ROFR Thread Jan to March 2023 *PLEASE SEE FIRST POST FOR INSTRUCTIONS & FORMATTING TOOL*

[sigmachi272]

sigmachi272---$110-$17265-150-BWV-Feb-150/22, 300/23, 150/24, 150/25- sent 1/3; passed 1/26/2023

 

[The_MT]

Passed!
For some reason, I’m even more excited for this than I was for my original AKV contract.. I just love Disneyland so much!!!

ajiuo---$247-$25406-100-VGC-Feb-0/23, 100/24, 100/25- sent 1/11, passed 1/26

Welcome home, neighbor! Owning at VGC is awesome!!

 

[ajiuo]

Is it true that First American Title is a lot slower at getting closing documents out than the title companies in Florida? Seems like I read that somewhere…This is my first DVC contract in calie.

 

[DisneyMom41]

Is it true that First American Title is a lot slower at getting closing documents out than the title companies in Florida? Seems like I read that somewhere…This is my first DVC contract in calie.

I passed rofr 2 days ago and they just sent me docs to esign a few hours ago. The docs were a lot of title/escrow information, and how to wire money. I have no idea if those are my actual closing docs? I don't think so though. I am guessing I will get physical papers in the mail to sign with a notary? But I really have no clue. Kinda scary wiring all this money and just trusting everything goes the way it's supposed to!

 

[Cheesehead13]

So I just got something in email from First American. It is documents to esign and instructions to wire transfer. It would be awesome if this happens in days or even a couple weeks!

Edit: It says estimated settlement date 3/4/23. Ooof. I hope it's faster than that if I wire the money tonight.

Wow that is a long time. Hopefully it’s just a placeholder and things move more quickly for you

 

[Noles235]

Wow that is a long time. Hopefully it’s just a placeholder and things move more quickly for you

It is just a placeholder/kind of a worst case later date that needs to be on the settlement statement. Once docs are in and funded, they will close the transaction. Some people need a due by date to accomplish tasks like sending in docs.
I have one with another title company that has March listed as well.

 

[DonMacGregor]

Odd. I did not get any kind of timeline, but Fidelity did say to watch my email to hear from First American.

When our contract first got submitted to ROFR, I got an email from someone at First American right away (Rebecca) who just reached out to provide her contact info, etc. So I wrote her, because of course I have no patience at all with this particular thing. Some of the contracts in the Closing Time thread seem to have closed within a few days…

First American, for being the nation's largest title company, is notoriously slow. Mason will usually get you papers within 24 to 48 hours of a contract clearing ROFR.

 

[luvdisneyland]

g_skywalker---$130-$22666-160-BLT-Feb-37/22, 320/23, 160/24- sent 1/26

Shame the 37 points will just expire. I had the agent from yesterdays SSR possible sale coming back to me today saying the other buyer backed out and ask did I want the SSR? Its tough, SSR at $92 loaded, or BLT loaded for $130? Figured we signed this, will stick with this one. More likely to be able to get another SSR that cheap then get a BLT this cheap.

Wow, a loaded BLT for $130 pp, that's a great deal ( not sure what the seller was thinking, LOL). I hope it passes ROFR , keep us posted!

 

[DonMacGregor]

Na, I don't like that Disney has the right for ROFR. It seems to be an unfair system where Disney always wins, the seller likely benefits, and the buyers (on average) lose.

Not sure how it can be seen as "unfair" when it's very clearly laid out in the contract documents. I mean, if a buyer doesn't like the terms, or feels they're skewed too far in Disney's favor, then they simply don't buy the product. It's not like Disney is selling penicillin.

 

[DonMacGregor]

Is it true that First American Title is a lot slower at getting closing documents out than the title companies in Florida? Seems like I read that somewhere…This is my first DVC contract in calie.

That seems to be the (general) consensus.

 

[luvdisneyland]

Na, I don't like that Disney has the right for ROFR. It seems to be an unfair system where Disney always wins, the seller likely benefits, and the buyers (on average) lose.

Yes, but ROFR helps keep the value of your membership. Buyers say they want prices to drop or "tank" but that is very short sighted, you are buying DVC because it holds its value, unlike all the other timeshares out there. I am all for getting a great deal, but I am scratching my head at some of the people salivating at the thought of a crash- that's not good for anyone.

 

[ajiuo]

I passed rofr 2 days ago and they just sent me docs to esign a few hours ago. The docs were a lot of title/escrow information, and how to wire money. I have no idea if those are my actual closing docs? I don't think so though. I am guessing I will get physical papers in the mail to sign with a notary? But I really have no clue. Kinda scary wiring all this money and just trusting everything goes the way it's supposed to!

