Once a resale closes how long...

[Momtomouselover]

After both parties sign and the contract closes how long are the next steps? Isn't it just getting member services to create a new account (new member) and then transferring ownership?

I’m getting anxious. I need to bank points before end of November (April UY) and was assured no problem. I asked many times
about this and the resale agent with exasperation told me “no problem, there is plenty of time”. I even asked on writing in an email for him to contact sellers and asked them to transfer the points prior to ROFR and he said ok. He didn’t. Now here I am stressing out and not sure why the sellers have not returned the closing documents. At this point I don’t even care if they walk away (vs closing too late for banking) but I mistakenly wired the money before they returned documents. I won’t do that again. So frustrating because the timelines he gave me and the resale company gave were shorter than what the title company estimated but by then we were into the process. If it doesn’t close in time I will feel very mislead and cheated out of points I may not be able to use.

 

[Ruttangel]

After both parties sign and the contract closes how long are the next steps? Isn't it just getting member services to create a new account (new member) and then transferring ownership?

I’m getting anxious. I need to bank points before end of November (April UY) and was assured no problem. I asked many times
about this and the resale agent with exasperation told me “no problem, there is plenty of time”. I even asked on writing in an email for him to contact sellers and asked them to transfer the points prior to ROFR and he said ok. He didn’t. Now here I am stressing out and not sure why the sellers have not returned the closing documents. At this point I don’t even care if they walk away (vs closing too late for banking) but I mistakenly wired the money before they returned documents. I won’t do that again. So frustrating because the timelines he gave me and the resale company gave we’re shorter than what the title company estimated. If it doesn’t close in time I will feel very mislead and cheated out of points I may not be able to use.

Have you checked if the deed is recorded on https://or.occompt.com/recorder/web/ that can sometimes tell you if things are progressing well.

What was your closing date?
It would be worthwhile checking the closing time thread to see how quickly points are showing up, I still think you have time, but it might take a couple of calls to sort if it’s not resolved by mid November.

 

[Momtomouselover]

Have you checked if the deed is recorded on https://or.occompt.com/recorder/web/ that can sometimes tell you if things are progressing well.

What was your closing date?
It would worthwhile checking the closing time thread to see how quickly points are showing up, I still think you have time, but it might take a couple of calls to sort if it’s not resolved by mid November.

The closing date is not until 10/19. It’s just that the timeline for the next steps are far different between what the resale agent stated vs the title company has given so it’s making me nervous.

 

[Spinster Travel]

I closed on my contract on 9/24 as a new member. My Membership Number/Account was set up on 10/5. I don't have the points in my account just yet, but based on the "Closing Time" thread, it appears to be taking approximately one week after the account is created for your points to load which would then allow you to bank them. Assuming the sellers get those documents back soon, I think you will be fine. Do you happen to know if they are an International Seller? That might be the reason for the delay in returning the documents as they'd have more hoops to jump through. I never can understand why some sellers are slow to return the documents. If it were me, I'd want my money and have that thing returned right away.

 

[Llama mama]

So we just returned our closing documents and money. I say our settlement date was November 10. I asked if all paperwork from both parties is received will you close earlier than listed on the contract. The title company said yes , once both parties return paperwork it will close ASAP. Then it’s just a waiting game for Disney on their end. According to the Closing time thread it seems to be picking up speed.
I also need my points before the third week to book a trip before the 7 month window opens
Good luck and think positive.

 

[Momtomouselover]

Not an international seller per the address on the documents. I also asked about closing early if the documents all returned and they said it could be done. Of course the seller has to return the documents though.

I’m frustrated the agent didn’t ask the seller about banking the points like I asked. I’m also unhappy that he sighed and responded with much exasperation when I repeatedly asked for this. He even answered me in bold in an email when I asked over email vs the phone and yet here we are facing the time crunch I was afraid of. It might still all work out so I haven’t mentioned any names but frustrating nonetheless.

 

[kerrylacherry]

I’m frustrated the agent didn’t ask the seller about banking the points like I asked. I’m also unhappy that he sighed and responded with much exasperation when I repeatedly asked for this. He even answered me in bold in an email when I asked over email vs the phone and yet here we are facing the time crunch I was afraid of. It might still all work out so I haven’t mentioned any names but frustrating nonetheless.

I agree with you that his attitude is unprofessional and off-putting. I'm assuming this is your first contract, since you mentioned in the first post that it'll be a new member account, but I would remind him that while this is his job and he works with this sort of thing every day, it's your first time and you do not know the ins and outs as well as him. Even if he's had to answer the same question a million times before from you and all his other clients, there's no call for that behavior.

