Closing Time!!

[PalDisFam]

Almost there!

Home: BCV
Broker: www.fidelityrealestate.com
Title Company: First American
Offer made: 1/26/21
Offer accepted: 1/26/21
Sent to ROFR: 1/28/21
Passed ROFR: 2/22/21
Estoppel Received: 3/6/21
Closing docs received: 3/9/21
Closing docs returned: 3/9/21
Sellers closing docs returned: 3/15/21
Closing: 3/18/21
Deed recorded: 3/19/21
Membership created and contract showing: 4/6/21
Points in account:
Total time from offer to points in account:

Final update! I was going to call @ 9AM, checked my account @ 8:55 and points were loaded.

Home: BCV
Broker: www.fidelityrealestate.com
Title Company: First American
Offer made: 1/26/21
Offer accepted: 1/26/21
Sent to ROFR: 1/28/21
Passed ROFR: 2/22/21
Estoppel Received: 3/6/21
Closing docs received: 3/9/21
Closing docs returned: 3/9/21
Sellers closing docs returned: 3/15/21
Closing: 3/18/21
Deed recorded: 3/19/21
Membership created and contract showing: 4/6/21
Points in account: 4/7/21
Total time from offer to points in account: 71 days!

 

[mommy2allyandaveri]

Hey! you finally passed a round of ROFR.

Yes, finally! Super excited for our contract but working with a title company who seems to take their sweet time doing EVERYTHING. We have a trip planned in July, I'm worried I won't have points in time to get a reservation.

 

[bks9581]

04/07 UPDATE


Home: SSR
Broker: www.fidelityresales.com
Title Company: First American
Offer made: 2/2/21
Offer accepted: 2/2/21
Sent to ROFR: 2/5/21
Passed ROFR: 3/5/21
Estoppel received: ?
Closing docs received: 3/16/21
Closing docs returned: 3/16/21
Sellers closing docs returned: 3/16/21 - Notarized docs not received till 4/05/21 (super frustrating it took this long since it wasn't an international seller!)
Wire sent: 3/17/21
Closing: 04/06/21
Deed recorded: 04/07/21
Contract Showing on Membership: (hoping this won't take too long since we are already members)
Points in account:

 

[EmilyDisFan]

Have they actually reached out? My seller went silent for two weeks after closing docs were sent. I emailed my broker and they said they had reached out. Later that evening I got a call from my agent (who was on the email) and she CALLED them. Turns out they thought the emails were from Disney trying to convince them to buy back?! They had all the paperwork turned in within two days. So the broker may say they "contacted" them but did they actually call them?...I would check on that.

I'm wondering if something similar is going on with mine too. After a week of trying to get a response from the closing company and agent on IF they've heard from the seller, they both told me today they would "let me know when they hear from the seller." Ugh, it's been two weeks since the closing documents were sent and points expire 7/31. How do you know the seller has actually seen them? Going to bug them again tomorrow afternoon if no updates.

I'm extra frustrated because on my other contract this year (different broker & title co), I had 3 people reach out to me as the buyer within days of contract delivery to ensure I was in the process of completing.

 

[RedFive]

Have they actually reached out? My seller went silent for two weeks after closing docs were sent. I emailed my broker and they said they had reached out. Later that evening I got a call from my agent (who was on the email) and she CALLED them. Turns out they thought the emails were from Disney trying to convince them to buy back?! They had all the paperwork turned in within two days. So the broker may say they "contacted" them but did they actually call them?...I would check on that.

I'm skeptical whether they had reached out prior to these last few days when I started pestering everyone I could reach. Finally this morning, I got an email from my broker celebrating the fact they had gotten a reply from the seller finally. They are having trouble getting a notary with the Covid restrictions where they live.

