saintstickets
DIS Veteran
- Joined
- Aug 30, 2009
- Messages
- 2,860
For whatever it is worth, here are the timelines for our 3 DVC purchases via the resale market. There was no preference for a broker. The broker chosen was the one that had a contract/UY we wanted at the time that we were looking to buy and a price that was agreed upon by the seller. The title company is the one the broker was using at the time of the purchase. We have since found out you can request a specific title company should you so desire. We have tried to purchase other small contracts from two brokers that are not mentioned here (The Timeshare Store & DVC by Resale) but either the point/UY were not what we wanted, the seller would not agree to our price or the broker's agent was not to our liking. We would not hesitate to use The Timeshare Store on a future purchase. The name of the broker is not mentioned on the first purchase at the behest of DISboards.
1st purchase - OKW
Broker - Name not mentioned. She and her son operate this company
Title Co - Timeshare Title & More (TT&M-Brenda)
9/20/09 - Made offer $2/pt less than list price, buyer pays closing, seller pays current year MF.
9/21/09 - Offer accepted.
9/22/09 - Received contract via email.
9/23/09 - Faxed signed contract. FedEx'd deposit.
9/24/09 - TT&M sent email acknowledging receipt of deposit and a copy of the sellers signed contract.
10/17/09 - Rec'd phone call from broker (Saturday) saying we passed ROFR.
10/30/09 - Rec'd closing docs from TT&M via email. Signed and sent final payment back via FedEx.
11/12/09 - TT&M rec'd closing docs from seller.
11/17/09 - TT&M closed sale and sent deed to Disney.
11/20/09 - Disney updated their records and our points are in their system.
2nd purchase - BWV
Broker - Fidelity (Rachel)
Title Co - First American Title (FAT)
2/03/10 - Made offer below list price. Sales price not negotiable. Agreed to list price, buyer pays closing & current year MF.
2/04/10 - Rec'd contract via email.
2/05/10 - Faxed signed docs back with authorization to pay deposit via credit card. Rec'd email acknowledging receipt.
2/09/10 - Fidelity rec'd sellers signed docs and submitted to Disney.
3/04/10 - Rec'd email saying we passed ROFR.
3/12/10 - Sent email to Fidelity asking for status of closing docs. No response.
3/15/10 - Called Fidelity and left message with Rachel asking for closing docs status. No response.
3/16/10 - Sent email to Manager @ Fidelity asking for status of closing docs and stated previous 2 attempts to contact were not answered. Rec'd phone call from Rachel saying the closing docs had been "snail" mailed by title company. I asked to what address since I had not rec'd anything and they had used an incorrect spelling of our street name. I requested closing docs be sent via email. Rec'd closing docs within an hour. Faxed back signed closing docs and sent final payment via wire transfer. FAT closed the sale and sent deed to Disney.
3/19/10 - Disney updated their records and our points are in their system. Checked the Orange Co, FL Comptroller's website and FAT had recorded deed with incorrect address. Contacted FAT to correct their error.
3/24/10 - FAT notified me that they had sent revised deed to recorder's office to change address.
4/01/10 - FAT emailed copy of recorded deed with correct address.
3rd purchase - VWL
Broker - Fidelity (Sharon)
Title Co - TT&M (Nancy)
2/23/11 - Made offer $10/pt less than list price, buyer pays closing, seller pays current year MF. Rec'd call back from Sharon @ Fidelity within 30 minutes saying offer was accepted.
2/28/11 - Sharon called asking if I had rec'd contract. They had been sending to an incorrect email address. She changed email address and rec'd contract.
3/01/11 - Faxed signed docs back with authorization to pay deposit via credit card. Rec'd email acknowledging receipt.
3/04/11 - Rec'd email from Fidelity that they had rec'd signed docs from seller and the contract was submitted to Disney.
3/09/11 - Rec'd email copy of sellers signed contract.
3/24/11 - Contacted Fidelity for update status and was told we passed ROFR that day and should receive closing docs within 15 days.
4/07/11 - It has been 15 days so contacted Fidelity for closing status. They said they were running behind and we should receive closing docs next week.
4/14/11 - Called Sharon for closing status. She contacted TT&M while on phone and gave me the name of the person processing the title. Sent Nancy @ TT&M email stating we were trying to book a reservation before AP's expired May 25th. Rec'd email from Nancy stating she would pull our contract and process it Saturday.
4/16/11 - Rec'd closing docs from TT&M (Saturday). Sent back saying DW's name was spelled incorrectly. Rec'd revised closing docs within 30 minutes.
4/18/11 - Faxed signed closing docs and instructions to wire transfer final payment.
4/20/11 - Rec'd email acknowledging receipt of closing docs and wire transfer.
4/24/11 - Emailed TT&M asking if they had rec'd closing docs from seller.
4/25/11 - Rec'd email from TT&M saying they had rec'd sellers closing docs and were waiting for an update from Disney.
4/28/11 - Emailed TT&M asking for status update. Nancy said contract would be closed today. Rec'd email later saying that she did not catch error on seller's closing docs and would have to get them to resubmit.
5/02/11 - Emailed TT&M asking for status update. Nancy said they rec'd the revised seller's closing docs and had sent to Disney again for another update. She expects to close tomorrow.
5/03/11 - Rec'd email from TT&M saying they closed the transaction and the deed was faxed to DVC requesting they expedite the transfer.
5/04/11 - Called DVC to see if deed rec'd and transfer processed. Kevin @ DVC Member Accounting checked and said seller's current year MF's had not been paid. He contacted TT&M while on the phone and was told that they were sending payment today.
5/05/11 - Called DVC. Was transferred to a different office that handled resales. Was transferred back to Member Accounting. Was told the transfer was in process but I needed to leave a message with Carol and she would call me back. Left message that morning with Carol. No response.
5/06/11 - Called DVC. Spoke with Kevin again. He checked and said payment had been rec'd for MF and transferred me to Tammie. Tammie walked everything through while we were on the phone. She said I should receive an email within 30 minutes with our new member number (this contract has a different UY) and contract number and that our MSM number/Club ID would remain the same. She said it usually takes 24 to 48 hours for Member Services to load the points but she would request they rush it through since I was trying to book a reservation for this month. Within 30 minutes I rec'd an email from Tammie. I checked online and our account had been updated with the new contract added. I called to make a reservation and nothing was available.
As you can see, the time frame for each purchase varied. The first two took 60 & 58 days from offer made to points in Disney's system but the title companies took 33 & 15 days from passing ROFR to points in system. This last purchase took 72 days in total and the title company took 43 days after passing ROFR but the seller was a factor even though the title company should have noticed the seller's error earlier. The seller has to get their closing docs notarized and witnessed where the buyer only has to get theirs witnessed so that can be a delay. I have to wonder though when the title company says they are waiting on the seller. If I am the seller, I can't imagine not doing everything possible to expedite the process. The only advice I can give those still waiting or thinking about buying via resale is to be patient and be nice. It's perfectly acceptable to contact the broker and title company often but never demanding, always inquiring as to the status. There are a lot of human beings involved in the process and we are all prone to error as you can see from our experiences. Once you are in the system and begin making reservations, the angst felt through the purchase process will be mostly forgotten....until you get the dreaded "addonitis" that is!
BTW, where is that latest listing from The Timeshare Store? Do they have a contract with my UY? 
1st purchase - OKW
Broker - Name not mentioned. She and her son operate this company
Title Co - Timeshare Title & More (TT&M-Brenda)
9/20/09 - Made offer $2/pt less than list price, buyer pays closing, seller pays current year MF.
9/21/09 - Offer accepted.
9/22/09 - Received contract via email.
9/23/09 - Faxed signed contract. FedEx'd deposit.
9/24/09 - TT&M sent email acknowledging receipt of deposit and a copy of the sellers signed contract.
10/17/09 - Rec'd phone call from broker (Saturday) saying we passed ROFR.
10/30/09 - Rec'd closing docs from TT&M via email. Signed and sent final payment back via FedEx.
11/12/09 - TT&M rec'd closing docs from seller.
11/17/09 - TT&M closed sale and sent deed to Disney.
11/20/09 - Disney updated their records and our points are in their system.
2nd purchase - BWV
Broker - Fidelity (Rachel)
Title Co - First American Title (FAT)
2/03/10 - Made offer below list price. Sales price not negotiable. Agreed to list price, buyer pays closing & current year MF.
2/04/10 - Rec'd contract via email.
2/05/10 - Faxed signed docs back with authorization to pay deposit via credit card. Rec'd email acknowledging receipt.
2/09/10 - Fidelity rec'd sellers signed docs and submitted to Disney.
3/04/10 - Rec'd email saying we passed ROFR.
3/12/10 - Sent email to Fidelity asking for status of closing docs. No response.
3/15/10 - Called Fidelity and left message with Rachel asking for closing docs status. No response.
3/16/10 - Sent email to Manager @ Fidelity asking for status of closing docs and stated previous 2 attempts to contact were not answered. Rec'd phone call from Rachel saying the closing docs had been "snail" mailed by title company. I asked to what address since I had not rec'd anything and they had used an incorrect spelling of our street name. I requested closing docs be sent via email. Rec'd closing docs within an hour. Faxed back signed closing docs and sent final payment via wire transfer. FAT closed the sale and sent deed to Disney.
