Does financing a resale make closing take longer?

[AlwaysEeyore]

We are buying a resale at BWV. We signed all our documents and overnighted them on 5/16. I got a packet yesterday from the bank that needed our signatures and it said the money would not be disbursed til 6/7. We should close on or before 6/14. If all the documents are in before then does that mean I have to wait till 6/7 to close?

Thanks!

 

[Anthony1971]

I suppose you are buying a resale and financing through a suggested bank?
You will not close until after your agent recieves the money then a date will be set that is why you have a 7 day gap. The sellers will not transfer until they recieve the money so in this case yes.
You can get financing on your own this may speed things up if it were a personal loan or a home equity loan or?? and you had it prepared prior to finding a timeshare you could send the funds when you recived them. If you finance and buy through Disney your aproavl will be included with all the documents and you will have your points as soon as you send them back.
You will also have a wait between closing and having your points through resale as the papers still need to be filed with Disney.
There are many variables with your question but in your case the answer is yes.

 

[AlwaysEeyore]

Thank you. I wish I would have thought of that before hand this waiting is driving me nuts.