When buying through The Timeshare Store, Inc.® we set our closing dates for 8 weeks from the date of purchase. Typically buyer and seller receive the final documents in their email at the 6 week mark and as soon as each party returns their documents the file can close. Some listings might say "can close 7/15/11" and if you purchase a contract such as this it will not close until that date and that is advertised on those listings.
At The Timeshare Store, Inc.® the only property that Disney seems to be buying back is Beach Club Villas and that is if it sells for $83 per point or less (although that isn't always the case as they recently waived on a Beach Club at $81 per point). If Disney does buy the property back the buyer is refunded 100% of their funds.
When buying through The Timeshare Store, Inc.® you are also guaranteed to get the points that are in the contract. Clause # 9 in our contracts states exactly what is in the account at the time you purchase and will watch the paragraph you see on the internet regarding the current status of the points. If clause # 9 does not match correctly then Disney will kick the contract back until they have a signed addendum from buyer and seller showing the change. ROFR is actually to protect the buyer as The Timeshare Store, Inc.® simply can't make up the points that the buyer is getting. It has to match the points activity statement that Disney provides us when we market the property.
Now we have run into situations where the buyer ends up getting 100% of the money back because we have run into sellers who can't get their final documents back. In 2010 The Timeshare Store, Inc.® sold a little over 1800 contracts and less than 6 contracts had this issue. Examples that have happened include where the only seller on a deed dies during the closing. These require a certification of appointment of administrator which can take a long time and typically the buyers don't want to wait. We also have run into situations where the sellers start the process of getting a divorce after selling and now they can't come together on choosing to both sell. This is where we have majority of the problems. When these contracts can't close it is very frustrating to the buyer which I totally understand.
Jason
