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Sellers slow to return closing docs

Discussion in 'Purchasing DVC' started by lawgator, Mar 19, 2014.

  1. lawgator

    lawgator Pixie Dust Catcher

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    It has been 9 days since we were emailed our closing docs on a small resale contract add on. We immediately got a cashier's check, signed our docs and returned them. However, the title company says the sellers still haven't sent in their signed notarized deed and docs. Getting anxious. Has anyone else had this happen to them? This is worse than waiting for ROFR! Tried emailing the broker to ask him to email the sellers to check on things, but he's out of town until Friday afternoon. Have 7 days left that we are supposed to close by according to our paperwork. Arrrgh. :scared:
     
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  3. lawgator

    lawgator Pixie Dust Catcher

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    I was able to reach a different agent than the one we are using in the office that we were dealing with who was kind enough to call the seller today and reached him on his cell. He said he was "on his way" to the post office just now with the notarized deed. Feel much less anxious now. Thanks for letting me vent here.
     
  4. auralia

    auralia DIS Veteran

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    Mine waited 3 weeks... And the contract had 100 pts in holding status that had to be used by June.... They didn't get the paperwork in until April (it could have been in in march) I figure either they were trying to prevent us from using the points (they paid mfs on them) or they were sad to loose the contract and it made them drag their feet. We did get to use the points though. Split stay ssr, akl, board walk!
     
  5. disneynutz

    disneynutz DIS Veteran DIS Lifetime Sponsor

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    No way to know if the sellers are going to be slow with their docs, if they are on vacation, or even what country they are in.

    :earsboy: Bill
     
  6. ponyboy

    ponyboy Gun slingin DW lover

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    Everybody works on different time schedules and has different levels of busy. I see it all of the time in my business. Some people are in a rush to get everything done and other people don't get in a hurry to do anything.
     
  7. hardis5

    hardis5 Mouseketeer

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    As pp's have said, many reasons for delays from the other side. Rather than your broker, contact the closing company directly. I only dealt with and pressed them when closing.
     
  8. YoMickey

    YoMickey Mouseketeer DVC Gold

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    We were given the same line of crap. I will call and ask for the tracking number in the am if they haven't. Contacted me by noon. We've already taken 2-3 week longer than our last resale purchase.

    Who the he$$ is earning interest on the check I sent.......???
     
  9. one eye green guy

    one eye green guy Earning My Ears

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    Still waiting.
     
  10. one eye green guy

    one eye green guy Earning My Ears

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  11. sndral

    sndral DIS Veteran

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    Mine took awhile, as well, my sellers weren't pocketing any cash - just paying off their loan and the commission, and they were divorcing and lived in different states. As we approached the close by date I called the broker and threatened (in a nice way) to start the whole thing over w/ a new contract and that lit a fire under the sellers and they got their notarized doc.s in shortly thereafter.
    Something about having all that cash sitting there w/ the closing co. just waiting for the sellers to get their act together caused me far more angst than waiting for ROFR, I even had visions of them reconciling and changing their minds about selling.
     
  12. maggiegirl

    maggiegirl Mouseketeer

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    We are in the same box... Sort of, our sellers are travelling title company received our paperwork and cash on March 27th and we dont anticipate they returning closing docs until first week of May!
     
  13. one eye green guy

    one eye green guy Earning My Ears

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    Title company tried to contact sellers. no response back yet. Mayb soon by end of week will get a answer.
     
  14. fmer55

    fmer55 DIS Veteran

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    I just finished selling for the first time, it is a PITA to be the seller. 4-5 documents need to be notarized, your deed needs 2 witnesses, if married you must find the time to both be with a notary at the same time, or make time in your work day.

    Of course you want your points, but until you have sold you don't realize how much more work it is, as opposed to sigining your name and sending a check.

    Hopefully none of you ever need to sell for other reasons then just reorganizing your vacation portfolio.
     
  15. Pumbas

    Pumbas Mouseketeer

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    Thank you for sharing. It is nice to see both sides of the picture. I was getting nervous because we missed our closing date that was on the contract. I paid extra to get my docs & check to the title company on time. The title company seemed behind and blamed it on Disney. I think they were both to blame. Now the delay is being blamed on the seller. After the sellers docs are returned I need to wait for a new closing date. This process has taken so long, my offer was accepted back in February. I had hoped to be able to make reservations for this November the reservation window is now open and booking . I am discouraged.
     
  16. fmer55

    fmer55 DIS Veteran

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    There is no real closing date. They wait for everything to be in and then they close the file and alert Disney. Don't beat yourself up about any dates, when everything is in you will close the next day and be on to your next round of waiting......
     
  17. maggiegirl

    maggiegirl Mouseketeer

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    Reservations in November! I think you still have time, I am waiting for my contracts to close and hoping to get a ressie for the end of June!
     
  18. one eye green guy

    one eye green guy Earning My Ears

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    Thank you for sharing. In the same situation. Still waiting. It has been a long process since Contract was submitted. Hope sellers will send docs soon. Getting anxious
     
  19. ILDisneyfan

    ILDisneyfan Earning My Ears

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    I feel your pain, we are on pretty much the same timeline. We had planned on making reservations in November too (our stay is during the Wine and Dine 1/2, which I heard books up fast). Since the process was taking so long (offer accepted Feb 11, just closed April 15), when it was close to the 7 month booking window and we still hadn't closed, I went ahead and rented points for our stay. I really didn't want to spend that money since I had just sent the check for our closing, but it cut down on the stress of worrying about not getting the room/resort we wanted. It may be worth considering being a renter if you're worried. Plus you can always turn around and rent out your own points when you get them if you have no other trips planned. But I agree, it's very frustrating.
     
  20. MagicKingdomMommy80

    MagicKingdomMommy80 Earning My Ears

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    Has your deed been recorded yet? I was told we closed on the 15th too but I don't see any records on the comptroller website. I thought is was recorded same day most of the time. I don't even see the ROFR notice. Should I be worried?!?!
     
  21. ILDisneyfan

    ILDisneyfan Earning My Ears

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    Yes, ours was recorded, I found both the deed and the ROFR waiver on the website. If you check again and don't see it, maybe send your title company an e-mail?

    Now for the next round of waiting to get our member number and login... sigh. This process has really tested my patience.
     

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