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ROFR

JimIg23

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As a buyer, if the timeshare you are trying to buy is taken by the company via ROFR, do you incur any costs from the closing up to point of the ROFR? And if you shouldn't has anyone been hit with some type of costs?

Thanks
 

m61376

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If you have placed your deposit in an escrow account your full deposit should be returned to you. In general, buyers are not responsible for any broker fees or the like. However, at least one of the resale agencies charge a fee to buyers and I am not sure what happens in cases of ROFR with that.
 

johnmfaeth

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The issue is to get to the ROFR being exercised, the seller and the buyer have to sign a sales contract which is submitted with the ROFR request.

If the sales contract was created by the closing company, chances are it also did a certain amount of research to verify details for the contract.

So a small fee to pay for the above is reasonable. That's a good chunk of work.

Such things should be discussed up front when engaging a closing company.

PS. While the buyer normally pays fees, I would negotiate the deal that all costs shift to the seller if the RIFR is exercised.
 
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