Closing Time!!

[jlmarr]

We passed ROFR on 4/5 and were advised that the contract closed on 4/19. What is estoppel?

 

[GreyTami]

lol, definitely frustrating, but also first world problems. The fun part, assuming we somehow close in the next week or two, is getting the points early enough that I might be able to piece together a last second trip with random 1br's or whatever is left

We were able to do that for Memorial Day weekend on our first contract that loaded points at the beginning of this month, crossing my fingers for you!

 

[starfrenzy]

Home: AKV
Broker: www.dvcsales.com
Title Company: Mason Title
Offer made: 3/24/2021
Offer accepted: 3/24/2021
Sent to ROFR: 3/24/2021
Passed ROFR: 4/20/2021
Estoppel Received:
Closing docs received:
Closing docs returned:
Funds wired:
Sellers closing docs returned:
Closing:
Deed recorded:
Contract Showing on Membership:
Points in account:

Total Time from Offer to Points in Account:

 

[DisneyMom_3]

Almost there!!!

Home: VGF
Broker: www.****************.com
Title Company: Mason Title (Cammy)
Offer made: 03/10/21
Offer accepted: 03/11/21
Sent to ROFR: 03/11/21
Passed ROFR: 04/01/21
Estoppel Received:
Closing docs received: 04/05/21
Closing docs returned: 04/05/21
Sellers closing docs returned: 04/20/21
Closing: 04/22/21
Deed recorded: 04/22/21
Contract Showing on Membership: Already a member
Points in account:

So excited for you neighbor! Hopefully we will both be scheduling a trip with our new points soon!

 

[DisneyMom_3]

Glad you got yours! I’ve been waiting on estoppel since passing ROFR on 3/29, which makes this part even more painful and confusing for me- how are some getting closing docs as soon as the next day or within a week or ROFR and some are waiting 4 weeks ? Or more? Do they use the same dartboard to choose contracts for estoppel as they do for taking ROFR contracts

I think they might! My contract passed ROFR on 3/30 and I received the closing docs on 4/1. At first I thought it might be an April Fool’s Day joke, because I thought it usually took a lot longer than that! Hope you get yours soon!!

 

[Divaofdisney]

Almost there!!

Home: OKW
Broker: www.dvcresalemarket.com
Title Company: Magic Title Company
Offer made: 1/31/21
Offer accepted: 2/1/21
Sent to ROFR: 2/9/21
Passed ROFR: 3/1/21
Estoppel Received: *unclear as to when
Closing docs received: 3/23/21
Closing docs returned: 3/25/21
Sellers closing docs returned: 4/2/21
Closing: 4/21/21
Deed recorded: 4/23/21
Membership created and contract showing:
Points in account:

Total time from offer to points in account:

 

[DisneyMom_3]

We passed ROFR on 4/5 and were advised that the contract closed on 4/19. What is estoppel?

Estoppel happens after ROFR and before closing. It is when Disney reviews the membership and checks to see if there are any outstanding debts against the contract, if the points match, if there are any reservations pending, if there are any dues owed, that the seller has the right to sell the property, etc.

 

[Huxknits]

I think they might! My contract passed ROFR on 3/30 and I received the closing docs on 4/1. At first I thought it might be an April Fool’s Day joke, because I thought it usually took a lot longer than that! Hope you get yours soon!!

Isn’t that amazing! Glad you got yours so quickly and hope mine comes soon. Luckily I’m not feeling a time crunch yet, but it would be nice to know it’s done and the deed is officially ours!

 

[jlmarr]

Milestones I know about...

Home: AKV
Broker: ********** aka *****
Title Company: Mason Title
Offer made: 3/13/21
Offer accepted: 3/14/21
Sent to ROFR: 3/16/21
Passed ROFR: 4/5/21
Title company gets my cashiers check: 4/12/21
Closed: 4/19/21
Deed recorded: 4/20/21
Contract Showing on Membership: 5/4/21 (52 days)
Points in account: (Estimating 5/4/21)

Total time from offer to points in account: (Estimated 52 days)

 

[tripgoerNS]

FINAL UPDATE

Home: SSR
Broker: www.fidelityrealestate.com
Title Company: First American Title
Offer made: 12/31/20
Offer accepted: 1/6/21
Sent to ROFR: 2/3/21
Passed ROFR: 3/1/21
Estoppel Received: 3/17/21
Closing docs received: 3/24/21
Closing docs returned: 3/29/21
Sellers closing docs returned: 4/5/21
Closing: 4/7/21
Deed recorded: 4/8/21
Contract Showing on Membership: 4/20/2021 (New Member)
Points in account: 4/21/2021
Yes I called to have them load the points, only waited 30min on hold and she booked my first reservation on the phone

Total Time from Offer to Points in Account: 111 Days

I now know how important it is to stay on top of the broker at the beginning. Once we got that all sorted (bad emails, zero communication), things went smoothly and the Title Company was great.

