Resale Timeline...Updated

Discussion in 'Purchasing DVC' started by MissScarlet, Oct 9, 2009.

  1. MissScarlet

    MissScarlet Mouseketeer

    Joined:
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    108
    We are still in the resale buying process, but wanted to post our timeline, as it seems to be taking a long time. We really wanted a small contract, but now I am wishing we would have bought from Disney. The contract comes with 2008 points which we will need to use asap.

    7/31 Offered the asking price minutes after receiving resale listing email. Received contract later that night.
    8/1 Had to call to get corrected contract as there were typos. Sent out contract and deposit check Fed-Ex priority overnight the same day.
    8/4 Received email that contract and deposit had been received.
    8/8 Received email that contract has been sent to Disney for ROFR.
    8/18 Received email with closing agents info.
    9/1 Received email that Disney waived ROFR.
    9/17 Still had not received closing docs, sent email to closing agent.
    9/18 Received email…Disney was waiting for a document from the seller before they would release estopple. Seller does not remember receiving this document.
    9/24 Received our closing documents by email. Sent them out fed-ex priority overnight with payment the same day.
    9/25 Closing company received our closing docs and payment. (9/25 should have been our closing date according to the contract…)
    9/28 Was notified that closing company lost our documents. Faxed in copy of closing documents. Notified that we are “priority closing”.
    10/8 Still had not heard anything regarding closing, called agent.
    10/9 Notified that seller still has not signed papers. Seller does not remember receiving closing documents. Notified that we are “priority closing”.
     
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  3. backyardponder

    backyardponder DIS Veteran

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    Unfortunately it sounds like the seller isn't motivated. We had the same problem. In our case there was a divorce and it sounded like the parties weren't talking to each other.

    Read your contract. You can probably get out of it based on the amount of time. Talk to the broker you worked with and let him/her know of your issues. Tell the broker you want out if you don't close by a certain date.

    By the way, don't give up on resale...financially it is the best way to go!
     
  4. wdrl

    wdrl DIS Veteran

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    It sounds like you are having a lot of bad luck on your resale contract purchase. It shouldn't take that long, and it shouldn't have so many things go wrong. Of course, my saying that doesn't help your current situation. What resale company and title company are you working with?

    We are in the process of buying an AKV 100-point resale contract through the Timeshare Store. Our closing is being handled by Brenda Smith at Magic Vacation Title. Just to put your situation in perspective, here is our timeline so far:

    09/01/2009

    02:45 PM - Called Scot at TSS and made offer on 100-point AKV at $84/point

    03:26 PM - Scot called and said offer accepted

    04:57 PM - Received TSS email with contract offer to sign

    07:01 PM - Faxed copies of contract offer to TSS

    09/02/2009

    09:45 AM - Mailed signed forms and escrow payment deposit to TSS

    09/03/2009

    02:23 PM - Contract sent to Disney for ROFR

    09/04/2009

    07:54 AM - Received Escrow Form from MVT

    08:31 AM - Faxed Escrow Form to MVT

    11:24 AM - Escrow payment deposit received by TSS

    10/02/2009

    12:41 PM - Disney Waived ROFR

    10/06/2009

    12:10 PM - Received Closing Documents from Magic Title

    02:30 PM - Mailed Final Payment and Documents via Priority Mail

    10/08/2009

    10:50 AM - Magic Title confirmed receipt of Payment & Documents


    Its been 39 days since we started the process, and now we are awaiting the seller to send their closing documents to the title company. Our closing is scheduled for 10/27/09, but Scot at TSS said we might get it done sooner if the seller sends in their documents sooner. Since the seller is wanting to get paid, I know they are motivated for a quick sell.

    Good luck on your closing and I hope you'll be enjoying Disney really soon!
     
  5. disneynutz

    disneynutz DIS Veteran DIS Lifetime Sponsor

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    Buying resale will usually take 45 to 60 days if everyone does their job. Unfortunately we are dealing with people so anything can happen.
     
