I SO wish I had just bought through Disney

[Squidrific]

The pendulum also swings both ways as far as contract signing. I have had the same 50 WLV contract get "sold" 3 times now and then we never hear back from the buyers and have to relist. Hopefully this time the buyer will follow through as we have had this on the market almost 2 months because of people backing out.

Question: How long should it take to get the closing documents after ROFR? I got an e-mail that Disney waived ROFR on my 50 point BCV contract on July 17th, but I haven't heard anything from TTS since.

 

[PEANUT1]

same thing happened to us....our seller took forever to get documents back. I remember we made our ADR's for our trip we wanted to take without actually owning DVC yet or having a place to stay.

hang in there. it will be over soon. Our rep told us that those closing dates rarely are correct.

btw you may not be able to get all of your money back bc if I remember correctly I think there was a grace period as to when the closing would occur.

 

[BWV Dreamin]

Yes it really is not the resale company holding things up.. It is just very frustrating..

It is the closing company's responsibility to keep up with this contract so that it closes at the specified time. I had to really rip a big one with them during closing on my VB contract. Like I said, never again with them. These are such small contracts, the pay they will recieve doesn't warrant any due diligence on their part, at least that is their attitude. If this was a $500,000 contract, I bet you'd see different action.

 

[NicksTgrMom]

The pendulum also swings both ways as far as contract signing. I have had the same 50 WLV contract get "sold" 3 times now and then we never hear back from the buyers and have to relist. Hopefully this time the buyer will follow through as we have had this on the market almost 2 months because of people backing out.

Question: How long should it take to get the closing documents after ROFR? I got an e-mail that Disney waived ROFR on my 50 point BCV contract on July 17th, but I haven't heard anything from TTS since.

As your VWL buyer, I was reading this worrying about you...

Don't worry, I've signed the "open escrow" papers and I think we're now waiting on estoppel. I got an e-mail yesterday giving me the name of the person assigned to complete the closing papers. If you're signing, I'm signing...

Gina

 

[disneynutz]

The buying process seems faster when you buy direct because Disney deliberately delays outside sales. They also give you your points before you close. To many getting their points faster is worth paying the extra money.

 

[JimMIA]

btw you may not be able to get all of your money back bc if I remember correctly I think there was a grace period as to when the closing would occur.

Naw...under Florida law, if the deal doesn't close, the purchaser gets ALL of their money back.

In a different scenario -- if the seller had done their part and then the buyer backed out -- the buyer might lose their deposit (but not the closing funds). But in this case, the buyer would recover all their money.

The grace period you're talking about is Florida's 10-day recision period, which allows the purchaser to withdraw within 10 days of signing the purchase agreement (NOT the offer document).

But if the seller doesn't return the sales agreement, there is no contract. The buyer has no obligation and would take no loss.

 

[janni518]

I went through GMAC and everything went very smoothly. I think it all boils down to who the seller is with either company. That said, I'll probably go throuhh Disney now that I'm in the system.

Good point, but when you go through Disney don't they have possession of the points. They aren't brokering them for a seller right? They already own them. So, you don't have to wait on anoone but Disney?

 

[JimMIA]

Good point, but when you go through Disney don't they have possession of the points. They aren't brokering them for a seller right? They already own them. So, you don't have to wait on anoone but Disney?

Sure. There's no question that purchasing through Disney (assuming they have points you want) is quicker and certain. But, depending on what you buy, it may be MUCH more expensive.

Our first purchase was resale and we saved $4,000 and got 149 banked points in the bargain. We bought our addon from Disney because the deal they were offering was better than we could have gotten resale.

No one way is the perfect way. It depends on your situation, the resale market, and what Disney has to offer buying direct.

 

[Squidrific]

As your VWL buyer, I was reading this worrying about you...

Don't worry, I've signed the "open escrow" papers and I think we're now waiting on estoppel. I got an e-mail yesterday giving me the name of the person assigned to complete the closing papers. If you're signing, I'm signing...

Gina

No Gina you are fine - I actually had two 50 point contracts up for sale and the 2nd one has been a nightmare!!!

 

[dvcnewgirl]

It is the closing company's responsibility to keep up with this contract so that it closes at the specified time. I had to really rip a big one with them during closing on my VB contract. Like I said, never again with them. These are such small contracts, the pay they will recieve doesn't warrant any due diligence on their part, at least that is their attitude. If this was a $500,000 contract, I bet you'd see different action.

I agree, I called today and the Closing Agents LIED to GMAC. I have an e-mail saying they sent the contract and it was being signed and sent back on the 29th of July. They told GMAC this morning that they mailed it Wednesday.. OK maybe they lied to me but anyway they have been making excuses and have had MY $$ since 7/6..

 

[Robert H]

I'm really starting to think that we are not supposed to be members. We tried to call Bernard since we have talked with him in the past, but just not ever bought. He is on vacation this week.
We tried to call the phone number on the DVC website and it states that their office is currently closed, but gives the office hours as 9-9. Hello!? It is between those hours now...........
This has been a tremendous pain in the hiney!

 

[ldo]

I had a offer accepted on 11/16 and waived ROFR the following week. We both signed papers promptly and did not close until 1/20. IT could be that your seller is on vacation. Also, he has to get the docs notarized, I believe) and might just be lazy--or it might be hard to get husband and wife together on a day that banks are open to notarize things. As others have said, TSS is very reputable. If you are saving a lot of $$ and you don't NEED to make an immediate reservation, I would bug your agent and give it a few more weeks/ Good luck, Elaine

 

[Disney Spaz]

Don't give up. I played phone tag with my DVC rep for several days. Then I finally called on the fourth of July, expecting to leave another message and he actually answered. I was on the phone for maybe 45 minutes and had my developer points ressie for January along with everything else. By the following Tuesday I had my Fedex package which I promptly signed and returned the next day. They received it 1 week and a day after my first person to person contact with my guide and I closed on July 21st. Start to finish it took 18 days. On July 29th I was even able to go onto Orange County's Comptroller sight and see my recorded deed. Don't give up.

 

[Mtnman44]

Whoa! That's an interesting tactic to use!

... I had to really rip a big one with them during closing on my VB contract.

 

[BWV Dreamin]

Whoa! That's an interesting tactic to use!

Well it worked cause they got that paperwork over to Member Accounting within the hour!

 

[Squidrific]

Well it worked cause they got that paperwork over to Member Accounting within the hour!

It was so fast because they were running from the building!

 

[Mtnman44]

Great. Now I can tell my wife that I DO have useful skills!

Well it worked cause they got that paperwork over to Member Accounting within the hour!

 

[snowbunny]

We tried to call Bernard since we have talked with him in the past, but just not ever bought. He is on vacation this week.

He'll get back to you asap when he gets back, Bernard is good (he's my guide).

Meantime put the fact that you are canceling the resale contract today in writing and fax it down to TTS. A phone call is just word of mouth, if you really want to get out of it, document the date and your decision on paper.

 

[Disney MAINEiac]

I must say we bought our first contract directly from Disney and a add on later fron TTS. Both could not have gone smoother. It just is not in TTS's interest to delay a contract closing...no play no pay! it must be the seller.

 

[ILuvMulan]

I am sorry you are having such a tough time. Working through Disney has been a breeze. We contacted our guide with our decision to purchase last Friday. Received our Docs. Mon by FedEX. Sent them back today (prepaid FedEx). WE, too, thought about resale, but just trusted Disney more. We are very happy about our incentives also.