Closing taking too long?

[noisykid]

Looking for some advice/experience on closing timelines. We passed ROFR on 11/4 and the same day I (buyer) signed all closing paperwork and wired funds. It is now 17 days later and the seller has still not completed their paperwork. When I check in with the title company, they tell me that they are waiting on the seller to schedule a notary session. I'm starting to get frustrated and am tired of having to check in weekly with no result. All parties are USA based and the seller is actually only a few miles from me, ironically. If I'm just being impatient and this is typical of DVC resale, let me know, but from the closing thread, this doesn't seem to be the case. Thoughts or advice?

 

[Add-On-Itis]

This is a good thread! But looks like you already posted there

https://www.disboards.com/threads/closing-time.3836891/

 

[Add-On-Itis]

Not much you can do to make the seller sign faster. Unless you want to knock on their door, since you're close by.

 

[noisykid]

This is a good thread! But looks like you already posted there

https://www.disboards.com/threads/closing-time.3836891/

Yeah, didn't want to clog that thread if this started to get long.

 

[byurick]

The sellers have until the closing date listed on the contract to get everything done so if they want to drag their feet until then not much you can do about it.

 

[airjay75]

I feel your frustration. I closed on a contract last week where it took the seller 3 weeks from passing ROFR to get his documents in properly. He had sent them in once, but it wasn't done correctly and then had to do it again. It was incredibly frustrating. I'd be even more frustrated in your situation because now that you've passed 11/20, you're probably going to have to prepay the 2026 dues to close (which means you're going to have to wire more money). Sorry to bear that bad news if you didn't already know it .

I believe the purchase contract for most brokers give 60 days from execution for closing to occur, so there's not much you can do as the buyer before that point. At that point, you could technically back out if you wanted to.

 

[Add-On-Itis]

I feel your frustration. I closed on a contract last week where it took the seller 3 weeks from passing ROFR to get his documents in properly. He had sent them in once, but it wasn't done correctly and then had to do it again. It was incredibly frustrating. I'd be even more frustrated in your situation because now that you've passed 11/20, you're probably going to have to prepay the 2026 dues to close (which means you're going to have to wire more money). Sorry to bear that bad news if you didn't already know it .

I believe the purchase contract for most brokers give 60 days from execution for closing to occur, so there's not much you can do as the buyer before that point. At that point, you could technically back out if you wanted to.

Closed on your CCV?

 

[airjay75]

Closed on your CCV?

Yes! Closed Thursday last week and had points in my account on Tuesday this week!

 

[cruisehopeful]

I had slow sellers, too. I was annoyed enough that I was going to pull the plug if it didn't close on the close by date. It's definitely a downside to resale. You're stuck until the close by date. At that point, you can either get a refund or ride it out. While rare, it can take months to close.

 

[sndral]

It’s so frustrating - you’d think the seller would want to get their funds ASAP . My first resale was from a divorcing couple (something I didn’t know until after I passed ROFR) & it took them until just before our closing date to return their doc.s.
Occasionally sellers owe more on the contract than they’re selling it for & it can take them time to get their funds together to close.

 

[MICKIMINI]

If the seller is past the closing date threaten to pull out. It worked for us in the past. Good luck!

 

[muppets3d]

I don't get the delays it looks like they would want their money. My last resale went fairly quick, everything was in order in a matter of days.

 

[byurick]

For some people that amount of money incoming from a sale isn't a big deal so why rush?

 

[Hoops McCann]

Looking for some advice/experience on closing timelines. We passed ROFR on 11/4 and the same day I (buyer) signed all closing paperwork and wired funds. It is now 17 days later and the seller has still not completed their paperwork. When I check in with the title company, they tell me that they are waiting on the seller to schedule a notary session. I'm starting to get frustrated and am tired of having to check in weekly with no result. All parties are USA based and the seller is actually only a few miles from me, ironically. If I'm just being impatient and this is typical of DVC resale, let me know, but from the closing thread, this doesn't seem to be the case. Thoughts or advice?

Have you asked the seller's agent if they know what's up?
Maybe it's cold feet? A family dispute?

Anyway, it sounds very frustrating. Hope it resolves soon.

 

[Androzor]

I had the same issue during my purchase this past summer. The sellers didn’t return their signed paperwork until just before the closing deadline. I was told by the broker that the sellers were closing on multiple contracts at once and that they were seniors who were “not tech savvy” so they couldn’t notarize on line.

It’s very frustrating, but as others have said, there’s not really anything you can do but wait.