Closing Time!

[crvetter]

No luck yet. I have spoken with the title company as well and they basically said to give Fidelity a chance to resolve it and that she could escalate to a higher up at Fidelity too.

Fidelity is saying that the sellers did not use any of the points (well, duh, they expired!) and is basically telling me that I should leave it there because we got the sellers to accept a low offer.

I told them that the listing and contract mentioned the points were included, that either the sellers or Fidelity misrepresented the contract and I expect to be covered by the clause setting a rental price of $25 per missing point. Waiting to hear back from them on that.

What’s confusing is the entire estoppel process is meant to verify the contract and point DVC sees and reconcile the both. So either the paperwork they submitted (title company, right?) without the banked points or DVC missed that they were gone during that process or DVC missed them when manually setting up the account.

But it should be easy, ask for the estoppel letter, not sure it possible but worth the ask. Then see if that agrees with the contract if not then go after Fidelity/Title Company (odds are Title Company would be at fault if the Estoppel and Contract weren’t in agreement).

 

[Sandisw]

What’s confusing is the entire estoppel process is meant to verify the contract and point DVC sees and reconcile the both. So either the paperwork they submitted (title company, right?) without the banked points or DVC missed that they were gone during that process or DVC missed them when manually setting up the account.

But it should be easy, ask for the estoppel letter, not sure it possible but worth the ask. Then see if that agrees with the contract if not then go after Fidelity/Title Company (odds are Title Company would be at fault if the Estoppel and Contract weren’t in agreement).

I have been told that estoppel only verifies the financial aspects of the situation. They do not verify the points.

The past few contracts have sold I had to send a points statement after RoFR and before it could close.

DVC used to send it but they stopped years ago. So, I don’t think estoppel would catch anything like this.

 

[crvetter]

I have been told that estoppel only verifies the financial aspects of the situation. They do not verify the points.

The past few contracts have sold I had to send a points statement after RoFR and before it could close.

DVC used to send it but they stopped years ago. So, I don’t think estoppel would catch anything like this.

Strange when I sold (end of 2022) they did verify the status of the points (or so I thought). Because I was transferring points to another contract but was timing it with DVC and the agent (closest to a guarantee). Initially they got the request before I did the transfer so they called my agent to ask why it was off so did the transfer and all was good.

I do think it’s worthwhile asking for the paperwork in this situation because someone somewhere dropped the ball. So I think it’s better to assume the information must be incorrect somewhere and missed by the title company whose job it is to be the last check. Though perhaps as you suggest the estoppel might not be the answer but something will have it (assuming of course they just don’t pay out for the missing points).

 

[Nxsteven]

I didn't realize this thread was a thing but I'll be updating it with my info soon!

We're set to close on 7/10 on a contract that includes 19 points from 2023. We have a trip coming up scheduled 7/20-7/26 using our existing contact. Both are June UY.

I realize there's a slim chance our points would even be loaded by the end of our trip but if they do make it, would I be able to swap the 19 points with our existing reservation?

 

[atthebeachclub]

FINAL UPDATE: I have all my points!!

Home Resort: BLT
Broker: Redacted by me because it was a bit of a messy transaction
Title Company: https://www.dvcclosings.com/
Offer made: 4/28/24
Offer accepted: 4/29/24
Sent to ROFR: 5/17/24 (broker forgot? Unclear. Contract wasn’t sent to the title company either until then, after title company suspected something was wrong and reached out to broker.)
Passed ROFR: 6/7/24
Closing docs received: 6/7/24
Closing docs returned: 6/8/24 (buyer), 6/17/24 (seller)
Closing: 6/17/24
Deed recorded: 6/18/24
Contract Showing on Membership (existing member): 7/3/24 (this might have been because I emailed member admin earlier that day to ask)
Points in account: 7/5/24 after asking for this via chat

Days Total: 68

 

[sparkhill]

I didn't realize this thread was a thing but I'll be updating it with my info soon!

We're set to close on 7/10 on a contract that includes 19 points from 2023. We have a trip coming up scheduled 7/20-7/26 using our existing contact. Both are June UY.

I realize there's a slim chance our points would even be loaded by the end of our trip but if they do make it, would I be able to swap the 19 points with our existing reservation?

You are probably not going to be able to swap points. Upon close, the deed still needs to be recorded and then member administration has to load the info, which takes 2-3 weeks. Member services can often juggle things around as a "one-time" courtesy, especially on a newly purchased contracts, but not after a reservation has started.

I recently purchased a resale and member services helped unwind banked and borrowed points on an upcoming reservation 9 months out at my home resort, but some part of the transaction required them to re-book my reservation, so it would not have been possible with tighter availability.

 

[DonMacGregor]

Update 5:

Home Resort: AUL
Broker: https://www.dvcresalemarket.com/
Title Company: https://www.firstam.com
Offer made: 5/13
Offer accepted: 5/13
Sent to ROFR: 5/14
Passed ROFR: 6/5
Closing docs received: 6/6
Closing docs returned, buyer: 6/6
Closing docs returned, seller: 6/13
Closing: 6/18
Deed recorded: 6/18
Contract Showing on Membership (existing member):
Points in account:

Days Total: 53

Sort of a non-update. After seeing reports of several deals that closed after mine showing contracts and points loaded onto dashboards at the end of June, I finally reached out to MS today, just to see if there was some sort of problem (and fully expecting to get the usual "it can take up to XX weeks" canned response). Surprisingly, I got the following response:

It does not appear the information has been received from the resale company at this time.

That's an unusual response from them (level of detail-wise), so now I'll need to follow up with DVC Resale Market and see if they can see what's going on.

Sigh....

 

[Sandisw]

I didn't realize this thread was a thing but I'll be updating it with my info soon!

