How long do I wait?

Discussion in 'Purchasing DVC' started by Disneymagicforme, Dec 7, 2012.

  1. Disneymagicforme

    Disneymagicforme Earning My Ears

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    We are in the process of closing 400pts for SSR. We are through ROFR and overnighted our final payment and closing contracts on Nov 21st. The seller has not yet sent in their signed/notarized contract. I just found out they are in Canada and finding a Notary isn't simple. How long do they have to send it in? The closing agent gave them until Dec 2nd. It's now Dec 9th. Do I have any options?:confused3
     
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  3. DizBub

    DizBub Totally Addicted

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    So sorry this is happening to you. All you can do is wait or cancel. Under the circumstances try to be patient and hopefully things will go smoothly.

    Something similar happened to us and we ended up cancelling but our sellers just quit communicating with the broker. Very frustrating.

    Hang in there and best of luck!
     
  4. cvjw

    cvjw DIS Veteran

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    Same thing happened to us. We ended up cancelling the contract. I know how frustrating the situation is, but you have no control over when the sellers send in their paperwork. You can either tough it out, or cancel - neither of which are great choices for you at the moment - I remember how it felt.
     
  5. Disneymagicforme

    Disneymagicforme Earning My Ears

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    We are so looking forward to booking our first trip! I guess I'll wait until next week and see what happens. . . I hope we don't have to start over.
     
  6. mort1331

    mort1331 Mouseketeer

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    I am from Canada, there are notaries on every corner. Its called a lawyer, if its taking that long, i would call the agent and ask whats up
    ps not sure where your from, but its only the 7th here, same calender, i think. Give yours a look, maybe that they had till the 12th?
     
  7. Mike2023

    Mike2023 DIS Veteran

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    Not sure were in Canada they are from but if its a city then there are loads of places to get a document notarized.
     
  8. myxdvz

    myxdvz DVC - BLT

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    from reading around in the other threads, they have to get it notarized in the US Embassy or something.
     
  9. Lizard Valley

    Lizard Valley Mouseketeer

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    Same here...my sellers received their documents on Nov 9th; the documents were received this morning dec 7th (4 weeks...). They were in the UK.

    Read your contract. Mine said that it needed to close within 95 days from the date of execution (when both parties have signed the first set of documents).

    I'm also in Canada; yes we have notaries/lawyers all over the place. But Disney only accepts US authorized notaries. For us, that means either getting an appointment at the US embassy, or driving to the states.
     
  10. Disneymagicforme

    Disneymagicforme Earning My Ears

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    Sorry my dates were messed up, I was looking at Dec 2011, not 2012. The closing agent requested the docs back by Nov 30. She called me on Tuesday Dec. 4th and said she had a email from the sellers that said they were sending the contracts in. So far, no contracts.
     
  11. Disneymagicforme

    Disneymagicforme Earning My Ears

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    Yes, my contract says 95 days too. I guess I'm waiting. Glad you finally received yours!
     
  12. rmcildw2m

    rmcildw2m DIS Veteran

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    thats a lott of points ,hope things work out for you .
     
  13. mort1331

    mort1331 Mouseketeer

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    only a US authorized? For some that may not be worth the drive or wait, if there not close to the boarder or one of the big cities where theres an embassy. Doesnt sound right, but I dont have to sell yet. But I am buying, hope the same isnt true. There must be some lawyers in town that have some cred on both sides?
     
  14. Dean

    Dean DIS Veteran<br><a href="http://www.wdwinfo.com/dis

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    That's for direct purchases and does not pertain directly to resale purchases. I haven't heard that the state has a US notary requirement for the deed and I'd bet the closing company doesn't have that requirement. Even Disney has waived this requirement at least once that was reported here on this board.
     
  15. Lizard Valley

    Lizard Valley Mouseketeer

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    Just to clarify, I understood that the OP's sellers were in Canada. All sellers need to get their closing documents notarized by a US-authorized notary.

    What you're saying is correct with regards to foreign buyers when working directly with Disney.
     
  16. Disneymagicforme

    Disneymagicforme Earning My Ears

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    Unfortunately, the sellers are in Canada.
     
  17. Dean

    Dean DIS Veteran<br><a href="http://www.wdwinfo.com/dis

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    I haven't bought or sold outside the country but why would there be a requirement for a US notary. Your statement was "Disney only accepts US authorized notaries". This is not a Disney question but rather a State of Florida and County question as it pertains to the deed plus any requirements the closing company themselves might have. I see no requirement on the OC website for a US notary. If the country records it and it's done correctly under FL law, Disney will have no choice to be accept it.

    I found this on a website
    If you have additional info please enlighten me, honestly, I just want the correct info to be presented.
     
  18. Lizard Valley

    Lizard Valley Mouseketeer

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    When I started seriously shopping around for a resale contract, I also researched the implications if I were to decide to sell my DVC later.

    Unfortunately, I can't remember which post I got it from, but it was a Canadian seller who had his documents returned because he used a Canadian notary and not a US one. There were also threads from Canadian DVC'ers discussing the easiest way to get their documents signed - many just did day trips to the US.

    I'll look for them again. But if what you are saying is correct, that would be much easier. I too would like to have accurate information.

    To OP - did the closing company specifically tell you that your sellers were having a hard time finding an appropriate notary because they were in Canada?

    In any case, I feel your pain. The extra wait seems endless...
     
  19. Disneymagicforme

    Disneymagicforme Earning My Ears

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    I was talking to the closing agent on the phone and asked if the seller had sent the contracts back in yet. She said "no", then said something along the lines of ...oh, I see the sellers are in Canada. I'd better give them a call in case they're having problems.

    It didn't seem like it was as easy as if they were in the US.
     

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