Closing Time!!

BayGirl22

DIS Veteran
Joined
Apr 23, 2012
Update - contract is in my account, but no points yet

Home Resort: AUL
Broker: www.dvcresalemarket.com
Title Company: First American Title
Offer made: April 2
Offer accepted: April 3
Sent to ROFR: April 5
Passed ROFR: April 30
Closing docs received: May 11 - with errors
Corrected deed and DocuSign received: May 17
Closing docs returned: May 19 (received in HI)
Closing: June 15
Deed recorded: June 15
Contract Showing on Membership: July 8
Points in account:

After waiting 3 weeks from closing, hearing from member admin they had "no record of my deed", then having the title company contact them, contract finally showed up.
Now the wait for the points, which I need to use before MS shuts down.

After going through a direct sale and now this I'm getting really annoyed at Disney's handling of the resale process.
 

Jerbear2019

Earning My Ears
Joined
May 3, 2021
I would give them at least a day for the paperwork to come through and hit MS on chat. Worked for me a couple of weeks ago.
Awesome thanks for the info! I just called they said to send the email to administrator so I did that. I’ll try again tomorrow on chat.
 

scheddj

Take that Tag Fairy - I made my own!!
Joined
Mar 14, 2006
Home Resort: BWV
Broker: www.dvcresalemarket.com
Title Company: Magic Vacation Title
Offer made: June10
Offer accepted: June 10
Sent to ROFR: June 14
Passed ROFR: June 30
Estoppel received: July 8
Closing docs received: July 16
Closing docs returned: July 16
Funds wired: July 19
Sellers closing docs returned: July 26
Closing: July 27
Deed recorded: July 28
Membership created & contract showing:
Points in account:
 
Last edited:

ajiuo

Practically Perfect In Every Way
Joined
Feb 23, 2020
Home Resort: BWV
Broker: www.dvcresalemarket.com
Title Company: First American Title
Offer made: June10
Offer accepted: June 10
Sent to ROFR: June 14
Passed ROFR: June 30
Estoppel received: July 8
Closing docs received:
Closing docs returned:
Sellers closing docs returned:
Closing:
Deed recorded:
Contract Showing on Membership:
Points in account:
WOW!! Just a little over two weeks for ROFR and barley over a week for estoppel… that’s quick. Hopefully everything else goes as quick. I’ll be happy if my ROFR goes through around the 3 week mark… so hopefully some time next week… if the DVC shutdowns don’t delay it another couple of weeks. Not sure how that stuff will effect ROFR.
 

Jerbear2019

Earning My Ears
Joined
May 3, 2021
Home: AKL
Broker: www.dvcresalemarket.con
Title Company: Magic Vacation Title
Offer made: 5/3/21
Offer accepted: 5/3/21
Sent to ROFR: 5/4/21
Passed ROFR: 5/21/21
Estoppel Received:6/04/21
Closing docs received:6/11/21
Closing docs returned:6/14/21
Sellers closing docs returned:?
Closing:6/22/21
Deed recorded:6/24/21
Points in account:7/9/21

Total days: 66ish lol

i called today before lunch.Took around an hour and a half being on hold but cast member helped me out and got it done very nice and got us a one bedroom at beach club for our trip on September. Very happy!!
 

scheddj

Take that Tag Fairy - I made my own!!
Joined
Mar 14, 2006
WOW!! Just a little over two weeks for ROFR and barley over a week for estoppel… that’s quick. Hopefully everything else goes as quick. I’ll be happy if my ROFR goes through around the 3 week mark… so hopefully some time next week… if the DVC shutdowns don’t delay it another couple of weeks. Not sure how that stuff will effect ROFR.
I know, right?! I am exceptionally lucky and pleased. Hopefully it won’t stall because of the shutdown. Good luck to you with ROFR!
 

HIRyeDVC

DIS Veteran
Joined
Apr 17, 2021
I just tried chat twice to get my points loaded. Both CMs told me that I haveto call MS to get my points. I was able to get my points loaded 2 weeks ago via chat for a different resale contract. So inconsistent.
 

