Anxious, sad and raging - resale is not for me.

[sndral]

This is the contract that went to ROFR on 4/20, so 37-40 days ago right? I just took a quick look at the closing thread, https://www.disboards.com/threads/closing-time.3392820/page-468 it appears most contracts are taking about three months give or take, so by that metric OP is ahead of most time wise. The sellers legally have until the closing date in the contract to get their papers notarized & back to the title company, so that’s worst case scenario.
My first resale had divorcing sellers living in different states - I only knew that because when we started to push up against our closing date & they still hadn’t sent all the docs back the agent told me what the hang up was. I ‘lost‘ 160 unbanked points, but my offer assumed I might not get those points anyway even though if we’d closed in a ‘normal’ time frame I would have had them a month before they expired so I couldn’t get too upset about it since I knew when they expired when I offered on the contract. And I’ve enjoyed the heck out of that contract in the years since I bought it!
My second resale contract had international sellers and they opted to use the Queen’s mail to return the docs which added about 10 days, but was still much quicker than my first.
Some sellers owe money on their contracts and even have to bring money to the table to close - so that’s always a potential hang up. Others have things like an illness or other issues which may add time. You just don’t know and I’d not impute malice to sellers just because they don’t act as fast as I’d like.

 

[bakerworld]

We've bought 4 contracts between 2008 thru 2018 direct - don't think we could handle resale. I like the 'idea' of resale but it just seems so 'elastic'. I will admit that last contract at 225/pt was hard to swallow. The better half would like to buy more but .... The additional nice part of buying direct is that even though you are past the banking window, Member Services will bank them for you.

 

[cvjw]

What if your wealthy sellers who look at 50K as beans had a death in the family. Or have covid. Or have another serious illness and that is why they couldn’t get their paperwork in fast enough for you?

 

[RoseGold]

What if your wealthy sellers who look at 50K as beans had a death in the family. Or have covid. Or have another serious illness and that is why they couldn’t get their paperwork in fast enough for you?

Or the wealthy sellers might be in the middle of a nasty divorce, or having to move money around to come up with the money to bring to the table, or approve it with the bankruptcy trustee or a million other reasons.

 

[ILoveMyDVC]

I asked my sellers and had them write it in the contract to bank the points? Have no idea if that would be a viable idea for you

They are 2019 points banked into 2020.

 

[gisele2]

A big hug

 

[princesscinderella]

they get their documents in this week so things can move forward for you. I had international sellers and it took about 10 days for them to get the documents back due to the notary requirement. My question is how do you know they have a million dollar house? Google stalking?

 

[BayGirl22]

Or the wealthy sellers might be in the middle of a nasty divorce, or having to move money around to come up with the money to bring to the table, or approve it with the bankruptcy trustee or a million other reasons.

Right. The claim they are wealthy and $50k is beans to them seems like a jump anyway - how can OP possibly know that?
We know our sellers name and address from the closing docs, and I guess I could Google it if I cared, but just owning a million dollar house means nothing in many places. In many states buying into the market in your 20's means your housing value is easily over a million by the time you're in your 50's or 60's and selling a DVC contract. Seems like there's a lot of jumping to conclusions here. There are a million reasons its taking time to sign papers - just business travel could cause a delay.

I agree the resale process is not for those who need points urgently. It takes patience and perspective or you'll make yourself crazy.

We wired funds, but I did it online through my bank at night. We did have to get our papers notarized and FedEx them (Hawaii) but other than that I'm not clear what the burden is in signing paperwork and sending it back that would require work time?