Closing Time!!

[badeacon]

Your situation is not normal waiting a month to get closing docs.

I have had 2 closings with First American in the past year and one took 3.5 weeks to receive closing documents and the recent one 4 weeks. I was told they could not send closing documents until received the estoppel from DVC and that could take 3-4 weeks. Why are other closing companies able to send closing documents much sooner, in fact some send the next day after passing ROFR. There is just something in the combination of Fidelity and First American that delays closing.

 

[badeacon]

You mean the actual person at FA? Alice and Michael were the 2 I dealt with. I will say he was great with questions. She barely answered my emails lol

As E2ME2 said ,was wondering which broker was involved because we both had Fidelity.

 

[jmccarthy22]

Update: Contract Showing!

Home: Saratoga Springs
Title Company: Mason
Offer made: 01/26/20
Offer accepted: 01/26/20
Sent to ROFR: 01/29/20
Passed ROFR: 2/17/20
Closing docs received: 02/24/20
Closing docs returned: 02/28/20
Seller returned closing doc: 3/23/20
Closing: 3/25/20
Deed recorded: 3/25/20
Member Numbers: Current members
Account showing new contract: 4/8/20
Points in my account:

 

[justadreamaway77]

Update: Contract Showing!

Home: Saratoga Springs
Title Company: Mason
Offer made: 01/26/20
Offer accepted: 01/26/20
Sent to ROFR: 01/29/20
Passed ROFR: 2/17/20
Closing docs received: 02/24/20
Closing docs returned: 02/28/20
Seller returned closing doc: 3/23/20
Closing: 3/25/20
Deed recorded: 3/25/20
Member Numbers: Current members
Account showing new contract: 4/8/20
Points in my account:

OMG, I would go insane if my seller waited almost a month to return closing docs!

 

[MonkeyKnifeFight]

I have had 2 closings with First American in the past year and one took 3.5 weeks to receive closing documents and the recent one 4 weeks. I was told they could not send closing documents until received the estoppel from DVC and that could take 3-4 weeks. Why are other closing companies able to send closing documents much sooner, in fact some send the next day after passing ROFR. There is just something in the combination of Fidelity and First American that delays closing.

I had magic vacation title and even though other got closing documents immediately it took us 3 weeks. After a week they still had not received the estoppel. When I checked again i found out the seller hadn’t returned the open escrow document that was sent out to both of us 6 weeks earlier. I honestly don’t know whether estoppel just got in before the 3 week mark or if it had arrived earlier and the seller didn’t get a reminder for the open escrow document.

 

[jmccarthy22]

OMG, I would go insane if my seller waited almost a month to return closing docs!

It was ridiculous. I think the broker knew they were being ridiculous as well. They were apparently "overwhelmed" by the closing docs. The broker even used quotes when he told me that.

 

[E2ME2]

It was ridiculous. I think the broker knew they were being ridiculous as well. They were apparently "overwhelmed" by the closing docs. The broker even used quotes when he told me that.

Yes - the resale path has been an adventure, and it's much more time-consuming (exhausting) than Direct.
Almost enough to make one willing to pay the extra $75PP to go Direct.......(NOT)!
ET

 

[Mzpalmtree]

Really hoping to see our new contract posted in our account today. Yesterday it appeared they were working on 3/26 recorded contracts and now today we have another 3/25 . I was told the other day they are working in the order they receive them but it sure does feel like they are just pulling them out of a hat.

 

[Lorana]

I hear you on the wait. I love the savings of resale, but man the time it takes to close things out and get the points is a killer.

 

[poofyo101]

I have had 2 closings with First American in the past year and one took 3.5 weeks to receive closing documents and the recent one 4 weeks. I was told they could not send closing documents until received the estoppel from DVC and that could take 3-4 weeks. Why are other closing companies able to send closing documents much sooner, in fact some send the next day after passing ROFR. There is just something in the combination of Fidelity and First American that delays closing.

