The waiting is driving me nuts!

[lesley.a.murray@talk]

Hi Lesley,
If you buy a DVC contract through resale, the agreement has to be passed by Disney. They have the Right of First Refusal on the contract and can decide to buy the points back into their own inventory for whatever reason eg the selling price might be too low or Disney may have buyers waiting for points at that resort. The seller is ok here but the buyer has to find another contract and start the whole process over again.
ROFR only applies to resale contracts ie not direct purchases from Disney.
HTH
Another Lesley

 

[TLSnell1981]

Thanks to the OP! I am in the same position just now so hearing that you have got your closing documnents has given me hope. I've been told that it's Disney that's causing the hold-up. And I thought they wanted my money!

Submitted Sept 3rd:MickeyMo
Passed Sept 18th
Still waiting to close and make reservations and hear those words........

No rhyme or reason on how Disney does things.

Contract 8/22
Sent ROFR 8/24
Sent reworded contract ROFR 9/1
Passed ROFR 9/26
Closing?????

Contract shows closing to be on or before 10/17. Still waiting......(for estoppel).....impatiently!

 

[epicureangirl]

That wait between the contract being rewritten and going back to ROFR must have been a killer! That's where I am at right now so really hope it is not THAT long a wait. I'm so glad it worked out for you. Congratulations!

 

[dvcnewgirl]

My rofr took forever and my closing documents comming took forever too. I can definately remember back it was sooo stressful. Good Luck!

 

[WDWRR_ENGINEER]

Ok closing doc's and cash sent to settlement agent now up to seller to get ther docs back so we can close!

Then wait to get into DVC system..

Argh

 

[TLSnell1981]

That wait between the contract being rewritten and going back to ROFR must have been a killer! That's where I am at right now so really hope it is not THAT long a wait. I'm so glad it worked out for you. Congratulations!

Especially fustrating because I was told it wouldn't hang things up. Up to that point ROFRs were going pretty quickly. Seems like September has held things up a bit.

 

[lesley.a.murray@talk]

Ok closing doc's and cash sent to settlement agent now up to seller to get ther docs back so we can close!

Then wait to get into DVC system..

Argh

Same here! I have returned my closing documents, raided my piggy and wired the money today. Just hope the Seller (lovely person) is keen to have my money.
But it will be worth the wait!

 

[epicureangirl]

Especially fustrating because I was told it wouldn't hang things up. Up to that point ROFRs were going pretty quickly. Seems like September has held things up a bit.

Yes, I want everything to go quickly and smoothly, then it's one more thing...

The "conspiracy theory" side of me thinks Disney wants to hang on to our contracts as long as possible, in case they get someone coming through the door who wants to buy the same resort/use year/points. The price I offered is just a little above the only ROFR example I could find, so I didn't have a lot to go by. Oh well, I'll just hang in there and start looking forward to my first reservation and ADD ON!

 

[Terri2007]

Am in the same boat. Passed RORF and STILL WAITING for the bloody estoppels!!!
Have been waiting so long to come home. Even put them in my signature which may have given me bad juju.

 

[TLSnell1981]

No rhyme or reason on how Disney does things.

For anyone trying to piece together a timeline...I can add that I FINALLY received closing documents today!! (10/12). Let's see how long it takes to actually close!

Contract 8/22
Sent ROFR 8/24
Sent reworded contract ROFR 9/1
Passed ROFR 9/26
Received closing documents 10/12
Closing?????

Contract shows closing to be on or before 10/17. Still waiting......

..

 

[epicureangirl]

Have been waiting so long to come home. Even put them in my signature which may have given me bad juju.

If that's the case, I guess I WONT be getting that Hawaii add-on after all!

 

[doubletrouble_vb]

Well I feel a bit...better...I guess. I couldn't figure out what was going on. I didn't have a mortgage on my contract and at this rate Disney will take out the last of the 2007 maintenance fee before I close.

 

[Mickey'n'Me]

We finally received closing docs today. Passed ROFR on 9/20!! It feels like we have been waiting forever! Hopefully everything else moves a little quicker. I guess I'm a little too anxious to become a DVC member for the first time!!! Can't wait to make our first reservation!!