Closing Time!!

ustasmom · Nov 25, 2015

What is the process from the time they say you are closing to when it shows on the comptroller site? Is somebody physically going to the office or is everything electronic now? And is there a backlog at the comptroller site?

mickeyman · Nov 25, 2015

I closed on a Friday and Monday morning it showed up on site

ustasmom · Nov 25, 2015

I can see the deed closed in my husband's name today. I don't know where my name went though.

LisaS · Nov 25, 2015

ustasmom said:
I can see the deed closed in my husband's name today. I don't know where my name went though.

That's not good. If you listed both of your names on the paperwork you should both be listed on the deed. Also, if you are not listed as an owner on your contract, you will not get an membership card and will not be entitled to any perks unless you are with your DH.

The initial paragraph of your deed should include wording like the following where your name and your DH's name are followed by the phrase "wife and husband" (or "husband and wife" depending on the order of the names) or "tenants in the entireties":

"This Warranty Deed made this <day> of <month>, 2015, between <seller 1> and <seller 2>, wife and husband, grantor, and <your name> and <your DH's name>, wife and husband, grantee:"

If your name is not listed then you may not legally be a co-owner of the contract. Were both of your names listed in the closing documents? Did both of you sign everything?

ustasmom · Nov 25, 2015

LisaS said:
That's not good. If you listed both of your names on the paperwork you should both be listed on the deed. Also, if you are not listed as an owner on your contract, you will not get an membership card and will not be entitled to any perks unless you are with your DH.

The initial paragraph of your deed should include wording like the following where your name and your DH's name are followed by the phrase "wife and husband" (or "husband and wife" depending on the order of the names) or "tenants in the entireties":

"This Warranty Deed made this <day> of <month>, 2015, between <seller 1> and <seller 2>, wife and husband, grantor, and <your name> and <your DH's name>, wife and husband, grantee:"

If your name is not listed then you may not legally be a co-owner of the contract. Were both of your names listed in the closing documents? Did both of you sign everything?

I am listed on the document but my name doesn't come up on OCC site. I called and they told me that it was because my name was not in the system. They were working on documents from the 23rd. She added me, though.

ustasmom · Nov 25, 2015

BLT contract:

Offer made: 10/8
Offer accepted - 10/9
Submitted to ROFR - 10/12
Passed ROFR - 10/19
Received closing docs - 11/9
Closing docs/payment made - 11/10
Closed 11/24
Deed Recorded 11/25

2016 MF added to closing.

$85-$8500-100-AKV-AUG-100/15, 100/16, 100/17. Seller pays 2015 dues. Buyer pays 2016 dues.

Offer accepted - 10/16
Submitted to ROFR - 10/27
Passed ROFR - 11/9
Received closing docs - 11/19, corrected 11/24
Closing docs/payment made - 11/25
Deed recorded - pending

2016 MF not added to closing.

Popouri DVC · Nov 27, 2015

pangyal said:
Are you dealing with ***? Their communication is very poor lately. I would just go by the date in the deed recording and estimate closing about two days before that .

I am really unhappy with *** right now. Received closing docs for VGF on October 28 and that was after begging them for a week to get them to me after I was told they were ready. We are in Canada, yet managed to have our documents and funds to them by Oct. 31. It is now 20 days later, they have everything from both buyer and seller, and it STILL hasn't closed. No good reason. I am super frustrated as I am trying to book a "big birthday" trip for next September and VGF is of course filling up!

I have pleaded with them for updates and have received no response. The broker has gotten some updates for me, but they are very vague ("will close soon") and unhelpful.

I get that Disney has flooded them with waivers and estoppels lately, but I feel that I am paying just as much for their closing service as when they are not so busy. Our closing documents were incorrect on the financial side, and I had to deal with that as well. The closing company we are dealing with for our PVB contract looks like they will close it before this mine, and it went in three weeks later.

Thanks everyone for letting me vent .

Lord have mercy!

I too used ***: we closed 10/14 and my points were loaded into my DVC account by 10/22.

All in all: Offer Accepted: 7/28.
Points in account: 10/22.

Not bad for how molasses-like the process was in the fall. I guess I was one of the last closings for *** before they became inundated and overwhelmed. :crutches:

girli565 · Dec 1, 2015

So here's an update on my resale that's taking forever...

Offer Made - 8/31
Offer accepted - 8/31
Submitted to ROFR - 9/2
Passed ROFR - 9/23
Received closing docs - 11/13
Closing docs returned/payment made - 11/18
Title Co received closing docs - 11/20
Seller signed deed - 11/25
Closing date addendum signed & received by broker (because we went past our original contract closing date) - 12/1
Deed recorded & showing on OC site - ??

So we're still waiting. We had to sign and email back an addendum because we had passed our original closing date of 11/9/15 :scared:

I went ahead and booked a regular hotel for the Star Wars race weekend in April because I don't want to chance not getting a hotel (like for Everest challenge race weekend when hotels were sold out). And I'm crossing my fingers I can get a DVC studio if I stalk it enough and put in a wait list request.

jnjhuddle · Dec 1, 2015

girli565 said:
So here's an update on my resale that's taking forever...

