Conflicting information for ROFR

[Kaytay]

My file was submitted for ROFR on 10/11, after following up with the broker on 11/2 (I had seen multiple contracts passed that had been submitted after mine) I was told I must be lucky, it had just passed about 2 minutes prior to me calling. He sent me an e-mail and told me title would be in touch with me shortly. A week passed with nothing so I called Title. The girl verified my file and told me they were still waiting on ROFR. I explained it had passed and the broker had sent me an e-mail. I offered to forward that to her and she said she would have one of the closers contact the broker and get it figured out. I called again yesterday afternoon to check on it and the guy who answered the phone at the title company offered to look into it. A couple of hours later I rec’d a call from the brokers office from a woman who overheard the conversation between the person who had confirmed we had passed ROFR and the title company looking for information about the estoppel. Apparently the agent who had confirmed that all was good maybe messed something up and had gotten an estoppel for one of the sellers OTHER contracts, not the one I am purchasing. She told me it was being sent in as a rush but not to worry because Disney wasn’t acting on SSR contracts. So I’m suddenly back at the beginning of ROFR?!? I was told I would hopefully hear something back by the end of next week…. Has this happened to anyone else?!?

 

[AstroBlasters]

My file was submitted for ROFR on 10/11, after following up with the broker on 11/2 (I had seen multiple contracts passed that had been submitted after mine) I was told I must be lucky, it had just passed about 2 minutes prior to me calling. He sent me an e-mail and told me title would be in touch with me shortly. A week passed with nothing so I called Title. The girl verified my file and told me they were still waiting on ROFR. I explained it had passed and the broker had sent me an e-mail. I offered to forward that to her and she said she would have one of the closers contact the broker and get it figured out. I called again yesterday afternoon to check on it and the guy who answered the phone at the title company offered to look into it. A couple of hours later I rec’d a call from the brokers office from a woman who overheard the conversation between the person who had confirmed we had passed ROFR and the title company looking for information about the estoppel. Apparently the agent who had confirmed that all was good maybe messed something up and had gotten an estoppel for one of the sellers OTHER contracts, not the one I am purchasing. She told me it was being sent in as a rush but not to worry because Disney wasn’t acting on SSR contracts. So I’m suddenly back at the beginning of ROFR?!? I was told I would hopefully hear something back by the end of next week…. Has this happened to anyone else?!?

I bet I know which broker it was….

https://www.fidelityrealestate.com/

 

[Kaytay]

Bingo!!!!

 

[Kaytay]

Are they repeat offenders for this type of thing?

 

[AstroBlasters]

Are they repeat offenders for this type of thing?

Unfortunately, yes.

 

[Jwaire]

Who's the title company? They are responsible for most of the process.

 

[Kaytay]

Oh nooooo. I’m so irritated, I wish I could just say “forget it” and move on to something else.

 

[Kaytay]

Who's the title company? They are responsible for most of the process.

I’m trying to post the link but the page won’t let me… can I say it’s one word starting with a M and ending with an N? ….

 

[sndral]

This title company? https://www.masontitle.com/
I would verify exactly when the contract was sent to ROFR - which it sounds like happened on 11/9 when someone discovered the brokerage had not done so back in October. There is a two step process, first you pass ROFR, then DVC issues the estoppel, but I don’t know if the brokerage/title co. has to do anything to trigger estoppel after ROFR.
The agent’s remark about not having to worry about SSR being ROFR’ed & rushing the paperwork sounds like the broker/agent dropped the ball & did not take the necessary steps to submit your contract to ROFR back in Oct..
At a minimum I would insist that the $225 ‘administrative’ fee that only https://www.fidelityrealestate.com/ charges be waived, since they clearly screwed up.
I’d also check my closing date as set forth in the paperwork & be prepared to cancel if the contract failed to close on time. Even after ROFR you still have to wait for the seller to send their paperwork back. I almost canceled my one purchase through Fidelity because the sellers took so long to send their paperwork back we almost went past the closing date. There’s lots of SSR for sale & the market’s still drifting lower.
Assuming it passes ROFR, I’d sent my signed closing doc.s to the title co., but I’d wait till the title co. verified they had the seller‘s notarized doc.s back before I wired the $ to close the deal.

 

[CastAStone]

Are they repeat offenders for this type of thing?

Fidelity will do everything right…eventually. Might take a few tries. Most of the just weird mistakes posted here come from them. My purchase was greatly delayed because no one at Fidelity had asked the seller if they were foreign (they lived in the US, but weren’t Americans) and so everything had to be redone to include FIRPTA.

But now I own the contact, and it’s just a story to tell.

