Closing Time!!

[Sandisw]

I really hope for their sake that is not the case. I know sometimes people sell DVC when they're in that position but still.

It also could be that finances changed and they are in the process of doing planB?

Or, they planned things based on the closing date on the contract without realizing it could happen earlier?

Hopefully it is soon!

 

[sugliac]

It also could be that finances changed and they are in the process of doing planB?

Or, they planned things based on the closing date on the contract without realizing it could happen earlier?

Hopefully it is soon!

Yes could be! And thanks

 

[princesscinderella]

I closed on 5/19 and my BLT contract is now showing up in my DVC membership (existing member) no points yet though.

 

[ParkFreak]

Yea, I would say we are the minority! If companies/brokers want to improve on their timelines, this would be one area that could be addressed. There are plenty of both buyers and sellers that take weeks to finished up paperwork and sometimes that is necessary, but other times it is simply because a lack of follow up or hand holding.

I will have to say with our recent purchase, I was concerned about our timeline as our contract had expiring points and we wanted to book a trip for January before the 7 month window hit. We gave ourselves 75 days from offer to points in account as our **hopeful** expectation which is actually pretty fast. We hit one bump in the road with ROFR and some additional email/paperwork snafu, but after that our broker really stayed on top of things to keep it rolling as did our title agent. We had additional concerns that closing may take awhile as our seller was an 80 year old widow with limited computer access (wouldn't be able to print documents etc.) and trouble with locating a notary with the pandemic. I was astonished that within a week she had paperwork back and I think a lot of this was due to the guidance of the broker. They really came through as our total timeline was 64 days and we were able to find a reservation in July to use our expiring 150 points and get our January trip scheduled at Beach Club.

Looking back, things lined up, but I believe some of this was due to the broker/title company who really seemed on top of the process. I will definitely default to them when we look for more points (pending they have a contract listed for what we are looking for). I have also noticed that the title company we used (Mason) seems to be on the faster end for many of these closing timelines lately.

Just found out the seller isn’t going to see a Notary until next Tuesday. That will be 12 days after receiving the docs! The contract includes points that will expire in November! Let’s just say (in the nicest way possible) that I’m not thrilled with the inactivity of my broker. I emailed him 3 weeks ago reminding him that there is some urgency in this transaction. He never responded.

 

[kandlsutton]

I was following your posts because we have the same timeline.
Heard from them only today because I e-mailed... estoppel received, but closing docs only next week... Were you in contact with broker/title company or just waiting? I have a trip to book and I've seen availability diminishing for March next year...

I had emailed the title company on 5/24 and again on 6/1 and both times the response was “no estoppel yet” and I mentioned that I want to use the 2020 banked points to make a reservation for end of May 22. The title agent said that she noted the priority and then closing documents came in on the 6/2.

I would’ve sent the documents back today but noticed an issue with the occupancy and use document. It stated that there were 75 points for 2020 and 75 points for 2021 and beyond. Technically not correct since I asked the seller to bank the 2020 points and received confirmation from the broker a month ago that it was done. I think it should read “150 points for 2021 (75 banked from 2020) and 75 points for 2022 and beyond”. So now waiting for the corrected occupancy and use document before sending everything back, but title agent is on vacation...assuming a 5 day delay at a minimum because seller has to resign as well.

 

[idisneyfan]

What triggers Disney to create the membership.... The closing or the filing of the deed?

 

[Jwaire]

What triggers Disney to create the membership.... The closing or the filing of the deed?

After the deed is available on the OC comptroller Web site, your title company will send everything to Disney. Then Disney processes those transfers.

 

[ILoveMyDVC]

After the deed is available on the OC comptroller Web site, your title company will send everything to Disney. Then Disney processes those transfers.

Fascinating and a good explanation for some of the delay.

