Closing Time!!

[DisBuckMan]

Well, we finally closed, I guess. Received no word from our closing company, but I noticed that our deed showed up on the OCC website yesterday. Hopefully, we'll receive our member number by Christmas. I guess overall, ours moved very quickly. It's very obvious from our timeline that Disney is NOT the holdup on things right now...it's the closing companies. We could have been done in a month easily if not for the 4 week wait for our closing documents. Our timeline:

10/19/15 FORMAL OFFER MADE / NEGOTIATIONS / ACCEPTED
10/20/15 CONTRACT RECEIVED, SIGNED, & RETURNED VIA EMAIL TO BROKER
10/20/15 SELLER CONTRACT SIGNED AND RETURNED
10/20/15 CONTRACT SUBMITTED TO DISNEY FOR ROFR
10/20/15 SIGNED CONTRACT & ESCROW SENT TO TITLE COMPANY
10/23/15 NOTIFIED BY TITLE COMPANY OF RECEIPT AND DEPOSIT OF ESCROW MONEY
10/30/15 PASSED ROFR
11/5/15 RECEIVED ESTOPPEL
12/3/15 RECEIVED CLOSING DOCUMENTS
12/4/15 RETURNED CLOSING DOCUMENTS AND PAYMENT
12/11/15 DEED RECORDED

 

[disneyfan314]

We closed today!!!! Here's our timeline:

Offer made and accepted: 11/17
Passed ROFR: 11/23
Estoppel: ????
Received closing docs: 12/1
Returned closing docs and payment made (electronically): 12/2
Received notification of closing: 12/14
Deed recorded: 12/14

I'm not sure when the seller returned his closing documents, when I emailed last Weds they hadn't received them back yet, but I got the email that things were done very early this morning. My guess is he returned them at the very end of last week or over the weekend. I checked the OCC site this afternoon and my deed is there! Now comes the wait to get our number from DVC!

This has really been a quick and easy process for us! I'm so ready to start planning my first trip as a DVC member!

 

[disneyfan314]

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

Seeing your timeline makes me hopeful that I will get my DVC card soon! Today we closed, docs were sent to Disney, and our deed was recorded. Maybe I'll get my member number before Christmas! Fingers crossed!

 

[jnjhuddle]

We closed today!!!! Here's our timeline:

Offer made and accepted: 11/17
Passed ROFR: 11/23
Estoppel: ????
Received closing docs: 12/1
Returned closing docs and payment made (electronically): 12/2
Received notification of closing: 12/14
Deed recorded: 12/14

I'm not sure when the seller returned his closing documents, when I emailed last Weds they hadn't received them back yet, but I got the email that things were done very early this morning. My guess is he returned them at the very end of last week or over the weekend. I checked the OCC site this afternoon and my deed is there! Now comes the wait to get our number from DVC!

This has really been a quick and easy process for us! I'm so ready to start planning my first trip as a DVC member!

Wow! Congrats. Awesome timeline!! I think you may have beaten some records on this one. I see you used the timeshare store. Did you also use ***?

 

[LionKingCPA]

Anyone seeing longer than expected wait times for membership letter? We closed 11/16 and were recorded on the OCC website 11/18. It seems like most posters on this board get their letter in three weeks at the most.

 

[ILoveMyKellen]

Soooo no word from either my broker or the title company but apparently I closed without being notified. The only reason I know is because I saw the deed on the occ website. Is this normal practice?

My timeline:

9-4-15 Offer accepted
9-23-15 Passed ROFR
11-18-15 Closing documents received, payment sent (due to scheduled vacation)
12-14-15 Deed recorded

 

[knobster]

Soooo no word from either my broker or the title company but apparently I closed without being notified. The only reason I know is because I saw the deed on the occ website. Is this normal practice?

My timeline:

9-4-15 Offer accepted
9-23-15 Passed ROFR
11-18-15 Closing documents received, payment sent (due to scheduled vacation)
12-14-15 Deed recorded

The same thing happened to us. I just found it on the OCC site one day. Our closing agent was Duncan Title, by the way.

 

[ILoveMyKellen]

The same thing happened to us. I just found it on the OCC site one day. Our closing agent was Duncan Title, by the way.

Ours was Timeshare, Title & More. You would think someone would at least send an email or something as DVC sure isn't cheap.

 

[jnjhuddle]

Ours was Timeshare, Title & More. You would think someone would at least send an email or something as DVC sure isn't cheap.

I was notified by my broker via email both times I closed. First was with DVC Magic resales and TT&M. I just went back and looked at my records and TT&M also notified me of the closing. My most recent purchase I was notified by the broker (TTS)not the title company.

 

[ktmo]

We used TT&M and I did receive an email from a Closing Assistant at TT&M that my deed has been recorded. But I never heard anything from the broker.