It's his job to answer your questions about the process, so I'd be petty enough to remind him of that as well; probably in a way that asks who at his company can I direct my questions and concerns to if he is unwilling to answer them.
(I'd also be wondering if there was a way to switch agents, but YMMV.)

I hope it all works out with plenty of time to bank the points!!

 

[RoseGold]

I never can understand why some sellers are slow to return the documents. If it were me, I'd want my money and have that thing returned right away.

It could be all kinds of things: nasty divorce, estate requires a bunch of people to sign off, health issues, bankruptcy trustee, or someone who is just irresponsible. Sometimes those things have destroyed the deal last minute. Very frustrating.

 

[Sandisw]

It could be all kinds of things: nasty divorce, estate requires a bunch of people to sign off, health issues, bankruptcy trustee, or someone who is just irresponsible. Sometimes those things have destroyed the deal last minute. Very frustrating.

Too add to all the reasons above, It also may be coordination of schedules. When we sold a contract, it took my DH and I about a week to get to a notary due to work schedules.

 

[Sandisw]

After both parties sign and the contract closes how long are the next steps? Isn't it just getting member services to create a new account (new member) and then transferring ownership?

I’m getting anxious. I need to bank points before end of November (April UY) and was assured no problem. I asked many times
about this and the resale agent with exasperation told me “no problem, there is plenty of time”. I even asked on writing in an email for him to contact sellers and asked them to transfer the points prior to ROFR and he said ok. He didn’t. Now here I am stressing out and not sure why the sellers have not returned the closing documents. At this point I don’t even care if they walk away (vs closing too late for banking) but I mistakenly wired the money before they returned documents. I won’t do that again. So frustrating because the timelines he gave me and the resale company gave were shorter than what the title company estimated but by then we were into the process. If it doesn’t close in time I will feel very mislead and cheated out of points I may not be able to use.

Id email again and ask that the seller bank the points ASAP. Remind the broker that due to Covid, you have been told that DVC is making no exceptions to late banking...which is true.

 

[TonyCnLV]

After both parties sign and the contract closes how long are the next steps? Isn't it just getting member services to create a new account (new member) and then transferring ownership?

I’m getting anxious. I need to bank points before end of November (April UY) and was assured no problem. I asked many times
about this and the resale agent with exasperation told me “no problem, there is plenty of time”. I even asked on writing in an email for him to contact sellers and asked them to transfer the points prior to ROFR and he said ok. He didn’t. Now here I am stressing out and not sure why the sellers have not returned the closing documents. At this point I don’t even care if they walk away (vs closing too late for banking) but I mistakenly wired the money before they returned documents. I won’t do that again. So frustrating because the timelines he gave me and the resale company gave were shorter than what the title company estimated but by then we were into the process. If it doesn’t close in time I will feel very mislead and cheated out of points I may not be able to use.

I hope it works out for you that’s frustrating you didn’t get the peace of mind about this. We closed on 9/2 and I had points loaded into our new membership on 9/29. I had specifically requested the points be banked in the offer because our banking deadline is 9/30 and I had read from offer to points was taking about 90 days and ours took 91 and I knew we wouldn’t use them before 2021 as I’d already booked a cash stay for September. Stay positive you might get lucky and have them to bank the second you see your points load. I kept logging in to our new membership and even though Disney said to allow up to 7-10 days for points it only took 3. Good luck!

 

[Momtomouselover]

Thanks guys. I contacted the agent again and asked that he please contact the sellers and ask them if they will bank the points and return the documents. I reminded him of the situation and his responses to me up to now and how I asked about the banking previously. He admitted it could take longer than he said (2 months later :/) but did thankfully contact the sellers. Hopefully they bank the points &/or I get lucky with member services.

 

[lea2124]

After both parties sign and the contract closes how long are the next steps? Isn't it just getting member services to create a new account (new member) and then transferring ownership?

I’m getting anxious. I need to bank points before end of November (April UY) and was assured no problem. I asked many times
about this and the resale agent with exasperation told me “no problem, there is plenty of time”. I even asked on writing in an email for him to contact sellers and asked them to transfer the points prior to ROFR and he said ok. He didn’t. Now here I am stressing out and not sure why the sellers have not returned the closing documents. At this point I don’t even care if they walk away (vs closing too late for banking) but I mistakenly wired the money before they returned documents. I won’t do that again. So frustrating because the timelines he gave me and the resale company gave were shorter than what the title company estimated but by then we were into the process. If it doesn’t close in time I will feel very mislead and cheated out of points I may not be able to use.

This is us as well. We're waiting to hear back for an April use year and we asked (all written via email) for 2020's points to be banked before submitting to ROFR. Which they replied they would. If they haven't I'm very nervous there isn't enough time now!
Please keep me posted. Fingers crossed xx