My SSR contract sold in less than a day!! When will I receive payment?

[eeyoresmom]

I faxed my listing agreement to TSS this morning and when I checked my email this afternoon there was a sales contract awaiting my signature!! I will fax that back tomorrow along with the net agreement. The TSS representative told me I didn't have to do anything else, that I should receive final documents by the end of Dec. Is that when I will receive payment, or is there another process after that? TIA

 

[RobDoc]

The accepted offer will now go to Disney for ROFR and they have up to 30 days for that decision. After ROFR, you should get the final documents to be signed and notarized for the closing and you should receive your funds once the sale has closed. Your closing agency should be able to give you the approximate date of the closing (it sounds as though it will be in late December) and you'll get your payment shortly after that date.

Congratulations!

 

[Deb & Bill]

We faxed our info to TTS on 9/8. Our contracts were posted to their website the next Monday. One contract had a buyer that day. Another had a buyer the day after. We received closing documentation on the first contract on 10/17 and mailed them back about two days later. We got the closing documents for the second on 10/29 and mailed them the following day. The second resale closed on Monday. The first just closed yesterday. The buyers must have dragged their feet in returning the documentation and funds. I was told to expect a check from the closing company in 7-10 days.

 

[eeyoresmom]

thank you

 

[MILLZ]

What did you sell your contractr for. How many points were available etc. What were the details if you dont mind

 

[eeyoresmom]

It was a 50 point contract with 2008 and 2009 points available.

 

[Deb & Bill]

Well, I closed over a week ago and still no check. The bad news, though, they have a customer with the same name (not just last name, but first name, too) and I'm getting worried that they are mixing us up. I thought it was odd when I got a call from the salesman about an offer on my Vero Beach contract (don't have one), but when I got an e-mail yesterday tell me my contract should be closing this week...

I'm a bit worried now about TTS.

 

[doubletrouble_vb]

If I were you I'd assume I'd be closing sometime in January. It seems there were a lot of sales early in the fall and Disney wasn't coping well. I got the impression there were two interactions with Disney...one for ROFR and one for Estoppel...and possibly a third for pay off amounts. If they aren't coping well with sales that wouldn't bode well for a period of time where people may be purchasing units as gifts plus employees wanting time off.

 

[JodyTG]

Here's the basic timeline for the contract my husband and I just sold.
* Listed - 09/10/2007
* TTS found a buyer a few days later then sent us our paperwork that we signed and returned within a few days.
* Sent for ROFR - 09/18/2007
* Passed ROFR - 10/08/2007
* Now contract when to Estoppel which seemed to take the longest...
* We sent in our closing documents - 10/30/2007
* Closed - 11/09/2007
* Received check from Timeshare Closing Services - 11/16/2007

So, from listing to receiving the check from the buyer, it was a tad over 2 months. But, obviously we sent in our documents quickly and the buyer did the same.

 

[Deb & Bill]

My two checks finally arrived yesterday. I closed 11/5 and 11/7, checks were dated 11/9 and they arrived on 11/16.

 

[wishicouldgomoreofte]

I faxed my contract on Sept 30, passed ROFR of Oct 12, and still TCS has not received estoppel from Disney yet. "contract must close by or before Novemeber 26" is the wording in the contract. I have been contacting TTS, and they seem quite unconcerned. I emailed TCS this morning, and the closer is out of the office until November 27. No one seems concerned about missing the deadline, or contacting and informing me of anything.

I am buying, not selling, but really wanted to let you know about this.
Is anyone else having similar experiences?