 

[theducks1]

Update:

Home: PVB
Broker: www.dvcstore.com
Title Company: Mason Title Co
Offer made: 1/19/21
Offer accepted: 1/20/21
Sent to ROFR: 1/25/21
Passed ROFR: 2/17/21
Closing docs received: 3/3/21
Closing docs returned: 3/4/21 (wire transfer)
Sellers closing docs returned: 3/10/21
Closing: 3/11/21
Deed recorded: 3/12/21
Contract Showing on Membership: 3/31/21
Points in account: 4/2/21

Total time from Offer - Points = 73 days

 

[vicarrieous]

I'm skeptical whether they had reached out or not prior to these last few days when I started pestering everyone I could reach. Finally this morning, I got an email from my broker celebrating the fact they had gotten a reply from the seller finally. They are having trouble getting a notary with the Covid restrictions where they live.

The problem with this is why wouldn't the seller be reaching out sooner to let the title agent know this. It smells funny to me! If I were in that position and it was taking me longer than a week, I would be letting them know the delay.

 

[kandlsutton]

LAST UPDATE - sorry to go...

Home: AKV
Broker: www.dvcresalemarket.com
Title Company: Magic Vacation Title
Offer made: 1/23/21
Offer accepted: 1/23/21
Sent to ROFR: 1/28/21
Passed ROFR: 2/19/21
Estoppel Received: 3/8/21
Closing docs received: 3/11/21 after COB
Closing docs returned: 3/16/21
Sellers closing docs returned: 3/17/21?
Closing: 3/18/21
Deed recorded: 3/22/21
Contract Showing on Membership: 4/6/2021
Points in account: 4/7/2021

Total time: 75 days

 

[larry47591]

This was a delayed closing so we are really just getting started again. Excited to finally add this one.

Home: HHI
Broker: www.dvcstore.com
Title Company: Hayes Title
Offer made: 12/6/2021
Offer accepted: 12/7/2021
Sent to ROFR: 12/8/2021
Passed ROFR: 12/17/2021
Closing docs received: 4/7/2021
Closing docs returned: 4/7/2021(wire transfer)
Sellers closing docs returned:
Closing:
Deed recorded:
Contract Showing on Membership:
Points in account:

 

[Amyeliza]

Seriously, the worse part about the entire process is waiting and wondering if/when the seller is going to sign, notarize and send back their contract. It's only been one day and I'm going nuts.

What has been your worst part?

 

[michael730]

The problem with this is why wouldn't the seller be reaching out sooner to let the title agent know this. It smells funny to me! If I were in that position and it was taking me longer than a week, I would be letting them know the delay.

I’m in this exact boat too! My first sellers (from last week) kept the broker updated that it was taking them a week or so to get an appt w a notary, then they legit had their closing docs in a couple days. It’s been a week w my second contracts closing docs and not a peep from the sellers, I did ask the broker today to reach out tomorrow to see for any updates. Like you said if that was me as the seller I would definitely give some reasoning for the hold up. Communication definitely makes a big difference, even if it was going to take another week if I knew it would make it definitely better than being in the dark

 

[CSLucas]

I’m in this exact boat too! My first sellers (from last week) kept the broker updated that it was taking them a week or so to get an appt w a notary, then they legit had their closing docs in a couple days. It’s been a week w my second contracts closing docs and not a peep from the sellers, I did ask the broker today to reach out tomorrow to see for any updates. Like you said if that was me as the seller I would definitely give some reasoning for the hold up. Communication definitely makes a big difference, even if it was going to take another week if I knew it would make it definitely better than being in the dark

Waiting on the sellers has been the worst for me as well. First contract had everything submitted by sellers within 2 days of receiving. My contract closing date for the second on is this Friday (as in 2 days from now) and the seller's documents are still "in the mail". I've decided to walk if the contract isn't closed on Friday.

 

[JC1984]

Waiting on the sellers has been the worst for me as well. First contract had everything submitted by sellers within 2 days of receiving. My contract closing date for the second on is this Friday (as in 2 days from now) and the seller's documents are still "in the mail". I've decided to walk if the contract isn't closed on Friday.

Atta Boy/Girl!

 

[Element_of_Fun]

Seriously, the worse part about the entire process is waiting and wondering if/when the seller is going to sign, notarize and send back their contract. It's only been one day and I'm going nuts.

