Anyone made it through (or not made it through) ROFR recently? - Section IV

[saintstickets]

The original date scheduled for our closing is February 20th but I am hoping it gets moved up to this week. We are also using timeshare title and more llc for our closing. My dh reminder me that the 20th is presidents day so none of us can close that day.

I don't understand why it would take more than two days after the title company receives all the signed papers from both parties why they can't close early?

There are several factors that could come into play to cause a delay once the Title Co receives all the closing docs from both parties. First, the Title Co has to make sure all the T's are crossed and the I's dotted. The seller has to have their docs notarized with two witnesses. You'd be surprised how many times this is not correct. Then they order a final update from Disney to make sure no points have been used for an additional vacation, the points (especially any banked points) are as the seller reported them and they find out if the seller is current on their Maintenance Fees and/or financing. This time of the year, some sellers have not paid their MF's hoping they would sell beforehand. If there are outstanding MF's or the seller financed the purchase and it is not paid off yet then those monies must be netted out from the seller's proceeds. I would imagine that there are also times when the seller financed the purchase but never recorded the appropriate documents when it was paid in full.

I'm sure there are a multitude of other reasons that could cause a delay in the closing including a Title Company that is not in a hurry or they made a mistake in filing with the Orange County Comptroller's Office (this happened to us). If all is well and there aren't any problems, unless Disney has a rush of filings at once, it should not take more than 3 business days for you to receive an email from the Title Company that says the transaction is closed and they have forwarded the filed deed to Disney. It then takes Disney up to 5 business days (usually only takes 2) to change the points in their system. I know the wait is terrible, but that's all but forgotten when you call Member Services, get your member number and set up an online account. When you see those points online, it's all good then!

 

[Debbie Jean]

My add on is done!

BWV 150 pt. Sept UY
sub 12/27
passed 1/24
closed 2/14

Working with Sharon at Fidelity, everything went very smoothly and efficiently despite the holiday

Good luck to all those who are waiting!

 

[doodlemama]

Our contract has officially been sent to Disney for ROFR!!! Hopefully it will move along quickly...
270 points March UY BLT $87/point Buyer pays MF and closing costs
Wish us luck!

 

[etemplet]

Hmmmmm.... sent to ROFR on 1/12. I made my first phone call to Fidelity. They are checking on it. I'm a good waiter though not by choice. As long as we get through, it's all good.

 

[Crazy4Disney06]

Hmmmmm.... sent to ROFR on 1/12. I made my first phone call to Fidelity. They are checking on it. I'm a good waiter though not by choice. As long as we get through, it's all good.

Interesting......we went to ROFR on 1/13 and we found out on 2/10 we passed. Hope you find out soon.

 

[disneybeachprincess]

Doing the "we passed rofr" happy dance!!!!!!!!!

WOO HOO! WE PASSED DISNEY'S ROFR ON OUR VERY FIRST DVC CONTRACT TODAY THIS IS A DISNEY DREAM COME TRUE! THANKS FOR SHARING MY EXCITEMENT & LETTING ME SHARE IT WITH YOU ALL!

DETAILS:
350 POINTS @ HILTON HEAD ISLAND HOME RESORT-SEPT USE YEAR
$45 A POINT WITH 50 LEFTOVER POINTS FROM 2011 AS A BONUS!
__________________
Disneybeachprincess

 

[zeferjen]

Just heard that our contract closed! Here is my timeline:

12/30: Offer accepted by buyer
1/2: Contract received from Fidelity. Sent back the same day via fax.
1/2: Offer went to ROFR
1/31: Heard that we passed ROFR
2/7: Estoppels received from Disney
2/9: Contract received from First American Title. Sent back next day air via Fedex.
2/10: &*%$#& Fedex airplane broke down with my contract on it.
2/13: Contract received by title company
2/15: Contract closed

Now we just have to wait for the points to show up in the Disney system. I highly recommend Rachel at Fidelity. She was very nice and responsive.

 

[disneybeachprincess]

congrats to you zeferjen fellow dvc owner! which resort did you choose as your home resort?

 

[zeferjen]

congrats to you zeferjen fellow dvc owner! which resort did you choose as your home resort?

SSR I was JUST thinking... is it too soon to update my signature with the SSR owner picture???

 

[siennasmama07]

SSR 150 JUNE UY
104 2012 pts
58 per point, buyer pays half mf on remaining 12' pts and closing

01/17 contract sent to DISNEY for ROFR
02/15 PASSED ROFR

I was notified that it takes about two weeks to receive closing docs. I'm saying a prayer that it all goes smoothly. I can't wait to book our vacation.

 

[disneybeachprincess]

Congrats to you too siennasmama07! Happy for you! I know the magical feeling! I can't wait either...I have mine all ready to go when we are in the Disney system Pixie dust to us both!

 

[disneybeachprincess]

I don't think so..never to early to be welcomed home!!! I guess I can do that as well!!!

 

[Celestia]

I just got a phone call and we passed!!

250 AKV (Aug) $58, 57 '10 pts, all '11pts, all '12 pts, buyer pays closing

Our broker said within two weeks we'll get the closing papers.

 

[disneybeachprincess]

ISN'T IT AN AWESOME FEELING?!?

 

[siennasmama07]

Thanks DisneybeachPrincess Wishing you the same.

 

[Celestia]

ISN'T IT AN AWESOME FEELING?!?

Yes it is! Congrats to everyone who has passed today! Our broker said that he had a stack of approvals today! Lots of happy people today!

 

[WLodgeLizard]

Add another car to the ROFR train.

SSR 120 points, Dec UY
29 2011 points
120 2012 points
Buyer pays closing and 2012 MF
$50 PP
Fidelity (highly recommended so far)

Offer accepted 2/1
Sent to ROFR 2/15

WLL

 

[etemplet]

Interesting......we went to ROFR on 1/13 and we found out on 2/10 we passed. Hope you find out soon.

Hmmmmm.... sent to ROFR on 1/12. I made my first phone call to Fidelity. They are checking on it. I'm a good waiter though not by choice. As long as we get through, it's all good.

I was musing today. If it went to Disney for ROFR and it has been more than 30 days... (Day 35) Isn't their "time" up ??

 

[Crazy4Disney06]

I was musing today. If it went to Disney for ROFR and it has been more than 30 days... (Day 35) Isn't their "time" up ??

Are you sure they have not emailed you? Are you going through Fidelity? I was only contacted via email. Perhaps it went to your spam mail?

 

[AimKo]

I had to share because I'm so excited!!!

I called yesterday and was able to book my first visit home!!!

Here is our timeline...

1/3 Contract went to Disney for ROFR
1/31 passed ROFR
2/1 got our closing papers via email
2/8 on record with Orange County
2/9 payoff funds were delivered to Disney
2/15 called at 3pm and the were *just* putting us in the system....the CM actually called me back once we were in so that I could book our room

.....going for our first trip home to SSR with a 2 bed villa in May!!! Let the count down begin!!!



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