Just came to agreement but hoping to close before the end of year!

[MDAJA]

We just came to agreement on Bay Lake Tower Resale and signed the initial paperwork, just waiting on seller to sign so can be submitted to Disney for approval.
My worry is this. I know it takes about two months from this point for Disney approval and closing, and then about another week to get put into system, but I was really hoping to get in the system by the end of the year so that I can take advantage of the Premium Annual Pass Discount which ends on Dec 31st.
I know it's going to be cutting it real close and I'm getting worried that not going to make it in time, seeing as this promotion was one of my main reasons for purchasing a DVC.
Can anybody tell me if they've been closing any faster than 2 months out or if there is anyway to purchase the passes any earlier in the process.

 

[DannysMom]

Here is my purchase timeline C&P from another thread.....

I have another completed timeline for all the folks mid resale process.

6/21 Offer made and accepted
6/22 contracts emailed
6/24 contracts faxed back
6/25 Contracts sent to Disney for ROFR
**** the long ROFR wait****
7/17 Disney waives ROFR
7/27 closing documents emailed
7/28 FedEx'd documents and cashiers check for delivery
7/31 my closing docs received
**impatient wait**
8/9 got email that closing is complete and Disney has been notified of ownership change
8/16 call and got membership info and set up log in made first reservation

So all told, 8 weeks from offer to reservations. Not bad in my book.

It will be a race for your contract to get to closing, and you accts set up before year end, but you just may make it, if all goes well. GL

Sent from my iPad using DISBoards App, please excuse any typos.

 

[MDAJA]

Thanks DannysMom. I'll be crossing my fingers!

 

[333disneymom]

We will be at week eight next week, and we just received our closing documents Tuesday. It took 21 days to get the closing documents to us. ROFR was about 30 days. Good luck. I hope it works out for you. I guess the best you can do is get your items in as quickly as possible on your end.

 

[cz4ever]

If the Seller get their signed docs in quickly, I think you have an excellent chance of it getting in the system before the end of the year. Did the contract have any stipulation regarding how fast the Seller has to return documents? Too late to add now, but it's something you can include.

As for the timeline, two months from start to finish is not atypical. Disney may slow down a bit due to the holidays at the end of December, but with a bit of luck, I'm optimistic for ya!

Good luck!

 

[WILDERNESS FAN 55]

Guess I got lucky . Three days total from my bid to seller and sending overnite deposit. Went to Disney for ROFR 9/11 came thru 10/2.Closing docs signed and returned with some $$ 10/9 and is now in Disney's hands.Hoping to be in system by end of next week (fingers crossed)

 

[disneynutz]

We just had 5 contracts close and from submission to Disney for ROFR to points in the account, the average time was 58 days.

Bill

 

[MDAJA]

Thanks everyone for the support,
cz4ever, You hit on the one thing that's worrying me. I recieved my papers one night and reviewed them signed them and had them witnessed and returned them by the next morning. The seller had had the papers now for two days and still not returned them. I know I may be a bit anxious, but I hope it's not a sign of things to come.

 

[k3chantal]

We just came to agreement on Bay Lake Tower Resale and signed the initial paperwork, just waiting on seller to sign so can be submitted to Disney for approval.
My worry is this. I know it takes about two months from this point for Disney approval and closing, and then about another week to get put into system, but I was really hoping to get in the system by the end of the year so that I can take advantage of the Premium Annual Pass Discount which ends on Dec 31st.
I know it's going to be cutting it real close and I'm getting worried that not going to make it in time, seeing as this promotion was one of my main reasons for purchasing a DVC.
Can anybody tell me if they've been closing any faster than 2 months out or if there is anyway to purchase the passes any earlier in the process.

Welcome 'almost' home! I am sure you will enjoy your membership when you finally close but I was concerned that one of the main reasons for you purchasing DVC was the discount on the annual pass. Please go into this purchase knowing that perks are given and taken away often. If you go in thinking you are 'getting' more than an opportunity to make a reservation that you have prepaid for (and continue to pay for with your annual dues) you will find yourself disappointed.

Anyway, I will cross my fingers that the timing works out for you on this perk!

