Closing Time!!

[Bambi19]

Home : Anima Kingdom
Broker: Fidelity
Title Company: First American
Offer made: 6/4/2020
Offer accepted: 6/4/2020
Sent to ROFR: 6/5/2029
Passed ROFR: 7/20/2029
Closing docs received: 7/24/2020
Closing docs returned: 7/28/2020
Seller returned closing docs: Canadian sellers trying to find notary (not returned yet?)
Closing:
Deed recorded:
Contract Showing on Membership:
Points in account:

 

[lcur77]

I've just emailed them this morning to see what they say, I'm expecting zero response, or the standard 6-7 weeks reply.

I've said if I don't believe their response to be satisfactory I will contact BBB (business bureau) as I've seen a few complaints on there about the points expiration policy that seemed to get Disney's attention

Would love to see some sort of action taken through that channel to get this process sped up. I am sure there is some sort of language in a contract somewhere but I don't see how it can be legal to not be given access to the points/contract sooner when it is legally yours. I understand we are in a pandemic but its been 5 months already. They should staff at the appropriate level, even if that means employees working from home. Other businesses have had to make adjustments, Disney should too.

 

[Rm4OneMore]

This is our first contract so for those of you in the same boat, here's what the timeline looks like for new members. The TLDR version is just shy of 16 weeks from start to finish.

Home: AKV
Broker: DVC Resale Market
Title Company: Magical Vacation Title LLC
Offer made: 4/21/2020
Offer accepted: 4/21/2020
Sent to ROFR: 4/22/2020
Passed ROFR: 5/13/2020
Deed recorded: 6/9/2020
Contract Showing on Membership: 7/18/2020
Points in account: 8/9/2020

 

[Sandisw]

do you know what legislation is in place for how long Disney are allowed for processing these transactions? I can’t believe that there isn’t something in place to ensure it’s done in a timely manner? 2 months seems incredibly unreasonable when it’s simply a matter of hiring more people

There is nothing legally that provides a timeline and given the current situation and furloughed workers, the process will take longer.

Many areas of TWDC still have employees off. However, they have called some people back from what I have been told and last week, we did see movement for deeds recoded end of June.

Frustrating yes, as I too am waiting but honestly, can’t force them to hire people simply because.

 

[Sandisw]

Would love to see some sort of action taken through that channel to get this process sped up. I am sure there is some sort of language in a contract somewhere but I don't see how it can be legal to not be given access to the points/contract sooner when it is legally yours. I understand we are in a pandemic but its been 5 months already. They should staff at the appropriate level, even if that means employees working from home. Other businesses have had to make adjustments, Disney should too.

Nothing in the contracts that provide a timeline of having things done in this area,

 

[Lorana]

Nothing in the contracts that provide a timeline of having things done in this area,

There really should be.

I honestly would be fine with it taking a while, so long as Disney ensure I did not lose out because of *their* delay. I legally own this deed. It is closed and recorded. But I am going to lose value from my 2019 UY because Disney has not given me access to the deed I legally own in order to allow me to use the points banked into my 2019 UY (presuming that I won't have those points available before 8/31).

There may be nothing in the contract, perhaps, but to think that Disney could deny me access for 2-3 months and past the expiration of points I now own is a bit ridiculous. I've sent an email in and will try to call member services, but the more I think about this, the more I think it is ridiculous for me to have to just accept those points are lost when the only reason I cannot do anything with them is Disney is not ensure my contract is recorded and points loaded on their end. After all, they wrote the Estoppel. The deed is recorded. It's not as if they don't have record showing this is mine. They now have a written record with my request to transfer those 100 points expiring on 8/31 into RCI. We will see what becomes of this.

(To be clear, I'm pretty easy going. I went into this thinking I really wouldn't be able to do anything with the 100 points sitting in my 2019 UY. But I also figured when I put the offer in back in May that I'd at least get the points to transfer to RCI. Now I'm sitting here realizing I'm probably just SOL, and ultimately I'll accept that, but it DOES make me a little frustrated with Disney if they don't at least try to make this right as the fault is theirs.)

 

[MBTigger]

Time to move this from the ROFR Thread.....

Home: SSR
Broker: www.fidelityresales.com
Title Company: First American
Offer made: 06/06/2020
Offer accepted: 06/08/2020
Sent to ROFR: 06/12/2020
Passed ROFR: 07/23/2020
Closing docs received: 08/06/2020
Closing docs returned: 08/07/2020
Seller returned closing docs: ?
Closing: 9/5/2020
Deed recorded: 9/9/2020
Contract Showing on Membership:
Points in account:

 

[Sandisw]

There really should be.

I honestly would be fine with it taking a while, so long as Disney ensure I did not lose out because of *their* delay. I legally own this deed. It is closed and recorded. But I am going to lose value from my 2019 UY because Disney has not given me access to the deed I legally own in order to allow me to use the points banked into my 2019 UY (presuming that I won't have those points available before 8/31).

