Closing Time!

[JackosinDIS]

Here is a first for me and I need some help for the Disboards Vets.
My first AKV contract has passed ROFR, I sent back my buyers documents, but seller has not returned theirs.
The contract says 3/28 is the cutoff.
If I walk away due to seller not meeting the contract deadline, do I lose my deposit?

Double check exactly what your contract says in relation to delays, but normally you would get your deposit back if the seller fails to perform.

 

[Girlstar30]

Here is a first for me and I need some help for the Disboards Vets.
My first AKV contract has passed ROFR, I sent back my buyers documents, but seller has not returned theirs.
The contract says 3/28 is the cutoff.
If I walk away due to seller not meeting the contract deadline, do I lose my deposit?

If the closing date has come and they haven't signed you can walk away and get your deposit back. If you want this contract, email the title company right now and tell them that it is your full intention to walk away if this is not closed by 03/28. I did that and it closed.

 

[hhisc16]

Thank you for the info!
I may let the contract go if not closed.

 

[Girlstar30]

Thank you for the info!
I may let the contract go if not closed.

You're welcome

 

[TinkAgainU]

Home Resort: BWV (As the Seller)
Broker: https://dvcsales.com - Mark
Title Company: www.dvcclosings.com - Cammy
Offer made: 2/25/2025
Offer accepted: 2/26/2025 (1 day)
Sent to ROFR: 2/27/2025 (1 day)
Passed ROFR: 3/20/2025 (21 days)
Seller docs returned: E-Notary 3/18/26 (Pre-ROFR)
Buyer docs & wire: Date Unknown
Closing: 3/26/2025
Deed recorded: 3/26/2025 (Appeared on Recorders Site Same Day)

Total Days Offer To Closing - 29 Days
(Seller Side Only - Does Not Include Points Into Buyer's Account)

Recap/Comments on this transaction:
We had errors with paperwork but the Broker stepped up quickly, and politely, to correct them. A reminder to (1) research the Buyer/Seller yourself to check spellings/trusts/legal description etc. if they are just adding another contract (every buyer of my resales has been an existing DVC member, so I'm guessing it's pretty common); and (2) check Every.Single.Dang.Line. of the purchase agreement for errors. They are usually only 1-4 pages. // P.S. I'm not lecturing you because I'm smarter than somebody else, I'm sharing because these are idiot mistakes I've made, others can learn from

 

[TinkAgainU]

Thank you for the info!
I may let the contract go if not closed.

Please discuss with Escrow/Title before "you" cancel to see what the actual rules are - and READ what your contract and any escrow documents you've signed say, since there is NO industry standard. There may be some short extension legally allowed for reasonable cause, you don't want to be the one who cancels "early" if that's the case, since that might jeopardize part or all of your deposit's return.

I will say the Seller's documents have gotten far more complicated to get notarized, so that can slow things if there are multiple sellers to sign. If that's the problem, ask what the cost would be for them to e-sign and offer to pay that if you still really want the contract? If the problem is the Seller's owe more than it's worth (bought Direct, with a loan for example) or just no longer want to sell, that's different.

 

[macman123]

Home Resort: AUL
Broker: https://****************.com/
Title Company: unknown
Offer made: 01/03
Offer accepted: 01/04
Sent to ROFR: 01/04
Passed ROFR: 01/22
Closing docs received:
Closing docs returned (buyer):
Closing docs returned (seller):
Closing: 03/07
Deed recorded:
Contract Showing on Membership (existng member): 03/25
Points in account: 03/25 (via char)

 

[Girlstar30]

Online notary for Mason Title Company super fast, have our appointment today, I also love that I do not need to print out any papers except for one document, everything is signed electronically

 

[peder]

Home Resort: AUL
Broker: DVC Resale Market
Title Company: First American Title
Offer made: 12/28/2024
Offer accepted: 12/30/2024
Sent to ROFR: 01/02/2025
Passed ROFR: 01/21/2025
Closing docs received: 02/14/2025
Closing docs returned: 02/21/2025
Closing: 3/10/2025
Deed recorded: 3/10/2025
Contract Showing on Membership: 03/26/2025
Points in account: 03/27/2025

Days Total: 89 days

 

[peder]

And we have another contract that's running about 9 days behind that one despite starting at the same time

 

[LandFan]

