Closing Process

[wdwcoltsfan]

We have finally decided to purchase at AKV! I'm curious what the closing process is like. Can anyone fill me in on what it will entail and how long this will take? We are going to be purchasing outright, so we won't have to go through financing, if that makes a difference.


Rachel

 

[drusba]

If you are going to buy by phone:

1. Call, agree to purchase, agree to down payment and either put it on credit card or send check.

2. About 6 to 8 days after they have down payment, you will receive disclosure documents and contracts, deed, and acknowledgments of disclosures to sign and date, with a fed-x envelope (with charges to Disney) to return them in along with a check for the remainder of your sale price. With no financing, you won't have to sign and notarize mortgage and loan documents and thus you won't have to have anything notarized.


3. They then usually have a closing 20 to 40 days after you return the documents (it depends on their regularly scheduled dates for doing so and also since you do not have to wait for approval of mortgage, yours will probably be earlier rather than later). You do not have to attend (you will have signed all necessary documents in step 2 above), and thereafter they send back your set of all the signed documents including the deed. You will also get a member card as a new purchaser which may actually arrive separately about the same time (you will be able to learn your member number after step 1 or 2 above but card itself comes a little later)

4. As far as using the points, you can actually start making ressies at about the time of step 2 above as long as they are for a visit that is to take place after estimated time of closing.

 

[wdwcoltsfan]

Thanks! That sounds pretty painless. I didn't figure it would be too involved, but I thought I would make sure. I also didn't know when I would be able to start using points.


Rachel

 

[Downrivermama]

I just closed on 9/7. We took the tour at SSR on July 21st. I too didn't finance, but ran it through my Disney Visa. Just got my DVC membership 2 days ago! They sent all the paperwork with a FedEx return one. Very simple.

Congratulations!

 

[wdwcoltsfan]

How soon after starting the process were you able to use your points?

Rachel

 

[Downrivermama]

How soon after starting the process were you able to use your points?

Rachel

I put down the deposit on 7/21 and about a week later, I got an email with a PIN to go on the DVC website and was able to bank 2007 points.

 

[n2mm]

When you don't finance through Disney, it's so easy, it's almost scarey. I've done it 5 times now and sadly, I'll probably do it again....come on CRV!

Like other's have said, you call, say I want to buy, give them you cc for the $500 deposit, the "box" arrives within a few days, you sign, send back and then we call our guide and tell her we want to use our Disney Visa (for the points), and she calls our cc into the accounting section for us and they charge me cc. (I then pay it off right away and get tons of free disney rewards). This can all happen within 2 weeks, maybe less. Before I even send my paperwork back, the points magically appear on my account!

 

[JW9DVC]

We opened on the 27th of September, deed was recorded October 12th 2007. Only a 15 day escrow, we financed through Disney. We did all the paper work at DLR. Talk about painless! What an easy experience. If you purchase at DLR, you can use your points within hours!! We booked in less than an hour from leaving. JW

 

[MichiganMouse1967]

When you don't finance through Disney, it's so easy, it's almost scarey. I've done it 5 times now and sadly, I'll probably do it again....come on CRV!

Like other's have said, you call, say I want to buy, give them you cc for the $500 deposit, the "box" arrives within a few days, you sign, send back and then we call our guide and tell her we want to use our Disney Visa (for the points), and she calls our cc into the accounting section for us and they charge me cc. (I then pay it off right away and get tons of free disney rewards). This can all happen within 2 weeks, maybe less. Before I even send my paperwork back, the points magically appear on my account!

When financing through Disney, do you give them just a $500 deposit to get things moving, or do they require the full 10% down payment?