When does a direct purchase close?

[AdamsMum]

I made a small direct buy on November 16. Final payment of the balance will be January 13. Will that trigger the closing? I have this pending dues line in my account, but it doesn't give the amount. Paid my other dues today. I don't like being late, even if it isn't due to my own actions.

 

[Mouseforward]

Mine took 45 days

 

[Sandisw]

It typically closes shortly after the final payment. Mine was within a week and my dues were updated then with the amount due.

 

[drusba]

That final payment should trigger a closing, after which DVD will file the deed with local government authorities. How long it can take for those actions to occur varies. But it is not until those have occurred that you will actually be billed for dues, which updated amount should show up in your account and will include both your 2025 dues and your pro-rata share for mid-Nov through Dec 2024. You will then have some time to pay those new dues before any penalty can be applied.

 

[davidhr]

Just a note. Just because the final payment was made doesn’t necessarily mean that everything is ready to close.

While people should wait until everything is ready, most people wire the money as soon as the title company tells them to. Sometimes the sellers haven’t completed their paperwork by that time.

 

[AdamsMum]

Just a note. Just because the final payment was made doesn’t necessarily mean that everything is ready to close.

While people should wait until everything is ready, most people wire the money as soon as the title company tells them to. Sometimes the sellers haven’t completed their paperwork by that time.

It's a direct purchase. But thanks.

 

[davidhr]

It's a direct purchase. But thanks.

Oh missed that part. My bad.

For my direct purchases it took a few weeks after final payment to see the dues.

 

[Steelers0854]

My final payment was 12/26, by 1/2 I had my title insurance docs and on 1/3 (I didnt check on the 2nd so could have been there then) the deeds were available to download from the state website.