DVC RESALES
DVC RESALES

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





Reply
 
Thread Tools Rate Thread Display Modes
Old 03-26-2013, 01:01 PM   #1
Debbru
Mouseketeer
 
Join Date: Feb 2002
Posts: 449

Question (probably only DVC knows the answer)

Does anyone have a guess on the timeframe from when DVD snags a contract thru ROFR until the time those points can be sold to someone on the direct waitlist? Do they have to wait for the whole closing process, deed recording, whatever or do they own those points immediately?

Thanks - impatiently waiting on the OKW waitlist :-)
Debbru is offline   Reply With Quote
Old 03-26-2013, 01:24 PM   #2
wdrl
DIS Veteran
 
wdrl's Avatar
 
Join Date: May 2009
Location: BLT, AKV, Aulani
Posts: 2,699

The execution of its Right of First Refusal by DVD is only one of several steps in the resale transaction process. Until DVD actually closes on the resale transaction, it does not own the points. Like any other buyer in a real estate transaction involving DVC points, DVD is subject to the same delays that sometimes befall others: Sellers that are late in submitting their paperwork; snafus because the deed is tied up in an estate, divorce, or bankruptcy proceeding; or sellers that change their mind and back out of the deal at the last moment.

It usually only takes weeks for DVD to close on a transaction, but sometimes it can take much longer. I know someone who first submitted an offer back in September and is just now going to closing. Fortunately, that is a very rare situation.

Good luck!
__________________
wdrl is offline   Reply With Quote
|
The DIS
Register to remove

Join Date: 1997
Location: Orlando, FL
Posts: 1,000,000
Old 03-26-2013, 01:47 PM   #3
disneynutz


Earning My Ears One At A Time
 
disneynutz's Avatar
 
Join Date: Dec 2006
Location: North Texas
Posts: 18,737

Quote:
Originally Posted by wdrl View Post
The execution of its Right of First Refusal by DVD is only one of several steps in the resale transaction process. Until DVD actually closes on the resale transaction, it does not own the points. Like any other buyer in a real estate transaction involving DVC points, DVD is subject to the same delays that sometimes befall others: Sellers that are late in submitting their paperwork; snafus because the deed is tied up in an estate, divorce, or bankruptcy proceeding; or sellers that change their mind and back out of the deal at the last moment.

It usually only takes weeks for DVD to close on a transaction, but sometimes it can take much longer. I know someone who first submitted an offer back in September and is just now going to closing. Fortunately, that is a very rare situation.

Good luck!
I would think that DVD knows all of the issues with a contract before they snatch it up. They do their own closings so they don't have the delays that we would have plus they don't have the DVC delays that they deliberately cause resale buyers.

Bill
__________________

disneynutz is offline   Reply With Quote
Old 03-26-2013, 02:30 PM   #4
wdrl
DIS Veteran
 
wdrl's Avatar
 
Join Date: May 2009
Location: BLT, AKV, Aulani
Posts: 2,699

Quote:
Originally Posted by disneynutz View Post
I would think that DVD knows all of the issues with a contract before they snatch it up. They do their own closings so they don't have the delays that we would have plus they don't have the DVC delays that they deliberately cause resale buyers.

Bill
Granted, DVD may be in a wee bit better position than a buyer looking in on the outside to foresee some potential bottlenecks in the resale transaction business. For example, before deciding to ROFR, DVD may be able to check its database and discover whether the deed really has all the points alleged by the seller. But when DVD decides to ROFR a resale transaction, how would it know if the seller will submit its paperwork in a timely fashion? How would it know if the husband and wife, who jointly own the deed, are going through a messy divorce and neither is willing to help the other in selling the deed? Or how would it know that the seller won't change their mind before it gets to closing?

The vast majority of resale transactions are processed in a timely fashion, but even DVD can encounter delays in the resale process.
__________________
wdrl 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 12:04 AM.

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

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