Resale Timeline

[tiberius]

I received written confirmation of my closing today from the Timeshare Closing Service and thought I would post a rundown of the timeline for my resale since it is a matter of some question for those of us entering the resale market for the first time.

March 4 - offer made and accepted
March 26 - Disney chooses not to exercise ROFR
March 28 - received word of Disney not exercising ROFR
April 9 - received closing papers
April 11 - mailed closing papers and cashier's check
April 18 - seller signed closing papers and mailed to closing agent
April 24 - sale closed
April 28 - received written confirmation of closing
May 1 - deed recorded at Orange County
May 5 - able to view sale paperwork on Orange County Public Records web site
May 7 - received member guidebook from Disney
May 8 - called Disney Member Services, got Member Number
May 9 - made first reservation!!!
May 16 - Received written confirmation from Disney of deed's recording.

Of course, this is only a sample of my personal experience on this resale, but it may be of use to those considering resale the first time.

 

[KelNottAt]

Thank you thank you.

We're stuck waiting for word from Disney re our resale purchase. Made the offer Monday 4/7. So, based on your experience, we shouldn't be worried yet. I feel much better now.

Keeping our fingers crossed...

Kelley

 

[ArnyVee]

Thanks for posting this information. It's vital to folks like myself trying to determine how long it should take when purchasing a resale.

 

[reneesam]

This is very helpful-thanks!

How many points and which resort, if you wouldn't mind sharing?
Thanks!
Renee

 

[tiberius]

I am glad some of you have found this helpful--I know I would have like it prior to my resale experience (which is still not quite done yet).

Renee - I do not mind at all, it is 60 points at OKW. Not much to start with but I will see about another small addon later. Plus we average a trip to WDW "only" every 2 to 3 years, so a smaller point total has some appeal to me for that reason. Best of all I could pay for those points without financing!

 

[reneesam]

Thanks for letting us know! I just put in an offer on a 50 pt OKW add-on and I'm pleased to see that your similar contract went through.

Congratulations!
Renee

 

[KellyDVC]

From Offer to Acceptance (Two Days), to Disney waiving right of first refusal, only eleven more days. Kelley, you should have heard something on your resale by now. Seems like a long time to me. We are waiting for closing package.

Thanks.

Brian.

 

[CaliforniaDreaming]

Thanks for your timeline. We're also waiting to hear back from Disney.

 

[missyndda]

When we closed on our resale in early December, it had been about 60 days or so. I believe the Thanksgiving holiday was a factor, too.

So in this case, the Easter/Passover holiday may have come into play for those who are waiting to hear back.

Good Luck!

 

[Alliekat79]

How long does it take once the sale is closed to make your first reservation. I believe our sale is closing today. Do we have to wait for paperwork from Disney?
Thanks
Allison

 

[EdDome]

We made the offer in October and it closed the beginning of January. Holidays plus Disney's ROFR focus sure did slow down the process. I feel fortunate that the deal went through.

 

[JOC]

How long does it take once the sale is closed to make your first reservation. I believe our sale is closing today. Do we have to wait for paperwork from Disney?

You should be in Disney's system within a week of closing; once you're in their system you can make reservations. You won't receive your deed for a while; we closed on April 1 and received our deed on April 26.

 

[tiberius]

Originally posted by JOC
You should be in Disney's system within a week of closing; once you're in their system you can make reservations.

In that case, I guess I will be calling soon for my next trip!

 

[Alliekat79]

Wow, that's good to know. Thanks!

Allison

 

[tiberius]

For those who are considering, or in the middle, of a resale and wondering about the timeline involved, I have updated my earlier post at the top of this thread to account for the deed recording, date seller signed off on sale, and date Disney actually chose not to exercise ROFR.

 

[mikesmom]

Don't panic if it takes longer. Our timeline was Feb 15th to April 28th (about 10 weeks) from offer to deed.

 

[JVL1018]

Originally posted by tiberius
I

March 4 - offer made and accepted
March 26 - Disney chooses not to exercise ROFR
March 28 - received word of Disney not exercising ROFR
April 9 - received closing papers
April 11 - mailed closing papers and cashier's check
April 18 - seller signed closing papers and mailed to closing agent
April 24 - sale closed
April 28 - received written confirmation of closing
May 1 - deed recorded at Orange County
May 5 - able to view sale paperwork on Orange County Public Records web site

I am so baffled by my whole resale experence. I did it privately, bought 25 points from a friend. Got the ROFR, signed the papers, sent them to Orange County. Heard nothing for a looong time, my attorney called and there was some affidavit that had to be signed. He signed it and sent it back. That was 2-3 weeks ago. He told me it can take up to 3 months for a deed to be recorded in NJ--but it seems like 1 month is the maximum I'm hearing about in Orange County.
Sooo, when the deed is recorded, will they contact me(or my attorney?)..and when does Disney switch the account to me-after the deed is recorded?
Basically, when can I use these points? When are they considered "mine"?
Thanks!

 

[tiberius]

Originally posted by JVL1018
Basically, when can I use these points? When are they considered "mine"?
Thanks!

You can use them when Disney recognizes you as the owner, which will be after (I believe) Disney receives a recorded copy of the deed. You might try calling Member Services to see if you are entered into their system. I believe their phone number is 407-566-3800.

 

[JVL1018]

Originally posted by tiberius
You can use them when Disney recognizes you as the owner, which will be after (I believe) Disney receives a recorded copy of the deed. You might try calling Member Services to see if you are entered into their system. I believe their phone number is 407-566-3800.

Thank you! I guess they will be notified when we are. Hmph! I want to use these points in September!

 

[tiberius]

JVL1018,

You might try looking at the local Orange County records to see if your deed has been recorded. The internet site is:

www.occompt.com/2002/disclaimer.html

P.S. Read search instructions carefully.