Closing Time!

[bookbabe626]

I had heard - but don't know for sure - that the sellers have to get themselves over to a US embassy for signing docs, that a regular notary won't do! I hope this is incorrect as it sounds nutty.

Nutty is an understatement. If I as a Canadian buyer didn’t even need a notary for any part of the process (no financing) and the whole transaction was dealt with by eSigned docs over email, then why would a seller not only need a notary but specifically one at a US embassy? That sounds really fishy to me.

I would be checking into it with a non-involved third party, if I was the buyer and that was what the broker was claiming.

 

[lilsonicfan]

Nutty is an understatement. If I as a Canadian buyer didn’t even need a notary for any part of the process (no financing) and the whole transaction was dealt with by eSigned docs over email, then why would a seller not only need a notary but specifically one at a US embassy? That sounds really fishy to me.

I would be checking into it with a non-involved third party, if I was the buyer and that was what the broker was claiming.

Sellers, at least for WDW contracts, always have to go to a notary, even American sellers. Buyers don't, but sellers are transferring a legal deed and therefore their identity needs to be verified.

I'm not certain about the US embassy part, but I do believe Canadian sellers/international sellers do have more hoops to jump through. Possibly having to obtain some sort of tax number. I haven't looked into it much as I don't plan to sell my contract ever (famous last words).

 

[varyth]

Have not sold a DVC contract, but I do have experience getting a signed document notarized in the US for an international transaction. I had to find a notary (UPS store), then drive the document to my state capital to request a certification from the Secretary of State (which authenticates said notary is a valid notary in my state), and then wait for the returned documents in the mail where it would finally be acceptable for international use, and then drive it to the embassy of the country doing the actual transaction. It was a whole ordeal. I wonder if it's a similar process for international sellers.

 

[bookbabe626]

Sellers, at least for WDW contracts, always have to go to a notary, even American sellers. Buyers don't, but sellers are transferring a legal deed and therefore their identity needs to be verified.

I'm not certain about the US embassy part, but I do believe Canadian sellers/international sellers do have more hoops to jump through. Possibly having to obtain some sort of tax number. I haven't looked into it much as I don't plan to sell my contract ever (famous last words).

Oh, I realize now a notary has to be involved, it’s the US Embassy part that I still find suspicious. We have stuff notarized by our lawyer all the time, and we’ve used a regular public notary a few times when he wasn’t available. Notaries aren’t that scarce, almost every large real estate office and most law firms have one on staff, usually one of the legal assistants or receptionists who has that as part of their job, plus all the notaries in their own offices and such.

We sold physical property in Florida to an American without anything special or different than using our lawyer in a regular notary role. We didn’t have to visit a US Embassy or do anything other than what we’d usually do when selling property.

I’ve reached out to the agent I was dealing with at Magic Title to see if there’s any situation where the embassy visit would be required. I’ll update with her answer when I get it.

 

[Willow1213]

I had heard - but don't know for sure - that the sellers have to get themselves over to a US embassy for signing docs, that a regular notary won't do! I hope this is incorrect as it sounds nutty.

I was actually able to speak with the Title agent today, and they have the docs back from the seller. I also did some google sleuthing and the seller's live 20 minutes from the US border LOL! We're set to close tomorrow, fingers crossed. Panicked for nothing.

 

[Ashlotte]

FINAL UPDATE:

Home Resort: Aulani
Broker: https://vacatia.com/find-timeshares-for-sale
Title Company: www.firstam.com
Offer made: 4/11/23
Offer accepted: 4/12/23
Sent to ROFR: 4/13/23
Passed ROFR: 5/1/23
Closing docs received: 5/18/23
Closing docs returned: 5/22/23
Closing: 6/2/23
Deed recorded: 6/2/23
Contract Showing on Membership: 6/12/23
Points in account: 6/13/23 (via chat)

Days Total: 63 days

 

[KalamityJane]

FINAL UPDATE:

Home Resort: Aulani
Broker: https://vacatia.com/find-timeshares-for-sale
Title Company: www.firstam.com
Offer made: 4/11/23
Offer accepted: 4/12/23
Sent to ROFR: 4/13/23
Passed ROFR: 5/1/23
Closing docs received: 5/18/23
Closing docs returned: 5/22/23
Closing: 6/2/23
Deed recorded: 6/2/23
Contract Showing on Membership: 6/12/23
Points in account: 6/13/23 (via chat)

Days Total: 63 days

I’ve been following yours because I’m in the same situation! Congrats!!!

