Approved ROFR, am I a DVC owner officially?

[JudyTL]

Okay, I was approved through ROFR today. I have not closed yet. Do I need to wait until closing to reserve? When am I placed in DVC system as an owner?

I know these questions are sounding stupid. However, one never knows.

 

[LisaS]

Okay, I was approved through ROFR today. I have not closed yet. Do I need to wait until closing to reserve? When am I placed in DVC system as an owner?

I know these questions are sounding stupid. However, one never knows.

Now that you have passed ROFR, you will be sent your closing paperwork. You need to sign that and send it back along with your check with your final payment. Closing will occur a few days after both buyer and seller return their signed paperwork. You should be in the system about 10 days after closing.

 

[JudyTL]

Lisa,

I was told it would take about 2 to 3 weeks to get the papers. Is that about right?

Thank you so much...

 

[Duchie]

I can't answer any of your questions, just wanted to say congratulations and WELCOME HOME!

 

[bmoncher]

Congrats!
We were submitted to disney on 1/19 as well... still waiting to hear...

Beth

 

[JudyTL]

Thank you ... I am very excited.

 

[LisaS]

Lisa,

I was told it would take about 2 to 3 weeks to get the papers. Is that about right?

Thank you so much...

It varies based on the closing service's current workload. Timeshare Closing Services handled my closing. I was told it would take 2 weeks to get the closing docs but they arrived (via email) in about 10 days. I Fed Ex'd my paperwork and check back to them and the seller got their paperwork in quickly as well. We closed a few days after the closing service received my paperwork. I was in Disney's system nine days after that.

You had originally asked if passing ROFR makes you a member and the answer is "not yet". Passing Disney's "Right of First Refusal" means that Disney has reviewed the deal you reached with the seller and passed on their option to purchase the contract. So you and the seller are free to proceed with your sales transaction. But at this point, you haven't purchased the contract yet -- it still belongs to the seller. It does not change hands until you both sign the closing documents and you send in your payment, the closing company processes the documents and files the new deed (with your name as the owner) with the county and notifies Disney of the change of ownership. The final step is Disney putting your information into their system, issuing you a Membership number, setting up your account and putting the points from the contract into the account.

The good news is, you got through the most important step -- passing ROFR, so now it's just a matter of signing the paperwork, sending in the money and counting the days until you are officially a member.

 

[JudyTL]

Beth,

What resort.. I submitted mine on 1.16...I just heard. My agent said they only approve on Monday and Friday, yet mine was approved today (Thursday). I cannot wait until I tell my kids. They have no idea. Next, I want to do some add ons at AKV, HHI, BWV or WLV.... It is so nice to know that for the rest of my life, I have a vacation place that will be like a fantasy vacation life. Now, I got to wait to book my air.. until I am entered into the system. You should hear very very soon...

Judy

 

[crk1971]

I just heard from The Time Share Store that they have sent our paper work off to Disney to be entered into the system. It will be a long 10 Days, I will shorten it by calling in five days for five days! LOL!!!!!!!!!!!!! Now its just a matter of what is left for 1 bdrs in April.

 

[crk1971]

Does disney process this info into the system quickly, does any one know?

 

[korbbec]

Now that you have passed ROFR, you will be sent your closing paperwork. You need to sign that and send it back along with your check with your final payment. Closing will occur a few days after both buyer and seller return their signed paperwork. You should be in the system about 10 days after closing.

Interesting. I passed and was told my closing would be on Feb 12th. I was not told anything else or sent any paperwork. I think I need to go make a phonecall.

 

[LisaS]

Interesting. I passed and was told my closing would be on Feb 12th. I was not told anything else or sent any paperwork. I think I need to go make a phonecall.

I got my closing paperwork about 10 days after passing ROFR. I was told it would take 2 weeks so I was happy to receive it a bit early.

 

[LisaS]

Does disney process this info into the system quickly, does any one know?

It takes about 10 days from closing. The timeframe varies based on their workload. Given they just finished a big SSR promotion and just started selling AKV today, they are probably pretty busy in DVC Admin.

 

[crk1971]

Thank you, i will definitely call them and keep up with them.

 

[bmoncher]

Beth,

What resort.. I submitted mine on 1.16...I just heard. My agent said they only approve on Monday and Friday, yet mine was approved today (Thursday). I cannot wait until I tell my kids. They have no idea. Next, I want to do some add ons at AKV, HHI, BWV or WLV.... It is so nice to know that for the rest of my life, I have a vacation place that will be like a fantasy vacation life. Now, I got to wait to book my air.. until I am entered into the system. You should hear very very soon...

Judy

I was at a viewing this afternoon and just checked email our OKW at 79 a point for only 25 points... has PASSED!!! YEAHHHHH

 

[byoung]

Congrats!

 

[T.E. Yeary]

Congratulations & Welcome Home!!


HAPPY "MAGICAL" VACATIONING,
Tom & Staff

 

[korbbec]

Thank you, i will definitely call them and keep up with them.

Yeah- you might want to do that. I just called and found out the I have to have my paperwork, which I have still not recieved, back to them in ten days. No one mentioned any paperwork. I mean, I knew there would be paperwork eventually, but no one said to me "you will be recieving paperwork via email which you need to review, fill out and get back to us by Feb 12 with your certified check for the balance." Would that have been so hard? I have never done this- I have no idea. I was told my closing would be Feb 12th. That is all I was told. I figured on Feb 12th someone would contact me and tell me the next step. If I was supposed to be doing things in between they should have told me. Now I have to try to contact the closing ageny lady to get the paperwork- and of course she is away from her desk. Sorry for the rant but I'm not happy with this.

 

[WendyinNC]

I passed ROFR on Jan 5th and I still don't have any closing papers. My Contract for Purchase states that I should close on or before 2/26/2007. It sure does take a a long time!

 

[T.E. Yeary]

If any of you did business with The Timeshare Store and are having problems, PM me right away and I'll do my best to get things cleared up. We want happy customers!!

Sincerely,
Tom