Slow Seller Closing Docs

[BrianLo]

If it makes you feel better, I am under contract for two resale contracts at the moment. My first one seems to have slow sellers but supposedly they are sending documents this week. My second one was just sent to ROFR just yesterday…18 days after the broker said they sent it. Never sent it to the title agent, either. Thank goodness my title agent seems to be with it at least. Between this and waiting for my accountant to finish my delayed tax returns, I am really learning to practice my patience.

This is definitely why I’m a DIY person. I’m not so much fussed about the expediency as much as it falling through as we narrow in very close to the closing date. I assume the latest the title company would want the documents returned is two days prior.

This is downside of not using www.DVCresalemarket.com on this one. They hound you with updates, even when I was explicit about my timeframe as a buyer… now my only literal update on this contract was self-directed.

 

[atthebeachclub]

This is definitely why I’m a DIY person. I’m not so much fussed about the expediency as much as it falling through as we narrow in very close to the closing date. I assume the latest the title company would want the documents returned is two days prior.

This is downside of not using www.DVCresalemarket.com on this one. They hound you with updates, even when I was explicit about my timeframe as a buyer… now my only literal update on this contract was self-directed.

Would love to do taxes myself but our circumstances now require a professional unfortunately.

I have had a fantastic experience with https://www.dvcstore.com/ and they have been so professional the whole time. But sellers will be slow sometimes, though it makes me worry we could miss the closing date, of course. I won’t name my second broker; they are nice enough but wouldn’t be my first choice in the future based on this goof up unless they had the perfect contract for me (which they did in this circumstance). They have also only updated me when I requested; not a huge fan of that.

 

[Replevin]

Update on my situation. I sent an email yesterday, 17 May, to see how the seller documents were coming along and what the next steps were if they weren't received by 31 May, our listed settlement date. DVC closings wrote back that the closing is scheduled for this Monday. In all fairness I have no idea what the seller's situation is so I'm not going to get too worked up over the timeline to return their documents. I'll be happy to have this contract closed and eventually see some points on my board.

 

[Disney_Funster]

I’m officially at 32 days now since receiving closing documents. I have only asked once so far innocently (on day 16), but I think it’s likely fair to re-ask on Mon/Tues with the closing date set for May 24th…

I just closed after 34 days waiting for the seller to notarize and return their documents. TBH I was thinking it wasn’t going to happen as it was on a Poly contract before the recent price run. Hang in there, I fully understand the struggle

 

[teetee830]

I'm in the same boat. Passed ROFR on 4/26 and still waiting on sellers to send their documents. They have until June 7th to close by. My question is what happens if they don't sign by that date?

 

[CarolynFH]

I'm in the same boat. Passed ROFR on 4/26 and still waiting on sellers to send their documents. They have until June 7th to close by. My question is what happens if they don't sign by that date?

If they don’t sign in time to close on or before June 7, you get your deposit back and start all over looking for a contract. Unless they ask for and you approve an extension of the closing date.

 

[atthebeachclub]

My slow sellers finally helped us close! There may be a light at the end of the tunnel!

 

[BrianLo]

Well looks like I’m blowing past my closing date (that was today). The RON service is still being scheduled I guess?

No light here.

 

[BrianLo]

Whip lash, they just submitted their RON!

Still need the points activity, but it’s happening lmao.

 

[sndral]

If they don’t sign in time to close on or before June 7, you get your deposit back and start all over looking for a contract. Unless they ask for and you approve an extension of the closing date.

&, if you sent all of your funds when you sent your signed closing documents, you’ll get those funds back too.