aggravated with resale process

[keishashadow]

keishashadow, I didn't know there was such a think as expeded closing! Can you tell me roughly how much this is?

wasn't much more as I recall, call you agent (or ask whoever is in the TSS office); glad we had it ordered when it came down to the wire...

we still weren't able to book WL 1st week of Dec. even though we missed it by only a week; waitlist did come thru later though.

 

[RobDoc]

I thought I had heard that Disney would often waive the banking deadlines for people who bought contracts in the middle of their use year. Did you really *want* to use the points by 1/31 (silly question, I know) or was it just that they were expiring? If Disney will let you bank them, maybe it'll relieve a little of your stress.

DVC has been allowing new purchasers to bank points beyond the usual deadlines for purchases made thru DVC. Resale purchasers do not get the same benefit and must abide by the banking deadlines. Some buyers have asked the seller to bank any points possible as part of their offer.

 

[TheRustyScupper]

1) Disney works at its own pace.
2) Disney works in its own time.
3) Purchaser frustration or not.
4) Purchaser time limits or not.
5) Disney only moves faster when economically to their benefit.

 

[crisi]

wasn't much more as I recall, call you agent (or ask whoever is in the TSS office); glad we had it ordered when it came down to the wire...

we still weren't able to book WL 1st week of Dec. even though we missed it by only a week; waitlist did come thru later though.

Do check what expedited closing will get you. What it won't do is make your seller or Disney work any faster. When we closed, what expedited closing got you was overnight delivery of documents - but no "front of the line" pass to ROFR or actually scheduling the close with the closing company. If the delay is going to be on the seller's end throughout your process, there may not be much you or TSS can do except wait. Giving your seller a Fed Ex package may get it to the TSS faster, but that may not do you any good if the seller sits on the package for five days before getting around to getting it into a Fed Ex drop box.

However, I don't recall it being very expensive either and it may be worth the peace of mind to know that its happening as fast as it could.

 

[disneynutz]

1) Disney works at its own pace.
2) Disney works in its own time.
3) Purchaser frustration or not.
4) Purchaser time limits or not.
5) Disney only moves faster when economically to their benefit.

Don't forget that resales are put at the bottom of the pile. They need to do something to convince you to buy direct.

 

[disneykidatheart]

We purchased both of our contracts through resale. If I remember correctly, when the closing papers arrived there was a date on the papers by which the papers were to be returned--that date is one month or thirty days, not sure which from the day the papers were prepared. Of course we were excited and sent a check the same day. The sellers were not in a big hurry and took their time. In one case the contract was being sold from a trust (looked like an estate was being settled) and the two trustees lived in different states. The other contract was also sold from a trust but the sellers just weren't in a hurry. I called each time after a couple weeks and the sellers were nudged along by my broker. Luckily time was not a factor in point usage in either case. Both sales took 6-8 weeks to complete.

 

[Dean]

This will take a couple of months, possibly more. If that negates the value of this contract, cancel now if you can. BTW, many have expressed they paid for the expedited closing and it didn't seem to make much or any difference in how fast things went.

 

[JimMIA]

This will take a couple of months, possibly more. If that negates the value of this contract, cancel now if you can. BTW, many have expressed they paid for the expedited closing and it didn't seem to make much or any difference in how fast things went.

I was told that expedited closing is really just courier service instead of snail mail back and forth with the Orange County offices. I paid $35 for it, expecting it to save me two weeks, and I think it probably did.

If I were in a hurry, I'd research it. But, as someone else posted, expedited closing will not build a fire under your seller. If they're on vacation, or otherwise slow, they're just going to get to it whenever...

 

[DiznEeyore]

DVC has been allowing new purchasers to bank points beyond the usual deadlines for purchases made thru DVC. Resale purchasers do not get the same benefit and must abide by the banking deadlines. Some buyers have asked the seller to bank any points possible as part of their offer.

Per Doc's advice, we had our sellers bank their '07 points for us because it didn't look like we'd close by the banking deadline (thanks, Doc!). We had to do an addendum with our broker, who was given the banking number by the sellers.

Since we were notified we passed ROFR, we waited for Disney to send the final info to the closing company for almost a month, and they finally came through today. In looking over the paperwork, I noticed that they did not show that the points had been banked. A couple of quick calls took care of that, and we had corrected paperwork in our email box within the hour. So, just a note to really, really check over your closing paperwork when you finally get it.

And the letter from the closing company said it may be 7-8weeks until we are in Disney's system. Glad we don't need to book 'til Feb. '08!

So for us, our waiting is pretty much over. We sent back our paperwork and check, and now we're all set!

