Closing Time!

[VGCgroupie]

I don’t know how www.dvcclosings.com did it but we closed within 72 hours both times we purchased when them.

When we used Jeffery Sweet we received docs next day to sign. They closed next day after seller returned theirs. My 2 other resales so far have not been anywhere near as efficient. I will use Jeffrey Sweet any time I am able to in the future.

 

[Flash_Sloth]

For those of you who have used First American Title www.firstam.com , it seems a little weird that you email or fax a pdf form with your CC info for the initial escrow deposit. How long does it usually take them to get to the email and process things? I signed & emailed things late Thursday, and now it is the weekend. I don't want to miss the 5 day window to make my escrow deposit if I'm waiting on them.

Every time I get an email notification from my bank, I think "ok, this is it." But no, it is every kind of alert. Your monthly statement is ready, check your account security settings, your payment is scheduled, etc. But not the one for charging the deposit.

 

[VGCgroupie]

For those of you who have used First American Title www.firstam.com , it seems a little weird that you email or fax a pdf form with your CC info for the initial escrow deposit. How long does it usually take them to get to the email and process things? I signed & emailed things late Thursday, and now it is the weekend. I don't want to miss the 5 day window to make my escrow deposit if I'm waiting on them.

Every time I get an email notification from my bank, I think "ok, this is it." But no, it is every kind of alert. Your monthly statement is ready, check your account security settings, your payment is scheduled, etc. But not the one for charging the deposit.

As long as you did your part within the 5 days you are fine. It's possible the seller hasnt signed their documents yet. Not working with Fatco this time but offer submitted and accepted 09/17, I signed and gave CC 09/18 they have not charged me yet since sellers still have not signed. So I havent been sent to ROFR yet either.

 

[TinkAgainU]

For those of you who have used First American Title www.firstam.com , it seems a little weird that you email or fax a pdf form with your CC info for the initial escrow deposit. How long does it usually take them to get to the email and process things? I signed & emailed things late Thursday, and now it is the weekend. I don't want to miss the 5 day window to make my escrow deposit if I'm waiting on them.

Every time I get an email notification from my bank, I think "ok, this is it." But no, it is every kind of alert. Your monthly statement is ready, check your account security settings, your payment is scheduled, etc. But not the one for charging the deposit.

Just give them a call on Monday to be sure they received it?

When I send a wire or any banking info, I ALWAYS first call a number I know is correct to verify the information, then follow up to make sure it was received by the right person. Maybe it's just me, but I usually prefer to wire my deposit. I know I'm forfeiting credit card points, but I like the idea that I "tested" the wire instructions with my deposit instead of the more substantial balance of the payment at closing.

 

[tx911]

For those of you who have used First American Title www.firstam.com , it seems a little weird that you email or fax a pdf form with your CC info for the initial escrow deposit. How long does it usually take them to get to the email and process things? I signed & emailed things late Thursday, and now it is the weekend. I don't want to miss the 5 day window to make my escrow deposit if I'm waiting on them.

Every time I get an email notification from my bank, I think "ok, this is it." But no, it is every kind of alert. Your monthly statement is ready, check your account security settings, your payment is scheduled, etc. But not the one for charging the deposit.

I used them and sent pdf with my CC info etc. on Friday. Had not heard anything by the following Tuesday, so I emailed the agent at First American. Anyway everything ended up being fine.

 

[N_kwi]

Home Resort: PVB
Broker: https://www.dvcresalemarket.com/
Title Company: https://magicvacationtitle.com
Offer made: 7/14/2024
Offer accepted: 7/15/2024
Sent to ROFR: 7/19/2024
Passed ROFR: 9/5/2024
Closing docs received: 9/5/2024
Closing docs returned: 9/6/2024
Closing docs returned by seller: 9/16/2024
Closing: 9/18/2024
Deed recorded: 9/19/2024
Contract Showing on Membership (new member):
Points in account:

Days Total: 69 and counting

 

[Disney got all my$$$]

Home Resort: Animal Kingdom Villas
Broker: https://www.dvcresalemarket.com
Title Company: https://magicvacationtitle.com
Offer made: 7/23
Offer accepted: 7/23
Sent to ROFR: sent 7/25, passed 8/23
Closing docs received:8/23
Closing docs returned: (buyer) 8/28 my documents were received by title company since I mailed the check… We had to wait a few more days for seller to return docs.
Closing:8/30
Deed recorded:9/03
Contract showing (existing member):
Points in account:
Days so far:61

 

[atthebeachclub]

Update 3: I see it on my account!
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): 9/22/24
Points in account:

Days Total: 65

 

[disdain]

Home Resort: Aulani
Broker: https://www.fidelityrealestate.com/
Title Company:
Offer made: 7/23/24
Offer accepted: 7/24/24
Sent to ROFR: 7/25/24
Passed ROFR: 8/19/24
Closing docs received: 8/21/24
Closing docs returned: 8/21/24 (buyer)
Closing: 8/30/24
Deed recorded: 8/30/24
Contract Showing on Membership (new member): 9/20/24
Points in account:

Days Total:

Received the "Your Disney Vacation Club Member One-Time Activation Code" email on Friday at 4pm PST with the Activation Code. This was almost two hours before we received the "Welcome Home to Disney Vacation Club" email which includes the Club ID (new member). You should have seen my wife and I trying every number we could find for those two hours.

