Closing Time!!

[sunryzez]

Just an update in case you did not read my other thread.

In early May I put an offer on 100 pts for Vero. It went through ROFR and Estoppel and the deal just fell through after a three month wait. It was a very unorganized situation with a lot of miscommunication or no communication for long periods of time. I just want to write this because I know most people have no problems at all but want to make people aware that these sales are not a done deal until it is closed. The sale was a mess from day one. If I was to ever do it again I would not use either the agent/company I used or the title company. ( Although it will definitely be a while before we decide to go through it all again because I am devastated that I just wasted three months and have to start over.) I honestly never even considered this type of thing happening since I was using a "reliable" company so please just remember to stay on top of every portion of your sale.

 

[Matty B13]

Just an update in case you did not read my other thread.

In early May I put an offer on 100 pts for Vero. It went through ROFR and Estoppel and the deal just fell through after a three month wait. It was a very unorganized situation with a lot of miscommunication or no communication for long periods of time. I just want to write this because I know most people have no problems at all but want to make people aware that these sales are not a done deal until it is closed. The sale was a mess from day one. If I was to ever do it again I would not use either the agent/company I used or the title company. ( Although it will definitely be a while before we decide to go through it all again because I am devastated that I just wasted three months and have to start over.) I honestly never even considered this type of thing happening since I was using a "reliable" company so please just remember to stay on top of every portion of your sale.

After buying our first contract, one of the questions I always ask when making a bid on a contract is if the current owners are in the middle of a divorce. They are usually messy and take a long time to unwind the combined assets. There really isn't anything that the brokers can do in this situation except wait it out.

The second question is if it is an international seller. Because it can add quite a bit of time as well to closing.

I'm really sorry this happened to you, hope the next one goes smoothly and make sure to ask these questions.

 

[ITGirl50]

Boulder Ridge 220 points August use year
Using Fidelity and First American Title

Feels like Christmas because we are done!! All points are ready to use and we had planned to book tomorrow for a trip in March. Perfect timing.

We started in April with a different contract (BCV) and it was RFOR'd after 28 days of waiting. So we tried again with an easier to pass resort and at a much lower cost. We got a lot more points with this one and still love the resort.

6/6 Offer accepted
6/7 Paperwork in and moved to ROFR
6/19 passed ROFR
7/14 Closing DOCS received
7/17 Closing Docs received by Title Co for Buyer
7/21 Closing Docs received by Title Co for Seller
7/24 CLOSED!! and Deed Recorded on Orange County Controller
8/1 contract was listed on our logon with no points (already owners)
8/2 Points in account!!!

 

[ITGirl50]

Just an update in case you did not read my other thread.

In early May I put an offer on 100 pts for Vero. It went through ROFR and Estoppel and the deal just fell through after a three month wait. It was a very unorganized situation with a lot of miscommunication or no communication for long periods of time. I just want to write this because I know most people have no problems at all but want to make people aware that these sales are not a done deal until it is closed. The sale was a mess from day one. If I was to ever do it again I would not use either the agent/company I used or the title company. ( Although it will definitely be a while before we decide to go through it all again because I am devastated that I just wasted three months and have to start over.) I honestly never even considered this type of thing happening since I was using a "reliable" company so please just remember to stay on top of every portion of your sale.

This really stinks. Not being experienced in resale buying you just don't expect these things to happen. Thank you for posting your story so others can learn from it without having to experience it.

 

[CarAnn]

Another item to check on (if possible) is to see if a seller is in the middle of a bankruptcy. The sale may require a letter from the bankruptcy court that it can be sold and that adds time. It starts by holding up the answer for the ROFR.

 

[w84no1]

Just received my closing documents from First American Title, on my way to the bank to get my cashiers check!!! Almost there.

 

[AzGoofyDad]

Saratoga Springs
200 points
February Use Year
Broker: Fidelity
First American Title

Offer accepted: 6/11/17
Sent to ROFR: 6/12/17
Passed ROFR: 6/23/17
Estoppel recieved: 7/18/17
Closing documents received: 7/28/17
Buyer docs sent back: 7/29/17
Confirmed receipt of buyer docs: 7/31/17
Confirmed receipt of seller docs: ????
Closed: ????
Recorded of OCC: ????
Membership #: ?????
Points loaded: ?????

