Closing Time!!

We were notified of our add-on contract closing on Friday, 2/12. I would imagine that the contract will record with the OCC office early this week, then the wait for our new points to transfer into our account. 8 weeks and counting. Our timeline thus far....

12/19 OFFER ACCEPTED
12/21 CONTRACT SIGNED AND RETURNED WITH DEPOSIT
1/20 PASSED ROFR
2/4 RECEIVED ESTOPPEL
2/5 RECEIVED CLOSING DOCUMENTS
2/6 RETURNED CLOSING DOCUMENTS AND PAYMENT
2/12 NOTIFIED OF CONTRACT BEING CLOSED
 


For those of you who have been through this process, is it truly about 2 months from offer to having your DVC # and able to book a trip, or longer? Just trying to be realistic over here :worship:
 
Mainemom23 said:
For those of you who have been through this process, is it truly about 2 months from offer to having your DVC # and able to book a trip, or longer? Just trying to be realistic over here :worship:
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Realistically, plan on it being longer, and you won't be disappointed. Chances are extremely slim that you'll be able to book a trip within 2 months from offer when buying resale. 3 months is much more realistic than 2 months.

I think many people end up impatient and disappointed in the process because they see a few people here whose contracts went through in 6-8 weeks, and set their expectation on that. Problem is, that's the exception, not he norm. Your broker will set a closing date on your contract, and that's the only date you should focus on. They generally close a little quicker than the stated closing date, but no guarantee. Focus on your contract's closing date, and chances are, you won't be disappointed in the process.
 


DisBuckMan said:
Realistically, plan on it being longer, and you won't be disappointed. Chances are extremely slim that you'll be able to book a trip within 2 months from offer when buying resale. 3 months is much more realistic than 2 months.

I think many people end up impatient and disappointed in the process because they see a few people here whose contracts went through in 6-8 weeks, and set their expectation on that. Problem is, that's the exception, not he norm. Your broker will set a closing date on your contract, and that's the only date you should focus on. They generally close a little quicker than the stated closing date, but no guarantee. Focus on your contract's closing date, and chances are, you won't be disappointed in the process.
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I am the person DisBuckMan is describing, impatient. On my first try, I was informed on the 29th day that Disney was exercising its ROFR.

You can see where I am now in my signature line on my second try. My closing date on my contract is February 29th. I never thought it would take that long. (PS- Then after closing the fun starts in waiting for the membership number and points to be added to the account). Good Luck.
 
I have been on the buying and selling end of real estate transactions, however, nothing like buying Disney resale. Even though I did not know I was purchasing from a Canadian seller when I made my offer (TSS has since disclosed this info in their listings), I was hoping the seller would be as motivated as I am to purchase it. *** emailed us the closing package the same day as they told me they received the estoppel paperwork from Disney. I returned the paperwork (including payment, lol) the same day (silly I know). The seller has informed *** they returned the package, however, since it has not been received yet, the assumption is the package was sent regular Canadian mail with no tracking possibility. Since the seller is located in Canada, even after *** receives the seller's paperwork, there is an additional process (time frame?) that has to be done with the seller prior to closing being filed.

The closing on my contract states 2/29. What if *** has not closed by this date? It was a Aug UY contract with all the 2015 points available. Since the last bank date of 3/31 is approaching, should I do anything at this point or ASSUME that I will have my membership number prior to 3/31? I was hoping that I could make a reservation for early May and think if 2015 points are banked I will be borrowing from the actual 2016 points allotment, correct?
 
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My seller has not paid the 2016 dues. Since the 2016 dues are past due after today, I assume this will not cause any delays as the proceeds distributed to the seller will simply be less this number as part of the general closing. Correct?
 
hayesdvc said:
My seller has not paid the 2016 dues. Since the 2016 dues are past due after today, I assume this will not cause any delays as the proceeds distributed to the seller will simply be less this number as part of the general closing. Correct?
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*** paid our dues directly. I did send them an e-mail when I sent in my closing docs asking if this would be done. When I logged onto the site it was the first thing I checked & there was a $0 balance for 2016.

I think I read that when a sale is pending DVC holds off on collecting the dues until the sale is closed.
 
marisabuzz said:
No luck meaning that time I said I received the welcome package and flat out asked if I can have my member number. She said they don't give it out over the phone and to wait for my letter.

I built up the courage to call back 5 minutes later with a different approach. Said I closed over a month ago, but received nothing yet and asked if they can check the if I was in the system yet. She looked up my name and I gave the old owners contract number. Said she was going to ask someone for help. Came back a few minutes later and said she found me. Said we have a new contract number because the old one belongs to the previous owner. She kindly gave me our member and contract number. FINALLY!
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Congratulations! And well done on calling back after being denied.

FWIW, I *still* haven't gotten a membership number in the mail, and it's been 7 weeks now since the deed was recorded. Not that I need it anymore, I'm just curious when (or if) it will come. Maybe after they gave me the number over the phone they decided they didn't need to send it? Or maybe it got misdelivered. In any event, I am super glad I called when I did. I think I'd have gone crazy by now if I was still checking the mail every day.
 
Mainemom23 said:
For those of you who have been through this process, is it truly about 2 months from offer to having your DVC # and able to book a trip, or longer? Just trying to be realistic over here :worship:
Click to expand...

For me, it took fully 4 months from ROFR submission. There were no unusual or extenuating circumstances, except perhaps the Christmas and American Thanksgiving breaks. Most of it proceeded as I expected, even if often on the longer end of the "expected" range. It wasn't until the last step (obtaining the member number) that I became somewhat impatient, after 3-4 weeks of waiting. If I hadn't been able to get the number over the phone, I'd still be waiting now (and it would be closer to 5 months).

So I agree with DisBuckMan - assume at least two to three weeks past your "close by" date before you will receive your membership number. Usually at least 3 months total, and often more.
 
hayesdvc said:
I have been on the buying and selling end of real estate transactions, however, nothing like buying Disney resale. Even though I did not know I was purchasing from a Canadian seller when I made my offer (TSS has since disclosed this info in their listings), I was hoping the seller would be as motivated as I am to purchase it. *** emailed us the closing package the same day as they told me they received the estoppel paperwork from Disney. I returned the paperwork (including payment, lol) the same day (silly I know). The seller has informed *** they returned the package, however, since it has not been received yet, the assumption is the package was sent regular Canadian mail with no tracking possibility. Since the seller is located in Canada, even after *** receives the seller's paperwork, there is an additional process (time frame?) that has to be done with the seller prior to closing being filed.
Click to expand...

I just have to point out that if you go through back threads, there are plenty of American sellers who are also "unmotivated" and therefore delayed on returning documents. This is really nothing that is unique to "Canadian sellers". And while your sellers might or might not have used tracked or expedited mail to send their documents, the regular mail delivery standard between major Canadian and US centres is usually about 4 days. It's not a major delay.

As a buyer, it took me some time (about a week) to get my documents in the mail, and then I sent them by 2-day delivery. So it was about a week and half before the title company received them. My American sellers executed their deed after my documents were received by the title company. And then they still would have had to return them. I know this because I have both the dated deed, signed in Michigan, and the tracking information on my own documents.

So while you are welcome to blame the delay on your sellers, please don't delude yourself into thinking it has anything to do with their nationality or place of residence. Doing so is both unreasonable and unfair, and unjustly gives all international sellers a bad name. There may be some small part of the delay that can be directly attributed to the international sale, but it's likely insignificant on the overall process - at most a few days.
 
mab2012 said:
For me, it took fully 4 months from ROFR submission. There were no unusual or extenuating circumstances, except perhaps the Christmas and American Thanksgiving breaks. Most of it proceeded as I expected, even if often on the longer end of the "expected" range. It wasn't until the last step (obtaining the member number) that I became somewhat impatient, after 3-4 weeks of waiting. If I hadn't been able to get the number over the phone, I'd still be waiting now (and it would be closer to 5 months).

So I agree with DisBuckMan - assume at least two to three weeks past your "close by" date before you will receive your membership number. Usually at least 3 months total, and often more.
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For clarification, the ones that are calling and are able to get your membership number to make your initial reservation, I assume you are making the reservation with MS since you do not have your activation code to set up the DVC on line account. Correct?
 
hayesdvc said:
For clarification, the ones that are calling and are able to get your membership number to make your initial reservation, I assume you are making the reservation with MS since you do not have your activation code to set up the DVC on line account. Correct?
Click to expand...

No, once you get your actual member number, MS can give you your activation code so you can get set up online.
 
hayesdvc said:
For clarification, the ones that are calling and are able to get your membership number to make your initial reservation, I assume you are making the reservation with MS since you do not have your activation code to set up the DVC on line account. Correct?
Click to expand...

I actually was emailed an activation code before I called to get the membership number (which made the "we can't find you in the system" line a bit difficult to believe). But the membership number is the important part. Once you have that they'll set you up with the rest.
 
mab2012 said:
Congratulations! And well done on calling back after being denied.

FWIW, I *still* haven't gotten a membership number in the mail, and it's been 7 weeks now since the deed was recorded. Not that I need it anymore, I'm just curious when (or if) it will come. Maybe after they gave me the number over the phone they decided they didn't need to send it? Or maybe it got misdelivered. In any event, I am super glad I called when I did. I think I'd have gone crazy by now if I was still checking the mail every day.
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Thanks. I persevered even though I was discouraged after every rejection.

I'm curious what happened in your situation. Waiting for the membership number via snail mail is the worst wait of this whole process.
 
DisBuckMan said:
No, once you get your actual member number, MS can give you your activation code so you can get set up online.
Click to expand...


If you are a lucky one and MS gives you your membership number, do they give you the activation code too or is it best to hang up and call back ?
 
hayesdvc said:
The closing on my contract states 2/29. What if *** has not closed by this date? It was a Aug UY contract with all the 2015 points available. Since the last bank date of 3/31 is approaching, should I do anything at this point or ASSUME that I will have my membership number prior to 3/31? I was hoping that I could make a reservation for early May and think if 2015 points are banked I will be borrowing from the actual 2016 points allotment, correct?
Click to expand...

Yes you would be using 2016 points. I think it's best to assume worst case scenario and think that getting your number by end of March might be tight.

mab2012 said:
I just have to point out that if you go through back threads, there are plenty of American sellers who are also "unmotivated" and therefore delayed on returning documents. This is really nothing that is unique to "Canadian sellers". And while your sellers might or might not have used tracked or expedited mail to send their documents, the regular mail delivery standard between major Canadian and US centres is usually about 4 days. It's not a major delay.

As a buyer, it took me some time (about a week) to get my documents in the mail, and then I sent them by 2-day delivery. So it was about a week and half before the title company received them. My American sellers executed their deed after my documents were received by the title company. And then they still would have had to return them. I know this because I have both the dated deed, signed in Michigan, and the tracking information on my own documents.

So while you are welcome to blame the delay on your sellers, please don't delude yourself into thinking it has anything to do with their nationality or place of residence. Doing so is both unreasonable and unfair, and unjustly gives all international sellers a bad name. There may be some small part of the delay that can be directly attributed to the international sale, but it's likely insignificant on the overall process - at most a few days.
Click to expand...

I'm with mab2012. To assume that the delays are caused specifically by having a Canadian seller is presumptuous. Do you know any Canadians? We are not (all) like this:

Also, everything that DisBuckMan has said is all true.
 
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