Closing Time!

[VGCgroupie]

Final update! That was practically fast.

Home Resort: CCV
Broker: www.****************.com
Title Company: Mason Title & Escrow Company
Offer made: 05/26
Offer rejected: 05/29
Buyer Walked: 05/29
Jokes Seller Accepted: 06/01
Sent to ROFR: 06/05
Passed ROFR: 07/12
Closing docs received: 07/17
Closing docs returned (buyer): 07/17
Closing docs returned (seller): ??
Closing: 08/05
Deed recorded: 08/07
Contract Showing on Membership: 08/16
Points in account: 08/17

Days Total: 83 days

View attachment 886908

Congrats to finally crossing the finish line!

 

[BrianLo]

Congrats to finally crossing the finish line!

Thanks! I've immediately already started the process for a 14d cruise with NCL to the Philippines and an 11d on the new Celebrity Ascent for Eastern Caribbean. My points haul seemingly should mostly cover both.

Ironically, I still am ahead of my DVC booking window, that will open in October, for the remainder of the stash.

 

[VGCgroupie]

Thanks! I've immediately already started the process for a 14d cruise with NCL to the Philippines and an 11d on the new Celebrity Ascent for Eastern Caribbean. My points haul seemingly should mostly cover both.

Ironically, I still am ahead of my DVC booking window, that will open in October, for the remainder of the stash.

Amazing

 

[BrianLo]

Just to follow up in case anyone is thinking about similar maneuvers. I was quite anxious about my 2022 points banked into 2023 (expiring December) being difficult to rent out as my closing dragged on and on, particularly when the brokers seem to want a 3 month leeway.

That’s now ‘officially’ done and I recouped the full non priority 16pp amount. Technically 51pp averaged across the three calendar years of points backlog (2022, 2023, 2024) I had.

I think there really are an exceptional number of rental requests. I certainly don’t mind the currently more generous commission fee they make given the tax benefits on exchanges and the ease of the whole thing.

Hopefully helpful info for a person or two down the road. See you later closing time thread!!

 

[atthebeachclub]

Just to follow up in case anyone is thinking about similar maneuvers. I was quite anxious about my 2022 points banked into 2023 (expiring December) being difficult to rent out as my closing dragged on and on, particularly when the brokers seem to want a 3 month leeway.

That’s now ‘officially’ done and I recouped the full non priority 16pp amount. Technically 51pp averaged across the three calendar years of points backlog (2022, 2023, 2024) I had.

I think there really are an exceptional number of rental requests. I certainly don’t mind the currently more generous commission fee they make given the tax benefits on exchanges and the ease of the whole thing.

Hopefully helpful info for a person or two down the road. See you later closing time thread!!

I think the major players get a ton of rental requests. I had some points that ended up in holding after the recent tropical storm (we had to cancel prior two days prior as we worried about arriving; turns out the flights were an issue after all) and I was able to rent them out in a matter of hours after posting on David’s. I had tried myself on Facebook and it didn’t go very quickly so I used David’s as a backup to get things done.

 

[jwalker79]

given the tax benefits on exchanges

Say more?

 

[E2ME2]

Data Point for those still waiting:
This one took exactly 4 weeks thru ROFR:
E2ME2 (seller)---$140-$5000-30-BCV-Jun-0/23, 14/24, 30/25, 30/26- sent 7/22 - passed 8/19
Good Luck to all

 

[BrianLo]

Say more?

A like for like exchange via an intermediary specifically for another vacation does not require one to pay rental income tax. Similar to how you can exchange your points via International exchange or for a cruise. Just in a slightly more round about way.

Using a broker to rent your points, but strictly as a “points requirement” in order to book a cruise (it starts as a cruise reservation basically) allows one to skirt the tax. Versus if you just take the cash you have to report it on your income, which depending on certain brackets and countries may defeat a lot of the value. You can still top up the rest of the cruise reservation with cash.

At this time www.dvcrentalstore.com supports DCL and rumours for RCL. www.dvcrequest.com (otherwise known as David’s) has access to DCL, RCL, NCL and Celebrity.

 

[jwalker79]

That’s very helpful, thanks!

 

[VGCgroupie]

Received closing docs 7 days after passing ROFR from First American for my Aulani contract. Not as fast as Jeffrey Sweet but much faster than TRCS. However this is my view today and Aulani contracts are much too complicated to docusign while mobile til we go home. Helpfully the seller is okay waiting until next week.

My docs show FIRPTA and I was expecting to see HIRPTA. Normal?

Side note: almost attached a screenshot with my address and name I took earlier of the docs instead of the photo because… the Tropical Itch is no joke Only $2 for an extra shot in your drink my friends.