Update after some very straight forward emails to avoid more delays. Now it's all on DVC member services for member number and points. I know I'll get that pretty easy from them as I'm able to smoothly talk my way with people, I'm targeting next Friday to get it.

200 points
February Use Year
Broker: Fidelity
First American Title

Offer accepted: 6/11/17
Sent to ROFR: 6/12/17
Passed ROFR: 6/23/17
Estoppel recieved: 7/18/17
Closing documents received: 7/28/17
Buyer docs sent back: 7/29/17
Confirmed receipt of buyer docs: 7/31/17
Confirmed receipt of seller docs: 7/31/17
Closed: 8/2/17
Recorded of OCC: 8/3/17
Membership #: ?????
Points loaded: ?????

 

[1momof3boys3]

Update after some very straight forward emails to avoid more delays. Now it's all on DVC member services for member number and points. I know I'll get that pretty easy from them as I'm able to smoothly talk my way with people, I'm targeting next Friday to get it.

200 points
February Use Year
Broker: Fidelity
First American Title

Offer accepted: 6/11/17
Sent to ROFR: 6/12/17
Passed ROFR: 6/23/17
Estoppel recieved: 7/18/17
Closing documents received: 7/28/17
Buyer docs sent back: 7/29/17
Confirmed receipt of buyer docs: 7/31/17
Confirmed receipt of seller docs: 7/31/17
Closed: 8/2/17
Recorded of OCC: 8/3/17
Membership #: ?????
Points loaded: ?????

Was there a delay in getting the closing docs or is that timeframe normal? Seems like 10 days after estoppel is a long time, but I'm new to this. =)

 

[AzGoofyDad]

Was there a delay in getting the closing docs or is that timeframe normal? Seems like 10 days after estoppel is a long time, but I'm new to this. =)

Right now it seems First American Title has a reputation for not being effecient. Many times they blame other parties for issues. I was told 3 weeks from ROFR to closing, I emailed right at 3 week mark as I had no update, was told to email next week which I was told docs were approved and would have following Wednesday.

Still didn't get nor a response from my broker so I called FA myself who told me they emailed me the docs two days before, never got them. Then my broker called me saying they were sent day before and said it had my correct email address in her email she was cc'd. On Friday, my five weeks from ROFR I got an email, actually four, with my closing docs.

My wife and I signed that night and I overnighted them on Saturday, tracked them on FedEx. About 3 hours after they landed I emailed my escrow officer saying I know you got my docs at xx time, and I know sellers docs are in the office. I also explained I would appreciate no more delays as they have wasted a few weeks already and my windows for booking/banking are closing soon. I also said I know most title companies can get this done in a day or so with all documentation in and what else do I have to do to ensure it stays on track. I got an email saying 2-3 days and low n behold its on the comptroller site in 3 days.

I stalked my seller a bit on the comptroller knowing he is very diligent about docs getting done so I was not worried about the seller. In fact he signed our contract same day and got it in before me.

 

[1momof3boys3]

Right now it seems First American Title has a reputation for not being effecient. Many times they blame other parties for issues. I was told 3 weeks from ROFR to closing, I emailed right at 3 week mark as I had no update, was told to email next week which I was told docs were approved and would have following Wednesday.

Still didn't get nor a response from my broker so I called FA myself who told me they emailed me the docs two days before, never got them. Then my broker called me saying they were sent day before and said it had my correct email address in her email she was cc'd. On Friday, my five weeks from ROFR I got an email, actually four, with my closing docs.

My wife and I signed that night and I overnighted them on Saturday, tracked them on FedEx. About 3 hours after they landed I emailed my escrow officer saying I know you got my docs at xx time, and I know sellers docs are in the office. I also explained I would appreciate no more delays as they have wasted a few weeks already and my windows for booking/banking are closing soon. I also said I know most title companies can get this done in a day or so with all documentation in and what else do I have to do to ensure it stays on track. I got an email saying 2-3 days and low n behold its on the comptroller site in 3 days.

I stalked my seller a bit on the comptroller knowing he is very diligent about docs getting done so I was not worried about the seller. In fact he signed our contract same day and got it in before me.

Yikes! I just passed ROFR and now I'm waiting for estoppel/closing docs. I am going through Fidelity, which I'm pretty sure uses First American.... so, now I'm nervous!

