Come on Estoppel!!!!

[tino0120]

Thanks for all the response! To me it's weird too that if me and the seller both send in the document and the fund over 2 weeks ago, what are we really waiting for? The title company replied my email today stating "We are currently waiting on Disney updates to the seller’s account. When we receive that we will be in a position to close and we will email you when it is in Disney’s hands to start the process." I am not sure what that mean, but I thought that Disney verified seller's account during the ROFR process.

 

[Disneyhappy]

We passed RFR on 2/16 (4 week process) and were told 3 weeks for estoppel. It is now over 3 weeks and have been told we should hear from the title company this week. It sounds like we could have to wait another 3 weeks until I can book with the points? This is ridiculous. It took half the time with the other contract we bought. I am missing my booking window. I know the brokers don't have control over the timing but it seems my timeframe was very underestimated.

 

[5 Mickey Fans]

Sorry if this seems ignorant, but your loan closing is being handled by a title company? When we asked our broker/agent last week a question about the closing documents, he forwarded it to an attorney. I assume the attorney is handling our closing. Where does the title company come into play?

 

[CMNJ]

Sorry if this seems ignorant, but your loan closing is being handled by a title company? When we asked our broker/agent last week a question about the closing documents, he forwarded it to an attorney. I assume the attorney is handling our closing. Where does the title company come into play?

Not sure which previous poster you were referring to but both attorneys and title companies handle timeshare closings. Not sure if sales that involve a buyer financing are more commonly handled by attorneys (as we paid outright for our purchase) but many closings are simply handled by a title company. They are state licensed and bonded agencies that escrow the funds and do all the title work for the brokers (perform the title search/preparation of closing documents/obtain the title insurance policy). Our broker and all the other big DVC brokers we had talked to prior to purchasing indicated they generally use a title agency for closing (only one mentioned sometimes using an attorney when their title company had too much backlog or if the sale was "more complicated").

 

[Mish415]

I'm on 21 days. Waiting on closing documents.......

I am on day 18 :O(

 

[Mish415]

Based on review of the timeline thread, people have received their closing docs 17 days after passing ROFR. We are at day 14. I'm getting tired of constantly checking my email.

I am on day 18 :O(

 

[madhavok]

Just received my closing docs! End of day 22.

 

[5 Mickey Fans]

Just received my closing docs! End of day 22.

Congrats!

 

[5 Mickey Fans]

We just got the email with our closing documents! One step closer.

 

[5 Mickey Fans]

Has anyone that passed ROFR around 2/16 received their closing docs? We passed on that day and are still waiting...

Yes, we passed ROFR on 2/16 and received our closing docs last night.

 

[disneyhutson]

I love this link its like a support group...HAHA!!

 

[DWorldOrBust]

I finally got my closing docs!!!!!!!!!!!!!!!!

I e-mailed magic vacationl title on Tuesday to find out where my docs were and they confirmed that they HAD recieved the estoppel from Disney and were hoping to have my docs by the end of the week. I finally got them this afternoon (Day 24). I will be sending them out priority mail first thing in the morning.

Fingers crossed to my fellow shipmates waiting on closing docs.

 

[Disneyhappy]

We passed RFR on 2/16 (4 week process) and were told 3 weeks for estoppel. It is now over 3 weeks and have been told we should hear from the title company this week. It sounds like we could have to wait another 3 weeks until I can book with the points? This is ridiculous. It took half the time with the other contract we bought. I am missing my booking window. I know the brokers don't have control over the timing but it seems my timeframe was very underestimated.

Spoke with our title company yesterdfay. They hope to have closing documents to us by the end of Friday but can't promise. I was told once closing documents are returned, they need to again verify with Disney points one last time before filed and returned to Disney. I was told it will be at least three more weeks once I send in documents until I will be able to book. That will make it a total of almost 12 weeks from the time of submission for RFR. I can close on a home mortgage much quicker than this! I asked my broker if Disney is not prioritizing resales because direct sales are busy. Not sure if it is true but she laughed and said no because direct sales are actually down. I thought the Polynesian was selling fast.

 

[JamesA1]

Just received my closing docs! End of day 22.

Congrats and thanks for posting an update. Gives me a little hope since I am on day 21.

 

[DisneyfromDeland]

I had two contracts pass recently. One on 2/20 and one on 3/12. The contract that passed ROFR on 2/20 generated an email from my broker (TS) stating that I should receive closing docs about 15 days after passing. The email for the contract that passed on 3/12 now states 21-25 days for closing docs. I still haven't received closing docs for the 2/20 contract.

 

[Lyn07]

YAY!! We finally got our closing docs. yesterday afternoon (and passed ROFL on 2/16).

 

[lishie]

I just got my email today from our agent. They're anticipating 21-25 days for Estoppel. According to the email we passed on 3/12. I was impatient waiting for ROFR, this may kill me

 

[disneyhutson]

We passed ROFR on 3/10, received closing Docs yesterday 3/15 and sent off UPS with check. Now hoping the sellers process their paperwork in a timely manner.

 

[graychef]

We passed ROFR on 3/10, received closing Docs yesterday 3/15 and sent off UPS with check. Now hoping the sellers process their paperwork in a timely manner.

Wow. That was fast. I passed 2/24 and am still waiting for closing docs.

 

[sgrap]

We passed ROFR on 3/10, received closing Docs yesterday 3/15 and sent off UPS with check. Now hoping the sellers process their paperwork in a timely manner.

How on earth did you get closing documents 5 days after passing ROFR? Congratulations!