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Thread: Right of First Refusal and Closing Times

  1. #1
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    Question Right of First Refusal and Closing Times

    Have been considering adding some more points to my portfolio. Does anyone have any recent experience, and has transfer time come down? It was taking almost 6 months with their new ROFR and hoping that they have changed the process a little bit to make it quicker. You loose half your annual use year, when it takes them that long and then you only have saved points so not worth it in the long run.

  2. #2
    Goomba & Super Moderator tonyg's Avatar
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    Closing in time to get a week or points is sometimes a problem and I can remember dropping my offering price or passing up a purchase when that looked like it could be a problem. Slow ROFR response just exacerbates the problem. I also remember a sale I made where someone lost a week due to a dragged out closing.

  3. #3
    Silver Contributor and supermoderator GrayFal's Avatar
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    Quote Originally Posted by gandalf252002 View Post
    Have been considering adding some more points to my portfolio. Does anyone have any recent experience, and has transfer time come down? It was taking almost 6 months with their new ROFR and hoping that they have changed the process a little bit to make it quicker. You loose half your annual use year, when it takes them that long and then you only have saved points so not worth it in the long run.
    They have 30 days to ROFR.

    Bluegreen charges $450 to transfer and they have absolutely no incentive to get it done quickly.
    There are two authorized companies that transfer BG ownerships, anyone you would use would just have to get/send the paperwork to these companies.

    Kris Koski at Sterling (one of the two companies) https://www.linkedin.com/in/kris-koski-1991478 charges the same $450 and once she has the completed paperwork back from you and the seller, it has never taken more then 30 days, and most times less.
    Expect total process to take 6-8 weeks
    Last edited by GrayFal; 01-14-2016 at 06:35 PM.

  4. #4
    I just went through a Bluegreen purchase where they exercised ROFR. It took about 2 weeks to find out, and then unfortunately 2 more weeks to get a full refund from the company I purchased from. It all worked out in the end though.

    I think a lot is going to depend on how quickly the seller pushes the paperwork through the process, but you should be able to call them within a week or two to find out where you stand. That's what I did.

  5. #5
    Silver Contributor and supermoderator GrayFal's Avatar
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    Quote Originally Posted by ace2000 View Post
    I just went through a Bluegreen purchase where they exercised ROFR. It took about 2 weeks to find out, and then unfortunately 2 more weeks to get a full refund from the company I purchased from. It all worked out in the end though.

    I think a lot is going to depend on how quickly the seller pushes the paperwork through the process, but you should be able to call them within a week or two to find out where you stand. That's what I did.
    Did you do the paperwork by downloading the form from the BG site or did you use a different closing company
    Last edited by GrayFal; 03-22-2016 at 02:42 PM.

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