ParkFreak

Triton
Joined
Oct 24, 2000
I just tried chat twice to get my points loaded. Both CMs told me that I haveto call MS to get my points. I was able to get my points loaded 2 weeks ago via chat for a different resale contract. So inconsistent.
I get it, but considering they don’t actually offer a “call or chat with us and get your points” service, I’d expect it to be inconsistent.
 

BeBopaSaurus

Do the next right thing
Joined
Mar 19, 2021
I have a question. We are awaiting our sellers to sign the closing documents. They’ve had two weeks. Our “closing date” is July 20. We signed and wired money June 28. If they don’t sign by July 20, does that mean the buyer can then back out and get their deposit back? Thanks!
 

HIRyeDVC

DIS Veteran
Joined
Apr 17, 2021
I have a question. We are awaiting our sellers to sign the closing documents. They’ve had two weeks. Our “closing date” is July 20. We signed and wired money June 28. If they don’t sign by July 20, does that mean the buyer can then back out and get their deposit back? Thanks!
I had that issue. It wasn’t a big deal though. Our broker just wrote up an amendment for both the seller and us to sign that extended the close by date. Technically, the sellers have every right to back out at anytime before the actual closing and recording.
 

Lee Matthews

DIS Veteran
Joined
Jan 16, 2009
We had the same. We had to sign a contract to say we were fine for the closing to be delayed by a few days. Sellers had to do the same. Reason was that they had a trip booked which overlapped with closing.

Made us nervous though that while on their trip the sellers would back out, luckily they didn’t
 

Sandisw

DVC Forums
Moderator
Joined
Nov 15, 2008
I have a question. We are awaiting our sellers to sign the closing documents. They’ve had two weeks. Our “closing date” is July 20. We signed and wired money June 28. If they don’t sign by July 20, does that mean the buyer can then back out and get their deposit back? Thanks!
Yes, as a buyer, you can back out and get your deposit if you fail to close on time.

I know there are seller delays…and I’m patient for a few weeks. I am currently waiting on a seller too but this next week will be a full month. We have already let our agent at Mason Title know we are out if we don’t close soon.

We did not wire the money for this exact reason. We may even lose our deposit and go direct instead. My hope is that will help get it done!
 

HIRyeDVC

DIS Veteran
Joined
Apr 17, 2021
Yes, as a buyer, you can back out and get your deposit if you fail to close on time.

I know there are seller delays…and I’m patient for a few weeks. I am currently waiting on a seller too but this next week will be a full month. We have already let our agent at Mason Title know we are out if we don’t close soon.

We did not wire the money for this exact reason. We may even lose our deposit and go direct instead. My hope is that will help get it done!
Oh no, is this for the Riviera contract?
 

HIRyeDVC

DIS Veteran
Joined
Apr 17, 2021
Home Resort: BLT
Broker: www.dvcresalemarket.com
Title Company: Magic Vacation Title
Offer made: 4/9/21
Offer accepted: 4/9/21
Sent to ROFR: 4/14/21
Passed ROFR: 5/7/21
Closing docs received: 5/26
Closing docs returned: 6/21/21
Closing: 6/22/21
Deed recorded: 6/24/21
Contract Showing on Membership: 7/9/21
Points in account: 7/11/21

Days Total: 94 days

Looks like I haven’t had the best of luck in terms of total days but relieved nonetheless that it’s all over. I first emailed member admin on 7/6 to inquire about the account transfer. Contract showed up in my account 2 days later. I tried chatting with two separate CMs to get points loaded on 7/10 and failed. Called MS this morning. Waited 2 minutes and CM was able to load my points. This will probably be my last resale purchase. But I still love following all the different threads on this board. Thank you everyone for all your wisdom and insight. Wishing everyone many memories and pixie dust!
 

Sandisw

DVC Forums
Moderator
Joined
Nov 15, 2008
Oh no, is this for the Riviera contract?
It is. The only good news is that if it falls through, I go direct and simply lose out on the savings I got buying resale. But, I want the points for January and February trips, so I don't have time to wait out another resale situation.

