Come on Estoppel!!!!

[Bing Showei]

Does anyone know why Jeffrey Sweet closings happen so much quicker than all the others? Every time I've used him, it has been amazingly fast to get closing docs right after passing ROFR and then his office also processes quite quickly. All these other title companies take 3-4 weeks just to get the closing docs??? Curious as to why

Volume. I had two transactions, both international (both Canadian) sellers. The one Sweet handled took 35 days from offer to close. The other contract handled by *** took almost 3 months.

The bigger closing agents handle so much volume that a lot of the down time built into closing (often pinned on Disney or the other party), be it for ROFR, estoppel, or closing docs, is in large part there to buffer their throughput times. Disney will send back estoppel in days and the closing company, with its multi-week caveats, bought itself some time to push through the queue, clearing the ones that came in earlier. Your file sits there waiting for attention.

Resale contracts are not huge moneymakers for these companies, and let’s be honest, we’re a captive audience, so unlike what the buyer/seller may be going through, there is zero sense of urgency for them.

And to be fair, add to the mix how overly anxious we can be as buyers, and the process mostly feels interminable.

 

[ML_LovesDisney]

Volume. I had two transactions, both international (both Canadian) sellers. The one Sweet handled took 35 days from offer to close. The other contract handled by *** took almost 3 months.

The bigger closing agents handle so much volume that a lot of the down time built into closing (often pinned on Disney or the other party), be it for ROFR, estoppel, or closing docs, is in large part there to buffer their throughput times. Disney will send back estoppel in days and the closing company, with its multi-week caveats, bought itself some time to push through the queue, clearing the ones that came in earlier. Your file sits there waiting for attention.

Resale contracts are not huge moneymakers for these companies, and let’s be honest, we’re a captive audience, so unlike what the buyer/seller may be going through, there is zero sense of urgency for them.

And to be fair, add to the mix how overly anxious we can be as buyers, and the process mostly feels interminable.

That makes sense. When they emailed me 20-30 days for estoppel, I thought how is that even possible if one closing agency has it almost instantly (just sold a contract in January and it was 30 days offer to funds received)? But you're right, they say that as a buffer. I wish I would've requested Sweet in the beginning!

 

[rehsu]

Does anyone know why Jeffrey Sweet closings happen so much quicker than all the others? Every time I've used him, it has been amazingly fast to get closing docs right after passing ROFR and then his office also processes quite quickly. All these other title companies take 3-4 weeks just to get the closing docs??? Curious as to why

I noticed that as well. Which company uses Jeffrey Sweet?

 

[Bing Showei]

I noticed that as well. Which company uses Jeffrey Sweet?

Any of the brokers can. FL real estate law is such that you can request any closing agent you want. Whether a broker with “an arrangement” with a particular closing company will comply is another question, but it’s your right to ask for whoever you want.

 

[rehsu]

Yesterday I sent an email asking about my estoppel, today they replied that they received it (not sure when) and my closing docs were first on the list. I received my closing docs within an hour. The FEDEX label was dated from March 20th though. Not sure if they received the estoppel a while ago and took their time or if they were getting things ready beforehand.

Home: SSR
Total Points: 135
Title Company: Magic Vacation Title
Offer made: 2/26 (at night)
Offer accepted: 2/27 (first thing in the morning)
Sent to ROFR: 2/28
Passed ROFR: 3/09
Closing docs received: 3/29
Closing docs returned: 3/29
Confirmation of doc received: 3/30
Closing:
Deed recorded:
Points in my account:

 

[rehsu]

Any of the brokers can. FL real estate law is such that you can request any closing agent you want. Whether a broker with “an arrangement” with a particular closing company will comply is another question, but it’s your right to ask for whoever you want.

Oh I see.. But is there a DVC resale company that usually uses them all the time without the need to request?

 

[Bing Showei]

Yesterday I sent an email asking about my estoppel, today they replied that they received it (not sure when) and my closing docs were first on the list. I received my closing docs within an hour. The FEDEX label was dated from March 20th though. Not sure if they received the estoppel a while ago and took their time or if they were getting things ready beforehand.

Home: SSR
Total Points: 135
Title Company: Magic Vacation Title
Offer made: 2/26 (at night)
Offer accepted: 2/27 (first thing in the morning)
Sent to ROFR: 2/28
Passed ROFR: 3/09
Closing docs received: 3/29
Closing docs returned: 3/29
Confirmation of doc received:
Closing:
Deed recorded:
Points in my account:

If you could feel the estoppel email, it would’ve been warm from *** sitting on it for weeks.

One broker I spoke to dropped *** and referred to it as “the best decision we’ve ever made.”

