Resale - when do you pay?

[MJ6987]

Hi,
We are currently in the process of buying into DVC for the first time (100 points at BWV). It went to Disney for ROFR a week ago (22/6). Assuming it passes, when approximately will I need to pay? Just that I need to get the money out of savings. Thanks.

 

[disneynutz]

Hi,
We are currently in the process of buying into DVC for the first time (100 points at BWV). It went to Disney for ROFR a week ago (22/6). Assuming it passes, when approximately will I need to pay? Just that I need to get the money out of savings. Thanks.

Contact your broker and ask them. Different brokers may have different payment terms.

Bill

 

[MJ6987]

Contact your broker and ask them. Different brokers may have different payment terms.

Bill

It's the Timeshare Store

 

[han22735]

It's the Timeshare Store

I used them as well recently. I had to send the check when I got the closing docs. So you're probably going to pay in about 45 days at the earliest.

 

[MJ6987]

I used them as well recently. I had to send the check when I got the closing docs. So you're probably going to pay in about 45 days at the earliest.

Thanks

 

[Msmithmd]

I waited to move the money from savings until the day we heard it passed ROFR. No reason to do it any sooner.

When they send the closing paperwork out, your inclination as a buyer will be to hurry. The seller won't feel the same, and the sellers' forms have to be notarized.

So you easily have a week, even after you hear that you pass, before the funds' move needs to be complete. Also, the closing agency usually wants a cashiers check- which your bank may well be able to withdraw against your savings account directly in any case.

 

[wildforgoofy]

I waited to move the money from savings until the day we heard it passed ROFR. No reason to do it any sooner. When they send the closing paperwork out, your inclination as a buyer will be to hurry. The seller won't feel the same, and the sellers' forms have to be notarized. So you easily have a week, even after you hear that you pass, before the funds' move needs to be complete. Also, the closing agency usually wants a cashiers check- which your bank may well be able to withdraw against your savings account directly in any case.

Exactly what we did.

 

[Best Aunt]

I'm currently selling through TSS. It took 30 days for Disney to waive ROFR. Then the title company had to wait for Disney to send them info about my contract, before they could prepare the closing documents. The closing documents arrived by e-mail 13 days after we were notified that Disney passed ROFR. As PP said, you're told to send a check when you get the closing documents.

 

[LisaS]

When they send the closing paperwork out, your inclination as a buyer will be to hurry. The seller won't feel the same, and the sellers' forms have to be notarized.

It depends on the seller. We received our closing docs on a Friday. The closing company received our signed copies the following Tuesday. The sellers paperwork had already arrived by that time! We closed on Wednesday.

 

[judydvc]

It depends on the seller. We received our closing docs on a Friday. The closing company received our signed copies the following Tuesday. The sellers paperwork had already arrived by that time! We closed on Wednesday.

When I sold I set my docs right back. Even though I was sad to say goodbye to my points.