Closing Time!

[clarker99]

Home Resort: BLT
Broker: www.dvcresalemarket.com
Title Company: Magic Vacation Title
Offer made: 2/8/2022
Offer accepted: 2/8/2022
Sent to ROFR: 2/13/2022
Passed ROFR: 03/09/2022 (issued estoppel also)
Closing docs received: 3/9/2022
Closing docs returned: 3/10/2022 (Buyer)
Closing: 4/13/2022
Deed recorded: 4/14/2022
Contract Showing on Membership (existing member):
Points in account:

106 days and counting.

I've called twice, chatted once, and emailed three times. The latest feedback from Members Admin was last week when they mentioned that they had received the contract transfer and once the accounting team "clears" it, they will be able to complete the transfer of ownership.

Do the DVC resale and Magic Vacation title not verify the information before closing? It's now been SIX weeks since the closing and it's still with the accounting team?

Completely unacceptable

 

[DisWeaver]

I honestly think it is more on Disney Vacation Admin, or their accounting team. Magic Vacation Title responded that they sent the transfer info to DVC on 04/15 and that's when the ocommpt site shows the Deed was added.

So, it's been with DVC, or possibly their accounting team, for six weeks now. Every time I send Member Admin an email it takes 4-6 days before they respond and feedback from Member services is that MA is currently only available via email. No way to call and get an update and apparently they can take as long as they please.

 

[clarker99]

I honestly think it is more on Disney Vacation Admin, or their accounting team. Magic Vacation Title responded that they sent the transfer info to DVC on 04/15 and that's when the ocommpt site shows the Deed was added.

So, it's been with DVC, or possibly their accounting team, for six weeks now. Every time I send Member Admin an email it takes 4-6 days before they respond and feedback from Member services is that MA is currently only available via email. No way to call and get an update and apparently they can take as long as they please.

I am just bitter (maybe even wrongly). Lol

 

[wnielsen1]

I am considering backing out of my deal if it will be 100+ days. Dvcresale seems to be the only broker with massive delays right now. And you even got your closing docs the day of waiver. Yikes.

You cannot back out of a deal that has already closed. This issue here is after closing. Somebody is dropping the ball somewhere.

 

[wnielsen1]

Home Resort: BLT
Broker: www.dvcresalemarket.com
Title Company: Magic Vacation Title
Offer made: 2/8/2022
Offer accepted: 2/8/2022
Sent to ROFR: 2/13/2022
Passed ROFR: 03/09/2022 (issued estoppel also)
Closing docs received: 3/9/2022
Closing docs returned: 3/10/2022 (Buyer)
Closing: 4/13/2022
Deed recorded: 4/14/2022
Contract Showing on Membership (existing member):
Points in account:

106 days and counting.

I've called twice, chatted once, and emailed three times. The latest feedback from Members Admin was last week when they mentioned that they had received the contract transfer and once the accounting team "clears" it, they will be able to complete the transfer of ownership.

Do the DVC resale and Magic Vacation title not verify the information before closing? It's now been SIX weeks since the closing and it's still with the accounting team?

If the issue is in accounting, contact Member Accounting.

 

[DisWeaver]

If the issue is in accounting, contact Member Accounting.

I can’t seem to find a number for member accounting.

 

[Sandisw]

I can’t seem to find a number for member accounting.

Call MS and it will give you it as an option.

 

[mejones1115]

Home Resort: AKV
Broker: DVC Resale Market
Title Company: Magic Vacation Title
Offer made: 04/27/2022
Offer accepted: 04/28/2022
Sent to ROFR: 04/29/2022
Passed ROFR: 05/25/2022
Closing docs received:
Closing docs returned:
Closing:
Deed recorded:
Contract Showing on Membership (new member):
Points in account:

Days Total:


Our 2nd contract finally passed. I'll update as we go along. But I did email with Magic Vacation Title today and they said they are 21 business days out due to staffing issues for closing docs. And we still haven't recieved our open escrow paperwork which I thought was just because our last contract had been taken nand they were just forwarding the information to this new one. So we're waiting on that too. Really crossing everything that things move quicker so we can get things booked for our once in a lifetime trip brining both sets of grandparents to the most magical place on earth

 

[hobbes42]

I asked this before but didn't get any responses - the title company is telling me they sent my title to the comptrollers office on 5/19 but my deed still is not recorded. It seems that almost every post I've seen indicates deeds get posted the next business day. Anyone have similar experience where it took several days to post on the site?

Did you find out why it took so long for your deed to be recorded? I seem to be headed down the same road on a recently closed contract.

 

[hglenn]

Did you find out why it took so long for your deed to be recorded? I seem to be headed down the same road on a recently closed contract.

