Closing Time!

[MommyCMickey]

Not sure if it’s ok to post this here. Typically how long does it take for sellers to return closing documents? I was told I had 7 days to return the funds and paper work. We don’t close until Nov 3. Received documents 9/11. Returned documents and funds and were confirmed they received them 9/13.

 

[DonMacGregor]

Update #4

Home Resort: BRV
Broker: https://www.**********.com/
Title Company: https://www.dvcclosings.com/
Offer made: 8/27
Offer accepted: 8/29
Sent to ROFR: 8/29
Passed ROFR: 9/8
Closing docs received (buyer): 9/9
Closing docs returned (buyer): 9/11 (online notary)
Closing docs returned (seller): 9/11 (online notary)
Closing: 9/14
Deed recorded: 9/14
Contract Showing on Membership (existing member): 9/22
Points in account: 9/23 (no call)

Days Total: 27

Not too shabby.

 

[Sandisw]

Not sure if it’s ok to post this here. Typically how long does it take for sellers to return closing documents? I was told I had 7 days to return the funds and paper work. We don’t close until Nov 3. Received documents 9/11. Returned documents and funds and were confirmed they received them 9/13.

Most will get them in quickly but sellers can take as long as needed, including up until the closing date.

 

[GramMo]

Most will get them in quickly but sellers can take as long as needed, including up until the closing date.

Most will get them in quickly but sellers can take as long as needed, including up until the closing datec

Could be that it’s a “delayed” contract which means it can’t be closed until points that were used to book a vacation that won’t be completed until Nov 3. That happened to us, didn’t see it in the fine print. We made an offer on July 30, accepted same day, money and paperwork sent Aug 1, ROFR passed Aug 30 but unable to close until 9/16. We closed on the 18th and are now waiting for our contract to load on DVC site.

 

[MommyCMickey]

Could be that it’s a “delayed” contract which means it can’t be closed until points that were used to book a vacation that won’t be completed until Nov 3. That happened to us, didn’t see it in the fine print. We made an offer on July 30, accepted same day, money and paperwork sent Aug 1, ROFR passed Aug 30 but unable to close until 9/16. We closed on the 18th and are now waiting for our contract to load on DVC site.

Ugh let me reread everything. I think I’ll reach out to the broker Monday to see.

 

[Sandisw]

Could be that it’s a “delayed” contract which means it can’t be closed until points that were used to book a vacation that won’t be completed until Nov 3. That happened to us, didn’t see it in the fine print. We made an offer on July 30, accepted same day, money and paperwork sent Aug 1, ROFR passed Aug 30 but unable to close until 9/16. We closed on the 18th and are now waiting for our contract to load on DVC site.

I have done several delayed closings and documents are usually sent this far in advance.

But, that could be a possibility. However. It doesn’t require sellers to wait. They can still sign well in advance.

 

[maui22]

Not sure if it’s ok to post this here. Typically how long does it take for sellers to return closing documents? I was told I had 7 days to return the funds and paper work. We don’t close until Nov 3. Received documents 9/11. Returned documents and funds and were confirmed they received them 9/13.

It is painful when sellers take a long time to return documents.

We just finished the resale process and had the same experience. We signed/returned closing documents day after clearing ROFR. A week later we asked the title company where things were. They said the sellers had not returned their documents and were not responding to phone calls or emails. Title company said the sellers had roughly 30 days after ROFR because the closing was 30 days. It was day 13 after we returned documents when we heard sellers returned their closing documents. We closed the next day and deed was on county website the same day as closing.

It was frustrating knowing we were spending thousands, paying higher price because we needed points ASAP, and even paid more for title company that was supposed to be faster. Company we used allowed all documents to be signed online, which only made the sellers delaying more painful.

Hope it all works out for you.

 

[maui22]

Home Resort: Bay Lake Tower
Broker https://fidelityrealestate.com/
Title Company: https://www.dvcclosings.com/
Offer made: 7/28/2023
Offer accepted: 7/28/2023
Sent to ROFR: 8/5/2023
Passed ROFR: 8/29/2023
Closing docs received: 8/30/2023
Closing docs returned (buyer):8/30/2023
Closing docs returned (seller): 9/12/2023
Closing: 9/13/223
Deed recorded: 9/13/23
Contract Showing on Membership (current member): 9/21/2023
Points in account: 9/23/2023

 

[MissLiss279]

Update 1 (I thought I had updated earlier, but couldn’t find it.)

Final Update

Home Resort: CCV
Broker: https: resales.*******.com/
Title Company: www.trcsinc.com
Offer made: 08/03/23
Offer accepted: 08/03/23
Sent to ROFR: 08/05/23
Passed ROFR: 08/29/23
Closing docs received: 08/30/23
Closing docs returned: 09/08/23 (buyer)
Closing: 09/11/23
Deed recorded: 09/11/23
Contract Showing on Membership (existing member): 09/23/23
Points in account: 09/24/23

Days Total: 52

 

[MommyCMickey]

Ugh let me reread everything. I think I’ll reach out to the broker Monday to see.

