Confused...

[KPH500]

Hubby and I assumed our contract had closed a couple of weeks ago when loan info showed up on our member page on the website. I spoke with MS around the same time and was told it looked like we would close within days and would receive our deed shortly thereafter. Today I received a Fedex envelope from DVC which I assumed would contain our deed, but it was the $500 Visa card. Now I'm not complaining about the $500 but am a bit confused that we haven't received our deed or a call from our guide saying that we have closed.

Am I just overthinking this?

 

[disneynutz]

I don't understand why so many people make such a big deal out of "closing". Closing is a formality and has no impact on the member making reservations.

The process takes several weeks and is considered final when your deed is recorded with the county clerk. Your loan will be recorded also.

You probably won't get a call from your Guide because they don't have anything to do with the closing. They sold you the contract, they are done.

 

[disneynutz]

After reading a few more posts, I think that I need to clarify "closing". Some members are using the word "closing" meaning that their contracts were executed and they were added to the MS system. "Closing" actually occurs when your deed is recorded.

 

[Granny]

Karen...I don't think you are overthinking the situation, and being a new owner who has forked out a considerable amount of money I can see where there could be some nervousness. Frankly, it's your Guide's job to hold your hand through the process and ease any concerns you might have.

As indicated, you should be able to make reservations within a day of formalizing your agreement with Disney. Again, your Guide can help if you run into any issues with that.

Also, my Guide assisted in getting me the ability to bank my first year of points even though I was past the banking deadline for my use year. That is a normal courtesy extended for all new contracts but it does have a time limit on what they consider "new".

Personally, if I were you I'd call my Guide and have him/her follow up for you. It really is the only time you need a Guide (until you're ready to buy more points, of course ).

Good luck!

 

[KAT4DISNEY]

A FYI on deeds - those do not come immediately.

We "closed" on our AKV add on in early/mid July and the deeds arrived just 1 1/2 weeks ago. As long as MS has you in the system you should be able to make reservations - all you're waiting on is the final paperwork to make it thru the system.

We also "closed" on a VWL resale and the deed took about the same amount of time. With that purchase we were informed that it takes another 6-8 weeks for the deed so I am not certain why MS would have told you that it would be received that quickly. I believe it's completely outside their control at that point just as any real estate transaction is.

I think you were given bad information and don't have anything to worry about at the moment. If it gets to be longer than 8 weeks then I'd start to inquire.

 

[LisaS]

It takes much longer to close than I expected and then it takes a while for the deeds to be mailed out. If you want to see if your deed has been recorded with the county, you can look it up online here: http://or.occompt.com/recorder/web/login.jsp

Click on the "I Acknowledge" on the Disclaimer page and that will bring up the search page.

On the search page, put your name in the Grantee text box. Enter it as Lastname Firstname without a comma in between. (Ex: If your name is Mary Jones, enter it as jones mary and not as jones, mary.) Click the search button. In addition to your deed, it will retrieve any other documents filed under name such as ROFR documents for those who purchased a resale contract.

If you want to restrict your search to deeds, uncheck the check box where it says "Uncheck box to search specific document types" and select Deed from the list. Put your name in the Grantee box as described above and click the Search button.

There is a message on their site that it will be down for maintenance for most of the day tomorrow (Sat Sep 27).

 

[honeymo78]

Thanks for that link Lisa, we weren't concerned about the deed being recorded but it was nice to see it there in black and white anyway.

 

[5forDiz]

while you were going through the purchase process maybe things were miscommunicated to you ( or maybe not communicated at all ) but hopefully you haven't been delaying making a reservation waiting for your deed to arrive ; as pp's have said it isn't necessary to wait on it and you are already in DVC system.

DVC is a significant purchase & you are not alone in wanting to know that everything has occurred without any glitches. We've all been there & hope that the helpful replies here have reassured you

Wishing you and your family many happy DVC times in years to come

 

[edk35]

Ex. Our deeds were recorded on Feb. 27th 2007 and we did all the paperwork at Disney on Jan. 31st 2007.....so it took about a month to show up. We added on Aug. 22nd of this year over the the phone, with the forms being sent a few days later and mailed back to them with a few days. I just checked and that contract is still not recorded. I just hope that my Disney Visa card gets here by Nov. 20th.....for our next trip.

 

[KPH500]

Thanks to all for your advice and words of wisdom. My major concern was just that the document had gotten lost in the mail because we hadn't received it. Trust me, we are NOT waiting around to make ressies!

Lisa, thanks for the link. Just to be sure I checked and we're listed! I'll try to be more patient and expect the doc in the mail in the coming weeks.

Thanks again everyone.