Sellers slow to respond - red flag?

[SheSingsAlong]

SheSingsAlong[/USER] when closing time comes I’d personally not wire the money until after the Title company notified me that they have the seller’s notarized documents in hand.

Yes, very good advice - given how much interest our "high yield" savings account is earning, I definitely don't want to pull it out early only to sit around waiting for several more weeks.

 

[crisi]

This isn't the part where the seller needs a notary (at least not domestic sellers) - this is just the initial contract. I can totally understand delays on the closing paperwork, but we couldn't even get to ROFR because the sellers hadn't signed. Now that they have (seemingly minutes after being prodded by the broker), I counted out the 65 days within which the contract stipulates closing must occur and I am assuming we will close no sooner than that last day. If it happens any earlier, it will be a happy surprise! LOL

I always suspect in cases like that that it wasn't the seller and that the broker had the paperwork on their desk and just hadn't gotten to it yet. But because its easy for them to say "oh, the seller hasn't returned it" and it makes them look bad to say "that's been sitting on my desk for the past four days and I haven't sent it over to Disney yet" sometimes you get the first excuse.

But not all sellers are motivated to sell. Not all sellers are organized and do things as they cross their desks - there are some champion procrastinators out there. And not all sellers have selling their DVC as their top priority - sometimes it isn't even in their top ten.

 

[Robbie Cottam]

The seller may had thought it was going to take longer to sell, wanted one last trip? MAYBE.

I wouldn't be overly concerned as the prices aren't going up daily.
But I also wouldn't want to be on hold, I like things to move forward daily.
Personally, in I had another contract I was interested in, at, or just before the close of business day on day ten I would be moving on to another contract. Either the seller wants to sell or not, if the broker doesn't or can't get ahold of the seller the seller doesn't want to sell today.

If I had other options I would exercise them.

Just my person preference, but my preference would also be to go direct for just this reason.

Good luck

 

[kboo]

Sometimes the seller owes more than the contract is worth & needs to bring money to the table to close which can delay things as well.
My slowest closing ever was a divorcing couple, my international seller was lightening fast in comparison .

We had an international seller who also had to bring money to the table. Then again, it was the perfect size, price and UY and this was one where a previous buyer had already pulled out (presumably due to delays and pace of closing). There were over 100 points that couldn't be banked etc. and were very close to expiring. If this had been my first contract, it would have taken too long for the new membership to be created, points to be loaded, etc. Even with an already existing membership, we had days to use the points before they expired. (rented them out)