 

[Ashlotte]

I’ve been following yours because I’m in the same situation! Congrats!!!

I know you are... you took over the top spot on the AUL leaderboard! (I am happy for you, but there was one day where your account was missing and mine was #1 briefly... THAT'S when I showed it to DH. Lol!)

Where are you in your process? I actually felt like it went faster than I expected once I had the closing documents.
Overall, I was very happy with the process. And we are going to Aulani THIS SATURDAY! Woohoo!!

 

[KalamityJane]

I know you are... you took over the top spot on the AUL leaderboard! (I am happy for you, but there was one day where your account was missing and mine was #1 briefly... THAT'S when I showed it to DH. Lol!)

Where are you in your process? I actually felt like it went faster than I expected once I had the closing documents.
Overall, I was very happy with the process. And we are going to Aulani THIS SATURDAY! Woohoo!!

Lol!! I showed my DH too like “hey, seeee I really did get a good deal” because he thinks it’s a lot of money (I mean it IS but we would spend more on Disney in 3-4 years anyway sooooo)

I’m waiting on closing papers right now, paid the deposit and they acknowledged it. ROFR was passed 6/6! So jealous you are going to Aulani! Hope you have an amazing time!!

 

[Kkrup]

Updated (International Seller)
Home Resort: Aulani
Broker: www.fidelityrealestate.com
Title Company: https://www.firstam.com/ (Julie at Hawaii location)
Offer made: 3/22/23
Offer accepted: 3/22/23
Sent to ROFR: 3/24/23
Passed ROFR: 3/31/23 (7 days)
Closing docs received: 4/27/23 (27 days)
Closing docs returned: 4/28/23 (buyer)
Closing docs signed: 5/22/23 (seller)
Closing docs returned: 6/9/23 (seller)
Closing: 6/9/23
Deed recorded: 6/14/23
Contract Showing on Membership (new member):
Points in account:

Days Total: TBD

There was a bit of a snafu with the closing docs. The title company stated they hadn’t received it, when tracking showed it was delivered a week prior. They found it and pushed to close. Have yet to hear directly from them, but did see deed listed on comptroller site. However, the sellers (4 names) and buyers (two names, myself and husband) are listed as both grantor(s) and grantee(s). Is this accurate?

Congrats on moving it forward. Sorry to hear the struggle on the site. Not sure if that is correct or not. If there is an error, Disney will catch it!!

 

[Ashlotte]

Lol!! I showed my DH too like “hey, seeee I really did get a good deal” because he thinks it’s a lot of money (I mean it IS but we would spend more on Disney in 3-4 years anyway sooooo)

I’m waiting on closing papers right now, paid the deposit and they acknowledged it. ROFR was passed 6/6! So jealous you are going to Aulani! Hope you have an amazing time!!

It IS a lot of money, but you also got a great deal! I would think when ROFR returns you’ll be able to sell for a profit, should you want to. Or at least that’s what I’m telling myself about my contract to justify buying a contract we didn’t need.

 

[DonMacGregor]

Oh, I realize now a notary has to be involved, it’s the US Embassy part that I still find suspicious. We have stuff notarized by our lawyer all the time, and we’ve used a regular public notary a few times when he wasn’t available. Notaries aren’t that scarce, almost every large real estate office and most law firms have one on staff, usually one of the legal assistants or receptionists who has that as part of their job, plus all the notaries in their own offices and such.

We sold physical property in Florida to an American without anything special or different than using our lawyer in a regular notary role. We didn’t have to visit a US Embassy or do anything other than what we’d usually do when selling property.

