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

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mattywisco said:
These long waits are so discouraging right now - almost wish we would have just bought a 100 pt direct at OKW back in September like we almost did. If they were still selling gold passes to DVC members we would have, but we are waiting to go direct until that comes back.
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Don't regret it. We bought resale to save money and are then bogged down with the wait....it's what we signed up for. Candidly the resale market is nice too because people are trying to get rid of contracts for various reasons, so we're also helping someone out who is trying to get rid of a contract.

I just do feel bad b/c these delays just hold up sellers from getting the cash, brokers from making their cash, and honestly Disney from making some money off of me b/c I'm not buying the park tickets till this contract can close and i can book my stay. LOL
 
jbreen2010 said:
Don't regret it. We bought resale to save money and are then bogged down with the wait....it's what we signed up for. Candidly the resale market is nice too because people are trying to get rid of contracts for various reasons, so we're also helping someone out who is trying to get rid of a contract.

I just do feel bad b/c these delays just hold up sellers from getting the cash, brokers from making their cash, and honestly Disney from making some money off of me b/c I'm not buying the park tickets till this contract can close and i can book my stay. LOL
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Exactly, we have APs, but we sure as hell would be buying food and other stuff there quicker :)
 


Cabius---$145-$29915-200-PVB-Sep-0/19, 325/20, 200/21, 200/22-seller pays MF ‘20- sent 10/22

First-time resale buyer here (bought 100 pts direct before the increase a few weeks ago.) I’m excited to sit around and wait... and wait... and wait...
 
Cabius said:
Cabius---$145-$29915-200-PVB-Sep-0/19, 325/20, 200/21, 200/22-seller pays MF ‘20- sent 10/22

First-time resale buyer here (bought 100 pts direct before the increase a few weeks ago.) I’m excited to sit around and wait... and wait... and wait...
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Nice - did you buy your 100 direct at PVB? Same use year? And yes - wait is right, sigh :-)
 


Positive story (in comparison), we passed ROFR on 9/30 in 31 days (CCV) estoppel did take a while but got our closing Docs Monday, sent yesterday and actually closed today. Seller was just as quick. So hopefully the points appear within 3 weeks. Will be calling member services in two to nudge maybe.

On the flip side, today is day 43 on ROFR on a GCV contract for us too.
 
John Purcell said:
I agree but the folks who waive are let-go first for a reason, only because it serves “The Purpose” (profit). It seemed awfully soon / convenient too. I mean DVC resale gets fees for this, their resale volume in 2020 is unsurpassed, so why cut to 2 people? It just SOUNDS convenient, and I am a skeptic, so may I am overthinking this? Also I just put an offer in on SSR, so maybe I am not too skeptical.
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And
Sandisw said:
Actually, that is not how it happened in many divisions of the company. As I have shared, my child is on furlough from one of them.
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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 (!).
 
Gerbilsting said:
I did not know this! This is interesting! Question: Do you know if Disney has refused to send the Estoppel or load membership in the cases where they moved forward with after the official close date on the contract with no ROFR response? Wouldn't that complicate the situation with Disney accepting they passed ROFR, but then refusing to do anything else?
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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.
 
hlhlaw07 said:
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.
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In my case, I am using the same closing company I used for the two other resales I purchased this summer. Both of those went very quickly and smoothly, and I had great confidence in the closing company. This time (passed ROFR 9/14) they are telling me they are waiting on estoppel and it is out of their hands. If they contact tried to contact Disney, they say Disney would just say they are working as quickly as they can. The broker (also used for one of the contracts this summer, and a very reputable company) tells me they have contacted Disney and are being ignored. No idea what is going on, but as long as I eventually get my escrow money back if it doesn't go through, I'll just wait it out. So strange!!
 
ohmyminnie said:
In my case, I am using the same closing company I used for the two other resales I purchased this summer. Both of those went very quickly and smoothly, and I had great confidence in the closing company. This time (passed ROFR 9/14) they are telling me they are waiting on estoppel and it is out of their hands. If they contact tried to contact Disney, they say Disney would just say they are working as quickly as they can. The broker (also used for one of the contracts this summer, and a very reputable company) tells me they have contacted Disney and are being ignored. No idea what is going on, but as long as I eventually get my escrow money back if it doesn't go through, I'll just wait it out. So strange!!
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Like I said, it was anecdotal evidence, so pretty open to contradicting. 😀 I think where we are at now is pretty unprecedented with how many people they have let go. Administrative delays don’t seem too unreasonable in light of the circumstances (but that also doesn’t mean Disney gets more time than you allow them). It’s just hard for me to believe that Disney is intentionally trying to screw everyone with the delays. I’m a big fan of Occam’s razor so to me the most plausible explanation is they are having a hard time keeping up right now. Maybe I’m just a naive Disney loving person. But I also have to wonder why so many people would continue to give money to a company they see as evil genius just trying to screw its customers over.
 
hlhlaw07 said:
Like I said, it was anecdotal evidence, so pretty open to contradicting. 😀 I think where we are at now is pretty unprecedented with how many people they have let go. Administrative delays don’t seem too unreasonable in light of the circumstances (but that also doesn’t mean Disney gets more time than you allow them). It’s just hard for me to believe that Disney is intentionally trying to screw everyone with the delays. I’m a big fan of Occam’s razor so to me the most plausible explanation is they are having a hard time keeping up right now. Maybe I’m just a naive Disney loving person. But I also have to wonder why so many people would continue to give money to a company they see as evil genius just trying to screw its customers over.
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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.
 
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