Closing Time!

[StacyLovesDisney]

Home Resort: PVB
Broker:DVC Resale Market
Title Company: Magic Vacation Title
Offer made: 01/10/2022
Offer accepted: 01/10/2022
Sent to ROFR: 01/12/2022
Passed ROFR: 02/01/2022
Closing docs received:3/1/2022
Closing docs returned:3/4/2022
Closing:
Deed recorded:
Contract Showing on Membership (existing member):
Points in account:

*emailed broker yesterday after no communication from Title Company even after calling and leaving a message. According to broker, Disney waived several contracts on the same day and title company is backed up. To be continued...

still no info on closing. I must say my first and only other resale transaction with a different broker and title company went much smoother and so quick. this contract was from an international seller and I believe there are multiple people on the current deed making things take longer. if I had to do this one over I would not have gone through with this transaction. Closing date listed on the papers says March 29, 2022. I can't even remember if there are points on this one that need to be banked by the end of this month. just a little disappointed with the service from the broker and title company on this one. not much communication back when I reach out. ah, well, lesson learned for me on this one.

 

[Emily921]

Home Resort: OKW
Broker: https://dvcstore.com/
Title Company: Mason Title
Offer made: 2/8/22
Offer accepted: 2/8/22
Sent to ROFR: 2/10/22
Passed ROFR: 3/7/22
Closing docs received: 3/14/22
Closing docs returned: 3/1522
Closing: 3/21/22
Deed recorded:
Contract Showing on Membership:
Points in account:

Days Total:

 

[snowy82]

Finally sent in our closing docs! We're still waiting on the sellers. What's maddening (and coincidental) is that they live 50 minutes away (same state!) so I want to knock on their door and remind them to get their paperwork notarized


Closing Update:
Home Resort: OKW
Broker: DVC Resale Market
Title Company: Magic Vacation Title
Offer made: 2/17
Offer accepted: 2/18
Sent to ROFR: 2/21
Passed ROFR: 3/15 (23 days)
Estoppel Issued: 3/15
Closing docs received: 3/16 (1 day)
Closing docs returned: 3/21
Closing:
Deed recorded:
Contract Showing on Membership (new member):
Points in account:

Days Total:

 

[potlicker81]

Home Resort: Animal kingdom lodge
Broker: dvcresalemarket.com
Title Company: magic vacation title
Offer made: 02/02/22
Offer accepted: 02/03/22
Sent to ROFR: 02/04/22
Passed ROFR: 02/28/22
Closing docs received: 03/09/22
Closing docs returned: buyer 03/10/22, seller 03/16/22
Closing: 03/18/22
Deed recorded: 03/21/22
Contract Showing on Membership (current member): 04/06/22
Points in account:

UPDATE:
Well it's on my account and now I am waiting on the points being loaded

 

[keirabella2012]

still no info on closing. I must say my first and only other resale transaction with a different broker and title company went much smoother and so quick. this contract was from an international seller and I believe there are multiple people on the current deed making things take longer. if I had to do this one over I would not have gone through with this transaction. Closing date listed on the papers says March 29, 2022. I can't even remember if there are points on this one that need to be banked by the end of this month. just a little disappointed with the service from the broker and title company on this one. not much communication back when I reach out. ah, well, lesson learned for me on this one.

Sounds exactly like what I'm going through. International seller. POOR communication from the broker. This is my 4th contract, but first with this broker. Awful.

 

[Lorana]

UPDATE: And points have appeared today! At last this is done!

Home Resort: Animal Kingdom Lodge (AKV)
Broker: www.dvcstore.com
Title Company: Mason Title
Offer made: 12/15/2021
Offer accepted: 12/17/2021 (2 days)
Sent to ROFR: 12/26/2021 (9 days)
Passed ROFR: 1/13/2022 (18 days)
Estoppel Received: ?
Closing docs received: 2/3/2022 (21 days)
Closing docs returned: 2/4/2022 (1 day)
Seller returned closing docs: 2/24/2022 (21 days)
Closing: 2/28/2022
Deed recorded: 3/1/2022 (1 day)
Contract Showing on Membership: 03/16/2022 (16 days)
Points in account: 03/21/2022 (5 days)

Days Total: 96 days
offer made to ROFR passing: 29 days
ROFR passing to closing: 46 days
closing to points in account: 21 days

 

[clarker99]

