Closing Time!!

[JavaDuck]

Update #2

home: VGC
Broker: www.dvcresalemarket.com
Title Company: American Title
Offer made: 9/22/20
Offer accepted: 9/22/20
Sent to ROFR: 9/30/20
Passed ROFR: 11/9/20
Estoppel Received: 11/25/20
Closing docs received: 12/2/20
Closing docs returned: 12/2/20
Sellers closing docs returned: 12/16/20
Closing: 12/21/20
Deed recorded: 12/21/20
Contract Showing on Membership: 1/3/21
Points in account:

 

[ddubaynavarro]

Home: OKW
Broker: www.dvcstore.com
Title Company: Mason Title
Offer Made: 11/3/2020
Offer Accepted: 11/3/2020
Sent to ROFR: 11/5/2020
Passed ROFR: 11/12/2020
Closing Docs received: 12/8/2020
Closing Docs returned: 12/10/2020
Seller Closing Docs Returned:
Closed:
Deed Recorded:
New Membership account:
Points in account:

So happy to finally be on the closing thread! Woohoo!

Update: Seller STILL has not returned closing documents. I am getting really discouraged.

 

[ValW]

Update #2 - 50 pt contract

Home: BWV
Broker: www.*******.com
Title Company: TRCS, Inc
Offer made: 11/20/2020
Offer accepted: 11/21/2020
Sent to ROFR: 11/25/2020
Passed ROFR: 12/8/2020
Closing docs received: 12/20/2020
Closing docs returned: 12/20/2020
Seller returned closing docs: 12/23/2020
Closing: 12/28/2020
Deed recorded: 12/31/2020
Contract Showing on Membership:
Points in account:

45 days and counting....

 

[kelsey2020]

Home: OKW(E)
Broker: www.dvcresalemarket.com
Title Company: Magic Vacation Title
Offer Made: 12/14/2020
Offer Accepted: 12/14/2020
Sent to ROFR: 12/16/2020
Passed ROFR: 1/13/2021
Closing Docs received:
Closing Docs returned:
Seller Closing Docs Returned:
Closed:
Deed Recorded:
New Membership account:
Points in account:

 

[HappyThoughtsTees]

We passed ROFR and got our Escrow letter! One step closer!

Home: OKW
Broker: www.dvcresalemarket.com
Title Company: Magic Vacation Title
Offer Made: 12/14/2020
Offer Accepted: 12/14/2020
Sent to ROFR: 12/16/2020
Passed ROFR: 1/5/2021
Closing Docs received:
Closing Docs returned:
Seller Closing Docs Returned:
Closed:
Deed Recorded:
New Membership account:
Points in account:

Finally some news out of ROFR! We submitted 12/17 and my anxiety is kicking in!! Thanks for updating

 

[kelsey2020]

Finally some news out of ROFR! We submitted 12/17 and my anxiety is kicking in!! Thanks for updating ☺

Good luck!!!

 

[lovin'fl]

Lovin'fl(seller)---$150-$4371-25-BWV-Aug-0/20, 40/21, 25/22- sent 11/25, passed 12/8

Lovin'fl(seller)---$150-$4454-25-BWV-Aug-0/20, 31/21, 25/22- sent 11/25, passed 12/8

I am seller of two 25 point BWV contracts to two different buyers.

Listed: 11/23 and offers were immediate
Sent to ROFR: 11/25
Passed ROFR: 12/8
Closing docs received: 12/15 for one and 12/18 for the other (2 different closing offices)
Seller docs sent back: 12/22
buyer docs sent back: ?
closing: the 12/18 one (Jeffrey Sweet closing) closed 1/6. Awaiting the other (Mason Title).
proceeds received:

 

[MouseFiend]

Membership Number received! I was so happy just to log into the website. One more step!

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: 1/5/21
Points in account:

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

 

[UrsulaWantsYourSoul]

Membership Number received! I was so happy just to log into the website. One more step!

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: 1/5/21
Points in account:

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

Woo Hoo! Welcome Home! And you were married AT Grand Cal? How cool!

 

[MouseFiend]

Woo Hoo! Welcome Home! And you were married AT Grand Cal? How cool!

Yes, DVC was my 10 year anniversary gift to myself! The ceremony was on the Parkview Terrace and reception in the Brisa Courtyard with the monorail running overhead. It was amazing!

 

[CCV]

Home: VGF
Broker: www.**********.com
Title Company: Jeffrey C. Sweet
Offer made: 11/18/2020
Offer accepted: 11/18/2020
Sent to ROFR: 11/20/2020
Passed ROFR: 11/26/2020 (6 days)
Closing docs received: 12/16/2020
Closing docs returned: 12/16/2020
Seller returned closing docs: ???
Closing: 1/6/2021
Deed recorded: 1/6/2021
Contract Showing on Membership: 1/20/21
Points in account: 1/21/21

TIME TOTAL: 64 days
Time to clear ROFR: 6 days
ROFR passing to Closing: 41 days
Closing to Points in Account: 15 days

 

[MouseFiend]

Membership Number received! I was so happy just to log into the website. One more step!

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: 1/5/21
Points in account:

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

I called MS to see if they could load my points. The advisor called her support team and they loaded the points except 100 points that were supposed to be transferred in aren’t there. The advisor mentioned she didn’t know if transferred points could be sold; any owners here happen to know?

