Closing Time!!

[LadybugsMum]

anyone know if this will be emailed or mailed?!

You should get an email.

 

[PurdueTodd]

I had the same problem, and finally closed right at the 90 day mark specified on the contract. The sellers had difficulty completing the paperwork in a timely fashion, proving once again that if it was not for the last minute nothing would get done.

So the seller has 90 days to sign closing documents?? I am waiting for the seller to sign, it’s only been two weeks since we received documents. The frustration for me is that I received the documents, signed and wired the money the next day, and crickets is all hearing from the seller. I’m getting the feeling they are getting nervous and having second thoughts.

 

[Sandisw]

So the seller has 90 days to sign closing documents?? I am waiting for the seller to sign, it’s only been two weeks since we received documents. The frustration for me is that I received the documents, signed and wired the money the next day, and crickets is all hearing from the seller. I’m getting the feeling they are getting nervous and having second thoughts.

I think they meant the 90 days the contract listed for a closing date. Once you pass that, as a buyer, you can technically ask to be released from the contract and get your money back.

 

[MBTigger]

So the seller has 90 days to sign closing documents?? I am waiting for the seller to sign, it’s only been two weeks since we received documents. The frustration for me is that I received the documents, signed and wired the money the next day, and crickets is all hearing from the seller. I’m getting the feeling they are getting nervous and having second thoughts.

My contract with www.Fidelityresales.com specified closing within 90 days of the agreement being signed. I was assuming after 90 days I could call the contract void if I wanted to and start looking somewhere else. I was willing to give the sellers a few days grace, but we closed right at the 90 day mark, I reminded my broker a few times that 90 days was specified in the contract and was wondering what options I have if the terms of the contract were broken. I think they knew there was a chance of me bowing out if this did not happen by 90 days....

P.S. With a handle like "PurdueTodd", I think we were possibly on the same campus at different times I went to Grad School in West Lafayette in the 90's...

 

[Madmavis]

Home: SSR
Broker: www.dvcresalemarket.com
Title Company: Magic Vacation Title
Offer made: 05/14/20
Offer accepted: 05/14/20
Sent to ROFR: 05/15/20
Passes ROFR: 06/24/20
Closing docs received: 07/16/20
Closing docs returned: 07/18/20
Closing: 07/28/20
Deed recorded: 07/29/20
Contract showing on membership: 09/25/20
points in account: 09/25/20

I had a delay in receiving my member number and points due to the sellers rescheduling their trip and not telling anyone. I received my member number and points on the same day because of it. So glad the process is finally over. For this contract anyway. I have another I’m going through ROFR right now. I swear I’m done after that one!

 

[E2ME2]

Home: SSR
Broker: www.dvcresalemarket.com
Title Company: Magic Vacation Title
Offer made: 05/14/20
Offer accepted: 05/14/20
Sent to ROFR: 05/15/20
Passes ROFR: 06/24/20
Closing docs received: 07/16/20
Closing docs returned: 07/18/20
Closing: 07/28/20
Deed recorded: 07/29/20
Contract showing on membership: 09/25/20
points in account: 09/25/20

I had a delay in receiving my member number and points due to the sellers rescheduling their trip and not telling anyone. I received my member number and points on the same day because of it. So glad the process is finally over. For this contract anyway. I have another I’m going through ROFR right now. I swear I’m done after that one!

I'm willing to bet you're not done...
We're never done with addonitis!

 

[CarpeDream71]

So we closed on July 28th and still haven’t received our member emails from Disney. Our broker found out today it’s because the sellers who were supposed to take a trip 2 weeks ago rescheduled their trip to the end of this month. Our broker said they’re in breach of contract because it’s not their contract anymore to play around with the points. He said they will need to cancel their trip. My question is what happens to those points? Do we as the buyers get them?

