Closing Time!!

[CvilleDiane]

Do all sellers have to have something notarized? Or are there only certain situations (like overseas sellers)??

They all get it notarized. First American hasn't heard a peep from our seller and we are supposed to close in less than a week per the original contract. Eek! I hope the seller isn't bailing -- they've tried email a couple of times now.

 

[Tlmb615]

They all get it notarized. First American hasn't heard a peep from our seller and we are supposed to close in less than a week per the original contract. Eek! I hope the seller isn't bailing -- they've tried email a couple of times now.

Oh no so sorry about that. I will keep my fingers crossed for you.

 

[1momof3boys3]

They all get it notarized. First American hasn't heard a peep from our seller and we are supposed to close in less than a week per the original contract. Eek! I hope the seller isn't bailing -- they've tried email a couple of times now.

Oh no! Not hearing back from email would make me nervous. Have they tried calling? I know quite a few people who NEVER check their emails. I have to call them every time. Maybe the sellers are like that. I hope!

 

[CvilleDiane]

Oh no! Not hearing back from email would make me nervous. Have they tried calling? I know quite a few people who NEVER check their emails. I have to call them every time. Maybe the sellers are like that. I hope!

I can't imagine living like that! I am nervous though, and I'll ask about calling if there isn't news tomorrow. I contacted Bonnie today, thinking maybe she could help. I know she said the seller definitely wanted to sell when we had some delay hearing back on our original offer.

 

[Jessica Knepfle]

Heres our timeline..

july 1 : put in offer
july 2nd: offer accepted
july 7 : sent to rofr
july 25: passed rofr
august 14: closing doc received by us
august 17: closing doc sent back
august 21st: title company received both our documents and sellers
no word yet on closing
I have been checking the comptroller website multiple times a day. hopefully we will hear more soon

 

[ywgckp]

I would guess this is the case of them not processing it yet. I know some are saying their membership was processed within a week or so, but when I closed on a contract in May, it took 2 weeks for the points to show up in my account. I think it varies widely based on their volumes of transactions which is different every day. Hang in there. It should show up in 2-3 weeks in your account if you are a current member.

It turns out it meant that it wasn't sent (or at least never received). So, my title company sent (or re-sent) the documentation to Disney, which they received on Tuesday. I called again today, and they are processing title changes sent on the 21st, so hopefully within the next couple of days.

I'm not sure what would have happened if I hadn't called... I suppose things would have waited for weeks.

 

[TexasChick123]

It turns out it meant that it wasn't sent (or at least never received). So, my title company sent (or re-sent) the documentation to Disney, which they received on Tuesday. I called again today, and they are processing title changes sent on the 21st, so hopefully within the next couple of days.

I'm not sure what would have happened if I hadn't called... I suppose things would have waited for weeks.

Yikes. Good to know. Ours was sent to Disney on 8/21 for the title change, so I guess I should know soon if it posts to my account. Thanks for the update.

 

[w84no1]

Boardwalk Villas
Points: 100
Broker: Fidelity
Closing: First American Title

Offer made 6/22
Offer accepted 6/26
Sent to ROFR: 6/30
Passed ROFR:7/15
Received closing docs: 8/3
Sent closing docs back: 8/4
First American Title sent missing closing docs: 8/8
Sent back: 8/8
First American Title sent more missing docs: 8/17
Sent back: 8/19
Buyer Documents received: 8/22
Seller Documents received: 8/17
Closed: 8/23
Deed Recorded: 8/23
Sent to Disney: 8/23

Waiting for member number!! Yay!!!

So even after a couple of delays it will be a little over 2 months from start to finish.

 

[Jessica Knepfle]

I saw our contract on the comptrollers website today...what come next? Do we just wait on points?

 

[ywgckp]

I saw our contract on the comptrollers website today...what come next? Do we just wait on points?

Yup - you can call in around 10 days and they might give you the account information by phone (make sure you're talking to member administration and not member services!).

Or, you can wait and you'll get a package in the mail a few weeks later.

 

[Ben E N]

Offer made 7/20
Offer accepted 7/21
Sent to ROFR: 7/21
Passed ROFR: 8/4
Received closing docs: 8/17
Sent closing docs back: 8/17
Buyer Documents received: 8/18
Seller Documents received: 8/21
Closed: 8/23
Deed Recorded: 8/24
Sent to Disney: 8/24

I was expecting 3 months, and it looks like everything got done in just over 30 days. Are things speeding up, or did I just get really lucky?

 

[TexasChick123]

Yup - you can call in around 10 days and they might give you the account information by phone (make sure you're talking to member administration and not member services!).

Or, you can wait and you'll get a package in the mail a few weeks later.

Did you call Member Admin to find this out?

 

[1momof3boys3]

Offer made 7/20
Offer accepted 7/21
Sent to ROFR: 7/21
Passed ROFR: 8/4
Received closing docs: 8/17
Sent closing docs back: 8/17
Buyer Documents received: 8/18
Seller Documents received: 8/21
Closed: 8/23
Deed Recorded: 8/24
Sent to Disney: 8/24

I was expecting 3 months, and it looks like everything got done in just over 30 days. Are things speeding up, or did I just get really lucky?

I think you got lucky! I made my offer on 6/30 and I'm still at the point where I'm waiting to close.

 

[Deb123]

Got word from our resale company that Estopel was finished yesterday morning and much to my surprise yesterday afternoon, we received our closing papers. Promptly got those fed ex'ed this morning with the funds. We passed ROFR on August 11, so very pleased with this process this time!

 

[amccu18007]

Got word from our resale company that Estopel was finished yesterday morning and much to my surprise yesterday afternoon, we received our closing papers. Promptly got those fed ex'ed this morning with the funds. We passed ROFR on August 11, so very pleased with this process this time!

That is a fantastic timeline! Who was your title company?

 

[1momof3boys3]

Animal Kingdom: 100 points
Broker: Fidelity
Closing: First American

Offer made & accepted 6/30
Sent to ROFR: 7/11
Passed ROFR: 7/30
Received closing docs: 8/11
Buyer Documents received: 8/14
Seller Documents received: .....
Closed: .....
Deed Recorded: .....

Just heard from First American. We are still waiting on the seller's docs. She said that they followed up with them, but have not heard back yet. =/

Updated: FA let me know that the sellers sent back the documents, but one of the forms was filled out incorrectly. Hopefully they receive the corrected form (early!) next week.

 

[Deb123]

That is a fantastic timeline! Who was your title company?

We are using Fidelity and First American

 

[TomL]

I was expecting 3 months, and it looks like everything got done in just over 30 days. Are things speeding up, or did I just get really lucky?

What an awesome timeline! Aulani took over 3 months; it must have moved on island time.

 

[TomL]

Yikes. Good to know. Ours was sent to Disney on 8/21 for the title change, so I guess I should know soon if it posts to my account. Thanks for the update.

My initial DVC resale contract took 3 weeks after closing before member services was able to provide my Membership ID. My add-on with same use year showed up online automatically 2 weeks after closing.

 

[TexasChick123]

My initial DVC resale contract took 3 weeks after closing before member services was able to provide my Membership ID. My add-on with same use year showed up online automatically 2 weeks after closing.

Thanks. Disney didn't "acknowledge receipt" of our title change until Thursday, so I was told it would be about another week or so before I had a new membership ID. I thought that they would just add it to my online account even if there was a different UY and resort, but she said I would have to add it to the online account after I got my new membership ID. Does anyone know which is right?