how long to be in DVC system thru resale?

[sznk]

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.

Deed signatures:
Since the deed signature issue seems to be a frequent occurrence, perhaps the Closing companies' instructions to Sellers are not specific enough. I think in my case the Deed was notarized, but not witnessed. Although this difference may be obvious to some, many Sellers apparently don't clearly see that witnesses and notary are both required. I don't blame the Sellers if this is not clearly stated to them. Maybe a Seller here on DISboards can tell us what instructions are given regarding Deed signatures.

Deadline date: I am told by my BIL (attorney) that if the Closing date passes due to the Sellers not being in compliance, the deal can be canceled by the Buyer, with the Buyer being refunded every penny given so far. The resellers aren't going to advertise this info, as it is a loss of a sale for them.

 

[sznk]

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?

It is my understanding that even tho Timeshare Store uses TCS, you can use another Closing company if you want to.
While I don't get a sense of urgency from TCS, I have better responses from my agent at Timeshare Store and he is trying to get this stuff fixed.
I would talk to my sales agent and express my concerns directly to them. If I found they weren't responsive enough, I would talk to the owner.

 

[wishicouldgomoreofte]

Deed signatures:
Since the deed signature issue seems to be a frequent occurrence, perhaps the Closing companies' instructions to Sellers are not specific enough. I think in my case the Deed was notarized, but not witnessed. Although this difference may be obvious to some, many Sellers apparently don't clearly see that witnesses and notary are both required. I don't blame the Sellers if this is not clearly stated to them. Maybe a Seller here on DISboards can tell us what instructions are given regarding Deed signatures.

Deadline date: I am told by my BIL (attorney) that if the Closing date passes due to the Sellers not being in compliance, the deal can be canceled by the Buyer, with the Buyer being refunded every penny given so far. The resellers aren't going to advertise this info, as it is a loss of a sale for them.

In my case it is not the sellers fault either, so it is not that THEY are not in compliance, but that the estoppel info hasn't arrived. No one's fault, but the contract date will pass nonetheless, so the contract then is what? Null and void? Can someone ask their attorney about that? I don't have one.

 

[sznk]

In my case it is not the sellers fault either, so it is not that THEY are not in compliance, but that the estoppel info hasn't arrived. No one's fault, but the contract date will pass nonetheless, so the contract then is what? Null and void? Can someone ask their attorney about that? I don't have one.

I'm guessing that an attorney could not offer advice to someone who wasn't their client (or at least a relative ).

I am not an attorney. I was told by another DVC Buyer that a delay by Disney is legally treated differently than a delay by the Buyer or Seller. I would talk to my sales agent for clarification. Even if they don't openly offer the info, I think if you ask them straight questions they have to give you an answer.

I'm trying to be patient, but it gets tough when you're waiting to book future stays.

 

[Mamadis]

We were told the same story and our closing agent will be out until next week too. Our seller still has not turned in the original documents(only faxed ones) and our closing date has passed. We sent in our check over three weeks ago. We had originally been sent an email saying they were anxious to close quickly so we sent our stuff in right away. Good luck. Hopoefully we'll all be able to close before December. Happy Thanksgiving.

 

[sznk]

Since nothing will happen on Closings for most of us till at least next Monday, I'm going to try to put it out of my mind until then, and enjoy Turkey Weekend. Good luck to all!

 

[sznk]

We were told the same story and our closing agent will be out until next week too. Our seller still has not turned in the original documents(only faxed ones) and our closing date has passed. We sent in our check over three weeks ago. We had originally been sent an email saying they were anxious to close quickly so we sent our stuff in right away. Good luck. Hopoefully we'll all be able to close before December. Happy Thanksgiving.

> three weeks ago - wow - that's way too long!
I was OK with the waiting in the beginning (two months ago) but these delays at the end seem unnecessary and are so frustrating.
I'm calling the Closing company on Monday morning for an update.

mbelsanti - I'd be tearing my hair out by now...

 

[sznk]

we're almost HOME

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)
11/20: TCS received Sellers' docs - deed not witnessed
11/26: TCS received Sellers' corrected docs
11/27: Closed (took nine weeks)

future milestones:
get into the MS system / get pin # to get into website / receive Member ID cards

We are extremely pleased with how all the details and communications were handled by Jason (our agent) and The Timeshare Store.

 

[DVC Mater]

Woohoo closing docs came in yesterday, turned in today....almost there

 

[nunzia]

we're almost HOME

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)
11/20: TCS received Sellers' docs - deed not witnessed
11/26: TCS received Sellers' corrected docs
11/27: Closed (took nine weeks)

future milestones:
get into the MS system / get pin # to get into website / receive Member ID cards

We are extremely pleased with how all the details and communications were handled by Jason (our agent) and The Timeshare Store.

Does anyone know the typical time for Disney to et resales into the system? That's what I am looking forward to.

 

[sznk]

Does anyone know the typical time for Disney to et resales into the system? That's what I am looking forward to.

Official word is "up to 10 days after Closing" but it often (tho not always) takes a few days less.

 

[kapeman]

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.

Us too!

We received notice from the closing company that they had received our paperwork and deposited our check on 11/15.

Our closing date was scheduled for 11/22 and we still haven't heard anything.

I honestly thought that the wait for ROFR was the longest part of the process.

I really wouldn't mind the wait so much if I knew better what to expect up front.

The fact that we breezed through ROFR in 7 calendar days set up some, apparently, unrealistic expectations for me.

 

[epcot1stfave]

Kapeman,
we sent our cheque 11/16 and we have just received and e mail today from TSS that everything is completed and we should be in the Disney system in 10 days apparentaly our seller toook two weeks to return documents perhaps something similar is happening with your contract. Good luck.

 

[Mamadis]

We have finally closed! Now we have to wait to get into the system. Hopefully it won't take too long. Can't wait to start making ressies! Good luck to those of you still waiting.

 

[kapeman]

Kapeman,
we sent our cheque 11/16 and we have just received and e mail today from TSS that everything is completed and we should be in the Disney system in 10 days apparently our seller took two weeks to return documents perhaps something similar is happening with your contract. Good luck.

Thanks for the well wishes.

I called the TCS and the sellers forgot a piece of paperwork and mailed it on Monday.

Hopefully we can close out this week.

Seems that quite a few others may be closing this week as well.

I wonder how many resales go through in a common week?

 

[sznk]

UPDATED TIMELINE:

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)
11/20: TCS received Sellers' docs - deed not witnessed
11/26: TCS received Sellers' corrected docs
11/27: Closed (took nine weeks)
11/29: In the DVC system, but with someone else's address & phone #
11/30: Guide got our address corrected. (Still working on phone correction.) Got pin# & logged on to DVC Member's website.

future milestones:
receive new Owner's package and Member ID cards

 

[kapeman]

UPDATED TIMELINE:

11/29: In the DVC system, but with someone else's address & phone #
11/30: Guide got our address corrected. (Still working on phone correction.) Got pin# & logged on to DVC Member's website.

future milestones:
receive new Owner's package and Member ID cards[/COLOR]

When do you get your Guide assignment and how are you notified of it?


UPDATE!!!

We have officially closed!!!

 

[sznk]

When do you get your Guide assignment and how are you notified of it?
UPDATE!!! We have officially closed!!!

to us !

We got a Guide when we took the tour in Sept 07 so I called him. We still haven't been notified officially that he is our Guide. If they assign us someone else, I'll be attempting to change back to him. I have heard of some people getting the Guide that their Sellers had. This may be more likely if you never had a Guide thru Disney(?) Maybe those that have done this before us could enlighten us...

 

[DVC Mater]

I'm closing on my first BCV contract, and I have been in contact with a Disney guide because I was on a wait list. (it eventually came thru 3-4 weeks later but I declined it) I told him I was buying a resale and asked him when it closes would he still be my guide, he said yes.

 

[kapeman]

to us !

Thanks!