Closing Time!

[varyth]

Please forgive me if this is answered already somewhere, I just can’t find it. Currently have our first contract in ROFR and stalking here and ROFR board like a crazy person. Why do some buyers receive closing docs almost immediately and others seem to take many weeks to a month? Thanks, all.

Depends on how busy the title company is. I think Magic Vacation Title was working through a large backlog when I was going through the closing process. Others using Mason Title were receiving their docs the next day!

 

[earfulofmagic]

Home Resort: VGF
Broker: Fidelity
Title Company: Mason Title
Offer made: April 20
Offer accepted: April 21
Sent to ROFR: April 25
Passed ROFR: May 23
Closing docs received: May 24
Closing docs returned: Jun 22 (international sale, long wait for seller to find notary and do closing docs etc)
Closing: Jun 28
Deed recorded: Jun 28
Contract Showing on Membership (new member): Jul 26, I believe - I was away on a business trip that week but this date is when my "Welcome Home!" and other emails came through; did not set up my new member account until July 30, contract was already visible then
Points in account:

Days Total: 108 days and counting!

Chatted in today and they said 6-8 weeks from closing day to get points loaded! Meanwhile I have 2021 points expiring end of September Guess I'll try calling tomorrow?

 

[Parkhopperplanner]

Update - almost there.

Home Resort: Old Key West (extended)
Broker: https://www.dvcresalemarket.com/
Title Company: Magic Vacation Title
Offer made: 4/25/22
Offer accepted: 4/26/22 (1 days)
Sent to ROFR: 4/29/22 (4 days)
Passed ROFR: 5/28/22 (estoppel issued) (33 days)
Closing docs received: 6/22/22 (58 days)
Closing docs returned: 7/6/22 (72 days)
Closing: 7/11/22 (77 days)
Deed recorded: 7/13/22 (78 days)
Contract Showing on Membership (new member): 8/3/22 (100 days)
Points in account:

Days Total:

Final update!!
Home Resort: Old Key West (extended)
Broker: https://www.dvcresalemarket.com/
Title Company: Magic Vacation Title
Offer made: 4/25/22
Offer accepted: 4/26/22 (1 days)
Sent to ROFR: 4/29/22 (4 days)
Passed ROFR: 5/28/22 (estoppel issued) (33 days)
Closing docs received: 6/22/22 (58 days)
Closing docs returned: 7/6/22 (72 days)
Closing: 7/11/22 (77 days)
Deed recorded: 7/13/22 (78 days)
Contract Showing on Membership (new member): 8/3/22 (100 days)
Points in account: 8/5/22 (102 days) via chat late Friday evening, hoping to snag a January reservation!

Total days 102

 

[Jimmy Geppetto]

It astonishes me at how many people are using Magic Vacation Title with board sponsor when Mason Title has significantly faster turn around times.

 

[cgard87]

I assume people don't understand they have a choice and or dont know what title companies exist!

 

[Jimmy Geppetto]

I assume people don't understand they have a choice and or dont know what title companies exist!

Good point! Not to mention that Mason’s closing fees are lower than Magic too. I always get a quote from three title insurers and Mason is always the lowest.

 

[Xlkrum24]

We just closed on our 1st DVC purchase last Tuesday and the deed was recorded the same day. Has anyone had any luck calling Member Administration and getting them to expedite account setup? We are hoping to be able to use our points for a trip before the end of the year!

 

[Jimmy Geppetto]

We just closed on our 1st DVC purchase last Tuesday and the deed was recorded the same day. Has anyone had any luck calling Member Administration and getting them to expedite account setup? We are hoping to be able to use our points for a trip before the end of the year!

You will find a number of people on these boards have tried with very little success. It's my understanding that MA only communicates via email. I would say it doesn't hurt trying... but don't expect any pixie dust. Fingers crossed for you.

 

[Xlkrum24]

You will find a number of people on these boards have tried with very little success. It's my understanding that MA only communicates via email. I would say it doesn't hurt trying... but don't expect any pixie dust. Fingers crossed for you.

thanks. I kind of thought that might be the case. I sent them an email, and will probably try calling later this week. fingers crossed!

 

[Sandisw]

thanks. I kind of thought that might be the case. I sent them an email, and will probably try calling later this week. fingers crossed!

Unless it’s changed, MA..who creates your account can only be reached by email. I do t believe they are taking calls.

