ROFR Thread Oct to Dec 2020 *PLEASE SEE FIRST POST FOR INSTRUCTIONS & FORMATTING TOOL*

[Sandisw]

And



I am so sorry to hear, and I am and will continue to support the CM Pantry for this cause. I am so angry about the 28k laid off while their stock has rebounded WAY more than anyone could have assumed.

I feel like Schultz will not stop at anything to disenfranchise resale buyers, including the estimated ~230 DVC layoffs. I only infer that Disney would prefer their wage costs to target/ prefer revenue (new contracts) not costs (processors of resale, etc). But I know many DVC sales reps out of work too.

I think the folks who feel most disenfranchised by DVC (white carders) will get more and more disenfranchised. But this is my Festivus’ airing of grievances (!).

I don’t doubt that DVC is moving in a direction to make direct a better choice over resale, even with the additional cost,

I just don’t believe that the furloughed those responsible for ROFR to make the process harder, Most divisions kept just a few and they were the managers and not the ones who normally do the job.

Now that sales are started again, maybe more will come back, even with layoffs.

 

[Lorana]

I just don’t believe that the furloughed those responsible for ROFR to make the process harder, Most divisions kept just a few and they were the managers and not the ones who normally do the job.

I don’t think they did it with the intent of making resale harder. But I don’t doubt that when the Sr Managers were told “layoff/furlough X%” they would have gone through a prioritization exercise that factored in the cost of employees plus the value of the roles. Servicing resale contracts was likely not high on that list and made an “easy” place to lose a few roles in order to keep other necessary roles.

 

[Sandisw]

I don’t think they did it with the intent of making resale harder. But I don’t doubt that when the Sr Managers were told “layoff/furlough X%” they would have gone through a prioritization exercise that factored in the cost of employees plus the value of the roles. Servicing resale contracts was likely not high on that list and made an “easy” place to lose a few roles in order to keep other necessary roles.

All I can say is that Is not how it went from the information I have. If a division wasn’t even open, pretty much everyone went other than top managers who took on the roles of others. Didn’t matter what the person did, even in cases where they may have been the only one responsible.

 

[Jaydee51]

I wouldn’t worry about hypotheticals like that. Disney is very aware of legal obligations and how their ROFR works. They literally wrote the contract provision which provides the ROFR and included the language that states you may close if you do not hear from them by closing as long as you gave them at least 30 days to make a decision. A lot of people like to assume Disney is acting in bad faith during the resale process, but really they are doing everything they are supposed to do.

But even if the alternate universe became reality and they did start operating in bad faith, it wouldn’t serve their interest and would work against them. You never want to be a party who has operated in bad faith under a contract and then try to have a provision of the contract enforced in your favor. I’m not a lawyer for Disney, but I will guarantee you their lawyers know that basic contract law maxim.

As to delays with estoppel, I’m inclined to believe the blame there also lies with the closing companies. I think some closing companies unnecessarily delay the process because of when they request estoppel. I think some closing companies are so busy that they are actually working against a swift closing process. If you are with one of those closing companies, you will likely get the spiel that estoppel will come 2-3 weeks after ROFR. If you are with a closing company that provides better service, you will probably receive your closing papers shortly after passing ROFR. I’m not saying certain closing companies are lying about how long estoppel takes (although they very well could be) but I am saying there is a huge difference in the efficiency of your contract processing depending on your closing company. That’s based on my experience with multiple closing companies. With one closing company, I always received my closing papers 2-3 weeks after passing ROFR. With another closing company, like clockwork, the closing papers always show up within 2 days of passing ROFR (to include a contract this summer at the height of the COVID delays). Obviously, that’s anecdotal, but over the years I have seen it play out that way for others on the boards as well.

there is also language in most contracts automatically extending the contract if estoppel is received within certain time period, usually 30 -45 days. so title companies are in no rush to close and do fear buyers backing out, bc buyers cannot just back out - contrary to initial impressions.
just my 2 cents.

 

[EM Lawrence]

My resale contract did not have language about extending the closing date, and knowing what I know now, I would not sign a contract that contained that language. It took me 62 days to pass ROFR and the contract had a 90 day closing on it. I told my broker I was not going to close if it could not be done on or before the closing date. We closed within a week of passing ROFR.

