Anyone have issues with sellers dragging their feet?

[skyywalker]

Just curious if anyone else had or has issues with the seller dragging their feet? As in, they're taking forever just to turn in the very first set of documents (purchase agreement). What's the appropriate amount of time to give them before moving on to a new contract? Maybe I'm just anxious being it took me all of 15 minutes to print the documents, sign them, scan them, then email them back.

 

[disneynutz]

Happens often, sellers don't really want to sell, it makes them feel like they are stepping down.

Bill

 

[Disney Dad ADL]

Is this the same seller you've been waiting 2 weeks for? If so, I would move on at this point. The paperwork gets more involved when you get into closing, requiring notaries and such. Unless you're getting some sort of screaming deal, just walk away. Both times I have purchased, the seller and I both submitted the initial paperwork the same day we agreed on the offer.

Edit: if you were to ask me how long I would wait for the initial paperwork, maybe 2-3 days unless I really want that specific contract for some reason.

 

[skyywalker]

I walked away from the first seller after two weeks. I'm now on day #4 with a seller from the UK. I can't understand why people list them for sale if they're not serious about selling.

 

[disneynutz]

Sellers not in the US have different requirements and tax laws that may make the transaction more difficult.

Bill

 

[skyywalker]

I was under the impression that they have to go to a US embassy to have the documents notarized to close, but is there some extra paperwork they have to get done just to sign the purchase agreement? At this point I'm just looking forward to getting to ROFR.

 

[KAT4DISNEY]

Best I can say is to consider that while you've been actively looking and now are ready to jump on things that a seller may have had a listing up for awhile. It's hard to say what any will have going on when an offer comes in. They've apparently accepted verbally. Maybe traveling, no access to a printer etc.

 

[skyywalker]

Actually on both of the contracts I submitted was to buy at the asking price. I didn't make an offer on either of them because I felt their asking price was fair. So I'd imagine they just receive an email from the broker and not a phone call? In any case I'll talk to the broker to see if they can phone them just in case the emails are going to their spam folder. I sure hope I don't waste a full month waiting for a seller to sign a purchase agreement.

 

[PSUDinsey]

Actually on both of the contracts I submitted was to buy at the asking price. I didn't make an offer on either of them because I felt their asking price was fair. So I'd imagine they just receive an email from the broker and not a phone call? In any case I'll talk to the broker to see if they can phone them just in case the emails are going to their spam folder. I sure hope I don't waste a full month waiting for a seller to sign a purchase agreement.

I've made three offers now over the past two weeks- the first offer responded first thing in the morning I didn't like their counter and moved on.

Another broker emailed me back immediately but hasn't heard back from the seller.

The 3rd broker sent me the automated response but I have not heard from a real person yet.

 

[CarolMN]

Just curious if anyone else had or has issues with the seller dragging their feet? As in, they're taking forever just to turn in the very first set of documents (purchase agreement). What's the appropriate amount of time to give them before moving on to a new contract? Maybe I'm just anxious being it took me all of 15 minutes to print the documents, sign them, scan them, then email them back.

Since you're not all that far into the process, why not send your broker an email stating that if you don't receive the seller's paperwork (or whatever you need to proceed) within the next (insert 24 hours or 48 or whatever you feel is reasonable), you are withdrawing your offer. Mention that you want things to move along and their tardiness does not bode well for the rest of the process.

Good luck!

 

[supersnoop]

Just curious if anyone else had or has issues with the seller dragging their feet? As in, they're taking forever just to turn in the very first set of documents (purchase agreement). What's the appropriate amount of time to give them before moving on to a new contract? Maybe I'm just anxious being it took me all of 15 minutes to print the documents, sign them, scan them, then email them back.

Every purchase agreement I've signed said that the seller had 10 days to get their side signed and returned. I had one take the full 10 days. Sometimes selling DVC can be an emotional situation, and people are slow to let go.

 

[Disney Dad ADL]

Every purchase agreement I've signed said that the seller had 10 days to get their side signed and returned. I had one take the full 10 days. Sometimes selling DVC can be an emotional situation, and people are slow to let go.

That's interesting. Neither of my contracts mentioned anything like that, but did mention that the buyer can cancel for any reason prior to 10 days, which seems pretty standard. If a seller got near 10 days to sign the initial contract, I'm pretty certain I would back out, unless they told me upfront they wouldn't be able to get to the papers right away, my 10-day window will also be gone soon. Also, I find it annoying working with people who are not prompt with their paperwork.

My first contract did mention that if it wasn't closed by a certain date, the buyer could cancel and get their deposit back, which is kind of a nice protection for the buyer. I don't recall the second one having that kind of provision.

 

[skyywalker]

At this point I'm giving the current seller until Thursday morning, which would make it a full week. The broker said it's unusual for a seller to not fill out their paperwork (especially unusual for it to happen twice in a row) and that sometimes international sellers take a week to submit the initial contract. I really don't want to deal with a seller who can't even turn in the initial contract in a timely manner. To me that's just irresponsible. I signed my first contract nearly 3 weeks ago. I had no idea it would take this long just to get a seller who actually wants to sell.

 

[Disney Dad ADL]

At this point I'm giving the current seller until Thursday morning, which would make it a full week. The broker said it's unusual for a seller to not fill out their paperwork (especially unusual for it to happen twice in a row) and that sometimes international sellers take a week to submit the initial contract. I really don't want to deal with a seller who can't even turn in the initial contract in a timely manner. To me that's just irresponsible. I signed my first contract nearly 3 weeks ago. I had no idea it would take this long just to get a seller who actually wants to sell.

Don't give up hope, I think you just got unlucky. FWIW, our current deal is with an international seller (Canada) and they seem pretty on top of things. Don't feel bad if you just want to cancel and move on. It's not like UK e-mail takes 2 days to get to the US.

 

[nolenbelledavis]

I'm executing a contract today. It says the seller has to execute their part by 8/1. Have you checked to see if your contract says anything about it?

 

[skyywalker]

The contract states the seller has until July 28th. I can't see waiting a full two weeks for the seller to do their part though. How much time will you give your seller?

 

[Cyberc1978]

I received my contract on the 7/11 and it states that seller had to execute by 7/20. Received it signed back the same day, so that was pretty nice.

Do you have the same clause in your contract?

Regards

 

[skyywalker]

I received some good news today... The sellers turned in their paperwork and we are now in the hands of Disney's ROFR!

 

[CarolMN]

I received some good news today... The sellers turned in their paperwork and we are now in the hands of Disney's ROFR!

Great! Good luck with ROFR.

 

[ruzer28]

I received my closing documents on June 15 and had them back to the closing agent a week and a half later on June 26. To this day the sellers have not returned their documents. It's been five and a half weeks. The closing agent claimed when I asked two weeks ago that the sellers had not received the original documents and she needed to send them out again. Sounds fishy to me but whatever. The closing documents requested that both parties return by today so I guess we'll see what happens next week. But ridiculous. Really.