Closing Time!!

[RaymOOOnd]

Alright I can finally post this now: (BLT)
Offer accepted: 9/01
Passed ROFR: 9/23
Estoppel: ??
Closed: 11/11
Membership number received (snail mail): 11/28

 

[ktmo]

Still waiting
Offer accepted: 8/28
Contract Signed: 8/31
Sent to ROFR: 9/1
Passed ROFR: 9/23
Closing docs signed: 11/12
Closed: Feels like it is NEVER going to happen

 

[girli565]

So here's an update on my resale that's taking forever...

Offer Made - 8/31
Offer accepted - 8/31
Submitted to ROFR - 9/2
Passed ROFR - 9/23
Received closing docs - 11/13
Closing docs returned/payment made - 11/18
Title Co received closing docs - 11/20
Seller signed deed - 11/25
Closing date addendum signed & received by broker (because we went past our original contract closing date) - 12/1
Deed recorded & showing on OC site - ??

So we're still waiting. We had to sign and email back an addendum because we had passed our original closing date of 11/9/15
I went ahead and booked a regular hotel for the Star Wars race weekend in April because I don't want to chance not getting a hotel (like for Everest challenge race weekend when hotels were sold out). And I'm crossing my fingers I can get a DVC studio if I stalk it enough and put in a wait list request.

We finally closed, no notification from *** or my broker, I just happen to search the records site and saw it. We recorded on 12/3.

Offer Made - 8/31
Offer accepted - 8/31
Submitted to ROFR - 9/2
Passed ROFR - 9/23
Received closing docs - 11/13
Closing docs returned/payment made - 11/18
Title Co received closing docs - 11/20
Seller signed deed - 11/25
Closing date addendum signed & received by broker (because we went past our original contract closing date) - 12/1
Deed recorded & showing on OC site - 12/3
Received membership number - ?? (Maybe by Xmas... Wishful thinking I'm sure lol)

 

[NoleFan]

*** seems to be taking forever to generate closing docs. I asked when I would expect closing docs and they advised prior to the closing date on my contract. They already are in receipt of estoppel and still estimate that it will probably be another few weeks (after I asked for a better answer than simply prior to the closing date on my contract). Passed ROFR beginning of November & closing docs estimated end of December & they already have estoppel as of beginning of December. Bought 2 contracts in 2013 & did not take nearly as long to receive closing docs.

 

[icc2515]

*** seems to be taking forever to generate closing docs. I asked when I would expect closing docs and they advised prior to the closing date on my contract. They already are in receipt of estoppel and still estimate that it will probably be another few weeks (after I asked for a better answer than simply prior to the closing date on my contract). Passed ROFR beginning of November & closing docs estimated end of December & they already have estoppel as of beginning of December. Bought 2 contracts in 2013 & did not take nearly as long to receive closing docs.

Pretty much our exact situation. ROFR waived very end of Oct and estoppel a few days latter. Broker said that closing documents would be 30-35 days after ROFR. When I contacted *** at 33 days after ROFR to verify that the timeline was still a go, I was told that it was not and that they would provide the closing documents in time for closing by the contracted time (first week of Jan). Based on shipping times, the fact that this is a foreign seller, we are losing 2 shipping days due to holidays, and this is the busiest shipping time of the year, I am having doubts.

 

[girli565]

*** seems to be taking forever to generate closing docs. I asked when I would expect closing docs and they advised prior to the closing date on my contract. They already are in receipt of estoppel and still estimate that it will probably be another few weeks (after I asked for a better answer than simply prior to the closing date on my contract). Passed ROFR beginning of November & closing docs estimated end of December & they already have estoppel as of beginning of December. Bought 2 contracts in 2013 & did not take nearly as long to receive closing docs.

Pretty much our exact situation. ROFR waived very end of Oct and estoppel a few days latter. Broker said that closing documents would be 30-35 days after ROFR. When I contacted *** at 33 days after ROFR to verify that the timeline was still a go, I was told that it was not and that they would provide the closing documents in time for closing by the contracted time (first week of Jan). Based on shipping times, the fact that this is a foreign seller, we are losing 2 shipping days due to holidays, and this is the busiest shipping time of the year, I am having doubts.

Yeah, that's pretty much the same response I received when I would inquire about our closing papers. I actually heard more current info from my lender while they were drawing up papers. But once they finished their end I was again in the dark. *** is no help. I heard the same thing about closing by the date listed in my contract and we went well past that!

 

[jnjhuddle]

Pretty much our exact situation. ROFR waived very end of Oct and estoppel a few days latter. Broker said that closing documents would be 30-35 days after ROFR. When I contacted *** at 33 days after ROFR to verify that the timeline was still a go, I was told that it was not and that they would provide the closing documents in time for closing by the contracted time (first week of Jan). Based on shipping times, the fact that this is a foreign seller, we are losing 2 shipping days due to holidays, and this is the busiest shipping time of the year, I am having doubts.

I know it's difficult to be patient, but....up until a couple months ago rofr was taking the full 30 days AND the closing companies were still taking 4-5 weeks to send out closing docs. (This has been going on since at least the spring). I can understand (but not love) why the ones that took less than 2 weeks to pass rofr (again, this is relatively new) are now taking longer to get the closing docs out. You could look at it this way.... They legally have no reason to close sooner than your date on your contract....so would rather them be slower on the front end getting the closing docs to me and it closer quicker once I send them my money. If they know they are backlogged from all the contracts that preceded you, it all makes sense.

