Resale time frames

[kurlyred]

We made an offer, and had it accepted on 10/17. We faxed back our contract on 10/18. Today is 10/26, and the response from Fidelity is that, "we are working through the mail with the seller" so they still do not have the contract signed on the seller's end.

We were HOPING to have this closed in time to book SOMETHING/ANTYHING for February.

Is this taking a really long time, or am I just being impatient? Fidelity can't even tell me where we are at with the Sellers other than, "...will call them again."

AACK

-KJ

 

[G'sMaman]

We made an offer, and had it accepted on 10/17. We faxed back our contract on 10/18. Today is 10/26, and the response from Fidelity is that, "we are working through the mail with the seller" so they still do not have the contract signed on the seller's end.

We were HOPING to have this closed in time to book SOMETHING/ANTYHING for February.

Is this taking a really long time, or am I just being impatient? Fidelity can't even tell me where we are at with the Sellers other than, "...will call them again."

AACK

-KJ

I feel your pain! We made an offer back in late July and we are still waiting to close (should be any day now or so I'm told) and then we still have to wait for the points to hit our DVC account. Most of the delay was due to the seller not returning paperwork on time. After Disney declined to excercise ROFR, it took the seller weeks to send in the final closing documents - probably because the documents had to be notarized. The irony is that they are now wondering why we haven't closed yet.

 

[kurlyred]

OH MY GOSH...I am so sorry to hear that. It feels/seems like we are on that path, as well... STILL NO WORD, and Fidelity's response was that they talked with the seller, seller sent it back, but they use three day priority, so there is this time delay. We are on Day 10 now, and can't back out. SOOOO...I guess I just have to learn to relax and go with the flow!

 

[Breyean]

OH MY GOSH...I am so sorry to hear that. It feels/seems like we are on that path, as well... STILL NO WORD, and Fidelity's response was that they talked with the seller, seller sent it back, but they use three day priority, so there is this time delay. We are on Day 10 now, and can't back out. SOOOO...I guess I just have to learn to relax and go with the flow!

Don't these sellers drive you crazy? Why don't they want their money ASAP?

I had the same thing with Fidelity. Offer accepted 10/19; we got the contract via email on 10/21 and faxed them back on 10/24 (Monday).

Yesterday, 10/27, I called Fidelity to see what was happening with the sellers. Turns out they had signed the contracts but not returned them! After the call from Fidelity they faxed them and we went to ROFR yesterday.

We're going to be selling a contract (assuming we don't get ROFR'd a second time on this new contract) and I know we are going to have those contracts returned right away. I don't know why people wait.

 

[G'sMaman]

Don't these sellers drive you crazy? Why don't they want their money ASAP?

I had the same thing with Fidelity. Offer accepted 10/19; we got the contract via email on 10/21 and faxed them back on 10/24 (Monday).

Yesterday, 10/27, I called Fidelity to see what was happening with the sellers. Turns out they had signed the contracts but not returned them! After the call from Fidelity they faxed them and we went to ROFR yesterday.

We're going to be selling a contract (assuming we don't get ROFR'd a second time on this new contract) and I know we are going to have those contracts returned right away. I don't know why people wait.

I saw your new VGC contract and just wanted to wish you lots of pixie dust. The contract we're waiting on is a VGC resale that we purchased because of the long wait list to buy direct. We've been on the wait list for a June use year for over 4 months and as of yesterday we are (still) number 4. It seems in either scenario I can't get anyone to take my money!

 

[Foobus]

The latest update in the continuing story of our incredibly slow process:

8/24 made offer/accepted.
8/29 Sent to ROFR
9/21 Passed ROFR (23 days)
10/11 Received/returned closing documents/payment (20 days)
10/31 Notified of closing (20 days)

While many of you are reporting that points/accounts are appearing in 3-4 days after closing, at 69 days into the process I'm quite sure it will be at least 11/20 (20 days from now) before I see any points....

 

[kurlyred]

It is odd that, especially in this economy, there is little urgency when we want to give them money.

Latest from Fidelity was that they should have received it on Friday, but it wasn't there, so they would call the sellers again.

