Questions about closing documents

[RKS03]

Hi all,

In the process of buying our first resale contract and am hoping someone can help.

We just received our closing documents. It doesn't specifically mention Estoppel but assuming this has happened right? There is a confirmation of transfer of DVC points page from the closing attorney but nothing from Disney saying points were verified.

Also they give me an address to send the closing papers to but no fed ex label, which I thought was customary. Did you guys get a prepaid label and if not how did you send it?

Thanks for helping a newbie.

 

[aokeefe]

Yes- Estoppel is all done since you got your closing docs.It depends what closing company you are using- some send labels, some don't. (I only have used First American and they send the label)Congrats- you are closing in on the end!

 

[supersnoop]

They use the estoppel to draft the closing documents. There's should be an accounting of points on the documents.

I've never heard of anyone receiving a prepaid label, and I've closed four contracts with various title companies. In fact, there's really no reason to send it overnight. Regular first-class mail is fine. It will likely still get there before the seller's documents.

 

[Spartan86]

Yeah only experience for us was First American and they included the label.

 

[ITGirl50]

If you got the closing documents to sign, estoppel is done. We never received a document that had an accounting of the points from estoppel or any kind of estoppel document. We closed last week and are waiting for Disney to load the points into our account. We just know the point count based on the original contract when we purchased. Hoping that we get what we thought we bought.

We did get a FedEx label from First American, but I'm sure we paid for it in closing costs. It did make it convenient because I just dropped it off at our work FedEx drop.

 

[Spartan86]

If you got the closing documents to sign, estoppel is done. We never received a document that had an accounting of the points from estoppel or any kind of estoppel document. We closed last week and are waiting for Disney to load the points into our account. We just know the point count based on the original contract when we purchased. Hoping that we get what we thought we bought.

We did get a FedEx label from First American, but I'm sure we paid for it in closing costs. It did make it convenient because I just dropped it off at our work FedEx drop.

In our First American closing documents on the "Addendum to contract", we have an accounting of '16, '17 and '18 points. I guess that had to have come from Disney via the estoppel process. But as you say I see no documentation specifically labeled estoppel.

 

[RKS03]

Thanks everyone for your input. Very reassuring. Tempted to just send regular mail to save money but a little nervous about possibly losing a cashiers check in the mail without tracking.

 

[ITGirl50]

Thanks everyone for your input. Very reassuring. Tempted to just send regular mail to save money but a little nervous about possibly losing a cashiers check in the mail without tracking.

I would spend the extra for overnight FedEx. I've done some shipping of expensive musical instruments for repairs and the owner of the store only does overnight shipping. He says it's more reliable than regular shipping.

 

[ITGirl50]

In our First American closing documents on the "Addendum to contract", we have an accounting of '16, '17 and '18 points. I guess that had to of come from Disney via the estoppel process. But as you say I see no documentation specifically labeled estoppel.

We never got the addendum. There are supposed to be 220 banked points plus all the regular points. It was included with the ROFR submittal, but not with the contract. I'm sure the points are all there because Fidelity verified the points with Disney when we made the offer and the seller hasn't used the contract for a few years. It had 220 points banked from last year too that expired yesterday. The contract is now loaded in our member account. Now waiting for the points to get transferred.