Final Walk-through Prior to Closing?

[beamreach]

On both the direct and resale side, I noticed I was not offered a final walk-through prior to closing. It seems prudent and customary for a walk-through to be preformed (or specifically waived) prior to closing on real estate. Thoughts?

 

[chalee94]

It ain't that kind of real estate

 

[Sandisw]

Walk through in what way? You mean a unit? Can't happen as other guests would be using it...and as mentioned, its not that type of real estate. It doesn't matter which exact unit you own, you are buying with the understanding that when you book and use your points, you will be put in any of the rooms in that category.

 

[Brian Noble]

Thoughts?

Honestly? My first thought was "That's not a half-bad troll post."

My second was what @chalee94 said.

 

[SleeplessInTO]

If you want to go take a tour of one of the open house units prior to signing your lease agreement, sure. Just be aware that your interest in Unit 11 of building C won’t be what you actually see, or stay at, in the future.

 

[beamreach]

It ain't that kind of real estate

I can pull up my DVC real estate on the Orange Country Comptroller website. I've never heard of buying real estate without an inspection. I'd be curious if anyone knows of other examples of real estate wherein a physical inspection (or even an inspection contingency) is not available. Why can't we look at the actual real estate we own?

 

[Where'sPiglet?]

On both the direct and resale side, I noticed I was not offered a final walk-through prior to closing. It seems prudent and customary for a walk-through to be preformed (or specifically waived) prior to closing on real estate. Thoughts?

I can pull up my DVC real estate on the Orange Country Comptroller website. I've never heard of buying real estate without an inspection. I'd be curious if anyone knows of other examples of real estate wherein a physical inspection (or even an inspection contingency) is not available. Why can't we look at the actual real estate we own?

You are able to visit the resort. However, the wording for DVC is something like “a deeded interest in” and you’re buying flexible points at that resort.

 

[beamreach]

You are able to visit the resort. However, the wording for DVC is something like “a deeded interest in” and you’re buying flexible points at that resort.

Mine says I own Disney's ***, Contract ***, Unit ** . . . and a percentage ownership

 

[Huskerpaul]

You should call member admin and tell them you would like to schedule your walk through and you would also like them to bring a copy of the building inspection report to ensure your new property is in good condition.

 

[Her Dotness]

Why can't we look at the actual real estate we own?

As pointed out above, it's because you don't buy Room 0000 in This Exact Disney Resort where you will stay every time you return to WDW.

DVC is not a standard timeshare.

You actually can buy a fixed calendar week each year for a studio, 1 bedroom, etc. villa in a particular resort for some DVC resorts. But, you still couldn't inspect the precise villa you'd stay in because it could easily be a different studio, 1br villa, etc. each year or stay if multiple stays per year.

Mine says I own Disney's ***, Contract ***, Unit ** . . . and a percentage ownership

Okay, you own a certain number of POINTS in Disney's <Specific Monorail Resort, for example>, Contract <document reference number>, Unit <number of points you bought specific to that resort>. The percentage is likely what proportion you own of that particular resort's total points.

I dunno. I'm guessing wildly. Correct me if I'm way off-track, please, someone smarter.

There is no "unit" as in a physical structure (room or villa) that is yours which you can be shown around in or can walk through to inspect.

And if our explanations don't suit, I suggest calling Member Services to discuss this further.

 

[Stargazer65]

Okay, you own a certain number of POINTS in Disney's <Specific Monorail Resort, for example>, Contract <document reference number>, Unit <number of points you bought specific to that resort>. The percentage is likely what proportion you own of that particular resort's total points.

I dunno. I'm guessing wildly. Correct me if I'm way off-track, please, someone smarter.

There is no "unit" as in a physical structure (room or villa) that is yours which you can be shown around in or can walk through to inspect.

I think you're right.
The points for a contract have to be assigned to a unit, but it's not like you own that unit like a traditional timeshare. If that unit disappeared into a black hole it would change the number of points available at the whole resort until they replaced the unit, but you don't lose your points in that black hole, they are still good anywhere in the resort.

 

[beamreach]

As pointed out above, it's because you don't buy Room 0000 in This Exact Disney Resort where you will stay every time you return to WDW.

DVC is not a standard timeshare.

You actually can buy a fixed calendar week each year for a studio, 1 bedroom, etc. villa in a particular resort for some DVC resorts. But, you still couldn't inspect the precise villa you'd stay in because it could easily be a different studio, 1br villa, etc. each year or stay if multiple stays per year.


Okay, you own a certain number of POINTS in Disney's <Specific Monorail Resort, for example>, Contract <document reference number>, Unit <number of points you bought specific to that resort>. The percentage is likely what proportion you own of that particular resort's total points.

I dunno. I'm guessing wildly. Correct me if I'm way off-track, please, someone smarter.

There is no "unit" as in a physical structure (room or villa) that is yours which you can be shown around in or can walk through to inspect.

And if our explanations don't suit, I suggest calling Member Services to discuss this further.

The units are actually listed on the declaration and plans. They are physical units and can be inspected. The units are numbered differently from the rooms, however. My question is why the owned real estate is not subject to inspection at the time of closing. I think this is quite an interesting real estate law query...I'm hoping one of our learnered colleages would be able to comment further. Thank you.

 

[Brian Noble]

Honestly? My first thought was "That's not a half-bad troll post."

My second was what @chalee94 said.

I guess we know which one it was.

 

[Her Dotness]

The units are actually listed on the declaration and plans. They are physical units and can be inspected. The units are numbered differently from the rooms, however.

Sure. You can go to the original Villas At the Grand Floridian building and to BigPine Key Lodge where the new resort studios are and probably wander about "inspecting" a 2 bedroom, maybe a 3 bedroom in the original building and a model resort studio in BPK.

Last fall, doors of a 2br and a 3br on the first floor of VGF 1 where our studio was were open during the day for guests to investigate, explore, "inspect"--whichever. Or, you could schedule a CM-guided tour through either.

We just snooped on our own in each. Snooped--my preferred term.

My question is why the owned real estate is not subject to inspection at the time of closing.

Second verse, same as the first: Discuss this concern with DVC Member Services. I'm done here.

 

[Sandisw]

I can pull up my DVC real estate on the Orange Country Comptroller website. I've never heard of buying real estate without an inspection. I'd be curious if anyone knows of other examples of real estate wherein a physical inspection (or even an inspection contingency) is not available. Why can't we look at the actual real estate we own?

Yes, you are given a deeded interest in a certain unit...that is true. But, the POS specifically states that you do not have any rights over the specific unit, but rather understand your ownership is part of the larger complex and that you will be given any unit or room when using your ownership.

You definitely can view a model at the resort that you own, but since a unit can be comprised of multiple rooms, there is no way to know specifically which exact room that is. For example, the first 101 rooms declared for BPK building with resort studios at VGF is Unit 4....all those rooms are part of that one unit. I have two contracts deeded there now and both say Unit 4. It means my ownership is part of any one of those 101 rooms.

 

[lowlight]

I guess we know which one it was.

If it's a half-decent troll, my guess is we get to page 3 before locking. Bad trolls get locked down in 1 page. Good trolls can go on forever. What's your guess?

 

[Brian Noble]

I try to avoid wagering.

 

[DonMacGregor]

I try to avoid wagering.

But with the over/under at 2…

 

[wnielsen1]

How about we just lock it now.

 

[Sandisw]

As long as the posts stay within the rules, there is no need or reason to lock this thread.