DVC RESALES
DVC RESALES

Go Back   The DIS Discussion Forums - DISboards.com > Disney Vacation Club > Purchasing DVC
facebooktwitterpinterestgoogle plusyoutubeDIS UpdatesDIS email updates
Register Chat FAQ Tickers Search Today's Posts Mark Forums Read





Reply
 
Thread Tools Rate Thread Display Modes
Old 06-17-2013, 01:02 PM   #1
EllieBride
Mouseketeer
 
EllieBride's Avatar
 
Join Date: May 2010
Location: Michigan
Posts: 91

ROFR Question

This is probably a silly question, but does Disney have 30 business days or 30 calendar days to waive their ROFR? My offer for a BCV contract was sent over on May 23 and I'm beginning to get a little excited! I hope to hear soon.
EllieBride is offline   Reply With Quote
Old 06-17-2013, 01:11 PM   #2
ImagineerTHAT
Imaginerd
 
ImagineerTHAT's Avatar
 
Join Date: Jun 2013
Location: Champaign, IL
Posts: 189

Quote:
Originally Posted by EllieBride View Post
This is probably a silly question, but does Disney have 30 business days or 30 calendar days to waive their ROFR? My offer for a BCV contract was sent over on May 23 and I'm beginning to get a little excited! I hope to hear soon.
30 Calendar days. You should hear back by the end of the week probably by Wed or Thurs.

GOOD LUCK!!!
ImagineerTHAT is offline   Reply With Quote
|
The DIS
Register to remove

Join Date: 1997
Location: Orlando, FL
Posts: 1,000,000
Old 06-17-2013, 01:21 PM   #3
EllieBride
Mouseketeer
 
EllieBride's Avatar
 
Join Date: May 2010
Location: Michigan
Posts: 91

Thanks! I'm really hoping it goes through.
EllieBride is offline   Reply With Quote
Old 06-17-2013, 01:38 PM   #4
wdrl
DIS Veteran
 
wdrl's Avatar
 
Join Date: May 2009
Location: BLT, AKV, Aulani
Posts: 2,590

The Master Declarations for DVC resorts state "the Owner. . . must notify DVD in writing no less than thirty (30) days in advance of the proposed closing date of their intent to sell. . . . On receipt of such written notice, DVD may determine prior to the proposed closing date whether to exercise its right of first refusal set forth in this Article 13."

There is no requirement that DVD must decide whether to exercise ROFR in 30 days or less. The only requirement is that the closing cannot be done until DVD has had no less than 30 days to decide if it wants to exercise ROFR.

Technically, if a buyer and seller agree to a delayed closing, such as when the seller wants to take one last vacation, and the closing won't occur for another three months, DVD could have three months to decide whether to ROFR.

In reality, DVD has used a 30-day timeframe to act on ROFR.
__________________
wdrl is offline   Reply With Quote
Old 06-17-2013, 01:41 PM   #5
drusba

DIS Veteran
 
drusba's Avatar
 
Join Date: Aug 1999
Location: Chicago
Posts: 10,304

The ROFR provision provides that the seller needs to provide DVD with a copy of the contract for sale no less than 30 days before closing. DVD has up until just before closing to exercise the right even if the contract is provided more than 30 days before closing. As a matter of historical practice, DVD usually responds in less than 30 days of receipt of the contract.
__________________
Everything has to have a beginning and an end ... but it is not necessary to have a purpose in between.
drusba is offline   Reply With Quote
Old 06-17-2013, 02:55 PM   #6
ImagineerTHAT
Imaginerd
 
ImagineerTHAT's Avatar
 
Join Date: Jun 2013
Location: Champaign, IL
Posts: 189

Quote:
Originally Posted by wdrl View Post
There is no requirement that DVD must decide whether to exercise ROFR in 30 days or less. The only requirement is that the closing cannot be done until DVD has had no less than 30 days to decide if it wants to exercise ROFR.
Interesting info from wdrl. I would still expect to hear by the end of the week, as most ROFR decisions happen right around this time for your date range. If you don't hear by Friday, contact your broker.

I hope you pass!
ImagineerTHAT is offline   Reply With Quote
Old 06-17-2013, 06:11 PM   #7
EllieBride
Mouseketeer
 
EllieBride's Avatar
 
Join Date: May 2010
Location: Michigan
Posts: 91

I passed! Woo hoo!!! So excited!

The documents have already been shipped and I should get them tomorrow.
EllieBride is offline   Reply With Quote
Old 06-17-2013, 06:20 PM   #8
Turbanator
Disney Fan
 
Turbanator's Avatar
 
Join Date: Apr 2008
Location: UK
Posts: 783

Quote:
Originally Posted by EllieBride View Post
I passed! Woo hoo!!! So excited!

The documents have already been shipped and I should get them tomorrow.
Congrats
__________________
LOL
~The Turbanator - No.1 Disney & Disboards Fan~
Turbanator is offline   Reply With Quote
Old 06-17-2013, 06:28 PM   #9
ImagineerTHAT
Imaginerd
 
ImagineerTHAT's Avatar
 
Join Date: Jun 2013
Location: Champaign, IL
Posts: 189

Quote:
Originally Posted by EllieBride View Post
I passed! Woo hoo!!! So excited!

The documents have already been shipped and I should get them tomorrow.
AWESOME!!! I'm happy for ya!
ImagineerTHAT is offline   Reply With Quote
Reply



Thread Tools
Display Modes Rate This Thread
Rate This Thread:

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

Forum Jump

DVC-Resales.com | 1-800-550-6493 (Contact The Timeshare Store) | DVC Resale Listings

facebooktwittergoogle plus youtube itunesDIS Updates
GET OUR DIS UPDATES DELIVERED BY EMAIL



All times are GMT -5. The time now is 09:12 AM.

Powered by vBulletin® Version 3.8.4
Copyright ©2000 - 2014, Jelsoft Enterprises Ltd.

Copyright © 1997-2014, Werner Technologies, LLC. All Rights Reserved.