Hoping for the points tomorrow and we'll be done!

 

[Disney got all my$$$]

Update 3: I see it on my account!
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): 9/22/24
Points in account:

Days Total: 65

Hopefully I'm next!

 

[E2ME2]

It will remain there until they process the transfer.

DVD has to dissolve your contract and create the new one to add it to the new owner so it’s all done at the same time.

That is why it doesn’t happen until then. I know it’s crazy but might be why a lot of contracts about sellers needing to reimburse if points go missing.

Wow - the points finally were removed from my account. I received the wire transfer on 8/30, so the buyer has been waiting 23 days to see those points!

Updated -

Home Resort: Beach Club Villas
Broker: https://www.fidelityrealestate.com/
Title Company: https://www.dvcclosings.com/
Offer made: 7/19/24
Offer accepted: 7/19/24
Sent to ROFR: 7/22/24
Passed ROFR: 8/19/24
Closing docs received:7/26/24
Closing docs returned: buyer ??? seller 7/31/24
Closing: 8/30/24
Deed recorded: ????
Contract showing ????
Points in account: 9/22/24
"Show Me The Money" - 8/30/24 (Wire Transfer received by Seller)
42 DAYS for Seller, and was only listed for 2 days prior to the offer, buyer paid asking price.
BUT 65 Days total, for the Buyer.

 

[VGCgroupie]

Wow - the points finally were removed from my account. I received the wire transfer on 8/30, so the buyer has been waiting 23 days to see those points!

Updated -

Home Resort: Beach Club Villas
Broker: https://www.fidelityrealestate.com/
Title Company: https://www.dvcclosings.com/
Offer made: 7/19/24
Offer accepted: 7/19/24
Sent to ROFR: 7/22/24
Passed ROFR: 8/19/24
Closing docs received:7/26/24
Closing docs returned: buyer ??? seller 7/31/24
Closing: 8/30/24
Deed recorded: ????
Contract showing ????
Points in account: 9/22/24
"Show Me The Money" - 8/30/24 (Wire Transfer received by Seller)
42 DAYS for Seller, and was only listed for 2 days prior to the offer, buyer paid asking price.
BUT 65 Days total, for the Buyer.

This makes me soooooooo nervous as a buyer. Estoppel will show points there but they can still just use them after closing. I know most brokers have a clause for missing points but still makes me nervous.

 

[atthebeachclub]

This makes me soooooooo nervous as a buyer. Estoppel will show points there but they can still just use them after closing. I know most brokers have a clause for missing points but still makes me nervous.

I think more buyers need to be aware of this. I was clueless buying my first contract. No language in the contract about missing points. Nothing went wrong, but I watched for it on my second contract.

 

[Sandisw]

This makes me soooooooo nervous as a buyer. Estoppel will show points there but they can still just use them after closing. I know most brokers have a clause for missing points but still makes me nervous.

Unless it’s changed, estoppel does not show point activity…it only verifies the financial part of the membrrship…dues and any loans.

I have had to provide that info when I sold..both before listing and also once closing documents were prepared.

 

[VGCgroupie]

Unless it’s changed, estoppel does not show point activity…it only verifies the financial part of the membrrship…dues and any loans.

I have had to provide that info when I sold..both before listing and also once closing documents were prepared.

You are probably right and me wrong.

 

[carseatguru]

Title co just told me "Disney’s accounting department is down next week, Tues-Fri, so we won’t be able to close until 9/30 or later"

Does this mean they won't be loading contracts either? My deed was recorded 9/4 and I'm waiting (impatiently) to see it on my account.

 

[TinkAgainU]

This makes me soooooooo nervous as a buyer. Estoppel will show points there but they can still just use them after closing. I know most brokers have a clause for missing points but still makes me nervous.

On a positive note, I think most people with points remaining are selling because they either don't care to use the points, or find booking a hassle. Those are not people "likely" to use the points.

But yes, adds to the stress a bit, collecting anything from a Seller after closing would likely be close to impossible unless the broker reimbursed you, or you lived nearby and could take them to small claims court. But you could certainly make a note of their name on social media and the very active Disney crowd would run with it lol.

 

[VGCgroupie]

Does this mean they won't be loading contracts either? My deed was recorded 9/4 and I'm waiting (impatiently) to see it on my account.

I’m not sure. I hope for everyone waiting’s sake it’s a different dept.

 

[Disney got all my$$$]

Where in my DVC account will the contract show up? Not loans right, since it's paid in full?

 

[atthebeachclub]

Where in my DVC account will the contract show up? Not loans right, since it's paid in full?

I can see mine is ready for points to load because you will have the new resort photo in the header of the Dashboard. You may have to arrow to get it to show up.