Length of time for seller to return closing docs?

[Scrub0bk]

Just a quick question for anyone as most people in the closing thread seem to have gotten the seller docs returned pretty fast. What’s the length of time that is acceptable for a seller to return the closing docs? I went with resale cause of when we started the process the timing was good but now it’s pushing close to when we would want to book and with 2022 points in the account already we’ll probably be left without being able to bank them.

For reference I sent my docs back on 8/30 and funds 8/31 and haven’t gotten anything back from the seller. The broker said they reached out to them but still nothing. Not sure if I even have any recourse now anyway cause it’s past rofr and all that but it’s a bit frustrating at this point and if I could I probably would just go direct at this point to ensure I can take the trip when I want and not lose any points.

Appreciate any advise anyone has! Thanks!

 

[Sandisw]

Sellers can take up to the closing date in the contract. There is no requirement before then.

As the buyer, if the contract does not close by that date, have the right to cancel the contract and receive your money back.

 

[Scrub0bk]

Thanks. I guess that might be my confusion. In the contact is says closing “on but not before 9/24” which seems like weird verbiage but I wasn’t sure if that was standard

 

[MICKIMINI]

This has happened to me before. I emailed the broker and let them know if it didn't close on time I wanted a refund. Both times, closing docs showed up within a day or two. You are beyond that date. At this point, if you don't want the contract ask for a refund.

I now wait until my title agent has closing docs in hand before sending in final payment. Sorry this happened to you.

 

[Scrub0bk]

That’s a good idea. I’ll let them know I want the documents in the next day or so since we’re past the date. Appreciate the response and now I know not to have that verbiage in the contracts.

 

[Sandisw]

If it says that, it sounds like it may have been a delayed closing. Most contracts will say the opposite and say it will close on or before.

Id reach out and ask for options if there is no official closing date.

 

[sndral]

Thanks. I guess that might be my confusion. In the contact is says closing “on but not before 9/24” which seems like weird verbiage but I wasn’t sure if that was standard

Sounds like an undisclosed delayed closing. Seems to be an increase in that shady practice lately - the shady part being not disclosing the fact that the seller has a pending reservation & can’t close until after their trip. Typically even w/ delayed closings sellers return the documents & the deed doesn’t transfer until the date agreed on.
As worded & if there’s nothing else in the contract about closing w/ a date later then 9/24 your closing date was 9/24 - did you close on 9/24?
I’d email the agent & the title company & ask for confirmation that you closed on 9/24 as specified in the contract & if it did not close as per the contract on 9/24, then to refund your funds immediately.

 

[sndral]

If it says that, it sounds like it may have been a delayed closing. Most contracts will say the opposite and say it will close on or before.

Id reach out and ask for options if there is no official closing date.

There is an official closing date in the contract - 9/24. If the contract had said not before 9/24 there wouldn’t be a set closing date, but because this contract said on [but not before] 9/24 - it was to close on 9/24.

 

[Sandisw]

There is an official closing date in the contract - 9/24. If the contract had said not before 9/24 there wouldn’t be a set closing date, but because this contract said on [but not before] 9/24 - it was to close on 9/24.

Thanks..I did not process the whole “on” part. Good catch!

 

[Scrub0bk]

I appreciate all the responses. It made me go back and look at the exact wording to ensure I wasn’t going crazy. I’ll reach out to the broker tomorrow if I haven’t heard anything. The delays are going to cost me being able to bank my points at this rate if I even had a chance to and that was part of the reason for selecting this contract.

 

[sndral]

I appreciate all the responses. It made me go back and look at the exact wording to ensure I wasn’t going crazy. I’ll reach out to the broker tomorrow if I haven’t heard anything. The delays are going to cost me being able to bank my points at this rate if I even had a chance to and that was part of the reason for selecting this contract.

Reach out to your title company as well - they are the ones who sent the seller their docs & to whom the seller will be returning the docs.

 

[SG131]

I appreciate all the responses. It made me go back and look at the exact wording to ensure I wasn’t going crazy. I’ll reach out to the broker tomorrow if I haven’t heard anything. The delays are going to cost me being able to bank my points at this rate if I even had a chance to and that was part of the reason for selecting this contract.

It is possible to request that the seller banks the points before closing. But at this point with the delay, I would be very cautious and probably walk away from this one and also from this broker. It is out of their control when they get the closing documents, but they owe it to you to be more transparent than they are.

 

[Scrub0bk]

i did ask about that - the broker said it had to be banked before ROFR unfortunately

 

[Stargazer65]

I just had a closing that took place on 9/21 a week after the closing deadline (9/14). On 9/14 the title company notified the broker, I had a phone conversation with the broker who told me the seller apologized and said they would get the documents in the mail that day. I told them okay, I would wait. So, I closed a week later than the deadline. It was worth a little extra patience in my case, YMMV. If they hadn't gotten a response from the seller then I would've asked for my money back.

 

[Scrub0bk]

I just had a closing that took place on 9/21 a week after the closing deadline (9/14). On 9/14 the title company notified the broker, I had a phone conversation with the broker who told me the seller apologized and said they would get the documents in the mail that day. I told them okay, I would wait. So, I closed a week later than the deadline. It was worth a little extra patience in my case, YMMV. If they hadn't gotten a response from the seller then I would've asked for my money back.

They said they "should have the sellers closing documents this week and will close no later than early next week" and i just asked them to close this week if possible as it is already a week after the deadline. I feel like the seller had ample time to get all the documents ready and all that to sent for 9/24 there shouldn't be any more delays. I don't have a ton of faith in the dates their providing but if i get any indication that they aren't getting everything back from the seller im going to ask for my money back.

 

[Scrub0bk]

fun stuff - now that the hurricane is hitting, both broker and title company are basically unreachable. I think i'm at the point where i ask for my money back and find a different route to take with DVC as clearly the seller has no motivation to finish anything.

 

[Scrub0bk]

an update on this- the deed was recorded today. hurricane obviously didnt help but maybe potentially can use that as a chip to allow us to bank our points if we get them close to the 10/31 deadline. fingers crossed. based on what ive seen in the closing time thread its not out of hte question to get the points by 10/31

 

[SG131]

an update on this- the deed was recorded today. hurricane obviously didnt help but maybe potentially can use that as a chip to allow us to bank our points if we get them close to the 10/31 deadline. fingers crossed. based on what ive seen in the closing time thread its not out of hte question to get the points by 10/31

You can also call DVC. I needed my points to book and after calling a couple of times to check the status I got a nice agent that loaded them in while I was on the phone.