Closing timeline question

[HappyThoughtsTees]

Hi!
We made an offer on an Aulani contract 3/1 and we still have not closed. Buyer & seller closing docs were returned by 5/24, so it has been 3 weeks. Our title agent last week said they are "at recording" but are waiting on something on Disney's end. I thought once estoppel was issued that Disney's part was done until they create your membership number? Am I missing something?
Thanks!!

 

[DonMacGregor]

Hi!
We made an offer on an Aulani contract 3/1 and we still have not closed. Buyer & seller closing docs were returned by 5/24, so it has been 3 weeks. Our title agent last week said they are "at recording" but are waiting on something on Disney's end. I thought once estoppel was issued that Disney's part was done until they create your membership number? Am I missing something?
Thanks!!

My understanding of the process is that once the closing documents have been signed and funds transferred to the seller, the seller signs a notarized deed and that goes to the recorder's office. Only after the newly recorded deed is sent to Disney does the ball fall back in their court to transfer the membership. Others may have more experience.

 

[macman123]

The estoppel is received that confirms no monies are outstanding and that the account is up to date.
Once you close, the noritised deed is sent to the County Deeds Office.
Disney is then informed and it takes around 3 weeks to get the contract loaded. Then a further week or so to get the points loaded.

It may be that there is an issue with a reservation. You can not close whilst there is an outstanding reservation with the existing owner. Or there might be an issue in terms of the correct number of points declared.

But after estoppel then yes, Disney is not 'usually involved until the contract is loaded.