ROFR Thread April to June 2019 *PLEASE SEE FIRST POST FOR INSTRUCTIONS & FORMATTING TOOL*

[jamie3631]

Jamie,
What does it mean 'not have a clear title' and why could it not have been resolved so your purchase could still go through?

Thanks for the clarity and sharing your experience (in case it happens to me in the future).

This one was our fourth attempt in the past 2 years, and honestly the first time I have ever heard of this happening! Apparently the seller had two DVC contracts. He signed one over to his son in a quit claim deed. Well, he signed the wrong title over to his son. This should have been an easy fix, but to further complicate matters apparently something must have happened to the son as the seller had Power of Attorney for his son. The POA was not properly executed so the title company could not accept it. I was told that this would take anywhere from 6 months to 2 years to fix as it has to go through the courts! Needless to say I was not going to wait. I had never heard of this happening before, and was so shocked, as I just assumed once you pass ROFR that it's pretty much clear sailing from there, i'ts just a question of how quickly the process goes, not whether it will still go. I was so disappointed because it was a steal of a deal.

 

[disneygirl281]

Disneygirl281---$157-$16915-100-VGF-Jun-0/18, 105/19, 100/20- sent 4/1, passed 4/16

We passed today!!

So sorry to those with the ridiculously long waits and good luck to everyone!

 

[jamie3631]

Disneygirl281---$157-$16915-100-VGF-Jun-0/18, 105/19, 100/20- sent 4/1, passed 4/16

We passed today!!

So sorry to those with the ridiculously long waits and good luck to everyone!

Congratulations! Great contract!

 

[RussellandCo]

Would you be comfortable sharing what your experience was when you purchased direct?

Is there a way to private message you? I don’t mind sharing I just don’t want to flame them in a public forum. Although, they are keenly aware they screwed up big time.

 

[Katie L]

Is there a way to private message you? I don’t mind sharing I just don’t want to flame them in a public forum. Although, they are keenly aware they screwed up big time.

You have to post a certain number of times to get PM privileges so keep posting! Then PM me the story.

 

[DisneyOutsider]

One thing I'm realizing as I'm analyzing the long-term costs of DVC ownership (on a net-present-value basis) is that the initial purchase price is a pretty insignificant factor in the grand scheme of things.

I've been running calculations on Grand Floridian contracts and realizing that a 6% increase in initial purchase price only results in a 2% increase in the net-present-value of my "per trip" lodging expenses. Paying the direct price at GF ($245 per point) is a huge increase over say, paying $160 per point, which raises the "per trip" cost by 18%. But I think I'm going to rethink my whole "bargain shopping" mindset because at the end of the day, the hassle you go through in likely having some contracts taken in ROFR and in negotiating with sellers to save $10 per point just doesn't save you very much. It might be worth it for a 2% savings to some, but I'm starting to rethink whether or not it is for me.

This is a good point and it's absolutely true, especially so for the newer resorts with 40+ years left on the contacts.

The issue for me is I refuse to finance a single penny of this purchase, and so my available capital is very finite, leading me to negotiate as hard as i can.

 

[PamTimMN]

PamTimMN---$87-$26844-300-BRV@WL-Dec-0/17, 0/18, 0/19, 300/20-seller pays '19 MF- sent 3/17, passed 4/12

 

[Hjs33]

Congratulations! Great contract!

Congrats! I sent my VGF a few days after you so hopefully I’ll also hear soon.

If you don’t mind me asking, what was your closing date on your contract?

 

[PamTimMN]

Congrats! I sent my VGF a few days after you so hopefully I’ll also hear soon.

If you don’t mind me asking, what was your closing date on your contract?

Our closing is scheduled between June 6 and June 24. Thanks for the reply and hoping it goes ok for you!

 

[disneygirl281]

Congrats! I sent my VGF a few days after you so hopefully I’ll also hear soon.

If you don’t mind me asking, what was your closing date on your contract?

The date on our contract to tentatively close is 6/10/19. Feeling very thankful it passed in 2 weeks! Good luck with your VGF!

 

[disneygirl281]

Congratulations! Great contract!

Thank you!!

