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Old 08-05-2014, 01:34 PM   #1
r5moores
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Question about contract/Estoppel

Hi all,

Question, Is there a way to find out the date that the estoppel info was provided to the title company from Disney? I'm assuming that's who it goes to first and not the actual broker?

My contract states this contract shall be closed on or before 8/7/14 or within 30 day from when the estoppel information is provided by Disney to the closing company.

Buyers haven't returned the closing docs yet. I got on the Title company two weeks after we passed ROFR to find out if they received anything and I got 'Oh I was just working on that all weekend (yeah right, sure ya were), needed to get more info from DVC but they are closed on the weekend so I'm going to call first thing this morning and get your closing docs to you by this afternoon. Needless to say, never got them until late the next afternoon and that was with me contacting them again. No idea how long they may have had the info, or how long they may have waited to send my docs if I hadn't reached out to ask about it.

So, anyway of me finding out the date they actually received it other then through them? I'm really not trusting them at this point and wouldn't trust they would give me the correct info anyway.

I'm trying to find out when that 30 day window clause runs out after the 8/7/14 because no way we are closing on the 7th.

Thanks
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Old 08-05-2014, 01:43 PM   #2
Msmithmd
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Nope, only the title agency would have that info.

As you aren't yet a member, DVC won't talk to you about anything pertaining to a resale on the phone whatsoever.

Hope you close soon!
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Old 08-05-2014, 02:11 PM   #3
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You'll close within 24-48 hours after the sellers return their paperwork, so the 7th is still possible. The estoppel should be delivered about two weeks after clearing ROFR.
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Old 08-05-2014, 02:37 PM   #4
r5moores
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Thanks for the replies.
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CBR - 1993, ASMu - 1996, PORFQ - 1998,
ASMo - 2001, ASMo - 2003,
PORFQ - 2004, PC/CBR - 2005, CBR/WL - 2006
PORFQ/WL 2007, ASSp/PORS/POFQ 2008, CSR/PORS 2009, OKW/POFQ/CSR 2010, AKL/OKW 2011, CBR/AKL 2012, AKL 2013, SSR/OKW 2014
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Old 08-05-2014, 04:05 PM   #5
disneynutz


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Quote:
Originally Posted by r5moores View Post
Hi all,

Question, Is there a way to find out the date that the estoppel info was provided to the title company from Disney? I'm assuming that's who it goes to first and not the actual broker?

My contract states this contract shall be closed on or before 8/7/14 or within 30 day from when the estoppel information is provided by Disney to the closing company.

Buyers haven't returned the closing docs yet. I got on the Title company two weeks after we passed ROFR to find out if they received anything and I got 'Oh I was just working on that all weekend (yeah right, sure ya were), needed to get more info from DVC but they are closed on the weekend so I'm going to call first thing this morning and get your closing docs to you by this afternoon. Needless to say, never got them until late the next afternoon and that was with me contacting them again. No idea how long they may have had the info, or how long they may have waited to send my docs if I hadn't reached out to ask about it.

So, anyway of me finding out the date they actually received it other then through them? I'm really not trusting them at this point and wouldn't trust they would give me the correct info anyway.

I'm trying to find out when that 30 day window clause runs out after the 8/7/14 because no way we are closing on the 7th.

Thanks
Delayed closings can happen more than you think. Unless you are trying to get out of the contract, I would just bug the broker for updates.

Bill
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Old 08-07-2014, 05:35 PM   #6
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Contract performance

Closing can happen pretty quick -- I closed yesterday after scanning my documents in during the morning. Of course paying by wire transfer at noon accelerated that.

If you don't close on time due to the buyer, all you can do is sue for specific performance and potentially seize the deposit if they don't defend. Or terminate the contract and start over. At any point in the legal process all the buyer needs to do is show up ready to close and they keep their deposit.

If you don't close on time due to the seller, you have almost no recourse other than suing for specific performance.

Of course suing over a timeshare is ridiculous. Go back to the website and buy the next one. And wait six more weeks.

Any time you buy real estate the person on the other side of the transaction can make your life miserable.
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Old 08-07-2014, 10:43 PM   #7
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Originally Posted by Bangback View Post
Closing can happen pretty quick -- I closed yesterday after scanning my documents in during the morning. Of course paying by wire transfer at noon accelerated that. If you don't close on time due to the buyer, all you can do is sue for specific performance and potentially seize the deposit if they don't defend. Or terminate the contract and start over. At any point in the legal process all the buyer needs to do is show up ready to close and they keep their deposit. If you don't close on time due to the seller, you have almost no recourse other than suing for specific performance. Of course suing over a timeshare is ridiculous. Go back to the website and buy the next one. And wait six more weeks. Any time you buy real estate the person on the other side of the transaction can make your life miserable.
Generally, you can't sue for specific performance I. A real estate transaction.
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