Closing on a Resale... A long wait!

[lingber]

Does anyone know why it takes the title company 4 weeks AFTER you pass ROFR to prepare the documents for closing? This seems like a very long time. Especially if there is no financing and it is an all cash purchase.


We placed an offer last Friday, signed contracts on Sunday, got word on Tuesday that the seller had countersigned and we are off to ROFR. We know we have two weeks from then to find out if we passed. But 4 more weeks to close seems very long. I didn't get at first all the comments about waiting to get into the system, but now that I have DVCitis, (my DH says all I do is read the boards) I totally get it!

Thanks!

 

[Laxmom]

It isn't just the title company working on your sale. The paperwork goes thru a process called estopple where everything is verified by Disney and the title company. Most of that wait is waiting for this to be done and come back from DVC. Then the title co starts their part. If you happen to be buying HHI, throw in an extra stop for you paperwork at an attorney's office.

Good luck with your contract!