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-   -   Resale - when do you pay? (http://www.disboards.com/showthread.php?t=3296234)

MJ6987 06-28-2014 10:37 AM

Resale - when do you pay?
 
Hi,
We are currently in the process of buying into DVC for the first time (100 points at BWV). It went to Disney for ROFR a week ago (22/6). Assuming it passes, when approximately will I need to pay? Just that I need to get the money out of savings. Thanks. :)

disneynutz 06-28-2014 10:43 AM

Quote:

Originally Posted by MJ6987 (Post 51746678)
Hi,
We are currently in the process of buying into DVC for the first time (100 points at BWV). It went to Disney for ROFR a week ago (22/6). Assuming it passes, when approximately will I need to pay? Just that I need to get the money out of savings. Thanks. :)

Contact your broker and ask them. Different brokers may have different payment terms.

:earsboy: Bill

MJ6987 06-28-2014 10:44 AM

Quote:

Originally Posted by disneynutz (Post 51746710)
Contact your broker and ask them. Different brokers may have different payment terms.

:earsboy: Bill

It's the Timeshare Store

han22735 06-28-2014 11:04 AM

Quote:

Originally Posted by MJ6987

It's the Timeshare Store

I used them as well recently. I had to send the check when I got the closing docs. So you're probably going to pay in about 45 days at the earliest.

MJ6987 06-28-2014 12:56 PM

Quote:

Originally Posted by han22735 (Post 51746842)
I used them as well recently. I had to send the check when I got the closing docs. So you're probably going to pay in about 45 days at the earliest.

Thanks

Msmithmd 06-28-2014 01:16 PM

I waited to move the money from savings until the day we heard it passed ROFR. No reason to do it any sooner.

When they send the closing paperwork out, your inclination as a buyer will be to hurry. The seller won't feel the same, and the sellers' forms have to be notarized.

So you easily have a week, even after you hear that you pass, before the funds' move needs to be complete. Also, the closing agency usually wants a cashiers check- which your bank may well be able to withdraw against your savings account directly in any case.

wildforgoofy 06-28-2014 02:12 PM

Quote:

Originally Posted by Msmithmd (Post 51747671)
I waited to move the money from savings until the day we heard it passed ROFR. No reason to do it any sooner. When they send the closing paperwork out, your inclination as a buyer will be to hurry. The seller won't feel the same, and the sellers' forms have to be notarized. So you easily have a week, even after you hear that you pass, before the funds' move needs to be complete. Also, the closing agency usually wants a cashiers check- which your bank may well be able to withdraw against your savings account directly in any case.

Exactly what we did.

Best Aunt 06-28-2014 02:57 PM

Timeframe
 
I'm currently selling through TSS. It took 30 days for Disney to waive ROFR. Then the title company had to wait for Disney to send them info about my contract, before they could prepare the closing documents. The closing documents arrived by e-mail 13 days after we were notified that Disney passed ROFR. As PP said, you're told to send a check when you get the closing documents.

LisaS 06-28-2014 07:46 PM

Quote:

Originally Posted by Msmithmd (Post 51747671)
When they send the closing paperwork out, your inclination as a buyer will be to hurry. The seller won't feel the same, and the sellers' forms have to be notarized.

It depends on the seller. We received our closing docs on a Friday. The closing company received our signed copies the following Tuesday. The sellers paperwork had already arrived by that time! We closed on Wednesday.

judydvc 06-29-2014 08:50 AM

Quote:

Originally Posted by LisaS (Post 51749648)
It depends on the seller. We received our closing docs on a Friday. The closing company received our signed copies the following Tuesday. The sellers paperwork had already arrived by that time! We closed on Wednesday.

When I sold I set my docs right back. Even though I was sad to say goodbye to my points.


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