Closing Time!!

[gharter]

An update....after waiting all this time, the sellers finally sent an email today that they were having 2nd thoughts about selling??!! WTH, I understand contracts fall through, but I think it's awfully dirty to string someone along since April if they were having 2nd thoughts! I sent all funds in on June 16. They have until the end of the week to let us know something, otherwise we are under no further obligation and can walk away. Not feeling very hopeful and very disappointed.

That sucks. have you started looking at other contracts? From what I'm reading, it sounds like some of the contracts are going for less than previous, so you might be able to save some money. But you also lost a few months waiting. Hope everything works out for you. good luck!

 

[DizBub]

This is so wrong. I hope that the broker informs the sellers that even if they back out they will be charged the appropriate fees due for fulfilling the sale of their property.

It stinks that you may have to start all over at this point. Sorry this is happening to you.

 

[Matty B13]

The silver lining right now is that there are a ton of contracts out there and you should be able to get it cheaper than you could have in April. https://**********.com/ Has a lot of listing at various brokers. If we were putting in a bid right now we would have put it in for $125/ppt instead of $145/ppt for VGF

 

[CMNJ]

The silver lining right now is that there are a ton of contracts out there and you should be able to get it cheaper than you could have in April. https://**********.com/ Has a lot of listing at various brokers. If we were putting in a bid right now we would have put it in for $125/ppt instead of $145/ppt for VGF

I think the OP was buying a smaller BWV which unfortunately seem to still have higher prices and not a lot of availability right now-I have a friend who wants to add on there but has been having trouble finding something reasonable with a smaller number of points

 

[Deb123]

So we have until 7/16 for our legal obligations to be over with this contract and then we can walk away. Which is obviously what we'll have to do since the seller's are looking like they aren't going through with this. They've pretty much been ignoring our broker. It really upsets me because I think it's dirty as no other to not inform a buyer that you aren't going through with the contract this late in the game. We passed ROFR, we went through estoppel, we got our closing docs and sent in all funds in full right away. Only then to have the sellers just go MIA. Even letting us know something a month ago, would've been better than this mess. And yeah, this was a 100 pt BWV contract. These are hard to come by and don't come on the market that often. Also, we wanted to be able to book our 2017 F&W trip right at the 11 mth window. Now, we'll have to start all over and we will loose the 11 mth advantage doing so. Just really feeling bummed!

 

[DizBub]

Today is day 12 after recording with the county for me. I am really looking forward to seeing that contract show up in our account. Maybe today is the day.....

Just checked and the contract showed up this morning. Points aren't loaded yet but we are sooo close.

I was starting to think they lost it.

 

[DizBub]

So we have until 7/16 for our legal obligations to be over with this contract and then we can walk away. Which is obviously what we'll have to do since the seller's are looking like they aren't going through with this. They've pretty much been ignoring our broker. It really upsets me because I think it's dirty as no other to not inform a buyer that you aren't going through with the contract this late in the game. We passed ROFR, we went through estoppel, we got our closing docs and sent in all funds in full right away. Only then to have the sellers just go MIA. Even letting us know something a month ago, would've been better than this mess. And yeah, this was a 100 pt BWV contract. These are hard to come by and don't come on the market that often. Also, we wanted to be able to book our 2017 F&W trip right at the 11 mth window. Now, we'll have to start all over and we will loose the 11 mth advantage doing so. Just really feeling bummed!

This is really hard but try to wait it out, it's 5 more days. The sellers may come to their senses when they realize they will owe fees and commisson to the broker and they will have to pay money out of pocket to keep their contract. What a waste for all involved. Fingers crossed for you.

 

[JESSketeer]

It was a LONG 90 days, but we're finally done! Such an emotional roller coaster, but @FirstTimeDisneyVisit and I are beyond excited to finally be official DVC owners!

Here's our final timeline:

Sent for ROFR: 4/9
Passed ROFR: 5/7
Received closing docs: 6/10
Funds overnighted: 6/11
Closed: 6/14
Deed Recorded: 6/15
Received Membership # in the mail: 7/8

Good luck to everyone still in progress - hang in there!!

 

[Tardisblue]

It was a LONG 90 days, but we're finally done! Such an emotional roller coaster, but @FirstTimeDisneyVisit and I are beyond excited to finally be 'official' DVC owners!

Here's our final timeline:

Sent for ROFR: 4/9
Passed ROFR: 5/7
Received closing docs: 6/10
Funds overnighted: 6/11
Closed: 6/14
Deed Recorded: 6/15
Received Membership # in the mail: 7/8

Good luck to everyone still in progress - hang in there!!

Congrats! Exactly 90 days start to finish. Hope we receive our member # by end of the month.

 

[JESSketeer]

Congrats! Exactly 90 days start to finish. Hope we receive our member # by end of the month.

Thank you! Yes, right at the 90 day mark! Good luck to you, I hope you get your member # real soon!

 

[ruthma]

I closed today. Magic vacation title. She said I would get membership info in approximately 2 weeks. I am already a member so maybe sooner. I don't know.