Hope things speed up for everyone else who's waiting.

 

[javamom]

And the letter from the closing company said it may be 7-8weeks until we are in Disney's system. Glad we don't need to book 'til Feb. '08!

OMFreakingGosh, I hope not. 7-8 weeks after closing?????

 

[JimMIA]

And the letter from the closing company said it may be 7-8weeks until we are in Disney's system. Glad we don't need to book 'til Feb. '08!

You should be "in the system" and able to make ressies within 10 business days of the actual closing date. Our experience (since confirmed by several others) was that our account was "in the system" at about 8 days...but with no points!

It was fine, tho. The points went in the next day. Apparently two seperate functions done by two different parts of the house.

 

[DiznEeyore]

You should be "in the system" and able to make ressies within 10 business days of the actual closing date. Our experience (since confirmed by several others) was that our account was "in the system" at about 8 days...but with no points!

It was fine, tho. The points went in the next day. Apparently two seperate functions done by two different parts of the house.

That seems much more reasonable! Maybe the closing company just puts that into the letter as a worst-case scenario type of thing? I guess I haven't given it much thought because we don't need to make reservations for several months yet.

 

[crisi]

You should be "in the system" and able to make ressies within 10 business days of the actual closing date. Our experience (since confirmed by several others) was that our account was "in the system" at about 8 days...but with no points!

It was fine, tho. The points went in the next day. Apparently two seperate functions done by two different parts of the house.

It does take about two months for the deed to be recorded with the county.

 

[Destination Disney]

The main concern I would have with this whole situation is passing ROFR.

 

[Mickey'sApprentice]

Just a note...

we were in the system a week or more before we got paperwork and member cards from Disney.

Once you know that you are closed, you can check with Disney about 8-10 days afterwards to see if you can book a trip.

We used the other company, "She who shall rename nameless." It worked out great.

 

[Dean]

I was told that expedited closing is really just courier service instead of snail mail back and forth with the Orange County offices. I paid $35 for it, expecting it to save me two weeks, and I think it probably did.

If I were in a hurry, I'd research it. But, as someone else posted, expedited closing will not build a fire under your seller. If they're on vacation, or otherwise slow, they're just going to get to it whenever...

Jim several have posted over the last few years that they didn't feel like it saved them any time. I think the issue is that if you pay a company extra for expedited closing you expect them to make it a priority and save time where they can and not let it sit on their desk till they get to it. Obviously nothing the closing company can do about the seller.

 

[Paddyshack]

I totally sympathize. With resale, the speed of the whole process is so hit-and-miss. My first resale contract with TTS took just 3 weeks between offer and my first ressie with MS. My second current resale (also with TTS) began on July 5 when offer was accepted and I received notification that Disney waived ROFR on July 23 and then nothing! I called and they said that the ball is in Disney's court as to when they can send over the paperwork. So I'm trying to be very patient, trying not to think about the clock ticking on the 2006 banked points...

In my case I passed ROFR on the 07/26 and received closing documents today. It looks like approx a month is about average between ROFR and receipt of closing documents at the moment.

 

[diznyfanatic]

You should be "in the system" and able to make ressies within 10 business days of the actual closing date. Our experience (since confirmed by several others) was that our account was "in the system" at about 8 days...but with no points!

It was fine, tho. The points went in the next day. Apparently two seperate functions done by two different parts of the house.

This was exactly our experience with resale via TTS as well. It's been awhile, but if I recall correctly, TTS told us to call Disney at around the 10th day after closing. We called a couple of days earlier due to the weekend, and we were in the system but no points had been added yet. By the next business day, everything was complete and we could make reservations.

Can't say enough good things about TTS!

Good Luck!

 

[JimMIA]

Jim several have posted over the last few years that they didn't feel like it saved them any time. I think the issue is that if you pay a company extra for expedited closing you expect them to make it a priority and save time where they can and not let it sit on their desk till they get to it.

That's true. Then again, some of those folks might not have known what they were buying either.

We used TTS and TCS. When I asked TCS what "expedited closing" involved, they told me courier rather than snail mail to send the required documents to Orange County. I figured that would cut some time off the process, and I was happy with the results.

Others may have had different results, and they may also have used different companies, or had different expectations for the service than I had.

Incidentally, the reason I was in a hurry is I was up against banking deadlines. As soon as I found out the points were in, I rushed to bank the points...only to learn that the sellers had already banked them for us!

 

[javamom]

Just for point of reference from my earlier post, our closing docs came today. Hang in there. One hurdle at a time I suppose.