Closing Time!

[Lucky Wall-E]

So we returned our closing docs last week. I emailed and asked to be notified when the sellers sign and then I'll wire the money after that. How long do I wait to hear back on them signing docs before I message for a status update? I'm not sure what a normal amount of time is for sellers to get their closing docs returned.

I contacted the title company after 7 days had passed to see get an update on the sellers signatures and that I was all set to make the transfer as soon as the seller go their docs in.
The title company responded the same day and 4 days later they contacted me to let me know the sellers doc were and I cold transfer the money.
I think it is fine to contact them every 7 days for an update until the sellers docs are in. After 2 attempts to the title company, I would contact your listing agent to see if they could contact the seller if the docs are not still in.
We all are busy and have things we are doing, so I feel 2 weeks is generally enough time for sellers to sign and make appointments with notaries. Occasionally there are extenuating circumstances for sellers, so the more you ask for updates, the more answers you will have.

 

[ClaraOswald]

Thanks. That's really helpful!

 

[disney-inspired]

*edit* Holding off on posting til ROFR closes.

 

[TinkAgainU]

I got my last Membership number 5 days after the Deed Recorded ... looks like we could be up to 13-14 days right now ... do they know how long that is in "DVC Days" (pretty sure the same calculation as Dog Years!) If anyone is having trouble signing on to their DVC account - WE are the problem, signing in 10x per day to check status lol. (Sorry.)

 

[ClaraOswald]

Update: I decided to drop an email to Cammy today and she just let me know that their closing docs were returned yesterday so we just need to get the funds wired over now. Woohoo!!

Home Resort: VGC
Broker: https://dvcsales.com/
Title Company: https://www.masontitle.com/ (Cammy Smith)
Offer made: 3/10
Offer accepted: 3/11
Sent to ROFR: 3/11
Passed ROFR: 3/20
Closing docs received: 3/22
Closing docs returned (buyer): 3/22
Closing docs returned (seller): 3/27
Closing:
Deed recorded:
Contract Showing on Membership (new member):
Points in account:

Days Total:

 

[ClaraOswald]

So...the email about wiring funds says to call an independently verified number to check on instructions. When I go to the Mason website...is there a certain location I'm supposed to call? Do I need to call a specific person over there? Not really sure what to do here.

(I'm also hoping that wiring the funds from my bank's website isn't too confusing!)

 

[LittleBitGoofy]

So...the email about wiring funds says to call an independently verified number to check on instructions. When I go to the Mason website...is there a certain location I'm supposed to call? Do I need to call a specific person over there? Not really sure what to do here.

(I'm also hoping that wiring the funds from my bank's website isn't too confusing!)

Just call the front desk # for Mason Title. Verify in 2+ places it's the right phone number. Then get them to verify the wiring instructions over the phone. This is all intended to help avoid an opportunity of cyber fraud with wire transfers being stolen because when that happens your money can go *poof* real quick. It's worthwhile to verify everything.

 

[ClaraOswald]

Just call the front desk # for Mason Title. Verify in 2+ places it's the right phone number. Then get them to verify the wiring instructions over the phone. This is all intended to help avoid an opportunity of cyber fraud with wire transfers being stolen because when that happens your money can go *poof* real quick. It's worthwhile to verify everything.

Yeah, I get why we need to do it. But still not sure which office to call. They seem to have many different locations and phone numbers.

 

[Lucky Wall-E]

Yeah, I get why we need to do it. But still not sure which office to call. They seem to have many different locations and phone numbers.

The information they emailed you should come with a receipt that shows charges and remaining balance and a letter signed by an escrow agent. At the top of both pages it will list the location with a phone number.
Match this info to the locations you have to choose from and verify the agents names as well.
Call the number and speak with who answers the phone.
Do this again at the bank if you are doing a wire transfer.

 

[E2ME2]

Yeah, I get why we need to do it. But still not sure which office to call. They seem to have many different locations and phone numbers.

Update: I decided to drop an email to Cammy today and she just let me know that their closing docs were returned yesterday so we just need to get the funds wired over now. Woohoo!!

Home Resort: VGC
Broker: https://dvcsales.com/
Title Company: https://www.masontitle.com/ (Cammy Smith)
Offer made: 3/10
Offer accepted: 3/11
Sent to ROFR: 3/11
Passed ROFR: 3/20
Closing docs received: 3/22
Closing docs returned (buyer): 3/22
Closing docs returned (seller): 3/27
Closing:
Deed recorded:
Contract Showing on Membership (new member):
Points in account:

Days Total:

Happy for you - & it only took 7 days from ROFR to have both sets of closing docs. returned. Awesome.
I hit one more speed bump with Mason, yesterday. They emailed me at 3:48 pm to inform me that they found a transaction error, and that I needed to provide additional funds in order to close. It stated the error was "discovered during a final audit" !!
Oy Vay - - I did not flip out, as everyone makes errors, especially me, but this should have been caught sooner. I mean, after all, I've been waiting since 2/28 for them to wrap things up. You would think they would have performed their quality audit earlier in the process.