Home Resort: Boulder Ridge Villa (BRV)
Broker: www.dvcstore.com
Title Company: Mason Title
Offer made: 02/15/2022
Offer accepted: 02/15/2022 (0 days)
Sent to ROFR: 02/16/2022 (1 days)
Passed ROFR: 03/11/2022 (23 days)
Estoppel Received: 03/11/2022 (0 days)
Closing docs received: 03/16/2022 (5 days)
Closing docs returned: 03/21/2022 (5 days)
Seller returned closing docs: 03/18/2022 (2 days)
Closing: 03/22/2022 (1 days)
Deed recorded:
Contract Showing on Membership:
Points in account:

We are in the final stages now. Closing docs and payment are in. 36 days and counting...

 

[HappyThoughtsTees]

Yes, both resale and direct, and cash. I am in SoCal and walked into to our local UPS Store that offer notary services without making an appointment.

Just an fyi, our broker inquired with the title agent at Hayes and said we will not need to get our closing documents notarized if paying cash. We just passed ROFR today, so I guess we'll see when the closing docs arrive. How is your AUL transaction w/Hayes going? I had a question for them and tried calling and emailing a few times, no response to any. Not a great way to start a professional relationship.

 

[DVChris]

How is your AUL transaction w/Hayes going? I had a question for them and tried calling and emailing a few times, no response to any. Not a great way to start a professional relationship.

Our broker recommended Hayes and said they've had problems before with First Am so I agreed to give Hayes a try. My contract has a delayed close so not much movement lately. Sorry to hear your experience has not been great. I would reach out to your broker and let them know, hopefully they can help.

 

[pixiedustyyc]

I have a question for those of you who have purchased loaded contracts. Our contract came with a clause that stated the following for us we are expecting the 2021 points to be fulling banked for our Aug use year contract. In the clause it states the following:

"IF THERE ARE LESS POINTS THAN WHAT IS STATED IN THIS CLAUSE AT TIME OF TRANSFER, THERE WILL BE AN $20 PER POINT COMPENSATION FROM SELLER TO BUYER OR BUYER MAY CANCEL THE CONTRACT. "

In the closing docs we just received, I'm not seeing how or when the clause would get enforced as it doesn't seem the escrow service waits for the buyers to confirm the number of points received prior to releasing funds to the seller nor if it is that late indicate how the cancelling the contract would happen.

I'm curious how this gets handled. Is there any sage wisdom from the DISboards to share?

Thank you all so much

 

[808blessing]

Waived: Feb 24
Excruciating and impatient wait: Mar 23
It will be over soon.

 

[808blessing]

I'm not seeing how or when the clause would get enforced as it doesn't seem the escrow service waits for the buyers to confirm the number of points received prior to releasing funds to the seller nor if it is that late indicate how the cancelling the contract would happen.

I'm curious how this gets handled. Is there any sage wisdom from the DISboards to share?

Thank you all so much
[/QUOTE]

I didn't have evidence either and I just went on faith and worry. But I do know for my last contract, the final thing done (by title or maybe it was broker) was after the previous owner returned closing docs, they had to send in a screenshot of points. I didn't ask for it. They happened to tell me because i was bugging them for closing and that was the last piece they were waiting on. Pretty sure it was title. I didn't ask for screenshot neither did they offer. Also who is to say when that screenshot was actually taken. so .

 

[minorthr]

Closed and deed recorded, one step closer

Home Resort: Boardwalk
Broker: www.dvcbyresale.com
Title Company: mason
Offer made: 1/31/22
Offer accepted: 1/31/22
Sent to ROFR: 2/1/22
Passed ROFR: 3/10/22
Closing docs received: 3/11/22
Closing docs returned: 3/11/22
Closing: 3/23/22
Deed recorded:3/24/22
Contract Showing on Membership:
Points in account:

Days Total:

 

[John Gry]

Update #3 closing



Home Resort: Cooper Creek Villas II

Broker: https://www.fidelityrealestate.com
Title Company: First American Title
Offer made: 2/02/2022
Offer accepted: 2/02/2022 ( 0 days)
Sent to ROFR: 2/07/2022 (5 days)
Passed ROFR: 2/28/2022 (21 days)
Closing docs received: 3/10/2022 (10 days)
Closing docs returned: 3/11/2022 ( 1 day)
Closing: 03/23/2022 (12 days)
Deed recorded:
Contract Showing on Membership:
Points in account:

Finally, seems like every stage takes that much agonizingly longer! The finish line is in sight!

