Resale Contract Closed, but not getting contracted loaded until after 7/8/2022 over 60 days from closing? Advise wanted

[LadybugsMum]

The VGF contract I bought just closed recently. How soon would it show up on here?

My VGF contract closed on 4/6 and the deed was recorded on 4/12. So it can take a few days.

 

[xdan0920]

This is all so much.

Seems simple to me. If this is closed. It’s closed. Disney needs to transfer ownership, and that trip gets canceled. End of story.

 

[RoseGold]

The fact that the title company actually closed the contract leads me to believe that someone wasn’t upfront about the reservation and it was discovered after.

The title company pulls the point allocation at close to make sure they match the contract. This whole story makes no sense to me. I guess it's possible the whole trip was booked after the close, which obviously the title company couldn't see.

I'm more interested in what was submitted to Disney after the fact...

 

[lpereira]

I couldnt go past the first page because Im still stuck on seller paying maintenance fees on points he no longer owns and got his last trip will somehow faithfully still pay on time monthly. Be prepared to stop your contract from being forclosed on by Disney.

 

[Sandisw]

The title company pulls the point allocation at close to make sure they match the contract. This whole story makes no sense to me. I guess it's possible the whole trip was booked after the close, which obviously the title company couldn't see.

I'm more interested in what was submitted to Disney after the fact...

Actually, the title companies that I worked with recently no longer do it themselves...I provided it to them...and its possible that this trip was booked earlier when this went for sale and that the owners moved it to July at some point. Or, it was assumed it would never pass and get closed quick enough that disclosing the trip wasn't needed.

The fact that the title company actually closed it and sent paperwork as early as they did leads me strongly to believe it wasn't part of the original deal. I have been through too many that there is no way to miss it is a delayed closing. One of the last contracts I sold actually had a delayed closing on it because I thought a trip I was taking was on that contract. It wasn't until a month after we passed ROFR (and two months from the trip) that I realized it was on my other membership when I canceled it figuring that my buyers would be getting a windfall. So even then, neither of us caught that it wasn't showing up on the contract I was selling because the points matched what I had.....and what was in the contract.

MA seems to have confirmed with the OP that they see the contract has been closed...title company didn't hold back paperwork...but are allowing this to stay pending and let the previous owners still travel.....

 

[Sandisw]

I couldnt go past the first page because Im still stuck on seller paying maintenance fees on points he no longer owns and got his last trip will somehow faithfully still pay on time monthly. Be prepared to stop your contract from being forclosed on by Disney.

The contract has already closed...that can't happen until all fees are paid to Disney...so there will be no outstanding MF's any longer....that is what estoppel does...it ensures that all MF's are paid up to date and no financing in place...or, if there is, what the balance is that will be paid off to Disney before proceeds are sent to the seller.

No risk of any foreclosure by Disney

 

[Robbie Cottam]

The OP talked to MA who confirmed that the title company sent over the documents saying the contract was closed. So, MA knows it’s been done…that is not in dispute.

I have done several delayed closings and in all cases, nothing was sent to MA until my trips were done and we officially closed the same day as check out.

Closing documents have always mentioned the delayed close as well so it’s not just a date, its clear that buyer recognizes ownership won’t take place until later.

I sold a contract in March with a closing date of May 21st and we had no reservation so having a date farther out doesn’t mean anything. It’s whether it was disclosed to the buyer. The fact that the title company actually closed the contract leads me to believe that someone wasn’t upfront about the reservation and it was discovered after.

Maybe the owner moved the trip after the deal was done to July and never told anyone either.

ETA: Also, with a delayed closing, paperwork has never been sent until 2 weeks prior to the expected date. I have been through 4…two as buyer and two as seller.

Great, with a delayed closing the paper must state the actual date of the closing.

Both parties must agree to the delayed closing and the title can not transfer prior to the actual closing date.

In this case none or little of that occurred.

Without going back I believe the OP said this trip had been on the books for sometime.

Lastly, pending, as far as I can find, is only a thing when the Disney is notified of a delayed closing. Not when a deed has transferred and has already been recorded.

