Closing

[BSil]

So, I made and offer back in Feb. It was accepted, I sent some money, yadda yadda.

Finally the title company is involved after we pass ROFR, and they are supposed to close my contract by the 15th of April. I get an email on the 18th telling me that the truth in lending document was wrong. It was off by .01 , and it needed to be resigned and mailed back before we could close. I signed it, and emailed it back in pdf format. I told them in that email that they had 24 hours to complete the closing.

I got an email back saying that they would complete the closing with that emailed document, but they also want the original mailed. I get a new email today saying the lender will not authorize closing without the original document. Excuse me, but the lender is the one who couldn't get the numbers right to begin with. Why should I have to wait for closing, to satisfy their error? I mean can't I just send them a check for a .86, to make up the penny error? All told, this resale has been a bigger pain in the *** than buying my house. The communication from the resale company, title company, and lender have been horrible. I have had to email or call multiple times to get someone to answer questions about where we were int he process etc. I actually got a call one night from the lender telling me that I was expecting too much for her to get back within 24 hours. She was just "so busy", and that she would get to me when she had time.

I think I really should have just bought through Disney. Sure it would have been a few more bucks, but at this point, it would have felt worth it. Thanks for letting me vent...maybe I'll be able to make a reservation sometime in May.

 

[disneynutz]

Sometimes the process goes smoothly, sometimes is doesn't. Our last contract through Disney required three sets of documents due to errors by Disney and a direct buy has three or four times more pages than resale.

Bill

 

[disneydenisel]

So, I made and offer back in Feb. It was accepted, I sent some money, yadda yadda.

Finally the title company is involved after we pass ROFR, and they are supposed to close my contract by the 15th of April. I get an email on the 18th telling me that the truth in lending document was wrong. It was off by .01 , and it needed to be resigned and mailed back before we could close. I signed it, and emailed it back in pdf format. I told them in that email that they had 24 hours to complete the closing.

I got an email back saying that they would complete the closing with that emailed document, but they also want the original mailed. I get a new email today saying the lender will not authorize closing without the original document. Excuse me, but the lender is the one who couldn't get the numbers right to begin with. Why should I have to wait for closing, to satisfy their error? I mean can't I just send them a check for a .86, to make up the penny error? All told, this resale has been a bigger pain in the *** than buying my house. The communication from the resale company, title company, and lender have been horrible. I have had to email or call multiple times to get someone to answer questions about where we were int he process etc. I actually got a call one night from the lender telling me that I was expecting too much for her to get back within 24 hours. She was just "so busy", and that she would get to me when she had time.

I think I really should have just bought through Disney. Sure it would have been a few more bucks, but at this point, it would have felt worth it. Thanks for letting me vent...maybe I'll be able to make a reservation sometime in May.

Sorry to hear about the errors and delays in your closing. I know it won't make you feel better, but my first resale took over three months for me to get it all done and in the system, and my current resale is taking about the same. I signed papers on 1/18 and am still not in the system. I was definitely thinking that I should have purchased direct from Disney the first time, but now I am just a lot more patient with the system .

Once you are in and make your first reservation, you will feel a lot better. I know the waiting makes the end anti-climatic and leaves kind of a sour taste in your mouth. I had to split our first stay because what we wanted wasn't available by the time we closed, but I got over it and now we are one big happy family with DVC . You did save $$ going resale and the pain of the process will dissipate over time. I think a lot of people are hearing about delays due to closing companies or Disney lag time, so you are not alone.

 

[mjc2003]

When the nuisance of this process is in the rear view mirror, and you are in the midst of your 1st DVC vacation with several thousand extra dollars at your disposal, you will finally feel some vindication.

(This is what I keep telling myself!)

 

[soxyes]

This is our third resale. The first two went more smoothly. While I would have preferred the same smooth process for this contract, I understand the crazy rush that happened due to the 3/21 deadline. I think that some of the brokers/title companies just couldn't handle the heavy volume that came through. We passed ROFR on 3/21 and hopefully will be closing soon. (We're told that they have our docs/$ and the sellers, we're just waiting on final stuff from Disney.)

As nice as it would have been to whiz through this process in a couple of days, IMHO, the savings are worth it!

 

[saintstickets]

So, I made and offer back in Feb. It was accepted, I sent some money, yadda yadda.

Finally the title company is involved after we pass ROFR, and they are supposed to close my contract by the 15th of April. I get an email on the 18th telling me that the truth in lending document was wrong. It was off by .01 , and it needed to be resigned and mailed back before we could close. I signed it, and emailed it back in pdf format. I told them in that email that they had 24 hours to complete the closing.

I got an email back saying that they would complete the closing with that emailed document, but they also want the original mailed. I get a new email today saying the lender will not authorize closing without the original document. Excuse me, but the lender is the one who couldn't get the numbers right to begin with. Why should I have to wait for closing, to satisfy their error? I mean can't I just send them a check for a .86, to make up the penny error? All told, this resale has been a bigger pain in the *** than buying my house. The communication from the resale company, title company, and lender have been horrible. I have had to email or call multiple times to get someone to answer questions about where we were int he process etc. I actually got a call one night from the lender telling me that I was expecting too much for her to get back within 24 hours. She was just "so busy", and that she would get to me when she had time.

I think I really should have just bought through Disney. Sure it would have been a few more bucks, but at this point, it would have felt worth it. Thanks for letting me vent...maybe I'll be able to make a reservation sometime in May.

Which resale company if you don't mind saying?

This is our third resale. The first two went more smoothly. While I would have preferred the same smooth process for this contract, I understand the crazy rush that happened due to the 3/21 deadline. I think that some of the brokers/title companies just couldn't handle the heavy volume that came through. We passed ROFR on 3/21 and hopefully will be closing soon. (We're told that they have our docs/$ and the sellers, we're just waiting on final stuff from Disney.)

As nice as it would have been to whiz through this process in a couple of days, IMHO, the savings are worth it!

Ditto here. Our first two went real smooth. 60 days or less from making an offer to points in the system. We will hit day 60 tomorrow on this 3rd purchase and we are still waiting for the seller to return their closing docs, title company to record the deed and then Disney to get transfer entered in their system. Sighhhhhh

 

[BSil]

Thanks for the replies all. I think all the extra contracts probably did slow things down. I do wish a bank would triple check figures before sending paperwork, but I suppose everyone is entitled to a mistake now and again. The cost difference really is the main thing I need to keep in mind. I got my points for a steal, so I probably shouldn't be balking about anything really. I suppose I just feel like it is a large purchase, and I was hoping for a bit more professionalism from all parties involved. I can't wait to get in the system though, and get my family down there for our first ever WDW trip. I bought the plane tickets already because Southwest had some real fare drops this week, now hopefully some sort of room will be available once I finally am in the system. Bass Ackwards, I know, but I figured that even if I have to stay outside DVC, the cheap flight was worth it anyway.

To Bill B, the resale company was not the one who sponsors this board, it also wasn't Fidelity. You can probably figure it out from there, without me naming names on the board .