First American sent me my closing docs within a week for my Aulani purchase a few weeks ago. A week was slower than every other broker.
I have used Magic Vacation, Jeffrey Sweet, Mason Title
All usually have it within 2-3 days.

 

[fixerupper]

Home: Animal Kingdom Villas
Broker: DVC Resale Market
Title Company: Magic Vacation Title
Offer made: 03/05/2020
Offer accepted: 03/06/2020
Sent to ROFR: 03/10/2020
Passed ROFR: 03/25/2020
Closing docs received: 4/7/20
Closing docs returned: 4/8/20
Seller returned closing docs:
Closing:
Deed recorded:
Contract Showing on Membership:
Points in account:

I'm in here now.

Home: Animal Kingdom Villas
Broker: DVC Resale Market
Title Company: Magic Vacation Title
Offer made: 03/05/2020
Offer accepted: 03/06/2020
Sent to ROFR: 03/10/2020
Passed ROFR: 03/25/2020
Closing docs received:
Closing docs returned:
Seller returned closing docs:
Closing:
Deed recorded:
Contract Showing on Membership:
Points in account:

 

[Lizzy1311]

Really hoping to see our new contract posted in our account today. Yesterday it appeared they were working on 3/26 recorded contracts and now today we have another 3/25 . I was told the other day they are working in the order they receive them but it sure does feel like they are just pulling them out of a hat.

I was told it was the order of the time they received the documents but it’s hard to tell. I’m sure it will be soon!

 

[Mzpalmtree]

I was told it was the order of the time they received the documents but it’s hard to tell. I’m sure it will be soon!

That’s what I was told too but I thought you said yours weren’t sent til the 30th? Mine were supposedly sent on the 27th (confirmed by the CM I spoke to Monday) so I think they aren’t going on order.

 

[E2ME2]

First American sent me my closing docs within a week for my Aulani purchase a few weeks ago. A week was slower than every other broker.
I have used Magic Vacation, Jeffrey Sweet, Mason Title
All usually have it within 2-3 days.

Did you find their resale listings competitive , both in price and in loaded points??
I have typically found some of the lowest $PP on the Fidelity site.

 

[Lizzy1311]

That’s what I was told too but I thought you said yours weren’t sent til the 30th? Mine were supposedly sent on the 27th (confirmed by the CM I spoke to Monday) so I think they aren’t going on order.

Well first American said they sent them the 27. Disney said no and resent the 30. So I’m assuming 30th unless the others showed up but i probably trust Disney more lol

 

[Mzpalmtree]

Well first American said they sent them the 27. Disney said no and resent the 30. So I’m assuming 30th unless the others showed up but i probably trust Disney more lol

Well Disney says mine was received on the 27th but we are still waiting so I don’t think they are going in that order. Hence my comment about picking them out of a hat.

 

[Lorana]

Does anyone else wish they could poke their sellers into returning the closing docs faster? ;-)
I *do* recognize given current situations that it may take longer than usual to return documents, especially if they need to be notarized. But I'm hoping to have my points posted before my 7 month window opens for our December trip.

 

[jmccarthy22]

Does anyone else wish they could poke their sellers into returning the closing docs faster? ;-)
I *do* recognize given current situations that it may take longer than usual to return documents, especially if they need to be notarized. But I'm hoping to have my points posted before my 7 month window opens for our December trip.

if I would ever sell, I would never do that to somebody else. I waited almost a month for the sellers to sign their documents. I just think it’s so wrong to do that to people.

 

[E2ME2]

I've not been on the selling side of a DVC transaction yet, but I would think the seller would be more motivated than the buyer, so that he/she can get
the money sooner!?

 

[CmdrThor]

Yes - the resale path has been an adventure, and it's much more time-consuming (exhausting) than Direct.
Almost enough to make one willing to pay the extra $75PP to go Direct.......(NOT)!
ET

FWIW if you are paying for closing you get to choose your closing attorney. The fees for Jeffrey Sweet were a few bucks more than First American, but I bought through Fidelity and selected Jeffrey Sweet and everything went very smoothly.