Closing Time!!

[pangyal]

I have nothing to compare it to but they have been great for me. Always returned my emails promptly and answered any questions I've had. I dont know what other people had problems with them but I'm happy with them

Please don't feel you have to justify being happy about how quickly your contract went- I'm sure that's nobody's intention, and we are all very happy for you (albeit jealous, of course !)

 

[dvcmom14]

We're finally on to this (almost) final stage of the process!

Offer made - 8/2/2015
Offer accepted - 8/3/2015
Paperwork sent - 8/4/2015
ROFR Sumitted - 8/12/2015
ROFR Passed - 9/8/2015
Closing Docs Received - 10/15/2015
Closing Docs Returned - 10/17/2015

Now, just waiting on the closing to actually happen!

 

[Hockeymouse57]

Does anyone have any experience with ***? We've moved fast to date:

ROFR sent 9/24
Waived 10/5
Estoppel received 10/6

Our agent keeps telling us that we will close by our closing date- December 2nd. I know they are backlogged. Do they add staff? I would think The Timeshare Store wouldn't use them if they were slowing down business that much.

 

[gandyeye]

It is finally finished, and have reservations for 2 trips! What a journey this has been.

My timeline as of today for my BCV contract:

Sent for ROFR: 7/22
Approved: 8/17
Received closing docs: 9/3
Closed and recorded at OCC: 10/1 (had to wait on seller's reservation to close)
Receive Member #: 10/16 via snail mail.

 

[mickeyman]

Deed recorded today!! I'm in the final stretch!!

 

[sticker231]

Congratulations. Got my email also!

 

[dvcmom14]

Does anyone have any experience with ***? We've moved fast to date:

ROFR sent 9/24
Waived 10/5
Estoppel received 10/6

Our agent keeps telling us that we will close by our closing date- December 2nd. I know they are backlogged. Do they add staff? I would think The Timeshare Store wouldn't use them if they were slowing down business that much.

We're using ***, but haven't seen such a quick timeline. Actually, to be fair, the only unexpectedly long delay was from ROFR to Closing Docs. The lady at *** said they were waiting on docs from the lender and they've been very responsive to any questions and status checks on my behalf.

Offer made - 8/2/2015
Offer accepted - 8/3/2015
Paperwork sent - 8/4/2015
ROFR Sumitted - 8/12/2015
ROFR Passed - 9/8/2015
Closing Docs Received - 10/15/2015
Closing Docs Returned - 10/17/2015

 

[mickeyman]

Does anyone have any experience with ***? We've moved fast to date:

ROFR sent 9/24
Waived 10/5
Estoppel received 10/6

Our agent keeps telling us that we will close by our closing date- December 2nd. I know they are backlogged. Do they add staff? I would think The Timeshare Store wouldn't use them if they were slowing down business that much.

That's a long time to close unless seller has a trip booked so you have to wait. If they got your estoppel on 10/6 you should have closing documents already. I got my documents 1 week after they received estoppel. I used vacation world title

 

[Friendlyadvice2]

Does anyone have any experience with ***? We've moved fast to date:

ROFR sent 9/24
Waived 10/5
Estoppel received 10/6

Our agent keeps telling us that we will close by our closing date- December 2nd. I know they are backlogged. Do they add staff? I would think The Timeshare Store wouldn't use them if they were slowing down business that much.

That's a long time to close unless seller has a trip booked so you have to wait. If they got your estoppel on 10/6 you should have closing documents already. I got my documents 1 week after they received estoppel. I used vacation world title

*** has had my estoppel info since September and we don't have closing docs yet. Minimal work on the closing file too as the sellers aren't leveraged and are cash deals; I've aleady completed all the title work and just need them to punch the numbers into their closing template. TSS does use other closing companies. From what I'm reading, I think with Disney speeding up their estoppel timeframe, it has pushed more files to some of the title companies faster than they anticipated which caused the backlog.

Mickeyman, your closing timeline was phenominal (I'm envious), but unfortunately for the rest of us, it's not a typical timeline in the current environment as you can see.

 

[mickeyman]

I

*** has had my estoppel info since September and we don't have closing docs yet. Minimal work on the closing file too as the sellers aren't leveraged and are cash deals; I've aleady completed all the title work and just need them to punch the numbers into their closing template. TSS does use other closing companies. From what I'm reading, I think with Disney speeding up their estoppel timeframe, it has pushed more files to some of the title companies faster than they anticipated which caused the backlog.

Mickeyman, your closing timeline was phenominal (I'm envious), but unfortunately for the rest of us, it's not a typical timeline in the current environment as you can see.

I know mine was much faster than normal but to wait 2 months after receiving estoppel to close seems like way to long. The average seems to be about a month or so

 

[Friendlyadvice2]

I

I know mine was much faster than normal but to wait 2 months after receiving estoppel to close seems like way to long. The average seems to be about a month or so

I must have missed that someone has been waiting 2 months since estoppel without any extenuating circumstances. I'm just about at the 1 month mark and hope I don't have to wait two.

