Come on Estoppel!!!!

[Rando_D]

I was trying not to be a pain and wasn't sure about how it normally works as this was our first. I eventually contacted both and that was how I found out the Seller never received the docs. I am sorry that I waited to follow up originally as I lost weeks. I expected the title company to follow up with the Seller and was surprised that they did not.

In retrospect, I would have contacted both the realtor and the title company much quicker to ensure that the closing docs from Seller were received and, if not, that they were both reaching out to Seller to expedite.

Also, I never received an email from the title company stating that they received the closing docs. Not even now when they are supposed to have them. The realtor confirmed that for me. I would have expected the title company to have confirmed when they received my docs, when they received the Sellers docs, and to follow up if they were having an issue. As the closing agent, isn't this what they should be doing?

When I have spoken to the title company, they are pleasant and seem very knowledgeable. However, the process (at least in my case) did not seem good.

 

[Rando_D]

also, it seems like people speak highly of First American from a lot of the comments I have read. For my next purchase, I would like to have a title company that seems to process more efficiently and I would prefer to not wire my funds to the title company until they have confirmed they have what they need from the Seller.

 

[keishashadow]

I was trying not to be a pain and wasn't sure about how it normally works as this was our first. I eventually contacted both and that was how I found out the Seller never received the docs. I am sorry that I waited to follow up originally as I lost weeks. I expected the title company to follow up with the Seller and was surprised that they did not.

In retrospect, I would have contacted both the realtor and the title company much quicker to ensure that the closing docs from Seller were received and, if not, that they were both reaching out to Seller to expedite.

Also, I never received an email from the title company stating that they received the closing docs. Not even now when they are supposed to have them. The realtor confirmed that for me. I would have expected the title company to have confirmed when they received my docs, when they received the Sellers docs, and to follow up if they were having an issue. As the closing agent, isn't this what they should be doing?

When I have spoken to the title company, they are pleasant and seem very knowledgeable. However, the process (at least in my case) did not seem good.

Speaking as a realtor, YES. Apparently, TS closings are now a whole 'nuter animal.

also, it seems like people speak highly of First American from a lot of the comments I have read. For my next purchase, I would like to have a title company that seems to process more efficiently and I would prefer to not wire my funds to the title company until they have confirmed they have what they need from the Seller.

IDK i just emailed my contact there. Turns out he left the company. another person assigned to this closing. Turns out the trust is sitting on the documents...two steps back for me.

 

[Neytiri411]

I was trying not to be a pain and wasn't sure about how it normally works as this was our first. I eventually contacted both and that was how I found out the Seller never received the docs. I am sorry that I waited to follow up originally as I lost weeks. I expected the title company to follow up with the Seller and was surprised that they did not.

In retrospect, I would have contacted both the realtor and the title company much quicker to ensure that the closing docs from Seller were received and, if not, that they were both reaching out to Seller to expedite.

Also, I never received an email from the title company stating that they received the closing docs. Not even now when they are supposed to have them. The realtor confirmed that for me. I would have expected the title company to have confirmed when they received my docs, when they received the Sellers docs, and to follow up if they were having an issue. As the closing agent, isn't this what they should be doing?

When I have spoken to the title company, they are pleasant and seem very knowledgeable. However, the process (at least in my case) did not seem good.

Wow, that is somewhat frustrating. The process is crazy. I'm grateful that resale exists don't get me wrong, but it can be nerve wracking. I almost feel more nervous reading others' experiences! I'm at 24 days post-ROFR and while I was told estoppel would take 20-30 days, I'm wondering if I should contact the broker or title company. After seeing some of the weird scenarios it makes me nervous. Plus, seeing others get their contracts 7-14 days doesn't help (but hey, way to go all of you that were so lucky!!).

 

[Rando_D]

Speaking as a realtor, YES. Apparently, TS closings are now a whole 'nuter animal.



IDK i just emailed my contact there. Turns out he left the company. another person assigned to this closing. Turns out the trust is sitting on the documents...two steps back for me.

so sorry to hear. hope it starts moving in the right direction.

 

[Rando_D]

Wow, that is somewhat frustrating. The process is crazy. I'm grateful that resale exists don't get me wrong, but it can be nerve wracking. I almost feel more nervous reading others' experiences! I'm at 24 days post-ROFR and while I was told estoppel would take 20-30 days, I'm wondering if I should contact the broker or title company. After seeing some of the weird scenarios it makes me nervous. Plus, seeing others get their contracts 7-14 days doesn't help (but hey, way to go all of you that were so lucky!!).

It definitely seems like there are some very different experiences going on with purchases in the resale market. But there does seem to be a similarity in experiences with people using certain brokers / title companies. When all is said and done (as long as it closes), it won't matter other than how it may affect that first year's bookings. I will have a bunch of banked points that I will now probably have issues using as there will be a lack of availability.

 

[bbluvsdis]

this seems like my purchase!

Whenever I question anything, I keep getting "it's Disney". But when I look on the boards, it doesn't seem like Disney is taking as long for ROFR and estoppel as what I have been told by the broker. It also seems like people get the deed recorded quicker that 30 days after sending closing docs back.

it is really frustrating to feel like people are dragging their feet.

Are you having any luck yet? We still have crickets on our end. We used Buy and Sell as our broker and they are great, but the closing company is as slow as molasses! We are on the selling end of the deal. DH is out of work so we sold one of our contracts. We have had house closings that went much faster than this! The problem is we will never know if it was really Disney or not, but I see others closing much faster.

 

[bbluvsdis]

What broker are you all using? I'm just wondering if that makes any difference?

I don't think the broker is the problem. I think it is our title company. Duncan Title. It seems like when our broker calls them miraculously they "just" received the info they needed from Disney. The closing date on our contract was 5/15!

 

[brnrss34]

Update

My time line so far is:

Home: AKV
Sent for ROFR: 4/17
Passed ROFR: 5/2
Closing documents 5/24
Closed 6/5
Deed recorded 6/7.

My title company was First American

They said the received the closing documents at the time and they gave me a tracking number for sellers documents so I knew when they shipped theirs. Good luck to the ones stuck in limbo.

 

[KnightFamily]

Well, our timeline seems to be ridiculous. But here we are.

Home: AKV
Submitted to rofr: 4/20
Passed: 5/9
Closing documents: 6/9

Ours is with first American. They mentioned we need a notary, which I thought was only needed for Alauni. We're Canadian and the seller is American. I emailed the person looking for a response but I trust people here for a faster response. There was no mention of a notary in the 19 page contract. So do we need a notary or is that just a form email that had it there? Thank God we have no trip until 2019. This seems like a super long process, I can't even imagine people doing this with a trip booking deadline! But hey! We got our contract and we're DVC members finally.

 

[keishashadow]

It definitely seems like there are some very different experiences going on with purchases in the resale market. But there does seem to be a similarity in experiences with people using certain brokers / title companies. When all is said and done (as long as it closes), it won't matter other than how it may affect that first year's bookings. I will have a bunch of banked points that I will now probably have issues using as there will be a lack of availability.

I had no issues with using resale agencies in the past. Appears the game has changed dramatically. It's extremely unprofessional and certainly doesn't help promote the TS industry's reputation. TS brokers certainly don't hold buyers' hands thru the process. There is a definite lack of accountability in that regard.

I realize the $ involved are relatively small potatoes and the brokers adhere to whatever the prevailing laws may be in the great state of Florida, but if they would deliver that poor level of customer service in the standard RE market, they would soon find themselves out of business.

It's not difficult to monitor when each step of the sales process happens & send a courtesy email to the buyer/sellers updating them accordingly IMO. A good broker stays on top of these details after an offer has been submitted/accepted via support staff that stays in touch with closing agency

I've a handful of transactions under my belt, but still irritated and anxious to book my first reservation on this purchase. I can only imagine how a first time buyer feels.

Good luck with securing a reservation before the banked points expire, 1 BR @ SSR seem to be the last to disappear. A split stay between resorts may also work out, don't forget to utilize the waitlist system & stalk the member website for missing days.

 

[ahen]

I don't think the broker is the problem. I think it is our title company. Duncan Title. It seems like when our broker calls them miraculously they "just" received the info they needed from Disney. The closing date on our contract was 5/15!

So we have the same title company, I was told no later than today for the closing paperwork. I work nights so i set an alarm to get up so I could go to the bank and get money. Did we get the documents no, I called was told she was out on a family emergency. This is the same woman who sent me someone else's closing documents. I am so over it, I just want my points.

 

[Spartan86]

Update
Offered/Accepted 4-27
Contract received 4-28
Signed Contract Returned 4/29
Sent to ROFR 5/2
Passed ROFR 5/16
Closing Docs received 6/9
Will send Docs out 6/12

Fidelity Resales
First American Title

 

[Spartan86]

Well, our timeline seems to be ridiculous. But here we are.

Home: AKV
Submitted to rofr: 4/20
Passed: 5/9
Closing documents: 6/9

Ours is with first American. They mentioned we need a notary, which I thought was only needed for Alauni. We're Canadian and the seller is American. I emailed the person looking for a response but I trust people here for a faster response. There was no mention of a notary in the 19 page contract. So do we need a notary or is that just a form email that had it there? Thank God we have no trip until 2019. This seems like a super long process, I can't even imagine people doing this with a trip booking deadline! But hey! We got our contract and we're DVC members finally.

Not an expert...but I think you will find any transaction involving "real property" requires a notary for closing and municipal deed recording and transfer.

 

[dsnydaddy]

Ours is with first American. They mentioned we need a notary, which I thought was only needed for Alauni. We're Canadian and the seller is American. I emailed the person looking for a response but I trust people here for a faster response. There was no mention of a notary in the 19 page contract. So do we need a notary or is that just a form email that had it there? Thank God we have no trip until 2019. This seems like a super long process, I can't even imagine people doing this with a trip booking deadline! But hey! We got our contract and we're DVC members finally.

We needed a notary for our first purchase. And I thought it was strange since I had heard of no one else needing such. When I asked the group I got answers on both sides of the issue. But the thing that I found was consistent was that those who needed a notary were financing their purchases. Those who were buying cash, did not. I do not know if that is true or not though. I'll know this time because I am paying cash this time.

 

[Neytiri411]

Speak of the devil. We received our closing documents today. Signed them and sent the big cashier's check. Now for the next part of the waiting game.

 

[Neytiri411]

We needed a notary for our first purchase. And I thought it was strange since I had heard of no one else needing such. When I asked the group I got answers on both sides of the issue. But the thing that I found was consistent was that those who needed a notary were financing their purchases. Those who were buying cash, did not. I do not know if that is true or not though. I'll know this time because I am paying cash this time.

Huh, interesting. We paid cash, did not need a notary, so maybe it's still true. I noticed the sellers need a notary.

 

[lovin'fl]

Oh boy. Shouldn't have popped on this thread. I see estoppel is taking a long time these days...ugghh.

I am waiting on my BWV...
Offer on 5/22
Sent to ROFR on 5/24
Passed on 6/2
Waiting for closing papers...Magic Vacation Title

 

[Spartan86]

We needed a notary for our first purchase. And I thought it was strange since I had heard of no one else needing such. When I asked the group I got answers on both sides of the issue. But the thing that I found was consistent was that those who needed a notary were financing their purchases. Those who were buying cash, did not. I do not know if that is true or not though. I'll know this time because I am paying cash this time.

Cash purchase for us. Notary required. So not sure financing is the "trigger". Our closing cost/docs include title insurance. I wonder if that is it?

 

[Rando_D]

Are you having any luck yet? We still have crickets on our end. We used Buy and Sell as our broker and they are great, but the closing company is as slow as molasses! We are on the selling end of the deal. DH is out of work so we sold one of our contracts. We have had house closings that went much faster than this! The problem is we will never know if it was really Disney or not, but I see others closing much faster.

I agree that it seems to be the title company, (Duncan in the case of ours as well). It seems like it sits there. I was told the estoppel took over a month, that the Seller never received the documents which caused a delay of 2-3 weeks, an additional week delay with no explanation, also delay to my person being out and the title company moving. I had wired funds on 5/16 and we were past our original closing date by heading towards a month.

I called on 6/8 just really frustrated at this point and was then told all of a sudden that it was being recorded which I was able to confirm on the site on 6/9.

A note on one issue: I was told a 2-3 week delay was caused by the seller never receiving the docs, but on the Warranty Deed the Seller executed and notarized the docs on 5/24. So that whole story about them not receiving the docs until a couple of days ago clearly wasn't true.

I wasn't thrilled with the complete lack of communication from the title company and just a litany of excuses. I never received any notice from the title company on anything. Also, if this stuff was happening as they said, a little follow up on their part would have helped with minimizing the delays. To me, the customer service aspect was severely lacking. It made me not want to re-use this company / title company again for my next purchase (if I can avoid it). Unless this is the norm...