Point Summary??

[momtwoboys]

Guess the hold up for us on our resale DVC is that Disney needs to send a Point Summary. HOW THE HELL LONG does this take? We are starting to worry this deal isnt going anywhere. The agent seems annoyed when I email to ask for updates. No one seems to know when we will get closing docs. We have until Jan 31st to bank 100 points that we are paying MF's on and we are stressed out. This will be our last DVC resale purchase for sure. IF we ever have the funds for a small add on it will be direct.

 

[BillPA]

Have the current owner bank the points now. Who is your broker? Sounds like you need a new one. Good luck.

 

[momtwoboys]

Have the current owner bank the points now. Who is your broker? Sounds like you need a new one. Good luck.

I have asked numerous time to have the sellers bank the Points, and the agent keeps saying I have plenty of time. Our mistake now for not having that written into the contract. We signed back on Oct 26. We are using Fidelity.

 

[CraigInPA]

I have asked numerous time to have the sellers bank the Points, and the agent keeps saying I have plenty of time. Our mistake now for not having that written into the contract. We signed back on Oct 26. We are using Fidelity.

It very well may be that the seller is behind in maintenance fees, and as a result is unable to bank the points for you. I recently had the same issue.

It sounds like you're in estoppel? The time between Disney waiving ROFR for us was 10 days. It was then 30 days before the title company told us that the estoppel letter came, and another few days after that for paperwork, and another few days for the seller to sign after our cashier's check arrived at the title company, and then 2 days for the title to be recorded, and then 7 days for us to have access to the contract on the member website.

You've been at this since October 26. That's only 7 weeks so far. You've got another 2 to go, unless the seller gets cold feet, or is somehow unable to sign the final paperwork. It's still 7 weeks before your banking deadline.

 

[toolioiep]

Deep breath....

We passed ROFR on 10/10 and I didn't get my closing docs until a month later. Even worse - once I got them and wired funds, it took almost another month before things closed (which was stressful as my money was gone from my control). I ended up closing almost 2.5 months after we "made our deal" with the seller.

My point is - it will get done. Stressing about it isn't going to get things done any quicker. I made a point of following up once a week once things started getting to the absurd stage (which I agree you are in). It gave me the comfort of knowing I was pushing, but also the assurance I wasn't becoming one of those people. I'd simply insist that the points be banked as soon as possible and ensure you inquire of a weekly basis for progress reports. Something along the lines of "I am going to need confirmation of the indicated points being banked, or given the time sensitive nature of this matter I will have to start exploring alternative options". I sent something along these lines after the delay in closing and received confirmation of close less than 48 hours later.

Best of luck!

 

[disneynutz]

Not all brokers are equal, not all closing companies are equal and the company that you are buying a contract to vacation at and spend money is treating you like a second class citizen and delaying the process even more. All you can do hope that things get done and over with and that you can bank the points. Good luck.

Bill

 

[KAT4DISNEY]

I don't read anything that would cause me to worry if I were in that situation. The broker doesn't sound like they are against the points being banked but I think they want to wait to see if the closing won't happen by Jan 31st because it changes the terms and needs to be brought back to Disney - which would cause more delay. Getting the info from Disney is nothing they will know the date of - it happens when it happens which isn't always easy to stomach but part of resale. It has sounded like DVC has been relatively quick with this recently and you're really not in any overly lengthy resale situation yet. I'm sure it feels like it but I think you'll be fine.

 

[momtwoboys]

was told that all the paperwork from Disney was sent

I don't read anything that would cause me to worry if I were in that situation. The broker doesn't sound like they are against the points being banked but I think they want to wait to see if the closing won't happen by Jan 31st because it changes the terms and needs to be brought back to Disney - which would cause more delay. Getting the info from Disney is nothing they will know the date of - it happens when it happens which isn't always easy to stomach but part of resale. It has sounded like DVC has been relatively quick with this recently and you're really not in any overly lengthy resale situation yet. I'm sure it feels like it but I think you'll be fine.

ok! Just when the broker emails you that Estoppel can take UP to 3 weeks, and here we are at a month, something seemed odd, and YES Disney sent the Point summary "mislabeled, and incorrect" and now needs to resend it, so yes we were feeling something went wrong, and it did. Sorry to get nervous!

 

[KAT4DISNEY]

was told that all the paperwork from Disney was sent

ok! Just when the broker emails you that Estoppel can take UP to 3 weeks, and here we are at a month, something seemed odd, and YES Disney sent the Point summary "mislabeled, and incorrect" and now needs to resend it, so yes we were feeling something went wrong, and it did. Sorry to get nervous!

Your initial post just stated that you were waiting on the point summary from Disney, not about anything being received already. What you posted now is different and might be a little concerning but still time for things to be corrected if there is some variance.

 

[momtwoboys]

Your initial post just stated that you were waiting on the point summary from Disney, not about anything being received already. What you posted now is different and might be a little concerning but still time for things to be corrected if there is some variance.

because the Broker kept telling me that we were waiting on Estoppel over and over and after today I asked again and she admitted that Disney did send all closing papers, but they JUST today realized that the point summary was" Mis labeled and incorrect point summary" there was no clarification on what that meant, and I am all for waiting for a deal, but when ROFR passed and she wrote that Estoppel could take UP to 3 weeks once a month has passed we are wondering what we are in for. I understand I have until Jan 31st to bank, but now we are just hoping those points that we are paying for are in the " Summary" I will hold tight and refrain from any more freak outs

 

[momtwoboys]

CLOSED today! I am glad that this past Monday I questioned my Agent on the contract. Once I did and the mistake was found, and papers.. Disney was lightening fast at returning the correct info and we are finally Proud Owners of 100pts at OKW!

 

[CarolMN]

CLOSED today! I am glad that this past Monday I questioned my Agent on the contract. Once I did and the mistake was found, and papers.. Disney was lightening fast at returning the correct info and we are finally Proud Owners of 100pts at OKW!

Congratulations! Hope you get into the system very soon! In the meantime, have fun planning how to use those points to make good memories.

 

[momtwoboys]

Congratulations! Hope you get into the system very soon! In the meantime, have fun planning how to use those points to make good memories.

Thank you!!!! Just like we have been planning yearly trips since wayyyyyyyyy back when, this will just be a newer twist to it, I can book my own DVC! Will keep stalking the system to see when we get recorded.