Come on Estoppel!!!!

We have been having all kinds of trouble. We are current owners adding on VGF 130 point contract
timeline
Offer accepted 3/21
Passed ROFR 4/14
Closing docs received by me 5/1
My closing docs and certified check received by title company 5/4
Sellers docs received ??? I was told 5/30 but when I inquired today about it they said oh it was 6/9
Deed filed and points transferred????

Throughout this the broker and title company have only contacted me when I have asked questions or complained. They said the seller had 90 days from acceptance to return the closing docs. I felt it was really unacceptable to take a month for the seller to return the docs. The title company has no timeline they are required to follow. I wish I knew this. Was there anything I could have done about this? Can closing sooner be negotiated? I paid full ask and now have missed 11 month bookings for Christmas and marathon weekend. The booking agent basically said "oh well title companies are really busy" The person at the title company handling our contract has left.


I feel your pain! My offer was accepted 3/23 and passed ROFR 4/14. We were supposed to close mid-May and I didn't receive the closing docs until a week past the original closing date. Then it took several weeks for them to actual close it. It was recorded 6/9 (I saw it on the county's site), not yet sent to Disney. Once Disney has it, they are telling me 2-4 weeks before I can book anything. At the rate this is going, I don't expect to be able to book anything until like July. I never expected it all to take 90-100 days. Originally, I had heard a lot of 60-75 days, 90 if your Seller was international (which mine was not). I ended up missing my preferred booking windows. I am hoping I can still book some things I want.

Did it close yet? If so, have you checked the site? http://or.occompt.com/recorder/eagleweb/
 
We have been having all kinds of trouble. We are current owners adding on VGF 130 point contract
timeline
Offer accepted 3/21
Passed ROFR 4/14
Closing docs received by me 5/1
My closing docs and certified check received by title company 5/4
Sellers docs received ??? I was told 5/30 but when I inquired today about it they said oh it was 6/9
Deed filed and points transferred????

Throughout this the broker and title company have only contacted me when I have asked questions or complained. They said the seller had 90 days from acceptance to return the closing docs. I felt it was really unacceptable to take a month for the seller to return the docs. The title company has no timeline they are required to follow. I wish I knew this. Was there anything I could have done about this? Can closing sooner be negotiated? I paid full ask and now have missed 11 month bookings for Christmas and marathon weekend. The booking agent basically said "oh well title companies are really busy" The person at the title company handling our contract has left.
Should be a close by date in your contract. If it doesn't close by then, you can can walk and get money back.
 
Out of curiosity is Duncan Title handling your closing? Our timeline is similar to yours. We accepted an offer on 3/23 and still do not have our money from the sale. The title company does not answer emails or phone calls. I don't understand how the sale of a timeshare can take 3 months when I can buy a house much quicker. If they are so swamped maybe they need to hire more people! The last thing I heard was "hopefully" the deed will be recorded by last Friday.


First American Title Company



Out of curiosity is Duncan Title handling your closing? Our timeline is similar to yours. We accepted an offer on 3/23 and still do not have our money from the sale. The title company does not answer emails or phone calls. I don't understand how the sale of a timeshare can take 3 months when I can buy a house much quicker. If they are so swamped maybe they need to hire more people! The last thing I heard was "hopefully" the deed will be recorded by last Friday.
 
Should be a close by date in your contract. If it doesn't close by then, you can can walk and get money back.

The broker said that the contract was only for the "documents to be completed and sent to the title company" She said that since it was done within 90 days it didn't matter how long the title company took. That doesn't seem right
 


The broker said that the contract was only for the "documents to be completed and sent to the title company" She said that since it was done within 90 days it didn't matter how long the title company took. That doesn't seem right
My contract, the one we signed before going to ROFR, says the contract shall be closed on or before August 5 OR within 30 days of title company's receipt of estoppel unless extended by closing agent or other provisions of the contract. What is the date in your contract? If it has passed, you should be able to walk away and get your money back.
 
Home: Boulder Ridge 120 points
Offer made/accepted: 4/18/2017
Contract out for ROFR: 6/2/2017
Passed ROFR: 6/13/2017
Using Fidelity and First American Title

We are pleasantly surprised with how fast ROFR went, though now I'm a little nervous that Estoppel will take forever based on everyone's experiences. We want to try to take a trip the beginning of January if there's any availability by the time we actually get our points!
 
My contract, the one we signed before going to ROFR, says the contract shall be closed on or before August 5 OR within 30 days of title company's receipt of estoppel unless extended by closing agent or other provisions of the contract. What is the date in your contract? If it has passed, you should be able to walk away and get your money back.

The date on the contract is June 25, but the real estate agent said that date was only for the buyer and seller not title agency and said the title agency was busy and weren't sure when they could get to it. Coincidence or not I will never know but I sent them an email today saying that didn't sound right, I was consulting a lawyer, and to expect legal action if I didn't have my money back or my points by the date on the contract. Within two hours I had an email with an apology and notification that the closing was complete and info sent to Disney. Hopefully I will have my points soon since I already own DVC.
 


Home: Boulder Ridge 120 points
Offer made/accepted: 4/18/2017
Contract out for ROFR: 6/2/2017
Passed ROFR: 6/13/2017
Using Fidelity and First American Title

We are pleasantly surprised with how fast ROFR went, though now I'm a little nervous that Estoppel will take forever based on everyone's experiences. We want to try to take a trip the beginning of January if there's any availability by the time we actually get our points!

