How long to close for resale?

[simba51104]

How long does it usually take to close after Disney waives ROFR? I'm sure this various depending on what resaler you use, but just to get a rough idea of what the wait will be. Thanks!

 

[minniekissedme]

We just closed yesterday...the entire process was:

Offered 2/25
Accepted 2/26
Sent to Disney for ROFR 2/27
Passed ROFR 3/17
Received closing papers 4/3
Returned to settlement company 4/4
Closed yesterday...PRICELESS!

If you think waiting for ROFR is fun...wait for the "wait of estoppel" to be over.

 

[disneynutz]

How long does it usually take to close after Disney waives ROFR? I'm sure this various depending on what resaler you use, but just to get a rough idea of what the wait will be. Thanks!

60 days average before you can use your points.

 

[Buckeye Fan]

How long does it usually take to close after Disney waives ROFR? I'm sure this various depending on what resaler you use, but just to get a rough idea of what the wait will be. Thanks!

Most of it has to do with the sellers, buyers and Disney. The broker and closing company has to wait for the estoppels to come back. That's 100% on Disney and FWIW, we passed ROFR on 3/27 and are still waiting on the estoppels. Once those come back, buyers and sellers sign closing docs and buyers send in a check. This can sometimes take several days. At that point, at least according to the boards, the closing companies generally process things pretty quickly.

From beginning to end, though I'm sure there are exceptions, I really believe it's outside of the brokers' hands. They can be proactive in nudging things along, but if a buyer or seller doesn't turn around paperwork quickly or they're waiting on estoppels, there's not much anyone can do. This is why communication is so key, especially with first time buyers.

 

[disneykidatheart]

Our last purchase through resale took 65 days from date of offer to closing. Not bad considering the seller was from the UK. Our first two purchases took a littler longer. Each was being sold from a trust estate and the sellers (trustees) weren't in as huge a hurry as I to get the papers back. With resale, patience is a virtue. It helps to have just come home from Disney and to have that "fix" under your belt while waiting for the resale process. Good luck~

 

[DisFlan]

Wow, it must be taking a LOT longer than it used to. We bought resale from TTS in 2004. ROFR took 6 days, and we were in the system and ready to go 3.5 weeks later. Our cards came a week after that. I don't know if I could stand a 2 month+ wait! Maybe we were just very lucky and hit at a good time.

BTW, TTS was great.


DisFlan