Think I have said a few time, I would love to see the paper that was submitted to DVC MA by the broker. I’m curious to know what is listed as the closing date, because everything, both of the guides I have used as well as a few members of member admin have told me over the last decade or so, is once the deal closes the previous owner is removed and the new owners paper work is processed.

The only caveat to that is when the deed is transferred from a married couple to just one of the couple as the result of a divorce. In that case the other party is just removed from the membership and nothing changes for the retaining party.

 

[Sandisw]

Great, with a delayed closing the paper must state the actual date of the closing.

Both parties must agree to the delayed closing and the title can not transfer prior to the actual closing date.

In this case none or little of that occurred.

Without going back I believe the OP said this trip had been on the books for sometime.

Lastly, pending, as far as I can find, is only a thing when the Disney is notified of a delayed closing. Not when a deed has transferred and has already been recorded.

Think I have said a few time, I would love to see the paper that was submitted to DVC MA by the broker. I’m curious to know what is listed as the closing date, because everything, both of the guides I have used as well as a few members of member admin have told me over the last decade or so, is once the deal closes the previous owner is removed and the new owners paper work is processed.

The only caveat to that is when the deed is transferred from a married couple to just one of the couple as the result of a divorce. In that case the other party is just removed from the membership and nothing changes for the retaining party.

Unless I misunderstood, the OP didn't find out that this trip was on the books for July until they inquired why it had been almost a month and nothing had been transferred to them...it is then they found out about the delayed closing...the contract didn't include the points being used for this trip, but there seems have been no mention that they were tied to a July trip and that closing would not happen until then.

In my cases...it could be different now...MA wasn't even notified about the sale until we closed it. The only ones who knew it was a delayed closing was DVD during ROFR process (since it was in the paperwork it is a delayed closing due to a reservation), the broker, the title company, and the buyer/seller. There was no need to notify MA because nothing was going to be done until the reservation ended...so this pending piece is not something that happened for me.

When we passed ROFR, I got a notice from the title company saying that I would receive papers about 2 weeks prior to the delayed date (ie: we were closing end of November and the email said, you will receive your closing documents about 2 weeks prior in the beginning of November) ...it just seems strange to me that given how often the title company deals with delayed closing that they would have sent things so early and closed it early.

We know MA is slow to transfer the contract from one owner to the next...it can take time...I still have the SSR contract DVD took in ROFR that had the deed recorded on 5/31...its no longer mine but I could still book a trip with it if I wanted to since its still in my account...

Its just a pretty crazy situation...

 

[brazzledazzler]

Normally title is not transferred until after the reservation so I don’t agree DIsney considers it still their contract.

I’d still reach out to MA and ask them to verify for you what you are being told in terms of liability and the date they received paperwork from the title company.

Based on what happened, I’d want more than just title and brokers word for things. And, it’s not about the points, as you say, it’s about not being fisv

This is a big legal mess up. I would ask for everything in writing from the broker and title company.


You are liable for the reservation, also, it doesn’t sit well with me that you have property ownership but no access to it.

I hope you get this resolved in a way that’s amicable …also, I have would have no problem referring them to BBB or anywhere with public reviews.

I would also demand the commission and all fees from broker. This isn’t a $100 purchase you made, this is THOUSANDS of dollars.


A strongly worded letter from a real estate lawyer or social media can be a powerful tool to strong arm customer service—use it.

 

[Disneykate605]

I don't agree with this at all.

If the sellers made a sneaky reservation after close, the buyer gets paid for the point value and escrow takes it from the sales proceeds. It's in your contract because it's stealing.

I get the broker is saying some nonsense. I'm baffled Disney is allowing this. That's the part that makes no sense. I don't see how Disney can block a rightful, publicly recorded owner from doing whatever they want with their points.