I am NOT liking this game, not one bit. HAARUMPH! Temper tantrum over. I guess I better start looking for alternative lodging for FEB, 'cuz I am pretty certain there isn't going to be much DVC option, at this point...

Will keep my fingers crossed for both of you, Breyean and G'sMaman!

-KJ

 

[Breyean]

I saw your new VGC contract and just wanted to wish you lots of pixie dust. The contract we're waiting on is a VGC resale that we purchased because of the long wait list to buy direct. We've been on the wait list for a June use year for over 4 months and as of yesterday we are (still) number 4. It seems in either scenario I can't get anyone to take my money!

Well, you might be getting a call soon. Let me tell you what happened to me last time I bid on a resale at VGC. I was also on the June wait list with Disney and my guide said it w/b quite a while.

Then my resale got ROFR'd. Guess who called me THAT NIGHT? My guide! He said points were coming in soon, and how many did I want (we had given him a range for the wait list).

That Sunday, he called to tell me my points were ready. So, as near as I could tell, that week by pure coincidence I had my contract bought back, then offered to me by Disney at the low low price of $120/point.

I have a feeling my current contract is too low again, and will once again be bought back. Maybe YOU'LL get a call that night with your points ready to go!

That same week, another poster here (Homemom) also had her VGC resale ROFR'd. The funny thing was, both of us were on the Disney wait list, so we started wondering if that might have pushed the decision to buy the contracts back. Now in my case, the contract I bid on was ridiculously low, but Homemom's was for a HIGHER price than other contracts that passed at the same time. So maybe they needed her UY really badly, or maybe they knew we were on the wait list. Who knows.

I hope it works out for all of us waiting now.

 

[raftislander]

That same week, another poster here (Homemom) also had her VGC resale ROFR'd. The funny thing was, both of us were on the Disney wait list, so we started wondering if that might have pushed the decision to buy the contracts back. Now in my case, the contract I bid on was ridiculously low, but Homemom's was for a HIGHER price than other contracts that passed at the same time. So maybe they needed her UY really badly, or maybe they knew we were on the wait list. Who knows.

I hope it works out for all of us waiting now.

My offer on VGC was sent to Disney on October 4 and still have not heard on the ROFR. Time frames on the first part of the process were very short- a few days for offer/acceptance and contract sent to Disney for ROFR. Looking at what happened to Homemom I figure my offer, which is similar, has a 50/50 chance. I am not on a waitlist, so I hope you speculation that this may affect their decision on ROFR is correct!

Hang in there Breyean and good luck.... I find myself checking my email waaaaay too often

 

[G'sMaman]

I have a feeling my current contract is too low again, and will once again be bought back. Maybe YOU'LL get a call that night with your points ready to go!

Now, that is a funny story! I just got an email today saying that my VGC deed has been recorded and so now we have to wait for the recorded deed to come back to the title company so they can forward it to Disney. The points should be in my account shortly thereafter. I'm guessing another couple of weeks before I actually take possession of the points. Since my contract has technically closed, I have taken myself off the VGC waitlist. Hopefully, that will be one less reason for Disney to exercise ROFR on your offer!

 

[Song of the South]

We had a really quick process from 9/26 offer to making reservations yesterday, 10/31. But it occurs to me that in this economy if people are selling and have loans that they may be having to come to the closing table with cash to pay of the difference between the loan and selling price. This could be causing some of the delays in getting paperwork finished on the sellers end. No matter how happy one might be to have sold one may be less than plussed at having to give a loan company thousands. I wish loads of pixiedust for y'all waiting for VGC and to make reservations on your soon-to-be closed and closed contracts!!!


SotS

 

[kurlyred]

FINALLY, contract received from seller and we were sent to Disney for ROFR...could use some pixie dust on this end. Hoping it doesn't sit there forever as well...

 

[G'sMaman]

That is great great news! We also got some good news. We received an email that our VWL offer passed ROFR today. It was submitted on 10/11 so it took about 21 days. I hope you get a speedy response!

 

[kurlyred]

CONGRATS, G'sMaman!!!!!!!! That is AWESOME for you! Happy Disney'ing with your new contract.

