Buying a resale contract. ? about timeline.

[eeyoresmom]

My deposit check was cashed yesterday.Anyone have any idea how long until the points are available for me to book? ( I'm already a DVC member if that matters) TIA

 

[nunzia]

Did you buy from Disney or thorugh a resale company? It took us 2 months and that seems about the normal time. I have no idea how quickly Disney does it.

 

[eeyoresmom]

Through a resale company.

 

[mdorgan]

we had access to our points less than 2 weeks after closing

 

[Buckeye Fan]

If this helps, DH and I bought resale. Here was our timeline:
* Made offers on 2 contracts through GMAC on 1/9 and offers were accepted same day. Also sent a $100 deposit for each on 1/9. That's all that was required until closing.
* Contracts went to Dis for ROFR around 1/16.
* Passed ROFR on 1/31.
* Estoppels came back to GMAC on 2/17. This allowed the title company to prepare the closing docs.
* Received closing docs on 2/20. Returned everything to GMAC on 2/21.
* Deed was recorded through Orange County on 3/7.
* We were in the system 7 days later.
* Booked first vacation on 3/21. We had points that were going to expire on 7/31

So, from offer to reservation...2 1/2 months. However, both sellers and I turned contracts around immediately, and GMAC was just as timely on their end. With the exception of Dis taking a couple of weeks to waive ROFR, it couldn't have gone much faster for resale contracts. Hope this helps and congrats on adding on!!! I could always find a use for more points!!!

 

[crisi]

It will be variable depending on lots of factors: how fast DVC waives ROFR, how quickly your seller signs and returns documents, how busy the closing company is and when they can schedule closing once everything is ready, whether any mistakes are made. I wouldn't hope for less than two months, and I'd plan on three.

 

[disneynutz]

Two months is the average wait.

 

[michamato]

We are also members and in the process of buying resale from GMAC.

So far it has been a much longer process than when we bought last year through TTS. We also bought in Feb last year, so Disney may not of been as busy as they are now.

We submitted an offer on 12/31, it was accepted right away.
Our paperwork got sent to disney on 1/4 and we are still waiting to hear on ROFR, they have 30 days, and we are on day 21 without any word. (last year it took 8 days).

I was expecting 2.5 months to close to be able to use the points, but with Disney taking so long to respond, it will take longer.

 

[wendyinoc]

I started the process on 10-23 and funded today!!! I am finally a member!!

 

[Escape Artist]

I started the process on 10-23 and funded today!!! I am finally a member!!

Congratulations, Wendy!

Does anybody know, after the seller signs the contract on a resale, do they have to sign more documents at closing to make it final?

Our seller signed our contract quickly, but I hope the rest of their process goes quickly, too.

Thanks!

Sue in Texas
...now nervously in ROFR for OKW points...

 

[bblanch]

Congratulations, Wendy!

Does anybody know, after the seller signs the contract on a resale, do they have to sign more documents at closing to make it final?

Our seller signed our contract quickly, but I hope the rest of their process goes quickly, too.

Thanks!

Sue in Texas
...now nervously in ROFR for OKW points...

At closing, they will have to sign a warranty deed granting the ownership interest to you from them. It's also their responsibility to get this document notarized.

 

[Escape Artist]

At closing, they will have to sign a warranty deed granting the ownership interest to you from them. It's also their responsibility to get this document notarized.

Thanks! I figured it was something like that, but this is my first contract, so I'm just learning the ropes. Hope they don't take too long getting to the notary.

I can't wait 'til it's final! Then I can't wait to start actually using my new points!!!

Sue in Texas
...Disney oldie, DVC newbie...