Resale - Consider Title Co. Carefully

LeighHop

Earning My Ears
Joined
Jun 10, 2009
Messages
34
Just a little vent here...

Hubby and I have been trying to finalize our first DVC purchase, 100 pts at SSR through a resale transaction. Having been through some troubles, I would suggest that anyone thinking of going through resale consider all the players carefully, including the title company.

We were happy with the communication we received from our agent, but as soon as the transaction was turned over to Timeshare Titles and More, we felt like we had fallen off the face of the earth. At no time during the process were we contacted by the closing agent. Two weeks after we had wired the money and faxed the signed paperwork, I emailed our closing agent. She informed me in one sentence that we had closed the previous day. That's it, no additional info.

I'll be honest; we were calling member services the next day and each day thereafter to see if we were in the system. (Trying to book a January vacation and we're antsy.) Finally today I called Member Administration and they told me everything was ready to go, they were just waiting on the money from the title company. Now, I know things take several days, but if I'm Disney, I'm taking care of the money the moment it comes in the door. Member Administration was very nice and suggested that I ask the title company to call them so they could sort things out.

I email our closing agent at Timeshare Titles and More, asking her kindly to please call Disney because they don't have our money. She responds back telling me it takes 10-14 business days for things to appear in the system and I need to be patient. I email back, insisting that she call because as we all know, mistakes do happen. No response. Finally, hubby emails her asking that she provide the info on when and how the money was sent.

Two hours later, she responds saying that Disney had applied the payment to another of the seller's accounts and that we will be in the system tomorrow. No apology, no nothing. Now, it could possibly have been Disney's error, but talk about poor customer service. It shouldn't take three emails to get someone to check on something for you. And how long might we have waited to find out about the error if we hadn't been persistent? I’m curious to know if they have any sort of reconciliation process after closing.

Bottom line: We did save money by going through resale, but it has cost a hell of a lot of patience. In the future, any small add-ons will be done though Disney and any larger contracts will be handled by another title company.
 
If you buy resale, why does money go to Disney? I thought it went to the seller.
 
I think there is a nominal fee (maybe 50 bucks) that Disney charges per transaction to make the system changes and send out the new membership packet.
 
I don't see how it is the closing companies fault, if in fact Disney did apply the payment to the wrong membership. Once a contract is closed, doesnt the responsibility of the closing company end? If the funds were indeed in Disney's hands it is Disney's responsibility.
 

I freely admit it could have been Disney's error; but I needed the help of the title company to find that out. It is also possible that the title company didn't tag the money correctly when they sent it over.

The main point to me was that their communication was lacking throughout the process. We did pay them for their services; I shouldn't have to contact them three times to confirm if they did actually send my money correctly. It appears that the money is not actually sent to Disney until after the transaction has "closed", so I do believe they have a responsibility to see that monies are applied correctly.

I think it is important for people buying resale to understand that there are several parties involved in the process and to be educated on all of them. We just went in and hoped for the best.
 
The Timeshare Store, Inc.® generally uses Magic Vacation Title to close their transactions. They specialize in one thing, Disney Vacation Club transfers.

Magic Vacation Title, LLC
7575 Dr. Phillips Blvd, Suite 390
Orlando, FL 32819
407-488-1330 Phone
407-488-1335 Fax
http://mvtservice.com/dnn/***/
 
The Timeshare Store, Inc.® generally uses Magic Vacation Title to close their transactions. They specialize in one thing, Disney Vacation Club transfers.

Magic Vacation Title, LLC
7575 Dr. Phillips Blvd, Suite 390
Orlando, FL 32819
407-488-1330 Phone
407-488-1335 Fax
http://mvtservice.com/dnn/***/

Please give us more information on this! I've purchased twice from TSS and it was always TCS that was used. Same company with a different name now? Or totally new??? While I always felt that TSS gave wonderful service I experienced similar issues to the OP with TCS (lost paperwork, things not sent after I'd been told they were, mistake on contract number which MS Accounting had to figure out for me, severe lack of communication) and if we do resale again, I would choose someone different. I'd be happy to hear that there is a new and different recommended closing company out there that is familiar with DVC. TIA
 
/
We used Timeshare,Title and More for two transactions last year (BCV and BWV) and it couldn't have been simpler. Wired money, closed, and were done. There wasn't a lot of communication,but this sort of transaction didn't really need much compared to, say, a true real estate transaction like a house purchase. I would definitely use them again.

Sounds like they didn't do a good job in your case, but they are capable of getting it right.

Cheers.
 
I typically use Timeshare Title and More for most of the Disney sales that I broker. I prefer them, as they will do a final point verification before sending any documents to Disney and disperse funds. The final point verification makes sure that the seller has not used the points after the closing documents have been prepared.

Jason or Moderator, correct me if I am wrong, but I don't believe Magic Vacation transfers does a final point verification. The verification protects the buyer.

The money being sent to Disney could also have been to pay off a mortgage.
 
Please give us more information on this! I've purchased twice from TSS and it was always TCS that was used. Same company with a different name now? Or totally new??? While I always felt that TSS gave wonderful service I experienced similar issues to the OP with TCS (lost paperwork, things not sent after I'd been told they were, mistake on contract number which MS Accounting had to figure out for me, severe lack of communication) and if we do resale again, I would choose someone different. I'd be happy to hear that there is a new and different recommended closing company out there that is familiar with DVC. TIA

The staff that handled the closings at Timeshare Closing Services now work at Magic Vacation Title. I wish your dealings would have been better. We also use Timeshare, Title and More for those buyers or sellers that prefer them. If you choose to purchase again we are more than happy to set you up with a different closing company.
 
I typically use Timeshare Title and More for most of the Disney sales that I broker. I prefer them, as they will do a final point verification before sending any documents to Disney and disperse funds. The final point verification makes sure that the seller has not used the points after the closing documents have been prepared.

Jason or Moderator, correct me if I am wrong, but I don't believe Magic Vacation transfers does a final point verification. The verification protects the buyer.

The money being sent to Disney could also have been to pay off a mortgage.

Seth. I believe that Magic Vacation Title will request a new Points Activity Statement at closing if the buyer requests. The Timeshare Store, Inc.® has not run into problems with sellers using their points (knock on wood) so, hopefully, that won't start now.
 
Seth. I believe that Magic Vacation Title will request a new Points Activity Statement at closing if the buyer requests. The Timeshare Store, Inc.® has not run into problems with sellers using their points (knock on wood) so, hopefully, that won't start now.

I am glad to hear that. I had 1 Disney and 2 Hiltons where the sellers stole the points. Luckily we caught them before money was transferred. For the Disney, we credited the buyer $10 per point for the missing points. For the Hiltons, Hilton was nice enough to cancel the reservation and return the points.
 



















DIS Facebook DIS youtube DIS Instagram DIS Pinterest

Back
Top