3/19/10 - Disney updated their records and our points are in their system. Checked the Orange Co, FL Comptroller's website and FAT had recorded deed with incorrect address. Contacted FAT to correct their error.
3/24/10 - FAT notified me that they had sent revised deed to recorder's office to change address.
4/01/10 - FAT emailed copy of recorded deed with correct address.
3rd purchase - VWL
Broker - Fidelity (Sharon)
Title Co - TT&M (Nancy)
2/23/11 - Made offer $10/pt less than list price, buyer pays closing, seller pays current year MF. Rec'd call back from Sharon @ Fidelity within 30 minutes saying offer was accepted.
2/28/11 - Sharon called asking if I had rec'd contract. They had been sending to an incorrect email address. She changed email address and rec'd contract.
3/01/11 - Faxed signed docs back with authorization to pay deposit via credit card. Rec'd email acknowledging receipt.
3/04/11 - Rec'd email from Fidelity that they had rec'd signed docs from seller and the contract was submitted to Disney.
3/09/11 - Rec'd email copy of sellers signed contract.
3/24/11 - Contacted Fidelity for update status and was told we passed ROFR that day and should receive closing docs within 15 days.
4/07/11 - It has been 15 days so contacted Fidelity for closing status. They said they were running behind and we should receive closing docs next week.
4/14/11 - Called Sharon for closing status. She contacted TT&M while on phone and gave me the name of the person processing the title. Sent Nancy @ TT&M email stating we were trying to book a reservation before AP's expired May 25th. Rec'd email from Nancy stating she would pull our contract and process it Saturday.
4/16/11 - Rec'd closing docs from TT&M (Saturday). Sent back saying DW's name was spelled incorrectly. Rec'd revised closing docs within 30 minutes.
4/18/11 - Faxed signed closing docs and instructions to wire transfer final payment.
4/20/11 - Rec'd email acknowledging receipt of closing docs and wire transfer.
4/24/11 - Emailed TT&M asking if they had rec'd closing docs from seller.
4/25/11 - Rec'd email from TT&M saying they had rec'd sellers closing docs and were waiting for an update from Disney.
4/28/11 - Emailed TT&M asking for status update. Nancy said contract would be closed today. Rec'd email later saying that she did not catch error on seller's closing docs and would have to get them to resubmit.
5/02/11 - Emailed TT&M asking for status update. Nancy said they rec'd the revised seller's closing docs and had sent to Disney again for another update. She expects to close tomorrow.
5/03/11 - Rec'd email from TT&M saying they closed the transaction and the deed was faxed to DVC requesting they expedite the transfer.
5/04/11 - Called DVC to see if deed rec'd and transfer processed. Kevin @ DVC Member Accounting checked and said seller's current year MF's had not been paid. He contacted TT&M while on the phone and was told that they were sending payment today.
5/05/11 - Called DVC. Was transferred to a different office that handled resales. Was transferred back to Member Accounting. Was told the transfer was in process but I needed to leave a message with Carol and she would call me back. Left message that morning with Carol. No response.
5/06/11 - Called DVC. Spoke with Kevin again. He checked and said payment had been rec'd for MF and transferred me to Tammie. Tammie walked everything through while we were on the phone. She said I should receive an email within 30 minutes with our new member number (this contract has a different UY) and contract number and that our MSM number/Club ID would remain the same. She said it usually takes 24 to 48 hours for Member Services to load the points but she would request they rush it through since I was trying to book a reservation for this month. Within 30 minutes I rec'd an email from Tammie. I checked online and our account had been updated with the new contract added. I called to make a reservation and nothing was available.
As you can see, the time frame for each purchase varied. The first two took 60 & 58 days from offer made to points in Disney's system but the title companies took 33 & 15 days from passing ROFR to points in system. This last purchase took 72 days in total and the title company took 43 days after passing ROFR but the seller was a factor even though the title company should have noticed the seller's error earlier. The seller has to get their closing docs notarized and witnessed where the buyer only has to get theirs witnessed so that can be a delay. I have to wonder though when the title company says they are waiting on the seller. If I am the seller, I can't imagine not doing everything possible to expedite the process. The only advice I can give those still waiting or thinking about buying via resale is to be patient and be nice. It's perfectly acceptable to contact the broker and title company often but never demanding, always inquiring as to the status. There are a lot of human beings involved in the process and we are all prone to error as you can see from our experiences. Once you are in the system and begin making reservations, the angst felt through the purchase process will be mostly forgotten....until you get the dreaded "addonitis" that is!
BTW, where is that latest listing from The Timeshare Store? Do they have a contract with my UY? 
It seems to take forever.
!
