Why are contract wait times so long right now?

[Alicia22]

I am just wondering if we can point to any specifics as to why each step in the process is going so slowly. I am buying my third resale contract. The first two sales were completed in expected timeframe. However, this one from rofr to prep of documents has taken much longer, and I am especially nervous since I am facing both a use-or-lose and a banking deadline. Had I known each step would take excessive time to complete, I would definitely have rethought my choice. Are others finding long delays?

 

[RKS03]

As far as getting closing documents I’d say it depends on the title company. I got mine from Mason quickly.

 

[Sandisw]

Things have changed over the past few years and wheee you might have been able to get it all done within 4 to 5 weeks, it’s now more like two to three months.

Even when they are the buyer, they are not in any rush.

 

[Mexacajun]

I am just wondering if we can point to any specifics as to why each step in the process is going so slowly. I am buying my third resale contract. The first two sales were completed in expected timeframe. However, this one from rofr to prep of documents has taken much longer, and I am especially nervous since I am facing both a use-or-lose and a banking deadline. Had I known each step would take excessive time to complete, I would definitely have rethought my choice. Are others finding long delays?

Having had 2 contracts pass ROFR recently, I am pretty frustrated with the pace to close. Both are loaded contracts and I want to use the points but I am afraid I will not have the opportunity to get what I want once everything is complete. Feels like staffing may be an issue?? I am not sure. Maybe I just came in at the wrong time.

 

[Warriorfish5392]

I am just wondering if we can point to any specifics as to why each step in the process is going so slowly. I am buying my third resale contract. The first two sales were completed in expected timeframe. However, this one from rofr to prep of documents has taken much longer, and I am especially nervous since I am facing both a use-or-lose and a banking deadline. Had I known each step would take excessive time to complete, I would definitely have rethought my choice. Are others finding long delays?

I am waiting on ROFR right now, but I have heard here on the boards that some title companies are taking longer than usual. One person told me that their closing was held up weeks due to a covid breakout in the office. Good luck to you on a speedy process!!

 

[Micca]

Is it too late to blame the logjam in the Panama Canal??

 

[BillPA]

It's just one more example of Disney's total lack of caring about it's customers.

 

[varyth]

Disney already waived ROFR in my case but still no closing docs from the title company. No real rush on my end as there are no points available until next year, but I feel bad for the sellers waiting on the money. I can only assume they were very motivated based on the pricing.

 

[sndral]

It’s always been hit and miss.
ROFR by DVC is about the same as always - 30 days give or take, at least DVC isn’t taking a couple of weeks after ROFR to issue estoppels anymore. https://www.disboards.com/threads/come-on-estoppel.3385440/
Title company preparing documents - this is where you can add an unnecessary 2+ weeks to the wait if you have a slow title company.
Some sellers are quick, others not so much, it’s very much luck of the draw, although some agents are more proactive in reaching out to dawdling sellers. My first resale contract several years ago took a long time because the sellers took forever to return their documents after we passed ROFR.

 

[The Jackal]

Is it too late to blame the logjam in the Panama Canal??

It’s not the canal. I heard from a bus driver that they are training the DVC ROFR CM’s to drive the Minnie vans ( if you can remember them) so they can be more efficient and do ROFR in between rides.

 

[Huskerpaul]

Some sellers are quick, others not so much, it’s very much luck of the draw, although some agents are more proactive in reaching out to dawdling sellers. My first resale contract several years ago took a long time because the sellers took forever to return their documents after we passed ROFR.

I had a feeling when the sellers sent back the sales agreement within hours of recieving it that waiting on the sellers was probably not going to be a concern.

Title company however...spelled my wife's last name wrong (same as mine which was correct) and got our address wrong. Literally the only two things I'm paying for them to fill out on my behalf. But they got paperwork turned around fairly quickly so that goes on the plus side.

 

[DisMagicMa]

I thought it was just me! The ROFR period was pretty quick IMO - about 3 weeks. Estoppel was issued at the same time. But I just received a kind of snarky email from the resale company checking on whether or not I had completed my closing docs and sent payment - which I did almost two weeks ago. It seems as though the title company is just taking its time. Meanwhile, my banking deadline is slowly approaching

 

[Her Dotness]

Something to consider currently is the high rates of covid Florida has had for several months.

We had quite a title company delay on the first of two resales we bought in the last four months.

The reason the broker gave us was that the person processing it had been out with covid for over a week.