Closing Time! 2021 and 2022 Edition

Tiberella626

Mouseketeer
Joined
Jan 4, 2020
Updates:

Home Resort: AKL
Broker: www.dvcresalemarket.com
Title Company: Magic Vacation Title
Offer made: 6/01/21
Offer accepted: 6/01/21
Sent to ROFR: 6/07/21
Passed ROFR: 6/30/21
Estoppel received: 7/1/21
Closing docs received: 7/7/21
Closing docs returned buyer:
Closing docs returned seller:
Deed recorded:
Contract Showing on Membership (new member):
Points in account:

Estoppel came in a day after ROFR!!!! That's crazy!!! I had to call Magic Vacation Title to inquire. Our Admin said it would be about a week for our closing documents as they process in order of closing date. Our closing is scheduled for August 19 they said that's the date they have to get everything done. Seems like they are very slow compared to other title companies.
 
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Samita

Earning My Ears
Joined
Mar 21, 2021
Final Update!

Home: AKV
Broker: www.dvcresalemarket.com
Title Company: Magic Vacation Titles
Offer made: 4/12/21
Offer accepted: 4/12/21
Sent to ROFR: 4/14/21
Passed ROFR: 5/7/21
Estoppel Received: ??
Closing docs received: 6/2/2021
Closing docs returned: 6/5/2021
Funds wired: 6/5/2021
Sellers closing docs returned: 6/2/2021
Closing: 6/16/2021
Deed recorded: 6/18/2021
Membership created & contract showing: 6/29/2021
Points in account: 6/30/2021

Total Time from Offer to Points in Account: 79 days
 
  • Tiberella626

    Mouseketeer
    Joined
    Jan 4, 2020
    Final Update!

    Home: AKV
    Broker: www.dvcresalemarket.com
    Title Company: Magic Vacation Titles
    Offer made: 4/12/21
    Offer accepted: 4/12/21
    Sent to ROFR: 4/14/21
    Passed ROFR: 5/7/21
    Estoppel Received: ??
    Closing docs received: 6/2/2021
    Closing docs returned: 6/5/2021
    Funds wired: 6/5/2021
    Sellers closing docs returned: 6/2/2021
    Closing: 6/16/2021
    Deed recorded: 6/18/2021
    Membership created & contract showing: 6/29/2021
    Points in account: 6/30/2021

    Total Time from Offer to Points in Account: 79 days
    I am curious as we have the same title company. Did you have a delayed closing? If not did they tell you why it took a month to get your docs? Or why it took 10 days to close it after docs and fees. I have been seeing people who use Mason getting docs a week after ROFR. We just passed ROFR today so now the hurry up and wait starts over.
     

    Samita

    Earning My Ears
    Joined
    Mar 21, 2021
    I am curious as we have the same title company. Did you have a delayed closing? If not did they tell you why it took a month to get your docs? Or why it took 10 days to close it after docs and fees. I have been seeing people who use Mason getting docs a week after ROFR. We just passed ROFR today so now the hurry up and wait starts over.
    I noticed the same with Mason while anxiously waiting for mine. It wasn’t a delayed closing. I contacted them at least once every week and was told that they usually received estoppel within 3 weeks of passing ROFR and that with Memorial Day weekend it could have taken more time. I sent signed documents and wired funds on a Saturday and I was notified by Title Company they received documents Monday afternoon and funds Tuesday morning. When I contacted them to see if everything was ok and if seller had sent their documents I was told that they had everything from both seller and buyer, but since I financed part of the contract they were waiting to receive funds from financial institution. We closed immediately after they received those funds and after that everything else went relatively fast.
     

    Lee Matthews

    DIS Veteran
    Joined
    Jan 16, 2009
    I’ve only just noticed that my contract for AKV does have a closing date. Is that the date that the escrow company closes as long as they have all the documents or is that the latest they expect to close?
     

    Sandisw

    DVC Forums
    Moderator
    Joined
    Nov 15, 2008
    I’ve only just noticed that my contract for AKV does have a closing date. Is that the date that the escrow company closes as long as they have all the documents or is that the latest they expect to close?
    It is the latest they hope to close the contract. If things are in earlier, they will close earlier.

