How long did your seller take? Closing docs....

[DannysMom]

So while I try to (im) patiently wait for closing .... I was wondering how long YOUR sellers took to return their closing documents. I know, I know, their paperwork needs to be notarized, and they probably have a life too, could even be on vacation, etc. But I'M WAITING.

My closing docs were emailed Friday July 27th. On Saturday I went to the bank got a cashiers check and sent the docs back in for delivery Tuesday afternoon. So far no word that the title co has anything back from the sellers. I am assuming they want my money. Come on already.

It also just feels wrong that the money is gone from my account and as yet I have nothing to show for it, not even word that the wheels of progress are slowly moving. I KNOW the money is safe in escrow, I just want things to be moving again.

So how long did your sellers take? Points for longer waits than mine.

 

[sparkhill]

Mine were emailed to the seller on 7/26 and I am still waiting... To add further insult, I cleared ROFR way back on 7/3 but the title company waited on the completed title search before sending out the closing documents; they said this is the most distressed DVC sale they have ever handled and felt it prudent to ensure the title was clean. In retrospect, I should have insisted that the seller's documents go out ASAP. I am guessing that, in this case, the seller was equally unreliable in paying their dues as they are in returning their paperwork.

My first seller only took a couple of days to return everything.

 

[DizBub]

Our sellers sent their paperwork back a full week after we returned ours. I was frantic but not bad considering the first contract we tried to close. With that one we waited an insane 69 days for them to return their closing documents. Can you tell we really wanted that one? We were forced to cancel that contract and start over.

On that failed contract they had our money that whole time. We had financed it and were making payments on it. When it was returned after cancellation we just put it in the bank and paid for the new contract with it months later. We literally made 4 payments on that $ with no points to use.

I'm sure you will be hearing any minute now.

 

[DannysMom]

Yeah I'd call 69 days insane too. o
If a wait hits 30 days it is time to call it quits I think.

My sellers had the contract back in just as quick as we did, I was hoping they'd be on the ball with the closing docs too. Hope they aren't having second thoughts now. :-/

 

[princessaloha]

Yeah I'd call 69 days insane too. o
If a wait hits 30 days it is time to call it quits I think.

My sellers had the contract back in just as quick as we did, I was hoping they'd be on the ball with the closing docs too. Hope they aren't having second thoughts now. :-/

If you look at the timeline I posted a few days ago it shows Offer to deed recording 77 days and Offer to receiving membership card as 93 days. In my mind I had 2 months of waiting so that extra 3rd month was painfully slow. It looks like you may beat me out for longer wait time. I'm sorry things are taking so long. Here's hoping that the rest of the process flies by at warp speed for you!

 

[JaimeA]

We received our closing docs on a Thursday, I sent it back on Monday(had to find time to go to the bank and it was painful taking that money out) Our sellers had theirs in on the following Friday. THe title company emailed me that they had just received the sellers paperwork and were going to closing that afternoon. 6 days later I booked my first trip!! You are almost there just breathe!!! Hopefully the title company will contact you later and say your closing is done!!

 

[DannysMom]

I hope so! I keep obsessively checking my email & I got nothing.

If no word by Friday (2 weeks from getting emailed docs) I will email the broker and title co. again.

 

[GrnMtnMan]

Here's my story from my December purchase. I wasn't happy with how long the process took nor the responsiveness of the professionals involved, but I've since learned that my story was pretty average.

- Day 0: Receive closing docs from title agent (passed DVC ROFR several days prior).

- Day 0: Call title agent and ask questions about wiring funds. Tell title agent that I will be wiring that day, and I do so.

- Day 1: neither title agent nor sales broker automatically verify that funds and documents were received....it took an email from me to find out.

- Day 1-2: have a question about timeline for closing and sales broker takes nearly 24 hours to respond. And the response is general and non-specific to my transaction.

- Day 3: I email title agent to ask same timeline question. Responds quickly, but just with general information (title company now has had my money for three days).

- Day 4: I email sales broker to have broker check-in with sellers. Learn at this point that, according to the title agent, sellers have been 'out-of-town' and will not be getting sales document notarized until Day 8. Note that the broker did not respond to this question.

