Come on Estoppel!!!!

[bellapecas]

I have to ask again, isn't the estoppel issued by Disney prior to ROFR? Using the correct term and knowing when it happens can make a big difference to those anxiously waiting to make their first reservation.

Bill

Hi Bill! I've only been in the resale game since last May, but from my experience last year with buying one contract through a broker and being my own broker on my second purchase, the estoppel process happens after ROFR. They verify points before going into ROFR, but they don't do the title work and look up how much is owed on any mortgages until after ROFR is passed.

To everyone waiting, the estoppel process has been taking longer than ROFR for a while. It took close to three weeks back in July with my failed contract, in September with my first purchase, and again in January with my second purchase.

 

[bellapecas]

Ok, that is weird. When I replied to Bill's comment above, it was the last comment I saw on this thread AND it had a timestamp of "4 minutes ago." After I posted, everything changed and my comment is severely out of place. :-/

 

[sgrap]

We passed ROFR on 2/20 and was told the following this morning when I checked with our closing company (Magic Vacation Title)

"Disney has not forwarded the estoppel for your contract as yet. They are about 80 behind yours so it will probably be another 5-7 days."

Just wanted to share the timeline I was told for those who passed ROFR around the same time as we did...

Thanks for sharing . . . what do you think they mean by another 5-7 days? 5-7 beyond the 14 days they normally say?

I was told this Wednesday, a week after ROFR passing (2/25), that it would likely be the third week in March before we got closing documents because Disney is running behind. We have Magic Vacation Title as well.

 

[DWorldOrBust]

Well it's now day 18, and I'm watching my email like a hawk.... Hoping and praying for closing docs!

 

[madhavok]

Nothing at day 17. I assume I won't receive over the weekend so Monday would be day 20.

 

[sgrap]

Nothing at day 17. I assume I won't receive over the weekend so Monday would be day 20.

Frustrating!! Hope you get good news on Monday!

 

[sgrap]

Well it's now day 18, and I'm watching my email like a hawk.... Hoping and praying for closing docs!

I really need to learn how to multiquote! But hoping it comes quickly for you! That is getting to be a very long wait. We're only on day 9 and I'm already anxious.

 

[JamesA1]

Same situation here. Passed ROFR on 2/20 after 23 days. Waiting on the estoppel and closing docs making it 15 days and counting.

 

[sgrap]

Does anyone know if some have been filtering in, or if there is a complete stoppage of processing estoppels?

 

[DWorldOrBust]

Nothing at day 17. I assume I won't receive over the weekend so Monday would be day 20.

Same situation here. Passed ROFR on 2/20 after 23 days. Waiting on the estoppel and closing docs making it 15 days and counting.

Good luck everyone, hopefully our ship sails soon!!!!

 

[DWorldOrBust]

Does anyone know if some have been filtering in, or if there is a complete stoppage of processing estoppels?

I've only seen one who passed on a resale but it wasn't a standard resale, I want to say it was a foreclosure and Disney wanted their money.

 

[DWorldOrBust]

This process is making me a stalker! I used to check the ROFR thread and now I've moved onto the estoppel thread. Hahahaha....I guess I'm technically on day 10 after ROFR (just found out today that we passed ROFR on 2/20), so hopefully the wait for closing documents will seem faster! What's the next thread to stalk after this one?

LOL I am the same! I checked the ROFR thread several times a day prior to purchasing my resale contract up to passing ROFR. Now I am stalking my e-mail for closing docs and this thread hoping that someone gets theirs!

We should come up with a name for this ship that we are all on and waiting to SET SAIL! Come on mouse.

 

[sgrap]

I've only seen one who passed on a resale but it wasn't a standard resale, I want to say it was a foreclosure and Disney wanted their money.

Interesting! Hopefully Disney will process a whole boatload at once.

 

[DWorldOrBust]

Interesting! Hopefully Disney will process a whole boatload at once.

Yes! Hopefully it is OUR boatload!

I am hoping to book at AKL, Nov 5-13 in a 2Br for my birthday and the Wine and Dine half marathon.. Who else is waiting to book?

 

[madhavok]

Monday will be 20 days since I passed ROFR. It also happens to be my birthday, hoping the mouse has a present for me.

 

[sgrap]

Yes! Hopefully it is OUR boatload!

I am hoping to book at AKL, Nov 5-13 in a 2Br for my birthday and the Wine and Dine half marathon.. Who else is waiting to book?

We are wanting to book for Nov 15th at our home resort before it opens to everyone at 7 months, but April 15th is looking very iffy.

 

[sgrap]

Monday will be 20 days since I passed ROFR. It also happens to be my birthday, hoping the mouse has a present for me.

Hoping it comes on Monday for your birthday present!!

 

[DWorldOrBust]

Monday will be 20 days since I passed ROFR. It also happens to be my birthday, hoping the mouse has a present for me.

Happy early birthday!!! Fingers and Toes are crossed.

We are wanting to book for Nov 15th at our home resort before it opens to everyone at 7 months, but April 15th is looking very iffy.

Ugh, I certainly hope that we make it before the 7mo window opens. I'll be overnighting my closing docs the day that I get them. The seller returned the contract same day so hopefully they are as quick to return closing docs.

 

[sgrap]

Ugh, I certainly hope that we make it before the 7mo window opens. I'll be overnighting my closing docs the day that I get them. The seller returned the contract same day so hopefully they are as quick to return closing docs.

That is our exact plan too! Our sellers responded to our offer in less than 1 hour so I am hoping they are equally as motivated with closing documents. Our contract was sent for ROFR the day after they accepted our offer, so I am assuming they were very quick with signing too.

 

[Buzzalot]

I passed ROFR on 2/9. Still waiting on closing documents.

Called the title company Wednesday. They received Estoppel a "few days ago". Said I will receive closing documents in a couple days. Keeping my fingers crossed it's by Friday. I'm ready to close.

Have a trip planned for June. Air purchased. Just need a place to stay.

Update: No closing documents yet. Title company said Monday. We will see........

As for the Estoppel, Disney has been sending them out. The title company has mine for approx. A week now.