What happens now?!

[tarajean1962]

So, we just found out yesterday that we passed ROFR. I got an email from the broker as well to inform me of the Estoppel and closing document prep but realistically, what is involved in all of this and how long will it take? If there is already a thread regarding this, could someone point me to it? TIA. This forum is awesome!!

 

[Wingerphil]

just went through this, waiting on Welcome packet from Disney. We got our closing docs about 3 days after notification on passing ROFR. We signed them and sent the check back to the title company with the fed ex label they included in our docs packet. Our contract closed 2 weeks after they received our docs because they seller was a little slower getting their docs notorized and returned. Once it closes they get the deed recorded at the Orange County Comptroller's office. They have a website you can search for your name and it will show after recording. This process took about 3-4 business days to complete. Then it's back to Disney where they transfer ownership to you and send you your packet with membership number and you are in business. We did get two emails with codes to log onto the DVC website less than a week into that process but have to get the membership number to log in. Right now we are anxiously waiting on our packet to arrive, hoping this is the week but nothing yet. Once you send in all your stuff for closing it's just a waiting game for the rest to unfold.

If you are already a DVC member I believe it can go quicker since Disney will just add the new contract to your account and add points a day or two later.

Phil

 

[tarajean1962]

Thank you so much for that explanation and for sharing your experience!! I hope our turn around time goes as smoothly!!

 

[Marionnette]

So, we just found out yesterday that we passed ROFR. I got an email from the broker as well to inform me of the Estoppel and closing document prep but realistically, what is involved in all of this and how long will it take? If there is already a thread regarding this, could someone point me to it? TIA. This forum is awesome!!

DVC will verify the number of points in the contract, that there are no liens against it and that there are no pending reservations during the estoppel process.

Once that is done (it can take a few weeks or go very rapidly), then the closing documents are sent to both seller and buyer. The buyer does not have to notarize their documents but the seller does.

Once all documents and payment has been received by the title company, the sale should close within a day or two, depending on the title company. The deed gets recorded and DVC gets notified of the change in ownership.

After that, more waiting as DVC creates your membership, snail mails your membership number to you, emails you with a login access code and eventually gets around to giving you a login ID for the purpose of setting up your online account. If you’re already an owner and the contract is titled the same as exist contracts, then the new contract will be created in your account followed a week or two later with the points for that contract.

 

[DisneyOutsider]

just went through this, waiting on Welcome packet from Disney.

"Packet" is a bit generous. They'll send you a letter with your member ID. A couple sentences and a pat on the back.

 

[katandmouse]

Congrats!!

Now comes more waiting for closing through your title company and then for Disney to set up your account and load points.

The Closing Time thread is good for a sense of how long it could take: https://www.disboards.com/threads/closing-time.3392820/

 

[Wingerphil]

"Packet" is a bit generous. They'll send you a letter with your member ID. A couple sentences and a pat on the back.

don't doubt it a bit but still, last "event" in a 3 month long process. We are ready for it to be done and our adventures to begin.