Closing Time!

[SpotMonkey]

Mine wasn't even a great deal Super small contract and we still came ahead vs. purchasing direct, but not enough of a benefit to make this timeline worth it. Thought I was doing a good thing by helping out a buyer rather than letting Disney sell the same points twice. No good deed ...

 

[heather2328]

Our first resale contract took 62 days from initial offer (Feb. 2022) to points in my account. We're on Day 82 of our current contract and we just closed. Add in another 20-30 days for the contract to show up and points added to my account and we'll hit the 100-day mark. Any and all points going forward will be probably be direct sales, I can't stomach this again. The experience the first time around was pretty good. I'm sensitive to the issues happening behind the scenes, but this time was very, very off-putting.

I am on day 65 and waiting on closing, no idea if the sellers sent their docs yet, I agree this process has been very off-putting and I think I’ll go direct next time around too.

 

[GBC1]

For those who were able to get points loaded within the next day after engaging via chat, what was the timing?
Did it take the full 24 hrs. or was it quicker?

 

[clarker99]

I'm with you... I keep reminding myself of the great deal I got (BWV) but it's dreadful... especially when you are trying to actually replace a cash reservation with a DVC stay for an upcoming trip. And it seems nothing pushes it along... I also feel bad for the sellers who have to wait so long to get their money. I know that my seller won't get funds until I notify the broker and title company that I have received the points... I'm on day 82, also, but we're just waiting on our new member account notification.

Man, I am sure glad these boards exist just so you know that others are having similar experiences (good or bad). We are going to miss out on our booking window for our next trip due to the slowness of this process. Sure, we will bank and use next use year but kind downer when you thought you could use them before the 7-month window was up. And yeah the sellers are the ones who I feel the most for as they are the ones who have to pay a healthy commission for terribly slow process.

 

[prncssjas]

I am on day 65 and waiting on closing, no idea if the sellers sent their docs yet, I agree this process has been very off-putting and I think I’ll go direct next time around too.

I can appreciate why this is the downside to resale. I think as buyers, once we make up our minds that we want to purchase a contract, we want the points ASAP (for the most part...). Then once it passes ROFR, we start planning the vacations in our head (LOL, at least I did this?). So having to wait longer than ideal just brings the whole process down. I suppose depending on the "deal" we would decide whether or not it was worth. I just passed ROFR on a GF contract for $180 per point--not that great of deal and I am now wondering if direct would have been worth it (to have months to close this out).

I hope you get your points soon!!!

 

[heather2328]

I can appreciate why this is the downside to resale. I think as buyers, once we make up our minds that we want to purchase a contract, we want the points ASAP (for the most part...). Then once it passes ROFR, we start planning the vacations in our head (LOL, at least I did this?). So having to wait longer than ideal just brings the whole process down. I suppose depending on the "deal" we would decide whether or not it was worth. I just passed ROFR on a GF contract for $180 per point--not that great of deal and I am now wondering if direct would have been worth it (to have months to close this out).

I hope you get your points soon!!!

This is my first contract and I did get a really good deal, $120 at SSR, so the wait is worth it, I’m just salty because it took them 3 weeks to get me the closing documents lol. I will probably do resale again for a good deal but will just have different expectations. I also have a small trip with my kids coming up that I’ll probably have to do a cash stay unless I can get a last min reservation with my points. I hope you get your points soon too!

 

[Huskerpaul]

For those who were able to get points loaded within the next day after engaging via chat, what was the timing?
Was it close to 24 hrs. or sooner?

I got mine loaded via chat 23 hours after the time stamp of the two membership emails I got. I set up my account and the next day used chat. Took like all of 15 minutes for me to get the points added.

 

[MFMont]

Home Resort: Boardwalk
Broker: https://www.fidelityrealestate.com
Title Company: Mason
Offer made: 4/7/22
Offer accepted: 4/7/22
Sent to ROFR: 4/12/22
Passed ROFR: 5/4/22
Closing docs received: 5/4/22
Closing docs returned: 5/9/22 (buyer)
Closing: 5/12/22
Deed recorded: 6/3/22
Contract Showing on Membership (new member): 6/4/22
Points in account: 6/4/22, I called once I received email from DVC and they loaded my points in

 

[SpotMonkey]

Man, I am sure glad these boards exist just so you know that others are having similar experiences (good or bad). We are going to miss out on our booking window for our next trip due to the slowness of this process. Sure, we will bank and use next use year but kind downer when you thought you could use them before the 7-month window was up. And yeah the sellers are the ones who I feel the most for as they are the ones who have to pay a healthy commission for terribly slow process.

I'm so sorry you're going to miss your window. It's an advantage you're paying for that you're going to miss out on through no fault of your own. That's an extra frustration on top of everything else involved in the process. Maybe you'll get lucky and your rooms will still be available.

Our sellers didn't send in their documents until 4 days before the closing date on the contract. I'm frustrated with the title company because I don't feel like they managed the process at all (no communication unless I initiated it, and for such a drawn-out process that's not a good feeling), but there's also not a lot they can do when the seller sits on the documents for a few weeks. Maybe buyers aren't in as much of a rush to get their money as we are to get our points because there's no ticking clock for them? Whereas buyers are trying to plan their trips and sometimes a day or two can make a huge difference in availability.

