Closing ?

[3girlsfun]

I keep hearing people talk about closing. I understand what closing is, as I "closed" on my house. I just want to make sure I understand. We send our signed contract back, then the info. gets to Disney, then after it passes ROFR, we can close. Does that mean I will sign another set of paperwork and send back? I guess I thought that this was the only paperwork we signed.

 

[disneydenisel]

I keep hearing people talk about closing. I understand what closing is, as I "closed" on my house. I just want to make sure I understand. We send our signed contract back, then the info. gets to Disney, then after it passes ROFR, we can close. Does that mean I will sign another set of paperwork and send back? I guess I thought that this was the only paperwork we signed.

I believe that the initial paperwork you signed was the contract to buy, and once you pass ROFR, you will need to sign the more detailed paperwork for the title paperwork. For example, you will need to have the exact names of the owner(s), how you want to hold title, etc. You will need to make the final payment (I assume you made a deposit of around $1000 when your offer to buy was accepted), and have the paperwork notarized. Likewise, the seller will need to sign paperwork on his/her end for everything to be handed over.

This can take a short time or a slightly longer time, depending on how quickly everyone returns their paperwork. You should be able to ask your broker for the "next steps" so that you know what to expect. Good luck!

 

[KAT4DISNEY]

Yes, you will have more paperwork to complete including how you will hold title on the deed. The seller also has paperwork to sign and their signatures must be notarized which is why it sometimes takes a little longer than the buyer thinks it should. At some point you will receive the paperwork from the title company. I've usually had some to complete prior to ROFR and the remainder once Disney has waived.