Closing Time!!

[texanlawyer]

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

 

[TexasChick123]

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.

 

[DduzDis]

No, we haven't closed yet. Still waiting on the sellers to return closing docs. They are international so we expected some delay. Hopefully soon though. We're at 2.5 weeks since we received docs so far.

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.

 

[sndral]

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

 

[DduzDis]

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

Congratulations! Won't be long now.

 

[TexasChick123]

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. :/

 

[crvetter]

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. :/

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.

 

[vanjust14]

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!

 

[DduzDis]

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!

Congratulations!!

 

[DduzDis]

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...

 

[anomamatt]

I’m jealous, we received our closing documents 3/1 as well and I’m still waiting....

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.

 

[DduzDis]

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.

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.

 

[anomamatt]

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.

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.

 

[DduzDis]

I know they need a notary (which can be a pain), but over three weeks is getting crazy.

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.

 

[sndral]

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.

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.

 

[DduzDis]

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.

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.

 

[anomamatt]

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.

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...

 

[sndral]

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...

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.

 

[mrsg00fy]

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.

 

[dumaresq]

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.

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