Update. Sellers are choosing to do online notary on 10/25 so I guess that 11/03 closing date is pretty much firm lol. Thanks everyone will post back when we close

 

[CathoDad22]

It is painful when sellers take a long time to return documents.

We just finished the resale process and had the same experience. We signed/returned closing documents day after clearing ROFR. A week later we asked the title company where things were. They said the sellers had not returned their documents and were not responding to phone calls or emails. Title company said the sellers had roughly 30 days after ROFR because the closing was 30 days. It was day 13 after we returned documents when we heard sellers returned their closing documents. We closed the next day and deed was on county website the same day as closing.

It was frustrating knowing we were spending thousands, paying higher price because we needed points ASAP, and even paid more for title company that was supposed to be faster. Company we used allowed all documents to be signed online, which only made the sellers delaying more painful.

Hope it all works out for you.

Painful indeed. We got our docs and returned them just a couple days after passing ROFR. It’s been a week. We just found out today that the seller can’t get a notary appt until 10/05.
So… we have to wait two weeks just for them to sign. Not their fault, but still frustrating

 

[maui22]

Painful indeed. We got our docs and returned them just a couple days after passing ROFR. It’s been a week. We just found out today that the seller can’t get a notary appt until 10/05.
So… we have to wait two weeks just for them to sign. Not their fault, but still frustrating

Glad they were able to give you a reason and a date. Doesn't make it go any faster, but by this time next month you should have your contract and points loaded so you can start using the points.

 

[DoUevenDisneyBro]

I thought I was far more calm, cool and collected this time in resale until you see people get their points (or at least their contract) showing in their account when they recorded after you. I am suddenly like - is something wrong, did something not go right and they think I am a new member, etc. The information is power but it can also drive you crazy.

Agreed. I’m seeing people get their ROFR waivers in less than 15 days, and here I am at day 27. Most of them sent after me.

 

[Parkhopperplanner]

Home Resort: Old Key West (2057 Extended)
Broker: https://www.dvcresalemarket.com/
Title Company: https://magicvacationtitle.com/
Offer made: 9/4
Offer accepted:
Sent to ROFR: 9/6
Passed ROFR: 9/18
Closing docs received: 9/21
Closing docs returned: 9/22
Closing: 9/27
Deed recorded:
Contract Showing on Membership (existing member):
Points in account:

Days Total: 23 days and counting!

 

[jess2022]

Final Update:
Home Resort: Copper Creek
Broker: https://dvcsales.com/
Title Company: https://www.dvcclosings.com/
Offer made: 8/28
Offer accepted: 8:29
Sent to ROFR: 8/31
Passed ROFR: 9/6
Closing docs received: 9/11
Closing docs returned: 9/12
Closing: 9/15
Deed recorded: 9/15
Contract Showing on Membership (existing member): 9/27
Points in account: 9/28

1 month exactly from offer to points in account!

 

[DonMacGregor]

Update Final

Home Resort: BRV
Broker: https://www.**********.com/
Title Company: https://www.dvcclosings.com/
Offer made: 8/27
Offer accepted: 8/29
Sent to ROFR: 8/29
Passed ROFR: 9/8
Closing docs received (buyer): 9/9
Closing docs returned (buyer): 9/11 (online notary)
Closing docs returned (seller): 9/11 (online notary)
Closing: 9/14
Deed recorded: 9/14
Contract Showing on Membership (existing member): 9/22
Points in account: 9/23 (no call)

Days Total: 27. Not sure what happened, but I know I posted this on Saturday (including the note that I didn't even call to get the points loaded, but they were in the next day), but the post has disappeared, so here it is again. 27 days, from offer to points loaded. I did call to make a transfer between memberships Saturday morning, and noticed the points had loaded after that when I went to check that everything moved over correctly, but I wasn't even on hold while the CM did the transfer, so it wasn't due to the transfer or even some Pixie Dust. Not complaining.

 

[clandoc5803]

So, out of curiosity, does there seem to be much difference in the timing of setting up a new account vs. adding a contract to an existing membership? I've looked through this thread some, but haven't seen a lot of new accounts.

 

[jess2022]

So, out of curiosity, does there seem to be much difference in the timing of setting up a new account vs. adding a contract to an existing membership? I've looked through this thread some, but haven't seen a lot of new accounts.

We had a new account this spring and it may have been an extra couple of days, but I don't know if that's just the timing then of all accounts. It wasn't a big difference.

 

[clandoc5803]

We had a new account this spring and it may have been an extra couple of days, but I don't know if that's just the timing then of all accounts. It wasn't a big difference.

That's what I'm hoping for. This is our first contract and we are ready to get things set up. Our broker told us that we were probably looking at 25-30 days to setup the account, but that seems a good bit longer than what I'm seeing on here.

 

[jess2022]

That's what I'm hoping for. This is our first contract and we are ready to get things set up. Our broker told us that we were probably looking at 25-30 days to setup the account, but that seems a good bit longer than what I'm seeing on here.

We were told that as well, but it's been 2-3 weeks both times. The first we called to get our points loaded (due to expiring points) after the contract was showing. This time we just waited and they were loaded within a day.