 

[GreyTami]

FINAL UPDATE

Home: CCV@WL
Broker: www.****************.com
Title Company: Mason Title
Offer made: 3/17/2021
Offer accepted: 3/24/2021
Sent to ROFR: 3/27/2021
Passed ROFR: 4/22/2021
Estoppel Received:
Closing docs received: 5/3/2021
Closing docs returned: 5/7/2021
Funds wired: 5/11/2021
Sellers closing docs returned: 5/10/2021
Closing: 5/18/2021
Deed recorded: 5/19/2021
Contract Showing on Membership: 6/1/2021 (existing member)
Points in account: 6/3/2021 (did not call)
Total days: 78 days

Not the 55 days we had for our first contract a few months ago, but pleased nonetheless!

 

[Jwaire]

Fascinating and a good explanation for some of the delay.

It was an almost 3 month process for me. I should have said after your deed is recorded by Orange County (and your title company notices), your paperwork is sent to Disney. I guess there could be a delay in recording and posting. However, if you look at their Web site it tells what is the last day of records they have posted.

 

[matthewredrich]

Home: AUL
Broker: http://oceanwind-hawaii.com
Title Company: First American Hawaii
Offer made: 3/15/2021
Offer accepted: 3/18/2021
Sent to ROFR: 3/30/2021
Passed ROFR: 4/22/2021
Estoppel Received: 5/06/2021
Closing docs received:
Closing docs returned:
Funds wired:
Sellers closing docs returned:
Closing:
Deed recorded:
Contract Showing on Membership:
Points in account:
Total days:

Here's where we are so far. Our contact at First American has been very slow to respond since ROFR passed. We were promised closing docs 7 days ago and still haven't seen or heard anything.

 

[matthewredrich]

Home: AUL
Broker: http://oceanwind-hawaii.com
Title Company: First American Hawaii
Offer made: 3/15/2021
Offer accepted: 3/18/2021
Sent to ROFR: 3/30/2021
Passed ROFR: 4/22/2021
Estoppel Received: 5/06/2021
Closing docs received:
Closing docs returned:
Funds wired:
Sellers closing docs returned:
Closing:
Deed recorded:
Contract Showing on Membership:
Points in account:
Total days:

Here's where we are so far. Our contact at First American has been very slow to respond since ROFR passed. We were promised closing docs 7 days ago and still haven't seen or heard anything.

We just heard from the broker. Apparently First American Hawaii is very backed up and simply overwhelmed.

 

[idisneyfan]

Getting so close.

Home: BRV
Broker: www.dvcsales.com
Title Company: Mason Title
Offer made: 4/30/2021
Offer accepted: 4/30/2021
Sent to ROFR: 4/30/2021
Passed ROFR: 5/18/2021
Estoppel Received: ??
Closing docs received: 6/3/2021
Closing docs returned: 6/3/2021
Funds wired: 6/3/2021
Sellers closing docs returned:
Closing:
Deed recorded:
Contract Showing on Membership:
Points in account:
Total days:

 

[mollys_aunt]

Home: VWL
Broker: *******.com
Title Company: Hayes Title, LLC
Offer made: 03/10/21
Offer accepted: 03/10/21
Sent to ROFR: 03/12/21
Passed ROFR: 04/01/21
Estoppel Received: 04/13/21
Closing docs received: 04/20/21
Closing docs returned: 04/21/21
Sellers closing docs returned: Unknown
Closing: 04/23/21
Deed recorded: 04/27/21
Contract Showing on Membership: 05/16/21 (after 5 pm on Sunday too!)
Points in account: 05/23/21
Time elapsed so far: 68 days
Total time from offer to points in account: 75 days
UPDATED!

It's a mighty fine Sunday for me. I love to see how everything is going for everyone and realized I should share as well. It feels like forever when purchasing resale! This is our second contract in about two years. And despite feeling as though it would never end, the contract is now showing on our membership .. 68 days. Not too shabby. Hopefully, I can make reservations in the next day or two.

