How long does it usually take for seller to sign initial contract?

[Fido Chuckwagon]

I just had an offer accepted this past Sunday on my first DVC purchase (via resale). I signed the contract immediately and put the required deposit into escrow. It was through one of the major DVC brokers. I’m 4 days later now and the seller still hasn’t signed the papers. Is this a normal delay? How long does this sort of thing usually take? I realize that there is nothing in the contract (at least that I can see) about how long the seller has to execute it.

 

[HappyThoughtsTees]

I've never had a seller take more than 2 days to return the initial contract. Is it an international seller?

 

[Fido Chuckwagon]

No, not international. Now I’m getting a little nervous. Wasn’t a huge contract either, nor was the price insane in either direction, 60 points of Poly at $155 per point.

 

[HappyThoughtsTees]

No, not international. Now I’m getting a little nervous. Wasn’t a huge contract either, nor was the price insane in either direction, 60 points of Poly at $155 per point.

I wouldn't stress about it just yet, maybe reach out to your broker for an update?

 

[kerrylacherry]

My sellers (also in the US) took two weeks to sign anything, so I used those weeks to bug the broker and closing agent to make sure they were keeping in touch with the seller. I sent "hey checking in to see if you've heard from the seller" emails every 4-5 days or so. Everyone's different, and I had to accept that they just weren't as motivated as I was to get things done quickly.

Good luck with everything

 

[Sandisw]

I think most sellers get things back within a week. There is nothing that requires them to do it in a certain timeframe, but as a buyer, you certainly can let the broker know a deadline.

 

[fordchevyguy]

Not sure if is standard but my purchase contract had a 7 or 8 day limit. I believe contract said if not signed by xx then contract is void.

 

[Fido Chuckwagon]

Ok, thanks. I sent an email to the broker just asking for an update.

 

[FinnFogg]

Just had an offer accepted this morning. Contract has now been fully executed by us and the seller, and has gone to the mouse.

 

[CookieandOatmeal]

I think we are working with motivated sellers as we agreed on the price in the morning and got the contract by the evening. Signed everything via docusign and paid the deposit to the title company. Contract was sent to ROFR the following day.

 

[PalDisFam]

The contract we signed gave the seller and buyer 7 days to sign. We agreed on a contract last Thursday and signed the same day. The seller didn't sign over the weekend so we followed up with our agent on Monday. No response from the seller. My wife found a better fit on Tuesday, we backed out of the original deal (contract was never executed) and agreed on a deal with the new seller. They signed and we executed the contract the same day. Lack of motivation cost the original seller a buyer. Luckily I told our agent we wouldn't give our deposit till we had an executed contract. If we had put a deposit down the first time, we'd still be waiting for the original seller.

 

[Fido Chuckwagon]

The contract we signed gave the seller and buyer 7 days to sign. We agreed on a contract last Thursday and signed the same day. The seller didn't sign over the weekend so we followed up with our agent on Monday. No response from the seller. My wife found a better fit on Tuesday, we backed out of the original deal (contract was never executed) and agreed on a deal with the new seller. They signed and we executed the contract the same day. Lack of motivation cost the original seller a buyer. Luckily I told our agent we wouldn't give our deposit till we had an executed contract. If we had put a deposit down the first time, we'd still be waiting for the original seller.

Yeah I guess I am stuck because I put the deposit down. Of course, I still want the contract. I guess I’ll give it some more time.

 

[Skywalker-77]

I had a similar situation on the contract I just bought where I had everything signed and turned back in within two days and a week went by with no word. Turned out the sellers didn't have a computer so all of the paperwork had to be mailed to them and then they had to mail it back. Good news was it only took about 2 weeks and for when their paperwork was returned and sent in to ROFR.

 

[sethschroeder]

Yeah I guess I am stuck because I put the deposit down. Of course, I still want the contract. I guess I’ll give it some more time.

I wouldn't think so. Just because you signed doesn't enact the contract both parties need to sign.

You likely can reach out and outline you are cancelling the contract prior to it being signed by the seller.

 

[Fido Chuckwagon]

Was updated by the broker that the seller just signed and the paperwork is going to Disney, so I am good to go. Thanks for the advice everyone!

 

[gisele2]

The first contract took 24 hours , the second more than a month ....