 

[Iestyn5150]

PamTimMN---$87-$26844-300-BRV@WL-Dec-0/17, 0/18, 0/19, 300/20-seller pays '19 MF- sent 3/17, passed 4/12

Whoa, great contract, well done!

 

[Daisybell911]

I think I lucked out on a closing date. I signed my contract on 4/2, it was sent to ROFR on 4/3 and I have a closing date of 5/28. 56 days from start to finish so it is possible to have less than 60 days for closing. I didn't negotiate that date but since we know it can be done, maybe you can request a closing date. I hope that helps some buyer/sellers out there.

And its good to see the first decision for contracts sent in April. Hopefully more folks who submitted in March will have answers soon.

 

[Dan1]

Right, this is our first attempt at buying DVC and I didn't realize that was something I should push back on. Which broker are you using?

Sent you a PM.

 

[Disneykate605]

PamTimMN---$87-$26844-300-BRV@WL-Dec-0/17, 0/18, 0/19, 300/20-seller pays '19 MF- sent 3/17, passed 4/12

Congratulations!
I'm waiting to hear on a BRV contract as well. I hope I hear soon...that it passes! The waiting is torture!

 

[mrsap]

DAY 47.............

Hi guys, I just wanted to update you all. I received a phone call back yesterday from Disney. They told me they still do not have a decision on my contract... that contracts go through two stages, and mine has only gone to the first one. I’m assuming that means it’s being taken, but she would not tell me either way. However, she did tell me that they have been basing the speed of their responses on ROFR based on contract closing dates. Because my contract closing date shows May 22, mine would go towards the bottom of the pile - where say somebody who has a closing date of May 1 would get more of a priority. She also mentioned they do have until the closing date to make a decision. I told her that timeframe is ridiculous and that having to wait almost 50 days to be told it was taken, is absolutely unacceptable. I told her not only am I a direct owner/buyer, but I am also a resale owner/buyer. I told her with my first resale contract one year ago, I heard I passed ROFR within 14 days and was closed within a timely fashion. This isn’t the same great experience that I had the first time around. She apologized and said she will voice my concerns to the proper people. So we’ll see. I hope they let me know by the weekend. I’m SO beyond over it.

 

[Iestyn5150]

DAY 47.............

Hi guys, I just wanted to update you all. I received a phone call back yesterday from Disney. They told me they still do not have a decision on my contract... that contracts go through two stages, and mine has only gone to the first one. I’m assuming that means it’s being taken, but she would not tell me either way. However, she did tell me that they have been basing the speed of their responses on ROFR based on contract closing dates. Because my contract closing date shows May 22, mine would go towards the bottom of the pile - where say somebody who has a closing date of May 1 would get more of a priority. She also mentioned they do have until the closing date to make a decision. I told her that timeframe is ridiculous and that having to wait almost 50 days to be told it was taken, is absolutely unacceptable. I told her not only am I a direct owner/buyer, but I am also a resale owner/buyer. I told her with my first resale contract one year ago, I heard I passed ROFR within 14 days and was closed within a timely fashion. This isn’t the same great experience that I had the first time around. She apologized and said she will voice my concerns to the proper people. So we’ll see. I hope they let me know by the weekend. I’m SO beyond over it.

Right, that’s black and white in my opinion. If Disney themselves are saying they have until the closing date to make a decision then the brokers must now start being honest and stop with the ‘30 days’ nonsense!

 

[Katie L]

Right, that’s black and white in my opinion. If Disney themselves are saying they have until the closing date to make a decision then the brokers must now start being honest and stop with the ‘30 days’ nonsense!

And set the close for 30 days.

 

[lovin'fl]

Right, that’s black and white in my opinion. If Disney themselves are saying they have until the closing date to make a decision then the brokers must now start being honest and stop with the ‘30 days’ nonsense!

And buyers (and sellers) should now ask for a closing date in the contract that is timely and acceptable to them.

 

[mrsap]

Right, that’s black and white in my opinion. If Disney themselves are saying they have until the closing date to make a decision then the brokers must now start being honest and stop with the ‘30 days’ nonsense!

They also need to let the brokers know these changes. I believe if they knew this was the case, they’d adjust closing dates accordingly.