    This is why most put 60 to 75 days for closing to allow for delays by all parties.
     

    covebarlove

    Earning My Ears
    Joined
    Oct 27, 2016
    I am curious as we have the same title company. Did you have a delayed closing? If not did they tell you why it took a month to get your docs? Or why it took 10 days to close it after docs and fees. I have been seeing people who use Mason getting docs a week after ROFR. We just passed ROFR today so now the hurry up and wait starts over.
    We used Magic Vacation Title, too and are currently waiting on closing. Our closing docs took longer than other title companies, so we asked Magic Vacation Title about it. They said they were processing all paperwork in order of closing date and holding some for later if they still had a while before that date. We passed ROFR on June 4th, and they didn't send us closing docs until last Friday because our closing date is listed as July 30th.
     

    KTownRaider

    Mouseketeer
    Joined
    Apr 22, 2021
    We used Magic Vacation Title, too and are currently waiting on closing. Our closing docs took longer than other title companies, so we asked Magic Vacation Title about it. They said they were processing all paperwork in order of closing date and holding some for later if they still had a while before that date. We passed ROFR on June 4th, and they didn't send us closing docs until last Friday because our closing date is listed as July 30th.
    I have Magic Vacation too. Passed ROFR on 6/1 and got estoppel on 6/14. Just got closing docs on Tuesday, 6/28 (already returned) and have a close date of July 28. Definitely slow going...
     

    ajiuo

    Practically Perfect In Every Way
    Joined
    Feb 23, 2020
    I have Magic Vacation too. Passed ROFR on 6/1 and got estoppel on 6/14. Just got closing docs on Tuesday, 6/28 (already returned) and have a close date of July 28. Definitely slow going...
    Why is your closing date a month after closing documents have been returned? Doesn’t that usually happen pretty quick after documents have been returned?
     

    KTownRaider

    Mouseketeer
    Joined
    Apr 22, 2021
    Why is your closing date a month after closing documents have been returned? Doesn’t that usually happen pretty quick after documents have been returned?
    Sorry- I should clarify- I submitted my portion of closing docs/funds yesterday. I don't know anything about the seller portion yet. I assume in normal circumstances, if the seller returned their docs quickly, the deal would close quickly. It appears from this thread that *** is prioritizing based on close date, and my wait to get closing docs after estoppel seems indicative of that. I just stated my July 28 close date as a reference to the previous poster who had July 30.
     

    antib

    Earning My Ears
    Joined
    Mar 30, 2021
    Home: AUL
    Broker: https://www.fidelityrealestate.com/
    Title Company: First American
    Offer made: 3/30/21
    Offer accepted: 4/2/2021
    Sent to ROFR: 4/6/2021
    Passed ROFR: 5/3/2021
    Estoppel Received: 5/12/2021
    Closing docs received: 05/27/2021
    Closing docs returned: 05/28/2021
    Money Wired: 05/28/2021
    Sellers closing docs returned: 06/11/2021
    Closing: 06/23/2021
    Deed recorded: 06/23/2021
    Contract Showing on Membership:
    Points in account:
     

    Lee Matthews

    DIS Veteran
    Joined
    Jan 16, 2009
    It is the latest they hope to close the contract. If things are in earlier, they will close earlier.

    This is why most put 60 to 75 days for closing to allow for delays by all parties.
    thanks for that. Because the sellers had a trip booked, the closing date was moved a few days until today the 2nd. Mason title contacted me yesterday as one piece of info for Monera was required.

    hopefully that means we will be closing in the next few hours.
     

    Lorana

    DIS Veteran
    Joined
    Jan 30, 2001
    Updated: Closing docs have been received, but www.****************.com and Mason Title use a lawyer to close on their HHI contracts, which has significantly dragged out this process - partly because the closing docs are now on their THIRD iteration, as the lawyer keeps finding mistakes, needs new ones, which pushes out the closing we have to schedule to do over the phone... uggggh. I don't know if my last contract skipped legal proceedings they needed to do or not, but it was certainly much faster... this process is taking longer than ROFR! As it is, a date was wrong on the last closing docs sent to the lawyer, and so I'm now waiting for the closing docs to be fixed and for the lawyer to reach out to me to reschedule the closing time.