Personally, I think when the title agent lets the seller know we will be walking in 14 days (before the official closing date), it will motivate him to sign and return. Again, I didn't mind waiting a few weeks, but we are giving him basically 6 weeks....plenty of time.

Worst case, the extra incentives I get for buying RIV direct before 8/4 will help with the loss! Fingers crossed she tells me Monday he sent in the papers! I will not wire until she provides me with the copies!!!
 

JEDECEEE

Earning My Ears
Joined
Jun 20, 2021
All went well with my wire. I always get nervous wiring funds for a house so this was no different! Now we wait for the seller to return to them notarized and then filed with appropriate departments. I don't expect anything from DVC directly about my member number until August 1st or later. It stinks because we have 36 random points to use before Nov 30th but knew it would be a hard shot at using them and not a reason to buy the contract we did. But now the weeks we want in 2021 need to be available because we have 160 to use for sure and to decide how many to bank of the current UY points :)
 

HIRyeDVC

DIS Veteran
Joined
Apr 17, 2021
It is. The only good news is that if it falls through, I go direct and simply lose out on the savings I got buying resale. But, I want the points for January and February trips, so I don't have time to wait out another resale situation.

Personally, I think when the title agent lets the seller know we will be walking in 14 days (before the official closing date), it will motivate him to sign and return. Again, I didn't mind waiting a few weeks, but we are giving him basically 6 weeks....plenty of time.

Worst case, the extra incentives I get for buying RIV direct before 8/4 will help with the loss! Fingers crossed she tells me Monday he sent in the papers! I will not wire until she provides me with the copies!!!
I would hate for you to lose your deposit but if it doesn’t work out, it might be a sign for you to just add more direct points. Do you think the RR incentives will really go away on 8/4? Or do you think Disney will offer new incentives after 8/4? Good luck to you! Hope you close soon.
 

Sandisw

DVC Forums
Moderator
Joined
Nov 15, 2008
I would hate for you to lose your deposit but if it doesn’t work out, it might be a sign for you to just add more direct points. Do you think the RR incentives will really go away on 8/4? Or do you think Disney will offer new incentives after 8/4? Good luck to you! Hope you close soon.
I don't know but we would only be doing 125 points (same as the resale contract) so its not a lot anyway, but with the minimum raised, it might be worse at this level? As I said, I have a feeling if the seller knows we will not follow through after giving him 6 weeks, there won't be an issue and we will for sure close on time!!!! I did ask if this was a situation where he needed to bring money to the table and was told that was not the hold up.
 

BayGirl22

DIS Veteran
Joined
Apr 23, 2012
Finally got the points. I called on Saturday morning and was put on hold while they were added. ONLY 100 days. That was with us and the seller and the broker doing everything in a timely manner. It was the stuff with the title company and Disney that took so long.

Home Resort: AUL
Broker: www.dvcresalemarket.com
Title Company: First American Title
Offer made: April 2
Offer accepted: April 3
Sent to ROFR: April 5
Passed ROFR: April 30
Closing docs received: May 11 - with errors
Corrected deed and DocuSign received: May 17
Closing docs returned: May 19 (received in HI)
Closing: June 15
Deed recorded: June 15
Contract Showing on Membership: July 8
Points in account: July 10th
Days Total: 100 days
 

HappyThoughtsTees

Mouseketeer
Joined
Jul 15, 2020
I would not suggest this title company. Very poor communication and unclear responses to my inquiries. Took 4.5 months from offer made to points in account, but we finally made it!

Home: Aulani
Broker: DVC Magic Resales
Title: https://firstreliabletransfers.com
Offer made: 3/1
Offer accepted: 3/2
Sent to ROFR: 3/5
Passed ROFR: 3/30
Closing docs received: 4/30
Closing docs returned: 5/10
Seller returned closing docs: 5/24
Closing: ?
Deed recorded: 6/28?
Contract Showing on Membership: 7/10
Points in account: 7/12
 

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