Closing Time!!

[sndral]

So our deed was recorded on 8/3. We purchased direct originally and this was an add on through resale. Is it too early to call and ask about adding our points?

If you already have a membership and your deeds are titled the same you should just see your new contract appear in your DVC account & won't need to call at all.

 

[disfamof6]

If you already have a membership and your deeds are titled the same you should just see your new contract appear in your DVC account & won't need to call at all.

It appeared this afternoon. I guess it took them a week to load my new info. Thanks!

 

[ywgckp]

My first post here, moving over from the ROFR board:

275 BWV contract, December use year

Offer accepted: 7/7
Submitted to ROFR: 7/10
Passed ROFR: 7/25
Estoppel: 7/26
Closing Documents Received: 8/1
My Closing Documents Sent: 8/4 (received 8/7)
Sellers Closing Documents Sent: ???

I moved through ROFR on schedule and had Estoppel done immediately - now stuck on waiting for the sellers to return their documents. We're at 10 days and counting... I suppose something in the process has to be inefficient, but it's frustrating, especially as I have a few bookings I would like to make...

 

[1momof3boys3]

That's awesome! I'm using Fidelity and it seems that they move at a slower pace.
June 30th- offer made/accepted
July 11th- sent to ROFR
July 30th- ROFR waived
--waiting on closing docs

Just got the closing docs from First American!

 

[Toreby]

Just got the closing docs from First American!

Congrats!

Make sure to check to see if they included the signature block on page 2 of the settlement statement...

 

[1momof3boys3]

Congrats!

Make sure to check to see if they included the signature block on page 2 of the settlement statement...

Page 2 does say it's a "ALTA Settlement Statement" and does have an area for signatures. Thanks for the heads up!

 

[AzGoofyDad]

Soooo clooose, I closed 8/3, currently they are working on 8/2

I am officially done, got activation code, points were in my account, booked a January trip to stay in 1 bedroom Savanna View at Kidani House.

Good luck to everyone else working through the process.

 

[1momof3boys3]

I just left FedEx, mailing off my closing paperwork and cashier's check. I'm not sure if it was this thread or a different one, but someone was asking if the closing docs included paid shipping. Mine did. Fidelity is using First American for my closing and there was a FedEx shipping label included. Just FYI. =)

 

[ArielSRL]

So I am brand new to this thread and DVC! We are purchasing a 100 pt contract at BRV through DVC Resale market, using Magic Vacation Title. Contract listed, we offered, and it was accepted on 7/5, submitted to Disney for ROFR 7/7, Disney waived today 7/25.

Still waiting on estoppel. It's been about 17-18 days, based on my hopefully accurate counting. DVC Resale Market's email said 20-30 days, so hopefully next week, though I suppose it could just as easily be the week after. I was hoping for quicker as I have seen quick turn-around from these companies posted here.

So far the availability for our trip is still wide open, thanks to my member friend for checking.

 

[Spork24]

Our points showed up in our account today! It's been a long summer of waiting, but it's nice to have the process complete now.

Unfortunately one of our travel companions we were planning a trip next summer with backed out tonight. So I have mixed dvc emotions right now.

 

[1momof3boys3]

Does anyone know how the closing documents are handled? I sent my signed papers on Saturday, with an arrival date of Monday (today!). Does the title company send those exact documents to the seller to also sign? Or do they get their own copies? If they sign the ones I did, do you know if they get the original documents mailed to them or if they get a scanned copy electronically? *I should mention that this closing is through First American.

 

[CvilleDiane]

Does anyone know how the closing documents are handled? I sent my signed papers on Saturday, with an arrival date of Monday (today!). Does the title company send those exact documents to the seller to also sign? Or do they get their own copies? If they sign the ones I did, do you know if they get the original documents mailed to them or if they get a scanned copy electronically? *I should mention that this closing is through First American.

You both get a copy. I just got confirmation from Cammy that our wire was received and we are pending seller returning their documents! This wait feels easier than ROFR even though I'm mulling my first reservation every day.

