Discussion in 'Purchasing DVC' started by itutorfortravel, Jan 9, 2014.
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Now I'm dying to know what this originally said. Sigh. Back to work.
How long does it normally take from the time an offer is accepted until a contract is drawn up, signed, and sent to rofr?
Unfortunately sometimes the sellers drag their feet. You do your part quickly but you cannot control the other end and the agent gets caught in the middle. Your friend is lucky that theirs is going quickly. The waiting is the hardest part. Hang in there.
I received confirmation yesterday afternoon that the seller accepted my offer and I provided personal info for the contract last night, but I have not gotten any word today from my agent regarding a contract. I don't understand if that's normal or not...
Just got an email that I should have my contract by tomorrow or Monday. Should there normally be a 2-3 delay in getting the contract after everyone has agreed to the terms of the sale?
It's not long enough to call it unusual but it also can happen much faster. Different brokers definitely operate at different speeds.
Yes, if you are going through Fidelity. They are closed on weekends while the other resellers are open. They do take a little longer than the others with things.
So does the entire process take longer with them? Any idea how long? There are points that are expiring and there's definitely time to use them unless this is going to be a really really long process (to get our acct set up with points)...just feeling a little disappointed bcuz my friend worked with TSS this week and within a day everything was wrapped up and sent to Disney. That's all I have to compare my experience to tho...
I would contact the broker that you are buying through, it's their job to serve you.
I don't think that we can speak for them and things change that may affect your contract.
Is it past the banking deadline for those points? You can ask your agent to ask the seller to bank them for you provided they are not already banked and that it is not past the banking deadline. I assume this would need to be done before they draw up the paperwork for ROFR since it changes the point accounting on the contract.
I don't have any experience with Fidelity but did deal with TTS and even visited their office once. They specialize in DVC and seem to operate very efficiently. I get the impression Fidelity is a smaller operation so perhaps they don't have the support staff there to help the brokers get their paperwork out as quickly so it may not be a fair comparison.
I agree with the PP would said the waiting is the hardest part. I was lucky that I was dealing with a seller who got every bit of paperwork in as fast as we did. But even then, you still have to wait for Disney to give their OK to the deal and that can take up to 30 days.
I've had my fastest experience with Fidelity and way slowest with TTS. But in general I've had the avg 45-60 days experience. In general I believe they all average out but the wait can be difficult. Because fidelity does not staff on weekends it can get held up a day or two but on the ROFR end Disney does them in batches and no absolute fixed amount of time per contract other than you should hear within 30 days so it may or may not make even a single days difference if the contract were to be submitted tomorrow or on Tue or Wed.
Just so you know, if it is Fidelity and you don't get the contract tomorrow, then that's it for the weekend. They close. I bought two contracts via Fidelity in 2012 and I had the contracts within a day or two of coming to an agreement with the seller. I believe that trimmed back some of Evy's support staff and it's now taking 5-7 days to get a contract. Just call tomorrow to see where you stand.
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