Resale time frames

[Foobus]

The continuing saga:

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)
11/7 Contract entered into the system, ID assigned (7 days)
11/9 Still waiting for points to be loaded (2 days and counting....)

77 days since making the offer. I'd hope the points will be loaded in the next few days, but we still have a chance for the 20 day quadrifecta (20+ days in ROFR, 20+ days to get closing papers. 20+ days to close, 20+ days to reservation), if they can push the loading of points for another week!

 

[Foobus]

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)
11/7 Contract entered into the system, membership ID assigned (7 days)
11/11 Points in the system! (4 days)

Total of 79 days between an accepted offer and having points in the system.

In talking to the broker and closing company, the first delay was in that the estoppel letter required for producing the closing documents reportedly didn't arrive from Disney for over 2 weeks after ROFR was waived. The closing agent thought perhaps in the end of the fiscal year rush someone at Disney misplaced the file until they were forced to call and ask again after 2 weeks (or the original letter was misplaced at the closing agents, and they had to replace it when they finally realized after 2 weeks).

The delay in actual closing seems to be two-fold. First the sellers were selling 2 contracts at the same time, and appear to have waited for both to be ready before going to a notary, then when it was discovered that they had filled out one form improperly, they had gone on vacation (ironically they had gone on vacation to Vermont, not far from where we live, and at the same time we had gone on vacation to the Orlando area, where I could have dropped into the closing office if need be) It took awhile to find the sellers on vacation and convince them to find a local notary and get the job redone.

When we started the process, back in the heat of late summer, I guessed that conservatively we could be done in 50 days or so, possibly faster. Long and short I'd say the lesson learned is that for every resale customer that flies through ROFR in 3 days and is closed and pointed in less that 2 weeks, there are folks like me where the process lingers into the months.

In any case, I was able to call Member Services this morning and replace the late January cash PORS room that we have squeezed the 5 members of the family into for years with a 2 bedroom villa at our new home resort OKW without a problem - so despite the interminable feeling 79 day process, the outcome is the same, and everything is good this morning!

 

[Song of the South]

So glad you got the reservation!!! Awesome!

Sorry it took so long! Have a great time in your new home!

SotS

 

[lionqueen]

glad to hear everything is finally done!!!

 

[saintstickets]

Here is our timeline for 2 small contract purchases we recently made...

BCV -
9/20/11 Offer accepted by seller
9/21/11 Received sales contract
9/28/11 Passed ROFR
10/05/11 Received closing docs from title company
10/13/11 Contract closed and sent to DVC
10/18/11 Points in system and listed online

BWV -
9/20/11 Offer accepted by seller
9/21/11 Received sales contract
10/04/11 Passed ROFR
10/07/11 Received closing docs from title company
10/14/11 Contract closed and sent to DVC
10/18/11 Points in system and listed online

 

[tiffrobyn]

Thought I'd share my resale time frame to help others know what to expect. We purchased 60 points at VWL from TTS.

10/7 - Offer accepted, rec'd and returned docs
10/8 - Sent to ROFR
11/2 - Passed ROFR
11/9 - Received closing docs
11/29 - Contract closed
12/2 - Name in system
12/4 - Points in account and first reservation made!

In all, almost two months.

 

[ffcheff]

Does it take disney longer to input a resale into the system if you are already a member and purchase the same use year? I called today one week after closing and they do not show my new contract in the system. Others have posted very fast entry into the system and I am just curious.

 

[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

Just contacted Rachel, at fidelity, to find out if we missed our announcement that Estoppels were taken care of...got the reply that the Title Company snail mailed us the contracts, we should have them by Friday.

Is it customary to snail mail this stuff? General rule of thumb...how much longer will I be waiting until the points in in my hot little hands???? This is taking SO MUCH LONGER than I had ever guessed...

-KJ

 

[GrnMtnMan]

Thought I'd share my resale time frame to help others know what to expect. We purchased 60 points at VWL from TTS.

10/7 - Offer accepted, rec'd and returned docs
10/8 - Sent to ROFR
11/2 - Passed ROFR
11/9 - Received closing docs
11/29 - Contract closed
12/2 - Name in system
12/4 - Points in account and first reservation made!

In all, almost two months.

How quickly after receiving the closing docs did you sign everything and get the funds to the title company? I'm at that stage (money and docs there) and was wondering how long to expect....

 

[tiffrobyn]

How quickly after receiving the closing docs did you sign everything and get the funds to the title company? I'm at that stage (money and docs there) and was wondering how long to expect....

I sent the signed docs and cashiers check the very next day but I know the sellers had to redo some docs for some reason. Nancy with *** told me she closes the contract as soon as she has everything from both parties.

 

[ffcheff]

Just made my reservation for june. A total of Eight days from closing to points being in my account.

 

[DisneyRegulars]

160 AKV (Apr) $75, 134 banked '10 pts, 160 banked ;11 pts, all '12 pts, buyer pays closing & mf

10/15 - Submitted
11/10 - Passed ROFR
11/18 - Received & Returned Closing Docs
11/21 - Buyers closing docs rcvd by TTS
11/28 - Sellers closing docs rcvd by TTS
11/29 - Closing
11/30 - Transfer sent to Disney
12/2 - First phone call to MS, not in system yet
12/5 - In System and first two reservations made.

Not too shabby, 51 days from submission to booking...

 

[maryliz]

Just made my reservation for june. A total of Eight days from closing to points being in my account.

This gives me some hope! We closed yesterday and I was thinking I might not be in the system until after Christmas. But maybe it will take longer because I'm a new member???

I SOOOOO want to make my ressie for next August.

 

[DisneyFamily06]

Closed on December 2 and still not in the system when I see others in the system after just 5-8 days. Anyone else waiting?

 

[TeleoDeum]

Closed Dec 6, and still not in system too! More waiting - aarrgghh!
All part of the process, I guess!

 

[CKCruising]

Closed Dec. 1....Still waiting.

 

[maryliz]

We closed on Dec 8th ... for fun, I called MS today to see if I'm there yet. She was able to pull up my name, but without the Member number, could not access anything for me. She wasn't even able to confirm the banked points that were supposed to be in there.

How long will it take for Disney to send me the info I need? I'm guessing it must be faster to get points into the system if you're already an existing member, and we're not.

So the waiting game continues.

 

[TeleoDeum]

Same here as Maryliz. MS confirms the name is in the system but cannot let me access the account without a member ID number, which is supposedly snail mailed from DVC. More waiting... The things we do for the Mouse!!!

 

[MsTessP]

I closed on Dec 7. Was in the system 10 days later. So I wouldn't have to wait, I asked MS to transfer me to Member Administration who was able to give me my Member ID and the info I needed to register and log into DVCMember.com.
I simply had to verify address, phone, etc and provide my contract and unit # off of my closing docs.

She told me that now that I had my member id# I was all set to call to make ressies!

So you folks who are in the system actually should be able to make reservations tomorrow after calling Member Administration. No waiting for snail mail!

 

[Chriss928]

I have a question about closing: How will I know when the closing actually occurs? The title company sent out the docs around the 5th or 6th of December and I know I returned mine a few days later. I also know it depends on when the seller returns their docs. What does the seller have to send back, just signatures? Does it need to be notarized?