What has been your worst part?

I knew going in that ROFR would take 30 days or more. I didn't appreciate what estoppel was and that it would cause another 10 days of delay. Then it was basically another week after that to get the closing docs. So I've found the period since passing ROFR to be the worst!

 

[Amyeliza]

I knew going in that ROFR would take 30 days or more. I didn't appreciate what estoppel was and that it would cause another 10 days of delay. Then it was basically another week after that to get the closing docs. So I've found the period since passing ROFR to be the worst!

Yikes! I read your stats. We are on the same waiting game. My closing docs were received by the title company yesterday. It's all in the seller's hands. I hope he wants his money badly!

 

[Skywalker-77]

Been waiting for our points to load since 3/8 contacted our Title company yesterday and here was the response we got.

"Disney contacted our office last week to let us know that the Deed that was recorded had an incorrect Unit number on the deed. Therefore, they are requesting a corrective deed. "

Best part was this contract had points that had to be used by 5/31 which now looks like they are totally useless. Has anyone else ran into this situation?

 

[vicarrieous]

Been waiting for our points to load since 3/8 contacted our Title company yesterday and here was the response we got.

"Disney contacted our office last week to let us know that the Deed that was recorded had an incorrect Unit number on the deed. Therefore, they are requesting a corrective deed. "

Best part was this contract had points that had to be used by 5/31 which now looks like they are totally useless. Has anyone else ran into this situation?

That sucks! Did you check the county registrar to make sure the corrected deed is up? Those hiccups really hurt timelines for sure! Strange that the deed was wrong as if they had estoppel it should be correct. I wonder if it was a title agent typo.

 

[CSLucas]

Been waiting for our points to load since 3/8 contacted our Title company yesterday and here was the response we got.

"Disney contacted our office last week to let us know that the Deed that was recorded had an incorrect Unit number on the deed. Therefore, they are requesting a corrective deed. "

Best part was this contract had points that had to be used by 5/31 which now looks like they are totally useless. Has anyone else ran into this situation?

That's terrible. I hope they get it loaded quickly - maybe you can still rent out the points for a last minute reservation.

 

[cmarsh31]

Home: AKV
Broker: https://www.fidelityrealestate.com/
Title Company: Mason Title
Offer made: 2/26/21
Offer accepted: 2/27/21
Sent to ROFR: 3/5/2021
Passed ROFR: 3/29/2021
Estoppel Received: 4/1/2021
Closing docs received: 4/2/2021
Closing docs returned: 4/2/2021
Sellers closing docs returned:
Closing:
Deed recorded:
Contract Showing on Membership:
Points in account:

*found out 4/1 that closing will be delayed until end of May due to an undisclosed existing reservation* We were on track for a super-fast transaction!
*update again - we've now e-signed multiple addendums. Seller & broker will be covering the $195 Fidelity fee. Waiting to receive the new, updated closing docs with the new total, and delayed closing. Undisclosed reservation ends on 5/31, so hopefully early June for closing? DH is calling this the saga of never-ending e-docs.

 

[vicarrieous]

Home: AKV
Broker: https://www.fidelityrealestate.com/
Title Company: Mason Title
Offer made: 2/26/21
Offer accepted: 2/27/21
Sent to ROFR: 3/5/2021
Passed ROFR: 3/29/2021
Estoppel Received: 4/1/2021
Closing docs received: 4/2/2021
Closing docs returned: 4/2/2021
Sellers closing docs returned:
Closing:
Deed recorded:
Contract Showing on Membership:
Points in account:

*found out 4/1 that closing will be delayed until end of May due to an undisclosed existing reservation* We were on track for a super-fast transaction!
*update again - we've now e-signed multiple addendums. Seller & broker will be covering the $195 Fidelity fee. Waiting to receive the new, updated closing docs with the new total, and delayed closing. Undisclosed reservation ends on 5/31, so hopefully early June for closing? DH is calling this the saga of never-ending e-docs.

How disappointing! There was someone else dealing wit this same issue. Seems to be slipping through more often.