Uh-Oh.....Seems Something Is Amiss With Closing...ARGH!!

[chorlick]

I've been posting on the "Anyone passed ROFR lately", but I think this may need it's own post.

We passed ROFR on June 28. Still have not recieved closing documents. We've been calling trying to find out why. We were told our papers would be going out the first of last week. They did not. Then we were told that the they were waiting for final papers from Disney. (We've been told this twice). We let the week go by and decided to call again last Thursday. We called TSS and they couldn't find out anything so they had the closing Store call us on Friday. We were then told that the sellers were dragging their feet.

So, today we decided to call again (I REALLY need to make ressies!!!) and we were told that during the "search" they found out that the owners were having to transfer the property from their company which delays things. They were supposed to find out more information this afternoon and call us back....which they have not.

So.......it's starting to look like if you want to avoid ROFR, or other possible setbacks that buying directly from Disney is the best way to go. If I had it to do over again, I'm not so sure what I would do. In the meantime, I'm getting nervous about our family vacation not happening.

 

[LisaS]

So.......it's starting to look like if you want to avoid ROFR, or other possible setbacks that buying directly from Disney is the best way to go. If I had it to do over again, I'm not so sure what I would do. In the meantime, I'm getting nervous about our family vacation not happening.

I'm sorry that you are having to go through this. Based on the experiences posted here on the DVC forums, this is not the norm.

I bought a resale contract through TTS last summer and like you, I was anxious to get through the process quickly. Fortunately, the seller was prompt with all paperwork and the whole process was quick and smooth. You have been very unlucky here with this seller, but I wouldn't judge the resale experience by this unfortunate situation. I really hope this works out for you but if it doesn't, I'm sure you'll have better luck next time. Just keep a record of the seller's info so you can avoid buying your next contract from them, just in case they are selling off more than one contract!

 

[JimMIA]

First of all, you're right, this deserves its own thread.

Problems like this are not common, but they are not unheard of either. Sometimes the paperwork from Disney takes longer than expected, sometimes the package which took weeks to assemble arrives the day after the sellers left town for a week, etc, etc.

The info about needing something extra from a company is correct. Whenever a company or a trust is involved, additional paperwork is required to ensure the person buying/selling has the legal authority to do so.

I feel your pain -- no, actually, I have felt your pain. It can be an excrutiating process. Just console yourself with the knowledge that you have many years to enjoy your DVC.

 

[Cruelladeville]

I have felt your pain, too. Several years ago I found a timeshare thru TTS, and after a month or more of not hearing anything, I called and was told that the owners were dragging their feet. What they did not tell me was that the owners were in dispute with Disney over payment of dues, and Disney wouldn't sign off on the contract. After THREE months, I withdrew my offer on the contract(they never did sell their contract, I don't think), and bought thru Disney, where I was able to make ressies immediately, and had no trouble at all. Sometimes it does pay to go thru Disney.

 

[chorlick]

I asked today IF we could back out and she said if closing were delayed because of it then we could. That thought has crossed my mind! I'm sure it will all turn out ok, it's just frustrating. You think you've made it through the hard part.....ROFR.....and then this happens. Oh well, live and learn, but buying from Disney is starting to look better and better.

 

[chorlick]

You can put us back on the waiting list. Seems as though our contract which was sent back to ROFR to be cleared again. (We don't know what day that happened. We just learned this from the TSS after asking for help from them regarding what exactly was going on with this contract). We just found out yesterday thanks to the TSS. There has been a problem with the sellers trying to sell thier company property as private property, it had to be transferred which made it have to go back to Disney. If this doesn't pass, we are done. I like the Poly anyway!!!!