ROFR Thread Jan to March 2023 *PLEASE SEE FIRST POST FOR INSTRUCTIONS & FORMATTING TOOL*

[Herding_Cats]

Sent to ROFR on Monday, passed yesterday (Thursday), have the closing docs from Mason/Cammy today...Friday. WHOA.

 

[Electron_si]

Well, it's the broker that sends the contract to Disney for ROFR, and then sends the documents to the title company for closing docs to be generated once ROFR is cleared. The title company also has to wait on any financial docs to be prepared by a lender (if applicable) before the final closing disclosure and closing packet can be prepared and sent out.

So there are a few things that can slow the process down, even between passing ROFR and the title company sending you your closing docs.

I also have an email stating that the estoppel can take up to 3 weeks to come from Disney which has me confused on how title companies are getting closed so fast.

Maybe that process has sped up recently?

 

[SkampyOne]

Same here. I emailed again. Squeaky wheel, right?? I even flat out said that other title companies are sending out documents way faster than they are. Maybe if we all complain, they'll try to speed it up??

To everyone dealing with www.magicvacationtitle.com, please do reach out as I've had a VERY different experience, being proactive. ROFR waived Feb 24th, received closing docs Feb 28, closed Mar 4 with the deed recorded Mar 6 so I'm now just waiting to hear from MS!

 

[hobbes42]

I also have an email stating that the estoppel can take up to 3 weeks to come from Disney which has me confused on how title companies are getting closed so fast.

Maybe that process has sped up recently?

For several months now, it has been typical for estoppel to be issued at the same time the ROFR waiver is issued.

 

[Electron_si]

To everyone dealing with www.magicvacationtitle.com, please do reach out as I've had a VERY different experience, being proactive. ROFR waived Feb 24th, received closing docs Feb 28, closed Mar 4 with the deed recorded Mar 6 so I'm now just waiting to hear from MS!

Did you send an email to them as soon as you received your ROFR approval asking to expedite?

 

[DonMacGregor]

For several months now, it has been typical for estoppel to be issued at the same time the ROFR waiver is issued.

Yeah, dvcresalemarket has been sending out that "Disney DVC has waived your contract and has issued the Estoppel certificate in one fell swoop!" boilerplate email for well over a year now.

 

[SkampyOne]

Did you send an email to them as soon as you received your ROFR approval asking to expedite?

Waiver notice came through at 5:30pm on the Friday and I sent a note to the concierge team Monday just before 5pm, saying that I know others working with them who already received & returned closing documents (thanks DIS!) and wondered when I might hear something. I got an email back within minutes saying the title company is working as quickly as possible, 230 contracts waived that week, blah, blah, but then they sent a note to the closing agent asking for expedited processing. Got my documents the next day before lunchtime. "Never hurts to ask (politely)" covers a multitude of things

 

[Lucky Wall-E]

We just closed with Mason yesterday and the deed recorded today. I returned my closing docs as the purchaser on 2/24 and they were received on 2/28 (weekend). The sellers signed their docs on 2/27, and I'm assuming their packet was received by Mason on 3/2 (sent either 2/27 or 2/28 with 2-day FedEx service). That would jive with the 3/9 closing date (7 days).

I am currently in the closing doc process and my question to you is when did you wire or send a cashiers check to the title company. After you signed or after the seller signed?

 

[crazydad123]

Crazydad123---$79-$20601-250-OKW-Feb-0/22, 2/23, 250/24, 250/25- sent 3/6, passed 3/10

 

[shand32783]

Fully loaded Sept uy BLT 250 on Fidelity. 500 2022 pts plus full 2023. Let's see who gets a good deal on that one.

Alright...Who got it?

 

[badeacon]

I am currently in the closing doc process and my question to you is when did you wire or send a cashiers check to the title company. After you signed or after the seller signed?

I always ask to be notified when seller returns documents and I will wire the money. There have been multiple examples posted on here where seller takes a long time to return closing docs. and I just had one where seller did not return for 3 weeks.

 

[AstroBlasters]

I always ask to be notified when seller returns documents and I will wire the money. There have been multiple examples posted on here where seller takes a long time to return closing docs. and I just had one where seller did not return for 3 weeks.

Or fails to be able to close….

 

[CathoDad22]

I'm bummed about it too. Over two weeks from ROFR here. Next week should be my week to get closing docs and wire the money according to their maximum days on the timeline they sent.
Happy for everyone who's contracts are moving along.

I too have been waiting over two weeks. Yesterday I emailed to check in and see if it would be closer to the 14 or 21 days, the reply I got corrected me and said 21 BUSINESS Days!

 

[SkampyOne]

I too have been waiting over two weeks. Yesterday I emailed to check in and see if it would be closer to the 14 or 21 days, the reply I got corrected me and said 21 BUSINESS Days!

Downside to the recent buying frenzy? Wonder if things will slow down further with FL spring break starting next week and potentially a lot of people off with their kids... Closing times still seem to be in the same window, but can appreciate a faster ROFR and then a slow close is more annoying than a long ROFR and a fast close

 

[jakecaputo]

Or fails to be able to close….

I'm in that boat now. I'm a few days away from closing. Either a miracle happens the seller gets all their paperwork done by next Friday (it was in probate) or I get my money back.

 

[LilyJC]

Mason was never able to handle Hawaii title work, so maybe it's a new thing they're just not fully complete in obtaining?

Sounds like they thought Cammy was all set to do Aulani contracts, but that it didn’t work out for now.

There was someone else here purchasing Aulani recently that said their escrow company is Mason. I hope they see your post.

I saw that which is why I asked for clarification from Shawn before making offers. I really don’t want to deal with First American again.

 

[gobears157]

Update on my Aulani contract:

• The Fidelity agent screwed up and just told me that Mason Title cannot work with Aulani, so we've just wasted over a week.
• Picked a new title company and they just sent it to ROFR today
• Hoping ROFR will be quick and I can get the points in time to use next month (April UY)

Should've listened to you smarter folks and questioned my Fidelity agent more about using Mason Title. Lesson learned: listen to folks on this board!

 

[gobears157]

Sounds like they thought Cammy was all set to do Aulani contracts, but that it didn’t work out for now.



I saw that which is why I asked for clarification from Shawn before making offers. I really don’t want to deal with First American again.

I'm the other person you're all referring to... I'm also using Shawn from Fidelity. Not impressed with her service thus far...

 

[LilyJC]

I'm the other person you're all referring to... I'm also using Shawn from Fidelity. Not impressed with her service thus far...

Ugh, so sorry! I typically use Bonnie when buying at Fidelity, but the contracts I was considering offering on were through Shawn. She was very kind, and I appreciated her honest answers. It really sounds like Fidelity agents honestly thought Cammy was ready to take on Aulani, but that they literally had just found out it was not going to work out for the time being. Thankfully it does seem ROFR is going lightening fast, so hopefully you’ll get your answer soon!

 

[snowy82]

I too have been waiting over two weeks. Yesterday I emailed to check in and see if it would be closer to the 14 or 21 days, the reply I got corrected me and said 21 BUSINESS Days!

I've emailed a few times now and finally got her to tell me it would be by wednesday, which would be 19 calendar days (not business days). But my last email bluntly said, "other companies are getting documents out faster, what's going on with you guys?"