When is final payment usually due?

[J Spaziani]

Hi there,

Getting exciting about my upcoming first DVC purchase! Question. I’m trying to plan for my cash outflow for the next couple months. My closing date is slated for July 11. I’ve only made the initial escrow payment so far. Any idea how many days before the July 11th closing date final payment would be due?

Thanks in advance and thanks for all the help this board provides!

-Jeff

 

[huskerfanatic7]

Depends on how long ROFR takes. You usually send the final pmt with the closing documents. My ROFR took 21 days and got closing docs 14 days after that. So mine was 35 days after putting in my offer just as an example

 

[princesscinderella]

Yep plan for final payment anywhere from 35-45 days from signing the contract with the pace Disney is waving ROFR.

 

[J Spaziani]

Yeah. ROFR is passed. I guess my question is more, how many days before closing is customary to have full payment in by? Or even when is the latest I can have it in by? Thanks!

-Jeff

 

[Sandisw]

Yeah. ROFR is passed. I guess my question is more, how many days before closing is customary to have full payment in by? Or even when is the latest I can have it in by? Thanks!

-Jeff

Many have not sent until the know the seller has submitted the signed contract.
As soon as everyone does, and you send payment, they will close the contract, So, it could be before July 11th.

I plan to do that for the contract I am currently buying.

 

[huskerfanatic7]

I have been involved in 4 contracts and none of them came even close to the actual close date stated on the contract. It always closed atleast a 2-3 weeks ahead

 

[Lee Matthews]

So I have a closing date of July 10th for my AKL contract. Ive received my closing docs and just sorting a notary.

Once done I can going to ship the documents back and wire transfer online the closing funds (UK resident) but is it right that while I can send my documents back, I should hold off paying the closing costs until my seller has sent back their documents

 

[sndral]

So I have a closing date of July 10th for my AKL contract. Ive received my closing docs and just sorting a notary.

Once done I can going to ship the documents back and wire transfer online the closing funds (UK resident) but is it right that while I can send my documents back, I should hold off paying the closing costs until my seller has sent back their documents

It’s up to you. I’ve always signed/returned and wired the $ at the same time & before the sellers returned their documents because I didn’t want anything on my end to slow things down. I’m in the U.S., though. It has made me a bit impatient waiting for the sellers to sign/return their documents once I’ve done everything on my end.
Others sign and return docs but wait for the sellers to sign before they send the money. Wiring does cost a little bit - not sure of the price for international, & if the sellers backed out you’d be out that cost, plus the hassle of getting your money back & in your case maybe exchange fees?

 

[we"reofftoneverland]

Yeah. ROFR is passed. I guess my question is more, how many days before closing is customary to have full payment in by? Or even when is the latest I can have it in by? Thanks!

-Jeff

If you have passed rofr, you could need the money in a week, or it could be a month. However long it takes for your title company to send you closing docs.