I’ve reached out to the agent I was dealing with at Magic Title to see if there’s any situation where the embassy visit would be required. I’ll update with her answer when I get it.

As a Canadian, you may not need to visit the US Embassy, but in many other countries (the UK, for example), notaries such as are found in the US do not exist. In the UK, a "notary" is actually a type of lawyer, and document signatures can only be attested to by such lawyers, or a solicitor. For many US states (possibly all), even if a document has been "notarized" (actually an "attestation of signature") by a UK lawyer or solicitor, it still must receive an apostille from the embassy validating that the individual who issued the attestation was legally empowered to do so. Conversely, an individual seeking to have a document notarized can simply make an appointment at the embassy to begin with, and have the embassy's US notary notarize the document. Either way, there's a real good chance the embassy will be involved.

Being a US born son of two British expats, as their generation aged and passed away, as the oldest cousin it has fallen on me over time to deal with estate and other legal issues on numerous occasions across the pond. Fortunately two of my Scottish cousins are US citizens through their mother, so that has helped on several occasions in getting documents notarized over there.

 

[nob]

Home Resort: HHI
Broker:
Title Company: Mason Title
Offer made: 6/6/23
Offer accepted: 6/6/23
Sent to ROFR: 6/8/23
Passed ROFR:
Closing docs received:
Closing docs returned:
Closing:
Deed recorded:
Contract Showing on Membership (new member):
Points in account:

Days Total:

 

[bookbabe626]

As per my agent at the title company, Canadian sellers can use any public notary, no embassy visit or attestation by any other officials is necessary.

 

[Cmpierce1]

UPDATE: 7/6
FOURTH Contract
Home Resort: VGF
Broker:
Title Company: Magic
Offer made: 04/13/23
Offer accepted: 04/14/23
Sent to ROFR: 04/17/23
Passed ROFR: 05/18/23
Closing docs received: 06/12/23
Closing docs returned: 06/13/23
Closing: 6/15/23
Deed recorded: 6/20/23
Contract Showing on Membership (existing): 7/6/23
Points in account:

 

[accm]

FOURTH Contract
Home Resort: VGF
Broker:
Title Company: Magic
Offer made: 04/13/23
Offer accepted: 04/14/23
Sent to ROFR: 04/17/23
Passed ROFR: 05/18/23
Closing docs received: 06/12/23
Closing docs returned: 06/13/23
Closing:
Deed recorded:
Contract Showing on Membership (existing):
Points in account:

Now I'm really curious how Magic vacation titles prioritizes their closing documents. We passed ROFR on the 17th, and still haven't received anything. I'm not going to lie, I'm getting pretty mad about it, and it's affecting my opinion of DVCresale market as well.

 

[Cmpierce1]

Now I'm really curious how Magic vacation titles prioritizes their closing documents. We passed ROFR on the 17th, and still haven't received anything. I'm not going to lie, I'm getting pretty mad about it, and it's affecting my opinion of DVCresale market as well.

Not sure how they prioritize. We have bought three contracts within about two months and these last two have taken longer than the first. I know they had an influx of closings within the past two months as well. From others comments DVC Resale market and Magic have been closing faster than others but who knows! Hopefully yours will go through soon!

 

[bookbabe626]

Update:

Home Resort: Beach Club
Broker: https://www.dvcresalemarket.com/
Title Company: https://magicvacationtitle.com/
Offer made: 4/29
Offer accepted: 4/29
Sent to ROFR: 5/1
Passed ROFR: 5/23
Closing docs received: 5/24
Closing docs returned: 5/24 (buyer)
Closing: 5/31
Deed recorded: 6/2
Contract Showing on Membership (existing): 6/14
Points in account:

Days Total:

 

[bookbabe626]

Question…the contract number showing in my profile and on the ”manage points” page is not the same contract number as from my closing docs and such from the broker and title company. The resort, total points and UY are correct, although no points have actually been loaded yet. Is this normal?

Does the contract number change when you buy it?

 

[lilsonicfan]

...sorry! misread the post i was responding to.