buying DVC through Resale

[b-1]

I have a contract that I am waiting on hearing back from Disney.

I couriered my bank draft drawn on my US fund account at TD canada trust, They received it on Monday the 27th.

Today I got an email saying that I have to wire the money because "Unfortunately, the check is drawn on a Canadian Bank and I
have been advised by my title insurance underwriter that we cannot accept
foreign bank's checks, particularly those from Canadian banks."


Has this happened to anyone else? I have to admit I am a bit offended by the particularly canadian banks part. Maybe they should have reworded the email to me instead of forwarding.

There is also an extra $25 fee that the bank that is accepting the wire transfer charges and NO DOUBT there will be a fee for me to wire money.

I am annoyed.

 

[sympatico]

This probably is not the same but we just paid for a vacation home rental using a bank draft (US funds) from our bank (Royal Bank). The owner is from South Carolina and didn't have any problems with it.

 

[b-1]

The part that frosts me is that they sent a checklist to follow...and I followed it to the letter. Then they come back 6 days later and say SORRY, you'll have to wire us money instead.

so now I have to withdraw the deposit amount AGAIN ( the cash left my bank account the moment I had the bank draft done) and then WAIT... ... ... until they send me back my bank draft in order for me to get my money back. Not to mention the extra fees that the wire transfer costs on top of the money already spent to courier the bank draft down in the first place.

maybe i need a genuine "sorry about this" email. or a phone call. something

 

[ABCanada]

We have purchased resale twice. (and direct twice which I much prefer)
We did pay with at TD bank draft for at least one of these transactions. I think for second one we did wire the money down more because of courier frustrations.

Given the major Canadian banks all have US operations (and have been buying US banks in difficulty (had to get that in)) I find it very strange that they would not take a TD bank draft.

Given the bank draft withdraws the money from your account I would be very uncomfortable with what is being requested.

 

[CrystalS]

I would personal wait for the return of the bank draft before wiring any more money to them...

 

[sjsjbrook]

I would personal wait for the return of the bank draft before wiring any more money to them...

I would too and I would also call and talk to a person, because it sounds really strange to me to have it come in an email.

 

[b-1]

Thanks for the support.

I will call tomorrow and speak to a person. I am not wiring any money until that draft is back in my hand.

Very disappointed in the customer service. A phone call explaining the situation would have made all the difference.

 

[Alderbrook]

I have a contract that I am waiting on hearing back from Disney.

I couriered my bank draft drawn on my US fund account at TD canada trust, They received it on Monday the 27th.

Today I got an email saying that I have to wire the money because "Unfortunately, the check is drawn on a Canadian Bank and I
have been advised by my title insurance underwriter that we cannot accept
foreign bank's checks, particularly those from Canadian banks."


Has this happened to anyone else? I have to admit I am a bit offended by the particularly canadian banks part. Maybe they should have reworded the email to me instead of forwarding.


There is also an extra $25 fee that the bank that is accepting the wire transfer charges and NO DOUBT there will be a fee for me to wire money.

I am annoyed.

I personally find it hilarious that they won't accept a bank draft from a Canadian bank considering our banking system is superior to the US banking system. Have they forgot their system almost crumbled 2 years ago bringing down everyone with them, meanwhile ours held on & was considered one of the best in the world?

Very ironic!

I too wouldn't send any money until you have yours back. Are you dealing with a lawyer here for this transaction?

 

[b-1]

i received my original bank draft on wednesday october 13th (!)

When I looked at the draft it says toronto dominion on the top of the draft and on the bottom it says Wells Fargo Bank and the address of that bank in the U.S.

so the money would actually be coming from Wells Fargo NOT the TD (TD and Wells Fargo have an agreement in place)

I had to cancel the first contract that I had put an offer on as I wasn't going to wire more money until I received my bank draft back, which I knew would take awhile.

in any case, I will be using a different DVC resale broker and insist on a different closing company for my DVC resale purchase. I'm sure that won't matter to either company as I am just a small fee in the grand scheme of things but I sure will feel better.