Closing Time!!

Discussion in 'Purchasing DVC' started by Buzzalot, Mar 23, 2015.

  1. texanlawyer

    texanlawyer Earning My Ears

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    Finally done with my 50 point add-on. Other than waiting on the ROFR waiver, this moved pretty quickly. I was pleased with both the broker and the title company.

    Home: BLT
    Broker: DVC by Resale
    Title Company: Jeffrey C. Sweet
    Offer made: 1/15/19
    Offer accepted: 1/15/19
    Sent to ROFR: 1/16/19
    Passed ROFR: 2/19/19
    Closing docs received: 2/25/19
    Buyer’s closing docs returned: 2/26/19
    Seller’s closing docs returned: 2/28/19
    Closing: 2/28/2019
    Deed recorded on OC site: 3/1/19
    Contract Visible on member site: 3/8/19
    Points in my account: 3/12/19
     
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  2. TexasChick123

    TexasChick123 Always Dreaming of Our Next Vacation

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    Update:

    Home: VGC
    Broker: DVC Sales
    Title Company: Mason Title
    Offer made: 2/10/19
    Offer accepted: 2/10/19
    Sent to ROFR: 2/12/19
    Passed ROFR: 2/28/19
    Closing docs received: 3/7/2019
    Buyer’s closing docs returned: 3/11/19 (I sent them back the next day, but it was a Friday, so they didn’t arrive until Monday)
    Seller’s closing docs returned: 3/11/19
    Closing: 3/12/19
    Deed recorded on OC site: TBD
    Contract Visible on member site: TBD
    Points in my account: TBD

    This was pretty fast! We went from offer accepted to closed in 30 days. This is the fastest one yet for me. :)
     
  3. Avatar

    DIS Sponsor Disney Vacation Club Resales www.dvcstore.com


  4. DduzDis

    DduzDis DIS Veteran

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    Just noticed today that the week we were looking at this year is beginning to fill up. Now the wait gets more frustrating... I think that SW:GE opening announcement is going to put a lot of pressure on availability for the EP resorts now. Sure would be nice to have the points for the 11-month advantage right now. Meh.
     
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  5. sndral

    sndral DIS Veteran

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    Update II
    Home: AKV
    Broker: The Timeshare Store
    Title Company: Mason
    Offer made: 2/3/19
    Offer accepted: 2/3/19
    Sent to ROFR: 2/3/19
    Passed ROFR: 2/28/19
    Closing docs received:3/1/19
    Closing docs returned: 3/2/19 via email
    Funds sent: 3/1/19 via wire - received by Mason 3/5/19
    Seller returned closing docs: 3/8/19
    Closing: 3/13/2019
    Deed recorded on OC site: 3/13/19
    Contract Visible on member site:
    Points in my account:
    Now to start stalking the member site to see when it shows :)
     
    Last edited: Mar 13, 2019
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  6. DduzDis

    DduzDis DIS Veteran

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    Congratulations! Won't be long now.
     
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  7. TexasChick123

    TexasChick123 Always Dreaming of Our Next Vacation

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    2nd Update:

    Home: VGC
    Broker: DVC Sales
    Title Company: Mason Title
    Offer made: 2/10/19
    Offer accepted: 2/10/19
    Sent to ROFR: 2/12/19
    Passed ROFR: 2/28/19
    Closing docs received: 3/7/2019
    Buyer’s closing docs returned: 3/11/19 (I sent them back the next day, but it was a Friday, so they didn’t arrive until Monday)
    Seller’s closing docs returned: 3/11/19
    Closing: 3/12/19
    Deed recorded on OC site: 3/12/19
    Contract Visible on member site: TBD
    Points in my account: TBD

    Apparently, it closed and was recorded on the same day. Whoo hoo! Now, I get to wait in points to show up. Probably another couple of weeks. :/
     
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  8. crvetter

    crvetter DIS Veteran

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    Jealous I'm waiting for my VGC to close. Seller's returned their documents but Title Company is taking a bit of time it seems. But good to know California is recording deeds quickly.
     