 

[skippytx]

My resale purchase has been moving along real quickly until closing. Sent everything back last Monday, which they received, last Tuesday Aug 8th and it's been radio silence since. I'm hoping this is normal?

 

[LilyJC]

My resale purchase has been moving along real quickly until closing. Sent everything back last Monday, which they received, last Tuesday Aug 8th and it's been radio silence since. I'm hoping this is normal?

If you're using Fidelity and First American that sounds about right....

 

[skippytx]

If you're using Fidelity and First American that sounds about right....

Nope - Magic Vacation Title and DVC Resale Market. I'm nervous the seller might want to back out and relist since they could probably command $15 more a point than I paid. They might just be having trouble finding time to get to the notary. Who knows.

edit: That wouldn't make sense, if seller backs out they owe the full commission to the agent which would wipe out the extra $ of backing out and selling again.

 

[RKS03]

Nope - Magic Vacation Title and DVC Resale Market. I'm nervous the seller might want to back out and relist since they could probably command $15 more a point than I paid. They might just be having trouble finding time to get to the notary. Who knows.

edit: That wouldn't make sense, if seller backs out they owe the full commission to the agent which would wipe out the extra $ of backing out and selling again.

Would the brokers enforce the commission though? It's not like they have the cash? Practically I think the sellers could just walk away. On the other hand they actually do have money on hand from the buyer's down payment so they probably would keep this if buyer walked.

As a buyer I was also worried about this but it looks to be working out. I'm waiting to call Disney in about a week to see if I can get the account number. Hopefully yours will come through too.

 

[LilyJC]

Nope - Magic Vacation Title and DVC Resale Market. I'm nervous the seller might want to back out and relist since they could probably command $15 more a point than I paid. They might just be having trouble finding time to get to the notary. Who knows.

edit: That wouldn't make sense, if seller backs out they owe the full commission to the agent which would wipe out the extra $ of backing out and selling again.

I'd definitely recommend calling your broker to see what's going on and whether they've heard from the seller. Most contracts state the seller will be responsible for paying fees if they flake out. I wouldn't stress though - I'm guessing they just haven't gotten around to having the form notarized.

 

[ywgckp]

OK, I think I'm closed! Just waiting for points:

275 BWV contract, December use year

Offer accepted: 7/7
Submitted to ROFR: 7/10
Passed ROFR: 7/25
Estoppel: 7/26
Closing Documents Received: 8/1
My Closing Documents Sent: 8/4 (received 8/7)
Sellers Closing Documents Sent: 8/9 (received 8/14)
Deed Recorded, on OC Comptroller Site: 8/15
Account Number: ??
Points in Account: ??

Based on what others have said, I'll call DVC in 10 days, and ask for Member Administration, to see if I can get my account number.

My title company says they have sent everything off to Disney, and I will hear from them in 3-4 weeks, and they will mail completed documents to me at that time.

 

[fearthisinc]

UPDATE!!

Animal Kingdom 400 Points
Broker: The Timeshare Store
Closing Company: First American Title

Offer accepted: 6/23/17
Contract Received: 6/24/17
Contract Returned: 6/26/17
Sent to ROFR: 6/26/17
Passed ROFR: 7/11/17
Closing documents received: 7/27/17
Closing documents sent: 7/28/17 (estimated arrival via Fed-Ex on 7/31/17)
Buyer Documents Received: 07/31/17
Seller Documents Received: 08/05/17
Closed: 08/11/17
Deed Recorded: 08/11/17
Documents received by Disney: ???
Membership Number Received: ???
Points loaded: ???

 

[Tlmb615]

Animal Kingdom 25 points
Broker: Fidelity
Closing: First American

Offer made & accepted 6/26
Sent to ROFR: 6/28
Passed ROFR: 7/15
Received closing docs: 7/28
Sent closing docs back: 7/29
Buyer Documents received: 7/31
Seller Documents received: 8/11
Closed: 8/11
Deed Recorded: 8/15

Waiting...