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

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Nice!

I don't mind the idea of being a guinea pig on this. I like that I'm doing something that could be of value to all of you fine people going forward. Whether it ends well or ends poorly, we'll all have learned something!

Keep fighting the good fight!!! :thumbsup2
 
"This contract shall be closed within 60 days of the effective date*, unless extended by other provisions on the contract." We do have provisions, some of which we asked for, but none that relate to closing date. It took me until yesterday to get the "effective date" and "closing date" from the broker as she made multiple mistakes early on in negotiations and financial transactions. She led me to believe it was the date the closing company received our check, which now I find out was not an accurate date after all. In the future we will be very specific when signing the contract regarding ROFR and closing - or as specific as we can get (we're not lawyers). Other contracts we have had were much easier to read and more detailed. I should have been more careful, but I was going on experience. My bad! Broker's company F******y. Buyer beware!
 
"This contract shall be closed within 60 days of the effective date*, unless extended by other provisions on the contract." We do have provisions, some of which we asked for, but none that relate to closing date. It took me until yesterday to get the "effective date" and "closing date" from the broker as she made multiple mistakes early on in negotiations and financial transactions. She led me to believe it was the date the closing company received our check, which now I find out was not an accurate date after all. In the future we will be very specific when signing the contract regarding ROFR and closing - or as specific as we can get (we're not lawyers). Other contracts we have had were much easier to read and more detailed. I should have been more careful, but I was going on experience. My bad! Broker's company F******y. Buyer beware!
What do the other provisions of the contract say? Who was the broker on the contract?

I wouldn't give up yet.

EDIT: I just realized you said the broker was Fidelity. I thought you were just cursing at the end of the post. Ha! I have a contract from Fidelity that got ROFR'd recently. I assume it's the same as yours. I'm going to read it again.
 
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Still waiting to hear back from Disney..... day 46. One day they say they waived their ROFR next day they say they are taking it next day they say they will look into it and get back to me ASAP..... and now the broker is upset I went to Disney. Oh well.
 


Thanks for the support! We're not giving up and have indicated we'll get a check out immediately if we can just get an answer. I can't imagine the seller wants to relive this nightmare again. We have 13 nights in a 1 bed at OKW and 8 nights in a studio at OKW for our son and his bride so we can hang out together over Halloween - with points to spare. Just greedy I WANT MORE LOL!
 
Still waiting to hear back from Disney..... day 46. One day they say they waived their ROFR next day they say they are taking it next day they say they will look into it and get back to me ASAP..... and now the broker is upset I went to Disney. Oh well.

I'm pretty sure the brokers are far more worried about their livelihoods at this point. Disney isn't just mucking with us...
 


I just read through my Fidelity contract that Disney took in ROFR.

I’m astonished. They really don’t include any provisions for extending the closing date... even though such provisions are referenced in the first line.

They really are terrible at everything they do.
 
Just had an offer accepted for a Polynesian contract. We have an AK contract, but unfortunately after staying at Poly we fell in love with it. We certainly do like AK and are keeping that contract for points we can rent out and for those times when we need a few extra points. And the fact that our AK resale was purchased in 2015 so some perks come along with it. I'll come back to post when things have been submitted!
Hi! :wave2: We are also AK owners who finally just jumped in with a Poly offer - accepted, just waiting to be submitted to Disney.

I finally heard back from my broker...closing date is TOMORROW though she admitted it is "impossible" for this to happen. I asked numerous times for a specific date! At this point she indicated buyer and/or seller can walk away. She is pushing it up the food chain at Disney, but still no answer - sigh. I thought we were at 51 days yesterday but it is actually 59 today as I was counting from the day we had confirmation from the closing company (as per the broker). Communication from this broker is the worst and the only reason we won't walk away is of course, the price. To be continued...
Woah! I can't believe how insane your wait has been! I hope you get resolution extremely soon - so frustrating!

@RamblinWreck - you go with your guinea pig self! I can't wait to see how this plays out. popcorn::
 
I just read through my Fidelity contract that Disney took in ROFR.

I’m astonished. They really don’t include any provisions for extending the closing date... even though such provisions are referenced in the first line.

They really are terrible at everything they do.
It's a "wake up" call for sure. Details matter! I haven't heard a word since Wednesday...?
 
It's a "wake up" call for sure. Details matter! I haven't heard a word since Wednesday...?
You should have your broker reach out to the seller and ask if they want to draft a new contract with the same terms.

Per Disney’s ROFR rules, now that they have taken all the way up to your closing date without rendering a decision, that counts as a waiver of their right of first refusal. The seller is now entitled to sell that contract to you, under the same terms as your last contract. Disney is no longer allowed to ROFR it. It’s yours.
 
I thought I was a person with patience. I was WRONG! Only 16 days for me but looking at the numbers, I feel like if I don't hear anything by tomorrow, I won't hear anything for 30+ days. I need something to distract me. lol
 
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.

Have you heard any more? Still waiting?
 
A. Day 32 or B. Day 24 .... depending if the 'clock' starts when DVC acknowledges receipt or when DVC says they forwarded contract to ROFR folks.

C. Day -29........ it's now not a clock but a countdown clock working backwards from closing date

Are we having fun yet? And my Poly last month came back in 14 days as Passed.
 
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