Closing Time!

[Amyeliza]

19 days and counting since the seller has received the closing documents. We're getting close to 3 weeks. I'm wondering at what point does the escrow company cancel. And if I will be charged the fees (the buyer) because I'm the only person with $$ in the escrow account. Has anyone been in a similar situation?

 

[Jimmy Geppetto]

19 days and counting since the seller has received the closing documents. We're getting close to 3 weeks. I'm wondering at what point does the escrow company cancel. And if I will be charged the fees (the buyer) because I'm the only person with $$ in the escrow account. Has anyone been in a similar situation?

I've heard of similar situations from previous posts. Many people recommend not sending the funds until the seller submits their closing documents. As long as you are dealing with a reputable Title company you'll be fine. If the transaction doesnt close by the close date in your contract you can request that the Title company cancel the deal and your money will be reimbursed to you without penalty.

 

[Sandisw]

19 days and counting since the seller has received the closing documents. We're getting close to 3 weeks. I'm wondering at what point does the escrow company cancel. And if I will be charged the fees (the buyer) because I'm the only person with $$ in the escrow account. Has anyone been in a similar situation?

They won’t cancel it on you. If it goes past the closing date, you can ask to cancel and get your money back.

 

[pianomanzano]

19 days and counting since the seller has received the closing documents. We're getting close to 3 weeks. I'm wondering at what point does the escrow company cancel. And if I will be charged the fees (the buyer) because I'm the only person with $$ in the escrow account. Has anyone been in a similar situation?

I was just in that situation, seller submitted their docs right at the 3 week mark last week. Closing was scheduled for mid October, but I asked the broker to see if there were any existing reservation or anything that could delay closing, and if not, see if the seller was willing to submit docs ASAP for an early closing. I also wired money along with my closing docs (which I learned after the fact is not standard practice). I'd ask the broker to see if they could nudge the seller to do what they need to do to submit, especially if there's any expiring points or banking deadlines approaching.

 

[andyc83]

Home Resort: AKV
Broker: www.dvcresalemarket.com
Title Company: Magic Vacation Title
Offer made: 7/29/2021
Offer accepted: 7/29/2021
Sent to ROFR: 7/30/2021
Passed ROFR: 8/27/2021
Estoppel Received:8/27/2021
Closing docs received:8/27/2021
Closing docs returned: 8/30/2021
Sellers closing docs returned: 8/31/2021
Funds wired: 8/30/21
Closing: 9/1/21
Deed recorded: 9/3/21
Contract Showing on Membership: 9/28/21 (existing member)
Points in account: 10/4/21 (called)

 

[ILoveMyDVC]

Is anyone else disconcerted when they type in their broker and it comes back all stars is because it's blocked?

I sure wish the DIS would keep a list so that we could see why they were blocked to know the extent of the reasoning?
Have they been accused of fraud? Have people reported them difficult to deal with? Does Pete Werner have a personal problem with them or the Disboard?

Inquiring minds spending thousands of dollars wish to know!

 

[Sandisw]

Is anyone else disconcerted when they type in their broker and it comes back all stars is because it's blocked?

I sure wish the DIS would keep a list so that we could see why they were blocked to know the extent of the reasoning?
Have they been accused of fraud? Have people reported them difficult to deal with? Does Pete Werner have a personal problem with them or the Disboard?

Inquiring minds spending thousands of dollars wish to know!

The DiS is a private site and there can be several reasons as to why sites are not allowed.

So, just type the link, and if it ****, then it can’t be discussed. Feel free to email admins@wdwinfo.com.

 

[DisneyMusicMan]

Update. Closed today. 45 days and counting. Not too bad. I’m sure it’ll record in the next day or so, then just the wait for points to load.

Home Resort: BCV
Broker: www.dvcresalemarket.com
Title Company: Magic Vacation Title
Offer made: 8/20/21
Offer accepted: 8/22/21
Sent to ROFR: 8/23/21
Passed ROFR: 9/22/21
Closing docs received: 9/22/21
Closing docs returned: 9/23/21
Seller closing docs returned: 9/29/21
Buyer funds wired: 9/30/21
Closing: 10/4/21
Deed recorded:
Contract Showing on Membership (new member): N/A
Points in account:

Days Total:

 

[DisWeaver]

Home Resort: Animal Kingdom
Broker:
Title Company:
Offer made: 7/27/21
Offer accepted: 7/27/21
Sent to ROFR: 7/28/21
Passed ROFR: 8/26/21
Estoppel received: 8/26/21
Closing docs received: 8/27/21
Closing docs returned: 8/28/21
Sellers docs returned: 09/08/21
Funds sent (domestic wire): 09/08/21
Closing: 09/09/21
Deed recorded: 09/09/21
Contract Showing on Membership (existing member): 10/02/21
Points in account: 10/04/21

Called this morning and had points added.

69 days total

 

[CCV]

Quick update on the time it's taking member administration to load contracts after the deed has been recorded... It looks like they are catching back up after the delays that the July shutdown caused. Here are three data points:

Contract #1 - Deed recorded on 9/9 and took 24 days for membership ID to appear in my account
Contract #2 - Deed recorded on 9/14 and took 21 days for membership ID to appear in my account
Contract #3 - Deed recorded on 9/16 and took 20 days for membership ID to appear in my account

So what was taking 30 plus days in August and September is down to 20 days...

