Impatient buyer - how long to get the contract after ROFR?

[zeferjen]

Hi All - Using Fidelity to buy an SSR contract. We passed ROFR last week. I have now waited a week for estoppels and heard back last night that they are all set. Rachel says that she has given the title company the approval to issue the contracts. I requested that they be sent via email to speed things up.

How much longer to get the darn contracts? I have been refreshing email like a madwoman.

Any BTDT?

 

[pchivvy]

Hi All - Using Fidelity to buy an SSR contract. We passed ROFR last week. I have now waited a week for estoppels and heard back last night that they are all set. Rachel says that she has given the title company the approval to issue the contracts. I requested that they be sent via email to speed things up.

How much longer to get the darn contracts? I have been refreshing email like a madwoman.

Any BTDT?

Hi,
I think I only waited a day and then I had the email enclosing all the documents for closing and the money transfer details. I sent them all back within 24 hours but it has all gone very quiet, and apparently the sellers have not yet returned their paperwork. Do they not realise the stress that I am under lol!

 

[kaytieedid]

I got the contract quickly and overnighted my check. They received it on Friday 1/20. Still haven't closed b/c the sellers sent back the paperwork and it wasn't notarized. Going on 3 weeks and we still aren't closed. I never thought it would take this long.

 

[zeferjen]

Omg! That is terrible for both of you! I am hoping for some pixie dust for us all.

 

[Sandisw]

I used a different company but it took about 2 weeks to get my contracts from passing ROFR.

It was another few weeks after that to get the seller to return the paperwork because he was selling multiple contracts and waited until all of them passed ROFR and he got the documents so he could go to a notary just once.

 

[zeferjen]

We got the closing documents this AM. Already sent them back via FedEx. Fervently hoping that the seller turns them around quickly as well. This is really a nail-biting process.

 

[nifferearly]

I'm in the same boat, trying to close on a Fidelity contract. I am not impressed with their title company. Timeshare Store's title co. emailed me the docs 36 hrs after we passed ROFR and I was in Disney's system about 10 days later. On my Fidelity contract, I passed ROFR on 1/31 and just got the closing docs emailed to me today. I noticed that one of my forms from them was time/date stamped the morning of 2/6. It's frustrating because I need to get a reservation booked. Hopefully my sellers are motivated and return their paperwork quickly!

 

[zeferjen]

I'm in the same boat, trying to close on a Fidelity contract. I am not impressed with their title company. Timeshare Store's title co. emailed me the docs 36 hrs after we passed ROFR and I was in Disney's system about 10 days later. On my Fidelity contract, I passed ROFR on 1/31 and just got the closing docs emailed to me today. I noticed that one of my forms from them was time/date stamped the morning of 2/6. It's frustrating because I need to get a reservation booked. Hopefully my sellers are motivated and return their paperwork quickly!

Wow, did I write this? One of my docs had a date of 2/3! My sellers turned around the first set of docs in a few hours, so I am really hoping for the same response time with these.

 

[luckyman_apd]

I'm in the same boat, trying to close on a Fidelity contract. I am not impressed with their title company. Timeshare Store's title co. emailed me the docs 36 hrs after we passed ROFR and I was in Disney's system about 10 days later. On my Fidelity contract, I passed ROFR on 1/31 and just got the closing docs emailed to me today. I noticed that one of my forms from them was time/date stamped the morning of 2/6. It's frustrating because I need to get a reservation booked. Hopefully my sellers are motivated and return their paperwork quickly!

I really don't understand why sellers take so long. If it were me selling something (DVC or ANYTHING else for that matter) I want my $ ASAP. They won't get their money if they don't send in the paperwork! Seriously, if they need to sell, then shouldn't they WANT to get their money?

On our contract it has our closing date scheduled for 2/20. IF, and I said IF the sellers return their paperwork in a timely manner, is this a realistic date after passing ROFR today?

 

[Sandisw]

I really don't understand why sellers take so long. If it were me selling something (DVC or ANYTHING else for that matter) I want my $ ASAP. They won't get their money if they don't send in the paperwork! Seriously, if they need to sell, then shouldn't they WANT to get their money?

On our contract it has our closing date scheduled for 2/20. IF, and I said IF the sellers return their paperwork in a timely manner, is this a realistic date after passing ROFR today?

Once the papers are in, it doesn't take very long to close--I believe they can do it within days, if not sooner.

So, if your sellers get the papers done quickly, then yes, it is realistic that you could close by that date. And, sellers have to find a notary and sometimes, it takes coordination. I know when we sold, we had to wait until Saturday to head to the bank because my husband and my work schedules conflicted with the hours at the bank and we both needed to sign. So, we got documents at the beginning of the week and couldn't get them signed until the weekend.

Good luck!

 

[johnsbelt]

Hi,
I think I only waited a day and then I had the email enclosing all the documents for closing and the money transfer details. I sent them all back within 24 hours but it has all gone very quiet, and apparently the sellers have not yet returned their paperwork. Do they not realise the stress that I am under lol!

I guess that I got lucky on my resale. The seller was a little faster than I was (I sent my paperwork after having it 3 days) and the total time from offer to closing was a month! My ROFR was only 7 days (I got the call on labor day in 2010 no less).

To the OP, keep thinking positive thoughts!

John

 

[luckyman_apd]

Once the papers are in, it doesn't take very long to close--I believe they can do it within days, if not sooner.

So, if your sellers get the papers done quickly, then yes, it is realistic that you could close by that date. And, sellers have to find a notary and sometimes, it takes coordination. I know when we sold, we had to wait until Saturday to head to the bank because my husband and my work schedules conflicted with the hours at the bank and we both needed to sign. So, we got documents at the beginning of the week and couldn't get them signed until the weekend.

Good luck!

Thank you very much.

 

[zeferjen]

So! After waiting forever for rofr, then to receive my contract, I sent it back via FedEx next day air for Friday delivery. And then the FedEx plane broke down! Bah. It will get back to the title company tomorrow. Where did I leave my pixie dust??

 

[magicaldisney]

Going through the same problems with Fidelity. Not impressed.....not even a little. I don't think I would use them again.

 

[zeferjen]

Hi - wanted to close the loop on my nail-biting process. Here is our timeline:

12/30: Offer accepted by buyer
1/2: Contract received from Fidelity. Sent back the same day via fax.
1/2: Offer went to ROFR
1/31: Heard that we passed ROFR
2/7: Estoppels received from Disney
2/9: Contract received from First American Title. Sent back next day air via Fedex.
2/10: &*%$#& Fedex airplane broke down with my contract on it.
2/13: Contract received by title company
2/15: Contract closed
2/20: Points in Disney system. Booked first DVC stay!

The process was long, but worth it in the end. The main reason for my stress is that I had a cash reservation booked for March 25-31st that I decided to cancel at the 45 day window and hope that I would be able to rebook using banked 2010 points. Thankfully it all worked out and SSR still has availability for those days. I am also waitlisted for an AKL savannah view

 

[disneynutz]

The average is 60 days from start to finish.

Bill