 

[Sandisw]

I have a question for those of you who have purchased loaded contracts. Our contract came with a clause that stated the following for us we are expecting the 2021 points to be fulling banked for our Aug use year contract. In the clause it states the following:

"IF THERE ARE LESS POINTS THAN WHAT IS STATED IN THIS CLAUSE AT TIME OF TRANSFER, THERE WILL BE AN $20 PER POINT COMPENSATION FROM SELLER TO BUYER OR BUYER MAY CANCEL THE CONTRACT. "

In the closing docs we just received, I'm not seeing how or when the clause would get enforced as it doesn't seem the escrow service waits for the buyers to confirm the number of points received prior to releasing funds to the seller nor if it is that late indicate how the cancelling the contract would happen.

I'm curious how this gets handled. Is there any sage wisdom from the DISboards to share?

Thank you all so much

Some companies do not release the funds to the seller until it is verified. That happened when I bought in 2020 and the sellers didn’t get paid for 5 weeks because it took a long time for Disney to transfer the contract.

 

[KVacc]

UPDATE #2:

Home Resort: CCV
Broker: www.dvcresalemarket.com
Title Company: Magic Vacation Title
Offer made: 12/10/21
Offer accepted: 12/10/21 (0 days)
Sent to ROFR: 12/20/21 (10 days)
Passed ROFR: 1/25/22 (36 days)
Closing docs received: 2/1/2022 (7 days)
Closing docs returned: 2/5/2022 (4 days)
Seller closing docs returned: 3/1/2022 (28 days)
Closing: 3/2/2022 (1 day)
Deed recorded: 3/7/2022 (5 days)
Contract Showing on Membership (new member): 3/23/2022 (16 days)
Points in account:

Days Total:

Almost there!

 

[JC1984]

Update:
Home Resort: AUL
Broker: DVC Resale Market
Title Company: First American
Offer made: 2/7
Offer accepted: 2/17
Sent to ROFR: 2/21
Passed ROFR: 3/15
Estoppel Issued: 3/15
Closing docs received: 3/23
Closing docs returned:
Closing:
Deed recorded:
Contract Showing on Membership (adding on points):
Points in account:

Days Total:

 

[StacyLovesDisney]

Home Resort: PVB
Broker:DVC Resale Market
Title Company: Magic Vacation Title
Offer made: 01/10/2022
Offer accepted: 01/10/2022
Sent to ROFR: 01/12/2022
Passed ROFR: 02/01/2022
Closing docs received:3/1/2022
Closing docs returned:3/4/2022
Closing:3/24/2022
Deed recorded:
Contract Showing on Membership (existing member):
Points in account:

 

[snowy82]

UPDATE #2:

Home Resort: CCV
Broker: www.dvcresalemarket.com
Title Company: Magic Vacation Title
Offer made: 12/10/21
Offer accepted: 12/10/21 (0 days)
Sent to ROFR: 12/20/21 (10 days)
Passed ROFR: 1/25/22 (36 days)
Closing docs received: 2/1/2022 (7 days)
Closing docs returned: 2/5/2022 (4 days)
Seller closing docs returned: 3/1/2022 (28 days)
Closing: 3/2/2022 (1 day)
Deed recorded: 3/7/2022 (5 days)
Contract Showing on Membership (new member): 3/23/2022 (16 days)
Points in account:

Days Total:

Almost there!

i'm using the same broker so i'm interested in your timeline. we received our closing docs on 3/16 and while we've sent in our portion, we're still waiting on the seller. do you know why your sellers took nearly a month? it feels so frustrating!! but at least your contract is showing up sooner than your ROFR and seller closing docs!!

 

[KVacc]

i'm using the same broker so i'm interested in your timeline. we received our closing docs on 3/16 and while we've sent in our portion, we're still waiting on the seller. do you know why your sellers took nearly a month? it feels so frustrating!! but at least your contract is showing up sooner than your ROFR and seller closing docs!!

They said our sellers had something happen to their computer, had to get a new one, and they didnt have their password saved in order to get the updated point statement, so then they had to get a hold of Member Services 2 days before the closing deadline, so it took a while! Hopefully your sellers wont have an issue like that, lol