Ask your agent and check your contract, but if they dip into the points you have contracted for, they should owe you $19-$20 per point. If they used the same number of points they were going to use for the scheduled trip and just went two weeks later, I think your remedy is you can get out the contract (if you even want to), but unfortunately, you may not be entitled to points that you haven't contracted for... It seems it would be nice for your trouble, and they certainly shouldn't have messed with a DVC under contract, but if you still want the contract, I think you may have to grit your teeth and let it go...But check with your agent just in case!

 

[Madmavis]

I'm willing to bet you're not done...
We're never done with addonitis!

I have to be. My wallet won’t support that addiction

 

[Madmavis]

Ask your agent and check your contract, but if they dip into the points you have contracted for, they should owe you $19-$20 per point. If they used the same number of points they were going to use for the scheduled trip and just went two weeks later, I think your remedy is you can get out the contract (if you even want to), but unfortunately, you may not be entitled to points that you haven't contracted for... It seems it would be nice for your trouble, and they certainly shouldn't have messed with a DVC under contract, but if you still want the contract, I think you may have to grit your teeth and let it go...But check with your agent just in case!

We had already closed on the contract. No worries though. My broker worked some pixie dust and got our member number and points loaded on Friday. We already booked our welcome home trip!

 

[tweetykl]

And that’s a wrap. Now we need to start planning.

Home: Grand Californian
Broker: Www.dvcstore.com
Title Company: Mason Title
Offer made: 6/28/20
Offer accepted: 6/28/20
Sent to ROFR: 6/29/20
Passed ROFR: 8/3/20
Closing docs received: 8/17/20
Closing docs returned: 8/17/20
Seller returned closing docs: 8/24/20
Closing: 8/26/20
Deed recorded: 8/26/2020
Contract Showing on Membership: 9/22/2020
Points in account: 9/28/2020

 

[HockeyMomNH]

We closed on our SSR contract yesterday. I was surprised at how quickly that happened considering how long the ROFR process took. I expected to be waiting a lot longer. Not complaining though.

I'm in no rush for these points, our UY is Dec and there are no banked points involved so we have plenty of time.

ETA: Our deed was recorded yesterday too, so now we are just waiting on Disney.

 

[E2ME2]

Okay - I'm back in the hunt again!
I couldn't resist picking up some BCV points with my existing Use Year.
All of my current points are at SSR, so this is "new territory" for me.
Even if we only use them every 2nd or 3rd year, it will be a nice addition.
Here goes:

Home: BCV
Broker: www.fidelityresales.com
Title Company: FATC
Offer made: 9/9/2020
Offer accepted: 9/9/2020
Sent to ROFR: 9/16/2020
Passed ROFR:
Closing docs received:
Closing docs returned:
Seller returned closing docs:
Closing:
Deed recorded:
Contract Showing on Membership:
Points in account:

Fingers/Legs/Toes/Eyes-Crossed !

It's only been 12 Days since this was sent to ROFR, and I know it's been taking 4-6 weeks on average.
I try to occupy my mind with other things, and not count every day, but I wind up using that time to look at other resale listings!
What is wrong with me !??

 

[Naglejen]

Does anyone have any insight about what sort of thing could hold up estoppel? ROFR was waived on 9/12, we made a small change to the agreement on 9/15 (seller changed a reservation, so points changed a bit)...but now it’s two weeks later, and as of this morning, no estoppel.

 

[Lorana]

It's only been 12 Days since this was sent to ROFR, and I know it's been taking 4-6 weeks on average.
I try to occupy my mind with other things, and not count every day, but I wind up using that time to look at other resale listings!
What is wrong with me !??

Be careful!! That's how addonitis gets you (because it got me!)...

 

[Naglejen]

Does anyone have any insight about what sort of thing could hold up estoppel? ROFR was waived on 9/12, we made a small change to the agreement on 9/15 (seller changed a reservation, so points changed a bit)...but now it’s two weeks later, and as of this morning, no estoppel.

