Closing Time!!

[Carrie932]

It was in my contract that I signed after my offer was accepted, not in my closing documents. Hopefully yours has it as well!

We don’t see it in our contract but we just sent an email as well...fingers crossed for us both!

 

[Cupcake232]

We don’t see it in our contract but we just sent an email as well...fingers crossed for us both!

I wish I had asked when the estoppel was received, however, hindsight is always 20/20. Fingers crossed!!!

 

[Cupcake232]

Some title companies are holding back funds until points are verified. The contract I bought this summer did that and the seller couldn’t get their funds until I verified it.

So, the title company I think would be responsible for making sure that you get your money.

Thank you! That does help me feel a little better. I hope Mason Title did just that!

 

[Stargazer65]

Some title companies are holding back funds until points are verified. The contract I bought this summer did that and the seller couldn’t get their funds until I verified it.

So, the title company I think would be responsible for making sure that you get your money.

So this interesting, three of us got stiffed on points all about the same time. Is this common?

I contacted both, however, haven’t heard back yet. I emailed. Tomorrow I will make a call or two if I don’t hear back from them.

Where did you find the clause about compensation? We used fidelity and Mason title and are having a hard time finding it in our paperwork?

I sent my email to both my sales rep and Mason this morning, I'll report on what happens next.

 

[Carrie932]

So this interesting, three of us got stiffed on points all about the same time. Is this common?


I sent my email to both my sales rep and Mason this morning, I'll report on what happens next.

I didn’t think it was common but who knows!

I wouldn’t necessarily say we got stiffed but definitely did not get what we were told...we were told we’d get 4-banked 2019 points and 38-2020 points and the regular 50 points from 2021 on...what we got was 8-2020 points and we show 84 points for 2021 so someone already banked the points and they were incorrect on having 2019 banked points.

We are planning a quick May trip in 2021 and now we can only borrow 25 to go, which along with the 8 we have leaves us short for what we really wanted to do...not the end of the world but certainly irritating and worth reaching out to the broker/title company!

 

[Cupcake232]

So this interesting, three of us got stiffed on points all about the same time. Is this common?


I sent my email to both my sales rep and Mason this morning, I'll report on what happens next.

Yes! 90 points on mine isn’t small. I just don’t know how far you take it if the title company doesn’t help. Here’s hoping we all hear something today.

 

[Stargazer65]

Home: BRV
Broker: https://dvcsales.com/
Title Company: MTC
Offer made: 9/24/2020
Offer accepted: 9/24/2020
Sent to ROFR: 9/25/2020
Passed ROFR: 10/29/2020
Closing docs received:11/10/2020
Closing docs returned: 11/12/2020
Seller returned closing docs: UNK
Closing: 11/19/2020
Deed recorded: 11/19/2020
Contract Showing on Membership: 12/2/20
Points in account: 12/7/20

Done, with a caveat. It looks like my points are not what the contract said it would be for 2020. The contract said 100 points for 2020 (100 bankable) which is full points for 2020 and beyond. Instead I only received 93 for 2020 (43 banked from 2019, 50 for 2020). I'm less upset about the missing 7 points than I am about the fact that only half the points were bankable.

Update to my situation: I was contacted multiple times now by the broker. They were mortified by what happened. They and the seller were very apologetic and worked to make good. Apparently the seller had multiple contracts at BRV and was confused what points were what. The seller directly compensated me with cash via PayPal, which the broker helped facilitate. The broker also offered me a weekend at Vero Beach at my leisure. So consider me a happy customer, even with the mishap. I would gladly do business with all of them again.

 

[Raemama]

I would gladly do business with all of them again.

Thank you for coming back and updating us. So glad they’re working to make it all right.

 

[LucieR]

Home: Saratoga Springs Resort (SSR)
Broker: www.DVCstore.com
Title Company: Mason
Offer made: 9/19/2020
Offer accepted: 9/19/2020
Sent to ROFR: 9/24/2020 (5 days)
Passed ROFR: 10/30/2020 (36 days)
Closing docs received: 11/12/2020
Closing docs returned: 11/12/2020 (12 days)
Seller returned closing docs: ???
Closing: 11/16/2020
Deed recorded: 11/18/2020 (6 days)
Contract Showing on Membership: 12/01/2020 (13 days)
Points in account: 12/08/2020 (7 days)

That’s it! Done! I confess, I called about the points when I realised the 2 bedrooms were selling out for the dates we wanted and things became urgent. The Lady at MS was lovely!

75 days total. X

 

[macman123]

Home: SSR
Broker: www.dvcresalemarket.com
Title Company: Magic Title
Offer made: 08/15/2020
Offer accepted: 08/15/2020
Sent to ROFR: 08/16/2020
Passed ROFR: 09/17/2020
Closing docs received: 09/25
Closing docs returned (and funds paid): 10/08
Seller returned closing docs: 11/02
Closing: 11/03
Deed recorded: 11/04
Contract Showing on Membership: 11/18
Points in account: 12/07

 

[Cupcake232]

Update to my situation: I was contacted multiple times now by the broker. They were mortified by what happened. They and the seller were very apologetic and worked to make good. Apparently the seller had multiple contracts at BRV and was confused what points were what. The seller directly compensated me with cash via PayPal, which the broker helped facilitate. The broker also offered me a weekend at Vero Beach at my leisure. So consider me a happy customer, even with the mishap. I would gladly do business with all of them again.

Good for you! I’m still waiting to hear back from my broker and or the title company. I’m getting a little frustrated with the lack of communication. I’ve emailed and called with no response...

 

[zummi525]

So hopefully this isnt a strange question this is our first purchase
we got our closing documents yesterday and at the top of one of the papers it says closing date 1/25/2021. Does that mean we dont get our papers until then?

I know its not that long to go honestly BUT we are so excited so we want to get them ASAP to start playing around in the site


Thanks so much for all the things i have learned on the boards!

 

[Carrie932]

So hopefully this isnt a strange question this is our first purchase
we got our closing documents yesterday and at the top of one of the papers it says closing date 1/25/2021. Does that mean we dont get our papers until then?

I know its not that long to go honestly BUT we are so excited so we want to get them ASAP to start playing around in the site


Thanks so much for all the things i have learned on the boards!

Nope! I asked similar, ours came about a month before the proposed closing date... I think they give a big buffer… It could take up until that day but most likely will happen before then!

 

[Stargazer65]

So hopefully this isnt a strange question this is our first purchase
we got our closing documents yesterday and at the top of one of the papers it says closing date 1/25/2021. Does that mean we dont get our papers until then?

I know its not that long to go honestly BUT we are so excited so we want to get them ASAP to start playing around in the site


Thanks so much for all the things i have learned on the boards!

Not necessarily, usually they close as soon as they have both party's documents and the money.

 

[zummi525]

thank you guys for your quick response!!!

 

[Stargazer65]

So hopefully this isnt a strange question this is our first purchase

What a strange question, nobody asks questions about closing times here in the closing times thread, you must be a weirdo!

 

[DonnerB]

Home: CCV
Broker: www.*******.com
Title Company: TRCS, Inc.
Offer made: 10/22/2020
Offer accepted: 10/23//2020
Sent to ROFR: 10/25/2020
Passed ROFR: 11/11/2020
Closing docs received: 11/19/2020
Closing docs returned: 11/23/2020
Seller returned closing docs: ?
Closing: ? - I haven't heard from my broker yet; just noticed the deed recorded on the comptroller site today
Deed recorded: 11/30/2020
Contract Showing on Membership: ?
Points in account: ?

This is my second contract; broker told me to expect Disney to load points into my membership 10-14 days after the deed is recorded!

Got the email today (12/9/20) from Member Admin that the contract has been added to my membership!

 

[MouseFiend]

Home: SSR
Broker: www.dvcbyresale.com
Title Company: MTC
Offer made: 11/6/2020
Offer accepted: 11/6/2020
Sent to ROFR: 11/9/2020
Passed ROFR: 11/16/2020
Closing docs received:11/30/2020*
Closing docs returned: 12/6/2020
Seller returned closing docs: signed 11/25/20
Closing: 12/18/20
Deed recorded: 12/21/20
Membership Number Received:
Points in account:

*Closing docs originally received 11/25/20 but title company forgot loan documents. New packet received 11/30.

One step closer! Now the really painful wait begins...we’re so close!

 

[mattywisco]

Update! Account created - so there goes my afternoon -- so fun looking at availability currently..

Home: AKV
Broker: dvcsales.com
Title Company: Mason Title
Offer made: 10/3/20
Offer accepted: 10/4/20
Sent to ROFR: 10/5/20
Passed ROFR: 10/30/2020
Closing docs received:11/11/2020
Closing docs returned:11/12/2020
Sellers closing docs returned:12/1/2020
Closing:12/2/2020
Deed recorded:12/3/2020
Contract Showing on Membership: 12/9/2020
Points in account:

 

[Lorana]

Updated: Didn't receive word from title co or broker that this closed, but saw the deed recorded (for Hilton Head, look here: http://rodweb.bcgov.net/searchng/ ). I messaged them on 11/26, and I finally heard back from the Title Co on 12/2 that it had closed and they had sent over the title to Disney. I'm not sure if that means it closed on 12/2 or earlier. The broker never communicated back again, either, and I confess giving all the issues I've had on this contract, I'm glad it's almost done and behind me. Today, the contract appeared in my account, so now I'm just waiting for points to load!

Home: Hilton Head Island Resort (HHI)
Broker: www.*******.com
Title Company: Hayes Title
Offer made: 9/17/2020
Offer accepted: 9/18/2020
Sent to ROFR: 09/21/2020 (4 days)
Passed ROFR: 11/6/2020 (46 days)
Closing docs received: 11/10/2020 (4 days)
Closing docs returned: 11/10/2020 (0 days)
Seller returned closing docs: 11/20/2020 (10 days) -- seller didn't want to pay MFs despite it being in the contract, so there was back and forth before this was finally closed out.
Closing: ?? Title Co informed me on 12/2/2020 that this was closed out (12 days)
Deed recorded: 11/25/2020 (5 days from seller returning docs)
Contract Showing on Membership: 12/9/2020 (7 days)
Points in account:

TIME TOTAL: 83 days and counting...
offer to ROFR: 50 days
ROFR passing to Closing: 26 days
Closing to Points in Account: 7 days and counting...


******
Here is my experience so far, as I’ve done numerous mostly small contracts:

Closed Contracts (offer to points in account):

BRV Resale - 43 days - www.FidelityResales.com / Mason
AKL Resale #1 - 49 days - www.DVCbyResale.com / Mason
AKL Resale #2 - 40 days - www.DVCStore.com / Mason
AKL Resale #3 - 80 days - www.DVCResaleMarket.com / Magic Vacation Title (start of Covid, Feb-May)
CCV Resale #1 - 91 days - www.FidelityResales.com / Mason (Covid, end-May to end-August)
SSR Resale #1 - 120 days - www.*************.com / TRCS (Covid, May to September)
CCV Resale #2 - 86 days - www.*************.com / TRCS (Covid, July to October)
CCV Small Resale #3 - 87 days - www.FidelityResales.com / Mason (Covid, July to October)
SSR Small Resale #2 - 90 days - www.FidelityResales.com / Mason (Covid, September to December)

In progress:
HHI Small Resale - www.*******.com / Hayes Title - 83 days so far, waiting for account to appear (offer made 9/17, sent to ROFR 9/21, passed 11/6, closing docs received 11/10, seller issue resolved 11/20, deed recorded 11/25)
VGC Small Resale #1 & #2 - www.FidelityResales.com / First American - 80 total days so far, waiting for account to appear (offer made 9/20, sent to ROFR 9/25, passed ROFR 10/29, closing docs received 11/24, deed recorded 12/1, closed 12/2)