Was it the Broker or Timeshare Closing Service

[qgallo]

I waited 24 days for ROFR. I found out that disney passed on my contract on Sept. 18. I received a letter on the 19th from TCS that was dated Sept 11. So wonder who dragged their feet . If TCS found out around the 11th , why did they wait on telling the broker. Or did the Broker drag his feet on telling me. I dont think it was the broker , because I emailed him on 16th and he said hs has heard nothing, but he would let me know ASAP if he found out anything. These businesses should stay on their toes. They know that we are on pins and needles wanting to find out the good news or bad news.

 

[princetonnj]

Originally posted by qgallo
I waited 24 days for ROFR. I found out that disney passed on my contract on Sept. 18. I received a letter on the 19th from TCS that was dated Sept 11. So wonder who dragged their feet . If TCS found out around the 11th , why did they wait on telling the broker. Or did the Broker drag his feet on telling me. I dont think it was the broker , because I emailed him on 16th and he said hs has heard nothing, but he would let me know ASAP if he found out anything. These businesses should stay on their toes. They know that we are on pins and needles wanting to find out the good news or bad news.

I agree that all the companies need to have great feedback and communication with the buyers. I hope "they" all read these boards and are concerned with our feedback. Not sure how TCS could know about it on the 11th if Disney didn't pass until the 18th.

Which Real Estate company did you use?
Who was your contact person?

 

[qgallo]

I found out from the broker on the 18th not Disney. And the broker was Lee Reid Realty.

 

[princetonnj]

Well the good news is it passed. Congrats.

 

[ILPHIL]

We are currently sweating out our ROFR period. I emailed the broker last week and was informed that their normal practice was to only inform the buyer if Disney DID exercise their ROFR. I told her that seemed kind of backwards and she agreed to note our file that we wanted to be contacted if the deal went thru.
Am I alone in thinking that that is a totally strange approach for them to take???

 

[Dean]

Letter was done on Thursday the 11th. Likely mailed on Friday and you got it on the 18th with a weekend in between. It's even possible it it wasn't mailed until Monday. In either scenario, I don't think those are unreasonable choices for the company. They likely mailed a letter to the broker at the same time who got it 2 or 3 days earlier than you and called you or they called the broker to give them a head's up. What was the postmark on the envelop?

 

[princetonnj]

Originally posted by ILPHIL
We are currently sweating out our ROFR period. I emailed the broker last week and was informed that their normal practice was to only inform the buyer if Disney DID exercise their ROFR. I told her that seemed kind of backwards and she agreed to note our file that we wanted to be contacted if the deal went thru.
Am I alone in thinking that that is a totally strange approach for them to take???

We recently made it thru ROFR and had the same experience.
I was told that they do 60 deals a month and that their "procedure" is to only notify the buyer when Disney exercised their ROFR. BUT.... Pat Spell at the Timeshare Store said she would call me if they heard anything. She called me the next day with the good news.

I understand why their procedure is as such but IMO it would be so easy to send an email or a quick call to let you know.
I was pleasantly surprised when Pat was able to follow up and let us know we had passed.

 

[Nink]

I sent my original information in during August. On 8/22, Pat confirmed that all paperwork had gone to Disney for ROFR.

I called her on 9/11 and she again confirmed that Disney had OK'd the purchase.

I received a letter from TCS on 9/16, dated 9/11 and the envelope postmarked 9/12. I faxed back to them on 9/17, the information needed.

Now I am just waiting. This is the hard part. According to their letter, they are now running a title search, and ordering Estoppel information. When they have this, then a Closing Instruction Package is to be sent. The package is due back within a week. It takes 4-6 weeks for the County to file the record. Once received, the title insurance policy is sent out within 60 days.

It looks like a lot of time, but once the records are in the County, then it is yours!

 

[TheRustyScupper]

1) It doesn't seem like a long time.
. . . mail can frequently be en route for a week
. . . many firms send mail out only once or twice per week

2) Most real estate firms only notify when deals go sour
. . . there is a set procedure for transactions
. . . some real estate and timeshare steps simply take time
. . . one "assumes" things are progressing normally

3) The important thing is that everything went well !

 

[qgallo]

I can see that it doesnt look like a long time if they are using snailmail for this. But this day in time emails are quick and free. Like I said , I dont think its any fault of the broker, but TCS could use email to notify all parties involved.

 

[Dean]

Originally posted by qgallo
I can see that it doesnt look like a long time if they are using snailmail for this. But this day in time emails are quick and free. Like I said , I dont think its any fault of the broker, but TCS could use email to notify all parties involved.

Most companies who rely on documentation don't to email at this time. Confidentiallity is difficult if not impossible to ensure. I doubt they do email in this situation just like few physicians offices do. The delay was normal and expected. It seems unreasonable to be upset with them in this situation. Would you be more upset if you knew they actually had the info for a week before that, which I suspect is the case. I assume they sent you out the closing statement and directions. When I closed last, I just got the closing info and not an idication about the ROFR. I just assumed it had gone through.

 

[qgallo]

Thanks for clearing this up Dean, and BTW I am not upset, just didnt no that everything was done by mail. Very excited that it passed Disney and cant wait till my trip back in June.

 

[Dean]

Originally posted by qgallo
Thanks for clearing this up Dean, and BTW I am not upset, just didnt no that everything was done by mail. Very excited that it passed Disney and cant wait till my trip back in June.

Congratulations, I'm sure you will enjoy DVC and your time on DIS. Welcome home.