& here's an interesting nugget: I was able to charge the discrepant amount on my CC.
I had asked earlier if I could make a larger D/P on my CC, and was given the standard answer of "there's a $2500 limit". So I'm okay with getting a few more CC points, but not happy with the last minute hurdle.

I ended yesterday afternoon with a confirmation that they would still close on 3/27, but they actually closed this morning - 3/28 (already checked the OCC site, and the deed was also recorded 3/28) So - I'm at Day 55, and just getting routed over to Disney. 33 of those days has been pushing this rock uphill with Mason.

I hope your process completes without any hurdles, as a first-time buyer, you don't want a bad experience

Home Resort: BWV
Broker: https://www.fidelityrealestate.com/
Title Company: https://www.masontitle.com/
Offer made: 2/1
Offer accepted: 2/3
Sent to ROFR: 2/10
Passed ROFR: 2/23
Closing docs received (buyer): 2/27/23
Closing docs returned (buyer): 2/28/23
Closing docs returned (seller): 3/20/23 (email error-Mason)
Closing: 3/28/23 (last minute audit - additional payment)
Deed recorded: 3/28/23
Contract Showing on Membership (existing member):
Points in account:
Total Days: (55 and counting.....)

 

[disney-inspired]

Happy for you - & it only took 7 days from ROFR to have both sets of closing docs. returned. Awesome.
I hit one more speed bump with Mason, yesterday. They emailed me at 3:48 pm to inform me that they found a transaction error, and that I needed to provide additional funds in order to close. It stated the error was "discovered during a final audit" !!
Oy Vay - - I did not flip out, as everyone makes errors, especially me, but this should have been caught sooner. I mean, after all, I've been waiting since 2/28 for them to wrap things up. You would think they would have performed their quality audit earlier in the process.

& here's an interesting nugget: I was able to charge the discrepant amount on my CC.
I had asked earlier if I could make a larger D/P on my CC, and was given the standard answer of "there's a $2500 limit". So I'm okay with getting a few more CC points, but not happy with the last minute hurdle.

I ended yesterday afternoon with a confirmation that they would still close on 3/27, but they actually closed this morning - 3/28 (already checked the OCC site, and the deed was also recorded 3/28) So - I'm at Day 55, and just getting routed over to Disney. 33 of those days has been pushing this rock uphill with Mason.

I hope your process completes without any hurdles, as a first-time buyer, you don't want a bad experience

Home Resort: BWV
Broker: https://www.fidelityrealestate.com/
Title Company: https://www.masontitle.com/
Offer made: 2/1
Offer accepted: 2/3
Sent to ROFR: 2/10
Passed ROFR: 2/23
Closing docs received (buyer): 2/27/23
Closing docs returned (buyer): 2/28/23
Closing docs returned (seller): 3/20/23 (email error-Mason)
Closing: 3/28/23 (last minute audit - additional payment)
Deed recorded: 3/28/23
Contract Showing on Membership (existing member):
Points in account:
Total Days: (55 and counting.....)

For future reference - can you ask for a different title company?
I'm already researching/planning for my next contract and I see Fidelity has lower asking rates but I wouldn't want to deal with Mason.

 

[E2ME2]

For future reference - can you ask for a different title company?
I'm already researching/planning for my next contract and I see Fidelity has lower asking rates but I wouldn't want to deal with Mason.

Funny you should ask -- for years I have been reading posts about how much better Mason https://www.masontitle.com/ is than the other company that Fidelity https://www.fidelityrealestate.com/ typically uses.
I think this just shows that there are a lot of moving pieces in acquiring a DVC-Resale, and anyone can make an error. I am not sworn-off of Mason because of this, but I will be even more diligent in my follow-up and progress checking on any and all future purchases, regardless of the company I go with.

Here's where you're all supposed to suggest that I take a break, and don't pursue any more add-ons for awhile........ crickets!?

 

[LittleBitGoofy]

Here's where you're all supposed to suggest that I take a break, and don't pursue any more add-ons for awhile........ crickets!?

Perhaps you should take a break, and don't... just kidding. I think another new listing was just added with your name on it...

 

[Denamac]

*FINAL UPDATE - Points received in less than 24 hours - I did not contact Disney. Points just appeared this afternoon!*

Home Resort: SSR
Broker: https://www.dvcresalemarket.com
Title Company: https://magicvacationtitle.com/
Offer made: 1/30/2023
Offer accepted: 1/31/2023
Sent to ROFR: 2/02/2023
Passed ROFR: 2/20/2023
Closing docs received: 3/03/2023
Closing docs returned: 3/08/2023 (Buyer)
Funds wired: 3/08/2023
Closing: 3/13/2023
Deed recorded: 3/14/2023
Contract Showing on Membership (new member): 3/27/2023
Points in account: 3/28/2023

57 days total…

 

[RuntheMouse]

Final Update:

Home Resort: Boulder Ridge
Broker: Fidelity
Title Company: First American
Offer made: 1/30
Offer accepted: 1/30
Sent to ROFR: 2/2
Passed ROFR:2/21
Closing docs received: 3/3
Closing docs returned: 3/3
Closing: ????
Deed recorded: 3/14
Contract Showing on Membership (existing member): 3/27
Points in account: 3/28

This one took forever! Glad it’s done, reservations are made!

