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Old 02-06-2013, 11:04 PM   #1
ninjagirl
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So successions are no fun

I just wanted to update on our SSR purchase. As you may or may not recall, we placed an offer the Monday after Thanksgiving and it was accepted immediately by the seller (we offered asking price $50/pt February UY 100 pt SSR). I found out through a little googling that the property was actually an inheritance. The current seller is pretty young so Iimagine it was in a trust until she turned 21 and is now just able to sell it. I think we got a great deal and that seems to be the only thing preventing the bottom from falling out of this whole deal because holy heck it is SOOOO slow. We waited over a week and a half to get the original contract. It didn't go to ROFR until mid December. It pasted in the typo cal time frame on January 8thand we are still waiting for the closing documents a month later. Legally, we can opt out at this point and not lose our deposit because of the timeline. What would you do? Continue to wait or back out? We aren't really in any hurry. We have BLT points and are able to book the vacation we want next year for that. The only real time frame issue is that at the 7 month window we'd like to use our SSR points to move from a 2br to a GV. So, with that said, opinions please.
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Old 02-06-2013, 11:08 PM   #2
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Pay cash or rent points. This sounds like a big hassle and not worth your valuable time.
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Old 02-06-2013, 11:28 PM   #3
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If you're not in danger of having any points expire, I don't see the harm in waiting it out. If you are going to lose points because of this delay, I would get your money out. That being said, I wouldn't count on this deal to go through in time for your reservation and I would look into getting a point transfer so that your vacation is not tied to this lengthy situation.

On a side note, this is an interesting anecdote for those who talk about breaking their purchases up into smaller contracts and leaving them to their kids. From the sound of it, this "kid" couldn't wait to list her contract for sale. Yikes!
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Old 02-07-2013, 09:07 AM   #4
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It's a February UY contract, so we don't have to bank until November. The only thing that would expire are the 2012 points but we knew going in that it would be REALLY tight to get to use those. So it was kind of like a bonus if we got them, no big deal if we didn't. We don't really NEED the points immediately and we aren't in a position to pay 2k a night for a GV. We fit comfortably in a 2br and have enough points from our BLT contract to do so. It's just a bonus really. In a few years when there's more grandkids and spouses involved, we'll definitely need the room. Our intention was buying this contract and then we'd be finished with enough points to take everyone every two years. It's not really per se a big deal, just that it's annoying waiting and having $1,000 tied up into perpetuity.
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Old 02-07-2013, 09:11 AM   #5
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I think I would wait it out since it's a good deal for you.

That said, it wouldn't hurt to get the broker to start nagging the closing agent and the seller to get things done. I would be willing to bet it is just sitting on someone's desk right now because he/she doesn't quite know how to proceed since it isn't a "typical" closing. IMO, you are going to have to be a bit of a pain to get it moving!
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Old 02-07-2013, 09:14 AM   #6
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Quote:
Originally Posted by ELMC View Post
If you're not in danger of having any points expire, I don't see the harm in waiting it out. If you are going to lose points because of this delay, I would get your money out. That being said, I wouldn't count on this deal to go through in time for your reservation and I would look into getting a point transfer so that your vacation is not tied to this lengthy situation.

On a side note, this is an interesting anecdote for those who talk about breaking their purchases up into smaller contracts and leaving them to their kids. From the sound of it, this "kid" couldn't wait to list her contract for sale. Yikes!
Ya know it's really strange because on the surface of what I can tell from the internets, she really loves Disney. (This should also be a PSA for everyone to google themselves. I do it once a month and am always surprised to find info that I didn't know was google-able). I think it's just a matter of she's in college and it's expensive to travel so she off loaded it. I could be totally wrong, but she has Disney themed tattoos. That's generally not the person that sells a DVC, at least not in my head. When my parents bought in, they just listed us all on the contract and we can decide what to do with it together. I don't imagine it'll be an issue because we use it so much now but I know life changes, things come up etc.
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Old 02-07-2013, 09:18 AM   #7
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I agree if you aren't in a real hurry, wait it out. You did get a good deal. I would also be calling & pestering both your broker & the closing agent to see what the holdup is & when you can expect to be closed already.

With a February UY your banking deadline will be Sept 30th, NOT November. If those 2012 points were not banked they are already lost, if they were banked before 9/30/12, you will have until 1/31/14 to use them.

Sent from my iPad using DISBoards App, please excuse any typos or autocorrects!
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Old 02-07-2013, 09:21 AM   #8
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Actually if she lost her parent and is in college, I understand her selling. She probably does not have the cash to lay out for dues and the money she can get for selling could support for a year perhaps, while she finishes school.

Sent from my iPad using DISBoards App, please excuse any typos or autocorrects!
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Old 02-07-2013, 09:29 AM   #9
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If the kid is in college and the family trust attorney is back home, that could certainly slow things down. It is a really good deal for a 100 pt contract and I'd be tempted to wait. You have a couple of more months before your 7 month window opens for November. But if you are antsy, say something to the broker that you are considering backing out because it's so slow. Clearly the girl wants/needs the cash, so that might get her moving.
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Old 02-08-2013, 06:29 AM   #10
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Quote:
Originally Posted by ninjagirl View Post
It's a February UY contract, so we don't have to bank until November. The only thing that would expire are the 2012 points but we knew going in that it would be REALLY tight to get to use those. So it was kind of like a bonus if we got them, no big deal if we didn't. We don't really NEED the points immediately and we aren't in a position to pay 2k a night for a GV. We fit comfortably in a 2br and have enough points from our BLT contract to do so. It's just a bonus really. In a few years when there's more grandkids and spouses involved, we'll definitely need the room. Our intention was buying this contract and then we'd be finished with enough points to take everyone every two years. It's not really per se a big deal, just that it's annoying waiting and having $1,000 tied up into perpetuity.
Thats a great price. I think with all considered it has to be walked thru a lot of steps, attorneys $$, angst in selling something from the family, monetary issues for the girl. Wow I would hate to be in her shoes. Reach out to the salesperson, salesperson should have had points banked if they are working for their commission and helping the girl. You've waited this long I would give the girl a break and stay the course.
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Last edited by disbound09; 02-08-2013 at 06:31 AM. Reason: grammer
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Old 02-08-2013, 07:51 AM   #11
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Waiting months won't seem like much for the 29 years of enjoyment you will have! Have faith..... it'll come through!!
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Old 02-11-2013, 02:36 PM   #12
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We are in a similar position in that our offer was accepted back in early October and we still have not closed yet. We passed ROFR (FINALLY) in January, but are buying a bankruptcy and well, guess the seller's agent fell off the bus and forgot to make sure that all the paperwork was in place so there has been delay after delay for missing data.

That said, its a great deal you are looking at, so if you can wait, wait. That was the route we took and though its frustrating as anything, in the long run we are buying the right amount of points for us, and for the right budget.

hang in there!!
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