Sellers: Get to the Notary NOW!!!!! And Overnight those Docs!!!

[GrnMtnMan]

I'm still waiting for closing. My purchase docs and funds were at the title company on December 6th. The sellers screwed up a first set of docs, and as of December 19th, the second set had not yet arrived. They have until the 22nd or I can walk away from my contract.

While I'm anxious to close and want to get my fall reservation done, I'm more astounded at their lack of swiftness. So many things can happen to make a deal fall-through, that I'm shocked that they didn't get their docs in within minutes of the money being there.

From what I see on some threads, this doesn't seem to be that unusual, but I'm still astounded. I know it can be a little difficult to find a notary (required for the sellers docs), but I would think people would go out of there way to find one. And I'd think they'd take some time out of the day in order to get the docs completed ASAP. And I know I would use traceable overnight delivery to get the docs there...not USPS first class or priority mail. There's a lot of cash sitting there for the sellers, and I can't believe that they'd risk starting the process over again because they wouldn't spend the extra more for overnight, or take a little time out of their day to get to a notary IMMEDIATELY!!!

So this is half vent and half a survey to see if this is the way most sellers behave. So resale buyers, what has been your experience: did your sellers move with purpose or take their sweet time?

 

[magicaldisney]

We are still in the ROFR stage, but I am shocked at how many posts I've read of sellers taking their time to get the final docs in. You'd think they are selling because they want or need the money, so why put things off? I'm curious to see how others have fared in the process.

 

[GrnMtnMan]

You'd think they are selling because they want or need the money, so why put things off?

Exactly. It's not like their points are any different from any other points.

 

[Nanajo1]

Last March we were at WDW when we accepted an offer for our points. I think we used the Notary at BWV to seal our deal. I know we didn't wait until we got home.

 

[GrnMtnMan]

I think we used the Notary at BWV to seal our deal. I know we didn't wait until we got home.

Another exactly.

I moved 14 moths ago...buying one house and selling another, so I had two real estate closings. I know I was up at midnight on a Saturday on the phone WITH MY REAL ESTATE AGENT scanning and faxing to get my sales contract all set. And we had settlement a few days before contract so if there were any snafus, there was time to correct them.

And I traded in my car this summer...got a generous price and trade-in offer from the dealer. Car I was buying was at another dealer, so I couldn't take delivery for a few days. But I left my car at the dealer and took the bus for two days....I didn't want a scratch...or a wreck...or a tree falling on the car after I had gotten (better than) the deal I wanted. I gave them the keys then and there and my old car was their responsibility from that point forward.

I didn't agree in my contract to buy whenever-the-seller-got-around-to-getting-the-docs-in-the-mail to the title agency....I agreed to buy it if we closed by a certain date. So sellers....if you don't get stuff in by that date, don't expect the deal you got to still be there. You might be back at square one.

 

[Chriss928]

I returned my docs for purchase 2 weeks ago. I called the agent and title company to see what was going on and I just found out the seller had the wrong notary. Apparently the sellers need a raised seal and the one they sent in did not. So now I wait....The agent was having a hard time getting a hold of the seller so there will more of a delay, REALLY. If I was selling I would be waiting at the mail box everyday just so I could return the docs immediately. And just to let you know when the seller verbally agreed to the price I faxed my contract back within hours of receiving it. It took the seller almost 2 weeks, REALLY! Maybe I am looking at this differently but if I was selling I would be just as vigilant at getting the docs returned ASAP. I am seriously considering pulling my contract and then the seller would be stuck with the 2012 dues. Do the sellers ever think about that... Sorry just venting my frustation as well.

 

[GrnMtnMan]

So my rant paid off. Got an email from the title company last night that the docs arrived (on the 21st) and the title agent did the closing.

But seriously....the money was there December 6th (really the 5th, but who's counting) and these sellers could not get their act together any sooner than 24 hours before the contact could be voided.

 

[jennypenny]

Just to play devil's advocate...

They might be selling because of something unpleasant going on--illness, divorce, horrible financial times--and something like notarizing documents might fall to the bottom of a long list of things to do. In divorce cases you have two households to deal with. In our case, my hubby works for the military (out of town) so we had to coordinate that. Might be an estate sale and then you might need all beneficiaries to sign.

Lives can be messy...