 

[MagicKreator]

Home: BLT
Broker: www.dvcresalemarket.com
Title Company: Magic Vacation Title
Offer made: 3/6/21
Offer accepted: 3/6/21
Sent to ROFR: 3/8/21
Passed ROFR: 4/1/21
Estoppel Received: 4/16/21 (likely before then, but just made aware of it when I asked)
Closing docs received:4/20/21
Closing docs returned: 4/21/21; wire sent
Sellers closing docs returned: 4/21/21
Closing: 4/23/21
Deed recorded:
Membership created & contract showing:
Points in account:

Total Time from Offer to Points in Account:

First update on this board for me. I’ve been watching everyone else’s progress here since passing ROFR. We’re very excited that we closed today and will be surprising our kids with the news tonight! We ordered a plaque and will follow up the gift with BLTs for dinner in honor of our new “home” and Mickey bars for dessert (yes, I know the grocery store ones just aren’t the same, but my kids won’t care ). Yay!

Now to (impatiently) wait for my deed to record (I expect Monday) and my account to be created.

 

[Amyeliza]

I'm almost there...my deed was recorded on 4/15. I wish they would hurry up and create my account. I'm soooooo tired of waiting. I want to be OFFICIAL!

 

[DisneyMom_3]

I'm almost there...my deed was recorded on 4/15. I wish they would hurry up and create my account. I'm soooooo tired of waiting. I want to be OFFICIAL!

I hear ya! I closed on the 15th and my deed was recorded on the 16th. I’m trying to be patient and I know this contract has gone quickly, but I started trying to buy in January and it took a few attempts to get one through ROFR so it seems so much longer! I just want to be an OFFICIAL DVC MEMBER too!

 

[Sunnyore]

Just reaching out to the community to get their thoughts. Closing documents went out last Monday (04/12) on a contract I bought. Magic Vacation Title is handling the transaction, and they ask that you respond to the email saying you received the closing forms. I did that. I also drove to the bank, secured a cashiers check, and mailed everything back in 04/14. I received a confirmation from *** on 04/15 saying everything has been received.

I don’t want to sound like an old man screaming “get off my lawn,” but I find it disrespectful that the seller hasn’t contact *** yet. I mean, it’s 04/22 and everything is ready to close. I understand hardships, but we live in a cell phone world. It takes 2 seconds to respond and say, “I’m going through something and it may take me a few extra days.” But to not respond or return documents for over 10 days (*** gives overnight FedEx shipping labels) is disrespectful in my opinion. In a resale transaction, the seller usually is going to want their money ASAP, and the buyer wants their points. This guy isn’t DVC with a ton of contracts. He’s got one. I feel like he shouldn’t be selling if he’s not prepared to respond via email or return documents timely (ie just kind of ghost for over 10 days). There is no default until May 11, but he knows he’s got a buyer in the other end.

I contacted *** and DVC Resale. I’m just curious if you think my expectations are out of line. I’m sure it’ll work out in the end, however, it’s annoying for their to be zero correspondence when it’s asked of you by the title company and there is a buyer waiting.

edit: I guess I can’t write ***, but it’s MagicVacationTitle.

I don't mean to be a downer but the biggest downside of resale is all the wait time involved in every step. 10 days isn't a long wait yet. Seen some where people are waiting all the way until the set closing deadline. I remember reading how a seller said she didn't mean to be a jerk but her job and life made it difficult to get to a notary so it took her a while to send her closing docs back. As long as the seller doesn't back out on the sale, try to focus on the end results of you getting your points eventually and that you saved tons buying resale. But ya, waiting sucks and that's why I loved my direct sales experience so much more but couldn't justify paying direct prices for 2042 resorts.