-KJ

 

[kcount]

In your opinion, what is the best Resort to purchase from? We are looking to buy. Thank you!

 

[Foobus]

More waiting for us! The timeline so far:

8/24 made offer/accepted.
8/29 Sent to ROFR
9/21 Passed ROFR (23 days)
10/11 Finally received and returned closing documents/payment (20 days)
10/31 Notified that closing occurred 10/28 (20 days)

I called today to Member Administration, and was told (despite most reports recently) that it will take 2-3 weeks to get into the system. The CM took my name (no SS# or any other information) then told me about 5 seconds later that I wasn't in the system, and to call back in 2 weeks.

I guess that there is some cosmic symmetry that every step in this process is taking us 20+ days when many folks report 4-5 days for the same steps.

 

[lionqueen]

More waiting for us! The timeline so far:

8/24 made offer/accepted.
8/29 Sent to ROFR
9/21 Passed ROFR (23 days)
10/11 Finally received and returned closing documents/payment (20 days)
10/31 Notified that closing occurred 10/28 (20 days)

I called today to Member Administration, and was told (despite most reports recently) that it will take 2-3 weeks to get into the system. The CM took my name (no SS# or any other information) then told me about 5 seconds later that I wasn't in the system, and to call back in 2 weeks.

I guess that there is some cosmic symmetry that every step in this process is taking us 20+ days when many folks report 4-5 days for the same steps.

sorry to hear that foobus. it's so weird because our ROFR took alot longer than yours but everything else has been much quicker. we got a letter in the mail about a week after sending the closing documents with our member number and said it would take about 4 weeks to get our cards but a week later we got our cards. here's to hoping things get a little faster for you

 

[Foobus]

sorry to hear that foobus. it's so weird because our ROFR took alot longer than yours but everything else has been much quicker. we got a letter in the mail about a week after sending the closing documents with our member number and said it would take about 4 weeks to get our cards but a week later we got our cards. here's to hoping things get a little faster for you

Yeah - you got out of ROFR a few days after us, but since then every step has been brutally slow. You've been closed for what several weeks? Back in August when we made the offer, it seemed pretty likely that we'd be able to replace the PORS cash reservations we have for the weekend of Jan 20th with a DVC stay - as most folks seemed to think it would take 5-6 weeks for the process, 2 months at the worst. But as we creep towards thanksgiving 72 days later I'm getting worried that anything will be left for us.... And so far the broker and the closing agents admit to no "problems" or unusual situations behind the delays, it's just taking a long time. Oh well, probably by Tuesday or Wednesday it'll all be over.....

 

[ovalhead96]

More waiting for us! The timeline so far:

8/24 made offer/accepted.
8/29 Sent to ROFR
9/21 Passed ROFR (23 days)
10/11 Finally received and returned closing documents/payment (20 days)
10/31 Notified that closing occurred 10/28 (20 days)

I called today to Member Administration, and was told (despite most reports recently) that it will take 2-3 weeks to get into the system. The CM took my name (no SS# or any other information) then told me about 5 seconds later that I wasn't in the system, and to call back in 2 weeks.

I guess that there is some cosmic symmetry that every step in this process is taking us 20+ days when many folks report 4-5 days for the same steps.

I would keep trying. I was told the same thing by a cm, and the points were there the next day. I would guess Monday at the latest.

Good luck, and let me know how it worked out.

 

[lionqueen]

Yeah - you got out of ROFR a few days after us, but since then every step has been brutally slow. You've been closed for what several weeks? Back in August when we made the offer, it seemed pretty likely that we'd be able to replace the PORS cash reservations we have for the weekend of Jan 20th with a DVC stay - as most folks seemed to think it would take 5-6 weeks for the process, 2 months at the worst. But as we creep towards thanksgiving 72 days later I'm getting worried that anything will be left for us.... And so far the broker and the closing agents admit to no "problems" or unusual situations behind the delays, it's just taking a long time. Oh well, probably by Tuesday or Wednesday it'll all be over.....

We got our letter with member number on 10/17 so i'm assuming we were in the system before that and had our cards less than a week later! hope you can find a room for you trip