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What does ROFR look like for the seller?

Discussion in 'Disney Vacation Club - DVC' started by bendadin, Jul 10, 2019.

  1. bendadin

    bendadin TUG Member

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    ...other than the fact that our broker listed our contract too low.

    Do they still pull estoppel? From what I was told, they become the new closing company.
     
  2. MelissaI

    MelissaI TUG Member

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    I just sold one of my contracts and Disney took it in ROFR. Disney became the new closing company but everything else in the contract remained the same (fees, commission, etc). I will say they take their good old sweet time to complete. We received our closing documents about 11 days before the final closing date listed on the original contract. Then, when we received the documents from Disney, there was an error so we had to have new documents sent out. Overall, it has been painless. But I think we would have closed sooner with an independent buyer other than Disney.
     
  3. bendadin

    bendadin TUG Member

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    Did they charge you to pull their own estoppel?

    We can't close for two months anyway but I'm thinking that it won't be as fast as if they didn't take it. It wasn't exactly a timeshare experience that I wanted to have under my belt. lol
     
  4. MelissaI

    MelissaI TUG Member

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    I don’t see the estoppel listed explicitly on the breakdown for the transaction. But, I do see a $150 fee listed as First Reliable Transfers, processing fee. This is the same amount listed on the original contract for the estoppel fee. So yes, we are still being charged the estoppel fee.
     
  5. TheHolleys87

    TheHolleys87 TUG Member

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    @bendadin, don’t feel bad, Disney may have taken it for other reasons such as UY, residential unit the points came from, or factors we don’t even know exist. One of the resale brokers reports that they’ve taken over 20% of all the contracts that broker has handled in 2019, including as many as 30% from some resorts, and the ROFR thread on DISboards carries more than one instance of Disney passing on one contract and taking another at a higher price.
     
  6. bendadin

    bendadin TUG Member

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    Yeah, I remember being worried when I bought my contracts. And while I was on the safer side of it this time, it is still a blah feeling. I saw the ranges of the contracts that Disney was taking back, while we were in that range, it was only 100 points with only 19 left for 2019 and their ROFR contracts tended to be larger. And they didn't even wait out the 30 days, either.
     
  7. TheHolleys87

    TheHolleys87 TUG Member

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    Yes, this year has been different for ROFR for sure. In the past it seemed that they wouldn’t take stripped contracts, now they do. Speculation is that since they can now change the UY to suit them, they’re taking contracts that help them fill requests from direct buyers quickly instead of maintaining wait lists.
     
  8. bendadin

    bendadin TUG Member

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    I think that the going rate for AKV is $199 on direct, so I can see why they would take it. I still have one 50 point direct. We bought that one after the resales. I wanted one solid contract that I could put my kids on so that they can buy their own AP. lol It gives me the membership for the DVC gold and parties, so I am good. I might now have to do the bank and borrow every three years to get a good stay out of my points. But now my kids are spoiled by Wyndham. So they don't want to stay in a value studio for 9 points. That was my fault, though. lol
     
    TheHolleys87 likes this.

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