Short Closing Time??

[honeymo78]

Our guide left us a message yesterday and one of the things he mention was that we should be closing in about 5-6 days. Considering they got the fed ex package last friday (7/25), doesn't that seem to soon? I'm thinking he must have misspoke. Or is it entirely possible that closing could take 2 weeks rather than a month?

 

[drusba]

It is possible. It is just a matter of having all the steps needed done (documents signed, money paid, title insurance ready) and then slotting the closing in on one of the days Disney has set up for large group closings.

 

[corky441]

Since you're buying directly from Disney - that seems like a reasonable time frame.

buying re-sale takes much longer because you have to pass ROFR first, and that can take up to a month in and of itself

Congratulations & Home

 

[Laneychris]

My guide said closing would be quick once he had all the paper work.

 

[honeymo78]

Good to hear it can happen this quickly. The "expected" date from our paperwork was mid/late Aug so hearing this was quite unexpected. That means we'll be able to make some more arrangements (flight, etc) sooner for our Dec trip - already have room and ADRs but didn't want to book stuff that can't be cancelled in case something went awry with membership.

 

[Disney Spaz]

Sounds about right here is my recent timeline to compare.
7/4/08 - Called and bought in
7/8/08 - Documents arrive
7/9/08 - Signed documents and returned them via FED EX
7/12/08 - Paperwork recieved by DVD
7/21/08 - Closing date
7/29/08 - Documents on file with Orange County Comptroller

All in all 25 days including a holiday and our guide being on vacation for a week. I will say the paperwork I signed said closing would be August 13th but I think they put the last possible date on just incase things get tied up.

 

[Dean]

They have to wait until the recision period has passed, 10 days from the later of the date you sign or they get you the required legal paperwork including the POS. After that it's fair game for a developer purchase.

 

[prettypixie]

Hi! Don't mean to hijack the thread but how will I know if my contract closes early?

 

[oakmanner]

It may be that sales have slowed significantly. Less closings=quicker closings.

Dennis-