SSR passed ROFR...it came from an international seller!! I’m now pissed because I had no idea I was purchasing an international contract. My broker never mentioned it to me and it wasn’t noted on the initial paperwork I signed. I just received my closing documents and it was listed on there as well as a IRS form 8288.

I have heard horror stories of the IRS coming after people due to taxes not paid by the seller. Not sure if the great deal is worth all the headache. Is it too late for me to back out on the deal? Has this ever happened to anyone before?

You probably can pull out if you decide you want to for non disclosure. I would talk to the title company. Who are you using?

 

[TTA Rider Matt]

Kenito & Rustygirl8 : Good Luck on ROFR!

I saw another June Use Year for 35 Points, and it had all 70 Points for 2020.
By time I called to inquire, it had a bid accepted. The agent told me they got full listing price, which was $192/PP !
Does that seem really high to you all ?
Kenito should be hearing something pretty soon -
ET

$192 is quite high, but my dad recently bought a 30 point BCV contract with I think a Feb. UY for $190 a point, when asking was $160, so I guess it's not out of the question.

 

[ahward]

Is it me or has it been very quiet over the past week with regards to responses from Disney?

 

[Ssplashhmtn]

Is it me or has it been very quiet over the past week with regards to responses from Disney?

Layoffs?

 

[ahward]

Layoffs?

Possibly but they were already at a reduced rate which reflected in the ROFR response, surely they haven't reduced it by more?

 

[Lorana]

Possibly but they were already at a reduced rate which reflected in the ROFR response, surely they haven't reduced it by more?

Maybe they are going to back off of ROFR again... (I don't think so, but one can dream!)

 

[Pharmgirl123]

Most likely, yes. But the possibility of something going wrong does exist.

I had purchased two international contracts within two months of one another. Both filed the correct paperwork. One went without a hitch.

The other involved receiving a letter from the IRS with a balance due plus interest and penalty. It took being transferred to 11 different IRS agents in six different departments, and five hours on the phone over the course of two separate days, to figure out why I was repeatedly getting a bill.

Despite sending documented proof (provided by the title company) of timely tax remittance, and acknowledgement on the part of the IRS of receipt of said proof and payment, threatening IRS letters continued to be sent speaking of liens and seizures. The IRS eventually acknowledged this was a known FIRPTA “glitch” in the system that should be ignored, as the letters are automatically sent out. Yay for tax dollars hard at work.

Everything can be done exactly right by all parties and you may still have to deal with FIRPTA. While not guaranteed, you probably will be fine. So despite batting .500, I’d do it again in a heartbeat for $86/pt... especially now that I have IRS navigation ninja skills.

It’s stories like this that scare me! At the same time...it’s $86/point! I sent an email to the agent and let them know I want everything documented, including proof that they are sending the payment to the IRS.

I’m definitely going to need a Disney Vacation after all this!

 

[Pirates1996]

Is it me or has it been very quiet over the past week with regards to responses from Disney?

I was thinking the same thing. I keep checking this thread hoping to see some movement. We're only at day Day 23 for a CCV contract but I'm getting hopeful for news soon!

 

[mastersenton]

I was thinking the same thing. I keep checking this thread hoping to see some movement. We're only at day Day 23 for a CCV contract but I'm getting hopeful for news soon!

I’m on day 33 and it’s killing me....

 

[kerrylacherry]

Is it me or has it been very quiet over the past week with regards to responses from Disney?

Not just you, I was thinking the same thing. I'm on day 34 for BWV, and was hoping to hear by the end of last week since a bunch passed that were submitted around the same time as mine. No such luck just yet, still waiting...

 

[sugliac]

sugliac---$129-$26576-200-BCV-Oct-6/19, 200/20, 200/21- sent 10/7

First attempt! I have a direct contract with Villas at Grand Floridian home resort, but have been yearning to own at Beach Club Villas, as well. I was shocked (and pleased) to get someone to accept to this offer and am hoping it passes. The waiting... begins... now!

EDIT: I also wanted to shout out the DVC Store for being so awesome/helpful. I know they are a DIS/DVCFan sponsor, so I wanted to give Jerry and the team some love on here.

 

[Tink10]

Meant to post this in September...

I'm the seller, getting rid of our last SSR points:

Tink10---$95-$15002-150-SSR-Aug-0/19, 16/20, 146/21, 200/22- sent 9/7

 

[LadyBeBop]

It’s stories like this that scare me! At the same time...it’s $86/point! I sent an email to the agent and let them know I want everything documented, including proof that they are sending the payment to the IRS.

I’m definitely going to need a Disney Vacation after all this!

Assuming the agent does everything right, and you still have IRS problems, you can have a Taxpayer Advocate help you.

Although they’re Federal employees, Taxpayer Advocates work independently from the rest of the IRS. They help cut through red tape. Especially in sticky situations.

 

[jbreen2010]

Agreed the silence this week is killing me.

I'm still waiting to hear back on ROFR on my SSR contract that we sent on 8/11. There was a question from DVC to our broker on a form and they had to "resubmit" 9/10.

Either way i'm at either day 57 or 27 and the wait is terrible! Was really hoping to hear this week as I saw a handful of contract send of September & early Oct hear back within 30 days.

 

[Pharmgirl123]

Assuming the agent does everything right, and you still have IRS problems, you can have a Taxpayer Advocate help you.

Although they’re Federal employees, Taxpayer Advocates work independently from the rest of the IRS. They help cut through red tape. Especially in sticky situations.

Good to know! Thanks for the tip! The agent did respond to me and said they will send me a copy of the completed form + copy of the check to the IRS so I feel much better now!

 

[TwoHeartsBeat]

Is it me or has it been very quiet over the past week with regards to responses from Disney?

I've Been thinking the same thing. I'm checking this thread several times a day, and I see nothing but sent offers. Is there any type of a legal time limit for ROFR, or can they take as long as they want?

 

[E2ME2]

$192 is quite high, but my dad recently bought a 30 point BCV contract with I think a Feb. UY for $190 a point, when asking was $160, so I guess it's not out of the question.

He must have really wanted it, to pay $30 over the asking price.!

 

[E2ME2]

sugliac---$129-$26576-200-BCV-Oct-6/19, 200/20, 200/21- sent 10/7

First attempt! I have a direct contract with Villas at Grand Floridian home resort, but have been yearning to own at Beach Club Villas, as well. I was shocked (and pleased) to get someone to accept to this offer and am hoping it passes. The waiting... begins... now!

EDIT: I also wanted to shout out the DVC Store for being so awesome/helpful. I know they are a DIS/DVCFan sponsor, so I wanted to give Jerry and the team some love on here.

That's a great price if it gets waived!