Closing docs, now what?

[3girlsfun]

We finally received closing documents, and overnighted them today with the cashier's check. They will be in the office tomorrow before 3pm. Now what? I contacted Fidelity to ask them what we could expect, and they told us they would call us when they heard something. After all of our experience, I do not have any faith that they will actually call us, or email us to alert us of anything. So, is there anyway for us to find out information? What exactly should I be expecting from this point? Timeline?

All of this of course is dependent upon the seller sending the closing documents back in a quick manner. We received the documents late last Thursday, but, we were delayed because we had tornadoes, and then, we were out of town for the weekend.

The projected closing date I was given was May 17th. Does that mean that the seller has until then to get the paperwork back to the title company?

 

[mjc2003]

We finally received closing documents, and overnighted them today with the cashier's check. They will be in the office tomorrow before 3pm. Now what? I contacted Fidelity to ask them what we could expect, and they told us they would call us when they heard something. After all of our experience, I do not have any faith that they will actually call us, or email us to alert us of anything. So, is there anyway for us to find out information? What exactly should I be expecting from this point? Timeline?

All of this of course is dependent upon the seller sending the closing documents back in a quick manner. We received the documents late last Thursday, but, we were delayed because we had tornadoes, and then, we were out of town for the weekend.

The projected closing date I was given was May 17th. Does that mean that the seller has until then to get the paperwork back to the title company?

Now you sit and wait!
Remember that the seller has to have several documents notarized, not just two pages to sign as buyers do. So, it could take them a few extra days. Once all docs are received from both parties, you will be set to close; they could theoretically move up the close date. The seller has no reason to drag it out, they want their money. I would advise getting the contact info of the closing company Fidelity is using, if you don't have it already, and pester them. Ask to close ASAP and follow up daily to see if the seller has sent in their paperwork (once you can reasonably assume yours have arrived).
You should be able to close earlier than the 17th.
Once you close, the file will be sent to Disney and you will have to wait another 5-10 days for the points to be loaded.

Stay on top of the closing agency. They were receptive to my inquiries. Try to be patient, I know it's not easy, but realistically you are probably about 3 weeks or less from being done and in the system.

 

[3girlsfun]

Pester the closing company? Would you suggest via telephone or email? My documents should arrive tomorrow before 3pm, however, I realize, they may not be able to immediately work on my documents. So, that would put them to Thursday to start calling? I talked with the closing agency today to let them know they documents on on their way, so, I have their information. I let the lady that I was talking with know that I have had terrible communication with Fidelity, and that I was being as proactive as possible in the process as it is finishing up.

So, about 3 weeks away, that is great news! I will sit back and wait, as much as I can.

Do I have to call Disney directly, or is there a way to check online somewhere?

 

[MsRem]

We're kinda in the same boat. Signed docs and sent money on the 19th. A week later we emailed the closing company asking about a timeline and where we were in the process. They told me sellers had done their part and now waiting on update to DVC, whatever that means. I was looking on the comptroller's site this weekend and lo and behold, were already in there. It was dated the day after I spoke with the closing company. Still havent heard anything since then.

Im assuming we are closed and gonna wait a week or so before calling Disney.

 

[3girlsfun]

MsRem--I have heard about the controller's site, what exactly do I need to input into that site to make sure I am doing it correctly? Is it just our name?

 

[mjc2003]

Pester the closing company? Would you suggest via telephone or email? My documents should arrive tomorrow before 3pm, however, I realize, they may not be able to immediately work on my documents. So, that would put them to Thursday to start calling? I talked with the closing agency today to let them know they documents on on their way, so, I have their information. I let the lady that I was talking with know that I have had terrible communication with Fidelity, and that I was being as proactive as possible in the process as it is finishing up.

So, about 3 weeks away, that is great news! I will sit back and wait, as much as I can.

Do I have to call Disney directly, or is there a way to check online somewhere?

To give you an idea of our timeline at this point, we got them everything by Thursday, April 7th. I reached out to them on the 8th (friday) and they had not heard back from the seller. I reached out again on Monday the 11th, and they confirmed they had received everything from the seller and were "waiting for Disney to confirm the point status" (not sure what this means), and that would take a few days. I emailed Wednesday the 13th, and did not hear back, but got an email first thing Thursday the 14th saying "Your filed was closed yesterday, April 13th".

We were in the Disney system April 22nd and able to make a reservation.

So in short, from the time we got in all our docs we were closed in about 6 business days. I am not saying this is the norm; just my experience. It also is contingent on the seller getting in the docs, and ours got their back in 1 day.
Since you already have spoken to the closing agent and expressed your eagerness and concerns about your dealings with Fidelity, I'd follow up with an email. If they don't respond, call. I was hesitant to be a pest, but realized that I was spending a lot of money and didn't think I was being unreasonable.
I hope it goes quickly for you. I know it's ponderous, but trust me, it will happen soon.

 

[3girlsfun]

I am hoping to not be a pest, but, I will be proactive. I keep saying this, but, by this, I just mean, that I will email, and call consistently to get updates. I figure if I haven't heard anything from them by Thursday or Friday I will call just to get an update.

I do know what with Fidelity, the sellers didn't receive the paperwork from Fidelity when the offer was made. I am hoping that they receive the paperwork bc otherwise, how would they know that things have reached the current stage.

I will cross my fingers that things go that quickly for us!