*** seems to be taking forever to generate closing docs. I asked when I would expect closing docs and they advised prior to the closing date on my contract. They already are in receipt of estoppel and still estimate that it will probably be another few weeks (after I asked for a better answer than simply prior to the closing date on my contract). Passed ROFR beginning of November & closing docs estimated end of December & they already have estoppel as of beginning of December. Bought 2 contracts in 2013 & did not take nearly as long to receive closing docs.

As you can see from this thread, *** is still working on closing docs from ones that passed rofr in September. They are one of the larger closing companies. The ones that are moving quicker are using title companies/lawyers that aren't processing as many DVc deeds. It might be easier on you if you assume it will close on or about the closing date and if it closes before (not as likely) it's a bonus! I wish I bought in 2013 (like you did) when prices were lower and closing was quicker, but my first one was sent in April of this year and didn't get my member number until August!

 

[NoleFan]

I understand the increased volume due to contracts passing ROFR in a shorter time frame. However, from a pure business perspective they should be staffed to meet the needs of the increased volume/business.

 

[ustasmom]

BLT contract:

Offer made: 10/8
Offer accepted - 10/9
Submitted to ROFR - 10/12
Passed ROFR - 10/19
Received closing docs - 11/9
Closing docs/payment made - 11/10
Closed 11/24
Deed Recorded 11/25
Docs sent to Disney 11/30
Show up in DVC system 12/7
Printed membership card in hand from SSR 12/8

 

[pangyal]

Well, after emailing Duncan yesterday and asking for a refund on my closing fees due to the fact that they took their sweet time generating the closing documents (took them over a month after receiving estoppel) and causing us to go well past our closing date on the contract, our deed was miraculously and suddenly recorded as of this morning. I wish they had moved with this urgency at the beginning.

 

[ILoveMyKellen]

Well, after emailing Duncan yesterday and asking for a refund on my closing fees due to the fact that they took their sweet time generating the closing documents (took them over a month after receiving estoppel) and causing us to go well past our closing date on the contract, our deed was miraculously and suddenly recorded as of this morning. I wish they had moved with this urgency at the beginning.

That just sucks! The waiting is the most horrendous part of this whole process and man would I
be super mad.

 

[jnjhuddle]

Well, after emailing Duncan yesterday and asking for a refund on my closing fees due to the fact that they took their sweet time generating the closing documents (took them over a month after receiving estoppel) and causing us to go well past our closing date on the contract, our deed was miraculously and suddenly recorded as of this morning. I wish they had moved with this urgency at the beginning.

Wow! Great idea...Glad you got them moving. Did your VGF with *** close yet??

 

[jnjhuddle]

One step closer to booking vacations instead of dream cations. It's torture to use the Resort Availability Tool with no points available. Haha!
Timeline so far on 150 point OKW using TTS and ***...


Offer made & accepted 9/9
Sent to ROFR 9/10
Passed ROFR 9/30
Addendum (to seller 10/7
name on contract)
Received closing docs 11/5
Returned closing docs 11/30
Closing date addendum 12/1
Closed 12/8
Deed recorded 12/9
Points loaded ????

 

[DisBuckMan]

Well, after emailing Duncan yesterday and asking for a refund on my closing fees due to the fact that they took their sweet time generating the closing documents (took them over a month after receiving estoppel) and causing us to go well past our closing date on the contract, our deed was miraculously and suddenly recorded as of this morning. I wish they had moved with this urgency at the beginning.

Duncan took right at a month to get us our closing docs after receiving estoppel, as well. They've now received our signed docs and payment, and the seller's docs. Now, they're going back to Disney requesting a "final points verification summary", which will take who knows HOW long. Heck, I thought that's what estoppel was for?

 

[ktmo]

I finally closed!!
Offer accepted: 8/28
Contract Signed: 8/31
Sent to ROFR: 9/1
Passed ROFR: 9/23
Closing docs signed: 11/12
Closed: 12/9
Now on to the wait for the letter. Ugh.

 

[AmyKat]

You have to wait for the deed to get recorded, then for Disney to enter it in their system, then for your letter. We closed on 11/13 and received our letter on 12/5.

 

[ktmo]

You have to wait for the deed to get recorded, then for Disney to enter it in their system, then for your letter. We closed on 11/13 and received our letter on 12/5.

Thanks

 

[pangyal]

Wow! Great idea...Glad you got them moving. Did your VGF with *** close yet??

Yes, it finally closed two weeks ago! Used the banked points to book a big birthday trip for next year .

OMG, I am so glad I'm not buying anymore. So frustrating. Hope everyone else's picks up the pace soon!

 

[erdoc38]

Hallelujah! We finally received our closing docs today. Our timeline for our 200pt BLT purchase:

Offer made and accepted - 9/26/15
Sent to ROFR - 10/1/15
Passed ROFR - 10/21/15
Closing docs received and returned - 12/10/15
Closed ???
Recorded ???
Received membership package ???

Here's hoping for some holiday magic and pixie dust so that we close asap! Don't want to lose the extra points that expire 1/31/16!!

 

[disnikki08]

AKV 160 Point Contract closed:

Offer made and accepted: 9/16/15
Sent to ROFR: 9/19/15
Passed ROFR: 10/2/15
Closing Docs received: 11/18/15
Closing Docs returned: 11/20/15
Closed: 12/9/15 (delay due to Seller taking DVC trip on contract being sold)
Recorded: 12/10/15

Now waiting for membership letter. This is my first contract and I'm anxious to see the Availability Tool!