Closing Time!!

[Doug Olsen]

Nope. I called on Monday, spoke with Member Administration, and did not have to provide SS.

Good to know, thanks!

 

[TK-Tampa]

1st Update:
Home: Beach Club
Broker: The Timeshare Store
Title Company: Mason Title
Offer made: 2/20/19
Offer accepted: 2/20/19
Sent to ROFR: 2/20/19
Passed ROFR: 3/5/19
Closing docs received: 3/13/19
Buyer’s closing docs returned: 3/19/19
Seller’s closing docs returned: 3/20/19
Closing: 3/20/19
Deed recorded on OC site: 3/20/19
Contract Visible on member site: ??
Points in my account: ??

28 Days!! And I delayed it 5 days myself by moving funds around to get a cashier's check together and having to FedEx the docs over the weekend.

 

[cep101]

Home: Animal Kingdom Villas
Broker: Fidelity
Title Company: First American Title Insurance Company
Offer made: 1/8/19
Offer accepted: 1/8/19 (we increased our offer after this though due to Jan changes)
Sent to ROFR: 1/16/19
Passed ROFR: 2/13/19
Closing docs received: 3/11/19
Buyer’s closing docs returned: 3/13/19
Seller’s closing docs returned: 3/15/19
Closing: 3/19/19
Deed recorded on OC site: 3/19/19
Contract Visible on member site: ??
Points in my account: ??

Alright, so this is a bit of a crazy story. We submitted our offer and it got accepted, but we decide to increase the offer since we felt like it wouldn't pass ROFR. We really wanted it to pass due to the January DVC changes, and I hadn't seen any really pass for the amount we were originally paying.

It passed ROFR, and I got notified of that by our Fidelity person. They said it could take 2-3 weeks to get the closing documents. Throughout these weeks I followed up making sure I didn't miss an e-mail. Fidelity waits for estoppel to come back from Disney, and I was told that is why it was dragging on... Once we got past the three week mark I was getting impatient. Our friends who had their offer sent to ROFR through a different company had already closed and gotten their points by this point! They had only gotten their offer sent to Disney two days-ish before ours was sent. It wasn't adding up.

I reached out to our Fidelity representative, and got the title company's information so I could call them. On Fidelity's end, they didn't have any updates, so they believed that they were still waiting on Disney for estoppel paperwork. I called the title company rep and left a voicemail. I didn't hear back, so I tried calling again and got the person on the phone. They informed me that they received the estoppel paperwork on the 19th of February and had sent the closing paperwork to Fidelity for approval then. They haven't heard anything back since. I explained that Fidelity was saying they were waiting on them and asked her to reach out to Fidelity to get it figured out.

I reached out to our Fidelity rep again and told her about my conversation with the title company rep. She said they did receive the closing documents, but there was an error so they JUST sent them back to the title company. Gah. After a couple more days I got the closing documents. Both parties were quick to sign, but the sellers didn't do their paperwork correctly so they had to redo it. Still, they were quite quick about it which I appreciate.

It seems like Fidelity had gotten our closing documents on the 19th of February, and they got lost in the shuffle until I started calling/e-mailing in active search of them. So, it took a good three extra weeks for us to close due to all of this. Not fun.

 

[ThinkBelieveDream&Dare]

Home: Bay Lake Tower
Broker: DVC Resale Market
Title Company: Magic Vacation Title
Offer made: 1/05/19
Offer accepted: 1/06/19
Sent to ROFR: 1/08/19
Passed ROFR: 1/25/19
Closing docs received:2/5/19
Closing docs returned:2/6/19
Closing docs returned (seller): 3/15/19 (finally!)
Closing: 3/20/19
Deed recorded:
Contract Visible:
Points in my account:

I was getting nervous. Seller took forever to return docs. I was told three different times docs were in the mail only to found out they weren’t. Almost there!

Glad it's finally happening for you @WIDisCruiser , we closed the day before you so hopefully we'll both get our accounts sorted and points allotted around the same time good Luck

 

[ThinkBelieveDream&Dare]

Home: Animal Kingdom Villas
Broker: Fidelity
Title Company: First American Title Insurance Company
Offer made: 1/8/19
Offer accepted: 1/8/19 (we increased our offer after this though due to Jan changes)
Sent to ROFR: 1/16/19
Passed ROFR: 2/13/19
Closing docs received: 3/11/19
Buyer’s closing docs returned: 3/13/19
Seller’s closing docs returned: 3/15/19
Closing: 3/19/19
Deed recorded on OC site: 3/19/19
Contract Visible on member site: ??
Points in my account: ??