 

[MDAJA]

I may have overstated the "one of the main reasons" quote. I have been considering DVC for awhile but the premium annual passholder offer did make me commit to getting a deal made before the year ends. I do purchase annual passes every year already, so the DVC discount will help me out every year, but the premium annual pass offer is a savings of about $1200 for my family of 4, so that is a big reason for me hoping to close quickly.
That being said don't anybody get me wrong my main reason is the fact that I travel to Disney at least twice a year and will be saving money and staying at the Bay Lake which was my first choice for home resort.

 

[bumbershoot]

I may have overstated the "one of the main reasons" quote. I have been considering DVC for awhile but the premium annual passholder offer did make me commit to getting a deal made before the year ends.

Whew, OK. Good re-explanation.

 

[disneynutz]

I may have overstated the "one of the main reasons" quote. I have been considering DVC for awhile but the premium annual passholder offer did make me commit to getting a deal made before the year ends. I do purchase annual passes every year already, so the DVC discount will help me out every year, but the premium annual pass offer is a savings of about $1200 for my family of 4, so that is a big reason for me hoping to close quickly.
That being said don't anybody get me wrong my main reason is the fact that I travel to Disney at least twice a year and will be saving money and staying at the Bay Lake which was my first choice for home resort.

Do you intend to use all of the PAP benefits?

Disney is great at hyping a product that many don't even fully use. A great example is advertising all of the wonderful vacation destinations where DVC owners can use their points. Many will buy into the DVC without realizing that the point requirements for these vacations are high and that there are restrictions or limited availability.

You did good buying resale.

Bill

 

[montrealdisneylovers]

Thanks everyone for the support,
cz4ever, You hit on the one thing that's worrying me. I recieved my papers one night and reviewed them signed them and had them witnessed and returned them by the next morning. The seller had had the papers now for two days and still not returned them. I know I may be a bit anxious, but I hope it's not a sign of things to come.

Perhaps you can contact your broker and tell him that you are in a hurry to get this done before year end. He may be able to encourage the seller to move a little faster.

Good luck! You will LOVE BLT!!

 

[MDAJA]

Do you intend to use all of the PAP benefits?

Disney is great at hyping a product that many don't even fully use. A great example is advertising all of the wonderful vacation destinations where DVC owners can use their points. Many will buy into the DVC without realizing that the point requirements for these vacations are high and that there are restrictions or limited availability.

You did good buying resale.

Bill

We actually usually purchase Regular Annual Passes but the kids have been asking to try water parks and Disney Quest lately, so this promo is actually perfect timing. Plus we buy so much at Disney that the 20% discount will come in very handy.

 

[MDAJA]

Perhaps you can contact your broker and tell him that you are in a hurry to get this done before year end. He may be able to encourage the seller to move a little faster.

Good luck! You will LOVE BLT!!

Actually contacted broker yesterday and today again with that exact request and they supposedly have left messages with seller but still no papers. What's worst is I am going through Fidelity and they are closed on weekends so since the sellers didn't turn in papers today(Friday) now I have to wait the whole weekend.

 

[maburke]

Actually contacted broker yesterday and today again with that exact request and they supposedly have left messages with seller but still no papers. What's worst is I am going through Fidelity and they are closed on weekends so since the sellers didn't turn in papers today(Friday) now I have to wait the whole weekend.

Now the broker knows you'd like to move quickly. After the contract comes back from ROFR (which almost always takes nearly 30 days, maybe a week less, unless Disney wants to take it), you'll get the closing documents. Make sure you send those back to the closing company quickly, and tell them that you are in a hurry, too. I had an estimated closing date, and was working from that, but my closing company closed as soon as they got my docs and $, which was a full week earlier. So that was nice.

Unfortunately, Disney may then take their time putting you into the system, and I don't know how to rush that. Especially since that will come right at the holiday time for you.

 

[kyle051777]

I think ours was 9 wks. Good luck it will be close.

 

[JABEAR]

We have an offer in for an OKW contract and are waiting on ROFR. This Tuesday will be 30 days. Really hope it passes or we'll be in almost the same boat, but we would be starting from scratch trying to find a different contract, agree to terms and get closed by the end of the year. Any other resort and I wouldn't be so nervous.

Good luck!