 

[Ronferr80]

Is there anyone who's deed has recorded on 8/8 that has any updates on their DVC account? I'm an existing member at boardwalk and purchased AKL resale (same use year) and thought I would of seen something by now.

 

[jwalker79]

Is there anyone who's deed has recorded on 8/8 that has any updates on their DVC account? I'm an existing member at boardwalk and purchased AKL resale (same use year) and thought I would of seen something by now.

Not that helpful, but I'm a few days behind you (8/13) and haven't seen any movement yet either. My sense is that these happen in batches, and I was expecting to see the contract and points sometime next week, so we'll see.

 

[juliebee]

Is there anyone who's deed has recorded on 8/8 that has any updates on their DVC account? I'm an existing member at boardwalk and purchased AKL resale (same use year) and thought I would of seen something by now.

I put a bunch of the info from this and a past closing thread into excel to see what the average dates are. The spread was between 12 days and 24, with the average being 19 days until you see it in your membership. Then the average is 2 days later for the points to be loaded.

 

[atthebeachclub]

Home Resort: AKV
Broker: https://www.fidelityrealestate.com/
Title Company: https://www.masontitle.com/
Offer made: 7/19/24
Offer accepted: 7/19/24
Sent to ROFR: 7/22/24
Passed ROFR: 8/20/24
Closing docs received: 8/21/24
Closing docs returned: 8/22/24 (buyer)
Closing: 9/3/24
Deed recorded: 9/4/24
Contract Showing on Membership (existing member):
Points in account:

Days Total:

 

[VGCgroupie]

Received closing docs 7 days after passing ROFR from First American for my Aulani contract. Not as fast as Jeffrey Sweet but much faster than TRCS. However this is my view today and Aulani contracts are much too complicated to docusign while mobile til we go home. Helpfully the seller is okay waiting until next week.

My docs show FIRPTA and I was expecting to see HIRPTA. Normal?

Side note: almost attached a screenshot with my address and name I took earlier of the docs instead of the photo because… the Tropical Itch is no joke Only $2 for an extra shot in your drink my friends.

Just an update now that Im home and no longer under the influence of the beach or alcohol, my seller is also international and thats why FIRPTA. FWIW Fidelity did not disclose to me that seller was international in the listing. So now we have HARPTA and FIRPTA

 

[Grapefruit]

Home Resort: CCV
Broker: http://www.fidelityrealestate.com
Title Company: http://www.dvcclosings.com
Offer made: 7/23
Offer accepted: 7/24
Sent to ROFR: 7/29 (paperwork issues; had to do twice due to seller name issues)
Passed ROFR: 8/26
Closing docs received: 8/26
Closing docs returned: 8/26
Closing:
Deed recorded:
Contract Showing on Membership (existing member):
Points in account:

Days Total:

 

[MickeyismyCat]

Home Resort: AKV
Broker: www.****************.com
Title Company: DVC Title & Escrow
Offer made: 7/8/24
Offer accepted: 7/9/24
Sent to ROFR: 7/11/24
Passed ROFR: 8/05/24
Closing docs received: 8/05/24
Closing docs returned: 8/12/24
Closing: 8/14/24 ?
Deed recorded: 08/14/24
Contract Showing on Membership (existing member):
Points in account:

Days Total: 49 and counting...

 

[MilesMouse]

Second time adding to BLT via resale.

Home Resort: Bay Lake Tower
Broker: https://www.dvcresalemarket.com/
Title Company: Magic Vacation Title
Offer made: 7/12
Offer accepted: 7/17
Sent to ROFR: 7/17
Passed ROFR: 8/16
Closing docs received: 8/16
Closing docs returned: 8/19 (buyer)
Closing: 8/26
Deed recorded: 8/27
Contract Showing on Membership (existing member):
Points in account:

Days Total:

 

[tx911]

Home Resort: VGC
Broker: DVCResale.com
Title Company: First American
Offer Made: 6/12
Offer Accepted: 6/13
Sent to ROFR: 6/15
Passed ROFR: 7/8
Closing docs received: 7/9
Closing docs returned: 7/9 (buyer), 8/6 (seller)
Closing funds wired: 7/9
Closing: 8/7
Deed Recorded: 8/7
Contract showing on membership (existing): 8/22
Points in account: 8/24
Days Total: 73

 

[jwalker79]

Home Resort: Bay Lake Tower
Broker: https://www.fidelityrealestate.com/
Title Company: https://www.dvcclosings.com/
Offer made: 7/1/24
Offer accepted: 7/1/24
Sent to ROFR: 7/2/24
Passed ROFR: 7/25/24
Closing docs received:7/25/24
Closing docs returned: buyer 7/25/24, seller 8/5/24
Closing: 8/12/24
Deed recorded: 8/13/24
Contract showing (existing member): 8/27/24
Points in account: TBD
Days so far: 57 days and just about done!