Closing Time!

[Vandymit]

I’m using Magic Vacation Title and I’m starting to regret it. It’s been over two weeks since I passed ROFR and I still haven’t received anything from them. I’ve emailed my closing agent 3 times for an update with no response. Has anyone experienced this kind of bad service before? I see people on here that have got their closing documents in less that four days. I’m like 16/17 days.

They contacted me today. My original closing agent is no longer with the company. Good thing I emailed the admin. Documents should arrive tomorrow. Not thrilled with the service but I understand. Ready to move forward.

 

[pianomanzano]

For those using Magic Vacation Title, can you share how long you've waited to get closing docs? It's only been 2 days for me, but reading some of the most recent posts I'm not sure if it's a one-off thing to wait awhile for them. I wish we chose Cammy/Mason Title instead!

 

[bdoleary]

I have a question for those of you who have purchased loaded contracts. Our contract came with a clause that stated the following for us we are expecting the 2021 points to be fulling banked for our Aug use year contract. In the clause it states the following:

"IF THERE ARE LESS POINTS THAN WHAT IS STATED IN THIS CLAUSE AT TIME OF TRANSFER, THERE WILL BE AN $20 PER POINT COMPENSATION FROM SELLER TO BUYER OR BUYER MAY CANCEL THE CONTRACT. "

In the closing docs we just received, I'm not seeing how or when the clause would get enforced as it doesn't seem the escrow service waits for the buyers to confirm the number of points received prior to releasing funds to the seller nor if it is that late indicate how the cancelling the contract would happen.

I'm curious how this gets handled. Is there any sage wisdom from the DISboards to share?

Thank you all so much

We closed recently and the transfer agent asked me to confirm once the point transfer was complete. They stated the funds would not be released to the seller until the point transfer was confirmed.

 

[SpotMonkey]

For those using Magic Vacation Title, can you share how long you've waited to get closing docs? It's only been 2 days for me, but reading some of the most recent posts I'm not sure if it's a one-off thing to wait awhile for them. I wish we chose Cammy/Mason Title instead!

I didn't hear anything for two weeks and got antsy. I totally understood that they give a 21-business-day time frame, but there's always a fear that something has fallen through the cracks when you go weeks without hearing anything. So, I reached out to my closing agent, who got in touch with the title company, and I got my documents a day and a half later. After that, things happened fast on all sides. The deed was recorded yesterday, 5 days after we got the documents. I wouldn't hesitate to use them again. Super easy process and very quick responses once documents were in hand.

 

[SpaceshipEarth516]

Home Resort: AK
Broker: DVC Resale Market
Title Company: Magic Vacation Title
Offer made: 02/07/2022
Offer accepted: 02/07/2022
Sent to ROFR: 02/08/2022
Passed ROFR: 03/01/2022
Closing docs received:3/01/2022
Closing docs returned:3/09/2022
Closing:3/10/2022
Deed recorded:3/14/2022
Contract Showing on Membership (new member):
Points in account:

Our deed was recorded on 3/14 as well. Have you received your membership email from DVC yet? Based on recent lead times, it seems as though we should hear soon.

 

[John Gry]

Our deed was recorded on 3/14 as well. Have you received your membership email from DVC yet? Based on recent lead times, it seems as though we should hear soon.

Our AKV was also deeded on 3/14. We have not heard anything from Membership Administration yet.
Our CCV was deeded on 3/9 and we received our membership on 3/27. For CCV we have not received points into the membership as of yet.

 

[potlicker81]

For those using Magic Vacation Title, can you share how long you've waited to get closing docs? It's only been 2 days for me, but reading some of the most recent posts I'm not sure if it's a one-off thing to wait awhile for them. I wish we chose Cammy/Mason Title instead!

I used magic vacation title, we passed ROFR 2/28 and didn't get my closing docs until 3/9. Not too bad, thankfully less than the 21 days they say it could be

 

[essyg]

Our deed was recorded on 3/14 as well. Have you received your membership email from DVC yet? Based on recent lead times, it seems as though we should hear soon.

Not yet- but I am checking my email hourly, hoping soon!

 

[pianomanzano]

I used magic vacation title, we passed ROFR 2/28 and didn't get my closing docs until 3/9. Not too bad, thankfully less than the 21 days they say it could be

Oof, I wonder what takes them so long. Mason (Cammy) got my our closing docs the next day after we heard from ROFR. If/when we do resale again, I'll request them.

