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

[HockeyMomNH]

So, our contract states that it will be closed on or before 9/7. I expect that we will hear from Disney this week, but what happens if we don't? Anyone have any experience?

 

[sgserenity]

So, our contract states that it will be closed on or before 9/7. I expect that we will hear from Disney this week, but what happens if we don't? Anyone have any experience?

The same thing is happening to us. We were supposed to close Aug 28 or before but we got our ROFR approved on Aug 25, Contacted my agent who stated the following: “The closing agent will automatically extend the closing date since neither buyer nor seller are at fault.”

 

[coolingjupiter]

The same thing is happening to us. We were supposed to close Aug 28 or before but we got our ROFR approved on Aug 25, Contacted my agent who stated the following: “The closing agent will automatically extend the closing date since neither buyer nor seller are at fault.”

I can tell you that our contract has a line about how the closing date can be extended. I don’t have access to it at the moment to get the exact wording, but I know it says something about if it doesn’t close by the stated date, it will be extended.

 

[macman123]

The agents will extend the deadline. They wait for ROFR and then roughly another 3 weeks for the estoppel from Disney.

They wont close without ROFR or the estoppel.

 

[sgserenity]

hi hoping to understand the resale process a little better. If i received my closing documents does that mean that estoppel is complete. how long does estoppel take? i passed ROFR on Aug 25 and my closing documents to sign and return on the aug 27.

 

[macman123]

hi hoping to understand the resale process a little better. If i received my closing documents does that mean that estoppel is complete. how long does estoppel take? i passed ROFR on Aug 25 and my closing documents to sign and return on the aug 27.

ROFR is taking around 40-45 days or so.
Once that is waived then the Title Co need the estoppel, that took around 3 weeks for me.
Generally, if you sign the closing documents that mean the Title Co have the estoppel.
The Title then gets Deed recorded which only takes a day or so, then gets sent to Disney.
To have the contract added to the account took a further 5 weeks or so.
Then after the contract is loaded it takes another 2 weeks or so to get the points.

 

[poofyo101]

The agents will extend the deadline. They wait for ROFR and then roughly another 3 weeks for the estoppel from Disney.

They wont close without ROFR or the estoppel.

IT has not been taking 3 week for estoppel. just a few days.

 

[HHISand]

If you (or your agent) received estopppel just a few days after ROFR, I believe you were lucky. Disney waived ROFR on 8/12 for me and still waiting. I inquired a few days ago and the title company still has not received it.

 

[poofyo101]

If you (or your agent) received estopppel just a few days after ROFR, I believe you were lucky. Disney waived ROFR on 8/12 for me and still waiting. I inquired a few days ago and the title company still has not received it.

Who is your title company?

 

[HHISand]

TRCS. Is it possible your title company didn't tell you Disney had waived ROFR until they had the estoppel?

 

[poofyo101]

TRCS. Is it possible your title company didn't tell you Disney had waived ROFR until they had the estoppel?

No. I have closed 5 to 6 since covid began and all received in less than a week.

 

[HHISand]

Who was your title company for future reference? Fortunately, we are not in a big hurry. Would like to book in mid-October 2021 but would also be fine with November (other than Thanksgiving) so I think that we are fine. Worse case scenario, we will book in February 2022. However, since we book 1 bedrooms, I think we are fine.

 

[poofyo101]

Who was your title company for future reference? Fortunately, we are not in a big hurry. Would like to book in mid-October 2021 but would also be fine with November (other than Thanksgiving) so I think that we are fine. Worse case scenario, we will book in February 2022. However, since we book 1 bedrooms, I think we are fine.

Mason Title
Jeffrey C Sweet
Both are equally fast.

 

[3 DD love princesses]

hi hoping to understand the resale process a little better. If i received my closing documents does that mean that estoppel is complete. how long does estoppel take? i passed ROFR on Aug 25 and my closing documents to sign and return on the aug 27.

They won’t send closing docs without the estoppel. Estoppels come from Disney but it’s been taking less than a day to get them.

 

[Hjs33]

Red Dog Run---$138-$14,728-100-PVB-0/20, 100/21, 100/22-Sending 8/30


LAST ONE! I put in for 4 this month, and I am NOT YET A MEMBER! All in ROFR, still.

Good luck! Disney has never ROFR Poly so it should just be a matter of time on this one.

 

[lea2124]

ROFR is taking around 40-45 days or so.
Once that is waived then the Title Co need the estoppel, that took around 3 weeks for me.
Generally, if you sign the closing documents that mean the Title Co have the estoppel.
The Title then gets Deed recorded which only takes a day or so, then gets sent to Disney.
To have the contract added to the account took a further 5 weeks or so.
Then after the contract is loaded it takes another 2 weeks or so to get the points.

And at what point do you pay the rest of the money? Thanks.

 

[macman123]

And at what point do you pay the rest of the money? Thanks.

After estoppel and before you close. They can only close once paid.

 

[macman123]

IT has not been taking 3 week for estoppel. just a few days.

In my experience with 2 different brokers and 2 different Title Co's it was 3 weeks.

 

[macman123]

Mason Title
Jeffrey C Sweet
Both are equally fast.

I had one with Mason

ROFR passed June 30th
Closing docs received July 16th.
I cant see it taken 17 days or so just to send closing docs.

 

[Madmavis]

I had one with Mason

ROFR passed June 30th
Closing docs received July 16th.
I cant see it taken 17 days or so just to send closing docs.

I agree. It 3 weeks for me to get closing docs once I passed ROFR