 

[ella18nm]

Home Resort: BCV
Broker: dvcresalemarket.com
Title Company: Magic Vacation Title
Offer made: 2/12/21
Offer accepted: 2/13/21
Sent to ROFR: 2/15/21
Passed ROFR: 3/4/21
Estoppel Received: 4/2/21
Closing docs received: 4/2/21
Closing docs returned: 4/5/21
Sellers closing docs returned: 4/6/21
Closing: 4/7/21
Deed recorded: 4/9/21
Contract Showing on Membership:
Points in account:

the longest wait besides the estoppel which was a full month, is this one to create my membership! I can't wait

UPDATE
Home Resort: BCV
Broker: dvcresalemarket.com
Title Company: Magic Vacation Title
Offer made: 2/12/21
Offer accepted: 2/13/21
Sent to ROFR: 2/15/21
Passed ROFR: 3/4/21
Estoppel Received: 4/2/21
Closing docs received: 4/2/21
Closing docs returned: 4/5/21
Sellers closing docs returned: 4/6/21
Closing: 4/7/21
Deed recorded: 4/9/21
Contract Showing on Membership: 4/23/21 (New member)
Points in account:

 

[Amyeliza]

Home: BLT
Broker: www.dvcresalemarket.com
Title Company: Magic Vacation Title
Offer made: 3/6/21
Offer accepted: 3/6/21
Sent to ROFR: 3/8/21
Passed ROFR: 4/1/21
Estoppel Received: 4/16/21 (likely before then, but just made aware of it when I asked)
Closing docs received:4/20/21
Closing docs returned: 4/21/21; wire sent
Sellers closing docs returned: 4/21/21
Closing: 4/23/21
Deed recorded:
Membership created & contract showing:
Points in account:

Total Time from Offer to Points in Account:

First update on this board for me. I’ve been watching everyone else’s progress here since passing ROFR. We’re very excited that we closed today and will be surprising our kids with the news tonight! We ordered a plaque and will follow up the gift with BLTs for dinner in honor of our new “home” and Mickey bars for dessert (yes, I know the grocery store ones just aren’t the same, but my kids won’t care ). Yay!

Now to (impatiently) wait for my deed to record (I expect Monday) and my account to be created.

That's so cute. I hope the kids enjoyed their surprise!

 

[iannovich]

I contacted *** and DVC Resale. I’m just curious if you think my expectations are out of line. I’m sure it’ll work out in the end, however, it’s annoying for their to be zero correspondence when it’s asked of you by the title company and there is a buyer waiting.

3 weeks after I returned my docs and wired the funds I contacted them (same title company) and they realized that the seller hadn't returned their docs. I shouldn't have waited so long. You did the right thing contacting them. Who knows how long it would have taken if I hadn't finally decided to poke them (and threatened to walk if the contract didn't actually close on the scheduled closing date, which was only 7 days away)... it still took an additional 5 days to close, and then they didn't actually send the deed to the County when they said they did. I had to poke them one more time. I won't use them again if I have any choice.

But it's all done now. Just waiting for the membership and points!

 

[ClareyLou101]

Home: SSR
Broker: dvcsales.com
Title Company: Mason Title

Offer made: 2/17/21
Offer accepted: 2/18/21
Sent to ROFR: 2/20/21
Passed ROFR: 3/11/21

Closing docs received: 3/26/21
Closing docs returned: 3/26/21
Seller returned closing docs: 4/7/2021
Closing: 4/8/2021
Deed recorded: 4/9/2021
New Membership created: 4/22/2021
Points in account: 4/23/2021

total time from offer made to points received = 65 days

* Final update- points were in my account last night and I’ve booked for August. Whoop .

 

[Jaydee51]

Final Update
Home: PVB
Broker: www.dvcstore.com
Title Company: Mason Title Co
Offer made: 2/12/21
Offer accepted: 2/12/21
Sent to ROFR: 2/15/21
Passed ROFR: 3/4/21
Closing docs received: 3/25/21
Closing docs returned: 3/25/21
Sellers closing docs returned: 3/31/21
Closing: 4/1/21
Deed recorded: 4/2/21
Contract Showing on Membership:4/16/21
Points in account:4/19/21
66 days from offer to points in account as a new member

Congrats! my VGF deed was recorded same day as your Poly - "Deed recorded: 4/2/21" and nothing on disneys end yet, hopefully i will hear something soon.
Welcome Home!

 

[DisneyMom_3]

* Final update- points were in my account last night and I’ve booked for August. Whoop .

So exciting!!
My deed was recorded a week after yours. Hopefully, my membership and points will be next week then!