Well that felt like forever! Of course, I know in my heart that 75 days is not too shabby. I ended up going on vacation (not to Disney) right after I found out and just had a chance to post. Good luck to everyone who is still waiting for everything to be completed. I was able to make a Frankenstein type reservation for later in October. I have one day at Kidani in a standard room, then the next two days at Kidani in a savannah view and then the last two days at Old Key West. Eek. It was amazing how fast the dates filled up. Now I'm on a wait list, hoping to smooth this trip out a bit. Ha.

 

[MissPixieDreamer]

I had emailed the title company on 5/24 and again on 6/1 and both times the response was “no estoppel yet” and I mentioned that I want to use the 2020 banked points to make a reservation for end of May 22. The title agent said that she noted the priority and then closing documents came in on the 6/2.

I would’ve sent the documents back today but noticed an issue with the occupancy and use document. It stated that there were 75 points for 2020 and 75 points for 2021 and beyond. Technically not correct since I asked the seller to bank the 2020 points and received confirmation from the broker a month ago that it was done. I think it should read “150 points for 2021 (75 banked from 2020) and 75 points for 2022 and beyond”. So now waiting for the corrected occupancy and use document before sending everything back, but title agent is on vacation...assuming a 5 day delay at a minimum because seller has to resign as well.

I wish I had read your post before... received closing docs today and my occupancy had the same wording. I have 2020 points banked into 2021, but they list as 105 2020 points banked and 150 points from 2021. I felt it was ok, but now I’m a little worried.
The good part is the receiving of closing docs! Yay!! One more step done!

 

[MissPixieDreamer]

One more step!!

Home Resort: BCV
Broker: www.dvcresalemarket.com
Title Company: Magic Vacation Title
Offer made: 4/14/2021
Offer accepted: 4/14/2021
Sent to ROFR: 4/16/2021
Passed ROFR: 5/10/2021
Estoppel Received: 6/02/2021
Closing docs received: 6/04/2021
Closing docs returned: 6/04/2021
Sellers closing docs returned:
Closing:
Deed recorded:
Contract Showing on Membership:
Points in account:

 

[Samita]

Home: AKV
Broker: www.dvcresalemarket.com
Title Company: Magic Vacation Titles
Offer made: 4/12/21
Offer accepted: 4/12/21
Sent to ROFR: 4/14/21
Passed ROFR: 5/7/21
Estoppel Received: 6/2/2021??
Closing docs received: 6/2/2021
Closing docs returned: 6/5/2021
Funds wired: 6/5/2021
Sellers closing docs returned:
Closing:
Deed recorded:
Contract Showing on Membership:
Points in account:

 

[huskerfanatic7]

I passed rofr on 5/17 and didn't hear anything. I emailed the broker and apparently it recvd the estoppel on 6/1 and supposedly Disney didn't send the Estoppel to Mason Ttle so my broker has to send the estoppel to Mason. should have the closing documents on monday

 

[Johnandrandi]

Hoping for membership info and points added this week. We have 320 points that will expire July 31!!! Gotta through together a resort hopping trip!

Home Resort: SSR
Broker: www.dvcresalemarket.com
Title Company: Magic Vacation Title
Offer made: 4/6/21
Offer accepted: 4/6/21
Sent to ROFR: 4/7/21
Passed ROFR: 5/4/21
Estoppel Received: 5/16/21
Closing docs received: 5/20/21
Closing docs returned: 5/21/21
Sellers closing docs returned: 5/24/21
Closing: 5/25/21
Deed recorded: 6/1/21
Contract Showing on Membership: 6/14/21
Points in account:

 

[macman123]

Home: VGF
Broker: www.dvcresalemarket.com
Title Company: Mason Title
Offer made: 3/21/2021
Offer accepted: 3/22/2021
Sent to ROFR: 3/23/2021
Passed ROFR: 4/15/2021
Estoppel Received:
Closing docs received: 5/1/2021
Closing docs returned: 5/14/2021
Sellers closing docs returned: ?
Closing: 5/21/2021
Deed recorded: 5/24/2021
Contract Showing on Membership: 06/06/2021
Points in account: