Resale timeline

Liam518

Earning My Ears
Joined
Feb 11, 2019
I’m ready to make the move, and I have heard the process takes a long time via DVC resale market. My question is when do I need the money by? I have my funds tied up in stocks, and want to know if I should pull it out before I make offer, or is there a while between offer, acceptance and actual money exchange. Thanks in advance.

Also, was wondering if MF are one lump payment or monthly payments?

Thanks.
 

DduzDis

DIS Veteran
Joined
Mar 8, 2017
You'll need a 10% down payment available upon acceptance of an offer. After that you have until closing to gather the rest. It could be anywhere from 30-60 days. It can vary greatly, but the whole process can take from 45 - 60 days on average I think.

Future MF can be paid either lump sum or monthly if you set that up on the DVC member website. If you purchase a contract with points available for this year the dues for those will be collected at closing unless you have negotiated something different in the offer. Beyond purchase of the contract you can pay monthly.
 

sndral

DIS Veteran
Joined
Feb 3, 2008
How long will it take you to liquidate and get your funds?
You will need 10% down when your offer is accepted - you can throw that on a credit card easily and have until your bill is due to pay that and avoid interest charges.
Once your offer is accepted it goes to ROFR from Disney - which takes a couple of weeks up to about a month. Assuming Disney doesn't exercise their right of first refusal once you are notified you've passed ROFR the closing company will prepare your documents which can take a couple of days to a couple of weeks. Then both you and the seller have to return those documents - this is when you send the 90% of the price you still owe, plus the closing costs plus the MFs (if you are paying those last 2 items.)
W/ the 2 contracts I bought I had the funds sitting in my checking account and sent the money and the signed closing documents right away but both times the sellers took a couple of weeks to get their documents notarized and back to the closing company.
In your situation, assuming you can get your hands on your money w/in 2 weeks, I'd liquidate as soon as I was notified that I'd passed ROFR while I was waiting for the closing documents from the Title Co..
 
  • skippytx

    Bay Lake Tower
    Joined
    Aug 24, 2015
    My transaction was 35 days from offer to close, and that was considered pretty fast.

    I don't know how long it would take you to liquidate, but I'd probably wait until I found out if I passed ROFR before selling.
     

    TexasChick123

    Always Dreaming of Our Next Vacation
    Joined
    Feb 19, 2017
    Plan for 60-90 days from signed contract to points in the account. As far as money, like others have said, you need 10% upfront. The other 90% will be due once you get the closing docs if it passes ROFR which is taking 2 weeks to a month after sending the contract off for review. You send a cashiers check with all your closing docs. I’ve had closing docs prepared within a day or two up to 2 weeks after being notified it passed ROFR. A lot of it depends on the title company. I suggest you research them!
     

    sndral

    DIS Veteran
    Joined
    Feb 3, 2008
    My transaction was 35 days from offer to close, and that was considered pretty fast.

    I don't know how long it would take you to liquidate, but I'd probably wait until I found out if I passed ROFR before selling.
    Wow, that’s fast!
     

    kniquy

    DIS Veteran
    Joined
    Dec 15, 2014
    My question is when do I need the money by? I have my funds tied up in stocks, and want to know if I should pull it out before I make offer, or is there a while between offer, acceptance and actual money exchange. Thanks in advance.
    My timeline is based on a purchase a few years ago. Once accepted there was a deposit needed ( not positive on amount) for me this was the middle of September when i put in my offer. Our contract was through ROFR in about 30 days (some move through quicker) then it was somewhere in mid November when they needed the remainder of the amount. We had our member # and access my mid December.

    I don't know how long it would take for you to pull your $$ from stocks -- If it takes awhile and you know for certain that you are buying then i would get that money in your account to make sure that doesn't cause a hold up in the process.
     

    TJ Bryant

    Earning My Ears
    Joined
    May 3, 2019
    My timeline so far has been as follows:

    5/1 Offer made and accepted
    5/3 submitted to Disney for ROFR
    5/17 passed ROFR
    5/29 received closing docs
    6/6 Seller returned signed deed
    6/11 contract closed and deed recorded and sent to Disney.

    Still waiting on Disney to update their system.
     

    Minniemoo15

    DIS Veteran
    Joined
    Jan 27, 2016
    My offer was made 5/5 and it closed 6/4 - so less than a month. However.. the original closing date in the contract was 7/5 so I could have taken up until then to liquidate the funds had I needed to.
     

    Tigger1

    DIS Veteran
    Joined
    Aug 18, 1999
    I’m ready to make the move, and I have heard the process takes a long time via DVC resale market. My question is when do I need the money by? I have my funds tied up in stocks, and want to know if I should pull it out before I make offer, or is there a while between offer, acceptance and actual money exchange. Thanks in advance.

    Also, was wondering if MF are one lump payment or monthly payments?

    Thanks.
     

    Tigger1

    DIS Veteran
    Joined
    Aug 18, 1999
    Check with www.DVCSALES.com . I was looking on the site for my daughters future resale purchase and found it to be so user friendly and a lot of useful information like dues increase in cost for each year of each resort, and where to finance and comparisons of finance companys'. They also have a chat feature and responded quickly for me today. The owner of this site sold me several Direct sale DVD contracts before he retired from Disney and started his own resale company.
     

    Suzabella

    Earning My Ears
    Joined
    Jun 24, 2019
    Things are moving a lot faster now than they did the last time we purchased resale. It was exactly 1 month from offer to the day the deed was recorded. We are now waiting for Disney to load our new contract and add the new points. In my research prior to our offer, I found the ROFR was taking an average of 2 weeks for most resorts. The rest depends on how fast seller returns docs and buyer sends funds. We had to send money right after passing ROFR so about 2 weeks in.
     

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