Offer Made - 8/31
Offer accepted - 8/31
Submitted to ROFR - 9/2
Passed ROFR - 9/23
Received closing docs - 11/13
Closing docs returned/payment made - 11/18
Title Co received closing docs - 11/20
Seller signed deed - 11/25
Closing date addendum signed & received by broker (because we went past our original contract closing date) - 12/1
Deed recorded & showing on OC site - ??

So we're still waiting. We had to sign and email back an addendum because we had passed our original closing date of 11/9/15
I went ahead and booked a regular hotel for the Star Wars race weekend in April because I don't want to chance not getting a hotel (like for Everest challenge race weekend when hotels were sold out). And I'm crossing my fingers I can get a DVC studio if I stalk it enough and put in a wait list request.

Are you using ***?
Our timeline is similar.

Submitted to ROFR 9/10
Passed ROFR 9/30
Addendum sent 10/7 (only 1 seller on deed and original sent with both husband and wife's name on paperwork)
Received closing docs 11/5
Title co received our closing docs 12/1
Closing date addendum sent 12/1....

Both Nancy at *** and Jaimie at TSS have been great with communication thus far.

Our original closing date was 12/1. We were on vacation when we got the docs and this one required notarized signatures with witnesses which was new for me and caused a delay for us. Thought we could do this at our bank (PNC)last week. Not so simple. Went to 1st branch (my husband was able to sneak out of work for a bit) and notary had just left for lunch break, drove to another branch but they said they weren't allowed to notarize Real estate documents and suggested ups store. Drive to ups store and notary there says charge is $7.50 PER SIGNATURE and we need to bring our own witnesses.(that would be $7.50 x10 signatures because 2 of the pages required 2 witnesses)!! At this point my hubby had to go back to work and we were going away for Thanksgiving weekend. Called our other bank (TD bank) yesterday and they said they can do it but there employees could not provide witness so would need to bring our own. Never realized how difficult it could be to round up a couple adults not related to me to drag out during working hours. Fortunately, I found our county store (we had gotten our passports here) could do it for $2.50 per seal (page) and would witness too!! So was able to get that done quickly and send package overnight. I'm sure our sellers are anxious to close and receive their funds before the holidays.

girli565 · Dec 1, 2015

jnjhuddle said:
Are you using ***?
Our timeline is similar.

Submitted to ROFR 9/10
Passed ROFR 9/30
Addendum sent 10/7 (only 1 seller on deed and original sent with both husband and wife's name on paperwork)
Received closing docs 11/5
Title co received our closing docs 12/1
Closing date addendum sent 12/1....

Both Nancy at *** and Jaimie at TSS have been great with communication thus far.

Our original closing date was 12/1. We were on vacation when we got the docs and this one required notarized signatures with witnesses which was new for me and caused a delay for us. Thought we could do this at our bank (PNC)last week. Not so simple. Went to 1st branch (my husband was able to sneak out of work for a bit) and notary had just left for lunch break, drove to another branch but they said they weren't allowed to notarize Real estate documents and suggested ups store. Drive to ups store and notary there says charge is $7.50 PER SIGNATURE and we need to bring our own witnesses.(that would be $7.50 x10 signatures because 2 of the pages required 2 witnesses)!! At this point my hubby had to go back to work and we were going away for Thanksgiving weekend. Called our other bank (TD bank) yesterday and they said they can do it but there employees could not provide witness so would need to bring our own. Never realized how difficult it could be to round up a couple adults not related to me to drag out during working hours. Fortunately, I found our county store (we had gotten our passports here) could do it for $2.50 per seal (page) and would witness too!! So was able to get that done quickly and send package overnight. I'm sure our sellers are anxious to close and receive their funds before the holidays.

Yes, we're using ***. Nancy has been great with communication but I just don't understand why there was such a lag between passing ROFR and receiving our closing documents.

Our bank, my teacher credit union, notarizes for free and provides the witnesses so that was the easy part. We had the papers signed and ready in two days, would've been sooner but my bank doesn't open on the weekends. I'm just disappointed in how long it seems to take *** to prepare the papers when my financing company had everything prepared at the beginning of November. *** made it seem like it was the lenders fault but I spoke to the lender and they told me that the completed loan file had been sent almost two weeks before I called to check in. It's frustrating but I know for next time, because we'll def need more points than we bought, I'll make sure *** isn't the title company.

ustasmom · Dec 1, 2015

We went to two different banks for our closings and neither bank charged. And they both pulled tellers in to witness. Now getting a money order was a different story. Our bank isn't local and all of them needed a checking or savings account to "back" the cashier's check, even though I was paying in cash.

jnjhuddle · Dec 2, 2015

girli565 said:
Yes, we're using ***. Nancy has been great with communication but I just don't understand why there was such a lag between passing ROFR and receiving our closing documents.