We worked with this same duo. My advice would be send in your papers as quickly as possible and stay on top of them about receiving papers from the buyer. You may have a great buyer, but per Fidelity ours didn't send in their paperwork promptly or correctly causing a delay. Was this what happened I will never know but I regret not being more on top of it and letting weeks pass without hearing anything. When I pushed the issue things tended to get done and papers were received the same day as both of my inquiry/complaint calls. If you do not hear anything call them weekly for updates.
 
Home: Boulder Ridge 120 points
Offer made/accepted: 4/18/2017
Contract out for ROFR: 6/2/2017
Passed ROFR: 6/13/2017
Using Fidelity and First American Title

We are pleasantly surprised with how fast ROFR went, though now I'm a little nervous that Estoppel will take forever based on everyone's experiences. We want to try to take a trip the beginning of January if there's any availability by the time we actually get our points!
We too are with Fidelity and First American. Bonnie emailed us 5/16 that we passed ROFR, and our post-estoppel closing paperwork arrived via email 6/9. She said estoppel could take 3 weeks and it was just over that. All indications are that our sellers are motivated so we are hopeful their paperwork turns around soon too-we sent out next day. But we have time. We bought a mostly stripped contract.
 
We worked with this same duo. My advice would be send in your papers as quickly as possible and stay on top of them about receiving papers from the buyer. You may have a great buyer, but per Fidelity ours didn't send in their paperwork promptly or correctly causing a delay. Was this what happened I will never know but I regret not being more on top of it and letting weeks pass without hearing anything. When I pushed the issue things tended to get done and papers were received the same day as both of my inquiry/complaint calls. If you do not hear anything call them weekly for updates.

I will make it my mission to stay on top of them if things seem to be dragging a little too much. I've been pretty pleased with them so far overall, I just hope it stays a pleasant experience. We are so eager to finally be DVC members and get our points!
 
We too are with Fidelity and First American. Bonnie emailed us 5/16 that we passed ROFR, and our post-estoppel closing paperwork arrived via email 6/9. She said estoppel could take 3 weeks and it was just over that. All indications are that our sellers are motivated so we are hopeful their paperwork turns around soon too-we sent out next day. But we have time. We bought a mostly stripped contract.

We have the same timeline with passing ROFR on 5/16 and receiving closing docs on 6/9. Different resale company and title company though. Fascinating.
 
Update, re purchase thru Fidelity. Received email today from closing company after i sent a 2nd email this am inquiring again as to status

4/20: Submitted to ROFR
5/9: Passed
5/24: Contract received
5/25: Cashier's check mailed w/docs
5/30: email from First American-our docs received in office
6/14: following email received from First American

"We have finalized the transaction. Disney has been notified of the change of ownership. Please allow Disney 7-14 business days to complete the transfer. Disney will provide you a welcome letter including your membership id number within 30 days by regular mail. Your owner’s policy, recorded deed and refund check for $50.00 will go out by regular mail within 5-7 business days"

This add on to existing contract, same resort/UY should be much quicker than 30 days I'd hope

No idea re $50 refund, sure not going to complain to get some $ back.
 
Finally!!
Offer made/accepted May 6
Passed ROFR 5/19
Received closing documents 6/14
Will Fedex 6/15.

Not sure where they went but I emailed the realtor and he resent them to me! Now back to planning our Disney Cruise to Alaska in August!
 
Update on our timeline:
Offer made & accepted: 5/1
Sent to ROFR: 5/3
Passed ROFR: 5/16
Closing docs received via email and sent back: 6/9
Closing docs received back by title co: 6/12
Notified contract is closed, deed recorded: 6/14
Membership # received: ??

Now just waiting on Disney. I'm seeing the light at the end of he tunnel! :tongue:
 
One step closer. Recieved notice that my deal has closed and the deed was sent to be recorded. Does anyone know how long this takes? Thank you

I don't know what's typical, but I was notified today that our contract closed, and the occ website already has us recorded.
 
Someone had asked about estoppel and whether it happened before ROFR. I can't find the question now, but no... apparently estoppel happens after ROFR. Our estoppel took a little over 3 weeks after ROFR. I do think they verify some info before but it must not be as thorough as after its done.
 
I don't know what's typical, but I was notified today that our contract closed, and the occ website already has us recorded.

Wow you flew thru the process!

See all my old ones lol but not this purchase on the site.

Wasn't thrilled to take a quickie look @ what might be open for a bonus trip in Nov - Dec and not see more than 2 consecutive nights open to book for a studio. Guess no need to rush now afterall darn it.

2 years ago i was able to book SSR for jersey week the end of August sigh.
 
Yeah, we have Dec 30 to Jan 5 booked at OKW in studio and wanted to switch at 7 months. No such luck. And SIL was slowly deciding if they would come then too and finally decided about two weeks ago...but no 2BR available. And 2BR are typically last to go.

And I am hoping to use new points at BWV to book first week of March...7 month window opens early Aug and I just, the other day when replying here, noticed our contract closing by date is Aug 5. I surely hope we have points loaded by end of July so I can beat 7 month window. DH keeps asking if we got our points yet....silly him as we only went to ROFR on May 24. But I was hoping to have points around July 24....my birthday is the 17th so that would be nicer yet :D
 

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