How long does the entire process take for resale purchase?

[MemphisTN]

We made an offer on a resale for BWV on Friday. The buyer accepted and we received all the paperwork to sign and fill out via email. We completed it and FedEx'd it all back to the TSS for Monday morning delivery.

My question is how long does the process usually take until it passes ROFR and we can actually make a reservation. What are the steps in the process and how long does each typically take?

thank you for your input

 

[DJmommy]

Hello,

Good luck on the BWV purchase. We just purchased at BWV via resale this year. I can give you a timeline of how long everything took for us and hope yours goes just as smoothly.

Feb. 19: Put bid on contract. Contract signed by us & sent back right away.

Feb. 22: Contract sent to Disney for ROFR.

March 5: We were notified that Disney waived their ROFR.

March 28: Received our closing documents via e-mail. We mailed back with a cashier's check the next day.

April 2: Our contract was closed on and Disney was notified of the transfer.

April 11: Called DVC member services and made our first reservation. (We were told that we would probably be in the system 10 days after closing and we were.)

We were lucky, I think, to close exactly 6 weeks after our offer was accepted. We had great sellers who were as timely as we were in returning all the documents, so I am thankful to them, TTS and Timeshare Closing Services for ensuring everything went smoothly.

Good luck, neighbor!

Jacqueline

 

[HockeyKat]

We were about the same as the above poster, also BWV through TTS.

Paperwork received Feb 6, passed ROFR Feb 14, closed Mar 25, made first ressie Apr 2. About 7.5 weeks from beginning to end.

So worth the 2K in savings and the banked points!! Plus we were lucky enough to get a 1-bed at VWL for May 13-16.

 

[MemphisTN]

HockeyKat. I feel like we found a good one also. We are getting 76 2005 points, 150 2006 and another 150 in December 2007. We are planning a trip in October so we have time to plan, but I am anxious to get this over with so the points are ours.

thanks

 

[HockeyKat]

That sounds like a great contract... hopefully we will all be welcoming you home very soon!

 

[Coach81]

So far we are looking at around 10 days from submit to ROFR. That is how long it took for out last attempt. We should hear something as soon as tomorrow on our latest contract.

 

[bababear_50]

just a little pixie dust for you Coach81

 

[vwlvette]

Our contract at VWL took about 6 weeks also, we purchased from atimeshare. TTS has a great reputation I am sure they can give you all the answers as to the current pace of closings.
Hope to welcome you home soon. We too purchased 300 2006 points, really made the deal very sweet. the worst part is waiting for the ROFR.
Nick

 

[snappy]

3/8/07 first contact with TSS
? made offer for contract
3/15/07 signed purchase contract
3/16/07 contract sent to Disney for ROFR
3/30/07 notified we passed ROFR
4/20/07 received closing documents

? closing
? able to make reservations

 

[squidmo]

03/15/07- Contacted TTS
03/16/07- Signed Purchase agreement
03/17/07- Submitted to ROFR
03/26/07- Passed ROFR
04/11/07- Received closing documents
04/19/07- CLOSED!

I'll update when I confirm I'm in the Disney system

ps: snappy- I'm glad your closing docs finally came!

 

[PottersMom]

Feb 10th : submitted an offer ( remember because it was my birthday!)
Feb. 12th: Recieved teh documents from Int'l GMAC
Feb 14th: Sent back signed documents.
Feb 22nd: Documents sent to Disney for ROFR
Mar 9th: E-mailed agent asking about ROFR. Agent said she would call us as soon as they heard back from Disney, should be around mid- to end of the month.
March 19th: Went to WDW to celebrate 1st anniversary!
March 20 something: Called agent AGAIN asking about ROFR. Found out that we had already passed ROFR and the closing documents were sent to me via e-mail (into my junk folder because they were sent from the title company and nobody told me to LOOK for them!)
End of march to beginning of April: Arguing back and forth about when closing documents were sent, who sent them, if they were or were not recieved trying to get my questions answered but nobody is there when I am home then it was Easter weekend so the offices were closed (ahem - I should be making #!**$% reservations by now!!!)
April 10th: Faxed closing documents to title company
April 11th: Funds Transfered
April 20th: Still waiting for my "Thanks for doing business with Int'l. GMAC, please call us if you have any further questions or if we can help you with any real estate needs in the future" phone call. Still waiting for my " Just to let you know, you should recieve your title documents in about 8-10 weeks, but DVC should have you in their system in about 10 days so you can call them and make reservations, (or they call me? I don't know because nobody has told me) By the way Welcome Home" phone call. Thank god for the DIS at least I cn get some answers here.
So, just be prepared for a situation like this. And by the way, I was really ok with all of this,( except that she said she would call me when we passed ROFR and didn't) thinking that it was normal- until I read here that people who submitted their offers after me are already in the system and making reservations.
P.S. I just called them back to see what is going on- we still aren't closed. Should be closed some time next week-.
anyway good luck to you!

 

[MemphisTN]

Thanks everyone for the information. We made an offer on 4/13 for a 150 point contract at BWV. It was sent to Disney for ROFR on 4/18. Hopefully we will hear something back in a week or two.

Pottersmom, I am sorry about the frustrating experience you are going through. Hopefully everything will be settled soon.