Closing delay

Discussion in 'Purchasing DVC' started by Msmithmd, Oct 15, 2012.

  1. Msmithmd

    Msmithmd DIS Veteran

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    So here's an interesting twist. We are ten days after closing contract was received. Had sent ours with the certified check back to title company, the day after we received. Knowing advice from these boards, we expected the seller to take somewhat longer. This morning (day ten) I decided to check in with the title company, and they advised they still hadn't received the sellers packet. I called the broker, who called the seller, and found out they "hadn't noticed the email" of the closing packet ten days ago. They apologized and promised to get it done tomorrow.

    So moral of story- stay "on it" on the resales. You don't want to be "that guy" who is harassing the broker. But if I hadn't called today, apparently my contract would still be delayed indefinitely. Wish me luck from here on out, but it sounds like things will finally proceed.
     
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  3. disneynutz

    disneynutz DIS Veteran DIS Lifetime Sponsor

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    Buyers can't wait to get in the system and make their first reservation.

    Sellers have trouble letting go, we are hoarders by nature. :goodvibes

    :earsboy: Bill
     
  4. cocoabio

    cocoabio Earning My Ears

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    Same thing happens to me. I sent in closing doc and wired final payment in last Tuesday, but until now i haven't heard back from seller. How far am I from now to the end of this process?
     
  5. kkmousealow

    kkmousealow Earning My Ears

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    I'm waiting for my sellers to send in their closing paperwork as well. I know I am more anxious than they are - but I would also think that they would want their $$$$$$ !!!!
     
  6. Firepath

    Firepath Mouseketeer

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    Does anyone know what happens if the seller doesn't submit their paperwork by the closing date?
     
  7. cz4ever

    cz4ever Imagineer-in-training

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    It depends on what, if anything, is written in the contract. There can be no closing without signed and notarized documents from the seller. The contract may have a clause that provides for an opportunity for you to walk away from the contract and get your deposit back, or may provide for you a means to get the sellers to pay a penalty, or it might not. It all depends on what the contract that you both signed says.
     
  8. revrob

    revrob Guest

    I've had the exact opposite problem. I'm a seller. My documents were in before the closing date. The buyer has said that they sent the paperwork and payment almost a month ago and that is supposedly "held up in customs" (the buyers are Canadian, I am American).
    We are now 10 days post closing date, and still have not received word that the closing has occurred.
    I'm getting antsy.
     
  9. cocoabio

    cocoabio Earning My Ears

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    I emailed my broker on 10/16 and she was able to contact the seller. Seller sent close doc on 10/17. Hope mine will be closed soon.
     
  10. Lizard Valley

    Lizard Valley Mouseketeer

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    I myself am Canadian, and I have to say that this sounds a little fishy...

    The buyers are sending what is essentially a letter to the USA. I don't see anything that would warrant a U.S. customs delay. Further, I would hope that they would have Fedexed the documents and cheques. Even better, wire transfer the money and fax (then mail) documents.

    I did read another post where the buyer's certified cheque got lost in the mail...(another reason to wire money!). I would look into this further...Good luck!
     
  11. WILDERNESS FAN 55

    WILDERNESS FAN 55 CANNOT GET ENOUGH

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    Has anyone had this happen to them ? I called DVC MS to see where I was at in the system. My paperwork had been sent to them on the 10th. Was hoping they'd give me my info over phone.Instead they said "oh that contract closed in August" Since I didn't make an offer even until Sep 10 this made me nervous.He then put me on hold came back and told me contracts take 2 weeks to put in system.That would be next week the 24th. A little nervous I later e-mailed them about it and was told in closed in August.Did I have right contract # .I do and replied but they went home!!!! That leaves me the whole weekend wondering what's going on unless someone here can ease my mind. Thanks!
     
  12. Firepath

    Firepath Mouseketeer

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    I finally called my broker who called the seller. They finally sent in the paperwork and it closed the same day. Showed up on the OCC website today. Thanks for everyone's help and suggestions!!!:cool1:
     
  13. jennifer in canada

    jennifer in canada Mouseketeer

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    Still patiently waiting here, but growing more impatient :confused3
    Contract was to close Tuesday past, i called thursday and was advised they had gotten the documents from the seller but they were incomplete? (they received my cheque last week) today is saturday....
     
  14. disneynutz

    disneynutz DIS Veteran DIS Lifetime Sponsor

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    Contact your Broker and check with them.

    :earsboy: Bill
     
  15. maburke

    maburke DIS Veteran

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    Here's a guess: When I called last week, they seemed to need to look up the contract by the seller's name. My guess is that your seller had two contracts to sell, and they are looking at the wrong one. In fact, my contracts all have the same number to the left of the decimal, and only differ by the digits to the right. So I don't know how they tell the difference. Make sure you mention the resort and number of points in the inquiry.
     
  16. WILDERNESS FAN 55

    WILDERNESS FAN 55 CANNOT GET ENOUGH

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    Thanks maburke. I think I told the phone guy the name but....Tomorrows monday and I'll know more then I hope!
     
  17. revrob

    revrob Guest

    I got a call from the broker and was told that the buyer wired the money, so hopefully I'll hear tomorrow that we have closed!
     
  18. WILDERNESS FAN 55

    WILDERNESS FAN 55 CANNOT GET ENOUGH

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    Well it turned out that seller had done a title name transfer in August. That was the confusion. Disney got back to me today and said paperwork is done and package sent on Friday.Just a couple more days to sweat the details!Thanks all who tried to talk me off the ledge.
     
  19. disneynutz

    disneynutz DIS Veteran DIS Lifetime Sponsor

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    You don't need to wait for any package, call MS and give them your info. They will give you the info you need over the phone.

    :earsboy: Bill
     
  20. cocoabio

    cocoabio Earning My Ears

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    Finally, my contract is closed today. :cheer2:
     
  21. WILDERNESS FAN 55

    WILDERNESS FAN 55 CANNOT GET ENOUGH

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    They just told me points will be in my account by the time I recv letter ?Maybe they aren't really done yet ??:confused3
     

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