  6. MissScarlet

    MissScarlet Mouseketeer

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    We just found out that we closed today!
     
  7. TLSnell1981

    TLSnell1981 Tiny bubbles... make me happy... make me feel fine

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    party: :welcome:
     
  8. tlbryant383

    tlbryant383 Earning My Ears

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    I just closed a resale DVC membership - here was my timeline:

    8/25 contacted Garden View Realty (Jaki) with DVC offer
    8/26 offer accepted
    8/27 received closing docs
    9/22 Disney declined ROFR
    10/1 received final docs
    10/15 notification that transfer was completed
     
  9. MissScarlet

    MissScarlet Mouseketeer

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    Just wanted to update!
    We found out that we closed on 10/14. We called everyday to check, and on 10/20 we were in the Disney system. Just called this morning 10/21 to make our first reservation! So excited! 1 night at the VGC in February, and 6 nights at AKV in May.
     
  10. rmonty02

    rmonty02 Mouseketeer

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    CONGRATS & pixiedust:WELCOME HOME!pixiedust:
     
  11. whitfamily

    whitfamily Mouseketeer

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    After a long and frustrating process I am sure you are now breathing a sigh of relief that you don't have to start all over again! Now the excitement begins!! Have a wonderful time in Feb. and May!! :)
     
  12. bobbiwoz

    bobbiwoz I'm happy to dance with you!

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    I'm glad you are finally able to use those point! Have a great time planning those vacations!!!!

    We've sent in the balance on our SSR purchase today. The process was begun on 9/17 and so far, it's all going smoothly.

    Bobbi:goodvibes
     
  13. SpectroMan71

    SpectroMan71 Mouseketeer

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    This is getting scary. I just FedExed my final payment and docs to Title, which they received today, 1/18/13, but I need to make a reservation for 2/23. What are my chances I'll be in the system on time?
     
  14. undchefreak

    undchefreak Mouseketeer

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    As an example, I mailed my final payment to the resale office on 12/17, closed on 1/3, and was able to get my member number and call member services yesterday, 1/17. I got my member number before my card because my assigned "guide" called me and offered assistance. I called member services for my sign in information, and they were able to book a studio (what I wanted) at Saratoga Springs next week. I was pretty excited :dance3:

    It is pretty dependent on your sellers speed. I'm not sure if my sellers were fast or not, but it worked out well for me.
     
  15. lodge

    lodge DIS Veteran

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    Wow! You know the TIMES of each occurance!! I'm lucky if I remember the DAY of the week, let alone the DATE (forget me knowing what time of day it is... I go by "Is the sun up or is it down"!)


    If I could bottle up and sell the feeling I get whenever I read that phrase, I'd be RICH!!!!
     
  16. tiffrobyn

    tiffrobyn Just keep swimming. Just keep swimming. Just keep

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    This is timely, as I just came here to share the timeline on my most recent contract!

    We bought 100 SSR points through Fidelity.

    11/28 Offer accepted
    11/29 Received documents
    11/30 Returned Documents
    12/3 Sent to ROFR
    12/27 Passed ROFR
    1/9 Rec'd closing documents
    1/14 Title company received my documents & payment
    1/16 Contract officially closed
    1/18 Closing documents available to view on Orange County Comptroller site
    1/21 Contract & Points in DVC system
     
  17. mommyarewegoingback

    mommyarewegoingback DIS Veteran

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    I'm really close to your timeline.... I view my closing docs on OCC on 1/17. After I saw you post I called Member Administration, but Amber told me the standard, wait until you get the paperwork. How did you find out about the Points? Did you already have an existing contract?
    -Virginia
     
  18. tiffrobyn

    tiffrobyn Just keep swimming. Just keep swimming. Just keep

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    Yes, I have an existing contract. The new contract info showed up on the website yesterday.
     

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