Closing Time!

[WDWfantasy]

Initial information;

Home Resort: SSR
Broker:
Title Company: masontitle.com
Offer made: 5/27/2023
Offer accepted: 5/28/2023
Sent to ROFR: 5/29/2023
Passed ROFR:
Closing docs received:
Closing docs returned:
Funds wired:
Closing:
Deed recorded:
Contract Showing on Membership (existing member):
Points in account:

 

[WDWfantasy]

When I purchased a resale contract using magicvacationtitle.com as the title company, their turnaround for closing documents was one month even without the seller having any trips planned.

Good to know. Thanks! We’re using masontitle.com, but maybe they all take that long to get closing documents out.

 

[varyth]

Good to know. Thanks! We’re using masontitle.com, but maybe they all take that long to get closing documents out.

When Cammy was with masontitle.com, she would get the closing documents out within a day of ROFR. I hear it isn't as quick now that she has left for another title company, but it should still be much faster than one month.

 

[DonMacGregor]

When Cammy was with masontitle.com, she would get the closing documents out within a day of ROFR. I hear it isn't as quick now that she has left for another title company, but it should still be much faster than one month.

I am no Mason apologist, but there has to be something other than who is preparing the documents (like a backlog due to no ROFR, falling costs and increased sales volume, short staffed, etc.). I mean, it's a total of 3 or 4 pages at best, and it all gets prepared using title/escrow software. Enter the data (that you've had since before you sent the contract to ROFR), it populates the fields in the closing disclosure, and Bob's your Uncle.

 

[KeriBlujeans]

Home Resort: CCV
Broker: www.**********.com
Title Company: www.masontitle.com
Offer made: 3/17
Offer accepted: 3/23
Sent to ROFR: 3/24
Passed ROFR: 3/31
Closing docs received: 4/4
Closing docs returned: 4/4 (Buyer), 5/4 (Seller)
Closing: 5/11
Deed recorded: 5/19
Contract Showing on Membership (new member): 6/3
Points in account:

So close! Just waiting on points at this point. There have been some more delays along this path than I expected. And during different stages in the process than I anticipated. I'm excited to book my first DVC stay where I'm using my own points and not renting points!

 

[lilsonicfan]

I closed on the 22nd and recorded on the 23rd. Does anyone know what the email address is so I make sure I don’t miss it.

donotreply@disneyvacationclub.com

 

[Epcot Forever Forever]

donotreply@disneyvacationclub.com

of course it is.

*sighs, long and hard*

 

[Liquidice]

Good to know. Thanks! We’re using masontitle.com, but maybe they all take that long to get closing documents out.

When Cammy was with masontitle.com, she would get the closing documents out within a day of ROFR. I hear it isn't as quick now that she has left for another title company, but it should still be much faster than one month.

I am no Mason apologist, but there has to be something other than who is preparing the documents (like a backlog due to no ROFR, falling costs and increased sales volume, short staffed, etc.). I mean, it's a total of 3 or 4 pages at best, and it all gets prepared using title/escrow software. Enter the data (that you've had since before you sent the contract to ROFR), it populates the fields in the closing disclosure, and Bob's your Uncle.

Maybe just luck, but I am using https://www.masontitle.com/ for my purchase and I got my closing documents 24 hours after I passed ROFR. You can see my previous post for the timeline, but I passed on 5/30/23 and I got closing documents on 5/31/23. Unfortunately, I'm now still waiting for the sellers to complete their side, so closing has not yet occurred.

 

[DonMacGregor]

Maybe just luck, but I am using https://www.masontitle.com/ for my purchase and I got my closing documents 24 hours after I passed ROFR. You can see my previous post for the timeline, but I passed on 5/30/23 and I got closing documents on 5/31/23. Unfortunately, I'm now still waiting for the sellers to complete their side, so closing has not yet occurred.

Yeah, just seemed to me that there had to be something besides who was on the file that was causing the delays. Hopefully they are back on track.

 

[Epcot Forever Forever]

Stupidest stupid question,

Mason said my closing is today; I assume someone from Mason will contact me in some way to let me know that’s complete? Or is it the broker?

 

[Redsred3]

Someone from Mason emailed me letting me know it was closed. But I also received emails from the broker, a few hours later, congratulating me on it closing.

 

[DonMacGregor]

Stupidest stupid question,

Mason said my closing is today; I assume someone from Mason will contact me in some way to let me know that’s complete? Or is it the broker?

Here's my last one from Mason:

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

 

[disney-inspired]

Just curious about the gap of a month between passing ROFR and receiving closing docs. Is that because the previous owners had a trip planned? I’m waiting on ROFR now on a SSR contract (I’m the buyer). I’m hoping that it doesn’t take that long from passing to receiving closing documents.

When I purchased a resale contract using magicvacationtitle.com as the title company, their turnaround for closing documents was one month even without the seller having any trips planned.

No trip planned for mine, it just took Magic Vacation title that long to get me the docs.

 

[BuzzLightyear1988]

I was looking for some clarification about the FIRPTA tax (International Weller). I thought that the seller was responsible for paying this. I just received my closing documents and it has a section on it and from what I am reading it looks like it wants me to hold funds for that. I have a question into the title company however I asked about this before I purchased it and was told it was the sellers responsibility

I have the same problem, I found out in my closing documents that I bought from an international seller, Now all of a sudden $200 firpta services were listed. How did you guys handle this?

 

[BuzzLightyear1988]

I’m in ROFR for a contract with a UK seller. The selling agent told me I had no responsibility and that the title company would hold the tax in escrow. Who are you going through?

Same question
I have the same problem, I found out in my closing documents that I bought from an international seller, Now all of a sudden $200 firpta services were listed. How did you guys handle this?

 

[DonMacGregor]

I have the same problem, I found out in my closing documents that I bought from an international seller, Now all of a sudden $200 firpta services were listed. How did you guys handle this?

FIRPTA taxes are paid by the seller, and are to be withheld from the sales proceeds and sent to the IRS along with a Form 8288 by the escrow company. You don't pay anything.

 

[Good Ol Gal]

Home Resort: CCV
Broker: www.**********.com
Title Company: www.masontitle.com
Offer made: 3/17
Offer accepted: 3/23
Sent to ROFR: 3/24
Passed ROFR: 3/31
Closing docs received: 4/4
Closing docs returned: 4/4 (Buyer), 5/4 (Seller)
Closing: 5/11
Deed recorded: 5/19
Contract Showing on Membership (new member): 6/3
Points in account:

So close! Just waiting on points at this point. There have been some more delays along this path than I expected. And during different stages in the process than I anticipated. I'm excited to book my first DVC stay where I'm using my own points and not renting points!

Your closing date is making me excited that our 5/26 closing may be showing next week!

 

[KalamityJane]

Home Resort: Aulani
Broker: https://vacatia.com/
Title Company: https://www.firstam.com
Offer made: 5/15/23
Offer accepted: 5/15/23
Sent to ROFR: 5/15/23
Passed ROFR: 6/5/23
Closing docs received:
Closing docs returned:
Closing:
Deed recorded:
Contract Showing on Membership (new member):
Points in account:

Days Total:

Updated - passed ROFR today!

 

[everyday_magic]

Got my welcome email!!! But where do I find my club ID? I have the activation code

 

[AHal1023]

Got my welcome email!!! But where do I find my club ID? I have the activation code

What date was your deed recorded? I believe you will get another email with the activation code