Closing Time!!

[MinnieMe2669]

Updating, finally got the closing documents.

Home: AUL
Broker: www.dvcresalemarket.com
Title Company: First American Vacation Ownership Title and Escrow Services, Inc.
Offer made: 10/01/2020
Offer accepted: 10/01/2020
Sent to ROFR: 10/05/2020
Passed ROFR: 11/03/2020
Closing docs received: 11/17/2020
Closing docs returned: 11/18/2020
Sellers closing docs returned: TBA
Closing: TBA
Deed Recorded: TBA (this is the date sent)
Contract showing on Membership: TBA
Points in account: TBA

Total days from offer to points showing up in my account: TBD

 

[macman123]

Home: SSR
Broker: www.dvcresalemarket.com
Title Company: Magic Title
Offer made: 08/15/2020
Offer accepted: 08/15/2020
Sent to ROFR: 08/16/2020
Passed ROFR: 09/17/2020
Closing docs received: 09/25
Closing docs returned (and funds paid): 10/08
Seller returned closing docs: 11/02
Closing: 11/03
Deed recorded: 11/04
Contract Showing on Membership: 11/18
Points in account:

 

[Ruttangel]

Home: OKW-2042
Broker: www.**********.com
Title Company: www.ormondlegal.com
Offer made: 9/5/2020
Offer accepted: 9/5/2020
Sent to ROFR: 9/6/2020
Passed ROFR: 10/27/2020
Closing docs received: 11/05/2020
Closing docs returned: 11/05/2020
Seller returned closing docs: 11/10/2020
Closing: 11/10/2020
Deed recorded: 11/11/2020
Contract Showing on Membership:
Points in account:

 

[ValW]

If you are financing, you won't see the full deed recorded in your name until after you've paid off the mortgage, I believe.

Yes, you do. The Deed in your name as grantee and the Mortgage (short form mortgage agreement) with Disney as the grantee. Both filed on the same day. If Disney is taking over the points for whatever reason, it will be recorded as a Deed with Disney as the grantee.

Since January 1st, there has only been 8 deeds recorded with Disney as Grantee regarding the Riviera. Some were corrections to the deeds, some were foreclosures.

 

[Gerbilsting]

Update:

Home: AKV
Broker: dvcresalemarket.com
Title Company: Magic Vacation Title
Offer made: 9/6/2020
Offer accepted: 9/6/2020
Sent to ROFR: 9/8/2020
Passed ROFR: 10/22/2020
Estoppel: 10/26/2020 (Assumed)
Closing docs received: 10/27/2020
Closing docs returned: 10/27/2020
Seller returned closing docs: (Unknown)
Closing: 11/3/2020
Deed recorded: 11/4/2020
Contract Showing on Membership: 11/18/2020
Points in account:

 

[Brittni Bouse]

Home: PVB
Broker: dvcstore.com
Title Company: Mason Title Company
Offer made: 9/26/20
Offer accepted: 9/28/20
Sent to ROFR: 9/29/20
Passed ROFR: 11/2/2020
Closing docs received: 11/17/2020
Closing docs returned: 11/17/2020
Sellers closing docs returned:
Closing:
Deed recorded:
Contract Showing on Membership:
Points in account:

 

[mattywisco]

So I misunderstood our broker and closing docs were not received yet from the seller, and I already wired the money..... Is that normal that they wait until the money is wired before sending closing docs to the seller?

 

[Sandisw]

So I misunderstood our broker and closing docs were not received yet from the seller, and I already wired the money..... Is that normal that they wait until the money is wired before sending closing docs to the seller?

No, they send both at the same time. It just depends on where the seller is and how easy or hard it is to get to a notary public. That can delay a seller getting documents back a few days.

 

[mattywisco]

No, they send both at the same time. It just depends on where the seller is and how easy or hard it is to get to a notary public. That can delay a seller getting documents back a few days.

Thanks! Can seller not sign online with Docusign ?

 

[Sandisw]

Thanks! Can seller not sign online with Docusign ?

Sellers have to get documents notarized so no, they have to provide hard copies.

Depending on where they live, those services, especially with Covid are not as easy to get to as in the past.

 

[mattywisco]

Ok... and it's an international seller...

 

[PaulW08]

WOHOOOOOO! Points showed up today! Both contracts done now.

