Please Advise... Unresponsive Sellers

[flexsmom]

Find out where they live and then research the bankruptcy court site - most of the dockets are likley public and you should be able to see what's going on with their assets. This could be a good deal for you under these circumstances.

 

[JimMIA]

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?

I'm still not clear on what the problem is here.

Are you waiting for them to send back the acceptance of your offer?

Or have you cleared ROFR and are waiting for their closing documents?

Makes a big difference in what your options might be.

 

[nickspace]

I'm still not clear on what the problem is here.

Are you waiting for them to send back the acceptance of your offer?

Or have you cleared ROFR and are waiting for their closing documents?

Makes a big difference in what your options might be.

I am waiting for them to sign the offer acceptance contract.

 

[nickspace]

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!

Please tell me more about this. What is MVC and how did you find out before I did?

Thanks,
Nick

 

[5forDiz]

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.

I was never told it was a bankruptcy and I am trying very hard to hold back my anger and be civil.

I'm certainly not a legal expert but it sounds like this could be bogged down for quite some time. If it were me I'd get out of it and focus on finding another contract. I'm not an expert on all things resale either, but I'd think you should have been informed at the get-go that there was great potential for delay due to seller's bankruptcy situation.....prospective buyers are informed to expect a delayed closing on a contract when the current owner has an upcoming trip that they must complete prior to closing so this makes me wonder why you weren't given a heads up on your seller's situation.

It is unfortunate that it is a contract that is to your liking but hopefully another will turn up soon that's just right. Sometimes when a door closes an even better door will open.

Best wishes to you, post back how it goes

 

[disneynutz]

I am waiting for them to sign the offer acceptance contract.

If they haven't even accepted your offer... move on.

 

[nickspace]

If they haven't even accepted your offer... move on.

I gave them till 5:00pm Wednesday to sign or I pull the offer.

 

[JimMIA]

I am waiting for them to sign the offer acceptance contract.

I'm afraid you already have received your answer. If you offered less than they were asking, they probably just ignored the offer. No answer often is an answer.

I hope this works out for you. Good luck.

 

[Anna114]

I guess I was more blessed then I thought. Our offer was accepted with in 24 hours and both of us overnighted the closing paperwork. Hope my next one, closing in August goes as well.

 

[JimMIA]

Any update, Nick?

 

[nickspace]

Any update, Nick?

Yes! I ended the contract and made an offer which was accepted on another contract this evening. The new contract is semi-stripped but I was able to get a better price with the UY I wanted so it worked out fine. We are waiting to get the contract to sign tonight and we will return it immediately.

To justify buying a contract that was a bit stripped I just booked my next DVC trip using cash instead of points with the money I saved. I think my eyes were so closed to not wanting a semi-stripped contract that failed to consider how I could make that work.

Hopefully Disney will not exercise ROFR as they did on a contract we had a couple months ago. We have been messing around with this stuff for a while now and I am so ready to see my new points in my account.

I would like to thank everyone for sharing this experience with me through your support.

Thanks,
Nick

 

[arthur06]

I got an email from Jerry today that *** got documents from the seller and that we would close today or Monday!

 

[nickspace]

I got an email from Jerry today that *** got documents from the seller and that we would close today or Monday!

Awesome!

 

[jekjones1558]

Good luck, Nick! Here's hoping this saga's happy ending will be announced soon!