Our bank, my teacher credit union, notarizes for free and provides the witnesses so that was the easy part. We had the papers signed and ready in two days, would've been sooner but my bank doesn't open on the weekends. I'm just disappointed in how long it seems to take *** to prepare the papers when my financing company had everything prepared at the beginning of November. *** made it seem like it was the lenders fault but I spoke to the lender and they told me that the completed loan file had been sent almost two weeks before I called to check in. It's frustrating but I know for next time, because we'll def need more points than we bought, I'll make sure *** isn't the title company.

I would guess maybe changing lenders did cause somewhat of a delay? Or maybe they are "punishing" you for emailing and inquiring about your closing docs. Lol. I feel like they were chasing me down...I was on vacation and didn't realize I needed to email them to tell them that I received the closing docs, so both Nancy and Jaimie were sending me emails to please respond. The process is slow, but worth it in the end and honestly no different from my original purchase in the spring with a different title company.

Super curious to see since we both did the closing addendum yesterday if they will close on or about the same time.

girli565 · Dec 2, 2015

ustasmom said:
We went to two different banks for our closings and neither bank charged. And they both pulled tellers in to witness. Now getting a money order was a different story. Our bank isn't local and all of them needed a checking or savings account to "back" the cashier's check, even though I was paying in cash.

Couldn't you have just gotten a money order from amscot or western union? My bank wanted to charge me $10 for a cashier's check since it wasn't over $1000. I took the cash out and took it to amscot for a free money order to mail them.

jnjhuddle said:
I would guess maybe changing lenders did cause somewhat of a delay? Or maybe they are "punishing" you for emailing and inquiring about your closing docs. Lol. I feel like they were chasing me down...I was on vacation and didn't realize I needed to email them to tell them that I received the closing docs, so both Nancy and Jaimie were sending me emails to please respond. The process is slow, but worth it in the end and honestly no different from my original purchase in the spring with a different title company.

Super curious to see since we both did the closing addendum yesterday if they will close on or about the same time.

I don't think so because I made the change back in the beginning of October before any paperwork was even drawn up for closing. I even called to confirm that I could change lenders and Nancy said it was perfect because she hadn't started closing docs.

Yes, my broker and Nancy were hounding me to send back the addendum but he sent it just thanksgiving and I wasn't at home any day from Thanksgiving long enough to sit down at the computer to scan it until This past Monday.

I'm curious to see when they actually close and the deed is filed. The orange county website is a bit behind probably because of the holiday.

disneyfan314 · Dec 2, 2015

Here's my timeline:
Offer made and accepted: 11/17
Passed ROFR: 11/23
Estoppel: ????
Received closing docs: 12/1
Returned closing docs and payment made (electronically): 12/2

Now I'm waiting on the seller to return his closing docs.

DisBuckMan · Dec 3, 2015

Well, we FINALLY received closing documents this morning 4 weeks to the day after receiving estoppel.

After receiving our closing documents and reviewing them, I am completely baffled as to why it took 4 weeks to generate these 5 pages. 2 of the pages are nothing more than an instructions page and a timeline for closing page, both of which are general, non-customer specific pages that are sent to everyone. I realize they are probably busy, but I could have prepared these documents in about 15 minutes, easily.

Here's our timeline thus far:

10/19/15 FORMAL OFFER MADE / NEGOTIATIONS / ACCEPTED
10/20/15 CONTRACT RECEIVED, SIGNED, & RETURNED VIA EMAIL TO BROKER
10/20/15 SELLER CONTRACT SIGNED AND RETURNED
10/20/15 CONTRACT SUBMITTED TO DISNEY FOR ROFR
10/20/15 SIGNED CONTRACT & ESCROW SENT TO TITLE COMPANY
10/23/15 NOTIFIED BY TITLE COMPANY OF RECEIPT AND DEPOSIT OF ESCROW MONEY
10/30/15 PASSED ROFR
11/5/15 RECEIVED ESTOPPEL
12/3/15 RECEIVED CLOSING DOCUMENTS

jay42k · Dec 3, 2015

Received member number today. Here is the updated timeline:
8/21 offer accepted
9/21 passed ROFR
10/9 received closing documents
10/15 returned closing documents and payment
11/19 closed & deed recorded on OCC site
12/3 member number received (via phone)
12/3 booked first trip

AmyKat · Dec 3, 2015

jay42k said:
12/3 member number received (via phone)

How did you get your member number over the phone?

Ivylie1234 · Dec 3, 2015

My deed was recorded today. I'm interested in finding out how some are successful in getting their member number over the phone too. Seems to be pretty hit or miss.

jay42k · Dec 3, 2015

AmyKat said:
How did you get your member number over the phone?

Per what others have done, I called MS, opt 3,4. Contract did not show up in the system until today, and based on what I have read by looking at the multitude of others' timing on this forum, it is evident that it takes at least two full weeks for contracts to even show up in the system. Some have reported 3 weeks. I would not bother MS until at least two full weeks. Patience is a virtue in the entire resales process.

AmyKat · Dec 3, 2015

Thanks. I tried that and they said they don't give membership numbers out over the phone. But, my points were transferred on 11/29 and my member number was mailed on 11/30. I'm impatiently waiting on today's mail. Hopefully it will be in there. (Our deed was recorded 11/17.)

Closing Time!!

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