Closing document question.

Discussion in 'Purchasing DVC' started by disfanforlife, Apr 18, 2013.

  1. disfanforlife

    disfanforlife DIS Veteran

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    Just received by email tonight. There are 6 pages. But the only page that needs to be notorized is for the seller not for the buyer. Is that correct? Also no where does it say how long the contract is for only that it is 100 points. Is that normal? I thought it would say the end date like 2042for BWv.
     
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  3. z28wiz

    z28wiz DIS Veteran DVC Gold

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    Buyers don't notarize unless there is a loan attached.
     
  4. DisneyDiana

    DisneyDiana DIS Veteran

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    I just got my closing documents on Tuesday. I only signed two of the five papers. Both the Buyers Statement and Confirmation of point Transfer had the number of points listed. One of the other papers had the contract end date.
     
  5. disfanforlife

    disfanforlife DIS Veteran

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    Our also has an occupancy and use compliance paper to sign. None say the end date of the contract.
     
  6. Disneylvr4

    Disneylvr4 Mouseketeer

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    Yes, that is correct. We found it odd too, but since we were paying outright, there was nothing for us to do but sign! :) I don't recall about the end date, I'd have to take a look....
     
  7. disfanforlife

    disfanforlife DIS Veteran

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    I am probably just being my normal worry wart self....
     
  8. JamesA1

    JamesA1 Mouseketeer

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    As a buyer I also did not have to have anything notorized. The end date on both of my resale contracts was stated in the sales contract.
     
  9. PCMama

    PCMama Mouseketeer

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    This is so weird. How dies Disney know you the buyer are who you say you are without the notary? I bought two other timeshares this year and both needed notarized signatures. One even needed me to sign in blue ink.
     
  10. disfanforlife

    disfanforlife DIS Veteran

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    It does say 100 BWV points2013,2014,2015, and all years forward. I am going to call the closing company today to ask about this.
     
  11. Minniesgal

    Minniesgal DIS Veteran

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    That is not true, I think it depends on the closing company. We had to notorize our purchase of AKV in October and we paid with cash.

    However, I am now thinking that may be because we are from outside the USA so there may have been tax reasons for us to have our signatures notarized.
     
  12. Meggysmum

    Meggysmum Mouseketeer

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    We are in the UK and have bought 2 resales and didn't have either of them notarised which is good since getting that done here is a bit of a nuisance and would certainly have dragged out our timeline.
     
  13. Minniesgal

    Minniesgal DIS Veteran

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    I called my agent on this one and he explained that previously when I bought resale AKV the seller was overseas and for some reasons that it why we needed the documents notorized, otherwise we wouldn't have needed to. So buyers can proceed with no notary as long as the seller is based in the USA.
     
  14. disfanforlife

    disfanforlife DIS Veteran

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    I called this morning and he said that everything was in order. He didn't know why it doesn't list the end date of the contract, but it does say all points 2013, 2014, 2015 and forward. And in the original contract when we sent in our deposit it did list the year as 2042. So, I went to the bank and am fedex papers today!!!!
     
  15. quinnc19

    quinnc19 DIS Veteran

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    I just received a contract where the seller is in the UK and I still don't have to get it notarized. Maybe it just varies with the broker and closing company?
     
  16. Novakm

    Novakm Mouseketeer

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    I just closed on one, seller in Scotland. The agreement does not need to be notarized, but there is another form that does. It saves the seller from paying taxes if I'm buying for personal use. If a foreigener sells real estate to a business, there is a special tax. If the closing agent did not send the form, the sellers will pay more taxes.
     

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