Closing Time!

[CrystalClear82]

We are at 15 days since ROFR waived and still don’t have closing docs. I emailed the title company and they said expect them next week sometime.

This is painful.

Ditto.
I'm pretty sure my chance at an early summer vacation is gone.

 

[E2ME2]

Ditto.
I'm pretty sure my chance at an early summer vacation is gone.

I feel your pain!
I'm still waiting for Disney to acknowledge my new contract, but it was delayed due to multiple hiccups with the Title company, and I'm watching BWV availability disappear daily, for my 2024 trip. I will probably have to book pieces, based on availability and wait-list, hoping it comes together before year-end.
Hang in there!

 

[snowy82]

Ditto.
I'm pretty sure my chance at an early summer vacation is gone.

I feel your pain. Seems like ROFR was the least of everyone’s problems this time around! Closing docs and Disney emails have caused more frustration lol

 

[Ritz]

Update 2

Home Resort: SSR
Broker:https://www.****************.com
Title Company: Mason
Offer made: 3/3/23
Offer accepted: 3/4/23
Sent to ROFR:3/7/23
Passed ROFR: 3/10/23
Closing docs received:3/15/23
Closing docs returned: buyer, 3/15/23, seller, 3/21/23
Funds wired 3/22/23
Closing: 3/23/23
Deed recorded: 3/24/23
Contract Showing on Membership (new member):
Points in account:

Days Total:


I mistakenly thought this part would be less nerve wracking.

 

[Lucky Wall-E]

Update 2

Home Resort: SSR
Broker:https://www.****************.com
Title Company: Mason
Offer made: 3/3/23
Offer accepted: 3/4/23
Sent to ROFR:3/7/23
Passed ROFR: 3/10/23
Closing docs received:3/15/23
Closing docs returned: buyer, 3/15/23, seller, 3/21/23
Funds wired 3/22/23
Closing: 3/23/23
Deed recorded: 3/24/23
Contract Showing on Membership (new member):
Points in account:

Days Total:


I mistakenly thought this part would be less nerve wracking.

I am right here with you, waiting for the deed to record and then I see from others experience that it could easily be another 2 weeks before I see points.
I know everything should show up and I will be able to book, but I still can't help thinking Murphys law is waiting for the last laugh.

 

[Ritz]

I am right here with you, waiting for the deed to record and then I see from others experience that it could easily be another 2 weeks before I see points.
I know everything should show up and I will be able to book, but I still can't help thinking Murphys law is waiting for the last laugh.

I don't mind/totally expected to have to wait but I just keep thinking thoughts like "what if they have my email wrong?"

 

[ClaraOswald]

How do I even know if ours has closed? All parties have signed and our money was received. We weren't told an actual closing date. So how do I know?

We're using Mason title. (Purchased contract via https://dvcsales.com/)

 

[CathoDad22]

Update 2

Home Resort: SSR
Broker:https://www.****************.com
Title Company: Mason
Offer made: 3/3/23
Offer accepted: 3/4/23
Sent to ROFR:3/7/23
Passed ROFR: 3/10/23
Closing docs received:3/15/23
Closing docs returned: buyer, 3/15/23, seller, 3/21/23
Funds wired 3/22/23
Closing: 3/23/23
Deed recorded: 3/24/23
Contract Showing on Membership (new member):
Points in account:

Days Total:


I mistakenly thought this part would be less nerve wracking.

You may still set a board record for fastest offer to points though.
I offered 20 days before you and only closed 1 day ahead of you.

 

[Lucky Wall-E]

How do I even know if ours has closed? All parties have signed and our money was received. We weren't told an actual closing date. So how do I know?

We're using Mason title. (Purchased contract via https://dvcsales.com/)

Send an email asking for when the closing is to take place since all monies and documents are in.

 

[DonMacGregor]

How do I even know if ours has closed? All parties have signed and our money was received. We weren't told an actual closing date. So how do I know?

We're using Mason title. (Purchased contract via https://dvcsales.com/)

I have used Mason on all but one of our 7 resale contracts. Every time, Cammy has sent a variation on the following email:

Good evening,


Great News! The Disney transaction finalized today.

Disney will be notified of the change of ownership within 1-3 business days. Please allow Disney 3-4 weeks to complete the transfer once notified.

Disney will notify you by email when the transfer is completed. The points can take up to an additional 14 days to show in your account upon completion of the transfer.

The recorded deed and owner’s policy will be electronically sent via email within 30 business days.

Congratulations on your purchase and we hope you enjoy your vacation property.

Thank you for the opportunity to be of service to you in this transaction.


Sincerely,


Cammy Smith, Escrow Officer
Mason Title & Escrow Company

If everything gets done first thing in the morning, the email usually arrives later that evening. If everythin is completed after noon, then the email arrives the following business day.

 

[disney-inspired]

Home Resort: SSR
Broker: Fidelity
Title Company: First American
Offer made: 2/14/23
Offer accepted: 2/14/ 23
Sent to ROFR: 3/2/23
Accepted through Disney: ROFR 3/9/23
Closing docs received: 3/17/23
Closing docs returned: 3/17/23
Closing docs returned (seller): 3/28323
Closing: 3/30
Deed Recorded 3/30
Contract Showing on Membership:
Points in account:

Wow, that was long wait until they sent to ROFR - if you don't mind me asking, what happened?

