Title company?

[VGCgroupie]

I do use TRCS for Aulani and low costs when there are no expiring points as they do tend to be slower, but they get the job done for such a low fee, I wind up being happy. For great efficiency and $7500 on the CC, DVC Title & Escrow all the way. Before they started up, used Mason for awhile (Cammy/Marcelo, but they are now DVC T&E). First AM to me is kind of rigid, slow, high price. I would not pick them anymore if given choices. I've never used Jeffrey Sweet or Magic (did buy a contract from the group sponsor tho, but insisted on using DVC T&E).

The fee didn't seem super low to me, actually substantially more than I paid Jeffrey Sweet (Sweet cant process CA) I wish I had use anyone else at this point.

 

[PoppyJ]

All of the above are good options. My only advice is to avoid Magic Vacation Title. They are very over priced and have terrible service levels.

I know https://www.dvcresalemarket.com/ uses Magic Vacation Title. Has anyone successfully used a different title company to close on a contract from them?

 

[Jimmy Geppetto]

I know https://www.dvcresalemarket.com/ uses Magic Vacation Title. Has anyone successfully used a different title company to close on a contract from them?

Yes! Whoever pays closing costs picks the title company. I’ve bought and sold with them. When buying I’ve NEVER used Magic Vacation Title. When selling one was with Magic the other was DVC closings.

 

[PoppyJ]

Yes! Whoever pays closing costs picks the title company. I’ve bought and sold with them. When buying I’ve NEVER used Magic Vacation Title. When selling one was with Magic the other was DVC closings.

Good to know, thanks! I had been avoiding their contracts...

 

[LittleBitGoofy]

I know https://www.dvcresalemarket.com/ uses Magic Vacation Title. Has anyone successfully used a different title company to close on a contract from them?

Now I was told when I bought from DVCRM that if I switched from using their co owned title company, magicvacationtitle.com, that I would lose some of the protections in the contract (like point guarantee, getting what points were listed). I don't know if that's true or not, but I was told that to be the case when I wanted to switch after waiting TWELVE days for closing docs after ROFR cleared.

Even if that's true I would still refuse to use magicvacationtitle.com. High price and low service. Never, ever again.

I also like to note that there were no disclosures provided in the contract of a business affiliation between the two companies. It's not just a preferred title co, it's a profitable one for DVCRM.

 

[atthebeachclub]

Now I was told when I bought from DVCRM that if I switched from using their co owned title company, magicvacationtitle.com, that I would lose some of the protections in the contract (like point guarantee, getting what points were listed). I don't know if that's true or not, but I was told that to be the case when I wanted to switch after waiting TWELVE days for closing docs after ROFR cleared.

Even if that's true I would still refuse to use magicvacationtitle.com. High price and low service. Never, ever again.

I also like to note that there were no disclosures provided in the contract of a business affiliation between the two companies. It's not just a preferred title co, it's a profitable one for DVCRM.

This is messed up. Not sure I would want to do business with a company like that.

 

[lorimt]

Now I was told when I bought from DVCRM that if I switched from using their co owned title company, magicvacationtitle.com, that I would lose some of the protections in the contract (like point guarantee, getting what points were listed). I don't know if that's true or not, but I was told that to be the case when I wanted to switch after waiting TWELVE days for closing docs after ROFR cleared.

Even if that's true I would still refuse to use magicvacationtitle.com. High price and low service. Never, ever again.

I also like to note that there were no disclosures provided in the contract of a business affiliation between the two companies. It's not just a preferred title co, it's a profitable one for DVCRM.

I was told that a few weeks ago as well. FWIW, magicvacationtitle.com has been great so far. Received closing docs within 24 hours and I’m now waiting on sellers to return their docs so hopefully the process remains speedy.

 

[boba_balla]

Sorry, I'm new to this but how does a point guarantee work? Does that mean if for some reason the points at the time it's supposed to close doesn't match what's on the contract, then somehow the Title Company would give you the difference in points to make you whole, or just pay you the dollar difference in points versus cancelling the contract altogether?

 

[Sandisw]

Sorry, I'm new to this but how does a point guarantee work? Does that mean if for some reason the points at the time it's supposed to close doesn't match what's on the contract, then somehow the Title Company would give you the difference in points to make you whole, or just pay you the dollar difference in points versus cancelling the contract altogether?

Contracts will outline what you will be owed as the buyer if the points you were supposed to get are missing.

Not all are the same.

 

[Roo76]

Looks like I'm not alone in the dislike of ***. We are the buyers and it has been over a week since we signed and returned our papers and successfully wired our money. I reached out 2 days ago about the progress. First reply, in the morning, said we were ready to close that day. Second reply, late in the afternoon, said they were waiting for a current point accounting from the seller. Have not heard anything further. Why tell me that we are ready to close if they don't have all the papers ready? I don't want to be "that person", but at what point do I start getting loud about this? I feel like I'm getting the run around.