Home: Animal Kingdom Villas (AKV)
Broker: www.dvcresalemarket.com
Title Company: Magic Vacation Title
Offer made: 8/13/2020
Offer accepted: 8/17/2020 (4 days)
Sent to ROFR: 8/20/2020 (3 days)
Passed ROFR: 9/22/2020 (33 days)
Closing docs received: 9/30/2020 (8 days)
Closing docs returned: 10/5/2020 (5 days)
Seller returned closing docs: Unknown
Closing: 10/15/2020 (10 days)
Deed recorded: 10/16/2020 (1 day)
Contract Showing on Membership: 11/6/2020 (21 days)
Points in account: 11/19/2020 (13 days)
Total time from offer to points: (98 days)

Complete:

Home: Copper Creek (CCV)
Broker: www.fidelityresales.com
Title Company: First American Title Insurance Company (FATC)
Offer made: 7/18/2020
Offer accepted: 7/20/2020 (2 days)
Sent to ROFR: 7/24/2020 (4 days)
Passed ROFR: 9/3/2020 (41 days)
Closing docs received: 9/10/2020 (7 days)
Closing docs returned: 9/11/2020 (1 day)
Seller returned closing docs: 10/2/2020 (22 days)
Closing: 10/8/2020 (6 days)
Deed recorded: 10/8/2020 (0 days)
Contract Showing on Membership: 10/26/2020 (18 days)
Points in account: 10/27/2020 (1 day)
Total time from offer to points: (101 days)

 

[Stargazer65]

Closed Today!

Home: BRV
Broker: https://dvcsales.com/
Title Company: MTC
Offer made: 9/24/2020
Offer accepted: 9/24/2020
Sent to ROFR: 9/25/2020
Passed ROFR: 10/29/2020
Closing docs received:11/10/2020
Closing docs returned: 11/12/2020
Seller returned closing docs: UNK
Closing: 11/19/2020
Deed recorded:
Contract Showing on Membership:
Points in account:

Now comes the really slow part! Waiting for it to show up online with points...

 

[Cabius]

Posting here because I'm getting antsy for estoppel, and I hope that the somehow posting these dates will make them immediately obsolete. COME ON CLOSING DOCS!

Guys, it didn't work. (Yet!)

 

[bubblefactory]

We passed ROFR on 10/30 and the broker hasn't received the estoppel paperwork yet but I see people who passed around the same time have had their closing paperwork at least a week ago. What causes these delays in DVC releasing them anyone know?

 

[Carrie932]

We passed ROFR on 10/30 and the broker hasn't received the estoppel paperwork yet but I see people who passed around the same time have had their closing paperwork at least a week ago. What causes these delays in DVC releasing them anyone know?

I would maybe reach out and ask? When my husband did so earlier this week (we passed 11/4) he was told "Good timing! It just came through this morning" which makes me think they had it but just hadn't gotten around to getting closing docs together yet...could be a coincidence but who knows!

 

[Stargazer65]

Guys, it didn't work. (Yet!)

We passed ROFR on 10/30 and the broker hasn't received the estoppel paperwork yet but I see people who passed around the same time have had their closing paperwork at least a week ago. What causes these delays in DVC releasing them anyone know?

You have to despair of ever receiving closing docs and throw your hands up in the air in frustration. After that, openly attest on this forum that you now realize that you will never, ever, close. Once you have done that, then, and only then will the title company send the closing docs.

 

[bubblefactory]

You have to despair of ever receiving closing docs and throw your hands up in the air in frustration. After that, openly attest on this forum that you now realize that you will never, ever, close. Once you have done that, then, and only then will the title company send the closing docs.

Would you believe they've arrived 45 minutes after my post

 

[Stargazer65]

Would you believe they've arrived 45 minutes after my post

Yep! Very predictable lol.

 

[E2ME2]

Yes, you do. The Deed in your name as grantee and the Mortgage (short form mortgage agreement) with Disney as the grantee. Both filed on the same day. If Disney is taking over the points for whatever reason, it will be recorded as a Deed with Disney as the grantee.

Since January 1st, there has only been 8 deeds recorded with Disney as Grantee regarding the Riviera. Some were corrections to the deeds, some were foreclosures.

Really ?
I found a lot more than 8 deeds for Riviera with Disney as the Grantee :
(And this was all screen-shotted from just 1 page in July 2020, I redacted Grantor Names and other resorts listed)