Once your membership is created, and you see the contract, then you can give MS a call to see if you can get the points loaded faster so you can book.

Not sure when you are traveling but there is not a lot of DVC availability right now..we don’t allow people to post since it changes so much that it doesn’t matter until you ca. book..so go in being very very flexible with dates and the need to move resorts!

 

[Xlkrum24]

Unless it’s changed, MA..who creates your account can only be reached by email. I do t believe they are taking calls.

Once your membership is created, and you see the contract, then you can give MS a call to see if you can get the points loaded faster so you can book.

Not sure when you are traveling but there is not a lot of DVC availability right now..we don’t allow people to post since it changes so much that it doesn’t matter until you ca. book..so go in being very very flexible with dates and the need to move resorts!

Thanks! I was able to get through to someone with Member Admin last week, but it was way too soon after closing. Oh yeah, i'll change resorts every day if we have to! thanks for the advice!

 

[AKVDisneyFan]

It astonishes me at how many people are using Magic Vacation Title with board sponsor when Mason Title has significantly faster turn around times.

I didn’t know I had a choice. We used Mason for our first resale contract and Cammy was awesome. After using Magic this time, I’ll ask to use Mason again next time.

 

[garegco]

It astonishes me at how many people are using Magic Vacation Title with board sponsor when Mason Title has significantly faster turn around times.

We put an offer in with the board's sponsor that was eventually taken by the ROFR monster and requested to use Mason Title. We did get a little bit of pushback that Magic Vacation Title is their preferred agent due to QA/QC reasons but we stood firm and told them it was a condition of our purchase and they allowed it.

Anyone else see a conflict of interest to have the escrow company and broker be under the same ownership?

 

[Nursemanit]

We put an offer in with the board's sponsor that was eventually taken by the ROFR monster and requested to use Mason Title. We did get a little bit of pushback that Magic Vacation Title is their preferred agent due to QA/QC reasons but we stood firm and told them it was a condition of our purchase and they allowed it.

Anyone else see a conflict of interest to have the escrow company and broker be under the same ownership?

They have to give you the choice - If fact they should ask who you would like not just offer theirs.

 

[cgard87]

We put an offer in with the board's sponsor that was eventually taken by the ROFR monster and requested to use Mason Title. We did get a little bit of pushback that Magic Vacation Title is their preferred agent due to QA/QC reasons but we stood firm and told them it was a condition of our purchase and they allowed it.

Anyone else see a conflict of interest to have the escrow company and broker be under the same ownership?

Yes its a big conflict of interest especially if they are charging a higher price!

 

[adribelle]

Home Resort: Hilton Head
Broker: https://www.dvcresalemarket.com/
Title Company: Mason
Offer made: 7/6/22
Offer accepted: 7/6/22 (0 days)
Sent to ROFR: 7/8/22 (2 days)
Passed ROFR: 8/8/22 (31 days)
Closing docs received: 8/8/22 (31 days)
Closing docs returned: 8/8/22 (31 days)
Closing:
Deed recorded:
Contract Showing on Membership (new member):
Points in account:

 

[SarahC97]

Closed on my resale contract a couple of weeks ago and just got the email with my activation code. But it's asking for my Club ID and activation code -- do those come in separate emails?

 

[DonMacGregor]

Closed on my resale contract a couple of weeks ago and just got the email with my activation code. But it's asking for my Club ID and activation code -- do those come in separate emails?

Yes

 

[TraJon]

Home Resort: Boulder Ridge
Broker: DVCSTORE
Title Company: Mason
Offer made: 6/27
Offer accepted: 6/27
Sent to ROFR: 6/28
Passed ROFR: 7/26
Closing docs received: 7/28
Closing docs returned: 7/29 (buyer)
Closing docs returned: (seller) ?
Closing: 8/8
Deed recorded:
Contract Showing on Membership:
Points in account:

Will they notify us when the deed is recorded?

 

[SarahC97]

So, I was able to get my membership set up but of course, the points aren't loaded yet. I chatted with MS and they said to give it a week and if they've not loaded contact them and they'd see if they can load them. On the boards, I've read some people being able to get them loaded within 24 hours of setting up their account by contacting member services. Should I call or should I really wait a week? I'm trying to get a couple of nights at the end of January, so I'm pretty impatient about getting this done. Just wanted to see if they really can load them quickly or if I should actually wait?