Responsibilities of the title company
Please forgive my ignorance, but can someone please tell me what activities in a dvc resale the title company is responsible for performing?
The title company will prepare the ROFR documents to send to DVC. Once the ROFR waiver has been given by DVC, the title company will prepare the closing documents - describing the financial details of the transaction - amounts paid by the buyer, seller, amounts paid to brokers, amount of dues already paid by seller to be refunded by buyer (if any), closing cost/recording amounts to be paid to the county, etc. .
Once the documents have been signed and all funds appropriately disbursed, the title company will forward the deed to the appropriate county to be recorded and forward the same information to DVC to be entered into their systems.
Time issues typically will happen when seller (or buyer) is not prompt regarding signing and returning required documents needed for the closing, delays by DVC regarding ROFR, time required to record the deed by the county and delays by DVC in entering the new owners in the system and sending the DVC documents to the new member.
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