New owner with multiple contracts under agreement

[jksung5295]

Ooops, while waiting for the ROFR to clear on the first contract, i decided to go under contract for another contract. Don't ask how, just happened

So the question is how do you answer the question "Are you a new DVC owner?" question on the 2nd agreement? or the process be any different?

 

[Steelers0854]

Not a lawyer, but to me you’re technically not an owner until you have a Deed in your name. So my answer would be yes, i am a new DVC owner. There is no guarantee you will clear ROFR. Whether right or not idk.

 

[atthebeachclub]

I did this; it’s fine. I wouldn’t tell the seller that you are an owner or your use year when bidding because they may try to use that info to get you to bid higher. Just tell the title agency you are under contract and give them the relevant info when it becomes available to you.

 

[jksung5295]

I did this; it’s fine. I wouldn’t tell the seller that you are an owner or your use year when bidding because they may try to use that info to get you to bid higher. Just tell the title agency you are under contract and give them the relevant info when it becomes available to you.

I did not mention this until all terms were agreed upon so no issues from my side.

Is the title prepared differently as a existing owner? Curious why this would be important to have up front.

 

[CarolynFH]

I did not mention this until all terms were agreed upon so no issues from my side.

Is the title prepared differently as a existing owner? Curious why this would be important to have up front.

I think it may be to make sure the contracts are placed in the same membership, assuming they’re same UY and same owners.

 

[jksung5295]

Got it, i guess i will figure it out as it happens. Assuming both pass ROFR. thanks everyone for answering my questions!