Closing Time!

[vicarrieous]

Well this process officially sucks. I notarized the docs the same day and mailed them and it was received the day after. Sellers have done nothing. I emailed the title company and my agent. Agent is telling me that the sellers are not communicating with her at all even though she apparently emailed them twice and the title company gave me the same canned response that the sellers are "actively looking for a notary" as last week.

Seems like there was a lot of communication, until they got my deposit and then it dropped off. Anyways, the sellers are in their right to do nothing until closing, but I really was hoping for more care in communicating from agent and of course more effort from the sellers, and a friendlier title company agent. I didnt even know i passed ROFR and just received the closing docs in my email last week before being informed. I was the one that had to email the resale market to see if this was a legit email of closing docs I was receiving. I thought a phone call congratulating us would have been nice.

I did see on the orange county comptroller deed recording website yesterday that the sellers had another dvc contract previously that was foreclosed by their lender because they just stopped making payments. This isn't making me feel any better as it is a lack of responsibility or personal issues from the sellers that their lending company actually had to go through foreclosure and take their contract from them before.

This time around for another contract, I decided to go with Fidelityrealestate.com for resale and if that doesnt go well I really dont want to go thru this process again. IMO too many different things can go wrong. I'm hoping i have better luck with them and the new sellers if this passes ROFR. If not, then definetely going direct and im done. I wouldn't use dvcresalemarket.com again based on my experience Just my two cents. I understand these things take time, I'm just not impressed with the professionalism from start to finish.

When did you send the documents/How long has it been? Is there a date set for closing? Another note, the sellers don't get the deposit. That money is held in escrow and nothing goes to the seller until closing is finalized.

 

[Girlstar30]

When did you send the documents/How long has it been? Is there a date set for closing? Another note, the sellers don't get the deposit. That money is held in escrow and nothing goes to the seller until closing is finalized.

A week ago. I know it hasn't been long at all I'm literally just asking what their plan is because I googled the US embassy in their area and they are taking no new appointments for at least 6 weeks and the closing date is April 7th and I'm not willing to wait for weeks after that.

Like if thats the case, then let me know now and i will just buy direct now because im going to do that anyways, i just wanted to save some money being a resale first, but thats not even worth it to me if we dont close. They would still need to mail everything in and I'm assuming from the middle east to Florida that's going to take some time. I just wish there would be more communication, hell I will find the notary and pay for it for them

I guess the positive side is i have another contract going that may just close around the same time this one does if it passes ROFR. They are United States sellers so better chance it won't be as slow *maybe*. If that one gets ROFR'd and this one falls thru too i am done with resale. I'll just buy my riv contract and be on my way Disney always wins

 

[vicarrieous]

A week ago. I know it hasn't been long at all I'm literally just asking what their plan is because I googled the US embassy in their area and they are taking no new appointments for at least 6 weeks and the closing date is April 7th and I'm not willing to wait for weeks after that.

Like if thats the case, then let me know now and i will just buy direct now because im going to do that anyways, i just wanted to save some money being a resale first, but thats not even worth it to me if we dont close. They would still need to mail everything in and I'm assuming from the middle east to Florida that's going to take some time. I just wish there would be more communication, hell I will find the notary and pay for it for them

I guess the positive side is i have another contract going that may just close around the same time this one does if it passes ROFR. They are United States sellers so better chance it won't be as slow *maybe*. If that one gets ROFR'd and this one falls thru too i am done with resale. I'll just buy my riv contract and be on my way Disney always wins

The fact that the sellers are international and in the middle east is probably weighing heavily in the communication. While I don't have a lot of experiences to draw upon, I will say that in general there seems to be little communication/back and forth in the DVC resale process.

Hang in there, you will have to have quite a bit of patience since closing isn't until April and then you will have to wait until it loads and get points.

 

[Girlstar30]

The fact that the sellers are international and in the middle east is probably weighing heavily in the communication. While I don't have a lot of experiences to draw upon, I will say that in general there seems to be little communication/back and forth in the DVC resale process.

Hang in there, you will have to have quite a bit of patience since closing isn't until April and then you will have to wait until it loads and get points.

Yes pretty much, I'm not emailing again. I already have my email draft saved for one week before April 7th letting them know this process sucked and I'm out

 

[Girlstar30]

The fact that the sellers are international and in the middle east is probably weighing heavily in the communication. While I don't have a lot of experiences to draw upon, I will say that in general there seems to be little communication/back and forth in the DVC resale process.

