How fast?

[Ctsplaysinrain]

HI- I'm getting incredibly anxious. I bought a small resale contract but it's taking the sellers a long time to get their paperwork back..I sent my money and papers over a weeek ago and I was kinda expecting that we would have closed already and I would be close to being in system.. I want to use these points for a trip this July. I knew it would be close and I'm just hoping there is some availablility anywhere. We are very flexible and are willing to do split stays etc.. My original thought was I would do this small contract first and then probably add-on.. Anyway, since I'm getting so anxious, I'm thinking of just going ahead and calling DVC and buying through them now as well just so I can hurry up and get in system to even see if there is availability. So, my question is: how fast are you in the system if you buy directly from Disney? If I call today , am I in today or is there a few weeks wait as well.. I am really hoping the other will be finished soon but as I said I can hardly wait since I want to make reservations.... On the other hand, if there isnt any availablilty for my dates, I will more than likely not be using any points until next summer so I will have put out a fair amount of money that I could hold onto for a few months....

 

[JimMIA]

It's hard to answer your question without more info. Has your contract passed ROFR, and you are just waiting for the seller to complete the paperwork? If so, your deal should close pretty quickly. If that's the case, I'd call your broker and see if they can build a fire under the seller to finish the process.

Once you close, it usually takes 7-10 business days for you to be completely "in the system" and able to make reservations. Often, your account gets created one day and the points go in the next workday. Once that happens, you'll be able to make ressies.

If you haven't been through ROFR yet, you're probably looking at 6-8 weeks before you'll be able to make ressies.

 

[5forDiz]

I'm guessing the contract you're purchasing made it through ROFR & you are talking about seller signing off on final paperwork.....contact resale agent you are dealing with & see if they can motivate the seller to sign,etc. asap. Also, you need to discuss with agent what your $ loss may or may not be should you back out on this contract now (why lose $ if that in fact turns out to be what would happen ?). If you're just waiting on seller to sign off on final paperwork typically it runs about 10 - 15 business days ( give or take a fewdays in either direction ) for a resale contract to be "in the system" at DVC - approximately 5 days after your resale agent tells you contract is signed by seller & sent to Disney you can call MS to check and it can't hurt to mention to MS that you're hoping to get into the system asap so you can try for a July ressie; you never know...sometimes they can work some magic moving things along. You will probably have to be very flexible on the ressie like you've mentioned; that will better chance you can secure a reservation for July.

Cancelling this small resale contract may not be what you want to do because to buy direct through Disney as a first time buyer you will have to purchase minimum number of points required by Disney for new purchaser which I think is presently 160 points minimum purchase.

Best wishes & hope your resale is final real soon

 

[M5ward]

We just added on through The Timeshare Store. We mailed the final papers and check on May 6 and were notified that we had closed on May 13. They say it takes 7-10 days for Disney to recognize your ownership. At that point you can make reservations. I just keep checking my DVC account.

 

[Sandisw]

Buying through Disney will put you in the system quickly. If you have not officially closed on the resale when you call, you will not yet be a member and therefore, will have to buy at the new member minimum, typically 160.

Now, I have heard that they are still offering new members a chance to buy in at SSR for 100 points so it may be possible to get in with less.

If you call Disney and talk to a guide, you would probably be able to make a reservation within days. When I did an add on, my guide pushed things through so quickly that I could make a reservation with those points within hours.

Good luck!!

 

[sanbornangel]

I thought I was the only one waiting for the seller to sign docs. Disney waived ROFR on 5/5. We sent our check and final docs on 5/12 (we were on vaca at Boardwalk or they would have been sent 5/6). As of 5/18 still no signed docs from seller. We called the agent yesterday... I am also very anxious as I was hoping to have my points available by 5/25. I'm thinking...in this economy if you want to sell some property...and someone wants to buy it....SIGN THE PAPERWORK....my DH says I need to chill. This is just me venting.
update: seller owes $ on mortgage....cannot close until they have the funds..hopefully 6/3

 

[Ctsplaysinrain]

UPDATE" WOOHOO ,we closed today... I think I invoked murphy's law.. I got tired of waiting and after reading the post above about the June 3 date, I panicked and called DVC. I was talking to a guide about doing a "new" sale and got home and had the email...LOL.. This may work to my advantage since I am going to do an add-on as was originally planned and she is going to try and hurry along getting me into system....

 

[Pirate Jack]

UPDATE" WOOHOO ,we closed today... I think I invoked murphy's law.. I got tired of waiting and after reading the post above about the June 3 date, I panicked and called DVC. I was talking to a guide about doing a "new" sale and got home and had the email...LOL.. This may work to my advantage since I am going to do an add-on as was originally planned and she is going to try and hurry along getting me into system....

Congrats Ctsplaysinrain! Good for you!

Sanborangel, I feel your pain! I sent my docs and check in on May 12 also. I received the papers on May 11. I still have not yet received anything as well. Hoefully, we will be as lucky as Ctsplaysinrain.

 

[wdwnut]

Here's a little pixie dust to all. Here's my timeline from this last resale contract- offer made and accepted 4/15, sent for ROFR 4/16, passed beginning of May, mailed closing docs 5/12, closed 5/19, additional contract and points showed in our account 5/20. This happens when you have a motivated seller.

 

[Pirate Jack]

Congrats Ctsplaysinrain! Good for you!

Sanborangel, I feel your pain! I sent my docs and check in on May 12 also. I received the papers on May 11. I still have not yet received anything as well. Hopefully, we will be as lucky as Ctsplaysinrain.

I found out last night that the closing documents are mailed priority mail or fed ex to the sellers. They are not emailed to them like they are to the buyer. As previously mentioned, the sellers also have to have their signature notorized. Therefore, the 7-10 day wait .... or maybe longer. I am now at day 11 ..... wish me luck!