Any chance SSR contract passes FROR?

[supersnoop]

I haven't heard yet! I'm checking with the company today to find out what they've heard. On a recent purchase they told us Disney was taking longer than 30 days but I thought I remembered 30 days being the limit!

Disney picked up the pace and has only been taking about 14 days to respond lately. Legally, you can set a closing date at least 30 days out when you submit to the ROFR process and you can legally close if you don't hear back in that timeframe, but nobody actually follows that. If you haven't set a closing date, Disney can exercise their right up until you close. They provide the waiver to remove any uncertainty.

 

[Dean]

I haven't heard yet! I'm checking with the company today to find out what they've heard. On a recent purchase they told us Disney was taking longer than 30 days but I thought I remembered 30 days being the limit!

You have to give them 30 days but there is no limit beyond that. They are not otherwise limited to 30 days if you don't set closing accordingly. You'd need a few days to get it to them. It's long been my view that one should give them exactly 30 days from when they received it and set the closing date accordingly.

 

[kapicka]

Thanks for the info. I will call title company right away!

 

[lovin'fl]

I haven't heard yet! I'm checking with the company today to find out what they've heard. On a recent purchase they told us Disney was taking longer than 30 days but I thought I remembered 30 days being the limit!

ROFR is supposed to be within 30 days, yes. Call the broker. Title company isn't involved until you pass ROFR and are ready to go to closing.

 

[bwvBound]

I haven't heard yet! I'm checking with the company today to find out what they've heard. On a recent purchase they told us Disney was taking longer than 30 days but I thought I remembered 30 days being the limit!

Whoa! You've got far more patience than I have.
GOOD LUCK and BEST WISHES with your contract!

 

[kapicka]

Thank you ALL for your interest and info about this. I will know for sure this week how it all turned out : )

I'll let you know first. (After my wife of course.)

 

[djohn06]

Any update on this? Seems like you should definitely know by now.

 

[djohn06]

I find it odd that SSR prices are not decreasing as there seems to be many more listings for that in comparison to the other properties. There are 81 SSR from October alone on the search engine, granted that isn't exactly a complete list.

I wondered the same. I chalked it up to just standard listing procedures I guess. We don't always hear what they actually sell for. I know everyone isn't getting list pricing on SSR.