How long do you give sellers to sign?

[Wanna be Ariel]

Great. I certainly hope that does not happen, we just passed rofr Tues. The broker emailed saying it is in estoppel and that could take 2 weeks. If it is a divorce I will probably not know until the closing docs are being prepared? Wondering if I need to email them to see if there see any issues that could delay this. Wonder if it would be the title co or broker that would know?

I wish I asked that question too. I put in yet another call to the broker to find out what is going on. If she ever calls back I am going to ask about a divorce being the issue. I want this contract so bad. It's killing me.

 

[Bruin_mouse]

I am just heartbroken since we were trying to get a August trip booked with these points.

I am sorry that you are having difficulties with your sellers. Respectfully, as I posted in another thread (and will shamelessly almost verbatim copy and paste here) this may be a blessing in disguise.

DVC's value is in trips that are booked 7+ months out. If you can make a trip inside that work great, but the default mindset should be trips that are 7 months or more out.

Also, rushing to purchase a resale DVC just to possibly be able to book for a trip in August (besides being almost impossible) could lead to a decision you regret. I understand the notion of wanting to put your trip money towards DVC instead of a hotel/rental, but I'd focus on going next summer if that's what you're looking to do. If you're set on this summer, I'd look at renting (which will be very difficult at this stage, besides maybe SSR) or a hotel.

UPDATE: Just stalked the RAT for fun (yeah I'm a pretty wild and crazy dude).There's actually great availability (as long as you're flexible on room type and exact dates) at OKW, BWV, BRV, and AKV (and of course SSR) in August. You should definitely put in a rental request if you're set on going in August.

 

[Wanna be Ariel]

I am sorry that you are having difficulties with your sellers. Respectfully, as I posted in another thread (and will shamelessly almost verbatim copy and paste here) this may be a blessing in disguise.

DVC's value is in trips that are booked 7+ months out. If you can make a trip inside that work great, but the default mindset should be trips that are 7 months or more out.

Also, rushing to purchase a resale DVC just to possibly be able to book for a trip in August (besides being almost impossible) could lead to a decision you regret. I understand the notion of wanting to put your trip money towards DVC instead of a hotel/rental, but I'd focus on going next summer if that's what you're looking to do. If you're set on this summer, I'd look at renting (which will be very difficult at this stage, besides maybe SSR) or a hotel.

UPDATE: Just stalked the RAT for fun (yeah I'm a pretty wild and crazy dude).There's actually great availability (as long as you're flexible on room type and exact dates) at OKW, BWV, BRV, and AKV (and of course SSR) in August. You should definitely put in a rental request if you're set on going in August.

We actually currently own dvc at the Poly. Just out of points and really don’t want to borrow. So it really was not a rush to buy in for a trip. We had all intentions of taking the year off of Disney but decided to buy more points and then try to take a late summer trip. We plan most trips 11 months out for sure.
I’m more upset with the fact the seller is not responding to anyone and has two contracts out there pending. Why even sell and go through all of this.

 

[Matty B13]

Great. I certainly hope that does not happen, we just passed rofr Tues. The broker emailed saying it is in estoppel and that could take 2 weeks. If it is a divorce I will probably not know until the closing docs are being prepared? Wondering if I need to email them to see if there see any issues that could delay this. Wonder if it would be the title co or broker that would know?

If they already signed the contract and you passed ROFR, you might be in the clear, cause only the closing documents need to be signed.

One issue that might come up with estoppel, however, is the points might not be what the contract stipulates which would cause a delay.

Good luck, most resale contracts have no problems but can take a little long than the most recent timeframe. Our first contract took close to 4 months to close, because the sellers had a trip planned.

 

[MTOB88]

If they already signed the contract and you passed ROFR, you might be in the clear, cause only the closing documents need to be signed.

One issue that might come up with estoppel, however, is the points might not be what the contract stipulates which would cause a delay.

Good luck, most resale contracts have no problems but can take a little long than the most recent timeframe. Our first contract took close to 4 months to close, because the sellers had a trip planned.

Fingers crossed this one goes smooth. If not we book where we can once it does close. ROFR has passed that is the main hurdle. Hopefully. Lol I work with mortgages so I know never to celebrate until you have the keys in your hand. Ha!

 

[TexasChick123]

To answer your original question, I would probably give sellers 3-4 days max to sign. Sometimes people are on vacation, busy with work, etc. However, when you list something for sale, I would expect you to be somewhat accessible, at least to the agent, and available to transact the business. If they can't get their act together by 3-4 days, I anticipate problems down the road. I once gave someone a week because the agent told me she was quite a bit older, and guess what? The contract ended up falling apart because her adult children were booking reservations while we were waiting on ROFR that she refused to cancel even though it cancelled the sale. Lesson learned. If it doesn't feel right, walk away.

 

[MTOB88]

To answer your original question, I would probably give sellers 3-4 days max to sign. Sometimes people are on vacation, busy with work, etc. However, when you list something for sale, I would expect you to be somewhat accessible, at least to the agent, and available to transact the business. If they can't get their act together by 3-4 days, I anticipate problems down the road. I once gave someone a week because the agent told me she was quite a bit older, and guess what? The contract ended up falling apart because her adult children were booking reservations while we were waiting on ROFR that she refused to cancel even though it cancelled the sale. Lesson learned. If it doesn't feel right, walk away.

Ugh sorry to hear that happened. We returned our signed closing docs Wed. The title company emailed and said they are waiting on sellers before we can move forward. Ugh. So we are not out of the woods yet.

 

[TexasChick123]

Ugh sorry to hear that happened. We returned our signed closing docs Wed. The title company emailed and said they are waiting on sellers before we can move forward. Ugh. So we are not out of the woods yet.

Signing of the actual closing docs takes quite a bit more for the sellers since they have to get them notarized. I was referring to the initial contract. As far as the closing docs, I think the quickest I ever had sellers sign and return was maybe a week. The longest was over 2 months. Never did find out what was going on there.