Your right, eventually this will all be over.

 

[MsRem]

MsRem--I have heard about the controller's site, what exactly do I need to input into that site to make sure I am doing it correctly? Is it just our name?

Yea I went down to the option that says Both Names, put last and first, exact match, and searched all documents. Two of them came up, one for waiver of ROFR and one for the deed.

 

[Buckeye Fan]

I went through all 4 of my resale time lines from previous purchases (granted, all of ours this time may be a little delayed due to the 3/20 activity), but all 4 contracts were closed and in Disney's system within 4 weeks of me receiving the closing docs. If that stays consistent, we both should be in the system no later than end of May if not sooner.

 

[ORD2KOA]

I went through all 4 of my resale time lines from previous purchases (granted, all of ours this time may be a little delayed due to the 3/20 activity), but all 4 contracts were closed and in Disney's system within 4 weeks of me receiving the closing docs. If that stays consistent, we both should be in the system no later than end of May if not sooner.

The one we closed on as the seller was closed on 3/31 and the deed was officially recorded on 4/25.

I did try to see if I could log onto the DVC member site after 3/31. I think I was finally locked out around the 5th of April.

 

[ORD2KOA]

We finally received closing documents, and overnighted them today with the cashier's check. They will be in the office tomorrow before 3pm. Now what? I contacted Fidelity to ask them what we could expect, and they told us they would call us when they heard something. After all of our experience, I do not have any faith that they will actually call us, or email us to alert us of anything. So, is there anyway for us to find out information? What exactly should I be expecting from this point? Timeline?

All of this of course is dependent upon the seller sending the closing documents back in a quick manner. We received the documents late last Thursday, but, we were delayed because we had tornadoes, and then, we were out of town for the weekend.

The projected closing date I was given was May 17th. Does that mean that the seller has until then to get the paperwork back to the title company?

Our seller took 14 days to send their paperwork in. You'd think these folks would want their money, wouldn't you? Ask when the paperwork was sent and if it isn't back in 10 days (they're going to have to go to a notary), ask the closing company to check with them to see what's going on. The seller does have until the 17th, by contract, to return the paperwork, but there's nothing to stop you from having the closing company give them a nudge.

Once the seller's paperwork is in and it's all as it should be, the closing company can close the same day.

I would check to see that the closing company has received your check and that everything is in proper order. Then I would check every 3 days maybe to see if they've heard from the sellers.

Good luck!!

 

[3girlsfun]

I thought I'd do an update. I emailed The closing company yesderday to verify my package was received and asked if they had heard from the sellers. They had received the package and they had contacted the sellers.

She said they expect the sellers to return the paperwork in a few days. So, I'll check back on Monday.

 

[EWL]

I was looking on the comptroller's site this weekend and lo and behold, were already in there. It was dated the day after I spoke with the closing company. Still havent heard anything since

So what does it mean if we closed on 4/19 and I see nothing on the comptroller's site? And we are not in the DVC system... just called again and the guy seemed to imply that we wouldn't be in the system until the deed had been recorded and then said how backed up they are with 3/20 resales. TSS advised that we should be in the system by today. This wait is far more frustrating than ROFR!

 

[DonDon]

So what does it mean if we closed on 4/19 and I see nothing on the comptroller's site? And we are not in the DVC system... just called again and the guy seemed to imply that we wouldn't be in the system until the deed had been recorded and then said how backed up they are with 3/20 resales. TSS advised that we should be in the system by today. This wait is far more frustrating than ROFR!

Call TSS. You should have 2 docs on the comptroller's site. 1 ROFR notice. 1 deed if you were "closed". Disney is telling people the wait to get in the system is now 10-14 days after they receive the packet from the title company

 

[Buckeye Fan]

Just wanted you to know that I just received a notice today that one of the contracts I was selling closed. Now 3 more to go!

Keep me posted on yours as well!

 

[EWL]

Call TSS. You should have 2 docs on the comptroller's site. 1 ROFR notice. 1 deed if you were "closed". Disney is telling people the wait to get in the system is now 10-14 days after they receive the packet from the title company

Yahoo!! Called TSS and they called their DVC contacts and today we are in the system and have our first reservation for 5 nts in August at Jambo!!

 

[EWL]

Just as an update: we still have nothing showing on the comptrollers' website but we are in the system with a reservation made; so if anyone else is waiting, the fact that you don't see your docs on that website yet does not mean that the process is not moving along.

 

[3girlsfun]

This is strange. When we first sent in our closing documents the lady was so super nice, and so all about answering my questions. So, after I talked to her the first time, it is nothing but one short answer. I have emailed several times, asking a couple different questions, and I am getting no answers. What is going on with this?

Should I call Fidelity or the closing company?

 

[bulldogbaker]

Well we closed today with Magic Vacation Title and The Timeshare Store. Both were great through the whole process. Told us in an email to call on May 30th and our points should be ready to go at that point. They informed us that Disney was backed up this month so it will take longer than the 7 days they initially estimated. SO EXCITED and can't wait to go!!!!!!!!

 

[Buckeye Fan]

Our two resales and two of 3 purchases have closed. One last week, the other three yesterday. One more to go!

On the contract that we sold, it took 5 business days for the points to disappear from our account, so I'm assuming it will be another week or so before they appear in the buyer's account.

This has been like watching paint dry!