From what I understand from the OP's post the points that are in the contract are the points he thought he was buying...not less than. I would imagine what happened is someone, somewhere along the line made a mistake ( be it either the seller not disclosing a previously booked trip for whatever reason or the broker forgetting to disclose it).
If I was the OP I wouldn't want to ruin someone's trip because of a misunderstanding but I would definitely expect some compensation because of it. The OP didn't feel robbed of points and seemed to have some time before they needed to use the contract. I understand the original nervousness but I would have felt more at ease after speaking to Disney. I kind of got the impression that someone explained the screw up to Disney and they were just trying to save the reservation. I'm not saying it's right but if I had the ability to help someone out and still let them take their trip and it didn't harm me in any way I would do it. I kind of feel like it was the broker who made the mistake because I don't feel like Disney or the broker would try to help out if it was the seller who made the mistake. Just my impression of the situation. I do think it would have been better for the broker/Disney to discuss it with the OP instead of trying to dance around it...but again I don't think the seller should have to pay for that mistake (assuming they were innocent in the mistake).
I definitely think someone owes the OP some compensation though!

 

[RoseGold]

If I was the OP I wouldn't want to ruin someone's trip because of a misunderstanding but I would definitely expect some compensation because of it.

The seller ruined their own trip. Maybe the seller decided not to disclose it, maybe not even to the broker/title company? Maybe the broker didn't disclose it? Or maybe the forms after the fact have a surprise that no one bothered to tell OP? Either way, this isn't OP's mistake.

If the seller wanted a delayed closing, they should have been upfront it like the dozens of listings every month that have a disclosed delayed closing.

This is like closing on selling your house and expecting to live in it a month. I don't care if it was your mistake or your realtor's. Get out of my house.

 

[Disneykate605]

The seller ruined their own trip. Maybe the seller decided not to disclose it, maybe not even to the broker/title company? Maybe the broker didn't disclose it? Or maybe the forms after the fact have a surprise that no one bothered to tell OP? Either way, this isn't OP's mistake.

If the seller wanted a delayed closing, they should have been upfront it like the dozens of listings every month that have a disclosed delayed closing.

This is like closing on selling your house and expecting to live in it a month. I don't care if it was your mistake or your realtor's. Get out of my house.

I'm just not so sure the sellers didn't disclose they had a trip coming up. Unfortunately, there's no way for any of us to know that with the info we currently have. It's definitely possible they did say they had a trip and the broker is the one who forgot to disclose that info. If the points in the account match what the OP thought they were getting I would think there's a big probability that the broker knew about the trip. I would definitely want to ask some more questions to fully understand the situation. If the points were less than what was on the contract I would definitely make a much bigger fuss about it and draw a line in the sand. All I'm saying is for me, personally, I would definitely need to think the seller was in the wrong before I demanded the trip be cancelled. I know the OP is innocent and it wasn't their mistake. I go to Disney often but that doesn't mean each trip isn't cherished so because of that I would assume the seller's trip would be very important to them. I would need to be sure it wasn't their fault before I argued to have it cancelled.
I definitely think the situation stinks and totally understand why the OP is upset, I would be annoyed as well. Thankfully the points that they thought they were buying are all there.
What happens if the OP forces the cancellation of the trip...is the seller than entitled to compensation because the OP would be getting more than what they paid for? I definitely think it stinks for all involved and hope it can be resolved in a satisfactory manner for all involved!
That's all I have to say on the situation.
Good luck OP!!

 

[DonMacGregor]

I'm just not so sure the sellers didn't disclose they had a trip coming up. Unfortunately, there's no way for any of us to know that with the info we currently have. It's definitely possible they did say they had a trip and the broker is the one who forgot to disclose that info.

If the seller disclosed the trip, it should have been delineated in the sales agreement (which the seller should most certainly have read, and obviously signed). If it wasn’t (which would also have meant the available points count would have been off), the seller should have seen it and not signed the sales agreement.