Hang in there, you will have to have quite a bit of patience since closing isn't until April and then you will have to wait until it loads and get points.

Because i will get all my money back if they don't close on time if I want, correct?

 

[VGCgroupie]

A week ago. I know it hasn't been long at all I'm literally just asking what their plan is because I googled the US embassy in their area and they are taking no new appointments for at least 6 weeks and the closing date is April 7th and I'm not willing to wait for weeks after that.

Like if thats the case, then let me know now and i will just buy direct now because im going to do that anyways, i just wanted to save some money being a resale first, but thats not even worth it to me if we dont close. They would still need to mail everything in and I'm assuming from the middle east to Florida that's going to take some time. I just wish there would be more communication, hell I will find the notary and pay for it for them

I guess the positive side is i have another contract going that may just close around the same time this one does if it passes ROFR. They are United States sellers so better chance it won't be as slow *maybe*. If that one gets ROFR'd and this one falls thru too i am done with resale. I'll just buy my riv contract and be on my way Disney always wins

This is why I always ask if it’s international seller before I decide if I want the contract. I’ve done international once but it was only because it was rare contract. Otherwise I would not.

 

[Girlstar30]

This is why I always ask if it’s international seller before I decide if I want the contract. I’ve done international once but it was only because it was rare contract. Otherwise I would not.

Lesson learned

 

[TinkAgainU]

Because i will get all my money back if they don't close on time if I want, correct?

Ask Escrow, but I think there is a little legal leeway on the exact Closing Date for "reasonable" delays. I've actually walked away from one deposit when the price was not great, and time delays got out of hand. But try to hang in there rather than restart from scratch - if you've passed ROFR you are halfway home!

 

[Girlstar30]

Ask Escrow, but I think there is a little legal leeway on the exact Closing Date for "reasonable" delays. I've actually walked away from one deposit when the price was not great, and time delays got out of hand. But try to hang in there rather than restart from scratch - if you've passed ROFR you are halfway home!

I know i need to chill it's just hard when your 20 year dream is so close to being a reality yet so far, for my profile pictures sake I must push on

 

[dvc_ocd]

I know i need to chill it's just hard when your 20 year dream is so close to being a reality yet so far, for my profile pictures sake I must push on

I completely relate to this. Best I can tell my broker and escrow agent have been knowledgeable and prompt, but this is definitely a lower touch experience than I am used to from traditional real estate closings. Then again, the commissions and closing fees on these contracts are worlds different than non-timeshares.

I've learned to appreciate that managing my anxiety will be part of the process. Next time - and I'm sure there will be a next time - I'll try to temper my enthusiasm and take more time to focus on the contract and the closing process.

I'll be curious to hear how your experiences compare with the different brokers and escrow agents on your two purchases.

 

[Girlstar30]

I completely relate to this. Best I can tell my broker and escrow agent have been knowledgeable and prompt, but this is definitely a lower touch experience than I am used to from traditional real estate closings. Then again, the commissions and closing fees on these contracts are worlds different than non-timeshares.

I've learned to appreciate that managing my anxiety will be part of the process. Next time - and I'm sure there will be a next time - I'll try to temper my enthusiasm and take more time to focus on the contract and the closing process.

I'll be curious to hear how your experiences compare with the different brokers and escrow agents on your two purchases.

Yes totally my experience in the beginning. There were phone calls answering my questions (some wrong lol), very fast and reassuring emails etc. The problem now is no follow through. I would email my agent and she would tell me that she's going to email the sellers, nudge them in the right direction of a notary, and tell me their exact timeline etc and then silence.

I would email again and it's like yeah they haven't answered at all but I'm going to keep trying and then silence. Meanwhile, I have escrow telling me they communicated with her that their actively looking for a notary. It's just irritating because other title companies like Mason provide notaries for US citizens free of charge and international for a charge, but at least the service is readily available. And I dont appreciate copy paste one sentence responses when asking questions.

I wish I would have known about Mason before purchasing, Magic is more expensive and dont offer free notary services. And yes I guess I was comparing it to my real estate agent who I've bought and sold with and had been a shoulder to lean on the entire process and checked in often and this isnt like that now. I am also curious to see how www.fidelityrealestate.com and Mason together compare. To be fair, www.dvcresalemarket.com and magic were great through the ROFR process so I can't make a comparison in favor of one or the other yet.

I take back my statement earlier than I wouldn't use www.dvcresalemarket.com again if Fidelity ends up being the same way. If my akv contract gets eaten in ROFR I would look again where the best price was and I would request the recommended agent by disboarders and Mason for www.dvcresalemarket.com if that was the best deal. But two strikes your out if it's the same two step.

