Resale - when do you pay?

Discussion in 'Purchasing DVC' started by MJ6987, Jun 28, 2014.

  1. MJ6987

    MJ6987 DIS Veteran

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    Hi,
    We are currently in the process of buying into DVC for the first time (100 points at BWV). It went to Disney for ROFR a week ago (22/6). Assuming it passes, when approximately will I need to pay? Just that I need to get the money out of savings. Thanks. :)
     
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  3. disneynutz

    disneynutz DIS Veteran DIS Lifetime Sponsor

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    Contact your broker and ask them. Different brokers may have different payment terms.

    :earsboy: Bill
     
  4. MJ6987

    MJ6987 DIS Veteran

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    It's the Timeshare Store
     
  5. han22735

    han22735 Mouseketeer

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    I used them as well recently. I had to send the check when I got the closing docs. So you're probably going to pay in about 45 days at the earliest.
     
  6. MJ6987

    MJ6987 DIS Veteran

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    Thanks
     
  7. Msmithmd

    Msmithmd DIS Veteran

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    I waited to move the money from savings until the day we heard it passed ROFR. No reason to do it any sooner.

    When they send the closing paperwork out, your inclination as a buyer will be to hurry. The seller won't feel the same, and the sellers' forms have to be notarized.

    So you easily have a week, even after you hear that you pass, before the funds' move needs to be complete. Also, the closing agency usually wants a cashiers check- which your bank may well be able to withdraw against your savings account directly in any case.
     
  8. wildforgoofy

    wildforgoofy Mouseketeer

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    Exactly what we did.
     
  9. Best Aunt

    Best Aunt "That's the best-est present ever!"

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    I'm currently selling through TSS. It took 30 days for Disney to waive ROFR. Then the title company had to wait for Disney to send them info about my contract, before they could prepare the closing documents. The closing documents arrived by e-mail 13 days after we were notified that Disney passed ROFR. As PP said, you're told to send a check when you get the closing documents.
     
  10. LisaS

    LisaS DIS Veteran

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    It depends on the seller. We received our closing docs on a Friday. The closing company received our signed copies the following Tuesday. The sellers paperwork had already arrived by that time! We closed on Wednesday.
     
  11. judydvc

    judydvc DVC veteran

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    When I sold I set my docs right back. Even though I was sad to say goodbye to my points.
     

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