There may be nothing in the contract, perhaps, but to think that Disney could deny me access for 2-3 months and past the expiration of points I now own is a bit ridiculous. I've sent an email in and will try to call member services, but the more I think about this, the more I think it is ridiculous for me to have to just accept those points are lost when the only reason I cannot do anything with them is Disney is not ensure my contract is recorded and points loaded on their end. After all, they wrote the Estoppel. The deed is recorded. It's not as if they don't have record showing this is mine. They now have a written record with my request to transfer those 100 points expiring on 8/31 into RCI. We will see what becomes of this.

(To be clear, I'm pretty easy going. I went into this thinking I really wouldn't be able to do anything with the 100 points sitting in my 2019 UY. But I also figured when I put the offer in back in May that I'd at least get the points to transfer to RCI. Now I'm sitting here realizing I'm probably just SOL, and ultimately I'll accept that, but it DOES make me a little frustrated with Disney if they don't at least try to make this right as the fault is theirs.)

I do get it but given these extraordinarily times with things, it is a unique problem that has never happened. I have bought quite a few resale contracts and it has never taken more than a few weeks from closing to points in my account over the last 10 years.

Now that they seem to be moving a little faster, hopefully things are caught up soon!

 

[What-r-ya Goofy?]

There really should be.

I honestly would be fine with it taking a while, so long as Disney ensure I did not lose out because of *their* delay. I legally own this deed. It is closed and recorded. But I am going to lose value from my 2019 UY because Disney has not given me access to the deed I legally own in order to allow me to use the points banked into my 2019 UY (presuming that I won't have those points available before 8/31).

There may be nothing in the contract, perhaps, but to think that Disney could deny me access for 2-3 months and past the expiration of points I now own is a bit ridiculous. I've sent an email in and will try to call member services, but the more I think about this, the more I think it is ridiculous for me to have to just accept those points are lost when the only reason I cannot do anything with them is Disney is not ensure my contract is recorded and points loaded on their end. After all, they wrote the Estoppel. The deed is recorded. It's not as if they don't have record showing this is mine. They now have a written record with my request to transfer those 100 points expiring on 8/31 into RCI. We will see what becomes of this.

(To be clear, I'm pretty easy going. I went into this thinking I really wouldn't be able to do anything with the 100 points sitting in my 2019 UY. But I also figured when I put the offer in back in May that I'd at least get the points to transfer to RCI. Now I'm sitting here realizing I'm probably just SOL, and ultimately I'll accept that, but it DOES make me a little frustrated with Disney if they don't at least try to make this right as the fault is theirs.)

I agree with you Lorana. This is not right. It's one thing for work to get backed up due to high volume. Completely understandable. But to slash your workforce to a skeleton crew and make owners wait an unreasonable amount of time to complete simple administrative work is not justified or fair to dues paying members.

 

[Lorana]

I do get it but given these extraordinarily times with things, it is a unique problem that has never happened. I have bought quite a few resale contracts and it has never taken more than a few weeks from closing to points in my account over the last 10 years.

Now that they seem to be moving a little faster, hopefully things are caught up soon!

It is extraordinary. That's partly why I'm (mostly, I admit I'm impatient!) willing to wait, but I also think Disney should be trying to make the situation right for those people who will lose points due to their delays. Like I said, if it takes another month or so but they make sure I have those 100 points in RCI or extended in some way, I'm also fine, but I'd like them to make sure I'm not penalized because they are still not fully staffing this department. Given that their office is open, the resorts are open, and their employees who do this can work from home, the lack of staffing is *their choice* in keeping staffing numbers low, which means it's also on them that these delays are causing me to lose points.

I also have my 7 month window opening for a trip in mid-September, and I worry I'm going to miss that window, as the time it is taking for accounts to appear and points to deposit just seems to be longer and longer.

 

[Hopfather28]

I'm not anxious or impatient. I'm calm (especially considering I typically get fired up over things like this). However, I truly don't understand why the process even works this way. We're talking about points in a digitally managed database so there really is no excuse it takes any time past closing. When Disney waives ROFR it should be as easy as attaching an identifying contract number to said waiver. Closing occurs and title company forwards docs that include contract activation number. The redundancies that exist in this system are beyond ridiculous.

Again, I'm not upset with how long mine is taking. I understand that it always takes a while and now with pandemic issues it is even longer. I accept that. What I do question is why they use the process they use in the first place. It could be streamlined and even save them money in the long run.

 

[ZoneTEN]

Home: Beach Club Villas
Broker: www.dvcbyresale.com
Title Company: Jeffrey C. Sweet, Esquire
Offer made: 06/17/2020
Offer accepted: 06/17/2020
Sent to ROFR: 06/18/2020
Passed ROFR: 07/29/2020
Closing docs received: 08/04/2020
Closing docs returned: 08/05/2020
Seller returned closing docs: Unknown
Closing: 08/07/2020
Deed recorded: 08/07/2020
Contract Showing on Membership:
Points in account:

 

[sethschroeder]

I also think Disney should be trying to make the situation right for those people who will lose points due to their delays.

People should have had their points banked by the current owner.

I am sorry people are losing access to things but WDW wasn't even open when these contract were even offered on. They are getting faster it seems though so hopefully they can get it back down to a roughly a week to process by September.

