Delay in Closing

[Merilyn]

Just got word today from Jason at the Timeshare Store that Disney is behind in their paperwork and we have a 3 week delay in our closing. This sure takes a long time. We started this months ago. The ROF was very quick but then a really slow process. Oh well, we really don't need the points right now. Our next trip is already booked with our current points. I am just going to bank these.

 

[drag n' fly]

I am not surprised. We bought directly from Disney on Nov 17 and have not even received our pin numbers or permanent membership cards yet! They must be busier than the passport office

 

[Buckeye Fan]

Sorry for the delay! I'm sure the volume of resales due to 08' MFs coming through and reduced staff due to the holidays doesn't help matters much. Thank goodness this isn't your first contract! I was on pins and needles when we purchased. I bought 2 contracts at the same time and am sooo glad we went into contract mid-January. The wait would have killed me!!!

Though delayed, congrats on adding points!!! That's always a GREAT feeling.

 

[WDW Deb]

I'm not sure if your timeline looks anything like ours. We sent in our 1st round of paperwork on 9/17 and passed ROFR on 10/19. We just got our final documents on 12/6 and sent them in to the TSS. Now we are still waiting for the word. Does this seem longer than usual??? It sure does to us but we're a little anxious for our 1st DVC membership.

 

[DVC Mike]

For those of you waiting, just keep in mind that while the resales process may take quite long compared to buying direct from Disney, you are saving a few bucks.

 

[MichelleB]

Merilyn, which resort are you buying? Just curious.

 

[dopeygirl76]

We expected the process to be lengthy but we are still in the ROFR (to Disney 12/3) on our first DVC and I am getting nervous reading all of this. We aren't planning a trip until Oct 08 - maybe we'll be OK!!!

 

[bblanch]

We expected the process to be lengthy but we are still in the ROFR (to Disney 12/3) on our first DVC and I am getting nervous reading all of this. We aren't planning a trip until Oct 08 - maybe we'll be OK!!!

Just for reference, our contract was submitted to Disney on 11/20 and they waived ROFR on 12/10. So hopefully you'll be hearing something soon. Good luck.

 

[Tracy0729]

We sent in our contract to disney on 11/24 passed rofr on 12/10 now my title co is telling me they are waiting for disney to send them paperwork I just want to get this going because I want to book a trip for Aug 17-24 2008. My home will be Old Key west we have 232 points per year. But this year we will have 464 all of 2007 and 2008 points we also have the extension that key west was offering to 2057. Our use year is june. Tracy

 

[dopeygirl76]

We just got an e-mail that we made it through - so ours went to Disney for ROFR 12/3 and we just received notice that they waived - only 8 days!!! WOW!!! I guess now it is a waiting game for the rest of it!!!Good Luck to all!!! We are just thrilled to be DVCers!!!

 

[DVC Mater]

Just got word today from Jason at the Timeshare Store that Disney is behind in their paperwork and we have a 3 week delay in our closing. This sure takes a long time. We started this months ago. The ROF was very quick but then a really slow process. Oh well, we really don't need the points right now. Our next trip is already booked with our current points. I am just going to bank these.

what point in the process are you? We have all paperwork in, and are just waiting for the final update from disney then we can close.

 

[Merilyn]

We are waiting for Disney to send the final paperwork to the Timeshare Store. I understand it could take several more weeks after we sign everything before we are finally closed. Just so long as we close in time to bank points in April-we have a Sept use year. Thanks goodness for the change in banking, we would never have finished all this by Feb. Or at least it would be close. For all those who wrote to my email, please remember your banking time line if you intend to bank points. You have to bank points by the 4 month mark before you use year date. Example-my use year is Sept so I have to bank my points by April 30 which is 4 months before Aug 31. At least that is what I am hearing. I hope to bank the early part of April to be on the safe side of the date thing. I believe it is months not days, so days in each month don't matter.

I hope all of you get your closing completed and I hope mine is quick also!!

Have a Merry Christmas and a Happy New Year. AND to those of you new to DVC, I hope soon to WELCOME YOU HOME!
Merilyn

 

[mdorgan]

we got word of a delay today...passed ROFR on 11/2 and still waiting for final docs. we're in no hurry but this is a couple weeks longer than expected

 

[disneynutz]

The average resale closing is 60 days.

 

[nunzia]

The average resale closing is 60 days.

Is this after they get the final payment and documents??



Our timeline with GMAC:
Made Deposit on 10/30
Signed contracts and sent in on Oct 31
GMAC received and sent to ROFR on 11/6
Disney waived ROFR 11/14: waiting for estoppels
Got final paperwork 12/11, will send in check and papers today..then....?????

...they also included our 2008 dues in the closing costs..is this normal?

 

[disneynutz]

Is this after they get the final payment and documents??



Our timeline with GMAC:
Made Deposit on 10/30
Signed contracts and sent in on Oct 31
GMAC received and sent to ROFR on 11/6
Disney waived ROFR 11/14: waiting for estoppels
Got final paperwork 12/11, will send in check and papers today..then....?????

...they also included our 2008 dues in the closing costs..is this normal?

No, 60 days from start to finish if the seller is timely. We closed on 150 BWV last Thursday. The contract was added to the member website yesterday and the points showed up this afternoon. 2008 dues will be billed in 3 more days anyway, so DVD requires that dues be collected in the closing costs. For 2009 you can set up a monthly auto payment that will stretch your dues payment over 12 months at no charge. Don't wait for DVC people to contact you. After you close, wait 3 days and call Member Services. They should be able to give you your membership info over the phone.