- Day 8: At 1 PM email both title agent and sales broker to find out if sellers have sent documents. It took 24 hours and a second email from me to get a response (response is that sellers had mailed documents earlier that week). Another non-response from my broker

- Day 14: Email broker and title agent asking if sellers documents had been received. Learn from title agent at that sellers documents were received 3-4 days ago, but were not done properly and had to be re-done. Sales broker does not respond to any of the day's emails until well after business hours.

- Day 16: Email broker to get a status update...before she responds get an email from title agent that I've closed and the transaction is complete.

Day 17 was the latest closing date I agreed to in my contract.

Here are the related discussion threads: Sellers: Get to the Notary NOW!!!!! And Overnight those Docs!!! and Buying Resale: Small Broker or Professional Company?

 

[GOOFY D]

Here's my story from my December purchase. I wasn't happy with how long the process took nor the responsiveness of the professionals involved, but I've since learned that my story was pretty average.


Here are the related discussion threads: Sellers: Get to the Notary NOW!!!!! And Overnight those Docs!!! and Buying Resale: Small Broker or Professional Company?

Which companies were these? It would be nice to know who is doing things well and who is not when deciding who to use.

 

[disneynutz]

Sellers have to go before a Notary and two witnesses. All owners must be there together, could be two, three or more owners with different work schedules and days off.

Bill

 

[GrnMtnMan]

Which companies were these? It would be nice to know who is doing things well and who is not when deciding who to use.

Sent a PM.

Given that I've learned that my experience was pretty typical, I'm not comfortable 'bashing' them publicly.

 

[GrnMtnMan]

Sellers have to go before a Notary and two witnesses. All owners must be there together, could be two, three or more owners with different work schedules and days off.

Bill

Does Orange County or Florida require the witnesses for real estate sales or something?

I ask because when I sold my home in 2010, my real estate broker had a standard power of attorney form that allowed just one of us to execute the sale. The POA form had to be notarized, but that part didn't require witnesses and we did it at our convenience. I went alone to the closing and signed for my wife.

 

[disneynutz]

Does Orange County or Florida require the witnesses for real estate sales or something?

I ask because when I sold my home in 2010, my real estate broker had a standard power of attorney form that allowed just one of us to execute the sale. The POA form had to be notarized, but that part didn't require witnesses and we did it at our convenience. I went alone to the closing and signed for my wife.

According to our DVC Escrow company, it's a Florida law.

Also the laws for resale are different than the laws a direct purchase because Disney is a Florida timeshare developer.

Bill

 

[Caren90]

Sellers have to go before a Notary and two witnesses. All owners must be there together, could be two, three or more owners with different work schedules and days off.

Bill

Not only that Bill, but throw in an ugly divorce settlement or a family dealing with an estate transaction and things get even more convoluted.

Stephen

 

[joelp]

So while I try to (im) patiently wait for closing .... My closing docs were emailed Friday July 27th. On Saturday I went to the bank got a cashiers check and sent the docs back in for delivery Tuesday afternoon. So far no word that the title co has anything back from the sellers. I am assuming they want my money. Come on already.

So how long did your sellers take? Points for longer waits than mine.

Looks like you and I are on almost exactly the same timeline ...

I'm thinking the sellers are on vacation ...

 

[wdwfreak]

We got our documents on July 3rd, FedExed them back on July 5th. In fact, we were instructed by the titel compnay to "return the documents as soon as possible." Got word from the title company that seller finally returned their documents this past Tuesday (Auguat 7th) a full month after we did. It worried us that it took so long, as we sent in a substantial cashier's check that was just sitting there.

What burns me even more is the fact that we paid the seller dues for July and August and we STILL don't officially own the property.

 

[DougEMG]

My experience has been that sellers nearly always take longer than buyers to get their closing documents in. Has always surprised me since you would think they want their money as fast as possible.

 

[DannysMom]

And we have closed!!!!!! Whoo Hoooo!! Just got the email that Disney has been notified of our ownership.

So hopefully by the end of NEXT week I will be set up and can start checking availability to try & get some ressies in.

 

[Missyrose]

And we have closed!!!!!! Whoo Hoooo!! Just got the email that Disney has been notified of our ownership.

So hopefully by the end of NEXT week I will be set up and can start checking availability to try & get some ressies in.

Congrats! The waiting is almost over!

 

[duckygirl]

And we have closed!!!!!! Whoo Hoooo!! Just got the email that Disney has been notified of our ownership.

So hopefully by the end of NEXT week I will be set up and can start checking availability to try & get some ressies in.

Congrats! We closed yesterday!