Waiting to Close.....

[msteddom]

I don't want to jinx myself by asking this, but here it goes. I am waiting to close on a 50 point BWV contract. I have passed ROFR, I sent in final payment and now I'm just waiting to hear that I have closed. The docs arrived in Orlando on Friday, so I know I have about a week (at least) to go. So here are my questions:

1) Can the seller still back out?
2) If they do back out is there any sort of penalty for them? I know if I back out I loose my deposit. I feel like it should work both ways, but I doubt it does.
3) When can I safely add a BVW logo to my signature?

Thanks!

Melissa

 

[bangzoom6877]

I don't want to jinx myself by asking this, but here it goes. I am waiting to close on a 50 point BWV contract. I have passed ROFR, I sent in final payment and now I'm just waiting to hear that I have closed. The docs arrived in Orlando on Friday, so I know I have about a week (at least) to go. So here are my questions:

1) Can the seller still back out?
2) If they do back out is there any sort of penalty for them? I know if I back out I loose my deposit. I feel like it should work both ways, but I doubt it does.
3) When can I safely add a BVW logo to my signature?

Thanks!

Melissa

I believe that according to Florida state law, the seller and buyer both have 10 days to back out of the contract, once the initial contract is signed. So as long as those 10 days have passed there would be a penalty for either party for backing out.

I was worried with this too. Now we closed and I am awaiting my membership #. Hang in there, it will happen soon!!! I already added my first trip home to BWV to the bottom of my signature, though not the logo yet! Have to figure out how to do that!!

 

[thesupersmartguy]

Hi Bonnie, you can put a DVC user bar in your signature as follows. Take the spaces out between the and the words url, and the space at the end between url and [img].

Hope this helps.

[IMG] [url]http://i298.photobucket.com/albums/mm275/thesupersmartguy/BWVFinishedcopy.jpg[/url]

 

[Laneychris]

Good Luck!

 

[backyardponder]

Penalties are dictated by the contract. I suggest you take a look at it to see.

In my case, our contract had penalties against me (the buyer), but none for the seller. This didn't bother me since the worst case was the seller would back out, I'd get my deposit back, and I'd make an offer on a different contract. I suppose one could sue the seller if the seller backed out, but that isn't probably worth anyone's time or expense.

 

[Belle & Ariel]

If the seller backs out, they still have to pay commission to the broker but you don't get anything. I do not think many back out at this time--maybe when contract is presented but not very likely now.
You should be closed soon. Good luck and try not to worry!