 

[Lorana]

Lorana---$104-$5945-50-SSR-Sep-0/19, 50/20, 50/21, 50/22-seller pays MF '20- sent 9/14, passed 10/21

Just got closing docs today, and looks like the final closing costs are a little less than originally quoted! Final is:

Lorana---$104-$5904-50-SSR-Sep-0/19, 50/20, 50/21, 50/22-seller pays MF '20- sent 9/14, passed 10/21

 

[Junior-Beto]

Junior-Beto---$108-$17933-160-AKV-Jun-0/19, 125/20, 160/21, 160/22- sent 10/13

 

[LilyJC]

Just got closing docs today, and looks like the final closing costs are a little less than originally quoted!

I always love when that happens! Even if it’s just $20 I still feel proud to save some money.

 

[Friendinme]

Just got closing docs today, and looks like the final closing costs are a little less than originally quoted! Final is:

Lorana---$104-$5904-50-SSR-Sep-0/19, 50/20, 50/21, 50/22-seller pays MF '20- sent 9/14, passed 10/21

Congrats!!!!

 

[Paul Stupin]

I totally agree, I don't think it is intentional. Those layoffs are difficult, for sure. It's just hard to see other people closing in the typical 1-2 weeks after ROFR and mine is taking unusually long and no one will tell me anything. I feel bad for the sellers as well.

I agree as well. I really don’t think all these conspiracy theories are valid. That said, with a reduced staff I don’t think they’re wildly motivated to speed things up either.

 

[macman123]

Lorana---$104-$5904-50-SSR-Sep-0/19, 50/20, 50/21, 50/22-seller pays MF '20- sent 9/14, passed 10/21

Thats a good deal!

 

[Lorana]

Thats a good deal!

Thanks!! I was pretty excited to get a 50-pointer for $104!

 

[BonesMello]

BonesMello---$94-$19475-200-SSR-March-0/20, 200/21, 200/22-seller pays MF '20- sent 10/23/2020

I've been a long time lurker on these boards, decided it was time to give back when we finally took the DVC plunge. We're pretty excited about this deal. Here's hoping it makes it through ROFR!!

 

[macman123]

BonesMello---$94-$19475-200-SSR-March-0/20, 200/21, 200/22-seller pays MF '20- sent 10/23/2020

I've been a long time lurker on these boards, decided it was time to give back when we finally took the DVC plunge. We're pretty excited about this deal. Here's hoping it makes it through ROFR!!

Sadly it does seem within the range of taken ones for SSR. I think anything $100pp or over would have been ok.

https://www.dvcresalemarket.com/blog/dvc-right-of-first-refusal-report-rofr-september-20-report/
But fingers crossed.

 

[Bing Showei]

Sadly it does seem within the range of taken ones for SSR. I think anything $100pp or over would have been ok.

https://www.dvcresalemarket.com/blog/dvc-right-of-first-refusal-report-rofr-september-20-report/
But fingers crossed.

Hmmm... I wonder why these oh-so helpful “reports” don’t include lowest prices passed.

Highlighting for potential buyers the highest price taken seems to tell a convenient narrative.

 

[Lorana]

Hmmm... I wonder why these oh-so helpful “reports” don’t include lowest prices passed.

Highlighting for potential buyers the highest price taken seems to tell a convenient narrative.

Right? As we’ve seen on this board, sometimes the same low price point is taken, sometimes it passes.

 

[Ruttangel]

Thanks!! I was pretty excited to get a 50-pointer for $104!

I know I mentioned this in another thread but I can’t see any contracts under 100 points taken this year.

Something to bear in mind that people can be super aggressive on these small point contracts.
must be the fees being a higher portion of the overall cost.

 

[pangyal]

Kenito---$127-$22940-175-BCV-Feb-0/19, 0/20, 199/21, 175/22 - sent 9/8, passed 10/22

Addonitis now cured.

We'll see

 

[pangyal]

Updated!

 

[Hjs33]

BonesMello---$94-$19475-200-SSR-March-0/20, 200/21, 200/22-seller pays MF '20- sent 10/23/2020

I've been a long time lurker on these boards, decided it was time to give back when we finally took the DVC plunge. We're pretty excited about this deal. Here's hoping it makes it through ROFR!!

Congrats! Great price!