Closing Time!!

[hayesdvc]

Snoth

I have been told this morning that title company has received final payoff from Disney (took less than a day; see my estoppel wait time below) now only waiting on FIRTPA agent to send her final document.

Another week came and went with no closing. *** did not receive necessary information from the FIRTPA agent to send the final document. I thought I was "there" when *** received the closing documents from the seller however now waiting on this additional step to proceed. Not sure now how long now it will be. Too bad for me as I am still fighting the windmill (refer to avatar)

 

[hayesdvc]

Does any of my Canadian friends or buyers who have bought from a Canadian seller know how long it normally takes for the FIRTPA agent (?) to send the documents needed to the title company?

 

[marisabuzz]

Here's my FINAL official timeline:

Offer Sent 11/18
Offer Accepted 11/19
Sent for ROFR 11/20
Passed ROFR 12/4
Received Closing Docs 12/11
Sent Closing Docs and Payment 12/17
Closed 1/7
Deed Recorded 1/8
Closing Docs to Disney 1/21
Welcome Package 2/10
Member Number (by phone) 2/12
Member Number (by mail) 2/19
Activation Code (by email) 2/22

Total time from offer to mailed member number: 3 months, 1 day
Title company: Vacation World Title

 

[hayesdvc]

Here's my FINAL official timeline:

Offer Sent 11/18
Offer Accepted 11/19
Sent for ROFR 11/20
Passed ROFR 12/4
Received Closing Docs 12/11
Sent Closing Docs and Payment 12/17
Closed 1/7
Deed Recorded 1/8
Closing Docs to Disney 1/21
Welcome Package 2/10
Member Number (by phone) 2/12
Member Number (by mail) 2/19
Activation Code (by email) 2/22

Total time from offer to mailed member number: 3 months, 1 day
Title company: Vacation World Title

Do you understand the two week delay between the "Deed Recorded" step and "Closing Docs to Disney" step ?

 

[marisabuzz]

Do you understand the two week delay between the "Deed Recorded" step and "Closing Docs to Disney" step ?

No. It was water under the bridge when I found out so I didn't care to ask or press further.

 

[hayesdvc]

No. It was water under the bridge when I found out so I didn't care to ask or press further.

Congratulations !

I am still waiting to close. I have no idea how long I should expect to wait at the step I am on now.

 

[marisabuzz]

Congratulations !

I am still waiting to close. I have no idea how long I should expect to wait at the step I am on now.

These next few steps, IMHO, is the worst wait out of all the waits.

 

[hayesdvc]

These next few steps, IMHO, is the worst wait out of all the waits.

Was your seller foreign? If so how long did it take to go through the FIRTPA step ?

 

[marisabuzz]

Seller was American. There was no FIRTPA step AFAIK.

 

[hayesdvc]

*** received the FIRTPA information today and sent the deed/package to OCC to be recorded

 

[Meandnevaeh]

I'm purchasing

I guess everyone has a different perspective. I think that objectively speaking, the US and Canadian postal services are relatively similar where delivery times are concerned. Where the US postal service "wins" is on cost, particularly for small parcels. That's a direct result of volume. In Canada we are used to paying higher prices for nearly everything on the basis of lower overall volume!

I think there just is some sensitivity right now around the recent "CANADIAN SELLER" business at The Timeshare Store. It's not that I feel that buyers don't have a right to know, but I think many potential future Canadian sellers are concerned that highlighting it in this way makes it look like there is some sort of "black mark" against our contracts, and unnecessarily draws attention to something that really is not significant most of the time. There are probably many buyers out there who wouldn't care one iota about where the seller is located, except that once it is pointed out in this way, it makes them wonder if there's a reason they *should* care. It's like putting a flag on the listing that says "unless you really must have this particular contract, go bid on something else instead". That could impact us in a very material way, all for the sake of maybe a couple of extra days on a 4 month process.

I wasn't trying to stir up trouble; I only wanted to point out the reasons why having a "Canadian seller" really doesn't make much difference, both for your sake and for anyone else who might be reading.



Best wishes for a speedy closing!

asing from the timeshare store, and from an international seller, not Canadian seller, however I honestly did think it to be any type of begative connotation. And after I made my offer I was told once again that it was a foreign seller and that they were required to tell me up front and that there would just be one more piece if paperwork required to complete the sale, so far so happy. The foreign seller did not scare me away

 

[Meandnevaeh]

I meant to say I did not think it to have a negative connotation.

 

[gharter]

These next few steps, IMHO, is the worst wait out of all the waits.

I don't know if its the worst wait, but I know We are getting more anxious as we get closer to the end.

 

[hayesdvc]

*** received the FIRTPA information today and sent the deed/package to OCC to be recorded

Recorded at OCC today ........................ the real/final wait begins

 

[crazyventures]

Looks like I'll be stalking this thread now that I'm done with ROFR. Our contract closing date is 4/1 so I hope I receive estoppel/my closing documents in the next few weeks. Thank you for posting your timelines, everyone!

 

[CaliAdventurer]

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

You recorded about 10 days before me; have you received your member # by chance? I just called since its been a month, less a few days and nothing in the system : (

 

[CaliAdventurer]

9/30 OFFER ACCEPTED
10/6 CONTRACT EXECUTED BOTH PARTIES
11/6 PASSED ROFR
12/8 RECEIVED CLOSING DOCUMENTS
2/21 RETURNED CLOSING DOCUMENTS AND PAYMENT (Japanese Seller we were told at least 3 weeks for their papers to be returned)
1/26 DEED RECORDED (I called Escrow on 1/28 and was told it recorded 2 days prior)
2/2 FIDELITY EMAILED THAT FILE RECORDED

2/23 Called Member Services and still no record

Hoping to have member number by the 5 month mark to book a Xmas trip at home resort. Ugh.

 

[marisabuzz]

9/30 OFFER ACCEPTED
10/6 CONTRACT EXECUTED BOTH PARTIES
11/6 PASSED ROFR
12/8 RECEIVED CLOSING DOCUMENTS
2/21 RETURNED CLOSING DOCUMENTS AND PAYMENT (Japanese Seller we were told at least 3 weeks for their papers to be returned)
1/26 DEED RECORDED (I called Escrow on 1/28 and was told it recorded 2 days prior)
2/2 FIDELITY EMAILED THAT FILE RECORDED

2/23 Called Member Services and still no record

Hoping to have member number by the 5 month mark to book a Xmas trip at home resort. Ugh.

I say keep trying. One of the mistakes I think I made was that I was using the sellers contract number instead of asking if I was in the system yet. The sellers were still in the system because they have other contracts. I found the people in accounting to either be very willing or unwilling to help...depends on who you get. Member admin helped clarify what was happening with the contract. Hth.

 

[marisabuzz]

Recorded at OCC today ........................ the real/final wait begins

Congrats. You closed earlier than planned. Now is the worst wait because you're so close yet so far.

 

[hayesdvc]

Congrats. You closed earlier than planned. Now is the worst wait because you're so close yet so far.

Thanks ................. What is realistic to begin calling accounting to attempt to obtain the membership number ?