 

[essyg]

Not yet- but I am checking my email hourly, hoping soon!

Update: just got my activation code, waiting on my membership number

 

[Baileygina]

Update: just got my activation code, waiting on my membership number

Yahoo!!

 

[Baileygina]

For those using Magic Vacation Title, can you share how long you've waited to get closing docs? It's only been 2 days for me, but reading some of the most recent posts I'm not sure if it's a one-off thing to wait awhile for them. I wish we chose Cammy/Mason Title instead!

We got ours the next day, but now we are in week 2 waiting for the sellers to get to a notary

 

[potlicker81]

Oof, I wonder what takes them so long. Mason (Cammy) got my our closing docs the next day after we heard from ROFR. If/when we do resale again, I'll request them.

That's what was killing me, I kept seeing other people post that they got their closing docs that day or the next from mason and I waited what seemed like forever. Although now people are saying it's taking weeks to get theirs so now I don't feel so bad. I won't complain over my 9 days

 

[potlicker81]

If you are an existing member just adding points with same use year and all, do you get an email or anything telling you the contract has been added to your account or do you just have to keep checking?

 

[LadybugsMum]

If you are an existing member just adding points with same use year and all, do you get an email or anything telling you the contract has been added to your account or do you just have to keep checking?

Once I got an email and nothing for the other 2 even though it was a new membership.

 

[snowy82]

We got ours the next day, but now we are in week 2 waiting for the sellers to get to a notary

we're in the same boat. let's commiserate together.

i keep bugging my closing agent and even asked my broker (who hasn't responded yet). i know i'm annoying, but i'm having nightmares that the seller changed his mind last minute!!

 

[Baileygina]

we're in the same boat. let's commiserate together.

i keep bugging my closing agent and even asked my broker (who hasn't responded yet). i know i'm annoying, but i'm having nightmares that the seller changed his mind last minute!!

Yes we are. I was scolded by my broker for asking them to let the seller know we wanted to do a quick closing (if possible) because of 407 expiring points - losing those points would greatly devalue the contract. Things were moving perfectly for us to get our points in time to book a family Thanksgiving vacation, but now that is likely out of reach. I'm super frustrated and wondering if I can cancel and just buy direct. I don't appreciate being told that we shouldn't "rush" the sellers - it's been almost 2 weeks - because I simply asked them to let them know the reasons we were hoping for a quick closing. Rant over...

 

[Baileygina]

I thought I was done with the agonizing waiting once I passed rofr but it will be two weeks on Wednesday since we received closing docs and the seller still hasn’t returned them. I know I’ll have to wait for Disney to create and load my membership but this feels painful because I don’t have any guidance at all as to when the seller will do his part!!

Maybe we have the same seller - lol~

 

[pianomanzano]

Yes we are. I was scolded by my broker for asking them to let the seller know we wanted to do a quick closing (if possible) because of 407 expiring points - losing those points would greatly devalue the contract. Things were moving perfectly for us to get our points in time to book a family Thanksgiving vacation, but now that is likely out of reach. I'm super frustrated and wondering if I can cancel and just buy direct. I don't appreciate being told that we shouldn't "rush" the sellers - it's been almost 2 weeks - because I simply asked them to let them know the reasons we were hoping for a quick closing. Rant over...

That's ridiculous for a broker to scold you, that'd make me not want to do business with them in the future! If there are circumstances such as an international seller or old age/recent death, etc., I think it's understandable (to a certain extent), but beyond that and being rude on top is just unacceptable.

Are any of the points bankable? If possible I'd ask the broker to get the seller to bank any points that can be banked if they're going to take a long time. Don't lose hope though! Our first contract had 114 points expiring within 45 days of account opening and we were able to book a 2BR at SSR and bring grandparents down for our daughter's first birthday.

 

[Sandisw]

Yes we are. I was scolded by my broker for asking them to let the seller know we wanted to do a quick closing (if possible) because of 407 expiring points - losing those points would greatly devalue the contract. Things were moving perfectly for us to get our points in time to book a family Thanksgiving vacation, but now that is likely out of reach. I'm super frustrated and wondering if I can cancel and just buy direct. I don't appreciate being told that we shouldn't "rush" the sellers - it's been almost 2 weeks - because I simply asked them to let them know the reasons we were hoping for a quick closing. Rant over...

Once the official closing date passes, you can cancel the sale and get back your deposit.