How Long does it take for a resale to go through???

[bom_noite]

I am ready to put a bid on a resale. Financing is no problem - And, I am even close enough I could go down to ORL to sign papers or whatever.

Start to finish, how long does the process take once bid accepted?

Thanks.

 

[disneyberry]

after you submit the bid, first the seller has to accept the bid.

if the seller wants to negotiate, then it will take longer.

once you agree on a price/terms, you sign the contract.

then the contract gets sent to Disney for ROFR review. Disney can take up to 30 days to give you/your broker the decision about whether they waive ROFR.

after that, you start the closing process.
that can take another month or so on average, but could drag out if the seller is not motivated to get the documents in on time, or if there are problems with the title search, or any other complications.

best case scenario 3 weeks from bid to close? i think that's rare though, so plan on 2 months from bid to close. then you might be pleasantly surprised when you close earlier.

 

[JOC]

It depends on how long Disney takes to exercise their Right of First Refusal (ROFR). Our answer from Disney came back in 10 days; some people have posted having to wait a month or more to hear back from Disney. It took us six weeks total (from bid being accepted to finally closing) only because our seller lives in Venezuela and it took him almost three weeks to get an appointment at the U.S. Embassy to get his paperwork notarized. All of the paperwork on our end was done via e-mail and fax; very simple.

 

[WDWCRAZY32]

I just bought an OKW resale, made an offer on 2/28 and made a reservation on 4/14. Approx 6 weeks for the whole process.

Good Luck

 

[Disney Doll]

It took about 6-8 weeks. I think we started in early November and were done by early January.

 

[DVC-Don]

Last summer our OKW resale purchase took 6 weeks. 3 weeks was just DVC reviewing it.

 

[bbowers]

We made an offer March 24 (at about 8 pm) and it was accepted yet that night. Exactly 2 weeks later (April 7), we got word that is was approved by Disney. I received my final paperwork (after the title search) on the 16th and wired my money on the 17th.

Our closing date is set for the 24th AT THE LATEST, but since I've got all my stuff done, I can't imagine why it won't be sooner (and Jaki assured me it will be if everyone has their stuff in). I did pay an extra $25 to have the paperwork overnighted to Disney to speed up the process so I can make my first reservation.

So - actually closing the sale will be one month, tops.