 

[Bing Showei]

Oh I see.. But is there a DVC resale company that usually uses them all the time without the need to request?

http://dvcbyresale.com/

 

[ML_LovesDisney]

I noticed that as well. Which company uses Jeffrey Sweet?

The one that you can't discuss on this board, it gets asterisked out

 

[TheMick424]

Update:
Home: AKV
Title Company: Magic Vacation Title
Offer Made: 2/16
Offer Countered and Accepted: 2/16
Sent to ROFR: 2/20
Passed ROFR: 3/5
Closing docs received:3/23
Closing docs returned: 3/27
Closing:
Deed recorded:
Points in my account:

Update:
Woo hoo! Looking forward to getting my account set-up and booking our first trip

Home: AKV
Title Company: Magic Vacation Title
Offer Made: 2/16
Offer Countered and Accepted: 2/16
Sent to ROFR: 2/20
Passed ROFR: 3/5
Closing docs received:3/23
Closing docs returned: 3/27
Closing:3/28
Deed recorded:3/29
Points in my account:

 

[thelionqueen]

After being told I “should” get my closing docs by the end of April...Surprise! Estoppel is back an just waiting for declaration. Super excited!

Home: OKW
Total Points: 240
Title Company: Sterling
Offer made: 2/12
Offer accepted: 2/12
Sent to ROFR: 3/2
Passed ROFR: 3/21
Cleared Estoppel: 4/1
Closing docs received:
Closing docs returned:
Confirmation of doc received:
Closing:
Deed recorded:
Points in my account:

 

[Alaina Seddon]

Update...just waiting for the points to show up!

Home: OKW
Title Company: Magic Vacation Title
Offer made: 2/6
Offer accepted: 2/6
Sent to ROFR: 2/8
Passed ROFR: 2/23
Closing docs received: 3/14
Closing docs returned: 3/20
Closing: 3/29
Deed recorded: 3/30
Points in my account:

 

[Wanna be Ariel]

Home: BWV
Total Points: 150
Title Company: First American Title
Offer made: 3/9
Offer accepted: 3/9
Sent to ROFR: 3/15
Passed ROFR: 4/3
Cleared Estoppel:4/10
Closing docs received:
Closing docs returned:
Confirmation of doc received:
Closing:
Deed recorded:
Points in my account:

 

[TonyaG83]

Update:

Selling:
FORMER Home: BLT
Title Company: Magic Vacation Title
Buyer's Offer made: 12/21
Offer accepted: 12/21
Sent to ROFR: 12/26
Passed ROFR: 1/5
Closing docs received: 1/31
Closing docs returned: 2/13 (I was out of town, and a Foreign Seller)
Closing: 2/15
Deed recorded: 2/15
Points out of my account: 2/20

Buying:
Home: AKV
Title Company: Magic Vacation Title
Offer made: 1/13
Offer accepted: 1/13
Sent to ROFR: 1/17
Passed ROFR: 1/30
Closing docs received: 2/21
Closing docs returned: 3/13
Closing: 3/26
Deed recorded: 3/27
Points in my account:

 

[Renee H]

Sorry it was bought. Do you mind me asking the price? Just wondering since mine is still waiting to hear from ROFR and I was purchasing for $100 so wondering if it's a goner. Been 3 weeks and still waiting

What was your verdict on your AKV?

 

[motherof5]

Passed after 21 days. Now I am waiting to hear on title company.

 

[nates]

Update:


Home: AKV
Total Points: 320
Title Company: Magic Vacation Title
Offer made: 3/27
Offer accepted: 3/27
Sent to ROFR: 3/28
Passed ROFR: 4/9
Closing docs received:
Closing docs returned:
Confirmation of doc received:
Closing:
Deed recorded:
Points in my account:

 

[Alaina Seddon]

All done! Woot!

Home: OKW
Title Company: Magic Vacation Title
Offer made: 2/6
Offer accepted: 2/6
Sent to ROFR: 2/8
Passed ROFR: 2/23
Closing docs received: 3/14
Closing docs returned: 3/20
Closing: 3/29
Deed recorded: 3/30
Points in my account: 4/10

 

[Maxwell42]

First time dropping in on this thread - we just received closing docs today!

Home: PVB
Total Points: 250
Title Company: First American Title
Offer made: 3/6
Offer accepted: 3/6
Sent to ROFR: 3/8
Passed ROFR: 3/23
Closing docs received: 4/12
Closing docs returned:
Confirmation of doc received:
Closing:
Deed recorded:
Points in my account:

 

[carolinainmymind]

Home: AUL
Title Company: First American
Offer made: 3/4
Offer accepted: 3/4
Sent to ROFR: 3/9
Passed ROFR: 3/22
Closing docs received: 4/13
Closing docs returned: pending
Closing: pending
Deed Recorded: pending
Points in my account: pending