Confused about the way my resale purchase is going

[Dean]

If Disney had excercized ROFR, would/could they have forced the sale?

Technically and legally this might be true in most states but practically it isn't feasible in any state for such a small amount. So assuming both parties signed the contract, one could go to the expense of a lawyer and the courts to try to force the sale or seek recourse otherwise. Clearly not worth it $$$.

 

[sunryzez]

We really need a sticky of things to ask the broker:
Will the buyers have to bring money to the table (e.g. do they owe more for the mtge/fees than your offer will cover)?
Is it being sold due to divorce or probate?
Are they international sellers?
Do the current owners have any trips using those points scheduled?
Sorry it didn't work out, my first contract had divorcing sellers, but the broker told me that when I made the offer, so I took the risk the deal would fall apart because the price was pretty good. Hopefully you'll find a better contract and have smooth sailing next try.

I agree. I really thought I did all my research beforehand but I had no idea to ask those questions. Everyone I know had such a smooth process and no one on these boards ever posted anything like what I went through. I'm hoping my case is not something that usually happens but wanted to put it out there for people to be aware. We need to add something as a sticky so people are more prepared when putting in offers to avoid a situation like this.

 

[mustinjourney]

In my state when both the buyer and seller have a signed contract and the seller does not want to sell you can do a forced sale. In other words he/sh can't back out.

That can be expensive to enforce.

 

[KAT4DISNEY]

I agree. I really thought I did all my research beforehand but I had no idea to ask those questions. Everyone I know had such a smooth process and no one on these boards ever posted anything like what I went through. I'm hoping my case is not something that usually happens but wanted to put it out there for people to be aware. We need to add something as a sticky so people are more prepared when putting in offers to avoid a situation like this.

It's not a usual hints but it happens now and then. Actually, as they say, life happens.

I had a weird one once when selling. They apparently had a LOT of life happening. All kinds of excuses, changes etc. when we got to what had been the closing date and another excuse came in I as the seller cancelled. Still have that contract.

 

[sunryzez]

For those of you who were following my crazy resale story I wanted to give an update. As I had previously stated I got out of the contract and got all my money back and was ready to move on from the situation. However, a few weeks later I got an email from my agent who said the seller decided they did want to sell and signed everything that needed to be signed. Disney had given the all clear to still sell to me if I just signed a paper saying we are now going through with the original contract terms and it is no longer cancelled. I had to think long and hard about it because of all the stress this caused and I did not want to get wrapped into it all again. My DH really did not want to go through with it but I kept imagining our yearly Vero beach trips and the price was insanely low. My agent swore it would close in under a week if I agreed. We finally decided to jump back into it and sure enough we closed in about a week and points were loaded only 1 week later ( I'm already a member so I think that is why Disney could do it so fast for me)

So in the end from start to finish it took my contract almost 4 months. I don't know if I could handle the stress of resale again but I am sure glad that in the very end it all worked out! Thank you for all the wonderful advice during this whole process and I will hope all of your sales go smoother then mine. =)

 

[ktmo]

Wow, that is crazy. I am so glad that it worked out, and you were able to get the points you wanted.

 

[amccu18007]

I am happy that it ended well for you. I really felt for you this summer. How stressful!

 

[Toreby]

What a crazy ride. Glad it worked out for you in the end.