 

[VGCgroupie]

This may take the cake for the longest non delayed close resale on the boards.

Broker: https://www.redweek.com/ (probably wont use again)
Title Company: https://www.fntic.com Fidelity National Title (wont use again)
Offer made: 09/06/24
Offer accepted: 10/06/24
Sent to ROFR: 11/26/24
Passed ROFR: 12/19/24
Finally have contract and points: 03/01/25

Days Total: 176

 

[Girlstar30]

This may take the cake for the longest non delayed close resale on the boards.

Broker: https://www.redweek.com/ (probably wont use again)
Title Company: https://www.fntic.com Fidelity National Title (wont use again)
Offer made: 09/06/24
Offer accepted: 10/06/24
Sent to ROFR: 11/26/24
Passed ROFR: 12/19/24
Finally have contract and points: 03/01/25

Days Total: 176

Damnnnn do you think it's because you used those two in combination? (Www.redweek.com and title company) was this for aulani? I commend the patience this must have taken, did they say why it took so long as a non delayed closing? Don't they kind of have an obligation to close within 60-90 days after? Sorry for all the questions, I've just never seen anything that long

 

[VGCgroupie]

Damnnnn do you think it's because you used those two in combination? (Www.redweek.com and title company) was this for aulani? I commend the patience this must have taken, did they say why it took so long as a non delayed closing? Don't they kind of have an obligation to close within 60-90 days after? Sorry for all the questions, I've just never seen anything that long

The broker took a very long time to process my offer before contracts were even signed. Then title co took a fair amount of time. Then the whole deed getting lost debacle. Its was just a whole mess of things. But it was $97.50pp for a loaded Aulani Sub contract so I held on for the ride due to it being a great deal.

 

[goofytiggerfan]

This may take the cake for the longest non delayed close resale on the boards.

Broker: https://www.redweek.com/ (probably wont use again)
Title Company: https://www.fntic.com Fidelity National Title (wont use again)
Offer made: 09/06/24
Offer accepted: 10/06/24
Sent to ROFR: 11/26/24
Passed ROFR: 12/19/24
Finally have contract and points: 03/01/25

Days Total: 176

Oh man that is insane! I am still waiting on my log in stuff over here. They told my broker it would have been end of this week and still nothing.

 

[juliebee]

This may take the cake for the longest non delayed close resale on the boards.

Broker: https://www.redweek.com/ (probably wont use again)
Title Company: https://www.fntic.com Fidelity National Title (wont use again)
Offer made: 09/06/24
Offer accepted: 10/06/24
Sent to ROFR: 11/26/24
Passed ROFR: 12/19/24
Finally have contract and points: 03/01/25

Days Total: 176

Were all the points there? I know it had been a concern. Hopefully it was intact!

 

[VGCgroupie]

Were all the points there? I know it had been a concern. Hopefully it was intact!

Yes they were. So happy and drunk on points now.

 

[CarolynFH]

Damnnnn do you think it's because you used those two in combination? (Www.redweek.com and title company) was this for aulani? I commend the patience this must have taken, did they say why it took so long as a non delayed closing? Don't they kind of have an obligation to close within 60-90 days after? Sorry for all the questions, I've just never seen anything that long

RedWeek is known on TUG as being an absolute mess to work with when buying or selling any TS, not just D.V.C. And buying/selling any TS in Hawaii takes extra time and effort due to Hawaii’s laws. But this was an exception beyond that!

 

[hhisc16]

Home Resort: AKV
Broker: https://www.dvcresalemarket.com/
Title Company: https://magicvacationtitle.com/
Offer made: 2/28
Offer accepted: 2/28
Sent to ROFR: 3/1
Passed ROFR:
Closing docs received:
Closing docs returned:
Closing:
Deed recorded:
Contract Showing on Membership (new member):
Points in account:

Days Total:

 

[juxtapose]

Home Resort: AKV
Broker: https://www.dvcbyresale.com/
Title Company: Jeffrey Sweet Attorney
Offer made: 2/27/25
Offer accepted: 2/27/25
Sent to ROFR: 1/29/25
Passed ROFR: 2/24/25
Closing docs received: 2/24/25
Closing docs returned: 2/25/25
Closing: 3/3/25
Deed recorded: 3/4/25
Contract Showing on Membership (new member): 3/21/25
Points in account: 3/22/25

Days Total: 55