  9. vanjust14

    vanjust14 DIS Veteran

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    Final Update:

    Home: AKV
    Broker: DVC Resale Market
    Title Company: Magic Vacation Title
    Offer made: 1/11/19
    Offer accepted: 1/12/19
    Sent to ROFR: 1/15/19
    Passed ROFR: 2/11/19
    Closing docs received:2/18/19
    Closing docs returned: 2/27/19 overnight mail
    Seller returned closing docs:2/28/19
    Closing: 3/1/19
    Deed recorded on OC site: 3/4/19
    Contract Visible on member site: 3/15/19
    Points in my account:3/15/19

    I got my membership number over the phone today and was able to get online. I was surprised the points were there also. When I called Monday, my number still wasn't available. Anyway, glad to officially be a member now!
     
  10. DduzDis

    DduzDis DIS Veteran

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    Congratulations!!
     
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  11. DduzDis

    DduzDis DIS Veteran

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    Has anyone had experience with mail from Australia? We were told on 3/5 (could have been sooner; that's just when I checked in) that the closing docs were executed and mailed, but the closing office still has not received them as of this morning. I realize it's on the other side of the globe, but that still seems like a long time...
     
  12. anomamatt

    anomamatt Fastpass+ Strategist

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    My sellers are domestic and have had the documents since 2/22. Three weeks and still waiting for the sellers to return their docs. Meanwhile, the contract has double August UY18 points (UY17 banked into UY18)... It would have been nice to have the option to bank some of the UY18 by 3/31 (that isn't happening at this point). I'm getting frustrated with the delay, but I know legally they can wait even longer (not sure why they would and don't want the $$$ ASAP). I asked the broker (DVC resale market) to find out what the seller's timeframe was, because I'd like to best plan how to use the UY18 points.
     
  13. DduzDis

    DduzDis DIS Veteran

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    It's one thing to be delayed in the process for ROFR and estoppel/closing docs, but to be held up by the sellers is far more frustrating.
     
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  14. anomamatt

    anomamatt Fastpass+ Strategist

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    Exactly. One can plan for those always built-in delays, but I didn't expect the sellers to take 3 weeks and counting to return the docs. I know they need a notary (which can be a pain), but over three weeks is getting crazy.
     
  15. DduzDis

    DduzDis DIS Veteran

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    Outside of a family emergency/crisis of some sort (Heaven forbid) there is no reason in my mind with a UPS store on every corner that offers notary services and expedited mail delivery why it should take that long in the US.
     
  16. sndral

    sndral DIS Veteran

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    Sometimes the sellers have to bring money to the table to close (eg they owe more on the mortgage on the points + commission than the price you’re paying) which can slow things down. Hopefully your agent gets back to you w/ answers. Your contract should have a close by date, as long as the sellers doc.s are in before that date you should be good.
     
  17. DduzDis

    DduzDis DIS Veteran

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    Our contract states that our close by date is 3/18/19 'unless the date is extended by closing company for administrative reasons'. I think this could fall under the same if the contract was written similarly. We have the rest of today and Monday before ours goes past the close by date, but I imagine our closing company would/will/did extend our date.
     
  18. anomamatt

    anomamatt Fastpass+ Strategist

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    Understood. In my case, the sellers bought their contract resale for ~25% less than I'm paying and no mortgage was recorded per Orange County. I do realize they have until the date agreed upon (which was 90 days from submission to ROFR, April 16th), and I also realize that an emergency might have come up... but it's still frustrating that three weeks after I sent in the cashier's check, I'm still waiting on their documents. But yeah, not much to do but wait...
     
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  19. sndral

    sndral DIS Veteran

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    I can relate - w/ my first contract back in 2013, the sellers took forever, it was so frustrating, and since it was my first I was just generally a bit more anxious about the whole process, I did kick myself for paying to wire the money to get things done faster, my money could have been sent via pony express and still beat the sellers documents lol.
     
  20. mrsg00fy

    mrsg00fy DIS Veteran

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    It seems that many are receiving closing docs pretty quickly after passing ROFR. We have been waiting two weeks now. We bought with Fidelity and given their attitude when I called to inquire....I would not use them again. They have a standard response which is estoppel takes three to four weeks.

    That doesn’t seem to be folks’ experience in this thread.
     
  21. dumaresq

    dumaresq Earning My Ears

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    Same thing with my company, but I think it has more to do with the title company then the resale company
     
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