Resale timeline - a little longer than expected...

[permavac]

I saw a couple of posts highlighting resale timelines that seemed pretty straight forward so I figured I would post mine since it took a little longer. My first resale contract only took 2 months from start to finish. This new one:

3/23/12 - Verbal agreement to buy 50 BWV points
3/27 - Received contracts via e-mail
3/29 - Signed contracts received by broker from Buyer (me). Found out that
the Sellers don't have e-mail so their contracts were sent snail mail.
4/5 - Sent to DVC for ROFR
5/2 - Received word that ROFR was waived (27th day after submission)
5/4 - Deposit charged by title company
5/9 - Received closing documents via e-mail
5/14 - Signed documents received by title company from Buyer (me). Sellers
getting their documents via snail mail so expecting a wait.
5/24 - Signed documents received by title company from Sellers (ten day
turn around from estimated receipt - ugh!)
5/30 - Finally closed
6/4 - DVC receives all paperwork in relation to resale
6/11 - Transfer complete and new membership number assigned and both
memberships automatically showing up on my DVC log-in (6 days from
receipt of paperwork - not bad)
6/12 - Points added to account and able to reserve rooms (1 day after
account creation - not bad)

All told, 11 weeks 4 days which is really pushing 3 months. Nearly a month longer than expected but I still think it was worth the wait for the amount that I saved. I just wanted to warn people since I have previously offered advice to others that resale typically takes 6 to 8 weeks. I think I will up that to 8 to 12 weeks.

Terri

 

[ELMC]

I just wanted to warn people since I have previously offered advice to others that resale typically takes 6 to 8 weeks. I think I will up that to 8 to 12 weeks.

Terri

Congrats on finally closing on your contract! I agree with what you say above. I think that the 6 week time frame is a thing of the past now that Disney seems to be taking close to the full 30 days for ROFR. So that makes 8 weeks the new minimum, and that is if everything happens immediately at ever step of the way. Any delay will quickly bring your time line closer to the 12 week mark for sure. I think the safe assumption when you go to buy resale is 10 weeks from offer acceptance to reservations. The key is all in how you handle the wait.

 

[Missyrose]

I saw a couple of posts highlighting resale timelines that seemed pretty straight forward so I figured I would post mine since it took a little longer. My first resale contract only took 2 months from start to finish. This new one:

3/23/12 - Verbal agreement to buy 50 BWV points
3/27 - Received contracts via e-mail
3/29 - Signed contracts received by broker from Buyer (me). Found out that
the Sellers don't have e-mail so their contracts were sent snail mail.
4/5 - Sent to DVC for ROFR
5/2 - Received word that ROFR was waived (27th day after submission)
5/4 - Deposit charged by title company
5/9 - Received closing documents via e-mail
5/14 - Signed documents received by title company from Buyer (me). Sellers
getting their documents via snail mail so expecting a wait.
5/24 - Signed documents received by title company from Sellers (ten day
turn around from estimated receipt - ugh!)
5/30 - Finally closed
6/4 - DVC receives all paperwork in relation to resale
6/11 - Transfer complete and new membership number assigned and both
memberships automatically showing up on my DVC log-in (6 days from
receipt of paperwork - not bad)
6/12 - Points added to account and able to reserve rooms (1 day after
account creation - not bad)

All told, 11 weeks 4 days which is really pushing 3 months. Nearly a month longer than expected but I still think it was worth the wait for the amount that I saved. I just wanted to warn people since I have previously offered advice to others that resale typically takes 6 to 8 weeks. I think I will up that to 8 to 12 weeks.

Terri

Congrats on finally closing on your contract! I agree with what you say above. I think that the 6 week time frame is a thing of the past now that Disney seems to be taking close to the full 30 days for ROFR. So that makes 8 weeks the new minimum, and that is if everything happens immediately at ever step of the way. Any delay will quickly bring your time line closer to the 12 week mark for sure. I think the safe assumption when you go to buy resale is 10 weeks from offer acceptance to reservations. The key is all in how you handle the wait.

I will second the idea of putting forth more realistic time frames. My transaction took 11 weeks from agreement on price to points loaded/first reservation made. I wasn't in any hurry, but by going by the two-month estimate, I kept feeling my transaction was behind in some way.

 

[permavac]

Thanks ELMC and yes to both you and MR - looks like expectations need to be reset on resales... I was lucky - we didn't decide to book a last minute trip in July until a couple of weeks ago so I only had two weeks to be antsy about availability

Terri

 

[Frederic Civish]

That was then. What is the average current time frame - from offer - to points in the account? Nowadays?

How long is each step taking AFTER closing?

I also have heard from broker agents that, “It will take 2 months to complete the deal.” But I don’t think they are factoring in the time AFTER CLOSING, before you can use your new points.

 

[hlhlaw07]

That was then. What is the average current time frame - from offer - to points in the account? Nowadays?

How long is each step taking AFTER closing?

I also have heard from broker agents that, “It will take 2 months to complete the deal.” But I don’t think they are factoring in the time AFTER CLOSING, before you can use your new points.

If you want those answers it’s best not to revive an extremely old thread. Instead look at the current threads “closing time” and “come on estoppel” as they will give you a good sense of the current timeline all the way through the process.

 

[kniquy]

I think 3 months is pretty standard - I purchased in 2015 - I recall making my offer in the beginning of September, then the deed was recorded towards the end of November and had my member number by mid December. It is sometimes the ROFR that can take time -- well pretty much every step take a long time as there are so many variables -- the speed of your resale company, the sellers with responding or sending back paperwork, waiting on DVD to make a decision, recording and finally getting the member number. The only step for me that went quickly was the offer -- we had an answer within a couple of hours.

 

[disneyeveryyear]

Here is my recent purchase: I was already a member, so I didn't have to wait for MS to create an account for me.

Home: SSR
Title Company: Jeffrey Sweet
Offer made: 4/25
Offer accepted: 4/25
Sent to ROFR: 4/27
Passed ROFR: 5/23
Closing docs received: 6/6/18
Closing docs returned: 6/7/18
Confirmation of doc received: 6/11/18
Seller returned closing docs: ?
Closing: 6/15/18
Deed recorded: 6/15/18
Contract showing on my online account: 6/24/18
Points in my account: 6/26/18 (late)