 

[Sandisw]

I'm just not so sure the sellers didn't disclose they had a trip coming up. Unfortunately, there's no way for any of us to know that with the info we currently have. It's definitely possible they did say they had a trip and the broker is the one who forgot to disclose that info. If the points in the account match what the OP thought they were getting I would think there's a big probability that the broker knew about the trip. I would definitely want to ask some more questions to fully understand the situation. If the points were less than what was on the contract I would definitely make a much bigger fuss about it and draw a line in the sand. All I'm saying is for me, personally, I would definitely need to think the seller was in the wrong before I demanded the trip be cancelled. I know the OP is innocent and it wasn't their mistake. I go to Disney often but that doesn't mean each trip isn't cherished so because of that I would assume the seller's trip would be very important to them. I would need to be sure it wasn't their fault before I argued to have it cancelled.
I definitely think the situation stinks and totally understand why the OP is upset, I would be annoyed as well. Thankfully the points that they thought they were buying are all there.
What happens if the OP forces the cancellation of the trip...is the seller than entitled to compensation because the OP would be getting more than what they paid for? I definitely think it stinks for all involved and hope it can be resolved in a satisfactory manner for all involved!
That's all I have to say on the situation.
Good luck OP!!

I have been through 4 delayed closing situations and it is pretty hard not to know…even if it was forgotten in the listing. Too many steps along the way that indicate it’s delayed.

Regardless of whose fault is is, the buyer expected to be able to use and book a trip now and not a month from now. The title company went ahead and closed the contract and sent it to Disney.

So, the OP is now legally the owner and should have the contract, There is no reason why MA can’t get it transferred and behind the sciences, transfer the sellers reservation to the new owner so that stays intact, but buyer has there contract. It’d be like having a guests reservation. This assumes it was not the seller who failed to disclose the dates of the trip accurately.

Now, had they not closed the contract and it was delayed, then it wouod be hard for the buyer, even if they were not notified but given how many times a title company deals with delayed closings, it’s hard to imagine they closed it early by mistake so something was not shared accurately.

Plus, we were told each time our documents would arrive 7 to 10 days before the trip so closing could happen when it ended,

If I am a seller with a trip and I get closing documents well over a month before the trip, I’d certainly be inquiring and not sending them back quickly so nothing messed with my trip.

 

[CarolMN]

Agree with @Sandisw - MA can fix this. OP isn't asking to cancel the seller's trip, - she just wants BOOKING ACCESS to a contract she legally owns. There may not be any points available until the 2024 use year, but those points can be borrowed NOW to book vacations in 2023. If this situation caused me to miss booking a popular time because I couldn't book I'd be livid.

IMO, the broker should at least return the admin fee - for doing a horrible job!

 

[JGINPL]

Agree with @Sandisw - MA can fix this. OP isn't asking to cancel the seller's trip, - she just wants BOOKING ACCESS to a contract she legally owns. There may not be any points available until the 2024 use year, but those points can be borrowed NOW to book vacations in 2023. If this situation caused me to miss booking a popular time because I couldn't book I'd be livid.

IMO, the broker should at least return the admin fee - for doing a horrible job!

I am trying to reach the Broker again since last Friday. I'm hoping to hear back today, or I will be sending an email to the broker and Disney and Bill at DVC. I'm hoping the Broker will explain more and will ask for a return of that admin fee, even though I had the seller pay the admin fee. But that is something good to ask for back.

 

[Sandisw]

I am trying to reach the Broker again since last Friday. I'm hoping to hear back today, or I will be sending an email to the broker and Disney and Bill at DVC. I'm hoping the Broker will explain more and will ask for a return of that admin fee, even though I had the seller pay the admin fee. But that is something good to ask for back.

I’d also talk to MA again and get the names of supervisors over there because ultimately, they are the ones who can help make this right for you if you want access to it.

Good luck!

 

[JGINPL]

I’d also talk to MA again and get the names of supervisors over there because ultimately, they are the ones who can help make this right for you if you want access to it.

Good luck!

Thanks! I reached out to the Title Company to see if there were any documents that were signed (Because none of mine said anything about a delayed transfer) discussing a delayed transfer. They wouldn't answer the question, and referred me back to the broker and agent. Which is weird being I paid for the service with the title company.

 

[Huskerpaul]

I agree with Sandi. Time to stop messing with the broker/title company and talk to Disney.

 

[RoseGold]

I don't know what you are really expecting from the broker right now. The documents are what they are -- except whatever they submitted to Disney, which I would very much like to see. At this point, it's not like they can do anything. MA either cancels the reservation or not. It's not like they can control that. But Disney can.