Please Advise... Unresponsive Sellers

[nickspace]

I signed a contract for a DVC resale and have been waiting 15 to date now for the buyer to return their signed contract. They are going through bankruptcy and I guess they have to wait for court approval. What makes me nervous is the sellers are not returning messages from my agent.

The problem is that I like this contract/use year and there isn't one like it our there. I can still make an offer on another contract but will have to be a little flexible and perhaps choose a contract with a different use year.

What should I do?

 

[Deb & Bill]

Ask your agent to withdraw your offer. And start over.

 

[Buckeye Fan]

Ask your agent to withdraw your offer. And start over.

This is exactly what we did. If the right contract is not out there, hold on a bit. Prices will still be good, and as we get closer to January, you'll see more and more inventory. I had a broker tell me that January is a GREAT time to buy!

I'd call the broker, make sure you can still back out, and see what else is available.

Best of luck, Nick! Sending extra pixie dust your way!

 

[wdwnut]

Hi: Only you can decide. I was involved with an unresponsive seller from the UK. It was a loaded contract with the same use year as our others. After losing a couple months waiting for him to get his act together, I called it quits. I was then able to get another contract for a bit less money. Good luck.

 

[disneynutz]

Time to start the process over. You will find what you're looking for, it just takes a little time.

 

[buzz5985]

I bought a resale from an owner filing bankruptcy in Canada. It took about 8 or 9 weeks altogether. Good Luck

Janis

 

[nickspace]

I bought a resale from an owner filing bankruptcy in Canada. It took about 8 or 9 weeks altogether. Good Luck

Janis

Did the seller communicate during the waiting process or were you left in the dark?

 

[BWV Dreamin]

Ask your agent to withdraw your offer. And start over.

Time to start the process over. You will find what you're looking for, it just takes a little time.

Same advice as above.....

 

[JimMIA]

I'd sure start looking for another contract. If you find one that meets your needs with fewer hassles, cancel and buy the new one.

If I understand your OP, they have not even accepted your offer yet. If that's the case, I think I'd just cancel, because offer and acceptance is just the very first step. If they haven't even done that, they are going to be way more drama than they are worth.

 

[buzz5985]

Did the seller communicate during the waiting process or were you left in the dark?

Not that I am aware of. I finally called TTS complaining about the length of time it was taking - and it wasn't until then that I found out I was buying from a couple declaring bankruptcy in Canada and I should be patient since it took awhile for the papers to go back and forth.

Janis

 

[Hmom03]

I'd be very nervous if they aren't returning phone calls. I think that I would consider cancelling and waiting for another contract that fits your needs.

 

[backyardponder]

There's so many contracts out there available for resale that, unless there is something especially attractive in this one, I'd consider cancelling. Read your contract and see what the termination provisions are. Exercise them if you want to.

 

[nickspace]

still waiting

 

[nickspace]

I may consider another contract but I want a specific UY and range of points at a specific resort. It is not as easy to find as you would think when you narrow your choices.

 

[arthur06]

I'm in the same boat you are! Passed ROFR on 5/22 and still nothing from seller! You would think they want there money!

 

[nickspace]

I'm in the same boat you are! Passed ROFR on 5/22 and still nothing from seller! You would think they want there money!

I agree!

 

[Dean]

I would agree with the basics above. I'd start looking and tell the broker that once you found something, you wan't to cancel this one if nothing has happened. Review your documents to make sure you don't get in a situation where you're buying two contracts though. If you were not told about this being a bankruptcy and the broker knew it, I'd be VERY upset.

 

[nickspace]

I was never told it was a bankruptcy and I am trying very hard to hold back my anger and be civil. As it stands now I have given the seller till Wednesday at 5:00 pm to give us an update or we pull the contract.

If this takes long it will eat away at my 11 month window for booking a trip next summer and then I will be very unhappy.

First Disney exercised the ROFR on a contract this spring and now this. Life is magical!

Thanks for all the support everyone!

Let me offer a correction here. I was told it was a bankruptcy but if was after I signed the contract, waited for some time, and then asked some questions.

 

[arthur06]

If it makes you feel better, I emailed Nancy at MVC, who forwarded it on to Jerry at TSS. Supposedly the seller "just" sent in there paperwork. guess we'll see!

 

[JimMIA]

I may consider another contract but I want a specific UY and range of points at a specific resort. It is not as easy to find as you would think when you narrow your choices.

If you haven't already done so, I'd contact TTS and get put on their "call list." Tell them which resort you want, which UY you want, and a range of points. If they get something that is close, they'll call you before the contract goes on their website. That's how all those "Sale Pending" listings you see happen -- they're sold before they're advertised.