Problem with resale close

[Mrs.Milo]

Has anyone heard of this problem? A family member is purchasing a contract that passed ROFR last summer, but could not close until Dec 4th because the owners had a stay booked. Money sent to title company but now *********** (Broker) says they are researching the seller because he didn't buy direct from Disney. Should we be worried?

***Edited to remove broker in the site filter

 

[disneynutz]

Has anyone heard of this problem? A family member is purchasing a contract that passed ROFR last summer, but could not close until Dec 4th because the owners had a stay booked. Money sent to title company but now ********** says they are researching the seller because he didn't buy direct from Disney. Should we be worried?

Contact broker and ask what's going on, "research" should have been done months ago!

Bill

 

[supersnoop]

Has anyone heard of this problem? A family member is purchasing a contract that passed ROFR last summer, but could not close until Dec 4th because the owners had a stay booked. Money sent to title company but now ********** says they are researching the seller because he didn't buy direct from Disney. Should we be worried?

Yes, it's normal that a deal cannot close until after the owners last trip. That should have been disclosed as in the original listing and the purchase agreement.

There's nothing specific about purchasing direct from Disney that would make a sale go more smoothly. There are plenty of issues that could cause problems with closing, but they'd be unrelated to Disney. As an example, if an individual listed in the deed had passed away and never removed, there may be probate delays or additional paperwork required.

 

[CarolMN]

Has anyone heard of this problem? A family member is purchasing a contract that passed ROFR last summer, but could not close until Dec 4th because the owners had a stay booked. Money sent to title company but now *********** (Broker) says they are researching the seller because he didn't buy direct from Disney. Should we be worried?

***Edited to remove broker in the site filter

As others have posted, it sounds like the owner wanted to take one last vacation before selling. That is not uncommon and as already mentioned, should have been disclosed in the purchase agreement.

"researching the seller" probably means the title company is doing its due diligence to make sure you get a "clean" title. Assuming all of the previous sales were properly done, it shouldn't be a problem. It just might take a bit longer than average.

That said, since it's been a month since 12/4, my advice is to call the broker and politely insist they push the closing company to move it along or refund all of the money so that your family member can move on if the sale isn't going to go through.

 

[Dean]

As others have posted, it sounds like the owner wanted to take one last vacation before selling. That is not uncommon and as already mentioned, should have been disclosed in the purchase agreement.

"researching the seller" probably means the title company is doing its due diligence to make sure you get a "clean" title. Assuming all of the previous sales were properly done, it shouldn't be a problem. It just might take a bit longer than average.

That said, since it's been a month since 12/4, my advice is to call the broker and politely insist they push the closing company to move it along or refund all of the money so that your family member can move on if the sale isn't going to go through.

I wonder if it already has a quit claim deed.