Alright, so this is a bit of a crazy story. We submitted our offer and it got accepted, but we decide to increase the offer since we felt like it wouldn't pass ROFR. We really wanted it to pass due to the January DVC changes, and I hadn't seen any really pass for the amount we were originally paying.

It passed ROFR, and I got notified of that by our Fidelity person. They said it could take 2-3 weeks to get the closing documents. Throughout these weeks I followed up making sure I didn't miss an e-mail. Fidelity waits for estoppel to come back from Disney, and I was told that is why it was dragging on... Once we got past the three week mark I was getting impatient. Our friends who had their offer sent to ROFR through a different company had already closed and gotten their points by this point! They had only gotten their offer sent to Disney two days-ish before ours was sent. It wasn't adding up.

I reached out to our Fidelity representative, and got the title company's information so I could call them. On Fidelity's end, they didn't have any updates, so they believed that they were still waiting on Disney for estoppel paperwork. I called the title company rep and left a voicemail. I didn't hear back, so I tried calling again and got the person on the phone. They informed me that they received the estoppel paperwork on the 19th of February and had sent the closing paperwork to Fidelity for approval then. They haven't heard anything back since. I explained that Fidelity was saying they were waiting on them and asked her to reach out to Fidelity to get it figured out.

I reached out to our Fidelity rep again and told her about my conversation with the title company rep. She said they did receive the closing documents, but there was an error so they JUST sent them back to the title company. Gah. After a couple more days I got the closing documents. Both parties were quick to sign, but the sellers didn't do their paperwork correctly so they had to redo it. Still, they were quite quick about it which I appreciate.

It seems like Fidelity had gotten our closing documents on the 19th of February, and they got lost in the shuffle until I started calling/e-mailing in active search of them. So, it took a good three extra weeks for us to close due to all of this. Not fun.

Oh wow! what a fiasco... really hope the next stages go smoothly for you @cep101 good luck

 

[ThinkBelieveDream&Dare]

1st Update:
Home: Beach Club
Broker: The Timeshare Store
Title Company: Mason Title
Offer made: 2/20/19
Offer accepted: 2/20/19
Sent to ROFR: 2/20/19
Passed ROFR: 3/5/19
Closing docs received: 3/13/19
Buyer’s closing docs returned: 3/19/19
Seller’s closing docs returned: 3/20/19
Closing: 3/20/19
Deed recorded on OC site: 3/20/19
Contract Visible on member site: ??
Points in my account: ??

28 Days!! And I delayed it 5 days myself by moving funds around to get a cashier's check together and having to FedEx the docs over the weekend.

That's incredible timing @TK-Tampa - really pleased it went so well for you

 

[ThinkBelieveDream&Dare]

1st Update:
wow! our deed was recorded the same day as closing whooohooo almost there
Home: AKV
Broker: The Timeshare Store
Title Company: Mason Title
Offer made: 1/29/19
Offer accepted: 1/29/19
Sent to ROFR: 1/31/19
Passed ROFR: 2/28/19
Closing docs received:3/4/19
Closing docs returned: 3/7/19 via email
Funds sent: 3/7/19 via wire
Seller returned closing docs: 3/18/19
Closed: 3/19/19
Deed recorded on OC site: 3/19/2019
Contract Visible on member site:
Points in my account:

 

[teachertink]

My contract must have just loaded. I was tied up this morning, and I just checked a few minutes before I posted. I just got back on my computer to finish up some work, refreshed the site before diving back into my abyss of work, and there was my contract. The woman did tell me that it is taking them 5 days to load points after the contract shows up just to give everyone a heads up.

Is this the timeline for people that already have a DVC account or are new accounts about the same?

 

[TexasChick123]

Is this the timeline for people that already have a DVC account or are new accounts about the same?

I already have an account. I believe all the info is input based on the date they received all the documentation from the title company. Whether you’re a member already or not shouldn’t have any bearing on when it is input. However, I can already log on and just see the information because I’m an existing member with online access whereas a new member would have to ge their activation code and member ID either in the mail or by calling before being able to log on.

 

[teachertink]

Home: Saratoga Springs
Broker: Resales DVC
Title Company: Jeffrey Sweet
Offer made: 1/18/19
Offer accepted: 1/18/19
Sent to ROFR: 1/18/19
Passed ROFR: 2/13/19
Closing docs received: 2/21/19
Buyer’s closing docs returned: 2/23/19
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: ??
Points in my account: ??

*** I called Member Administration this morning, they told me it takes 2 weeks to load the membership information. They received my contract on 3/13/19. I am going to call towards the end of the day to see if anything has changed.

