Resale closing wait timeline

[skierrob]

Now that Disney has waived their ROFR on my 30 point Old Key West purchase, I got the closing papers to sign from the title company (Timeshare Title and More, LLC) and sent them back today via Priority Mail along with the cashier's check for the purchase.

Question is, anyone have a good idea of how long it takes from here realistically? My agent at Dvcbyresale told me a rough estimate of 3 weeks, but maybe sooner.

What happens next with my purchase? I assume that the sellers also have to sign paperwork (not sure if they have to wait for mine to arrive back first), then Disney has work to do, and the county has work to do, right?

At what point do you think I'll be able to be 'seen' in the system so I can make a reservation for my first trip? Will I get a call from someone saying "you are now in the system as of this moment", or do I just call DVC occasionally to ask if I'm there yet? lol!

Also, how long do you think until I have my membership card so I can buy a Disneyland AP with the $20 discount? lol!

Thanks!

 

[cvjw]

Alot depends on how motivated your sellers are to get their papers signed and back to the closing company. We have had fast sellers and one slow seller. One of the contracts we bought had dues owed to Disney on it, so that also took longer. I just called my reseller occasionally to see if everything had been sent to Disney yet. When it went to Disney, it took about a week to be in the Disney system. Our membership cards came a little after we were in Disney's system.

 

[disneynutz]

We could guess based upon other experiences, but why not ask your questions to your Broker? They are the ones on the front line with Disney and they know the current closing times based upon many current closings.

Bill

 

[DenLo]

We bought a resale AKV in 2009. After completing ROFR (29days) here's the dates it took for each step. We got our signed final contract back to the title company within two days. Our rep at the TimeShare Store said the delay was because the sellers didn't return their signed contract for 2+ weeks.

October 6th - final contract signed and returned by us.
October 20 - closed
October 25 - points showed up on the member website.

 

[bookwormde]

If the seller sends their paperwork back right away you could be closed in less than a week. It typically takes DVC about a week to get the contract and points in.

You do not need your card to get and AP (or AP voucher) only your membership #.

bookwormde

 

[CarolMN]

The longest delays seem to be the result of sellers who are slow to return their paperwork.

If your seller is not a U.S. resident, it may take longer than expected. The papers must be notarized and my understanding is that is a much more difficult and expensive process in some non-U.S. countries.

 

[HeyMoe]

Disney waived their right of first refusal on the contract that we purchased on 12/3. We purchased through **********.com and we asked that they expedite the closing so that we could close on or before 12/15. We wanted this so we wouldn't have to pay the 2010 MFs all in advance but instead could set up monthly payments. Fortunately for us the seller was cooperative and got his stuff in right away. We were able to close on 12/14. The best part is that the points actually showed up in our account on 12/15.

 

[saintstickets]

Now that Disney has waived their ROFR on my 30 point Old Key West purchase, I got the closing papers to sign from the title company (Timeshare Title and More, LLC) and sent them back today via Priority Mail along with the cashier's check for the purchase.

Question is, anyone have a good idea of how long it takes from here realistically? My agent at Dvcbyresale told me a rough estimate of 3 weeks, but maybe sooner.

What happens next with my purchase? I assume that the sellers also have to sign paperwork (not sure if they have to wait for mine to arrive back first), then Disney has work to do, and the county has work to do, right?

At what point do you think I'll be able to be 'seen' in the system so I can make a reservation for my first trip? Will I get a call from someone saying "you are now in the system as of this moment", or do I just call DVC occasionally to ask if I'm there yet? lol!

Also, how long do you think until I have my membership card so I can buy a Disneyland AP with the $20 discount? lol!

Thanks!

Here is my timeline...
Realtor - **** & Jaki @ **********.com
Title Co - Timeshare Title & More, LLC
9/20/09 - Made offer via email
9/21/09 - Rec'd telephone call that offer was accepted
9/22/09 - Rec'd purchase documents & instructions via email
9/23/09 - Faxed signed documents to realtor; FedEx deposit to title company
9/24/09 - Rec'd email from title company that they have deposit
10/17/09 - Rec'd telephone call (Saturday) from Jaki saying we passed ROFR; title company to verify estoppel info; should take about 10 business days
10/30/09 - Rec'd closing documents from title company (10 business days!)
10/30/09 - FedEx'd final payment and signed closing documents to title company
11/11/09 - Rec'd notice from title company that seller is sending signed closing documents
11/17/09 - Rec'd notice from title company that transaction is closed and request forwarded to DVC to transfer deed
11/20/09 - Called Mbr Svcs and we are in the system with all points available. Made reservations for May, 2010! WOOHOO!!
60 days from offer to member - not bad, not bad at all!!
11/30/09 - Received DVC membership card from Disney

Once the title company gets the signed papers back from the seller, it goes pretty smooth then. You are at the mercy of how fast the seller does their part though. Good luck.