No... it finally showed up on the 24th... which is like 3 business days after it was sent...?

 

[DisWeaver]

Home Resort: BLT
Broker: www.dvcresalemarket.com
Title Company: Magic Vacation Title
Offer made: 2/8/2022
Offer accepted: 2/8/2022
Sent to ROFR: 2/13/2022
Passed ROFR: 03/09/2022 (issued estoppel also)
Closing docs received: 3/9/2022
Closing docs returned: 3/10/2022 (Buyer)
Closing: 4/13/2022
Deed recorded: 4/14/2022
Contract Showing on Membership (existing member): 05/27/2022
Points in account: 05/27/2022

108 days total ... I will think long and hard about another resale contract.

 

[hglenn]

Home Resort: BLT
Broker: www.dvcresalemarket.com
Title Company: Magic Vacation Title
Offer made: 2/8/2022
Offer accepted: 2/8/2022
Sent to ROFR: 2/13/2022
Passed ROFR: 03/09/2022 (issued estoppel also)
Closing docs received: 3/9/2022
Closing docs returned: 3/10/2022 (Buyer)
Closing: 4/13/2022
Deed recorded: 4/14/2022
Contract Showing on Membership (existing member): 05/27/2022
Points in account: 05/27/2022

108 days total ... I will think long and hard about another resale contract.

Did you ever find out why it took so long to show up on your account?

 

[RKS03]

Home Resort: BLT
Broker: www.dvcresalemarket.com
Title Company: Magic Vacation Title
Offer made: 2/8/2022
Offer accepted: 2/8/2022
Sent to ROFR: 2/13/2022
Passed ROFR: 03/09/2022 (issued estoppel also)
Closing docs received: 3/9/2022
Closing docs returned: 3/10/2022 (Buyer)
Closing: 4/13/2022
Deed recorded: 4/14/2022
Contract Showing on Membership (existing member): 05/27/2022
Points in account: 05/27/2022

108 days total ... I will think long and hard about another resale contract.

Why did closing take place so long after you sent in docs? Did seller take a while?

 

[DisWeaver]

Did you ever find out why it took so long to show up on your account?

Members Accounting dropped the ball.

 

[DisWeaver]

Why did closing take place so long after you sent in docs? Did seller take a while?

Correct, they didn't return them until April 12.

 

[hglenn]

Members Accounting dropped the ball.

So did you end up getting in touch with them to get it sorted out? Wonder why member services didn't suggest that earlier in the process for you?

 

[DisWeaver]

So did you end up getting in touch with them to get it sorted out? Wonder why member services didn't suggest that earlier in the process for you?

Yeah, I spoke with Members accounting and they reached out to the specific team/office that was working on that contract. There were no notes on it since March, so they must have completely dropped it. From my previous discussion with MS, it doesn't seem like they have much visibility before the contract is added to a specific membership. Seems to be pretty siloed between Accounting, Admin, and MS.

 

[dlam32]

Home Resort: BLT
Broker: www.dvcresalemarket.com
Title Company: Magic Vacation Title
Offer made: 2/8/2022
Offer accepted: 2/8/2022
Sent to ROFR: 2/13/2022
Passed ROFR: 03/09/2022 (issued estoppel also)
Closing docs received: 3/9/2022
Closing docs returned: 3/10/2022 (Buyer)
Closing: 4/13/2022
Deed recorded: 4/14/2022
Contract Showing on Membership (existing member):
Points in account:

106 days and counting.

I've called twice, chatted once, and emailed three times. The latest feedback from Members Admin was last week when they mentioned that they had received the contract transfer and once the accounting team "clears" it, they will be able to complete the transfer of ownership.

Do the DVC resale and Magic Vacation title not verify the information before closing? It's now been SIX weeks since the closing and it's still with the accounting team?

I am sorry you're going through this. What a nightmare! It's one of the resale scenarios that terrifies me the most. Someone messed up somewhere, wonder if there is any legal recourse.

 

[WDWkristin]

It seems like a lot of people got their closing documents right after ROFR but mine is supposed to take 3 weeks. Any idea why? Wouldn’t they use a faster company if there was such a big difference between the the speed of different companies?

 

[mejones1115]

It seems like a lot of people got their closing documents right after ROFR but mine is supposed to take 3 weeks. Any idea why? Wouldn’t they use a faster company if there was such a big difference between the the speed of different companies?

DVC resale market? If so I had been emailing with our closing agent and they have lost staff are trying to catch up so that's why they're 3 weeks. Last time they told us 2 weeks and we got them in a little over a week. So I'm hoping it'll be quicker. But who knows.