ROFR time limit?

[Jason&Michael]

Just seeking clarification as I’ve heard two different things about ROFR: 1) Some people say that Disney has 30 days to exercise ROFR or waive it. What if they take longer? OR 2) Others say that Disney often takes longer than a month to respond.

Anyone know which one is correct?

 

[MerlinandtheMouse]

I’ve always been given the 30-45 day spiel I’ve never heard them limit it to 30 days before. Our only resale contract only took about 18 or 19 days and I’m less than 2 weeks waiting currently for 2 other contracts so I can’t say I have a ton of experience either.

 

[MerlinandtheMouse]

I just looked at the initial emails saying my contracts are going to Disney for ROFR and they’ve said “Disney is typically taking 25 to 35 days to respond” or something along those lines. So they keep it a bit vague.

 

[GrumpyInPhilly]

I just purchased a contact this month that took 9 days from ROFR submittal to passing and that included Thanksgiving and the day after during which I'm sure nothing happened.

 

[Jimmy Geppetto]

Just seeking clarification as I’ve heard two different things about ROFR: 1) Some people say that Disney has 30 days to exercise ROFR or waive it. What if they take longer? OR 2) Others say that Disney often takes longer than a month to respond.

Anyone know which one is correct?

Technically they have until your closing date. The 30-45 days is a predicted timeline.

Most title companies won’t close unless Disney waives regardless of timelines. But they technically have until the closing date stipulated in the contract.

 

[Sandisw]

The contract says that DVD must be given at least 30 days to act before a closing date is set. That means they can take up to that date.

Technically, once the 30 days has passed, the contract couod be scheduled to close. However, no broker will do that and it’s why the closing date is usually at least 60 days out.

Other than a few different time periods, like during 2020, they pretty much answer between 3 to 4 weeks, At times, it’s been even faster…like right now.

 

[RD-SOX]

Just seeking clarification as I’ve heard two different things about ROFR: 1) Some people say that Disney has 30 days to exercise ROFR or waive it. What if they take longer? OR 2) Others say that Disney often takes longer than a month to respond.

Anyone know which one is correct?

I don't think there is any right or wrong answer. I have heard that it might take up to 30 days. Our ROFR took 12 days, it was submitted on 10/29, and waived by Disney on 11/10

 

[Jason&Michael]

The contract says that DVD must be given at least 30 days to act before a closing date is set. That means they can take up to that date.

Technically, once the 30 days has passed, the contract couod be scheduled to close. However, no broker will do that and it’s why the closing date is usually at least 60 days out.

Other than a few different time periods, like during 2020, they pretty much answer between 3 to 4 weeks, At times, it’s been even faster…like right now.

Thank you everyone! It makes a lot more sense now. We’ve currently been waiting for a little over a month. Guess we’ll cross our fingers and keep waiting

 

[AwfulWaffle]

We’ve currently been waiting for a little over a month. Guess we’ll cross our fingers and keep waiting

You can always reach out to the broker and/or title company and get a status check. Just in case someone forgot to cross a T or dot an I along the way,….not that a broker would ever do that ::cough, cough:;

 

[sndral]

Thank you everyone! It makes a lot more sense now. We’ve currently been waiting for a little over a month. Guess we’ll cross our fingers and keep waiting

Over a month is longer than most - see this thread to get an idea of how long ROFR is taking currently https://www.disboards.com/threads/closing-time.3836891/page-261
I’d reach out to the title co. & the broker & ask them for verification of the exact date the contract was officially sent to ROFR, through the years there have been cases where a brokerage has delayed sending a contract or has made a mistake & had to resubmit one.

 

[MagicDVC]

Technically, they have until your closing date, however recently they've been issuing estoppels within 30 days. You can check out the ROFR thread to see how long it's been taking. I'll usually follow up with the broker if people who submitted on my date have gotten responses.