Closing

[dizfanz]

I am in the closing process and just wanted to know how you find out if closing was finished.
Do they contact you throughout the process or just when it was done.
Basically, does no news mean good news?--I have a grey matter on my credit report and I hope it won't be a problem, that's why I ask.

 

[BobBrazeal]

I'll assume that you are closing through Disney. If it is a resale, please disregard as it would be different. I've done both.

I'd say that no news is good news. I just closed on an add-on at VWL and here was the timing.

I signed the papers on 4/29/01 and sent them back on 4/30/01. They got them on 5/1/01. There is a mandatory 15 day grace period from the date you sign the papers. For me, that meant that I couldn't close before 5/13/01. All closings at Disney are done on Wednesday. They don't really even process the papers until after the 15 days and then it takes a few days to process and get ready for closing. So although my grace period was over on 5/13/01 the papers were not ready to go to closing on 5/16/01 (Wednesday). This meant that they wouldn't go until 5/23/01. I called member services the next Friday (5/25/01) and confirmed that I had closed and the points were available. Even made a ressie. I've still never heard anything from my "guide"!

Actually you can call member services and you will probably find that your points for 2001 (or 2002 according to when you use year is) are already available for making ressies. The points that you get for the current year are not available until you close.

 

[DVCKaren]

I am taking it you are financing through Disney? If so, they will process that paper work to get you approved during the 15 day cooling period. Once you are approved, you will get a letter saying so. After that, once you deed is recorded, you will then get a letter for that too. I would say, no news is good news, but if I were you I would call your guide to be sure, we did.