Come on Estoppel!!!!

[pangyal]

UGHHH, we just heard from our sellers that the notary missed a page in the closing docs and now they have to get the docs back to have them notarized again. The broker nor title agency relayed this information, the seller texted us tonight apologizing. I cannot believe how screwed up this entire process has been. We're now on day 99 : (

Oh my goodness, can this get any worse for you? I'm so sorry for this whole ordeal you're being put through

 

[pangyal]

We're dealing with Fidelity (big 5?), Monera, and ***. Cleared estoppel on Wednesday and we still don't have any documents.

I think they are really backed up right now and everything is taking triple the time due to the snowball effect. We dealt with Fidelity and First American Title in December and total time from passing ROFR to points loaded was about 18 days. Now, I think you are going to be waiting 100 days for the whole process regardless of who you go with.

We have one contract waiting for estoppel with one broker, two in ROFR with another broker, and a third in ROFR with a lesser known broker. All are using Magic Vacation Title. It will be interesting to see if there are any differences in the timelines!

 

[allison plevrakis]

I am so sorry that you have been treated so unprofessionally. Any good news over the weekend?

No good news. I was hoping our seller would try to get the docs notarized on Sat, instead she said they'd do it Monday, forgetting that Monday was a holiday, so they said hopefully they'd do it Tuesday (today). The last time they mailed the docs and that took 5 business days. I'm at the point where I'd like to get our money back and walk away from this whole thing. Its been 104 days. Every day since Feb I wake up hoping for good news and never get any. I know there are much bigger issues going on around me, but this has certainly taken its toll. We know we have at least a month in front of us to completion and we purchased this with the intent to book in September. We can't book our flights and its doubtful we'll get the DVC property we want. Our broker and title agent will no longer communicate with us, this whole situation stinks.

Does anyone know what happens if you back out, do you lose the initial $1000 deposit? I don't even know how to go about backing out, since no one will talk to me. Stupidly I wired the money on 5/7 thinking we could close that week.

 

[FSUSammy]

Monera deals with Magic Vacation Title, who has been very smooth and capable in all of the dealings we've had with them. I did learn that if you are using a broker that is not one of the "big five", you have to let them know that you want to deal with *** before you apply with Monera to make sure things go smoothly.

I wonder how long we will wait for Estoppel on our April 29 ROFR passed contract. I'm guessing another two weeks at least? Sigh.

I'm a day behind you, also using Monera and Magic Vacation Title. Hopefully we'll hear about Estoppel this week.

 

[Disneychica18]

Finally here after a 50 day wait for ROFR. Our sellers forgot to bank points, but we are here now. Let the waiting begin again.

 

[pangyal]

No good news. I was hoping our seller would try to get the docs notarized on Sat, instead she said they'd do it Monday, forgetting that Monday was a holiday, so they said hopefully they'd do it Tuesday (today). The last time they mailed the docs and that took 5 business days. I'm at the point where I'd like to get our money back and walk away from this whole thing. Its been 104 days. Every day since Feb I wake up hoping for good news and never get any. I know there are much bigger issues going on around me, but this has certainly taken its toll. We know we have at least a month in front of us to completion and we purchased this with the intent to book in September. We can't book our flights and its doubtful we'll get the DVC property we want. Our broker and title agent will no longer communicate with us, this whole situation stinks.

Does anyone know what happens if you back out, do you lose the initial $1000 deposit? I don't even know how to go about backing out, since no one will talk to me. Stupidly I wired the money on 5/7 thinking we could close that week.

Unfortunately, yes, you would lose your deposit . I am appalled by the way you are being treated by the broker and title company, though. I am not even understanding how they can threaten to fire you as a client, how would even be possible? Would they transfer your whole file to another title company, which I'm not certain of the legalities of? I think they're blowing smoke and I would not let them bully you.

 

[summabreeze85]

Sent to ROFR 3/17, PASSED Rofr 4/17, Received closing docs 5/22
*** Title Company
Sent the docs back 5/23 and got word they received them today (because of yesterday being a holiday)
We will see how long it takes to close!

 

[3pletprincesses]

Will not deal with whom? And why?

Monera will not deal with Timeshare Closings Services Inc. They wouldn't go into more details other than they will not work with them anymore

 

[Dawn T.]

Passed ROFR 5/4
Closing documents today 5/27!!!

So excited!!!!

 

[Rylie Grite]

Passed ROFR 5/4
Closing documents today 5/27!!!

So excited!!!!

Very Cool. I also passed 5/4. Who is your title company?

 

[SecretPoohLove]

I passed rofr 4/28 and got clising documents today. 5/27 Only after i emailed to inquire. Makes me wonder.....

 

[Dawn T.]

