Is a 24 hour deadline for paperwork standard?

[drusba]

There is no 24 hour or other law for return of documents. There are no regulators telling any broker that if it is not done in five days, there is something wrong. Any deadlines are those set by the broker and even those are flexible. I don't mind a broker telling you that it should be done quickly or within so many days if that is the broker's guideline, but I do mind a broker lying about it and claiming it is something the law or regulators require. I would not trust that broker for anything.​

 

[Dean1953]

The realtor said it had more to do with her books being in order, so if a state Regulator looked at them, there would be no problems. If she let me return the contract after the 24 hour period, and this was noticed by a state examiner, she would be in trouble. I haven't heard back from her, so I assume that she sold to another customer. In the meantime, last weekend I saw a listing for 25 points at OKW for $105 per point. After some negotiations, we settled on a price of $95 per point and the contract (which I electronically signed) went to Disney Monday for ROFR. OKW wasn't my first choice. I have stayed at here before and, other than location, i have no problem with the resort, particularly at that price. At some point, I plan on adding another 25-40 point contract on re sale and 25 points direct. 75 plus points is more than enough for my plans. I have 30 weeks banked with an exchange company based in the U.K. That were banked in the 1990's. Their exchange fee is 75 sterling per week. I'll do an exchange with them for a week in Orlando and fit a few days either before or after (or both) at a DVC resort. I can't imagine that it will be very hard to get a couple of days at the 7 month mark. If I'm wrong, I'll make a reservation at OKW at the 11 month mark.

 

[KAT4DISNEY]

The realtor said it had more to do with her books being in order, so if a state Regulator looked at them, there would be no problems. If she let me return the contract after the 24 hour period, and this was noticed by a state examiner, she would be in trouble.

AND that statement is the one that is just false. She was pushing you and citing something that is non existent. Just her own rules and that's why it's questionable to deal with that broker at all.

 

[Jerry@dvcstore]

My name is Jerry and I work for The Timeshare Store, Inc.® as an agent, and our office does not require the paperwork back within 24 hours. It must be the agencies policy. I'm also not aware of any Florida laws that requires the documents be returned within 24 hours... again must be agency policy.
We ask our buyers and sellers to return their documents within 7 days. This way we can process the signed paperwork to Disney to start ROFR. The faster the paperwork comes back from both parties, the faster we can get to Disney & title company.