I got an email from my broker saying that the title company would send me closing documents in 14-30 days…. But they also said we would get an answer on ROFR in 30-40 and it ended up being 15… so hopefully this is an over estimate as well. I don’t know why I’m so anxious. The booking window for when I want to book my first grand cal trip doesn’t open until late May… but I just want to get it done.

 

[luvdisneyland]

But within a short period of time the price can be verified by checking public records

I would just tell the broker the trend is down so I can wait to verify the sale prices. However I am willing to buy one of your contracts now if we can reach an agreement

Agreed, but I am sure the Brokers are very aware of the market trends and don't need someone pointing out the obvious. If my broker came to me with an offer $30 off asking price, I would absolutley decline. I get everyone wants a deal ( I am one of them!), but going in at a ridiclous low price may get you a ridiclous response. Of course I am not referring to crazy, overpriced listings- but I wouldn't offer on those anyway, those sellers seem to be stuck in Fantasyland.

 

[gskywalker]

Wow, a loaded BLT for $130 pp, that's a great deal ( not sure what the seller was thinking, LOL). I hope it passes ROFR , keep us posted!

Pretty sure the seller was probably thinking "this is the first offer I have gotten and I have had it for sale for a month or two, so I am going to take it". At least that was the thinking I was counting on with my lowball offers. I also had a SSR contract for $92 fully loaded yesterday. I wish I needed/could afford both right now.

Yes, but ROFR helps keep the value of your membership. Buyers say they want prices to drop or "tank" but that is very short sighted, you are buying DVC because it holds its value, unlike all the other timeshares out there. I am all for getting a great deal, but I am scratching my head at some of the people salivating at the thought of a crash- that's not good for anyone.

I would imagine people wanting a crash are buyers or plan on keeping their contracts for a long time so it doesn't affect them. I wouldn't have been buying now without the big drop in prices. I am buying this contract so that down the road when we don't need so many points we can sell our off use year BLT contract and the price should be much higher.

 

[luvdisneyland]

I saw a 160 point AUL go on the market yesterday at $125pp and figured it had to be subsidized at that price… Nope, unsubsidized. Hmm… 25% over the going rate is one way to go about it….

Perhaps one spouse made a commitment to put it on the market, but really doesn’t want to sell it….

That is ridiclous, unless it had tons of points loaded or subsidized, but even then way too high. I don't understand the point of a broker taking overpriced listings, I would imagine it is a lot of work with no return.

 

[luvdisneyland]

Pretty sure the seller was probably thinking "this is the first offer I have gotten and I have had it for sale for a month or two, so I am going to take it". At least that was the thinking I was counting on with my lowball offers. I also had a SSR contract for $92 fully loaded yesterday. I wish I needed/could afford both right now.

I would imagine people wanting a crash are buyers or plan on keeping their contracts for a long time so it doesn't affect them. I wouldn't have been buying now without the big drop in prices. I am buying this contract so that down the road when we don't need so many points we can sell our off use year BLT contract and the price should be much higher.

Yeah, I get wanting an amazing deal, but hoping for a crash is a different story.

 

[KimMcGowan]

I passed rofr 2 days ago and they just sent me docs to esign a few hours ago. The docs were a lot of title/escrow information, and how to wire money. I have no idea if those are my actual closing docs? I don't think so though. I am guessing I will get physical papers in the mail to sign with a notary? But I really have no clue. Kinda scary wiring all this money and just trusting everything goes the way it's supposed to!

We, working teachers also, felt the exact same way when we just closed on our CC contract. That is a large (at least for us) chunk of money to be sending. Plus, our title company has all these scary warnings to be absolutely sure you are wiring it to the correct place. In the end it all worked out - but I was plenty nervous for a while. .

P.S. Our broker warned against paying on a Friday because sometimes you don’t find out till Monday that your money was received. I would have been a basket case in that situation.

 

[luvdisneyland]

Welcome home, neighbor! Owning at VGC is awesome!!

I agree!

 

[NVDISFamily]

Passed!
For some reason, I’m even more excited for this than I was for my original AKV contract.. I just love Disneyland so much!!!

ajiuo---$247-$25406-100-VGC-Feb-0/23, 100/24, 100/25- sent 1/11, passed 1/26

Congratulations. VGC is awesome!

 

[DisneyMom41]

We, working teachers also, felt the exact same way when we just closed on our CC contract. That is a large (at least for us) chunk of money to be sending. Plus, our title company has all these scary warnings to be absolutely sure you are wiring it to the correct place. In the end it all worked out - but I was plenty nervous for a while. .

P.S. Our broker warned against paying on a Friday because sometimes you don’t find out till Monday that your money was received. I would have been a basket case in that situation.

Oh goodness! We just sent it a couple hours ago. I hope we get notified tomorrow that it was received! It took us a good 20 minutes of rechecking EVERYTHING 10 times before clicking submit. We were so scared to push the button lol