Closing Time!

[SusieQ93]

Points got loaded yesterday on our first resale add-on contract.
Home Resort: Villas at the Grand Californian
Broker: DVC Resale Market
Title: First American Title
Offer made: 8/3
Offer accepted: 8/3
Sent to ROFR: 8/4
Passed ROFR: 8/29
Closing docs received & returned: 9/4
Closed: 9/15
Contract loaded to DVC website (existing member): 10/4
Points loaded - didn’t call or anything, just waited: 10/12

I would definitely do resale again. I was pleasantly surprised how seamless it was. Yes, it requires more patience, but we didn’t need the points immediately.

 

[zachatak]

Home Resort: Copper Creek Villas
Broker: https://fidelityrealestate.com
Title Company: DVC Title and Escrow
Offer made: 08/01/24
Offer accepted: 08/01/24
Sent to ROFR: 08/02/24
Closing docs received:8/28/24
Closing docs returned: buyer 9/03/24, seller 09/03/24
Closing: 09/05/24
Deed recorded: 09/06/24
Contract showing (existing member): 09/26/24
Points in account:
Days so far: 57

Points in account on 09/30/24 and we didn’t even call or chat to get them added.

 

[N_kwi]

FINALLY!

Home Resort: PVB
Broker: https://www.dvcresalemarket.com/
Title Company: https://magicvacationtitle.com
Offer made: 7/14/2024
Offer accepted: 7/15/2024
Sent to ROFR: 7/19/2024
Passed ROFR: 9/5/2024
Closing docs received: 9/5/2024
Closing docs returned: 9/6/2024
Closing docs returned by seller: 9/16/2024
Closing: 9/18/2024
Deed recorded: 9/19/2024
Contract Showing on Membership (new member): 10/8/24
Points in account: 10/14/24

Days Total: 91

Now, do I call today to buy my blue card benefits Poly contract or wait it out?

 

[VGCgroupie]

Hot diggity dog! My Aulani is in my account but points are not loaded. I got no email so unsure when it got added. 91 days and counting...

 

[TinkAgainU]

Hot diggity dog! My Aulani is in my account but points are not loaded. I got no email so unsure when it got added. 91 days and counting...

You can almost feel that warm Hawaiian sand, right?! I also smiled at your 153 VGC, I have an oddball one like that too but it works fine just the same

 

[VGCgroupie]

You can almost feel that warm Hawaiian sand, right?! I also smiled at your 153 VGC, I have an oddball one like that too but it works fine just the same

Yes

Previous owners must have had a very specific plan for those VGC points.

 

[VGCgroupie]

Points loaded! 15 days for points to be loaded from closing date, much quicker than last time.
ROFR took 28 days.
92 days total.

So 49 days for international seller and title company to do their part

This resale process takes sooooooo long! But it’s all worth it in the end. Just booked 4 nights at Aulani next year. $7450 cash value or a $5587 cash value if I were to get a 25% discount next year.

I LOVE DVC!

 

[Flash_Sloth]

Didn't want to jinx anything by starting a post before passing ROFR.

Home Resort: VGC
Broker: https://www.dvcresalemarket.com
Title Company: https://www.firstam.com
Offer made: 9/19/24
Offer accepted: 9/19/24
Sent to ROFR: 9/25/24
Passed ROFR: 10/16/24
Closing docs received:
Closing docs returned:
Closing:
Deed recorded:
Contract Showing on Membership (existing member with different UY):
Points in account:

Days Total:

 

[VGCgroupie]

Didn't want to jinx anything by starting a post before passing ROFR.

Home Resort: VGC
Broker: https://www.dvcresalemarket.com
Title Company: https://www.firstam.com
Offer made: 9/19/24
Offer accepted: 9/19/24
Sent to ROFR: 9/25/24
Passed ROFR: 10/16/24
Closing docs received:
Closing docs returned:
Closing:
Deed recorded:
Contract Showing on Membership (existing member with different UY):
Points in account:

Days Total:

I was the same way with adding to my signature, I wouldn't add it until I had officially closed. Didnt wanna jinx it

 

[MommaKetch]

Seller Closing Timeline
Home Resort: BCV
Broker: www.DVCresalemarket.com
Title Company: www.magicvacationtitle.com
Offer made: 8/17
Offer accepted: 8/18
Sent to ROFR: 8/22
Passed ROFR: 9/19 - 29 days
Closing docs received: 9/20
Closing docs returned seller: 9/25 (me)
Closing docs returned buyer: TBD*
Closing:
Deed recorded:
Contract Showing on Membership (new member):
Points in account:

Days Total: 52 days and counting

* International buyer. Their notarization is scheduled for today.

Update on the contract I'm selling. The international buyers have not yet submitted their closing docs, and no word if they made that notarization appointment last week?!? It must close by Nov 2nd. When my agent reached out, they said the buyer was currently on a business trip, but was advised to have docs submitted by next Friday 10/25 so it would close on time.

