Come on Estoppel!!!!

[Vernie822]

Still waiting.. 7.5 weeks now! I emailed the broker today just to double check on things and she said that things were behind because they had trouble getting the sellers to re-scan some documents and send them in - I guess when they scanned it in the first time it got jumbled and was unreadable?

We made our offer on 9/21 and it took the sellers 3 weeks to send in their portion of the contracts. So we're going on 3 months and we still haven't closed. A little annoying considering the sellers are making $12,000 off of us and they're the ones taking forever

 

[LenInMaine]

Still waiting.. 7.5 weeks now! I emailed the broker today just to double check on things and she said that things were behind because they had trouble getting the sellers to re-scan some documents and send them in - I guess when they scanned it in the first time it got jumbled and was unreadable?

We made our offer on 9/21 and it took the sellers 3 weeks to send in their portion of the contracts. So we're going on 3 months and we still haven't closed. A little annoying considering the sellers are making $12,000 off of us and they're the ones taking forever

I've heard a few stories about some sellers being slow, but most would not be because they have a vested interest to hurry up and get it done. I'd bet its more likely that the closing company is just behind.

 

[ktmo]

I know the feeling. They are handling my closing as well. We passed ROFR 11/9. I'm going away this week and wont be back until mid next week so I called yesterday asking when I might see paperwork. I was told not before I get back next week. Which would be the 6 week mark. So... I'm figuring The end of the month (she said "not that long"). If you passed 3 weeks before me, and just got them yesterday, I'm sure it'll be end of the month. Maybe Christmas week? With the sounds of it, who knows.

TT&M was the title company that worked on my contract. From talking with them, they work backward from your closing date. My broker assured me that we could closer earlier, but in the end we closed 1 day before the "on or before" by date in our contract. I got our closing document 7 weeks after ROFR. I think that is only because I was on them to move things along. They didn't send out the closing documents to the seller for another week. So, they had no intention of actually closing. Then it was another month to actually close.

 

[Vernie822]

Received our closing docs Monday 12/14!

Made offer - 9/21
Offer sent to ROFR - 10/6
Passed ROFR - 10/19
Received closing docs - 12/14

 

[hayesdvc]

*** has received my estoppel information today. It was submitted on 12/30. *** was notified that the new Disney policy of supplying estoppel information to the title company two weeks prior to the closing date went into effect with submissions dated 1/4/16 forward.

 

[hayesdvc]

*** has received my estoppel information today. It was submitted on 12/30. *** was notified that the new Disney policy of supplying estoppel information to the title company two weeks prior to the closing date went into effect with submissions dated 1/4/16 forward.

I was told by the title company, I would not receive the closing documents today as the documents are at the brokers, waiting on approval. What does that mean ? At this point of the process, I did not know there was another layer outside the title company.

 

[Coamfo]

I was told by the title company, I would not receive the closing documents today as the documents are at the brokers, waiting on approval. What does that mean ? At this point of the process, I did not know there was another layer outside the title company.

I have no idea. I had the closing docs within 30 minutes of Duncan having my estoppel. We plan to buy another contract later and I think I'm going to stick with my realtor and Duncan!

 

[DisBuckMan]

I have no idea. I had the closing docs within 30 minutes of Duncan having my estoppel. We plan to buy another contract later and I think I'm going to stick with my realtor and Duncan!

We passed ROFR on 10/30, received estoppel on 11/5, and Duncan finally got us our closing papers on 12/3...basically a month later. So, it's hit or miss apparently with ROFR, estoppel, and receiving closing documents.

 

[hayesdvc]

We passed ROFR on 10/30, received estoppel on 11/5, and Duncan finally got us our closing papers on 12/3...basically a month later. So, it's hit or miss apparently with ROFR, estoppel, and receiving closing documents.

Any idea why it took the title company a month to get you the closing documents? I think most good title companies would already have the documents ready to send to the seller and buyer just waiting on the receipt of estoppel information and simply plug in the needs numbers.