 

[Hockeymouse57]

I think my lesson learned is to get an idea how fast the title companies are moving and then specifically request the title company with the fastest turnaround time at that point in time. The folks at TTS have been great. To be fair, Nancy at *** has been polite and appears to be working long hours to catch up. I'm about to start another transaction and will ask TTS for a different title company based on how fast the 3 companies they use are moving. The time Disney takes is a factor none of us can control. The only leverage we have is the choice of title company. I would expect any title company to have part time/ flex agents they can bring in during peak periods.

Will call around in two weeks before we start our next transaction.

 

[mickeyman]

I think my lesson learned is to get an idea how fast the title companies are moving and then specifically request the title company with the fastest turnaround time at that point in time. The folks at TTS have been great. To be fair, Nancy at *** has been polite and appears to be working long hours to catch up. I'm about to start another transaction and will ask TTS for a different title company based on how fast the 3 companies they use are moving. The time Disney takes is a factor none of us can control. The only leverage we have is the choice of title company. I would expect any title company to have part time/ flex agents they can bring in during peak periods.

Will call around in two weeks before we start our next transaction.

We used vacation world title and had our closing documents 7 days after passing ROFR and closed 3 days after I returned documents

 

[Hockeymouse57]

Thanks very much! I'll check them out in a couple of weeks when we are about to start process #2... Wish we could change now. LOL.

 

[JWG]

Offer accepted - 8/10
Submitted to ROFR - 8/11
Passed ROFR - 9/1
Receieved closing docs - 9/16
Closing docs/payment made - 9/18
Closed - 10/20
Recorded - 10/21
Points in hand - ???

I'm a bit peeved about the time between docs/payment received and closing. That's just a lost month where I could have held onto the money and earned interest. Anyway, Comptroller website shows our documents posted on 10/21, so now just waiting on Disney to be notified and points loaded. Hopefully by mid-November. A little longer than expected, but not much since our estoppel time was shorter than expected.

 

[jnjhuddle]

With our first contract,when the closing company (TT&M)emailed our documents, they gave a closing date that was a month out from when they sent the documents. I didn't mail my payment and documents back until close to the closing date because I didn't see the point of them holding on to my money for a month. It closed only a couple days after they received my payments/documents. Are other title companies giving an actual closing date? If so, why mail your payment as soon as you get the documents? It's my understanding that it takes the seller more time anyway because it needs to be notarized, etc. I'm using *** with my current contract and have not received closing documents yet, but hoping they do the same with giving an actual closing date.

 

[RobbW]

My wife called Member Accounting with an early attempt (9-19 days after recording) to get our member number. MA rep was very nice and helpful. However, she did confirm that it is DVD policy to not give out member numbers over the phone for security reasons. She said it has always been policy not to give it out but that there have been some associates who didn't care and gave out the numbers anyway. She did confirm that are member letter with account number was mailed out today, though. So, only a few days wait on the USPS now!

 

[JWG]

With our first contract,when the closing company (TT&M)emailed our documents, they gave a closing date that was a month out from when they sent the documents. I didn't mail my payment and documents back until close to the closing date because I didn't see the point of them holding on to my money for a month. It closed only a couple days after they received my payments/documents. Are other title companies giving an actual closing date? If so, why mail your payment as soon as you get the documents? It's my understanding that it takes the seller more time anyway because it needs to be notarized, etc. I'm using *** with my current contract and have not received closing documents yet, but hoping they do the same with giving an actual closing date.

Having purchased numerous resale contracts, the closing date given was always a "no later than" date that was an out if the contract didn't close for some reason. It was never "the" closing date. Our experience was we always closed within 1-2 weeks of the docs being done. This was an exception to our experience that they actually held until the no later than date. If we'd known, we'd have done differently.

 

[Hockeymouse57]

For some reason, *** seems to be having significantly more issues than other title companies. Hopefully with Disney clearing it's backlog, brokers will start to look at turn around time when selecting title companies. Best case would be for brokers to have an agreed upon turn around time negotiated with the title company. The feeling I get is that *** is taking so long, brokers might be best served pulling business back if possible.

 

[mickeyman]

Offer accepted - 8/10
Submitted to ROFR - 8/11
Passed ROFR - 9/1
Receieved closing docs - 9/16
Closing docs/payment made - 9/18
Closed - 10/20
Recorded - 10/21
Points in hand - ???

I'm a bit peeved about the time between docs/payment received and closing. That's just a lost month where I could have held onto the money and earned interest. Anyway, Comptroller website shows our documents posted on 10/21, so now just waiting on Disney to be notified and points loaded. Hopefully by mid-November. A little longer than expected, but not much since our estoppel time was shorter than expected.

1 month to close after receiving documents back is crazy. We closed the day after they got my documents back