Hi
I’m think I’m ready to put an offer in.
What happens if offer is accepted and Disney don’t buy it back, when do I make payments.
Also is there any time that I can pull out if my circumstances change.
Thanks I just want to be ready with all funds before putting offer in
timeline, assuming you aren’t financing:
Make offer
1-3 days later Offer accepted
1-3 days letter contract sent to you and seller
1-30 days later contract signed and returned by all parties (but usually within 2-3 days
1-3 days later pay
non-refundable deposit to title agency
1-10 days later contract sent to Disney for ROFR
10-30 days later Disney waives ROFR
2-7 days later closing documents sent to buyer and seller
1-10 days later closing docs retuned by all parties
1-2 days later wire the rest of the money to title agency
1-10 days later formal closing
10-20 days later Disney opens a
DVC account for you
1-2 days later Disney loads your new contract and it’s points into your new account.
Typically the whole thing takes 45-60 days. But a lot of that depends on how fast people return contracts. Financing can add up to a week.
Separately,
Once you own you own. If you stop paying dues Disney will seize it from you at no compensation. If you don’t pay any loans you have against it the lien holder will seize it from you with no compensation.
If you ever can’t make the payments you can try to rent out some of the points, or sell the contract.
But if you think there’s a decent chance of that, probably just don’t buy the contract. There’s other ways to save big money at Walt Disney World.
