Buyer on resale - how to confirm dvc owner before paying?

[DianaMB333]

Hi.. i am closing a resale contract, made through what seems a trustable reseller company. I have received the documents to close the contract and now I have to wire transfer the payment..
Is there a way to confirm with Disney that they are the true owners? And/or to confirm the transfer of the deed before? It seems all fine but I would prefer to have some certainties.. any advice please? Thanks

 

[TraderSamWDW]

You can search the orange county comptroller web site. All deeds are public record. A title search and title insurance should be part of the closing process, ask the broker.

 

[BillPA]

Link to the Comptroller site.

https://or.occompt.com/recorder/web/

 

[DianaMB333]

Thanks!

 

[poofyo101]

You should be paying an escrow so you are protected.

 

[DianaMB333]

You should be paying an escrow so you are protected.

?? What is it?.. i live in Mexico, have a US account so i could do the wire transfer but haven't searched for options..

 

[DebbieB]

Closing costs should include a title insurance policy.

 

[DianaMB333]

Closing costs should include a title insurance policy.

Thanks..

 

[sndral]

Hi.. i am closing a resale contract, made through what seems a trustable reseller company. I have received the documents to close the contract and now I have to wire transfer the payment..
Is there a way to confirm with Disney that they are the true owners? And/or to confirm the transfer of the deed before? It seems all fine but I would prefer to have some certainties.. any advice please? Thanks

When you made your offer you dealt with the resale company, once you have a contract, the documents & money are handled by a title company. Your instructions for where to wire the money should say the title company’s name. There are a couple of well known title companies that handle a lot of DVC sales, you might be interested in this thread https://www.disboards.com/threads/closing-time.3392820/page-275 you’ll find the names of most of the title companies. Also the thread gives you a good idea of what happens next and how long it’ll usually take.

After you wire your money it goes into an escrow account, it does not go directly to the seller. The title company holds your money in that escrow account, generally does a title search to confirm the seller is the owner of the points and they receive the seller’s documents deeding the contract to you. After the title company has everything they need from both you and the seller they record your deed, notify DVC to get you set up as a member and release the money to the seller and the agent (the agent gets a % as a commission.)
You also most likely will pay for title insurance as part of your closing costs which protects you in case there’s a problem w/ the title.

Good luck, I know it took me a bit of courage to do everything online when I bought my first resale contract.

 

[DianaMB333]

Thank you!!