how long to be in DVC system thru resale?

[sznk]

have seen a few threads on this in the past, so for those interested:
09/25/07: offer made and accepted (thru Timeshare Store)
09/28: submitted to Disney for ROFR
10/08: passed ROFR
11/12: received Closing docs
11/15: our Closing docs & cashier's check received by TCS (closing co)

waiting for Seller's Closing docs to be received by TCS
should take ~ 2 biz days to Close after Seller's docs received by TCS (?)
then up to 10 days to be in the Disney system (?)

will update when Closed, then when in the system.

I'm guessing this is the typical resale time frame.

patience is a virtue, but I've never been all that virtuous...

 

[Mamadis]

We have a similar time line.

Passed ROFR 10/11, turned in the closing dcouments and sent a check 2 1/2 weeks ago and we're still waiting. We're anxious to close and get into the system so we can make our ressies for 7/08 before the 7 month window opens at our home resort. good luck with your closing.

 

[doubletrouble_vb]

On the seller end of things...submitted to ROFR 9/5 and finally got my check in the mail today 11/16/2007. It took a bit longer than I thought it would.

 

[DVC Mater]

This thread should be the waiting to pass closing thread. I am waiting for Disney to send the estoppels. I thought ROFR would be long, but the estoppel wait is killer. Here's my timeline so far with GMAC Jackie

10/23/07, made offer in the morning. Seller accepted midmorning. Contract emailed in the afternoon

10/24/07, faxed signed contract, sent to ROFR

11/2/07, passed ROFR

So Jackie said estoppels take 1-2 weeks, but it looks more like a month. I was gonna try for F&W next year but its prob all sold out by the time we close.

 

[doubletrouble_vb]

DVCMater...

It took more than 3 weeks and maybe almost 4 to get the final documents back to me after ROFR (I don't know my exact ROFR date). Then another 3 after that but two of those were due to the buyer being a touch slower than I was to return their copies. I can't really say how much of that wait was due to Disney or due to broker volume.

F&W won't be sold out by the time you close...remember you have 7 months plus one day to get the home resort advantage, not necessarily 11 months. October is 10.5 months away at this point. If you close in the next 3 months you'd probably still be good for space even if you want BCV.

 

[sznk]

11/2/07, passed ROFR
So Jackie said estoppels take 1-2 weeks, but it looks more like a month.

We were told from the beginning that estoppel info from Disney takes 3 to 6 weeks after passing ROFR, with typical time 4 to 5 weeks (ours was 5.)
So far we have found Timeshare Store (Jason) to be correct in their timing evaluation, and also very responsive.
pixie dust to us all!

 

[nunzia]

This thread should be the waiting to pass closing thread. I am waiting for Disney to send the estoppels. I thought ROFR would be long, but the estoppel wait is killer. Here's my timeline so far with GMAC Jackie

10/23/07, made offer in the morning. Seller accepted midmorning. Contract emailed in the afternoon

10/24/07, faxed signed contract, sent to ROFR

11/2/07, passed ROFR

So Jackie said estoppels take 1-2 weeks, but it looks more like a month. I was gonna try for F&W next year but its prob all sold out by the time we close.

I am also waiting for the estoppels. The initial contract and ROFR went VERY fast. So we'll see how long this leg takes. Also with Jackie at GMAC. I'm not in any hurry really though, because my points don't come in until March 08 and I will bank them, so..no welcome home for me yet. We have a big family trip planned to DLR in May and then an Adventures by Disney in Jan 09, so it will be awhile.

 

[carver36]

Called on Sunday 11/9 had contract that afternoon faxed on monday sent dep on thursday will keep you posted

 

[kapeman]

I am also waiting for the estoppels. The initial contract and ROFR went VERY fast. So we'll see how long this leg takes.

Same here with us via the TimeShare Store.

Passed ROFR on 10-8 (only 7 days after submission!).

Got the closing docs on 11-12 and they were received at TTS on the 14th.

Now we wait as well...

Funny thing is, we won't be able to go until early Fall/late Summer, but I am dying to get in the system any way!

 

[MBELSANTI]

Here is my miserable timeline:

Made and accepted offer 9/14
Sent docs and deposit 9/15
sent to Disney for ROFR 9/17
Passed ROFR 9/26
Closing Docs 10/15 - sent payment and docs to be recd 10/17
Told the sellers didnt notorize the deed-problem was fixed and was told would close by 11/09 which is closing date in contract
Recd email on 11/07 saying I was closed and would be in system to make ressie on 11/16
Emailed and then called TSS 11/17 and they are saying I am not closed yet!!!!

 

[Mamadis]

We are still waiting on the sellers to turn in their documents. Are their documents more complicated than the buyers?(Because ours were very simple to fill out.)The wait is driving me crazy. Does anyone know how long it takes to get into the system after closing? We would like to add on AKV through Disney after we get into the system and want to be able to take advantage of the current incentives. Also,we're anxious to make a reservation for next summer before the 7 month window opens. Thanks.

 

[Deb & Bill]

The selling documents are not that difficult. In our case, the buyer of one of our contracts didn't submit their closing documents and check for at least a week or two after we sent ours back. I had expected to close in Oct and didn't close until early Nov. Then it took nearly two weeks to get our checks.

