estopple process

[kbvette]

I was just wondering how long the estopple process typically takes. We have been waiting for the past 2 weeks.
Thanks

 

[Laxmom]

I think roughly another week. We purchased on HHI which makes things a little different. We have to add an attorney to the mix.

 

[KAT4DISNEY]

We just received notice last night that we were completed with the estoppel - ours began on April 1st so almost 3 and 1/2 weeks.

 

[Laxmom]

There's a group of us that has decided that there is a reason that there is the word STOP in eSTOPple!!

 

[minniekissedme]

I was just wondering how long the estopple process typically takes. We have been waiting for the past 2 weeks.
Thanks

are you having fun yet??? Ours was about 2.5 weeks.

 

[KAT4DISNEY]

There's a group of us that has decided that there is a reason that there is the word STOP in eSTOPple!!

No Kidding!!!!! I only had 9 days for ROFR - that was the easy one! I figured I was going to breeze thru the process in record time, then I was eSTOPplefied!

 

[colonialtinker]

I was like you and ROFR went by really fast. It took 3 weeks to find out about estopple, late last night. You should come over to the thread Laxmom mentioned. We have a lot of fun and it does help knowing the different stages of buying a resale. The thread is Waiting for ROFR support group. Hope to see you there

 

[*KeepMovingForward*]

We had a 2nd contract that we used TTS for. We put our contract in on 3/30 and got notice that we passed ROFR on 4/4. We are still waiting on the estoppel. Somehow, we thought that because this was a cash deal it would go quicker, but apparently it makes no difference. We're holding our breath just anxiously waiting to close the deal. We're keeping our fingers crossed that we hear something this week. Made me wonder why folks agonize over ROFR...that happened way quick for us. Its the estoppel that will kill you with the wait.

 

[Laxmom]

I totally agree!!!!

 

[Buckeye Fan]

There's a group of us that has decided that there is a reason that there is the word STOP in eSTOPple!!

That's pretty clever!!!

We had a 2nd contract that we used TTS for. We put our contract in on 3/30 and got notice that we passed ROFR on 4/4.

That has to be close to a record!!! WOW. How awesome to not have to agonize. All 3 of our contracts took about 2 weeks before we heard back!

As for the estopples, I just looked the information up for a previous post. Our first 2 contracts passed ROFR on 1/31 and the estopples came back on 2/17. This time around, we passed ROFR on 3/27 and our estopple came back on 4/21. Took a good bit longer. I am SO glad I understood the process and had been through it before. Otherwise, I'd be DYING right now!!!

 

[icouldlivethere]

The ROFR process took 10 days for us and the estoppel process took 25 days.

 

[*KeepMovingForward*]

That has to be close to a record!!! WOW. How awesome to not have to agonize. All 3 of our contracts took about 2 weeks before we heard back! !!!

I'd be happier if the ROFR went slowly and the estoppel process was speedier. At least I had been prepared for a long wait with ROFR, so when that went by in a blink, I guess I got my hopes up for a very quick closing. Whoever said patience is a virtue didn't have to suffer through the estoppel process!

 

[Buckeye Fan]

Whoever said patience is a virtue didn't have to suffer through the estoppel process!

I hear you!!! I am so excited to close on my VB contract, which makes little sense. First, I've never been to the resort (gotta love buying sight unseen)! Second, since we already had Daytona Beach/WDW trip planned for this August, we're banking 2007 points. I shouldn't care about when anything happens (as long as it happens by the end of July so I can still bank), but I do!

 

[FLYNZ4]

Beach/WDW trip planned for this August, we're banking 2007 points. I shouldn't care about when anything happens (as long as it happens by the end of July so I can still bank), but I do!

I am curious... can you request that the seller pre-bank the points as a condition of sale?

/Jim

 

[Laxmom]

You should be ok, Buckeyfan, but I have heard of Disney being lenient with the banking deadline by allowing you to bank once your points are in the system. Once into estopple, the seller cannot touch the points. That would really mess things up. I know of someone that had a contract accepted, passed ROFR, and when they got to estopple, it was discovered that the sellers had made a reservation with points that were supposed to be part of the sale. Disney would not let the sale go thru.

 

[WilsonFlyer]

OK. I'll bite. what is the "estopple" process? I'm probably gonna feel REALLY stupid when I see the answer but as a new owner, I gotta ask.

Thanks.

 

[colonialtinker]

OK. I'll bite. what is the "estopple" process? I'm probably gonna feel REALLY stupid when I see the answer but as a new owner, I gotta ask.

Thanks.

Estopple is where Disney checks to make sure the seller doesn't have any problems with the contract they are selling. Disney has found some sellers that had trips planned with points they are selling. Basically its like a title search on points. At least that was the way it was explained to me when I asked my agent. Someone else may be able to explain it better then me, hope this helps a little

 

[Laxmom]

It is the step after ROFR when buying resale. It is when all the details of the contract are verified. I don't know the official definition but the points would be "frozen" until the sale is completed. I believe Disney does this and then returns the paperwork to your closing agent. It is the longest part of the process; to go from ROFR to closing.

 

[WilsonFlyer]

Gotcha folks and thanks. I don't feel quite as stupid for not knowing as I thought I would and at least now I know more of the lingo.

 

[Buckeye Fan]

I am curious... can you request that the seller pre-bank the points as a condition of sale?

/Jim

Yes, you can, if it's really early in the process. When we bought our SSR points (2 different contracts, 2 different sellers), we were running up against the 100% banking window. When we made the offer and the contract was accepted by the buyers, we asked both sellers to bank and they did.

You should be ok, Buckeyfan, but I have heard of Disney being lenient with the banking deadline by allowing you to bank once your points are in the system. Once into estopple, the seller cannot touch the points. That would really mess things up. I know of someone that had a contract accepted, passed ROFR, and when they got to estopple, it was discovered that the sellers had made a reservation with points that were supposed to be part of the sale. Disney would not let the sale go thru.

Yes, we'll be good. I have till the end of July to bank and our estoppel is already back. So worst case scenario, we should be in the system sometime in June.

I saw a question regarding what an estoppel was, and based on what I was told, it's basically where Disney makes sure that what the seller says is available is (banked points, current points, future points), there are no liens, and that the seller agrees to trasfer the property to the buyer with no recourse. From my standpoint, it seems like the last step in dotting the I's and crossing the T's.