Foreign sellers

[jnamadison]

We bought from Foreign Sellers as well. Our closing ended up going past the close by date, but we waited it out based on the contract being exactly what we wanted. I'd say the sellers being foreign added about 3-4 weeks just based on the need for a US Embassy visit. Unfortunately, we got our closing docs right around the Holidays and the Embassy was closed for such appointments. But the seller/broker kept us updated with things and we got the deal done eventually.

There could always be issues with closing, whether foreign or domestic. For us, the extra time will be forgotten over the next 40 years of wonderful memories.

 

[dsneygirl]

We are in Canada and bought from a family in Japan. Took about the same time that our first transaction was. approx. 65 days. No issues. As others have said it depends on who is selling.

We are in Canada and bought our 2nd contract from a UK family. I don't remember it taking any longer or any more difficult than the first.

 

[Kimly]

We bought ours from a Canadian bankruptcy, and closed just under 60 days. That was one of the worst cases, foreign seller and a bankruptcy and just as quick as an "easy" sell.

 

[Lakegirl]

We bought ours from a Canadian bankruptcy, and closed just under 60 days. That was one of the worst cases, foreign seller and a bankruptcy and just as quick as an "easy" sell.

Wow what kind of deal did you get???

 

[Kimly]

Wow what kind of deal did you get???

It wasn't too spectacular, but we got 200pts at SSR for $66 last summer almost fully loaded. It was missing 40pts from 2013 so 160, and full 2014+.

 

[mort1331]

It wasn't too spectacular, but we got 200pts at SSR for $66 last summer almost fully loaded. It was missing 40pts from 2013 so 160, and full 2014+.

thats still a good deal and last summer the dollar was still up,, congrats neighbour in the north and at SSR

 

[lawboy2001]

Can you clarify where I would right that time is of the essence?

I'm so sorry I didn't check back to see your reply. If you are dealing with a broker, you would get a purchase agreement written up and have a statement in the document that time is of the essence, and then followed (usually) by a date by which the contract must close. If the date passes, you can get out of the contract, so that should motivate the seller to do everything quickly.

 

[Lakegirl]

I'm so sorry I didn't check back to see your reply. If you are dealing with a broker, you would get a purchase agreement written up and have a statement in the document that time is of the essence, and then followed (usually) by a date by which the contract must close. If the date passes, you can get out of the contract, so that should motivate the seller to do everything quickly.

That is a great idea!!!

 

[Minniesgal]

I'm so sorry I didn't check back to see your reply. If you are dealing with a broker, you would get a purchase agreement written up and have a statement in the document that time is of the essence, and then followed (usually) by a date by which the contract must close. If the date passes, you can get out of the contract, so that should motivate the seller to do everything quickly.

In principal that is a very good idea. It isn't working at the moment though. We are selling some points. We have passed ROFR and are waiting on closing documents and it has taken so long the date in our contract has passed before we even receive closing docs. I don't know about you but I don't want to have to walk away from deals just because Disney is taking way longer than usual.