 

[knobster]

Looking back, Duncan did send me an email the day after the deed was recorded on OCC to
say that they were forwarding the deed to Disney. Also, when I had emailed a few days before,
I copied the broker. Duncan didn't respond to that right away, but the broker responded that they
checked something that told them that Duncan had forwarded the deed to OCC, but the broker
hadn't been notified themselves. So the broker found out from ME after I checked OCC.

 

[jnjhuddle]

Final timeline!!!!!!!

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 12/15

 

[ILoveMyKellen]

I was notified by my broker via email both times I closed. First was with DVC Magic resales and TT&M. I just went back and looked at my records and TT&M also notified me of the closing. My most recent purchase I was notified by the broker (TTS)not the title company.

I spoke too soon. I guess I'm too excited for my own good. I did receive an email today saying the deed was being sent to Disney and it would be 12 to 14 business days before Disney could complete the transfer.

 

[Vernie822]

Received our closing docs Monday - finally! Was exactly 8 weeks from passing ROFR to receiving closing docs from TT&M. Hoping to get them returned & money sent tonight.

 

[satman1962]

I can tell you that my deed was recorded on the OCC site Dec 14th and I already see the new contract on my DVC home page. No points loaded as yet though... This from ROFR date Oct 1 2015.

 

[jnjhuddle]

I can tell you that my deed was recorded on the OCC site Dec 14th and I already see the new contract on my DVC home page. No points loaded as yet though... This from ROFR date Oct 1 2015.

Mine took 3 business days to show up in the system after deed was recorded and another day for the points to load...so you should have your points tomorrow. They told me 24-48 hours, but it only took 24 hours.

 

[DMOMof3]

Just received my closing documents! How long do I have to return them?

 

[LenInMaine]

Received our closing docs Monday - finally! Was exactly 8 weeks from passing ROFR to receiving closing docs from TT&M. Hoping to get them returned & money sent tonight.

8 weeks? Wow. This is getting ridiculous with TT&M. They are handling our closing. We passed ROFR on 11/9, at that point I was told 4-6 weeks. When I contacted them at week three to check if we were on schedule I was told "Early Dec". Now I'm reading that everyone else who passed within weeks of me are in the 7-8 week range just to get the closing Docs. Even then closing is still taking another 2 weeks after that. So on a 7-8 week schedule (not including two major holidays), I'm looking at mid Jan. I was hoping to be able to book a 1br for the end of April at SSR. I'm not really to worried about it, as I know SSR 1Brs can easily had last minute. But am I the only one who things this is just getting nuts? Disney is busting through ROFRs and Estoppels, so that backs things up. I understand that. But 8 weeks just to get closing Docs? All said and done, resale is becoming a 4-5 month process.

 

[Vernie822]

8 weeks? Wow. This is getting ridiculous with TT&M. They are handling our closing. We passed ROFR on 11/9, at that point I was told 4-6 weeks. When I contacted them at week three to check if we were on schedule I was told "Early Dec". Now I'm reading that everyone else who passed within weeks of me are in the 7-8 week range just to get the closing Docs. Even then closing is still taking another 2 weeks after that. So on a 7-8 week schedule (not including two major holidays), I'm looking at mid Jan. I was hoping to be able to book a 1br for the end of April at SSR. I'm not really to worried about it, as I know SSR 1Brs can easily had last minute. But am I the only one who things this is just getting nuts? Disney is busting through ROFRs and Estoppels, so that backs things up. I understand that. But 8 weeks just to get closing Docs? All said and done, resale is becoming a 4-5 month process.

I agree. I was starting to get really irritated. When we passed ROFR on 10/19, I received an email from our broker stating that it would take 4-6 weeks. At the beginning of week 5, we had just returned from vacation and I wanted to make sure I didn't miss anything. I asked and was told I should expect closing docs the week of 11/30 (which I believe was the 6th week). We did not receive anything until 12/14. I know they are backed up because Disney is going through these ROFR's pretty quickly (it seems), but 8 weeks is far too long IMO. Now I'm sure it will take forever to get our closing docs in b/c our sellers have been quite pokey.

 

[LenInMaine]

I agree. I was starting to get really irritated. When we passed ROFR on 10/19, I received an email from our broker stating that it would take 4-6 weeks. At the beginning of week 5, we had just returned from vacation and I wanted to make sure I didn't miss anything. I asked and was told I should expect closing docs the week of 11/30 (which I believe was the 6th week). We did not receive anything until 12/14. I know they are backed up because Disney is going through these ROFR's pretty quickly (it seems), but 8 weeks is far too long IMO. Now I'm sure it will take forever to get our closing docs in b/c our sellers have been quite pokey.

My predicted closing is Jan 18th. I'm figuring I'll get the Docs, and just have time to get them returned for closing. Is what it is. I just wish the title companies would be a little more upfront about it.