A resale closing timeline (thru Fidelity)

Discussion in 'Purchasing DVC' started by gncntry, Jun 3, 2013.

  1. gncntry

    gncntry Mouseketeer

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    I found it helpful when I was going through the buying process to see other timelines so hopefully someone will find this helpful. This was my 3rd BCV contract but my first time dealing with Fidelity (the first 2 contracts were through TSS).

    200 pt. BCV, March UY, Fidelity

    3/25/2013 - offer made on 200 point, BCV, March UY contract with Fidelity
    3/26/2013 - offer accepted by seller
    4/2/2013 - received contract from Fidelity
    4/5/2013 - faxed documents to Fidelity (delay waiting on Fidelity to answer a question about the contract)
    4/9/2013 - documents sent to Disney for ROFR review
    4/29/2013 – Disney waived ROFR. Fidelity says should receive closing documents from Title company by May 14th.
    5/2/13 - TT Title company. Title company is waiting on Disney to provide estopel. Also waiting on Fidelity to forward paperwork.
    5/6/13 – Sent email to Fidelity contract department asking about paperwork. No response.
    5/8/13 – called title company and asked if they had the paperwork. Title company has to send something to Fidelitiy for approval
    5/9/13 – email from Fidelity saying closing documents were approved.
    5/9/13 – documents and cashier’s check sent overnight to title company.
    5/10/13 – delivery and signature of Express Mail confirmed at 12:53 p.m. by title company.
    5/13/13 – email from title company noting they received the documents.
    5/15/13 – Title company said seller put documents in the mail, 5/13 or 5/15.
    5/20/13 – Asked title company for update. They still haven't received documents from seller?
    5/21/13 – Title company now says seller put amended statement in the mail on 5/21. Expected delivery is 5/23.
    5/24/13 – Notification from title company and Fidelity that we have closed.
    5/29/13 – Orange county shows partial deed closing (workflow in progress)
    6/3/13 - Orange county shows full deed closing and Disney shows points added to account

    so....70 days from initial offering to points in our account.
     
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  3. agie65

    agie65 New Disney Fan DVC Gold

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    I am dealing with fidelity and First American Title Co. they use. First American is awfully slow, it takes 2 weeks just to receive closing document, hello are you sleeping or what? Does not deserve even C- on grading scale
     
  4. collections

    collections Mouseketeer

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    If I add 7 to 9 days to each of your dates, I could have written this.
    I was told by First American that we closed today on my 150 point BCV contract. The contract passed ROFR on 5/6 but I went through all the same delays you did.
    Took 11 days to get closing paperwork, and 28 days from ROFR to closing. I also experienced a delay with the sellers closing paperwork, which First American said was the sellers issue. However, Fidelity told me that First American did not send the closing documents to the sellers correct e-mail address.

    I'll post my full timeline once the points are in my account.
     
  5. gncntry

    gncntry Mouseketeer

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    I agree...it was a lesson in patience dealing with both of companies. I hope things get a bit quicker for you....
     
  6. gncntry

    gncntry Mouseketeer

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    The constant following up with the title company was annoying, worse than following up with Fidelity. It's interesting that the same thing happened to you (seller's paperwork delayed). Makes you wonder if it is just the way they do business. Good luck with the rest of the process!
     
  7. TigBaby

    TigBaby New to DVC

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    I, too, am going through Fidelity. I sent my closing docs back and wired funds on May 10th. On May 29th, I emailed the title company to ask for an update. They told me that the seller had overlooked the email with the closing docs, but would be sending them back that day. So, apparently, the title company would have simply let this go on and on if I hadn't said something. They are not proactively following up, which is extremely disappointing and in my opinion not very professional. I emailed them again this evening to ask if they had yet received the docs from the seller. I'm hoping this closes within the next couple of days.
     
  8. agie65

    agie65 New Disney Fan DVC Gold

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    When I called my closing agent was not available, and never recieved the call back either, even after leaving the massage. On the other hand I had two closing with MVT, TSS uses them, they were right on and closed very fast, also very good on communication.
     
  9. Countryrunner262

    Countryrunner262 Mouseketeer

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    Glad to hear MVT moves quickly. We just passed ROFR Monday with a contract from TSS.
     
  10. networktek

    networktek it all started with a mouse

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    we were in the same boat sent our signed closing doc and wire funds with 48 hours called a week later to find out seller never received closing docs i called i called Fidelity and told sharon to find out what was going on and 24 hours later we closed now just waiting for our DVC pkg
     
  11. TigBaby

    TigBaby New to DVC

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    I received an email this afternoon that the title company had received the documents from the seller and that it would close today. Yeah! At least the closing agent has been extremely responsive to my emails. (I just wish she had been a little more proactive in tracking down the seller.) As long as it did, in fact, close today, then I won't be held up in making my reservations for June 2014. I need a 2 BR at BLT for my baby nephew's first trip to Disney!

    I purchased my first resale contract thru TSS, and it was easy and quick. I would have gone through them again if they would have had a contract I wanted to buy. Sharon at Fidelity was great tho, and things moved ok until we got to the closing.
     
  12. e46m3

    e46m3 Mouseketeer

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    I used tts and first american. It took me 91 days from start to finish. It was the longest 91 days ever.
     
  13. maggiegirl

    maggiegirl Mouseketeer

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    I have an AKV resale going throught First American. Fidelity let us know we passed ROFR on March 11th and still no closing docs. Fidelity team is great at getting back to me but they informed me Disney has been slow with stoppel docs I should be receiving closing docs by end of week next week. This wait is worse than ROFR!!!!!
     
  14. Lorilais_mommie

    Lorilais_mommie " They can drink pepsi, but they can't pee in the

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    Are we able to contact the title company itself..
    I noticed they took the my deposit from the CC, but wanted to know if we went to ROFR yet?
     
  15. maggiegirl

    maggiegirl Mouseketeer

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  16. one eye green guy

    one eye green guy Earning My Ears

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    Passed ROFR March 11th still no closing docs How long does the process take?
     
  17. maggiegirl

    maggiegirl Mouseketeer

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    In the same boat here, let's see who gets it first, this is really eating into my timeline to have this contract closed and posted for late Jun ressie
     
  18. Noelle

    Noelle Kungaloosh!

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    When we passed ROFR, our realtor from Fidelity wrote that it take anywhere from 1 to 2 weeks to get the Estoppels from Disney. Only after that they can draft the closing documents and send them to us. I'm trying to be optimistic that we will get them this week, so it will be on the shorter end of the 1 to 2 week time frame. But if you passed on March 11th, then tomorrow would be your 2 week mark.
     
  19. Carlnne

    Carlnne DIS Veteran

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    Still havent received closing docs either (passed 3/18). Not worried so much about ressies but I did want to purchase APs before the sale ends in April.
     
  20. one eye green guy

    one eye green guy Earning My Ears

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    hope to receive docs by end of week. its the worst part of waiting.
     
  21. one eye green guy

    one eye green guy Earning My Ears

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    Hope to get docs by end of week. Keep in touch.
     

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