We're set to close on 7/10 on a contract that includes 19 points from 2023. We have a trip coming up scheduled 7/20-7/26 using our existing contact. Both are June UY.

I realize there's a slim chance our points would even be loaded by the end of our trip but if they do make it, would I be able to swap the 19 points with our existing reservation?

Any swapping of points 30 days or less from check in result in the freed up points going into holding.

So, even if you got the points in time, you’d have to ask MS to make an exception to the holding rule, which they may or may not grant.

 

[VGCgroupie]

FINAL UPDATE: I have all my points!!

Congrats!!

 

[atthebeachclub]

Congrats!!

Thank you! I wasted no time in booking almost every single one of them, too.

 

[NewDisneyEnthusiast]

Thank you! I wasted no time in booking almost every single one of them, too.

hooray!!! I just did the same thing. Banked the 24 points and just booked a 2025 May vacation using all but 5 points! What a great feeling.

This is more like an addiction. The more we stay, the more points we need and stay more/longer the next time. Does it ever end?

 

[DonMacGregor]

Update 6:

Home Resort: AUL
Broker: https://www.dvcresalemarket.com/
Title Company: https://www.firstam.com
Offer made: 5/13
Offer accepted: 5/13
Sent to ROFR: 5/14
Passed ROFR: 6/5
Closing docs received: 6/6
Closing docs returned, buyer: 6/6
Closing docs returned, seller: 6/13
Closing: 6/18
Deed recorded: 6/18
Contract Showing on Membership (existing member): 7/5
Points in account:

Days Total: 53

Like a Christmas miracle, look what showed up on my dashboard this afternoon, just 6 hours after being told "It does not appear the information has been received from the resale company at this time". Sure....

 

[Sprinkles&Sprints]

hooray!!! I just did the same thing. Banked the 24 points and just booked a 2025 May vacation using all but 5 points! What a great feeling.

This is more like an addiction. The more we stay, the more points we need and stay more/longer the next time. Does it ever end?

Nope

 

[FrancisK7]

If you pull up your deed here: https://or.occompt.com/recorder/web/

Is the recorded date on file with the county the true notice date for Disney, or the one that appears on the document?

In some cases for me, there is a 10 days difference between what appears on the document (and the date I was e-mailed to announce close) and the actual recorded date.

 

[teetee830]

Home Resort: PVB
Broker: https://www.dvcresalemarket.com/
Title Company: Magic Vacation Title
Offer made: 04/04/2024
Offer accepted:04/04/24
Sent to ROFR: 04/06/24
Passed ROFR: 04/26/24
Closing docs received: 05/01/24
Closing docs returned: 05/03/24 (Buyer); 6/14/2024 (seller)
Closing: 6/17/2024
Deed recorded:6/18/2024
Contract Showing on Membership (new member):7/5/2024
Points in account: Points still not showing. Ugh. I'm going to chat today and see if they will add. Edit to add I did the chat and they added my points. All done finally!

Days Total: 95

 

[CourtneyAshley]

I emailed to get a general time frame on the resale contract and this was the answer I received. Hoping it wont take 4 weeks lol and REALLY hope it isn't 7-10 days for points. If so I'm not looking at having points until the beginning of August. I was really hoping to have my points for 7 month availability in February sometime but I might have to push that hope back to March.



Thank you for your email.



We received your transfer documents from the Title Company on june 27, 2024. The turnaround time for the transfer queue is approximately 3-4 weeks from the date that we receive the transfer documents.



Once we have completed the transfer, the system will generate two emails. One will include your personalized activation code for the Member Website. The other will include your Club ID Number. Both identifiers will be needed to access the website where you can begin planning your next vacation.



Please note that once we have completed the transfer in our system, our Member Services department will handle the process of transferring the points into your account. This part of the process typically takes an additional 7-10 business days.



We appreciate your patience as we are working through each request in the order they are received.



Kind regards,

Member Administration

 

[CourtneyAshley]

Home Resort: PVB
Broker: https://www.dvcresalemarket.com/
Title Company: Magic Vacation Title
Offer made: 04/04/2024
Offer accepted:04/04/24
Sent to ROFR: 04/06/24
Passed ROFR: 04/26/24
Closing docs received: 05/01/24
Closing docs returned: 05/03/24 (Buyer); 6/14/2024 (seller)
Closing: 6/17/2024
Deed recorded:6/18/2024
Contract Showing on Membership (new member):7/5/2024
Points in account: Points still not showing. Ugh. I'm going to chat today and see if they will add.

Days Total: 95 so far

This gives me a bit of hope. Mine was recorded 8 days after yours (disney says that they got it the following day so 9 days) so maybe only looking at about 1 more week.

 

[teetee830]

This gives me a bit of hope. Mine was recorded 8 days after yours (disney says that they got it the following day so 9 days) so maybe only looking at about 1 more week.

I did the chat and she added my points. Now I just wish there was better availability for our one night I want for after our October cruise.

 

[CourtneyAshley]

I did the chat and she added my points. Now I just wish there was better availability for our one night I want for after our October cruise.

Nice, I did not know that chat was an option. I only knew about email and call

 

[Moneypenny]

UPDATE

Home Resort: SSR
Broker: https://www.dvcstore.com/
Title Company: DVC Title and Escrow
Offer made: 05/24/2024
Offer accepted: 05/28/2024
Sent to ROFR: 05/31/2024
Passed ROFR: 06/19/2024
Closing docs received: 06/21/2024
Closing docs returned (buyer): 06/23/2024
Closing docs returned (seller): sometime the week of 06/24/2024
Funds wired: 06/25/2024
Closing: 07/05/2024
Deed recorded: 07/08/2024
Contract Showing on Membership (existing member):
Points in account:

Days Total: