Resale Timeline...Updated - The DIS Discussion Forums

MissScarlet · 10-09-2009, 10:47 AM

We are still in the resale buying process, but wanted to post our timeline, as it seems to be taking a long time. We really wanted a small contract, but now I am wishing we would have bought from Disney. The contract comes with 2008 points which we will need to use asap.

7/31 Offered the asking price minutes after receiving resale listing email. Received contract later that night.
8/1 Had to call to get corrected contract as there were typos. Sent out contract and deposit check Fed-Ex priority overnight the same day.
8/4 Received email that contract and deposit had been received.
8/8 Received email that contract has been sent to Disney for ROFR.
8/18 Received email with closing agents info.
9/1 Received email that Disney waived ROFR.
9/17 Still had not received closing docs, sent email to closing agent.
9/18 Received email…Disney was waiting for a document from the seller before they would release estopple. Seller does not remember receiving this document.
9/24 Received our closing documents by email. Sent them out fed-ex priority overnight with payment the same day.
9/25 Closing company received our closing docs and payment. (9/25 should have been our closing date according to the contract…)
9/28 Was notified that closing company lost our documents. Faxed in copy of closing documents. Notified that we are “priority closing”.
10/8 Still had not heard anything regarding closing, called agent.
10/9 Notified that seller still has not signed papers. Seller does not remember receiving closing documents. Notified that we are “priority closing”.

backyardponder · 10-09-2009, 11:19 AM

Unfortunately it sounds like the seller isn't motivated. We had the same problem. In our case there was a divorce and it sounded like the parties weren't talking to each other.

Read your contract. You can probably get out of it based on the amount of time. Talk to the broker you worked with and let him/her know of your issues. Tell the broker you want out if you don't close by a certain date.

By the way, don't give up on resale...financially it is the best way to go!

wdrl · 10-09-2009, 11:20 AM

It sounds like you are having a lot of bad luck on your resale contract purchase. It shouldn't take that long, and it shouldn't have so many things go wrong. Of course, my saying that doesn't help your current situation. What resale company and title company are you working with?

We are in the process of buying an AKV 100-point resale contract through the Timeshare Store. Our closing is being handled by Brenda Smith at Magic Vacation Title. Just to put your situation in perspective, here is our timeline so far:

09/01/2009

02:45 PM - Called Scot at TSS and made offer on 100-point AKV at $84/point

03:26 PM - Scot called and said offer accepted

04:57 PM - Received TSS email with contract offer to sign

07:01 PM - Faxed copies of contract offer to TSS

09/02/2009

09:45 AM - Mailed signed forms and escrow payment deposit to TSS

09/03/2009

02:23 PM - Contract sent to Disney for ROFR

09/04/2009

07:54 AM - Received Escrow Form from MVT

08:31 AM - Faxed Escrow Form to MVT

11:24 AM - Escrow payment deposit received by TSS

10/02/2009

12:41 PM - Disney Waived ROFR

10/06/2009

12:10 PM - Received Closing Documents from Magic Title

02:30 PM - Mailed Final Payment and Documents via Priority Mail

10/08/2009

10:50 AM - Magic Title confirmed receipt of Payment & Documents

Its been 39 days since we started the process, and now we are awaiting the seller to send their closing documents to the title company. Our closing is scheduled for 10/27/09, but Scot at TSS said we might get it done sooner if the seller sends in their documents sooner. Since the seller is wanting to get paid, I know they are motivated for a quick sell.

Good luck on your closing and I hope you'll be enjoying Disney really soon!

disneynutz · 10-09-2009, 03:06 PM

Buying resale will usually take 45 to 60 days if everyone does their job. Unfortunately we are dealing with people so anything can happen.

MissScarlet · 10-14-2009, 10:00 PM

We just found out that we closed today!

TLSnell1981 · 10-14-2009, 10:37 PM

Quote:

Originally Posted by MissScarlet

We just found out that we closed today!

tlbryant383 · 10-18-2009, 03:56 PM

I just closed a resale DVC membership - here was my timeline:

8/25 contacted Garden View Realty (Jaki) with DVC offer
8/26 offer accepted
8/27 received closing docs
9/22 Disney declined ROFR
10/1 received final docs
10/15 notification that transfer was completed

rmonty02 · 10-21-2009, 01:48 PM

Quote:

Originally Posted by MissScarlet

We just found out that we closed today!

CONGRATS &

WELCOME HOME!

whitfamily · 10-23-2009, 02:18 PM

After a long and frustrating process I am sure you are now breathing a sigh of relief that you don't have to start all over again! Now the excitement begins!! Have a wonderful time in Feb. and May!!

lodge · 01-21-2013, 06:46 PM

Quote:

Originally Posted by wdrl

09/01/2009
02:45 PM - Called Scot at TSS and made offer on 100-point AKV at $84/point
03:26 PM - Scot called and said offer accepted
04:57 PM - Received TSS email with contract offer to sign
07:01 PM - Faxed copies of contract offer to TSS
09/02/2009
09:45 AM - Mailed signed forms and escrow payment deposit to TSS
09/03/2009
02:23 PM - Contract sent to Disney for ROFR
09/04/2009
07:54 AM - Received Escrow Form from MVT
08:31 AM - Faxed Escrow Form to MVT
11:24 AM - Escrow payment deposit received by TSS
10/02/2009
12:41 PM - Disney Waived ROFR
10/06/2009
12:10 PM - Received Closing Documents from Magic Title
02:30 PM - Mailed Final Payment and Documents via Priority Mail
10/08/2009
10:50 AM - Magic Title confirmed receipt of Payment & Documents
Its been 39 days since we started the process, and now we are awaiting the seller to send their closing documents to the title company. Our closing is scheduled for 10/27/09, but Scot at TSS said we might get it done sooner if the seller sends in their documents sooner. Since the seller is wanting to get paid, I know they are motivated for a quick sell.

Wow! You know the TIMES of each occurance!! I'm lucky if I remember the DAY of the week, let alone the DATE (forget me knowing what time of day it is... I go by "Is the sun up or is it down"!)

Quote:

Originally Posted by rmonty02

CONGRATS &

WELCOME HOME!

If I could bottle up and sell the feeling I get whenever I read that phrase, I'd be RICH!!!!

tiffrobyn · 01-22-2013, 10:36 AM

This is timely, as I just came here to share the timeline on my most recent contract!

We bought 100 SSR points through Fidelity.

11/28 Offer accepted
11/29 Received documents
11/30 Returned Documents
12/3 Sent to ROFR
12/27 Passed ROFR
1/9 Rec'd closing documents
1/14 Title company received my documents & payment
1/16 Contract officially closed
1/18 Closing documents available to view on Orange County Comptroller site
1/21 Contract & Points in DVC system

mommyarewegoingback · 01-22-2013, 11:16 AM

Quote:

Originally Posted by tiffrobyn

This is timely, as I just came here to share the timeline on my most recent contract!

We bought 100 SSR points through Fidelity.

11/28 Offer accepted
11/29 Received documents
11/30 Returned Documents
12/3 Sent to ROFR
12/27 Passed ROFR
1/9 Rec'd closing documents
1/14 Title company received my documents & payment
1/16 Contract officially closed
1/18 Closing documents available to view on Orange County Comptroller site
1/21 Contract & Points in DVC system

I'm really close to your timeline.... I view my closing docs on OCC on 1/17. After I saw you post I called Member Administration, but Amber told me the standard, wait until you get the paperwork. How did you find out about the Points? Did you already have an existing contract?
-Virginia

tiffrobyn · 01-22-2013, 12:34 PM

Quote:

Originally Posted by mommyarewegoingback

I'm really close to your timeline.... I view my closing docs on OCC on 1/17. After I saw you post I called Member Administration, but Amber told me the standard, wait until you get the paperwork. How did you find out about the Points? Did you already have an existing contract?
-Virginia

Yes, I have an existing contract. The new contract info showed up on the website yesterday.

10-09-2009, 10:47 AM	#1
MissScarlet Mouseketeer Join Date: Sep 2001 Posts: 106	Resale Timeline...Updated We are still in the resale buying process, but wanted to post our timeline, as it seems to be taking a long time. We really wanted a small contract, but now I am wishing we would have bought from Disney. The contract comes with 2008 points which we will need to use asap. 7/31 Offered the asking price minutes after receiving resale listing email. Received contract later that night. 8/1 Had to call to get corrected contract as there were typos. Sent out contract and deposit check Fed-Ex priority overnight the same day. 8/4 Received email that contract and deposit had been received. 8/8 Received email that contract has been sent to Disney for ROFR. 8/18 Received email with closing agents info. 9/1 Received email that Disney waived ROFR. 9/17 Still had not received closing docs, sent email to closing agent. 9/18 Received email…Disney was waiting for a document from the seller before they would release estopple. Seller does not remember receiving this document. 9/24 Received our closing documents by email. Sent them out fed-ex priority overnight with payment the same day. 9/25 Closing company received our closing docs and payment. (9/25 should have been our closing date according to the contract…) 9/28 Was notified that closing company lost our documents. Faxed in copy of closing documents. Notified that we are “priority closing”. 10/8 Still had not heard anything regarding closing, called agent. 10/9 Notified that seller still has not signed papers. Seller does not remember receiving closing documents. Notified that we are “priority closing”. __________________ Disneyland...too many times to count! WDW 1995, 2000, 2001, 2001, 2009, 2010 DVC Member Last edited by MissScarlet; 10-21-2009 at 01:39 PM.

10-09-2009, 03:06 PM	#4
disneynutz Earning My Ears One At A Time Join Date: Dec 2006 Location: North Texas Posts: 14,486	Buying resale will usually take 45 to 60 days if everyone does their job. Unfortunately we are dealing with people so anything can happen. __________________

10-14-2009, 10:00 PM	#5
MissScarlet Mouseketeer Join Date: Sep 2001 Posts: 106	We just found out that we closed today! __________________ Disneyland...too many times to count! WDW 1995, 2000, 2001, 2001, 2009, 2010 DVC Member

10-18-2009, 03:56 PM	#7
tlbryant383 Earning My Ears Join Date: Jul 2009 Location: Lewisville, TX Posts: 17	My closing timeline I just closed a resale DVC membership - here was my timeline: 8/25 contacted Garden View Realty (Jaki) with DVC offer 8/26 offer accepted 8/27 received closing docs 9/22 Disney declined ROFR 10/1 received final docs 10/15 notification that transfer was completed

10-09-2009, 11:19 AM	#2
backyardponder DIS Veteran Join Date: Feb 2008 Location: Naperville, Illinois Posts: 1,489	Unfortunately it sounds like the seller isn't motivated. We had the same problem. In our case there was a divorce and it sounded like the parties weren't talking to each other. Read your contract. You can probably get out of it based on the amount of time. Talk to the broker you worked with and let him/her know of your issues. Tell the broker you want out if you don't close by a certain date. By the way, don't give up on resale...financially it is the best way to go!

10-23-2009, 02:18 PM	#9
whitfamily Mouseketeer Join Date: Apr 2009 Location: Northern Virginia Posts: 287	After a long and frustrating process I am sure you are now breathing a sigh of relief that you don't have to start all over again! Now the excitement begins!! Have a wonderful time in Feb. and May!! __________________ DVC Member at AKV and SSR. Twitter: @RobOnDisney http://www.disneyfamilyman.com http://www.facebook.com/rwhitneyjr Trips: 2006- CBR for Honeymoon 2007- Disneyland 2008- Yacht Club 2009- Pop(Jan), AKV/BWV(May), POR/AKV(Oct), Disneyland (Dec) 2010- BWV/VWL(Jan), AKV(Aug), ASSp(Oct), ASSM(Dec) 2011- Planned Disneyland (Aug), ASSp(Epic October), POFQ/AKV/DCL (Oct Wedding) 2012- Planned BCV (Jan)

01-22-2013, 10:36 AM	#11
tiffrobyn Just keep swimming. Just keep swimming. Just keep swimming swimming swimming swimming. Join Date: Aug 2011 Location: Long Island, NY Posts: 108	This is timely, as I just came here to share the timeline on my most recent contract! We bought 100 SSR points through Fidelity. 11/28 Offer accepted 11/29 Received documents 11/30 Returned Documents 12/3 Sent to ROFR 12/27 Passed ROFR 1/9 Rec'd closing documents 1/14 Title company received my documents & payment 1/16 Contract officially closed 1/18 Closing documents available to view on Orange County Comptroller site 1/21 Contract & Points in DVC system __________________

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