 

[MissLiss279]

Home: Saratoga Springs
Broker: Resales DVC
Title Company: Jeffrey Sweet
Offer made: 1/18/19
Offer accepted: 1/18/19
Sent to ROFR: 1/18/19
Passed ROFR: 2/13/19
Closing docs received: 2/21/19
Buyer’s closing docs returned: 2/23/19
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: ??
Points in my account: ??

*** I called Member Administration this morning, they told me it takes 2 weeks to load the membership information. They received my contract on 3/13/19. I am going to call towards the end of the day to see if anything has changed.

They told me the same thing when I called on the morning of the 15th (my deed was recorded on the 7th, so same 8/9 days after). The 15th was a Friday. I called again on Monday, the 18th, and she told me it had been transferred on Friday (I’m guessing sometime after I called), I got my member ID/club ID, was transferred to MS, and got my activation code. When I logged on, my points were there too!

I think if you call near the end of the day, you may be right that it could be set up. Good luck!

 

[dumaresq]

2nd Update:
Home: SSR
Broker: DVC Resale Market
Title Company: Magic Vacation Title
Offer made: 2/01/19
Offer accepted: 2/01/19
Sent to ROFR: 2/07/19
Passed ROFR: 3/01/19
Closing docs received: 3/15/19
Buyer’s closing docs returned: 3/15/19
Seller’s closing docs returned: 3/20/19
Closing: ???
Deed recorded on OC site: ???
Contract Visible on member site: ???
Points in my account: ???

 

[bealne]

Hello! We just sent our closing documents and payment today. How do you know when seller has returned them, deed recorded, etc? Do you have to call or do you get notified step by step? Thanks all!

 

[ThinkBelieveDream&Dare]

Hello! We just sent our closing documents and payment today. How do you know when seller has returned them, deed recorded, etc? Do you have to call or do you get notified step by step? Thanks all!

Hello @bealne we got an email from our broker after wiring the funds to the title company, it explained the process from then onwards..
We already knew we couldn't close until 19th March. The seller had stipulated that date at the outset of negotiations, but it was comforting to know that the funds had arrived safely.
I don't know if other companies do the same so if you don't get notification of receipt you could try phoning the broker or sending an email.
Good luck, hope it all goes well for you

I Also found this explaining the procedure really well here:
https://www.disboards.com/threads/closing-procedures.3126213/#post-48671513

 

[dumaresq]

I was impatient so I sent a mail to my broker and my title company contact and my broker wrote back to tell me... My title company is slow (I wish I had known this before I started, I would have picked a different one) I hope they close today, but I don't expect it until sometime next week given their prior speeds.

 

[bealne]

Hello @bealne we got an email from our broker after wiring the funds to the title company, it explained the process from then onwards..
We already knew we couldn't close until 19th March. The seller had stipulated that date at the outset of negotiations, but it was comforting to know that the funds had arrived safely.
I don't know if other companies do the same so if you don't get notification of receipt you could try phoning the broker or sending an email.
Good luck, hope it all goes well for you

I Also found this explaining the procedure really well here:
https://www.disboards.com/threads/closing-procedures.3126213/#post-48671513

Thanks

 

[ThinkBelieveDream&Dare]

Thanks

You're welcome - hope you find the link useful @bealne

 

[sndral]

Home: Bay Lake Tower
Broker: DVC Resale Market
Title Company: Magic Vacation Title
Offer made: 1/05/19
Offer accepted: 1/06/19
Sent to ROFR: 1/08/19
Passed ROFR: 1/25/19
Closing docs received:2/5/19
Closing docs returned:2/6/19
Closing docs returned (seller): 3/15/19 (finally!)
Closing: 3/20/19
Deed recorded:
Contract Visible:
Points in my account:

I was getting nervous. Seller took forever to return docs. I was told three different times docs were in the mail only to found out they weren’t. Almost there!

Wow, you take the prize for the slowest sellers this year
My grandmother used to tell me ‘good things come to those who wait’ but waiting 37 days for sellers to get doc.s back would have made me nervous too!

Update on my AKV add on that closed 9 days ago - the new contract is still not visible in my account.

 

[DduzDis]

Wow, you take the prize for the slowest sellers this year
My grandmother used to tell me ‘good things come to those who wait’ but waiting 37 days for sellers to get doc.s back would have made me nervous too!

Update on my AKV add on that closed 9 days ago - the new contract is still not visible in my account.

I am not trying to beat 37 but, we are day 27 of the wait for the seller's docs today.

 

[bealne]

You're welcome - hope you find the link useful @bealne

Yes I very much did!! I appreciate it! So anxious to have this process come to an end lol!