Questions about closing documents?

[WDWfantasy]

We are currently waiting on ROFR, but I have a few questions about closing documents. We are the buyers, we live in California, buying a SSR resale contract and paying cash. The title company is masontitle.com.

Are these documents emailed to us?
Do we print out to sign and return, or is it a docusign type of thing?
I’m assuming we don’t need a notary if we aren’t financing??

Thanks!

 

[bravo2zero]

Mason will email the closing documents to you within several days of passing ROFR. They will be done via DocuSign. I had no need for a notary or to print anything (though I don't live in CA and am not familiar with CA law!).

 

[Willow1213]

We are currently waiting on ROFR, but I have a few questions about closing documents. We are the buyers, we live in California, buying a SSR resale contract and paying cash. The title company is masontitle.com.

Are these documents emailed to us?
Do we print out to sign and return, or is it a docusign type of thing?
I’m assuming we don’t need a notary if we aren’t financing??

Thanks!

We are in the exact same boat! We just returned our closing documents for an SSR resale contract with Mason. It was sent via email with Docusign. It was very simple and entirely digital, notary is only required for the seller.

I then went to my bank online and sent the wire of funds, after calling Mason to verify wiring instructions.

 

[KPeterso]

We are currently waiting on ROFR, but I have a few questions about closing documents. We are the buyers, we live in California, buying a SSR resale contract and paying cash. The title company is masontitle.com.

Are these documents emailed to us?
Do we print out to sign and return, or is it a docusign type of thing?
I’m assuming we don’t need a notary if we aren’t financing??

Thanks!

CA resident and I bought with www.dvcstore.com in early 2022. No financing needed. I received my closing documents via email/docusign. So I only had to sign via Docusign. No notary was needed. And then I wired the money as soon as I knew the sellers had returned their documents as well.

 

[bravo2zero]

CA resident and I bought with www.dvcstore.com in early 2022. No financing needed. I received my closing documents via email/docusign. So I only had to sign via Docusign. No notary was needed. And then I wired the money as soon as I knew the sellers had returned their documents as well.

This last part may or may not be something those who haven't gone through the process think about, but sellers can take from days to weeks to sign. You can wire your money any time after ROFR, but do not have to until the sellers have signed. You will likely be very annoyed if you send your money after signing and sellers take awhile to sign!

 

[KPeterso]

This last part may or may not be something those who haven't gone through the process think about, but sellers can take from days to weeks to sign. You can wire your money any time after ROFR, but do not have to until the sellers have signed. You will likely be very annoyed if you send your money after signing and sellers take awhile to sign!

That is definitely a tip I picked up here! Sign the paperwork and send it back. And let the agent know that once they have the signed seller documents that you will wire the money.

 

[Willow1213]

That is definitely a tip I picked up here! Sign the paperwork and send it back. And let the agent know that once they have the signed seller documents that you will wire the money.

I wish I would have known that in advance! We were delayed a few days in signing paperwork as the buyer, I was travelling. We received on Friday and signed Tuesday. I assumed the sellers were signing concurrently and would be waiting on me - HAHA NO! They are in CANADA and need a notary which takes a whole lot of work... so Mason is holding on to my money until they can figure it out. Sigh.

 

[DonMacGregor]

That is definitely a tip I picked up here! Sign the paperwork and send it back. And let the agent know that once they have the signed seller documents that you will wire the money.

Likely not a popular opinion, but I always wire the money the minute I receive the closing docs. Buying resale takes long enough as it is, and I'd rather have all of my housekeeping done with nothing left hanging.

The way I look at it, the money is going to be gone regardless, I'm not going to see some sort of windfall in interest if the money stays in the bank for even an extra month or so, and if the money is being held in escrow by a licensed title company, it's not going anywhere and I'll get it back within a couple of days in the deal falls through.

 

[jjanne]

Do you get a copy of the ROFR waiver with closing documents?

 

[DonMacGregor]

Do you get a copy of the ROFR waiver with closing documents?

Not usually, but sometimes the broker will forward the ROFR email if you ask them too. They look like this:

 

[jjanne]

Not usually, but sometimes the broker will forward the ROFR email if you ask them too. They look like this:

View attachment 802845

thanks @DonMacGregor for the ROFR waiver response. (looks like ROFR waivers from Disney are not provided to buyers though brokers may provide.

I'm trying to understand resale closing process - I see a step in the process about Disney issuing estoppel certificate to verify points (and outstanding account dues) --> would this be provided as part of closing documents? Does buyer need to be concerned with these docs?

 

[DonMacGregor]

thanks @DonMacGregor for the ROFR waiver response. (looks like ROFR waivers from Disney are not provided to buyers though brokers may provide.

I'm trying to understand resale closing process - I see a step in the process about Disney issuing estoppel certificate to verify points (and outstanding account dues) --> would this be provided as part of closing documents? Does buyer need to be concerned with these docs?

They issue the estoppel certificate with the ROFR waiver.

 

[jjanne]

They issue the estoppel certificate with the ROFR waiver.

Do buyers actually receive the estoppel certificate? Or buyers would just be informed by broker this has been received?

 

[DonMacGregor]

Do buyers actually receive the estoppel certificate? Or buyers would just be informed by broker this has been received?

I've never received one.