 

[ITGirl50]

Yikes! I just passed ROFR and now I'm waiting for estoppel/closing docs. I am going through Fidelity, which I'm pretty sure uses First American.... so, now I'm nervous!

Mine took 25 days after ROFR to get the closing docs. Also used First American. After the seller and we sent back the docs in the next day, it closed in a week and was on the OCC site. It took 9 days after closing to get our points!

 

[CarAnn]

Yikes! I just passed ROFR and now I'm waiting for estoppel/closing docs. I am going through Fidelity, which I'm pretty sure uses First American.... so, now I'm nervous!

I might recommend that you keep a close watch on it. Mine passed ROFR on 6/2 and I received closing documents on 7/18. I found that I needed to pursue it more than once with Fidelity (and they followed up more than once with First American). My purchase has taken a while because of other factors (contract was submitted to Disney on 4/13) but I think that only held up getting a response for the ROFR. As mentioned, my experience after that is similiar to what others have indicated so I think it's unrelated to the issue that caused the delayed response for the ROFR. My docs were recorded on 7/31 so I am just waiting to hear from Disney now.

 

[condorthb]

Mine took 25 days after ROFR to get the closing docs. Also used First American. After the seller and we sent back the docs in the next day, it closed in a week and was on the OCC site. It took 9 days after closing to get our points!

It took 34 days after passing ROFR to get closing docs. I had to have our broker contact First American twice to get them.

On top of that, FA used the wrong address on the warranty deed. I asked them to file a corrective deed and ........................crickets.

 

[ITGirl50]

It took 34 days after passing ROFR to get closing docs. I had to have our broker contact First American twice to get them.

On top of that, FA used the wrong address on the warranty deed. I asked them to file a corrective deed and ........................crickets.

Yea I stopped calling the broker because they stopped responding or giving me responses like call me on Friday and it was Monday. Annoying as heck.
I contacted First American directly because I had their contact info from a previous broker on a contract that got ROFR'd. Fidelity doesn't give you the contact info of FA they make you go through them. I'm glad I had it. After I contacted FA it moved faster. I probably waited too long, but I gave them a chance to do their work and then got annoyed with waiting. We wanted to make a reservation on Aug 3. We got our points in Aug 2. I did call Disney and let them know nicely that I was nervous about getting the points in time and they got it done.

 

[Matty B13]

Yea I stopped calling the broker because they stopped responding or giving me responses like call me on Friday and it was Monday. Annoying as heck.
I contacted First American directly because I had their contact info from a previous broker on a contract that got ROFR'd. Fidelity doesn't give you the contact info of FA they make you go through them. I'm glad I had it. After I contacted FA it moved faster. I probably waited too long, but I gave them a chance to do their work and then got annoyed with waiting. We wanted to make a reservation on Aug 3. We got our points in Aug 2. I did call Disney and let them know nicely that I was nervous about getting the points in time and they got it done.

Do you have the phone number over there at First American? Can I have it? I'm going through Fidelity currently on a resale contract, but it has only been a week into ROFR, but still doesn't hurt to have a contact at the Title company.

 

[ITGirl50]

Do you have the phone number over there at First American? Can I have it? I'm going through Fidelity currently on a resale contract, but it has only been a week into ROFR, but still doesn't hurt to have a contact at the Title company.

Sent you a PM.

 

[Greg36]

Sent you a PM.

would you mind sending that to me as well? We are currently going through ROFR as well and have First American. After reading through this thread I am getting nervous... Thank you...

 

[Tlmb615]

Our Current Status:
AKV - 150 pts

Offer sent and accepted: 6/28/17
Sent for ROFR: 7/2/17
Passed ROFR: 7/15/17
Closing docs received: 7/31/17
Closing docs sent back: 8/1/17
Closed: ??
Recorded: ??
Membership Number Added:??
Points Loaded: ??

Any updates? Apparently they are still waiting for something from the seller on mine.

 

[Smilelea]

Any updates? Apparently they are still waiting for something from the seller on mine.

Same here.. the broker emailed Friday and said that he spoke with the seller, and they plan to get their docs returned early this week.

 

[Tlmb615]

Mine said they are waiting for one item from seller. Good luck