If people are completely losing points because of a 30-45 day delay in points showing up then you were not allowing yourself enough time.

Disney needs to stop making exceptions in DVC. These are real estate transactions and there are contracts in place that need to be used and not ignored. If there is a way they can do something without impacting the terms of the contracts then go wild.

 

[Sandisw]

From now on, we are going to ask that people post the link to the broker and not just the name,

Sometimes the filter is updated and by posting the link, you can be sure the post...and all that info you typed, is not deleted! Thanks all!

 

[chicagoshannon]

I'm sitting here still waiting for closing docs. Others that passed after me already have theirs returned. GRR

 

[holyrita]

This is our first contract so for those of you in the same boat, here's what the timeline looks like for new members. The TLDR version is just shy of 16 weeks from start to finish.

Home: AKV
Broker: DVC Resale Market
Title Company: Magical Vacation Title LLC
Offer made: 4/21/2020
Offer accepted: 4/21/2020
Sent to ROFR: 4/22/2020
Passed ROFR: 5/13/2020
Deed recorded: 6/9/2020
Contract Showing on Membership: 7/18/2020
Points in account: 8/9/2020

As someone who is also a new member and had their contract submitted to ROFR only a week after yours, we are currently on week 15 with what would appear to be at least another 4 weeks for our membership and then maybe 2 more weeks for our points (21 weeks?)

 

[Sandisw]

As someone who is also a new member and had their contract submitted to ROFR only a week after yours, we are currently on week 15 with what would appear to be at least another 4 weeks for our membership and then maybe 2 more weeks for our points (21 weeks?)

It is more about when the deed is recorded than ROFR. So, I would figure 6 to 8 weeks from that date...though last Friday people who had deeds recorded 6/26 to 7/1 all had contracts show up the same day.

I am hoping this week we see the first week in July.

 

[Lorana]

People should have had their points banked by the current owner.

I am sorry people are losing access to things but WDW wasn't even open when these contract were even offered on. They are getting faster it seems though so hopefully they can get it back down to a roughly a week to process by September.

If people are completely losing points because of a 30-45 day delay in points showing up then you were not allowing yourself enough time.

Disney needs to stop making exceptions in DVC. These are real estate transactions and there are contracts in place that need to be used and not ignored. If there is a way they can do something without impacting the terms of the contracts then go wild.

First, given all the delays, I'd point out that it's actually impossible for many of us to have "given ourselves more time," because the time it was taking to close and get points was significantly different a few months ago. At the time I made this offer, I was giving them 3+ months, and at the time, that WAS plenty of time to get through the process, because all my prior resale contracts took less than 50 days from offer to points in my account.

As I noted above, these were 2018 points banked into 2019. I cannot bank them further. My new 2019 points were banked into 2020.

I made the offer on this contract in May; that should have been plenty of time for this process, since it was a 100+ day window I gave them. If I - and everyone, I'm sure - had known then what we know now about how long Disney was going to be dragging out this process, I would have asked them to put those points into RCI for me. However, I had thought, back in May, that I could use those points to take a trip to Disney in August for my anniversary, since prior experience had indicated that would be the case.

This isn't asking Disney to make an *exception.* When the deed was recorded and the transfer closed (on 7/28), I am now the legal owner of this contract and those points -- except I have no access to them to do anything with the points that I now own. So I'm not asking for an exception. I sent Disney a request of what I'd like done with the points set to expire on 8/31, and what I'm hoping they do will honor that request since they are directly responsible for the delay in me gaining access to my points.

 

[LadybugsMum]

I'm sitting here still waiting for closing docs. Others that passed after me already have theirs returned. GRR

I haven't gotten mine either. I'm going to email the broker on Weds if they haven't shown up by then.

 

[Sandisw]

First, given all the delays, I'd point out that it's actually impossible for many of us to have "given ourselves more time," because the time it was taking to close and get points was significantly different a few months ago. At the time I made this offer, I was giving them 3+ months, and at the time, that WAS plenty of time to get through the process, because all my prior resale contracts took less than 50 days from offer to points in my account.

As I noted above, these were 2018 points banked into 2019. I cannot bank them further. My new 2019 points were banked into 2020.

I made the offer on this contract in May; that should have been plenty of time for this process, since it was a 100+ day window I gave them. If I - and everyone, I'm sure - had known then what we know now about how long Disney was going to be dragging out this process, I would have asked them to put those points into RCI for me. However, I had thought, back in May, that I could use those points to take a trip to Disney in August for my anniversary, since prior experience had indicated that would be the case.

This isn't asking Disney to make an *exception.* When the deed was recorded and the transfer closed (on 7/28), I am now the legal owner of this contract and those points -- except I have no access to them to do anything with the points that I now own. So I'm not asking for an exception. I sent Disney a request of what I'd like done with the points set to expire on 8/31, and what I'm hoping they do will honor that request since they are directly responsible for the delay in me gaining access to my points.

Sorry, but I guess I am confused why you feel they are way behind in your case for the transfer as It’s not even been 2 weeks since you just closed 7/28?

Normal time is at least 2 to 3 weeks from deed recording to have the points in the account.