 

[GrnMtnMan]

Just to play devil's advocate...

They might be selling because of something unpleasant going on--illness, divorce, horrible financial times--and something like notarizing documents might fall to the bottom of a long list of things to do. In divorce cases you have two households to deal with. In our case, my hubby works for the military (out of town) so we had to coordinate that. Might be an estate sale and then you might need all beneficiaries to sign.

Lives can be messy...

Absolutely.

Wasn't the case for my deal. And a complicated situation is something sales broker or title agent ought to inform you about....and contract should have more leeway to accommodate this type of situation.

 

[jennypenny]

I think if we were selling because we were having financial problems or marriage problems, I probably wouldn't tell anyone that (even my agent). People can be very private.

Wasn't trying to argue with you. People can just be lazy too

 

[GrnMtnMan]

Lives can be messy...

I forgot to say this in my prior post....lives can be messy on the buyer side too. All those complications can happen to buyers between ROFR and closing too. As a seller, I'd hate to have a contract pulled beacuse the buyer was now getting a divorce....and instead of getting the whole cash I expected, I'm now getting some portion of the buyer's deposit, minus fees from title agent and broker, and I have to put points up for sale again and start from square one.

 

[etemplet]

What's the rush ??

 

[GrnMtnMan]

What's the rush ??

1. Making a reservation.

2. The title company has the buyer's money.

3. It's a contract...not a guideline.

How is a buyer supposed to know if the seller is having second thoughts...might as well get stated with another seller if the first deal is not going to close.

 

[etemplet]

1. Making a reservation.

2. The title company has the buyer's money.

3. It's a contract...not a guideline.

How is a buyer supposed to know if the seller is having second thoughts...might as well get stated with another seller if the first deal is not going to close.

Relax. Enjoy the ride !! It's Christmas time !!

 

[bababear_50]

From a sellers point of view

Now remember I was once a first time buyer and do understand wanting it to be done NOW. Currently have 4 out of 5 contract , and plan on keeping them.

I have responded via email swiftly and will do everything in my power to ensure I get it notarized as soon as I receive the documents. My stuff will be emailed and not Fex or snail mail.

I do not "need" the money and mine can't close until after march anyway (trip booked).
My reason for selling is I want to be able to diversify and have more than two home resort.

My forms clearly asked
Are you involved in a divorce AND
Are you involved in a bankruptcy.



Edited to add
My small point contract took 4 weeks to sell although I did get a low offer in just a few days after listing. I held out and am glad I did. Thanks Jamie Timeshare Store!
We are now waiting to see if Disney uses their FROR--although I don't think they will.
I am excited for the new 'owners" but then I am a true Diser.

Hugs Mel

It will happen hon!

 

[Chriss928]

I completely understand if there are difficult circumstances and I am more than willing to help out however I can. I just dont like not knowing what is going on. Just Like GrnMtnMan said my money has been in the title companies hands for nearly 30 days. It is a contract that should be adhered to. If not then alternative means need to be taken. Its not personal its just business. If you as a seller cannot or don't care to complete the obligations required then you cant realistically expect to sell. At that point you have wasted the buyers time, the agents time, the title companies time, and your own time.

 

[MSUmom]

I understand the impatience. I am currently in the process. I signed the paperwork and sent the check in the beginning of December. Why am I in a hurry - I would like to make reservations for May and right after Christmas 2012.

 

[Chriss928]

I am in the same boat. I want to book our family trip for May. I am hoping for BLT but it ihas not been the most smooth transaction. Now throw in the holidays and maybe we will close in the beginning of the new year. UGH

 

[suncup1225]

As a seller I know that I am super happy that someone made and offer and that I accepted it today! I just received the documents today and as soon as the banks open after the holidays, I will be having my documents notarized and will be sending them back via overnight mail...unless something happens like illness or something. I know what it is like to want those points and I am happy to oblige the buyers and hold up my end of the deal and hopefully get the documents to them as quickly as possible!

 

[Song of the South]

My best guess on seller delays is that they might be having to bring money to the table to close. If they financed and are having financial difficulties and have discovered that they are upside down on loan to value...well...all I can say is yikes! I know for our contract our seller had to bring a thousand or so to the table. It didn't slow down the process very much but I can readily understand how for some it could.

Glad you got closed and for those waiting here's a list pixie dust!

SotS