 

[mrmagpi]

Home Resort: Saratoga
Broker: https://www.****************.com
Title Company: Mason
Offer made: 8/20/21
Offer accepted: 8/23/21
Sent to ROFR: 8/31/21
Passed ROFR: 10/2/21
Closing docs received: 10/5/21
Closing docs returned: 10/6/21
Closing:
Deed recorded:
Contract Showing on Membership (new member):
Points in account:

 

[macman123]

Home: PVB
Broker: www.*************.com
Title Company: Mason Title Co
Offer made: 08/25/21
Offer accepted: 08/25/21
Sent to ROFR: 06/30/21
Passed ROFR: 09/28/21
Estoppel Received: ?
Closing docs received: 10/01/21
Closing docs returned: 10/04/21
Funds wired: 10/04/21
Sellers closing docs returned: -
Closing: 10/07/21
Deed recorded:
Contract Showing on Membership:
Points in account:

 

[DisneyMusicMan]

Now just waiting for the new contract to show up in my account (existing member)

Home Resort: BCV
Broker: www.dvcresalemarket.com
Title Company: Magic Vacation Title
Offer made: 8/20/21
Offer accepted: 8/22/21
Sent to ROFR: 8/23/21
Passed ROFR: 9/22/21
Closing docs received: 9/22/21
Closing docs returned: 9/23/21
Seller closing docs returned: 9/29/21
Buyer funds wired: 9/30/21
Closing: 10/4/21
Deed recorded: 10/6/21
Contract Showing on Membership (new member):
Points in account:

Days Total:

 

[jbreen2010]

Quick update on the time it's taking member administration to load contracts after the deed has been recorded... It looks like they are catching back up after the delays that the July shutdown caused. Here are three data points:

Contract #1 - Deed recorded on 9/9 and took 24 days for membership ID to appear in my account
Contract #2 - Deed recorded on 9/14 and took 21 days for membership ID to appear in my account
Contract #3 - Deed recorded on 9/16 and took 20 days for membership ID to appear in my account

So what was taking 30 plus days in August and September is down to 20 days...

Thanks, this is good to know! I'm at day 9 of waiting and already feeling antsy.
I wish they would give you the option to expedite the service if you wanted...like if i could pay extra for Fedex overnight vs just Fedex ground LOL

I would gladly pay as I have 144 points that will expire if unused January 31st and I know availability to book right now is pretty limited. I actually emailed member administration & they actually got back to me pretty quick saying that their current processing times are 3-6 weeks with an additional 1 week for loading the points....so this seems to align with what you shared above.

 

[macman123]

Home: PVB
Broker: www.*************.com
Title Company: Mason Title Co
Offer made: 08/25/21
Offer accepted: 08/25/21
Sent to ROFR: 06/30/21
Passed ROFR: 09/28/21
Estoppel Received: ?
Closing docs received: 10/01/21
Closing docs returned: 10/04/21
Funds wired: 10/04/21
Sellers closing docs returned: -
Closing: 10/07/21
Deed recorded:10/08/21
Contract Showing on Membership:
Points in account:

 

[kanerf]

Home Resort: BLT
Broker: DVCbyResale
Title Company: J Sweet Law
Offer made: 8/21/21
Offer accepted: 8/22/21
Sent to ROFR: 9/19/21 (Delayed due to an issue with seller)
Passed ROFR: 10/8/21
Closing docs received: 10/12/2021
Closing docs returned buyer: 10/13/2021
Closing docs returned seller: 11/9/2021
Closing: 11/9/2021
Deed recorded: 11/23/2021
Contract Showing on Membership (existing member): 11/25/2021
Points in account: 11/26/2021 (Called Member Services)

 

[zachatak]

Home Resort: AKV
Broker: www.fidelityrealestate.com
Title Company: Mason
Offer made: 8/11/21
Offer accepted: 8/11/21
Sent to ROFR: 8/12/21
Passed ROFR: 9/9/21
Closing docs received: 9/10/21
Closing docs returned: 9/10/21
Seller closing docs returned: 9/13/21
Buyer funds wired: 9/13/21
Closing: 9/17/21
Deed recorded: 9/21/21
Contract Showing on Membership (existing member): 10/8/21
Points in account: 10/22/21 (called)

Days Total: 72

 

[Sunnyore]

Home Resort: AKV
Broker: www.fidelityrealestate.com
Title Company: Mason
Offer made: 8/11/21
Offer accepted: 8/11/21
Sent to ROFR: 8/12/21
Passed ROFR: 9/9/21
Closing docs received: 9/10/21
Closing docs returned: 9/10/21
Seller closing docs returned: 9/13/21
Buyer funds wired: 9/13/21
Closing: 9/17/21
Deed recorded: 9/21/21
Contract Showing on Membership (existing member): 10/8/21
Points in account:

Days Total:

Ooo the time from deed recorded to contract showing is getting shorter and shorter!! Guess I’ll start checking sooner even though I’m only on day 9.

 

[DaveNan]

Ooo the time from deed recorded to contract showing is getting shorter and shorter!! Guess I’ll start checking sooner even though I’m only on day 9.

My deed was recorded on 9/22 and I got an email this evening at 6:30 that my contract was added (and it was on my dashboard with 0 points). I had checked on the website earlier today and it was not there. So, I don't think you need to check regularly. Just look for the email.

 

[DaveNan]

Home Resort: BWV
Broker: http://fidelityresales.com/
Title Company: Mason
Offer made: 8/3/21
Offer accepted: 8/4/2021
Sent to ROFR: 8/6/2021
Passed ROFR: 9/8/2021
Closing docs received: 9/8/2021
Closing docs returned Buyer: 9/8/2021
Closing docs returned Seller: 9/15/2021
Transfer of funds: 9/15/2021
Closing: 9/21/2021
Deed recorded: 9/22/2021
Contract Showing on Membership (existing member): 10/8/2021
Points in account:

Days Total:

Now, do I call to get the points added or just wait one more weekish? Oct UY with 106 banked points I need to used by 9/30/2022....