Time line

Submitted 5/29
Passed 6/22
Received closing document 7/1
Sent doc/Funds 7/7
Closed 7/10

Pretty fast I think.

 

[Tardisblue]

I closed today. Magic vacation title. She said I would get membership info in approximately 2 weeks. I am already a member so maybe sooner. I don't know.

Time line

Submitted 5/29
Passed 6/22
Received closing document 7/1
Sent doc/Funds 7/7
Closed 7/10

Pretty fast I think.

Super fast - you could go start to finish in under 60 days, which is the fastest I've seen since I've been watching this.

 

[firerunner1965]

Ohh so excited!! Hoping ours comes in soon.. good to see others are getting the numbers

 

[Deb123]

This is so wrong. I hope that the broker informs the sellers that even if they back out they will be charged the appropriate fees due for fulfilling the sale of their property.

It stinks that you may have to start all over at this point. Sorry this is happening to you.

This is really hard but try to wait it out, it's 5 more days. The sellers may come to their senses when they realize they will owe fees and commisson to the broker and they will have to pay money out of pocket to keep their contract. What a waste for all involved. Fingers crossed for you.

I asked my broker about the seller's fees today and he said that yes they would be charged, but that they could only do so much to try and collect those fees. He didn't sound hopeful either that they would even be able to collect. My question is what will the seller's be charged to keep their contract? Anyone have experience with this?

 

[ImagineerTHAT]

Second purchase, sold the first one.

Sent 4/25
Passed 5/18
Closing Docs 6/15
Closed 6/22

Last time I was able to call 4-5 times and get the member number. This time I think I'm going to wait...no points until 12/1 anyway!

Just received my member number today...called in for activation, signed in, booked my VWL stay in January! Pretty painless process this time around. Good luck to everyone else!

Sent 4/25
Passed 5/18
Closing Docs 6/15
Closed 6/22
Received Member ID 7/11

 

[rickste]

It was a LONG 90 days, but we're finally done! Such an emotional roller coaster, but @FirstTimeDisneyVisit and I are beyond excited to finally be official DVC owners!

Here's our final timeline:

Sent for ROFR: 4/9
Passed ROFR: 5/7
Received closing docs: 6/10
Funds overnighted: 6/11
Closed: 6/14
Deed Recorded: 6/15
Received Membership # in the mail: 7/8

Good luck to everyone still in progress - hang in there!!

Congrats, we were recorded pn 6/22 so a full week behind you so hopefully by the 15th we will have our member #.

 

[bestdayever09]

Sent for ROFR: 5/2
Passed ROFR: 5/27
Received closing docs: 6/15
Closing Docs received by ***: 6/17
Closed: 6/20
Deed Recorded: 6/21
Contract Added to my DVC account: 7/5
Points loaded into my account for booking: Afternoon of 7/6

Yay! I am finally done!!!!!!!! I booked at my home resort (VGF) for most of the rest of my next vacation, but had to waitlist one day. I'm on another vacation somewhere else, so no clue if I have received any snail mail from DVC about it. I did get a random e-mail welcoming me to the club the day before I saw my contract loaded.Good luck to you all!

Officially completed the resale process, and received letter with member number on 7/9 (which was the one I already had since it was the same resort and use year as before).

The whole process took us a little over 2 months, not bad!.

 

[DizBub]

I asked my broker about the seller's fees today and he said that yes they would be charged, but that they could only do so much to try and collect those fees. He didn't sound hopeful either that they would even be able to collect. My question is what will the seller's be charged to keep their contract? Anyone have experience with this?

This did happen to us a few years ago. Our broker said that the sellers would be charged the commission and fees but I don't know if they ever collected a dime. She also said that they would never take a listing from them again. I know that isn't much.....seems like a signed contract should be legal.

The same thing happened when we bought our house, the sellers tried to back out right before closing. Our agency threatened to take them to court because they had signed a binding contract. Sellers backed down when faced with a law suit.

 

[Perelandra]

So we have until 7/16 for our legal obligations to be over with this contract and then we can walk away. Which is obviously what we'll have to do since the seller's are looking like they aren't going through with this. They've pretty much been ignoring our broker. It really upsets me because I think it's dirty as no other to not inform a buyer that you aren't going through with the contract this late in the game. We passed ROFR, we went through estoppel, we got our closing docs and sent in all funds in full right away. Only then to have the sellers just go MIA. Even letting us know something a month ago, would've been better than this mess. And yeah, this was a 100 pt BWV contract. These are hard to come by and don't come on the market that often. Also, we wanted to be able to book our 2017 F&W trip right at the 11 mth window. Now, we'll have to start all over and we will loose the 11 mth advantage doing so. Just really feeling bummed!

I feel for you. That is brutal. I am in sales and often crazy things happen at the 11th hour, so hang in there, it may not be over yet. Still Tom Petty nailed it when he said the waiting is the hardest part, especially when you throw in uncertainty.

 

[Perelandra]

Deb, you also just put a bunch of fear into me! I just passed ROFR today and figured I was home free. You just gave me a reminder that it's not over until it's all closed and the points are in the account.