I’m going to call back tomorrow to hopefully get this resolved. Otherwise, there is a clause in my contract that the seller owes $20 for each missing point.

 

[UrsulaWantsYourSoul]

I called MS to see if they could load my points. The advisor called her support team and they loaded the points except 100 points that were supposed to be transferred in aren’t there. The advisor mentioned she didn’t know if transferred points could be sold; any owners here happen to know?

I’m going to call back tomorrow to hopefully get this resolved. Otherwise, there is a clause in my contract that the seller owes $20 for each missing point.

Let us know how it turns out. Our first resale got added to our contract two days before yours so... I guess it's safe to call MS too haha. Hopefully the 2020 points we are expecting are there though... I wouldn't turn down the cash if they aren't .

 

[Sandisw]

I called MS to see if they could load my points. The advisor called her support team and they loaded the points except 100 points that were supposed to be transferred in aren’t there. The advisor mentioned she didn’t know if transferred points could be sold; any owners here happen to know?

I’m going to call back tomorrow to hopefully get this resolved. Otherwise, there is a clause in my contract that the seller owes $20 for each missing point.

I am going to say no, they can not be sold, Transferred points go into a membership and when that membership no longer exists, it would seem they would go with it,

One is not allowed to be paid to transfer points so the seller can’t sell them.. In addition, you are buying a contract and transferred points are not legally part of that contract..

It will definitely be interesting to hear if they can give them to you.

 

[MouseFiend]

I am going to say no, they can not be sold, Transferred points go into a membership and when that membership no longer exists, it would seem they would go with it,

One is not allowed to be paid to transfer points so the seller can’t sell them.. In addition, you are buying a contract and transferred points are not legally part of that contract..

It will definitely be interesting to hear if they can give them to you.

Spoke with MS this morning and you are correct, I will not be getting the 100 transfer points. To say I’m not happy would be an understatement. Shouldn’t the broker have known that these points can’t be sold? I’ve reached out to the broker and title company this morning to see how this can be resolved. I feel I paid a premium for a loaded contract and what they sold me was a fake bill of goods in a way.

 

[Sandisw]

Spoke with MS this morning and you are correct, I will not be getting the 100 transfer points. To say I’m not happy would be an understatement. Shouldn’t the broker have known that these points can’t be sold? I’ve reached out to the broker and title company this morning to see how this can be resolved. I feel I paid a premium for a loaded contract and what they sold me was a fake bill of goods in a way.

Wow. I think the broker definitely should have known this and I wonder why they allowed it to be listed like this? If it is in the contract as being transferred points, I wonder why it wasn’t caught in the ROFR process?

The good thing is that you have the clause to be paid, but frustrating that you won’t have them. Keep us posted as to what they say in terms of it all.

 

[lovin'fl]

Spoke with MS this morning and you are correct, I will not be getting the 100 transfer points. To say I’m not happy would be an understatement. Shouldn’t the broker have known that these points can’t be sold? I’ve reached out to the broker and title company this morning to see how this can be resolved. I feel I paid a premium for a loaded contract and what they sold me was a fake bill of goods in a way.

Could they be transferring points in via another account? After you get the contract? That's a long shot, but maybe that is the plan. Like I have Aug and June UY so 2 memberships. I just sold two 25 pointers from my Aug UY and could transfer points from my June membership to the new owners once the Aug 25 pointers are loaded to their memberships. I doubt it, but maybe.

 

[Disdad77]

Home: BLT
Broker: **********.com
Title Company: Mason
Offer made: 11/13/2020
Offer accepted: 11/14/2020
Sent to ROFR: 11/16/2020
Passed ROFR: 11/25/2020
Closing docs received: 12/03/2020
Closing docs returned: 12/04/2020
Seller returned closing docs: 12/14/2020
Closing: 12/18/20
Deed recorded:12/21/20
Contract Showing on Membership: 01/02/21
Points in account: 01/07/21

I call MS today and they got my points added to my account and reservation made for this summer. 55 Days from Offer made to points in account. Time to start planning my trip.

 

[Hjs33]

Has anyone gotten reimbursed for the lower 2021 dues yet for contracts that closed recently? I purchased a Poly contract and closed on 12/7, they announced the lower 2021 dues a few days later. So I’m not sure if the title company has the difference or if it was sent to Disney at closing and Disney has it now.

 

[EatMoreVeg]

Has anyone gotten reimbursed for the lower 2021 dues yet for contracts that closed recently? I purchased a Poly contract and closed on 12/7, they announced the lower 2021 dues a few days later. So I’m not sure if the title company has the difference or if it was sent to Disney at closing and Disney has it now.

I just closed 12/29 on a contract. I actually received closing docs with predicted 2021 dues on the statement on 11/20. I had asked the broker several times if this amount would be adjusted with the dues and property tax credits after they received the seller's closing docs on 12/21, and was told that a final estoppel is ordered before closing so they "didn't know yet what the final dues would be". However, once they filed, they went ahead and charged for the full amount quoted on 11/20.

This is a small contract, so I think the credit would've been around $20, so it's not worth making a stink about but it's irritating for sure. I hope if you have a larger contract and a more significant credit for that contract that the title company adjusts the amount accordingly. I am disappointed as I had heard good things about this title company, but I probably would try to avoid them in the future. Not only were their closing costs higher, but they took over a week to close and file the deed after receiving all of the closing documents.