 

[macman123]

Home Resort: Saratoga
Broker: Fidelity
Title Company: Mason
Offer made: 1/24/23
Offer accepted: 1/25/23
Sent to ROFR: 1/29/23
Passed ROFR: 2/17/23
Closing docs received: 2/27/23
Closing docs returned: mine 2/28/23 , sellers ?
Closing: 3/17/23
Deed recorded: 3/20/23
Contract Showing on Membership (existing): 04/01/23
Points in account:

 

[ClaraOswald]

I have used Mason on all but one of our 7 resale contracts. Every time, Cammy has sent a variation on the following email:



If everything gets done first thing in the morning, the email usually arrives later that evening. If everythin is completed after noon, then the email arrives the following business day.

You mean you got this the next day after all papers signed/money sent? Everything was in on Wednesday afternoon but I've heard nothing since.

 

[BattyKoda]

Final update:

Home Resort: AKV
Broker: https://www.fidelityrealestate.com
Title Company: First American Title Insurance
Offer made: 2/10
Offer accepted: 2/15
Sent to ROFR: 2/23
Passed ROFR: 3/7
Closing docs received: 3/10
Closing docs returned: 3/10
Closing: 3/10 - No idea on this one really, as I thought that I was still waiting on the seller to sign... surprise
Deed recorded: 3/15
Contract Showing on Membership (new member): 3/30
Points in account: 4/2 (no call)

Days Total: 51

 

[macman123]

Home Resort: Saratoga
Broker: Fidelity
Title Company: Mason
Offer made: 1/24/23
Offer accepted: 1/25/23
Sent to ROFR: 1/29/23
Passed ROFR: 2/17/23
Closing docs received: 2/27/23
Closing docs returned: mine 2/28/23 , sellers ?
Closing: 3/17/23
Deed recorded: 3/20/23
Contract Showing on Membership (existing): 04/01/23
Points in account: 04/02/23 (no call)

 

[DonMacGregor]

You mean you got this the next day after all papers signed/money sent? Everything was in on Wednesday afternoon but I've heard nothing since.

I typically get the email saying the sale closed the day after everything is received by Mason.

 

[SheSingsAlong]

Questions for the hive mind since I don't think I should call my Escrow Officer on a Sunday:

We were reviewing our closing documents to sign and the final $ amount due is different than what was in the contract. Specifically, the annual dues owed for 2023 were calculated to be lower in the contract than what is stated in the closing documents. I do believe the amount stated in the closing documents is actually correct (possibly what they provided in the contract was 2022 dues?), but I'm concerned that we signed a contract for one amount and are now being charged for a different amount. Is this normal? Acceptable?

Second question: There is a $25 closing reserve charge which says "refundable" next to it. I'm guessing this exists in case there's a small overage in what we owe, but again, since we are signing contracts and legal documents with specific dollar amounts quoted, why might we be on the hook for additional funds? And will the $25 be refunded to us automatically at close of escrow (if not needed)?

I think I'm just very confused about how binding or not-binding the contracts are related to specific amounts due.

 

[Chases]

We are at 15 days since ROFR waived and still don’t have closing docs. I emailed the title company and they said expect them next week sometime.

This is painful.

We are still in the same boat! This is my first time buying DVC and it is intense.

 

[DonMacGregor]

The stress and anxiety expressed in this thread (and the ROFR thread) over the past two months is a perfect example of a self-fulfilling prophesy. As recently as last fall, expectations were that you'd need to wait a day or two to hear back from a seller (or longer if the offer was made on a Friday), then sit through ROFR for 14-21 days (or longer) before getting close to closing. Then, it would take up to 14 days to get all the docs back from the seller, then you'd wait a week or so to close, another 14-21 days for your contract to appear on your dashboard, then another week at minimum (unless you called to hound them) to see your points appear. 60, 75, even 90 days from offer to points in the dashboard was the absolute norm, and no one thought anything of a day or a week passing before a milestone was considered to be overdue.

These days, if something takes more than a day or so, or if someone else's process is moving even marginally faster than yours, all kinds of panic ensues. "Why haven't I heard back?" "What do you think is wrong?" "Should I call to see what the status is?" "I'm having a panic attack!" The stress and anxiety is entirely self-created, and lies solely in the expectations buyers are creating regarding how fast they think things should happen, then the disappointment and anxiety when they process doesn't meet that timeline.

I think everyone needs to take a deep breath and relax. The speed with which some of theses sales are progressing is far from the historical norm. We are in the exception, not the rule.

 

[macman123]

These days, if something takes more than a day or so, or if someone else's process is moving even marginally faster than yours, all kinds of panic ensues. "Why haven't I heard back?" "What do you think is wrong?" "Should I call to see what the status is?" "I'm having a panic attack!" The stress and anxiety is entirely self-created, and lies solely in the expectations buyers are creating regarding how fast they think things should happen, then the disappointment and anxiety when they process doesn't meet that timeline.

I think everyone needs to take a deep breath and relax. The speed with which some of theses sales are progressing is far from the historical norm. We are in the exception, not the rule.

I agree. Resale is never quick.

The alternative is to buy direct and get points within hours.

Or you can save a ton of $ and buy resale, but it takes time

When I initially brought around the pandemic it was 90 days.

To give an idea:

ROFR submitted: 27th April
Passed: 28th May
Closed: 15th June
Added to account: 22nd July
Points added: 7th August