DVC Resale Contract Cannot close until November...process?

[€lairebear]

Hello,
I have my eye on a DVC resale contract but there is a note on the listing that says the contract cannot close until November. Has anyone gone through this process before? Is there a deposit that you have to put down until you can close? Any insight would be great! Thanks!

I did one just this past November. I made an offer in a contract in sept or October that could not be closed until after 12/30. There’s some pros and cons. If you’re not needing the points now then it to worry. The agent told me if I wanted to finance it it gives me ample time to shop around. The downside is if they seller backs out and that’s a crystal ball whether or not if they do. The chances of sellers backing out is not that often. Everything went smoothly for me the sellers sent back their closing docs fast it was sent rofr same day too. The hardest was waiting for the points to load. I would also note with delayed closings the chances of Disney taking back the contract is slim. They tend to pass contracts that have delayed closing based on what I have noticed so far.

 

[Sandisw]

The fact that you haven’t heard of it doesn’t mean it hasn’t happened. In fact last year there was a stretch where Disney was consistently going past the 30 days that it gave rise to the discussion these boards to start forcing the closing companies to put a closing date only 30 days out to force Disney’s hand. I had a contract taken last year after about 60 days. So it definitely happens.

Well, I have been involved in 3 of them, and all passed well within the 30 days. Last one was 2 1/2 years ago and it passed in 10 days..

. Not saying it never happens, but based on my own personal experience, having a delayed closing did not delay ROFR.

 

[Future_WorldPhonencian]

Thanks yall for resurrecting this thread on my behalf. I really appreciate it.

 

[hlhlaw07]

Well, I have been involved in 3 of them, and all passed well within the 30 days. Last one was 2 1/2 years ago and it passed in 10 days..

. Not saying it never happens, but based on my own personal experience, having a delayed closing did not delay ROFR.

I also have just closed on a delayed closing contract and did not have to wait for Disney to decide on ROFR. But I only chimed in to clarify that it is a possibility. You stated you had never heard of Disney taking longer than 30 days so it was highly unlikely. I just wanted the poster to know that last year disney went past the 30 days quite frequently and started telling the brokers they had until closing. And those were just on regular contracts that did not have a delayed closing. Disney backed away from that and has settled back into a faster ROFR, but at any time the terms of the contract would allow them to take their sweet time. It is something for someone who is weighing the pros and cons of a delayed closing to consider.

 

[badeacon]

I am getting ready to close on a PVB contract which passed ROFR with Disney last July, but seller could not close until Feb.2020. I bought this because it was a stripped contract with price about 20 dollars less than average selling price at that time. I also could not use the points until 2021as already had several trips planned and booked in 2020. It made sense for me to go ahead and buy as also no maintenance fees until 2021. Now awaiting final docs from Timeshare Store.

 

[RoseGold]

I wouldn't do this unless you can do it with no deposit.

 

[Disneytrippin']

I'm once again resurrecting the thread. So, I have a contract in ROFR right now with a delayed closing of Sept. 28. From what I'm hearing I should expect documents 30 days before closing to sign and send final payment?