 

[hglenn]

Home Resort: Boardwalk
Broker: https://www.fidelityrealestate.com
Title Company: Mason
Offer made: 4/7/22
Offer accepted: 4/7/22
Sent to ROFR: 4/12/22
Passed ROFR: 5/4/22
Closing docs received: 5/4/22
Closing docs returned: 5/9/22 (buyer)
Closing: 5/12/22
Deed recorded: 6/3/22
Contract Showing on Membership (new member): 6/4/22
Points in account: 6/4/22, I called once I received email from DVC and they loaded my points in

What? how did you get your membership set up so quickly? I'm jealous!

 

[pachelbel9]

For those who were able to get points loaded within the next day after engaging via chat, what was the timing?
Was it close to 24 hrs. or sooner?

I got an email around 9pm on 6/5 welcoming me (I'm an existing member). That's when I noticed the contract showing up (I'd checked earlier in the day and it wasn't there). Given the general consensus is to wait a full 24 hours, I did not reach out via chat until 1pm on 6/7. Points were loaded after a 10 minute wait.

 

[pachelbel9]

Home Resort: Vero Beach
Broker: https://www.dvcstore.com/
Title Company: Mason Title
Offer made: 04/08/2022
Offer accepted: 04/09/2022
Sent to ROFR: 4/10/2022
Passed ROFR: 05/03/2022
Closing docs received: 05/12/2022
Closing docs returned: 05/12/2022
Closing: 05/26/2022
Deed recorded: 05/26/2022
Contract Showing on Membership (existing member): 06/05/22
Points in account: 06/07/22 (loaded via chat request)

61 days total

Just in time to book a cottage next summer!

 

[Sandisw]

Closing

Resort. SSR
Broker www.DVCresale market.com
Contract sold March 8
Sent to ROfR March 10
Taken by Disney April 1st
Closing Documents May 20th

Taking to bank Monday for notary! Should have money next week!!! Yeah!!

Updating this….deed recorded 5/31…payment to me 6/7…

Contract still in my account…so it seems MA isn’t any faster transferring contracts between owners, even when they are the ones buying!

 

[DonMacGregor]

Updating this….deed recorded 5/31…payment to me 6/7…

Contract still in my account…so it seems MA isn’t any faster transferring contracts between owners, even when they are the ones buying!

It took Disney 7 weeks from ROFR to sending you the closing docs?

 

[Sandisw]

It took Disney 7 weeks from ROFR to sending you the closing docs?

It sure did! They were running way behind because of the one person assigned to this task was off on extended leave due to family emergency. So, even when they are part of the process, they don't seem to be in any rush. It worked out fine since I had them spread my VGF purchase over 90 days for this exact reason....but year, the closing documents came 1 day prior to the official closing date of the contract.

 

[GBC1]

For those who were able to get points loaded within the next day after engaging via chat, what was the timing?
Was it close to 24 hrs. or sooner?

Update: After my account was active yesterday (6/6) I chatted with Member Services. After about 30 minutes they said it was all set and points should be in my account within 24 hrs. and if not to call tomorrow (6/7). Checked throughout the day on 6/7 and points were not loaded even after 24 hrs. Called Member Services and selected Accounting. Wait time of about 5 minutes before I was connected then another 5 minutes the points were loaded by the person I was speaking to.

 

[hglenn]

Has anyone ever had any luck chatting with or calling to have your member account set up? I'm seeing several people who already have their points when their deeds posted after mine.

 

[KAS323]

Home Resort: BWV
Broker: https://www.dvcresalemarket.com
Title Company: Magic Vacation Title
Offer made: 3/22
Offer accepted: 3/22
Sent to ROFR: 3/29
Passed ROFR: 4/26
Closing docs received: 5/19
Closing docs returned: 5/20 (buyer), unsure seller
Closing: 5/26
Deed recorded: 5/31
Contract Showing on Membership: 6/7
Points in account: 6/8 (after call to member services

Days Total: 78 days

 

[Mexacajun]

Home Resort: BWV
Broker: https://www.dvcresalemarket.com
Title Company: Magic Vacation Title
Offer made: 3/22
Offer accepted: 3/22
Sent to ROFR: 3/29
Passed ROFR: 4/26
Closing docs received: 5/19
Closing docs returned: 5/20 (buyer), unsure seller
Closing: 5/26
Deed recorded: 5/31
Contract Showing on Membership: 6/7
Points in account: 6/8 (after call to member services

Days Total: 78 days

It took almost a month to get your closing documents after ROFR!! I am currently waiting on my closing from the same company and I am pacing back and forth waiting. It actually feels worse than the ROFR wait.

 

[KAS323]

It took almost a month to get your closing documents after ROFR!! I am currently waiting on my closing from the same company and I am pacing back and forth waiting. It actually feels worse than the ROFR wait.

I am so sorry you are waiting too, it seems to be only an issue with that broker/title company, which is kind of unacceptable when everyone else is getting them next day. I checked in during that process and was just told there is a delay due to “staffing concerns.” I get it that they try to keep everything internal, from what I’ve read, but also if you have a three week backlog and are keeping the customers who are paying the title company waiting, I feel like maybe reaching out to use someone else temporarily should at least be offered.
I knew that it could happen buying resale and there is not a guarantee with the timeline, but because of the extra 3 week delay we missed the opening of our 7 month window to make a reservation for January and also have 150 points that are going to expire before we can use them.

I hope you get your documents soon! I am sorry you are in the same boat. At least when we did finally get them it was a relatively quick turn around after that.