Closing Time!

[hglenn]

Frirst-timers here. We passed ROFR a week ago and still waiting on closing docs. The pass email said to reach out if we don't get them in "a reasonable amount of time". Just curious... what is a reasonable amount of time? When would you start calling? Closing with First American Title Company.

We passed 4/25 and are still waiting on closing docs. When we passed we were told by the end of the week (last week) and two days ago we were told “tomorrow” (yesterday). We aren’t necessarily in a hurry but I don’t love it when people say one thing and then don’t do it…. It’s unprofessional. But I’ll roll with it for a few more weeks. Our closing date in our contract is 5/31.

 

[MalorieA]

Generally speaking, do buyers typically wait until the seller has signed the contract before wiring the funds? Or does it not really matter? When we saw the instructions and it said to wire the money my husband and I looked at each other like but saw that we could do it through Chase app.

 

[mkramer1121]

Generally speaking, do buyers typically wait until the seller has signed the contract before wiring the funds? Or does it not really matter? When we saw the instructions and it said to wire the money my husband and I looked at each other like but saw that we could do it through Chase app.

I waited until the seller provided the tracking number for their closing documents to my broker before I sent the funds. I also didn't have free wire transfers from my bank, and didn't want to deal with the hassle of getting my money back if something fell through.

 

[Friendlyadvice2]

We passed 4/25 and are still waiting on closing docs. When we passed we were told by the end of the week (last week) and two days ago we were told “tomorrow” (yesterday). We aren’t necessarily in a hurry but I don’t love it when people say one thing and then don’t do it…. It’s unprofessional. But I’ll roll with it for a few more weeks. Our closing date in our contract is 5/31.

Just for reference, we got our closing docs on 4/22 (2 weeks after passing ROFR) and we had them in the Fedex drop within an hour. We have not closed yet.

 

[Redheadprincess]

Generally speaking, do buyers typically wait until the seller has signed the contract before wiring the funds? Or does it not really matter? When we saw the instructions and it said to wire the money my husband and I looked at each other like but saw that we could do it through Chase app.

We wired it once the sellers completed their closing documents. We found out late morning and Mason Title had the money the next morning and closed that afternoon.

 

[Dee77]

Just wanted to post info I got today from my broker regarding my closing via Disney.

They are behind because they only have one CM who works on the closing documents for contracts taken in ROFR and has been off for personal reasons.

The broker also does not receive updates either so we just wait it out. I got the sense that I may not close in time either.

Thank you for posting this information. Disney decided to exercise their ROFR for our contract we are selling, this was back on March 17th, our closing was supposed to be today but we have not heard anything from Disney.

 

[MinBz]

Update on 4/15/2022 post -

Home Resort: Beach Club Villas
Broker: https://www.dvcresalemarket.com/
Title Company: Magic Vacation Title
Offer made: 9/22/21
Offer accepted: 9/22/21
Sent to ROFR: 9/23/21
Passed ROFR: 10/12/21
Estoppel Issued: 10/12/21
Closing docs received: 2/1/22 (delayed closing date of “not before 3/28/22”)
Buyer Closing docs returned: 2/8/22
Seller closing docs returned: 4/1/22
Closing: 4/5/22
Deed recorded: 4/6/22
Contract Showing on Membership (member): 4/22/22
Points in account: 5/3/2022

 

[Polychrome]

Just for reference, we got our closing docs on 4/22 (2 weeks after passing ROFR) and we had them in the Fedex drop within an hour. We have not closed yet.

that is frustrating, I'm sure :/

 

[RamblinWreck]

I don't know how much relevance my data even has to this thread, since we bought knowing that we couldn't close until June.

But we went to ROFR on 3/21, passed ROFR on 4/21, got closing docs on 5/3, and are set to close on 6/5

 

[Ashlotte]

Home Resort: Aulani (subsidized)
Broker: DVC Store
Title Company: Hayes Title, LLC
Offer made: 3/11/22
Offer accepted: 3/12/22
Sent to ROFR: 3/21/22 (9 days... seller did not return contract until this date)
Passed ROFR: 4/13/22 (23 days)
Closing docs received: 5/4/22 (21 days)
Closing docs returned, buyer: 5/5/22 (mailed, received 5/10/22)
Closing:
Deed recorded:
Contract Showing on Membership (new member):
Points in account:

Days Total:

 

[Klinger13]

Generally speaking, do buyers typically wait until the seller has signed the contract before wiring the funds? Or does it not really matter? When we saw the instructions and it said to wire the money my husband and I looked at each other like but saw that we could do it through Chase app.

I wired mine right away. I figured if the sellers backed out, I’d just get it back eventually so there really wasn’t a risk for me to do so.

