DVC RESALES
DVC RESALES

Go Back   The DIS Discussion Forums - DISboards.com > Disney Vacation Club > Purchasing DVC
facebooktwitterpinterestgoogle plusyoutubeDIS Updates
Register Chat FAQ Tickers Search Today's Posts Mark Forums Read


Reply
 
Thread Tools Rate Thread Display Modes
Old 06-28-2014, 11:37 AM   #1
MJ6987
DIS Veteran
 
Join Date: May 2008
Posts: 742

Resale - when do you pay?

Hi,
We are currently in the process of buying into DVC for the first time (100 points at BWV). It went to Disney for ROFR a week ago (22/6). Assuming it passes, when approximately will I need to pay? Just that I need to get the money out of savings. Thanks.
MJ6987 is offline   Reply With Quote
Old 06-28-2014, 11:43 AM   #2
disneynutz


Earning My Ears One At A Time
 
disneynutz's Avatar
 
Join Date: Dec 2006
Location: North Texas
Posts: 18,740

Quote:
Originally Posted by MJ6987 View Post
Hi,
We are currently in the process of buying into DVC for the first time (100 points at BWV). It went to Disney for ROFR a week ago (22/6). Assuming it passes, when approximately will I need to pay? Just that I need to get the money out of savings. Thanks.
Contact your broker and ask them. Different brokers may have different payment terms.

Bill
__________________

disneynutz is offline   Reply With Quote
|
The DIS
Register to remove

Join Date: 1997
Location: Orlando, FL
Posts: 1,000,000
Old 06-28-2014, 11:44 AM   #3
MJ6987
DIS Veteran
 
Join Date: May 2008
Posts: 742

Quote:
Originally Posted by disneynutz View Post
Contact your broker and ask them. Different brokers may have different payment terms.

Bill
It's the Timeshare Store
MJ6987 is offline   Reply With Quote
Old 06-28-2014, 12:04 PM   #4
han22735
Earning My Ears
 
Join Date: Mar 2014
Posts: 70

Quote:
Originally Posted by MJ6987

It's the Timeshare Store
I used them as well recently. I had to send the check when I got the closing docs. So you're probably going to pay in about 45 days at the earliest.
han22735 is offline   Reply With Quote
Old 06-28-2014, 01:56 PM   #5
MJ6987
DIS Veteran
 
Join Date: May 2008
Posts: 742

Quote:
Originally Posted by han22735 View Post
I used them as well recently. I had to send the check when I got the closing docs. So you're probably going to pay in about 45 days at the earliest.
Thanks
MJ6987 is offline   Reply With Quote
Old 06-28-2014, 02:16 PM   #6
Msmithmd
DIS Veteran
 
Msmithmd's Avatar
 
Join Date: Jul 2012
Posts: 1,115

I waited to move the money from savings until the day we heard it passed ROFR. No reason to do it any sooner.

When they send the closing paperwork out, your inclination as a buyer will be to hurry. The seller won't feel the same, and the sellers' forms have to be notarized.

So you easily have a week, even after you hear that you pass, before the funds' move needs to be complete. Also, the closing agency usually wants a cashiers check- which your bank may well be able to withdraw against your savings account directly in any case.
Msmithmd is offline   Reply With Quote
Old 06-28-2014, 03:12 PM   #7
wildforgoofy
Mouseketeer
 
wildforgoofy's Avatar
 
Join Date: Jan 2012
Location: Ohio
Posts: 296

Quote:
Originally Posted by Msmithmd View Post
I waited to move the money from savings until the day we heard it passed ROFR. No reason to do it any sooner. When they send the closing paperwork out, your inclination as a buyer will be to hurry. The seller won't feel the same, and the sellers' forms have to be notarized. So you easily have a week, even after you hear that you pass, before the funds' move needs to be complete. Also, the closing agency usually wants a cashiers check- which your bank may well be able to withdraw against your savings account directly in any case.
Exactly what we did.
__________________
Terri
wildforgoofy is offline   Reply With Quote
Old 06-28-2014, 03:57 PM   #8
Best Aunt
"That's the best-est present ever!"
 
Best Aunt's Avatar
 
Join Date: May 2009
Posts: 1,963

Timeframe

I'm currently selling through TSS. It took 30 days for Disney to waive ROFR. Then the title company had to wait for Disney to send them info about my contract, before they could prepare the closing documents. The closing documents arrived by e-mail 13 days after we were notified that Disney passed ROFR. As PP said, you're told to send a check when you get the closing documents.
__________________


Best Aunt is offline   Reply With Quote
Old 06-28-2014, 08:46 PM   #9
LisaS
DIS Veteran
 
LisaS's Avatar
 
Join Date: Feb 2005
Location: MA & AKV/BWV/VWL
Posts: 10,323

Quote:
Originally Posted by Msmithmd View Post
When they send the closing paperwork out, your inclination as a buyer will be to hurry. The seller won't feel the same, and the sellers' forms have to be notarized.
It depends on the seller. We received our closing docs on a Friday. The closing company received our signed copies the following Tuesday. The sellers paperwork had already arrived by that time! We closed on Wednesday.
__________________
LisaS is online now   Reply With Quote
Old 06-29-2014, 09:50 AM   #10
judydvc
DVC veteran
 
judydvc's Avatar
 
Join Date: May 2005
Location: Philly, Vegas, VWL & VGC
Posts: 108

Quote:
Originally Posted by LisaS View Post
It depends on the seller. We received our closing docs on a Friday. The closing company received our signed copies the following Tuesday. The sellers paperwork had already arrived by that time! We closed on Wednesday.
When I sold I set my docs right back. Even though I was sad to say goodbye to my points.
__________________
Judy
judydvc is offline   Reply With Quote
Reply



Thread Tools
Display Modes Rate This Thread
Rate This Thread:

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

Forum Jump

DVC-Resales.com | 1-800-550-6493 (Contact The Timeshare Store) | DVC Resale Listings

facebooktwittergoogle plus youtube itunesDIS Updates
GET OUR DIS UPDATES DELIVERED BY EMAIL



All times are GMT -5. The time now is 11:11 PM.

Powered by vBulletin® Version 3.8.4
Copyright ©2000 - 2014, Jelsoft Enterprises Ltd.

Copyright © 1997-2014, Werner Technologies, LLC. All Rights Reserved.