Very Cool. I also passed 5/4. Who is your title company?

Magic Vacation (Brenda)

 

[FSUSammy]

I passed rofr 4/28 and got clising documents today. 5/27 Only after i emailed to inquire. Makes me wonder.....

I just emailed to inquire with the title company a few days ago so I'm waiting for them to get back to me. We passed rofr on 4/30 so hoping for closing docs any day now

 

[Lakegirl]

Finally here after a 50 day wait for ROFR. Our sellers forgot to bank points, but we are here now. Let the waiting begin again.

Congratulations!!!!

 

[FSUSammy]

So apparently our title company received the estoppels on 5/26 and are saying that I should have our closing docs sometime next week. Don't they know I'm impatient!?!?!?!?

 

[Friendlyadvice2]

So apparently our title company received the estoppels on 5/26 and are saying that I should have our closing docs sometime next week. Don't they know I'm impatient!?!?!?!?

Hang in there Sammy! There is so much misinformation being put out by the brokers/title companies that who knows what's accurate anymore.

One thing for sure, due to a lack of visbility in the whole resale process for both buyers and sellers, it's very easy for the brokers/title companies to tell either party whatever they want, to a certain degree, to justify delays. A few days delay here-and-there can add up to two weeks lost time before it's said and done. How does one actually know when your contract completed Estoppel? You don't........ and can only hope the title company is truthful. Based on the horror stories we've been reading on these threads I feel bad for many people and look at what they're being told by the brokers/title companies as very suspect. What happened to just being honest? I have no problem with delays, just be as up-front about them as possible and don't provide misinformation to justify further delays.

For my recent resale contract, I was advised 6 days late by the broker that we had passed ROFR and only found out because I emailed them....."we were just about to advise you" they said. The contract was allegedly sent to Estoppel that day also. I was advised by the title company that the sellers returned their documents with errors which would delay closing a few days as they waited for revised documents to be sent. The "funny" part of the story is that coincidentally, my contract was actually closed and recorded an hour later as I found it on the OCC website in real time. The deed had been notarized several days prior and the OCC website was even 3 days behind in posting their "proofed" documents. I have yet to be informed by the title company that our contract closed.....it's been over 10 days! Had I not done the research, I still would only know what they chose to tell me and would have no idea it even closed. Yet, between commissions and closing costs, this industry is making money hand-over-fist while providing very subpar performance! Buyer/Seller beware....do your own due diligence!

 

[allison plevrakis]

Here is the dreaded email from TT&M saying it has to go back to Disney. Note that they've had our closing docs and money since 5/7, its been 3 weeks. We just got this email yesterday:

"Hello,

I have received your documents. At this time we have requested the
final updates from Disney for point status and final updates from Disney's
accounting department. Once we have this information from Disney we will be
in a position to close.

Thank you,

Jaqueline Hernandez
Contract Administrator
Timeshare Title & More, LLC"

 

[SomeImaginationHuh]

Here is the dreaded email from TT&M saying it has to go back to Disney. Note that they've had our closing docs and money since 5/7, its been 3 weeks. We just got this email yesterday:

"Hello,

I have received your documents. At this time we have requested the
final updates from Disney for point status and final updates from Disney's
accounting department. Once we have this information from Disney we will be
in a position to close.

Thank you,

Jaqueline Hernandez
Contract Administrator
Timeshare Title & More, LLC"

So, some have been appalled at what you've gone though with this title company, yet others have mentioned that this is standard for this company. This is the company that I used for both of my contracts, and now I'm curious if I should expect the same. Can anyone confirm if every contract through TT&M goes back to Disney? Thanks! And so sorry Allison. This has been so NOT magical for you

 

[allison plevrakis]

So, some have been appalled at what you've gone though with this title company, yet others have mentioned that this is standard for this company. This is the company that I used for both of my contracts, and now I'm curious if I should expect the same. Can anyone confirm if every contract through TT&M goes back to Disney? Thanks! And so sorry Allison. This has been so NOT magical for you

SomeImaginationHuh, it sounds like its a crap shoot. I was told this is a mandatory step and we could not skip it even if the buyer and seller agreed it was not needed. If you go to the Closing Time!! thread some people are closing without it going back to Disney at TT&M. I guess it depends on which employee you are working with and their mood that day?!

 

[SomeImaginationHuh]

SomeImaginationHuh, it sounds like its a crap shoot. I was told this is a mandatory step and we could not skip it even if the buyer and seller agreed it was not needed. If you go to the Closing Time!! thread some people are closing without it going back to Disney at TT&M. I guess it depends on which employee you are working with and their mood that day?!

Well, I am sorry you've had to deal with this. Just try and keep in mind all of the great memories you and your family are going to have. This will all be a distant memory soon!