 

[Bmramaut]

Happy for you - & it only took 7 days from ROFR to have both sets of closing docs. returned. Awesome.
I hit one more speed bump with Mason, yesterday. They emailed me at 3:48 pm to inform me that they found a transaction error, and that I needed to provide additional funds in order to close. It stated the error was "discovered during a final audit" !!
Oy Vay - - I did not flip out, as everyone makes errors, especially me, but this should have been caught sooner. I mean, after all, I've been waiting since 2/28 for them to wrap things up. You would think they would have performed their quality audit earlier in the process.

& here's an interesting nugget: I was able to charge the discrepant amount on my CC.
I had asked earlier if I could make a larger D/P on my CC, and was given the standard answer of "there's a $2500 limit". So I'm okay with getting a few more CC points, but not happy with the last minute hurdle.

I ended yesterday afternoon with a confirmation that they would still close on 3/27, but they actually closed this morning - 3/28 (already checked the OCC site, and the deed was also recorded 3/28) So - I'm at Day 55, and just getting routed over to Disney. 33 of those days has been pushing this rock uphill with Mason.

I hope your process completes without any hurdles, as a first-time buyer, you don't want a bad experience

Home Resort: BWV
Broker: https://www.fidelityrealestate.com/
Title Company: https://www.masontitle.com/
Offer made: 2/1
Offer accepted: 2/3
Sent to ROFR: 2/10
Passed ROFR: 2/23
Closing docs received (buyer): 2/27/23
Closing docs returned (buyer): 2/28/23
Closing docs returned (seller): 3/20/23 (email error-Mason)
Closing: 3/28/23 (last minute audit - additional payment)
Deed recorded: 3/28/23
Contract Showing on Membership (existing member):
Points in account:
Total Days: (55 and counting.....)

Your deed and closing happened same day?!

 

[E2ME2]

Your deed and closing happened same day?!

Yuup - Closed early in the morning, and was on the occ site that afternoon.

 

[jxc368]

Home Resort: Old Key West
Broker: Fidelity
Title Company: Mason Title
Offer made: 2/13/2023
Offer accepted: 2/13/2023
Sent to ROFR: 2/15/2023
Passed ROFR: 2/28/2023
Closing docs received: 2/28/2023
Closing docs returned: 2/28/2023 (buyer) seller ??
Closing: 3/14/2023
Deed recorded: 3/14/2023
Contract Showing on Membership (new member): 3/27/2023
Points in account: 3/28/2023

Days Total: 43

 

[DonMacGregor]

For future reference - can you ask for a different title company?
I'm already researching/planning for my next contract and I see Fidelity has lower asking rates but I wouldn't want to deal with Mason.

No Mason apologist, but over the last 3+ years, this is the very first issue I've ever read about Mason (beyond the ubiquitous bellyaching about every title company taking longer than the buyer would like), versus numerous issues with other title companies. Also, each of the issues on this particular transaction can quite easily be tied back to either the selling agent (Fidelity, of which there are reams of stories about complete screw ups), or the seller. Mason, by leaps and bounds (and Cammy Smith in particular) is the only company many many seasoned buyers here on the boards will use, with many paying more for the ability to go with her. The issues with this singular contract are most definitely the exception rather than the rule. Mason is by far the very best out there (ok, maybe I do sound like an apologist LOL).

I have used Mason on 7 of my 8 resale contracts and had zero issues. Great communication and lightning fast. I used another company on one contract (before I knew I could force the issue on which company we would use) and the level of service, communication, and expedience were all significant let downs.

Also, Fidelity actually doesn't use Mason as a rule. You normally have to request Mason when buying a Fidelity listed contract. I'd be far more wary of Fidelity than Mason, so much so that it wouldn't even be up for debate.

 

[disney-inspired]

No Mason apologist, but over the last 3+ years, this is the very first issue I've ever read about Mason (beyond the ubiquitous bellyaching about every title company taking longer than the buyer would like), versus numerous issues with other title companies. Also, each of the issues on this particular transaction can quite easily be tied back to either the selling agent (Fidelity, of which there are reams of stories about complete screw ups), or the seller. Mason, by leaps and bounds (and Cammy Smith in particular) is the only company many many seasoned buyers here on the boards will use, with many paying more for the ability to go with her. The issues with this singular contract are most definitely the exception rather than the rule. Mason is by far the very best out there (ok, maybe I do sound like an apologist LOL).

I have used Mason on 7 of my 8 resale contracts and had zero issues. Great communication and lightning fast. I used another company on one contract (before I knew I could force the issue on which company we would use) and the level of service, communication, and expedience were all significant let downs.

Also, Fidelity actually doesn't use Mason as a rule. You normally have to request Mason when buying a Fidelity listed contract. I'd be far more wary of Fidelity than Mason, so much so that it wouldn't even be up for debate.

This is good info to know - thanks for sharing.