Oh, I forgot to post the actual timeline!
Home: Animal Kingdom
Broker: www.*************.com
Title Company: TRCS
Offer made: 7/28/20
Offer accepted: 7/28/20
Sent to ROFR: 7/29/20
Passed ROFR: 9/12/20
Addendum signed: 9/15/20
Closing docs received:
Closing docs returned:
Seller returned closing docs:
Closing:
Deed recorded:
Contract Showing on Membership:
Points in account:

 

[macman123]

Be careful!! That's how addonitis gets you (because it got me!)...

Me too. I started with 555 points. Ended up with 1000 !

 

[BigThunderMike]

Excited to receive our membership email this morning. I wasn’t expecting it until next week at the earliest. Seems like things are speeding up. 21 days from closing to get the email. Just need the points to show up now.

Home: AKV
Broker: dvcresalemarket.com
Title Company: Magic Vacation Title
Offer made: 7/16/2020
Offer accepted: 7/16/2020
Sent to ROFR: 7/17/2020
Passed ROFR: 8/25/2020
Closing docs received: 9/1/2020
Closing docs returned: 9/4/2020
Sellers closing docs returned: ?
Closing: 9/8/2020
Deed recorded: 9/9/2020
Contract Showing on Membership: 9/29/2020
Points in account:

TIME TOTAL: 76 days and counting
offer to ROFR: 41 days
ROFR passing to Closing: 15 days
Closing to showing on membership: 21 days
Closing to Points in Account:

sorry, still having problems with it allowing me to post with the link of the broker.

 

[kerrylacherry]

It's only been 12 Days since this was sent to ROFR, and I know it's been taking 4-6 weeks on average.
I try to occupy my mind with other things, and not count every day, but I wind up using that time to look at other resale listings!
What is wrong with me !??

I've been doing the same! It's especially dangerous when I find listings with a matching use year and a decent list price, it's too easy to think about putting in another offer

 

[Lorana]

Excited to receive our membership email this morning. I wasn’t expecting it until next week at the earliest. Seems like things are speeding up. 21 days from closing to get the email. Just need the points to show up now.

Home: AKV
Broker: dvcresalemarket.com
Title Company: Magic Vacation Title
Offer made: 7/16/2020
Offer accepted: 7/16/2020
Sent to ROFR: 7/17/2020
Passed ROFR: 8/25/2020
Closing docs received: 9/1/2020
Closing docs returned: 9/4/2020
Sellers closing docs returned: ?
Closing: 9/8/2020
Deed recorded: 9/9/2020
Contract Showing on Membership: 9/29/2020
Points in account:

TIME TOTAL: 76 days and counting
offer to ROFR: 41 days
ROFR passing to Closing: 15 days
Closing to showing on membership: 21 days
Closing to Points in Account:

sorry, still having problems with it allowing me to post with the link of the broker.

Congrats!!

And this gives me hope that maybe I'll see my CCV 50-point contract on my account soon. (Deed was recorded on 9/10.)

 

[Liquidice]

Excited to receive our membership email this morning. I wasn’t expecting it until next week at the earliest. Seems like things are speeding up. 21 days from closing to get the email. Just need the points to show up now.

Home: AKV
Broker: dvcresalemarket.com
Title Company: Magic Vacation Title
Offer made: 7/16/2020
Offer accepted: 7/16/2020
Sent to ROFR: 7/17/2020
Passed ROFR: 8/25/2020
Closing docs received: 9/1/2020
Closing docs returned: 9/4/2020
Sellers closing docs returned: ?
Closing: 9/8/2020
Deed recorded: 9/9/2020
Contract Showing on Membership: 9/29/2020
Points in account:

TIME TOTAL: 76 days and counting
offer to ROFR: 41 days
ROFR passing to Closing: 15 days
Closing to showing on membership: 21 days
Closing to Points in Account:

sorry, still having problems with it allowing me to post with the link of the broker.

Nice, I closed on 9/10 (deed was recorded the same day). Hoping maybe I will see my contract soon too!