Come on Estoppel!!!!

[mrsap]

Home: VGF
Title Company: Magic Vacation Title
Offer made: 12/19
Offer accepted: 12/19
Sent to ROFR: 12/22
Passed ROFR: 1/5
Closing docs received:
Closing docs returned:
Closing:
Deed recorded:
Points in my account:



Hope everything goes quickly for everyone!

 

[.landry]

Home: BLT
Title Company: Sterling Title
Offer made: 12/15
Offer accepted: 12/15
Sent to ROFR: 12/18
Passed ROFR: 12/28
Closing docs received: 1/5
Closing docs returned:
Closing:
Deed recorded:
Points in my account:

 

[Bing Showei]

Home: BLT
Title Company: Sterling Title
Offer made: 12/15
Offer accepted: 12/15
Sent to ROFR: 12/18
Passed ROFR: 12/28
Closing docs received: 1/5
Closing docs returned:
Closing:
Deed recorded:
Points in my account:

Holy smokes. You're on track for some kind of record. This with Christmas and New Years thrown into the mix! [note to self: Sterling Title kills it]

 

[sndral]

Unless they are purposefully trying to stall to keep me from renting points. Sort of a thought of, if we can’t use them you can’t either, but that is a terrible way to do things. Karma always comes back. I now hope they miss the 1/30 date and a foreclosure takes place. Spiteful yes, but I can’t help it.

Perhaps they borrowed to buy the contract and have to bring money to the table to pay off dues and the loan and of course the broker’s commission? Have you asked your broker whether seller’s have to make up a shortfall from the proceeds to close?

 

[.landry]

Holy smokes. You're on track for some kind of record. This with Christmas and New Years thrown into the mix! [note to self: Sterling Title kills it]

Right?!?!?!? Its bonkers. Id totally set my expectations to settle in for awhile while waiting!

 

[.landry]

Perhaps they borrowed to buy the contract and have to bring money to the table to pay off dues and the loan and of course the broker’s commission? Have you asked your broker whether seller’s have to make up a shortfall from the proceeds to close?

OH BOY. what a disaster that would be. Im stressed out just thinking about being in that position.

 

[NickBCV]

Perhaps they borrowed to buy the contract and have to bring money to the table to pay off dues and the loan and of course the broker’s commission? Have you asked your broker whether seller’s have to make up a shortfall from the proceeds to close?

Never thought of that. Does Disney require some money down when purchasing a contract or will they finance 100%? If they do financing 100% that could be the case I suppose. It seems to make sense as they purchased their contract three years ago and only used one year of the points before going past due. Nice way to have Disney fund a vacation then never pay I guess. Also makes me wonder if that is the case why sell...probably costs less to just let Disney foreclose.

 

[dreamerle22]

Home: SSR
Title Company: First American Title
Offer made: 10/26
Offer accepted: 10/27
Sent to ROFR: 11/2
Passed ROFR: 11/10
Closing docs received: 12/12
Closing docs returned: 12/20 (Delay in sending back immediately because our names were misspelled in the contract. Also, at this point the sellers still had not returned documents)
Closing: 12/29
Deed recorded: 1/2
Points in my account:

 

[frabjous]

Never thought of that. Does Disney require some money down when purchasing a contract or will they finance 100%? If they do financing 100% that could be the case I suppose. It seems to make sense as they purchased their contract three years ago and only used one year of the points before going past due. Nice way to have Disney fund a vacation then never pay I guess. Also makes me wonder if that is the case why sell...probably costs less to just let Disney foreclose.

You can calculate that by looking up their mortgage on occ (if they took one) and it will give you the amount. You can compare that to the cost for the original issuance of the deed.

 

[NickBCV]

You can calculate that by looking up their mortgage on occ (if they took one) and it will give you the amount. You can compare that to the cost for the original issuance of the deed.

No mortgage listed on the OCC website but interestingly enough they did pay the past due maintence fees and got a release from Disney on 12/20. I wonder what that means. Have they changed their mind and are now not interested in selling? Gets more strange by the day.

 

[frabjous]

No mortgage listed on the OCC website but interestingly enough they did pay the past due maintence fees and got a release from Disney on 12/20. I wonder what that means. Have they changed their mind and are now not interested in selling? Gets more strange by the day.

That’s very strange. Did they think they had to or are they having a change of heart?

 

[NickBCV]

That’s very strange. Did they think they had to or are they having a change of heart?

This is the weirdest transaction ever.

 

[mrsap]

This is the weirdest transaction ever.

I'm sorry you have to deal with this. Did you try calling your agent?

 

[frabjous]

I'm sorry you have to deal with this. Did you try calling your agent?

Yeah has the broker and/or title co indicated they are getting any response at all from the seller, or that they are being ignored?

 

[NickBCV]

I'm sorry you have to deal with this. Did you try calling your agent?

Multiple times. They just keep telling me the seller has not yet sent back papers but they think he will.

 

[NickBCV]

Yeah has the broker and/or title co indicated they are getting any response at all from the seller, or that they are being ignored?

They say he has been responsive to their emails. Although as of last week they sent another reminder and they have not gotten back to me with a response. I put them on notice that I am not granting any extensions. If we do not close by the must close date of 1/30 on the contract I want a full refund.

 

[mrsap]

They say he has been responsive to their emails. Although as of last week they sent another reminder and they have not gotten back to me with a response. I put them on notice that I am not granting any extensions. If we do not close by the must close date of 1/30 on the contract I want a full refund.

Good for you! That’s crazy!!! They better give you back every cent!

 

[frabjous]

They say he has been responsive to their emails. Although as of last week they sent another reminder and they have not gotten back to me with a response. I put them on notice that I am not granting any extensions. If we do not close by the must close date of 1/30 on the contract I want a full refund.

That’s a good sign at least. Maybe you will luck out and this guy is just a serial procrastinator. Would be funny if all that time he didn’t pay dues was just because he didn’t get around to it yet.

 

[NickBCV]

Good for you! That’s crazy!!! They better give you back every cent!

It's a shame though....we made plans for two trips this year and bought an annual pass after we passed ROFR thinking we could use these points. If the sales does not go through I might buy new tickets and save the annual pass for a year we can go twice. Definitely throws a monkey wrench into things though.

 

[NickBCV]

That’s a good sign at least. Maybe you will luck out and this guy is just a serial procrastinator. Would be funny if all that time he didn’t pay dues was just because he didn’t get around to it yet.

Normally I would not mind waiting a little longer except that he has 100 points on the contract that are expiring on March 30, 2018. I was hoping to rent these points out but with only a little over two months remaining before the points expire I am not holding my breath that there will be anyone interested.