But on the DVC website, my two contracts are gone. I didn't see anything yet on the Orange County Comptroller's website.

 

[sznk]

We are still waiting on the sellers to turn in their documents. Are their documents more complicated than the buyers?(Because ours were very simple to fill out.)The wait is driving me crazy. Does anyone know how long it takes to get into the system after closing? We would like to add on AKV through Disney after we get into the system and want to be able to take advantage of the current incentives. Also,we're anxious to make a reservation for next summer before the 7 month window opens. Thanks.

The Sellers have to get their Closing docs notarized, so that may cause a delay. I presume most Sellers try to expedite the process, since the money transfer can't occur until after Closing.
We were told by our contact person at TCS (Closing company) that after Buyers' and Sellers' Closing docs are received (and were correctly prepared) the Closing should take ~ 2 business days. That sounds pretty quick - we'll see ...

 

[sznk]

How ironic of me to mention the need for notarizing of the Sellers' Closing docs. I was told by the Closing company today that the Sellers not only took 9 days to return their docs, they didn't get the Deed notarized. Now they have to get it notarized and send it again.
The Closing date on the contract is 11/21/07 but that's obviously not going to happen. If they take another 9 days to send the Deed, I will be most unhappy. Even if they send it sooner, the Closing company doesn't reopen until Monday. If timing is everything, I'm in trouble!
I know this happens to other folks, too. I think that if I were the Seller I would be anxious to return my documents quickly (and with the correct signatures) so I could get my $.

Now I see why people pay more to buy thru Disney and avoid some of these headaches.

just had to vent...

 

[Mamadis]

I feel your pain. Our cashier's check has been at the closing office for a couple of weeks now. I would not have sent it at that time had I known the sellers were going to take so long. I should have kept it in the bank and gotten this month's interest. Thanks for letting me vent too.

 

[nunzia]

How ironic of me to mention the need for notarizing of the Sellers' Closing docs. I was told by the Closing company today that the Sellers not only took 9 days to return their docs, they didn't get the Deed notarized. Now they have to get it notarized and send it again.
The Closing date on the contract is 11/21/07 but that's obviously not going to happen. If they take another 9 days to send the Deed, I will be most unhappy. Even if they send it sooner, the Closing company doesn't reopen until Monday. If timing is everything, I'm in trouble!
I know this happens to other folks, too. I think that if I were the Seller I would be anxious to return my documents quickly (and with the correct signatures) so I could get my $.

Now I see why people pay more to buy thru Disney and avoid some of these headaches.

just had to vent...

I'm sorry you're having all these problems. My main goal for closing quickly is to be able to get in the DVC Members site (course it seems that is a big challenge), but I can understand why those who want to book soon are sweating it. I intend to do all other purchases with Disney directly.

 

[wishicouldgomoreofte]

Offer made and accepted Sept. 30 (thru Timeshare Store)
Passed ROFR Oct. 12.
Still waiting for estoppels from Disney.
Contract states it must close by or before November 26.
It won't, since estoppels still haven't been received, and the closer is out of the office unitl November 27.
What happens Next?

 

[MBELSANTI]

How ironic of me to mention the need for notarizing of the Sellers' Closing docs. I was told by the Closing company today that the Sellers not only took 9 days to return their docs, they didn't get the Deed notarized. Now they have to get it notarized and send it again.
The Closing date on the contract is 11/21/07 but that's obviously not going to happen. If they take another 9 days to send the Deed, I will be most unhappy. Even if they send it sooner, the Closing company doesn't reopen until Monday. If timing is everything, I'm in trouble!
I know this happens to other folks, too. I think that if I were the Seller I would be anxious to return my documents quickly (and with the correct signatures) so I could get my $.

Now I see why people pay more to buy thru Disney and avoid some of these headaches.

just had to vent...

I know exactly how you feel. My contract said the closing date is on or before 11/09. Today is 11/21 and still not closed due to seller's not notarizing the deed. What the heck is up with that? Both of the resales I bought have been delayed because of this, although I finally closed my first contract at the end of October. What makes me mad is that when I recd my docs, I had a date that I needed to return them by, which I did. I guess the seller's are exempt from that? They just sent the corrected docs last Friday by 2nd day. Ha, I guess they are in no hurry.

 

[sznk]

Offer made and accepted Sept. 30 (thru Timeshare Store)
Passed ROFR Oct. 12.
Still waiting for estoppels from Disney.
Contract states it must close by or before November 26.
It won't, since estoppels still haven't been received, and the closer is out of the office unitl November 27.
What happens Next?

Sounds like a long time to wait for estoppels.
After estoppels are received, the next wait is for all docs (completed correctly ) from Buyer and Seller, then the Closing should take 1 or 2 "business" days.

I'm having the same "out-of-the-office" problem with TCS - is that who you're using?
I don't understand how a Closing company can just stop doing business for 6 days.
imo that demonstrates casual business ethics at best.

 

[wishicouldgomoreofte]

Yes, I'm with TCS. That is who the TimeShare Store sent it to. I didn't have any say in it.
But that no one seems concerned about it is what I don't understand. Actually it's rather maddening.

So what do they do?
Rewrite the contract?
Start all over?
Now I am about ready to just get my deposit back and scrap the whole deal.

Any wise advice out there?