Home Resort: AKV
Broker: DVC Resale Market - Rob Shapiro
Title Company: Magic Vacation Title - Jessie Lindholm (she was fantastic)
Offer made: 2/5
Offer accepted: 2/6
Sent to ROFR: 2/7
Passed ROFR: 3/3 (24 days)
Closing docs received: 3/4
Closing docs returned (buyer): 3/10
Closing docs returned (seller): 3/6
Closing: 03/10
Deed recorded: 03/12
Contract Showing on Membership (existng member): still waiting
Points in account: still waiting

 

[kmcco]

Home Resort: AKV
Broker: DVC Resale Market - Rob Shapiro
Title Company: Magic Vacation Title - Jessie Lindholm (she was fantastic)
Offer made: 2/5
Offer accepted: 2/6
Sent to ROFR: 2/7
Passed ROFR: 3/3 (24 days)
Closing docs received: 3/4
Closing docs returned (buyer): 3/10
Closing docs returned (seller): 3/6
Closing: 03/10
Deed recorded: 03/12
Contract Showing on Membership (existng member): still waiting
Points in account: still waiting

I just got so excited that you were going to say you had points in your account because we have the same timeline for closing and deed recording. Ughhh still waiting and it’s killing me slowly

 

[DJRUK]

Home Resort: Riviera Resort (RIV)
Broker: Fidelity Real Estate (fidelityrealestate.com)
Title Company: DVC Title & Escrow (dvcclosings.com)
Offer made: 02/06
Offer accepted: 02/07
Sent to ROFR: 02/10
Passed ROFR: 03/05
Closing docs received: 03/05
Closing docs returned: 03/05
Closing: 03/10
Deed recorded: 03/10
Contract Showing on Membership (new member):
Points in account:

Days Total: 32 days (so far)

Update:

Contract Showing on Membership (new member): 03/26
Points in account: 03/26

Days Total: 48 days

 

[VGCgroupie]

Just updating this from March 7th.

Home Resort: Hilton Head (as buyer)
Broker: DVC Resale Market
Title Company: Mason Title
Offer made: 1/26/25
Offer accepted: 1/27/25
Sent to ROFR: 1/31/25
Passed ROFR: 2/24/25
Closing docs received: 2/25/25
Closing docs returned: 2/28/25
Closing: 3/6/25
Deed recorded: 3/7/2025
Contract Showing on Membership (new member): March 24
Points in account: should be 280 Still waiting

58 days and counting since we made our offer. Definitely not a quick process. We really look forward to having this contract as we bought it primarily for the 11 month booking window for my happy place that's getting harder and harder to book via cash. I'm just surprised to see so many people owning so many contracts or talking about add-on-itis. The buying process has been on the tedious side (and nothing has even gone wrong!) But maybe I'll feel differently once those points actually show up!

58 days is actually a really really good timeframe tbh.

 

[VGCgroupie]

Thank you for the info!
I may let the contract go if not closed.

something to think about since they will also have to sign closing documents they could take their time on those too.

 

[ilovebassets]

58 days is actually a really really good timeframe tbh.

That just seems crazy to me. Like I can buy an actual house which needs physically inspecting in half that time.

But glad to hear it was relatively fast for us I suppose.

 

[VGCgroupie]

That just seems crazy to me. Like I can buy an actual house which needs physically inspecting in half that time.

But glad to hear it was relatively fast for us I suppose.

Yeah it's rather ridiculous. I have done this 5 times. My first was around 55ish days, I thought that was long, each once has taken considerably longer each time. The process is ridiculous.

I also just sold home a home, went to market and closed far quicker than my DVC resale purchases.

 

[TinkAgainU]

Oddly the point totals are right but as loaded the 2024 points show as borrowed from 2025, and the 2025 points show as banked from 2024. There were banked 2023 points that show as expected. Wouldn't be a problem if we hadn't planned on banking most of the 2024 points.

Both the Broker and Escrow “should” have requested full screenshots of each year, and most ask for a copy of the Activity history from the Seller. Banked and Borrowed points should have been disclosed. Call DVC first to confirm They entered them properly in your account.

 

[Girlstar30]

I just want to sing my praises about how AWESOME free mobile notary services are with Mason. Everything is through docusign on a zoom type phone call and was done the next day after receiving closing docs.

No printing out papers, no wet signatures needed, no mailing anything thru fedex unless you're financing and if you are its only one document that just needs a signature and no Notarization and was received the next day. The Notarization literally took 5 minutes no joke. Would use again if the rest goes well for this service alone and the lower price. Thanks fellow disboarders for the recommendation!

 

[LandFan]

I just got so excited that you were going to say you had points in your account because we have the same timeline for closing and deed recording. Ughhh still waiting and it’s killing me slowly

Yup, lol. Same here!