    Home: HHI
    Broker: www.****************.com
    Title Company: Mason
    Offer made: 5/14/2021
    Offer accepted: 5/15/2021 (1 day)
    Sent to ROFR: 5/20/2021 (5 days)
    Passed ROFR: 6/10/2021 (21 days)
    Estoppel Received: 6/25/2021 ? (15 days)
    Closing docs received: 6/25/2021 (15 days)
    Closing docs returned: 6/26/2021
    Sellers closing docs returned: 6/28/2021 (3 days from closing docs received)
    Paid Final Payment: 6/28/2021
    Closing: ???? Was supposed to be today (7 days from closing docs received)
    Deed recorded:
    Contract Showing on Membership (new member):
    Points in account:

    TIME TOTAL: 49 days and counting...
    offer to ROFR Passing: 21 days
    ROFR passing to Closing: 22 days and counting...
    Closing to Points in Account:
     

    Lee Matthews

    DIS Veteran
    Joined
    Jan 16, 2009
    Home: AKV
    Broker: www.dvcresalemarket.com
    Title Company: Mason
    Offer made: 4/10/21
    Offer accepted: 4/10/21
    Sent to ROFR: 4/17/21
    Passed ROFR: 5/10/21
    Estoppel Received: ??
    Closing docs received: 5/22/2021
    Closing docs returned: 6/3/2021
    Funds wired: 6/3/2021
    Sellers closing docs returned: 6/14/2021
    Closing: 7/2/2021
    Deed recorded:
    Membership created & contract showing:
    Points in account:

    Total Time from Offer to Points in Account:
     
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    Lee Matthews

    DIS Veteran
    Joined
    Jan 16, 2009
    If DVC received our contracts for transfer within 24 hours like I mentioned above does anyone think that they are likely to process and sort it before they close on the 8th?
    I imagine they’ll wait until they are back in on the 20th?
     

    macman123

    DIS Veteran
    DVC Gold
    Joined
    Mar 12, 2020
    If DVC received our contracts for transfer within 24 hours like I mentioned above does anyone think that they are likely to process and sort it before they close on the 8th?
    I imagine they’ll wait until they are back in on the 20th?
    No chance. Once you close it takes around 3 weeks to get the contract loaded. Then a further few days to get the points added.
     

    Lee Matthews

    DIS Veteran
    Joined
    Jan 16, 2009
    thought that would be the case. Even if it’s done for the end of the month then I’m still 5 weeks before my 11 month booking
     

    LadybugsMum

    DIS Veteran
    Joined
    Jun 18, 2020
    Passed ROFR this morning; so I'm getting started over here.

    Home Resort: BWV
    Broker: www.dvcresalemarket.com
    Title Company: Magic Vacation Title
    Offer made: 6/11/2021
    Offer accepted: 6/11/2021
    Sent to ROFR: 6/15/2021
    Passed ROFR: 7/06/2021
    Closing docs received:
    Closing docs returned:
    Closing:
    Deed recorded:
    Contract Showing on Membership (new member):
    Points in account:

    Days Total: 25 so far...
     

    GeorgeSmith5758

    Earning My Ears
    Joined
    Jul 6, 2021
    If I already have a DVC resale contract and purchase a second, will the upload time for the new points be shorter than the first go around? Or will it be about the same amount of time from closing to points uploaded in my account?
     

    macman123

    DIS Veteran
    DVC Gold
    Joined
    Mar 12, 2020
    Home: VGF
    Broker: https://www.**********.com/
    Title Company: Mason
    Offer made: 04/28/21
    Offer accepted: 04/29/21
    Sent to ROFR: 04/29/21
    Passed ROFR: 05/18/21
    Estoppel Received: ?
    Closing docs received: 6/04/21
    Closing docs returned: 6/29/21
    Sellers closing docs returned:
    Closing: 6/02/21
    Deed recorded: - 7/06/21
    Contract Showing on Membership: -
    Points in account:
     

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