Has anyone had a buyer get cold feet and cancel the deal? Are there any financial repercussions for them?

 

[VGCgroupie]

Update on the contract I'm selling. The international buyers have not yet submitted their closing docs, and no word if they made that notarization appointment last week?!? It must close by Nov 2nd. When my agent reached out, they said the buyer was currently on a business trip, but was advised to have docs submitted by next Friday 10/25 so it would close on time.

Has anyone had a buyer get cold feet and cancel the deal? Are there any financial repercussions for them?

My understanding is they can lose their deposit.

 

[Flash_Sloth]

Updated; fairly quick with closing docs. Glad we got this out of the way before our upcoming trip to WDW. The waiting game begins.

Home Resort: VGC
Broker: https://www.dvcresalemarket.com
Title Company: https://www.firstam.com
Offer made: 9/19/24
Offer accepted: 9/19/24
Sent to ROFR: 9/25/24
Passed ROFR: 10/16/24
Closing docs received: 10/18/24
Closing docs returned: 10/18/24 (buyer)
Closing:
Deed recorded:
Contract Showing on Membership (existing member with different UY):
Points in account:

Days Total:

 

[TinkAgainU]

Home Resort: AKV / Animal Kingdom
Broker: www.fidelityrealestate.com
Title Company: www.dvcclosings.com (Marcelo and Cammy)
Offer made: 8/29/2024
Offer accepted: 8/30
Sent to ROFR: 9/3
Passed ROFR: 9/30
Closing docs received: 10/1
Closing docs returned: Buyer:10/1 Seller:10/2 E-Notary
Funds wired: 10/2
Closing: 10/3
Deed recorded: 10/4 (Sent to DVD 10/4 or 10/7?)
Contract Showing on Membership (Existing): 10/20 - Not Sure When Added
Points in account: 10/21 - Called Member Services

FINAL Total: 53 Days

This was well within the 60 days I had in my mind when making the offer www.dvcclosings.com is not the cheapest, but they do have the E-Notary and seem to stay on timelines well.

 

[TinkAgainU]

Update on the contract I'm selling. The international buyers have not yet submitted their closing docs, and no word if they made that notarization appointment last week?!? It must close by Nov 2nd. When my agent reached out, they said the buyer was currently on a business trip, but was advised to have docs submitted by next Friday 10/25 so it would close on time.

Has anyone had a buyer get cold feet and cancel the deal? Are there any financial repercussions for them?

Typically, the Buyer would lose their deposit (when/whether escrow feels comfortable disbursing those funds is a different matter). Your purchase agreement "might" state how those Deposit funds would be allocated, some go entirely to the Broker, some don't state where they go... every Broker seems to have their own version of the contract. I was told escrow can grant a "reasonable" extension, so I'm not sure 11/2 is really the "must close" date. If Buyer does not pay their balance, that's a clue it's never going to close, they might be hoping to negotiate a return of their deposit? READ your contract before you agree to anything especially if there might be a negotiation involved (including one with you and the Broker about a future commission if they are keeping some of the funds). P.S. I'm no attorney, just have learned to read the contracts carefully and not assume the Broker is on "my side."

 

[MommaKetch]

@TinkAgainU that is very helpful, thank you! I re-read my contract and if the buyer defaults, we are to split the deposit minus the $150 for the escrow agent.

 

[TinkAgainU]

@TinkAgainU that is very helpful, thank you! I re-read my contract and if the buyer defaults, we are to split the deposit minus the $150 for the escrow agent.

You're welcome. Hopefully, they are just distracted and it'll still close soon. Fingers crossed for you!

 

[barrbarr25]

Home Resort: AUL
Broker: DVC Resale Market
Title Company: First American Title Insurance Company
Offer made: 7/29
Offer accepted: 7/29
Sent to ROFR: 7/31
Passed ROFR: 8/28
Closing docs received: 9/6
Closing docs returned: 9/9
Closing: 10/1
Deed recorded: 10/1
Contract Showing on Membership (new member):
Points in account:

Days Total:

 

[darkconz]

I just got my first email with the activation code today (yay), waiting for the second email with member ID. This is my first contract.. and once I have both emails and added the contract to my account, can I call the member services to load the points into the account? I remember reading from somewhere that there is something I need to wait before calling the member services...

 

[barrbarr25]

I just got my first email with the activation code today (yay), waiting for the second email with member ID. This is my first contract.. and once I have both emails and added the contract to my account, can I call the member services to load the points into the account? I remember reading from somewhere that there is something I need to wait before calling the member services...

Just curious.....when did your contract close & when was the deed recorded?

 

[darkconz]

Just curious.....when did your contract close & when was the deed recorded?

Closed: 10/8
Deed Record: 10/14
Activation Email (1/2): 10/21