Anyone made it through (or not made it through) ROFR recently? - Section IV

[lowe@massed.net]

Thanks I called on that 50 pt okw june use year this am and it was already gone!

Oh darn! Sorry! I hope you find something soon.

 

[JWG]

Update on our 50 pt BLT, August use year...

3/18 - Sign contract
3/19 - Submitted for ROFR
4/11 - Passes ROFR
4/22 - Receive closing Docs, sign and get cashier's check
4/23 - Sending check via priority and certified mail
5/08 - Close
5/18 - Points available

Exactly 2 months start to finish.
Hoping to make a reservation tomorrow.

Nice to be done with the process and have my extra points .
Very smooth process given the timeframe we were in and the closing delays other were facing.

 

[suebeelin]

How do you know when you close? i just transferred the wire to TS&more on Monday, and they have not gotten back to me to say they recieved the money. It is a lot of money.

No one gets back to you. After I gave them my $500 deposit almost 2 months ago, I called the broker and emailed repeatedly for 3 weeks. Then I called my cc company to have that amount withdrawn b/c I never heard from anyone. That's when I finally got a response, but only from TS&more!! So how do you know they are doing their job????

I had a pretty severe accident only 4 weeks ago, and got out of the hospital only 2 weeks ago. I am dealing with the aftereffects, PT and other issues as a result of the accident. I don't really need this and even thought about not purchasing b/c it has been such a hassle and my health should be my priority. This process has been really furthering stressing me out!

Any advice? How do you know when you close, or when the points show up? I'll list details when it's all said and done b/c I don't want to jump the gun!!

 

[skierrob]

Suebeelin,

When I purchased my first 30 point contract, it was through DVC By Resale and they used Timeshare Title and More.

Once I entered closing, I sent my check to Timeshare Title and More via Certified Mail. To validate that they received it, I tracked my package with USPS online and once it said "delivered" I called Timeshare Title and More (their phone number is on their website) and asked if they got my check. The staff over there were VERY responsive and let me know that everything was ok and gave me all the information I needed.

Note that their phone hours are 8:30 am to 4:30 pm Eastern time.

While I didn't get update phone calls from them, I did call them back after about 2 weeks "just to check in and see how it's going". Again, they gave me prompt, courteous service.

I do believe that your broker probably has NO information at this point and that only Timeshare Title and More can provide you with an update of where you are at with closing. They'll be able to tell you if they have submitted the closing documents to the County, or if Disney is working on the contract, etc.

So give Timeshare Title and More a call and ask them what's going on. I'd post the phone number here but I'm not sure if they want their number posted on here, so I'll just say that their phone number is pretty prominently displayed on their website.

btw -- if they say that they have sent the contract to Disney, you can call Member Services and see if your membership is showing yet. Generally it takes about 2 weeks everything to get set up in Disney's system once the closing company sends the paperwork to Disney. And then you can make reservations on the phone with them right away even though it will take another month or two before you see your membership card come in the mail!

I'm sorry to hear about all the problems you are having. I'd tell you to cancel if you didn't think this was working out for you, but I'm personally not sure how much money you would lose at this stage.

Good luck and enjoy your DVC purchase once it finally goes through!!!!!!!

 

[JWG]

suebeelin

I had the same closing and title company as you. I also sent the check certified mail so I knew when they got it. Once they had it I followed with them to be sure. Then, two weeks or so from then I called the title company to follow-up.

They're working, they just don't offer updates without your prompting. Also, it appears whoever makes the noise gets moved through a little faster.

This type of real estate transaction is definitely handled differently than the normal.

 

[suebeelin]

I called TS&more and they were very nice... and explained the situation and next steps. So, therefore, my broker is to blame for the 3 week gap and no contact after the deposit! Alas, that is just life, then. My accident happened a week after talking to TS&more and getting the deposit re-issued. Then I was out of commission for another 2-3 weeks (I was not functional for much of the 9 days in the hospital/ICU). Nevertheless, we want to go through with this and live our normal life!

I'm excited for this to go through. Finally. It has been since early March, so it's about time!

 

[dbs1228]

I called TS&more and they were very nice... and explained the situation and next steps. So, therefore, my broker is to blame for the 3 week gap and no contact after the deposit! Alas, that is just life, then. My accident happened a week after talking to TS&more and getting the deposit re-issued. Then I was out of commission for another 2-3 weeks (I was not functional for much of the 9 days in the hospital/ICU). Nevertheless, we want to go through with this and live our normal life!

I'm excited for this to go through. Finally. It has been since early March, so it's about time!

Hopefully smooth sailing from here on in! Congrats on you purchase, it can be frustrating but it will be done before you know it! Feel better.

 

[erikawolf2004]

We had our offer of $60 on 100 points for BWV accepted today, us paying closing and seller paying MF, all '10, '11 points available.

Thanks everyone for all the great info on here and keeping this post going.

Erika

 

[Joey7295]

Add me to this list. I made an offer that was accepted on 3/21 but it was just submitted to ROFR yesterday 4/11.

BWV September UY 170 pts, $50 per point. 65 pts 2009, 170 pts 2010, 170 pts 2011

I received an email on Wednesday stating that I passed on 4/29. This was after I emailed them because I was wondering what was going on. I also received my documents yesterday. I will say I got good deals through Fidelity, but the process is taking too long.

 

[dismagiclover]

I received an email on Wednesday stating that I passed on 4/29. This was after I emailed them because I was wondering what was going on. I also received my documents yesterday. I will say I got good deals through Fidelity, but the process is taking too long.

This gives me hope I may get my docs soon. I'm going through Fidelity and passed ROFR on 4/24. I e-mailed last week and they said I should get my docs within 2 weeks. They still seemed quite backed up. The first time we bought I think it only took a few days to get closing docs.

 

[mikeandkarla]

Purchased a contract through Fidelity. Submitted 3/17, accepted and sent to Disney for rofr 3/18, passed rofr 4/16, received and sent back closing docs 5/18. Now waiting for closing and to be put in DVC's system. Who knows how long that will take.

 

[MaryD73]

We finally had an offer accepted. This is the third contract we have bid on.

150 BWV (Apr) $52, 134 '11 pts & all '12 pts, buyer pays closing, buyer and seller split mf

Contracts are being signed as we speak. Next step ROFR.

 

[RugbyJimmy]

Good for you, Mary. I was offered that exact contract yesterday. Went home to talk to my wife about it. Called today...gone...to you.

$52 a point is awesome. Why is BWV so cheap now?

 

[erikawolf2004]

Good for you, Mary. I was offered that exact contract yesterday. Went home to talk to my wife about it. Called today...gone...to you.

$52 a point is awesome. Why is BWV so cheap now?

Fidelity has several...go check and see if any fit your needs.

 

[Dawn16]

So, here's our time frame on our recent BWV add on:

2/23 signed contract
2/25 sent for ROFR
3/22 passed ROFR
4/23 rec'd closing docs
5/7 closed (had been scheduled for 4/29)
5/18 contract showed up on MS site

Close to 3 months from start to finish. And that's with us and the sellers returning all paperwork in a timely fashion. Hopefully you more recent buyers will see things speed up a bit now that the big rush is over.

 

[MaryD73]

Good for you, Mary. I was offered that exact contract yesterday. Went home to talk to my wife about it. Called today...gone...to you.

$52 a point is awesome. Why is BWV so cheap now?

Wow! Sorry about that.

That was the second Fidelity contract we had bid on. The other was with another company. We really were just going down the list. There are just so many right now that we would just walk away if we didn't like where it was headed. I think you are just seeing the effects of supply and demand.

 

[RugbyJimmy]

Wow! Sorry about that.

That was the second Fidelity contract we had bid on. The other was with another company. We really were just going down the list. There are just so many right now that we would just walk away if we didn't like where it was headed. I think you are just seeing the effects of supply and demand.

There is no need to apologize. I am glad that you snagged it. I was going back and forth between that one and another. I might have my lock on one though. We shall see. As you said, with so much supply I am simply waiting for the right one.

 

[emilymad]

We had our offer accepted this week! Contracts are in the process of being signed. We are so excited!

100 SSR (Dec) $50, all '11 pts & all '12 pts, buyer pays closing, buyer and seller split mf

 

[3girlsfun]

We closed on 5/19. I'll update again once we are loaded into the system so we have the final time line.

 

[Buckeye Fan]

...Why is BWV so cheap now?

I have thought for quite some time now that Disney controls the prices. If Disney buys back like they were a few years ago, prices stayed high. Now that Disney has mostly stopped, buyers are negotiating whatever sellers are willing to accept and rolling the dice with passing ROFR through Disney. BWV was one that was pretty high for a while, but now it's right down there with the rest of the resorts.

The other thing that is starting to impact resale purchases is the 2042 expiration dates. As contracts age and the expiration date creeps up, the 2042 resorts are just going to naturally sell for less (generally speaking). BCV may be the exception, because it's a small resort and Disney has been buying back some of the lower offers.

Keep your eye out, as I know Fidelity had a few 150 pt contracts with decent prices. I'd call the 3 or 4 major brokers, tell them exactly what you want and what you're willing to pay for it, and see what they negotiate. Also, don't forget that maintenance fees and closing costs are all negotiable as well.

Good luck!