ROFR Thread April to June 2025 *PLEASE SEE FIRST POST FOR INSTRUCTIONS & FORMATTING TOOL*

[Blerghityblergh]

They could hold the funds in the bank until it was needed to pay the loan. Basically the extra funds to pay off the loan should have been secured prior to listing. People don't pull this in real estate because there are consequences, I can guarantee if there were financial consequences to them they would not have listed until they were ready and able to sell.

I still don’t think we know the details.

 

[VGCgroupie]

I still don’t think we know the details.

Right I am just responding to the hypotheticals

 

[AstroBlasters]

Right I am just responding to the hypotheticals

My experience with a friend who was underwater on their RIV loan was that they had to show DVCRM the loan was paid down to a level where the net sale would cover the remaining balance before they would list.

They decided to just rent out the points to cover the dues and part of the loan payments because of how big of a hit it would be out of pocket. Buying at $200pp and then selling for $120pp with commission of near 10% is a loss of $13,800 on a 150 point contract.

Outside of some very outlier use case, selling anything direct within a short period of time is going to be a terrible financial outcome…..

 

[darkconz]

The seller also may have though they could come up with the money to pay down the loan and can no longer do so after the last couple of weeks.

The last couple of weeks would have played a huge role.

 

[vetter2k]

vetter2k---$260-$14365-50-VGC-Jun-0/23, 0/24, 100/25, 50/26- sent 4/14

 

[VGCgroupie]

vetter2k---$260-$14365-50-VGC-Jun-0/23, 0/24, 100/25, 50/26- sent 4/14

Congrats!! Waiting with anticipation to see if it passes. I think it will

 

[AstroBlasters]

The last couple of weeks would have played a huge role.

I understand where you are coming from, but it also may because of a divorce or death. There really is no way of knowing.

 

[VGCgroupie]

I understand where you are coming from, but it also may because of a divorce or death. There really is no way of knowing.

I think if this were the case it would have been relayed to the broker/buyer because that is an understandable reason for cancelling not just being irresponsible and listing something that you cant sell because the proceeds wont pay off the loan.

 

[AstroBlasters]

I think if this were the case it would have been relayed to the broker/buyer because that is an understandable reason for cancelling not just being irresponsible and listing something that you cant sell because the proceeds wont pay off the loan.

Perhaps because documents had been signed that contained the personal information of the sellers the broker was prohibited from revealing too much personal information.

The point was that it’s impossible to know if the events of the last couple of weeks had anything to do with it or not.

 

[darkconz]

vetter2k---$260-$14365-50-VGC-Jun-0/23, 0/24, 100/25, 50/26- sent 4/14

Great price for such a small contract! Good luck!

 

[Brian Noble]

The point was that it’s impossible to know if the events of the last couple of weeks had anything to do with it or not.

Exactly. I worry about my side of the street. The other side of the street is none of my business.

 

[Jimmy Geppetto]

Well, for starters, this listing was a "red hot deal", so the price was preset, I wasn't able to negotiate anything. So at listing they knew exactly how much money they were going to receive from the sale. People can be dishonest, I get it, but it's still disappointing that this occurred.

I'm going to give Andy the benefit of the doubt and assume that they cut ties with the seller for not being honest in their disclosure. B/c otherwise I feel like he should have given me the option to increase our offer if they were planning to relist. I'm sure we're talking more than a few dollars a point here, so I doubt we would have considered it.

Doubt it. Highly unlikely they turn away the commission. It will get re-listed.

 

[jolynne28]

Doubt it. Highly unlikely they turn away the commission. It will get re-listed.

I followed up with him and he gave me the info in my follow-up comment about where they’d need to list to pay off their loan. He said they weren’t listing and they’d have to go through foreclosure.

At this point there’s any number of reasons why this happened, we’ll never know and will just have to keep at it until I find a contract we like and it goes through.

 

[Catou]

Yes my overall cost of contract spreadsheet and other analysis done by smarter people than me here show that if boughten at the right price SSR is a great value compared to other resorts.

Exactly. We bought SSR at $83/pt last year and they are so worth it. I used them to get 3 nights at GFV in a studio. That’s great bang for your buck.
We bought them as SAP. We had never stayed at Saratoga. But something happened, we fell in love with the resort. We spent 8 nights in a 2 BR this summer and had a blast. We will use them to stay at other resorts but if we are a stuck staying there we will be very happy.

 

[Girlstar30]

Exactly. We bought SSR at $83/pt last year and they are so worth it. I used them to get 3 nights at GFV in a studio. That’s great bang for your buck.
We bought them as SAP. We had never stayed at Saratoga. But something happened, we fell in love with the resort. We spent 8 nights in a 2 BR this summer and had a blast. We will use them to stay at other resorts but if we are a stuck staying there we will be very happy.

This post made just made me so happy. That's literally why we bought them with plans to hopefully stay at VGF and PIT for my birthday amd other occasions. And I think I will like SSR as well for the proximity to the golf course alone.

 

[HailToTheRedskins]

Quiet ROFR Monday… let’s see those approvals fly in today!

 

[mickeyshellbelle]

Quiet ROFR Monday… let’s see those approvals fly in today!

22 days today for me.. patiently waiting! Especially bc I will have 2024 points that need to be banked by end of May.

 

[HailToTheRedskins]

22 days today for me.. patiently waiting! Especially bc I will have 2024 points that need to be banked by end of May.

I say today is the day you pass! Sending good vibes your way!

 

[Brian Noble]

He said they weren’t listing and they’d have to go through foreclosure.

At $185/pt, there is no point. May as well just go through foreclosure. It's not a big hit to the credit rating, but it is probably also not their only problem.

 

[Sandisw]

At $185/pt, there is no point. May as well just go through foreclosure. It's not a big hit to the credit rating, but it is probably also not their only problem.

You wonder if they hoped that they’d be able to avoid foreclosure if they had a buyer and DV would let them out!