 

[disneylandtour]

I believe the most important thing here is to closely review financial accounting in each contract. I've had THREE errors in a total of seven resale contracts over years. One issue was minor. The other two were errors of many thousands of dollars--surprisingly, not in my favor. So carefully review the financials before signing and closing.

 

[Jimmy Geppetto]

Looks like I'm not alone in the dislike of ***. We are the buyers and it has been over a week since we signed and returned our papers and successfully wired our money. I reached out 2 days ago about the progress. First reply, in the morning, said we were ready to close that day. Second reply, late in the afternoon, said they were waiting for a current point accounting from the seller. Have not heard anything further. Why tell me that we are ready to close if they don't have all the papers ready? I don't want to be "that person", but at what point do I start getting loud about this? I feel like I'm getting the run around.

magicvacationtitle.com

?

 

[Genie+]

Looks like I'm not alone in the dislike of ***. We are the buyers and it has been over a week since we signed and returned our papers and successfully wired our money. I reached out 2 days ago about the progress. First reply, in the morning, said we were ready to close that day. Second reply, late in the afternoon, said they were waiting for a current point accounting from the seller. Have not heard anything further. Why tell me that we are ready to close if they don't have all the papers ready? I don't want to be "that person", but at what point do I start getting loud about this? I feel like I'm getting the run around.

Sounds like the seller is slowing down the process by not providing current point status. Unfortunately there’s not much that can be done until the contract’s ‘close by’ date is in jeopardy. If the seller goes past that date, then the buyer can legally back out. Is that date looming? Otherwise the best you can do is reach out to the broker and ask them to kindly let the buyer know you’d appreciate getting to the finish line asap.

 

[Roo76]

For some reason it will not allow me to answer your question.

 

[Disfamwa]

I'll just update this thread to add, I am now working with TRCS and it's been a week since passing ROFR and I still have no closing documents or communication from them. Jeffrey Sweet got me my docs next day.

What size were your contracts and do you remember the cost difference between Jeffrey Sweet and TRCS? Since you said Jeffrey Sweet didn’t allow credit cards for the deposit, what were your options for paying that? Any other final thoughts between these two? Thanks!

 

[disneylandtour]

What size were your contracts and do you remember the cost difference between Jeffrey Sweet and TRCS? Since you said Jeffrey Sweet didn’t allow credit cards for the deposit, what were your options for paying that? Any other final thoughts between these two? Thanks!

Usually I'm able to arrange the credit card deposit with an offer for additional mileage points. I think each of my last three purchases on resale equaled one free flight each from just the deposit. This is mainly why I haven't used Sweet.

 

[disneylandtour]

Sounds like the seller is slowing down the process by not providing current point status. Unfortunately there’s not much that can be done until the contract’s ‘close by’ date is in jeopardy. If the seller goes past that date, then the buyer can legally back out. Is that date looming? Otherwise the best you can do is reach out to the broker and ask them to kindly let the buyer know you’d appreciate getting to the finish line asap.

I've been in this situation. You can also ask the seller for some additional compensation--maybe to cover closing costs--if they miss this date to keep the sale alive. Otherwise, they are starting all over and might be on the hook for some title fees. And I don't mean miss it by a day or two--I had a situation where it was missed by a month.

 

[VGCgroupie]

What size were your contracts and do you remember the cost difference between Jeffrey Sweet and TRCS? Since you said Jeffrey Sweet didn’t allow credit cards for the deposit, what were your options for paying that? Any other final thoughts between these two? Thanks!

Id give up all the credit card rewards to not have to use TRCS. For Jeffrey Sweet purchase I paid by wire, and it was just under $13,000 100 points. The fee was $510 including title insurance. Im not sure what TRCS would have charged for that one.

Edit: deposit was paid by Zelle, remaining funds by wire

 

[disneylandtour]

I do use TRCS for Aulani and low costs when there are no expiring points as they do tend to be slower, but they get the job done for such a low fee, I wind up being happy. For great efficiency and $7500 on the CC, DVC Title & Escrow all the way. Before they started up, used Mason for awhile (Cammy/Marcelo, but they are now DVC T&E). First AM to me is kind of rigid, slow, high price. I would not pick them anymore if given choices. I've never used Jeffrey Sweet or Magic (did buy a contract from the group sponsor tho, but insisted on using DVC T&E).

One reason I've never bought Aulani is because of the super high title fees as (I believe) those need to be done by Hawaiian title companies, of which there are few. Is there a cheaper option now? It's been at least two years since I asked. But back then, it was $1k to close, even for a small cash contract.

 

[VGCgroupie]

Im actually using TRCS for a new contract that in ROFR. Seller is paying closing costs and they insisted on TRCS. Based off of them taking a week to process my deposit I assume this contract purchase will also take them FOREVER