Is this even possible?

[amymgould]

I'm grasping at straws here... I posted yesterday about a delayed closing due to international sellers unable to sign closing docs until 7/11. I'm worried about making my reservation for next year by the 7 month mark.

So... if the sellers were even willing to do this, could they make a reservation for us using the points that will be ours upon closing? What would happen when they no longer own the contract and it is in my name? Is the reservation lost or still there? I'm sure there are lots of issues I'm not thinking of, so I apologize if this scenario is completely absurd.

 

[kniquy]

I would say that is a bad situation and if you went through ROFR it might void the contract as it would change the points status. I am sure someone can comment with more factual info. Whats to say the sellers make the reservation and end up using it for themselves or renting it to someone else?

What time of year are you looking to book? If it is summer time it is DVC low season so you should be able to find something at least at SSR or OKW.

 

[huskerfanatic7]

I would look at renting points for your reservation now and rent out your points when your contract closes.

 

[amymgould]

I would say that is a bad situation and if you went through ROFR it might void the contract as it would change the points status. I am sure someone can comment with more factual info. Whats to say the sellers make the reservation and end up using it for themselves or renting it to someone else?

What time of year are you looking to book? If it is summer time it is DVC low season so you should be able to find something at least at SSR or OKW.

I figured there were issues I wasn't thinking of. We want to book 3/31-4/7 which is Easter and the week after. We are buying at BLT so I really want to stay there. Right now I know there is availability but no telling what it'll be like in a month or two, especially after the 7 month window.

 

[_auroraborealis_]

Can't be done. You cannot transfer and close a contract that has a pending reservation.

 

[amymgould]

Can't be done. You cannot transfer and close a contract that has a pending reservation.

Thank you. That's exactly what I needed to hear to get this crazy idea out of my head. lol

 

[amymgould]

I would look at renting points for your reservation now and rent out your points when your contract closes.

Not a bad idea! Thank you!

 

[_auroraborealis_]

Thank you. That's exactly what I needed to hear to get this crazy idea out of my head. lol

In fact, that's a key purpose of estoppel.

 

[Dean]

I'm grasping at straws here... I posted yesterday about a delayed closing due to international sellers unable to sign closing docs until 7/11. I'm worried about making my reservation for next year by the 7 month mark.

So... if the sellers were even willing to do this, could they make a reservation for us using the points that will be ours upon closing? What would happen when they no longer own the contract and it is in my name? Is the reservation lost or still there? I'm sure there are lots of issues I'm not thinking of, so I apologize if this scenario is completely absurd.

Depending on specifics and how good the contract is, you might look at alternatives. In part that would depend on the wording of your contract, esp whether a closing then would be c/w the contract or in violation.

 

[mustinjourney]

is the delay due to finding a notary?

there's something called notarycam.com that MIGHT work. I briefly looked into it last year...but we didn't have to go that route, so I didn't do a full due diligence on it.

 

[amymgould]

is the delay due to finding a notary?

there's something called notarycam.com that MIGHT work. I briefly looked into it last year...but we didn't have to go that route, so I didn't do a full due diligence on it.

Yes...apparently they have to travel to the Paris embassy and they couldn't get an appt for a month.

 

[amymgould]

is the delay due to finding a notary?

there's something called notarycam.com that MIGHT work. I briefly looked into it last year...but we didn't have to go that route, so I didn't do a full due diligence on it.

And THANK YOU! I'm looking into this and asked my broker if she'd be willing to offer this suggestion to the seller. Really hoping this will speed things up a bit!

 

[mustinjourney]

good luck! Let us know if it works out. If it does, it will save a lot of people a lot of time and aggravation. it'd also be nice if the brokers figured this out and started suggesting it.

 

[amymgould]

good luck! Let us know if it works out. If it does, it will save a lot of people a lot of time and aggravation. it'd also be nice if the brokers figured this out and started suggesting it.

Unfortunately it won't work. Florida will not accept electronic signatures. The title company sent me a document explaining this. Thanks anyway!

 

[mustinjourney]

Unfortunately it won't work. Florida will not accept electronic signatures. The title company sent me a document explaining this. Thanks anyway!

I think your broker is wrong. I just looked up the statute and it looks like electronic signatures are in fact legal.

http://notaries.dos.state.fl.us/education/elecnot.html

Specifically, see section 11(a).

(a) If a law requires a signature or record to be notarized, acknowledged, verified, or made under oath, the requirement is satisfied if the electronic signature of the person authorized by applicable law to perform those acts, together with all other information required to be included by other applicable law, is attached to or logically associated with the signature or record. Neither a rubber stamp nor an impression type seal is required for an electronic notarization.

 

[amymgould]

I think your broker is wrong. I just looked up the statute and it looks like electronic signatures are in fact legal.

http://notaries.dos.state.fl.us/education/elecnot.html

Specifically, see section 11(a).

(a) If a law requires a signature or record to be notarized, acknowledged, verified, or made under oath, the requirement is satisfied if the electronic signature of the person authorized by applicable law to perform those acts, together with all other information required to be included by other applicable law, is attached to or logically associated with the signature or record. Neither a rubber stamp nor an impression type seal is required for an electronic notarization.

I just reread the email and document. I misspoke... it's First American Title Company does not allow them in Florida. Ugh...wish I could use another title company!!

 

[mustinjourney]

I just reread the email and document. I misspoke... it's First American Title Company does not allow them in Florida. Ugh...wish I could use another title company!!

I would really try and push the broker to talk to the title company. If it's legal, they should be ok with it.

 

[amymgould]

I would really try and push the broker to talk to the title company. If it's legal, they should be ok with it.

I don't know...they had a formal document they sent to me. Even if it's legal, it doesn't sound like this company allows it.