Can't close before 10/xx/2015

[sndral]

I know this means that the sellers have a reservation (for themselves or rented) and can't close before as all pending reservations cancel when you close.
When I bought last time I wasn't interested in those contracts - but one caught my eye and now I'm curious - how far can you get towards closing? Can you go through ROFR before the close date? Can everything be in escrow just waiting for that date to close? How about estoppel? How long after that close by date would it take for the points to be loaded? The use year is the same as my current contract - but a different resort.

 

[Minniesgal]

To be honest if you offer now you will most likely be closing in October anyway. So if it is one you like I'd go for it

As I understand it you can go forward it is just the final closing that is delayed

 

[KAT4DISNEY]

I believe estoppel has to be just prior to closing but you'd be all thru ROFR and just waiting for that to close.

I sold a contract once where we had a reservation that we went on, not that far out though - probably only delayed it by a couple of weeks. A week or so after our trip it was gone from our account. But estoppel happened much more quickly then too.

 

[DisneyfromDeland]

I just purchased a contract with a cannot close before date. Everything proceeded as normal, the final closing was just delayed until that date. The contract went through ROFR as soon as I made my offer, then estoppel, and then we were sent the closing documents. The closing documents were held until the close date.

 

[cvjw]

I sold a contract with a "close by xx/xx/xx" date. Everything was done by the end of our vacation - the contract literally closed the day we got home. We had sent in everything before we left for Disney, the buyers sent in their money, all the closing documents were signed. It just could not physically close until we got home.

 

[sndral]

Thank you - I can't quite wrap my head around the extra month the whole estoppel debacle is adding to closing, and was wondering whether actually closing w/ pt.s loaded by Oct. or early Nov. was realistic or if it would take another couple of months after that close by date. Mmm... now that that concern is gone...

 

[cvjw]

I will add that our broker was really on the ball and had everything ready to go on the "close by" date. If I were you, I would double check with the agent to make sure that they plan to do the same thing if you buy the contract