 

[Kaytay]

This title company? https://www.masontitle.com/
I would verify exactly when the contract was sent to ROFR - which it sounds like happened on 11/9 when someone discovered the brokerage had not done so back in October. There is a two step process, first you pass ROFR, then DVC issues the estoppel, but I don’t know if the brokerage/title co. has to do anything to trigger estoppel after ROFR.
The agent’s remark about not having to worry about SSR being ROFR’ed & rushing the paperwork sounds like the broker/agent dropped the ball & did not take the necessary steps to submit your contract to ROFR back in Oct..
At a minimum I would insist that the $225 ‘administrative’ fee that only https://www.fidelityrealestate.com/ charges be waived, since they clearly screwed up.
I’d also check my closing date as set forth in the paperwork & be prepared to cancel if the contract failed to close on time. Even after ROFR you still have to wait for the seller to send their paperwork back. I almost canceled my one purchase through Fidelity because the sellers took so long to send their paperwork back we almost went past the closing date. There’s lots of SSR for sale & the market’s still drifting lower.
Assuming it passes ROFR, I’d sent my signed closing doc.s to the title co., but I’d wait till the title co. verified they had the seller‘s notarized doc.s back before I wired the $ to close the deal.

Yes, that’s the one! I went back and checked the contract which was ratified on 10/10. I received an e-mail from the broker stating that the contract had been sent to DVC on 10/11 and subsequently received a second e-mail from title with a receipt of escrow. The contract stated that closing would take place within 65 days so technically we’re on day 33. It was yesterday that I was told there had been a mistake with the estoppel certificate and I questioned whether we had even cleared ROFR. I did not receive a second e-mail saying anything had been submitted, I’m guessing someone is scrambling to fix something right now…I was told that she had a talk with the guy who said we had passed ROFR and stressed the importance of making sure the numbers were correct when submitting paperwork for estoppel certs… I wonder if they sold the wrong DVC contract since the numbers supposedly didn’t match. Or if it’s all fictitious and they are just trying to cover their mistakes. I will definitely be writing a review when it’s all over. I feel like I’ve been met with nothing but laziness from everyone except the young lady who called me yesterday. As a Realtor it blows my mind that these individuals are basically spoon fed transactions and they can’t get it right.

 

[Kaytay]

Fidelity will do everything right…eventually. Might take a few tries. Most of the just weird mistakes posted here come from them. My purchase was greatly delayed because no one at Fidelity had asked the seller if they were foreign (they lived in the US, but weren’t Americans) and so everything had to be redone to include FIRPTA.

But now I own the contact, and it’s just a story to tell.

Going by the sellers last name, they definitely could be foreign. If that is the hold up, they could just be honest about it, I would understand. I’m hoping that everything gets cleared up quickly.

 

[AstroBlasters]

Going by the sellers last name, they definitely could be foreign. If that is the hold up, they could just be honest about it, I would understand. I’m hoping that everything gets cleared up quickly.

I know it’s frustrating, but if you own the contract for a long time then it will be a blip on an otherwise wonderful purchase.

 

[Red Dog Run]

Are they repeat offenders for this type of thing?

If you paid for the "fee" of doing business with them, ask for reimbursement.

 

[DonMacGregor]

There is a two step process, first you pass ROFR, then DVC issues the estoppel, but I don’t know if the brokerage/title co. has to do anything to trigger estoppel after ROFR.

For the past two or three years, Disney has been issuing the estoppel certificate concurrent with notification that they are waiving ROFR. DVC Resale Market likes to make a big deal out of DVC issuing the two "in one fell swoop", like it's something to be thankful for over your good fortune, but every ROFR waiver comes with the estoppel certificate. If a broker is telling you that you passed ROFR, but they are still waiting for estoppel, it's a stall tactic and they're just trying to buy time to cover up a screw up.

 

[Sandisw]

For the past two or three years, Disney has been issuing the estoppel certificate concurrent with notification that they are waiving ROFR. DVC Resale Market likes to make a big deal out of DVC issuing the two "in one fell swoop", like it's something to be thankful for over your good fortune, but every ROFR waiver comes with the estoppel certificate. If a broker is telling you that you passed ROFR, but they are still waiting for estoppel, it's a stall tactic and they're just trying to buy time to cover up a screw up.

It sounds like they received the certificate for the other owners contract, and they contacted the wrong person about it…

My guess is this contract has not yet indeed passed.

 

[ocdb8r1]

Same exact spiel from Fidelity on my last resale contract. Slightly different f-up; after a month they finally realized they'd put the wrong member number or contract number of the ROFR submission to Disney. Same exact "we'll probably hear back next week" which actually ended up being another 16 days. very frustrating, but fortunately no real implications (was still able to close before any impact on my intended points usage).

 

[DonMacGregor]

It sounds like they received the certificate for the other owners contract, and they contacted the wrong person about it…

My guess is this contract has not yet indeed passed.

I agree.