To the DVC veterans, assuming the buyer and seller returns their respective documents to the title company promptly, should the easiest/quickest part of the resale purchase process be the closing?

 

[pangyal]

I was told by the title company, I would not receive the closing documents today as the documents are at the brokers, waiting on approval. What does that mean ? At this point of the process, I did not know there was another layer outside the title company.

Trust me, you want your broker to look over those papers before you get them. Not sure who you are dealing with for brokerage, but we have appreciated having an extra pair of eyes on those contracts before having to pay the fees. Either the brokers or ourselves have found at least one error on every single closing document for our seven contracts that needed to be corrected before we sent the papers and payment back.

 

[pangyal]

Any idea why it took the title company a month to get you the closing documents? I think most good title companies would already have the documents ready to send to the seller and buyer just waiting on the receipt of estoppel information and simply plug in the needs numbers.

To the DVC veterans, assuming the buyer and seller returns their respective documents to the title company promptly, should the easiest/quickest part of the resale purchase process be the closing?

It used to be. Now, the title companies are backlogged to a ridiculous degree and are not really managing their workload effectively.

 

[Minniesgal]

Any idea why it took the title company a month to get you the closing documents? I think most good title companies would already have the documents ready to send to the seller and buyer just waiting on the receipt of estoppel information and simply plug in the needs numbers.

To the DVC veterans, assuming the buyer and seller returns their respective documents to the title company promptly, should the easiest/quickest part of the resale purchase process be the closing?

Assume a month from the title company having the documents in their hands to you having everything you need. It might be 3 weeks but a month is more realistic.

Disney seems backlogged maybe because of processing annual dues from the members who pay annually.

 

[ScubaCat]

It used to be. Now, the title companies are backlogged to a ridiculous degree and are not really managing their workload effectively.

I closed with TTM and I received my closing docs less than 2 weeks after passing ROFR. Of course, ROFR took over a month, but still, I really didn't have much to complain about. They did make an error on the points document I was supposed to sign that took nearly a week to fix, but still, I didn't experience any serious delays that I could pin on TTM. All my delays have been from Disney, both ROFR and maybe someday getting me a member ID number that I can use to get on the waitlist for NYE now that the studios are all gone...

 

[SuperRob]

SuperRob---$150-$15569-110-VGF-APR- 12/15, 100/16, 100/17, sent 1/19, passed 2/19

Title company is Magic Vacation Title, Broker is DVCResaleMarket.

 

[wn01aa]

wn01aa---$140-$19583-132 pts--VGF--Oct--80/15, 132/16, 132/17 - sent 2/1 PASSED -2/26

Now on to Estoppel. Wonder what the current wait time is for it.

 

[gharter]

wn01aa---$140-$19583-132 pts--VGF--Oct--80/15, 132/16, 132/17 - sent 2/1 PASSED -2/26

Now on to Estoppel. Wonder what the current wait time is for it.

Hope yours isn't too long.
We passed ROFR on 2/2 and had closing docs on 2/15

 

[hayesdvc]

Hope yours isn't too long.
We passed ROFR on 2/2 and had closing docs on 2/15

Based on the current time people are waiting between passing ROFR and receiving closing documents, your 13 day wait has to be some kind of a record.

Congratulations !

 

[gharter]

Based on the current time people are waiting between passing ROFR and receiving closing documents, your 13 day wait has to be some kind of a record.

Congratulations !

From what I was reading on this board, I was really surprised to get the closing docs that fast! It was a great surprise. Now, we are just waiting for the deed to be recorded (hopefully early this week) and get our member number. Hoping for the middle of March (fingers crossed).

 

[nluvwithdisney]

Passed ROFR 2/3 and received our closing docs today 2/29! One step closer!

 

[gharter]

Passed ROFR 2/3 and received our closing docs today 2/29! One step closer!

Congrats. Hope your closing docs go fast.