 

[Klinger13]

Home Resort: SSR
Broker: www.dvcresalemarket.com
Title Company: Magic Vacation Title
Offer made: 3/7/2022
Offer accepted: 3/7/2022
Sent to ROFR: 3/8/2022
Passed ROFR: 3/29/2022 (issued estoppel also)
Closing docs received: 4/13/2022
Closing docs returned: 4/15/2022 (Buyer)
Closing: 5/2/2022
Deed recorded: 5/5/2022
Contract Showing on Membership (new member):
Points in account:

Days Total:

 

[Tx3Mom]

Home Resort: Beach Club Villas
Broker: www.**********.com
Title Company: Mason
Offer made: 04/01/22
Offer accepted:04/01/22
Sent to ROFR:04/02/22
Passed ROFR:04/28/22
Closing docs received:04/28/22
Closing docs returned:05/03/22
Closing:05/05/22
Deed recorded:05/05/23
Contract Showing on Membership (new member):
Points in account:

Days Total:

 

[Ashlotte]

Home Resort: Beach Club Villas
Broker: www.**********.com
Title Company: Mason
Offer made: 04/01/22
Offer accepted:04/01/22
Sent to ROFR:04/02/22
Passed ROFR:04/28/22
Closing docs received:04/28/22
Closing docs returned:05/03/22
Closing:05/05/22
Deed recorded:05/05/23
Contract Showing on Membership (new member):
Points in account:

Days Total:

Wow! Your transaction is going fast! Lucky.

 

[LadybugsMum]

Generally speaking, do buyers typically wait until the seller has signed the contract before wiring the funds? Or does it not really matter? When we saw the instructions and it said to wire the money my husband and I looked at each other like but saw that we could do it through Chase app.

I wait until the documents have been received before I wire the money. I like to know that they're in hand and there are no issues first.

 

[christophles]

I wait until the documents have been received before I wire the money. I like to know that they're in hand and there are no issues first.

That is the smart thing to do. I got too excited and wired the money the next day. I reached out to the title company this week after not hearing anything back from the seller for a week. At least I got a response saying the seller apologized for the delay and should have their closing docs sent in early next week. I hope by this point next week that this will be closed. I'll post my timeline when this closes.

 

[dlam32]

Home Resort: Aulani
Broker: https://www.dvcresalemarket.com/
Title Company: First American Title Insurance Company
Offer made: 4/6/2022
Offer accepted: 4/6/2022
Sent to ROFR: 4/9/2022
Passed ROFR: 5/6/2022
Closing docs received: 6/1/2022
Closing docs returned buyer: 6/6/22 (Hawaii requires buyers to notarized document)
Closing docs returned seller: 6/10/22
Closing: 6/14/22
Deed recorded: 6/14/22
Contract Showing on Membership (new member number to existing Club ID): 6/27/22
Points in account: 6/29/22 (CM on chat could not help, called MS to have points added)

Total: 84 days, not too bad since I've read that Aulani contracts tend to take longer than Disney World contracts.

 

[pianomanzano]

Final Update! All this time I was waiting for an e-mail from DVC (existing member, new UY) and haven't had to log in to the DVC website. I logged in last night and saw the second membership, so no idea when the contract showed up on my account. Called member services this morning and got the points loaded!

Home Resort: VGF
Broker: https://www.dvcresalemarket.com
Title Company: Magic Vacation Title
Offer made: 3/6/22
Offer accepted: 3/6/22
Sent to ROFR: 3/7/22
Passed ROFR: 3/28/22
Closing docs received: 04/07/22
Closing docs returned: 04/07/22 (buyer)
Closing docs returned: 04/12/22 (seller)
Closing: 04/14/2022
Deed recorded: 04/17/2022
Contract Showing on Membership (existing member):
Points in account: 05/09/2022

 

[Hopfather28]

Final Update! All this time I was waiting for an e-mail from DVC (existing member, new UY) and haven't had to log in to the DVC website. I logged in last night and saw the second membership, so no idea when the contract showed up on my account. Called member services this morning and got the points loaded!

Home Resort: VGF
Broker: https://www.dvcresalemarket.com
Title Company: Magic Vacation Title
Offer made: 3/6/22
Offer accepted: 3/6/22
Sent to ROFR: 3/7/22
Passed ROFR: 3/28/22
Closing docs received: 04/07/22
Closing docs returned: 04/07/22 (buyer)
Closing docs returned: 04/12/22 (seller)
Closing: 04/14/2022
Deed recorded: 04/17/2022
Contract Showing on Membership (existing member):
Points in account: 05/09/2022

I'm interested to see how this plays out for me as an existing member as well. We closed on the 4/28 with deed recorded 4/29 and I have not heard a peep from Disney. I don't need any of the points and I am not looking to book something straight away but just anxious to know that all the paper work has been finished on their end and it's been added to my account. We are the same use year so I would think it should make it an even smoother addition to our dashboard.

 

[Hopfather28]

I'm interested to see how this plays out for me as an existing member as well. We closed on the 4/28 with deed recorded 4/29 and I have not heard a peep from Disney. I don't need any of the points and I am not looking to book something straight away but just anxious to know that all the paper work has been finished on their end and it's been added to my account. We are the same use year so I would think it should make it an even smoother addition to our dashboard.

Well I guess all I needed to do was wait a few hours. Got an email this evening that said welcome home.

Update

Home Resort: PVB
Broker: Fidelity
Title Company: Mason
Offer made: 3/18/22
Offer accepted: 3/18/22 (0 days)
Sent to ROFR: 3/21/22 ( 3 days)
Passed ROFR: 4/20/22 (30 days)
Closing docs received: 4/20/22 (0 days)
Closing docs returned by Buyer: 4/20/22
Closing docs returned by Seller: ?
Closing: 4/28/2022 (8 days)
Deed recorded: 4/29/2022 (1 day)
Contract Showing on Membership: 5/9/22 (10 days)
Points in account:

Days Total:52 and counting