Closing Time!!

[Nurse4kids]

What is estoppel and how long does that usually take?

 

[Somnia]

What is estoppel and how long does that usually take?

estoppel is when they send the information to make sure the point count, etc, is all legit. It doesn't take too long usually, but some title companies take awhile it seems like.

 

[minorthr]

Finally done. Took almost two and a half
Months. Seller was responsible for pretty much three weeks of that with being slow to return paperwork.

Home: OKW (E)
Offer made: 7/28
Offer countered & accepted: 7/28
Sent to ROFR: 8/7 Seller was slow to return contract
Passed ROFR: 8/21
Closing docs received: 9/7/17
Closing docs sent back: 9/7/17
Closing:10/6/17 (scheduled for 9/22/17 seller was slow to return, then sent wrong docs and was missing docs)
Deed recorded:10/9/17
Points in my account: 10/16/17

 

[Almondmilktea]

Here is my completed timeline. It took about 2.5 months with Disney taking their sweet time deciding on ROFR. Just made my first reservation at Aulani for June 2018!!

Aulani 200 points
The Timeshare Store
First American Title

Offer made and accepted: 7/27
Documents rec'd and returned: 7/28
Sent to ROFR: 7/28
Passed ROFR: 8/28
Closing docs rec'd: 9/12
Both docs confirmed arrived by FA: 9/16
Closed: 9/22
Deed Recorded: 9/26
Documents rec'd by Disney: 9/28
Welcome letter received: 10/13

 

[Lindsay's4littles]

I called MA again today to check if our member ID was ready. Yesterday I got an extremely helpful and cheery cast member but today was a little different. She still looked to see if we were in the system (still were not) but told me I should wait for all of my information to come in the mail!

Ok lady here is the problem with that... I have been waiting 65 days to complete this process and each day that ticks by is making me more and more of a lunatic so please for the love of Mickey don't tell me I should wait until I get my member id in the mail

 

[Somnia]

I called MA again today to check if our member ID was ready. Yesterday I got an extremely helpful and cheery cast member but today was a little different. She still looked to see if we were in the system (still were not) but told me I should wait for all of my information to come in the mail!

Ok lady here is the problem with that... I have been waiting 65 days to complete this process and each day that ticks by is making me more and more of a lunatic so please for the love of Mickey don't tell me I should wait until I get my member id in the mail

Did you talk to someone from Admin or Services? They're two different departments so maybe you got Services this time?

 

[Lindsay's4littles]

Did you talk to someone from Admin or Services? They're two different departments so maybe you got Services this time?

I'm not sure I hit 2 when promoted. I wil have to pay closer attention to what they say when I call next time

 

[minorthr]

I'm not sure I hit 2 when promoted. I wil have to pay closer attention to what they say when I call next time

I did that yesterday as well and still got transferred to Services who then transferred me to Admin.

 

[Somnia]

I'm not sure I hit 2 when promoted. I wil have to pay closer attention to what they say when I call next time

Your best bet is if you call and you get transferred to services is to be asked to be transferred to admin, services is very hit or miss on getting your account information from what I've gathered.

 

[Traci315]

I called MA again today to check if our member ID was ready. Yesterday I got an extremely helpful and cheery cast member but today was a little different. She still looked to see if we were in the system (still were not) but told me I should wait for all of my information to come in the mail!

Ok lady here is the problem with that... I have been waiting 65 days to complete this process and each day that ticks by is making me more and more of a lunatic so please for the love of Mickey don't tell me I should wait until I get my member id in the mail

I'm glad you called again! It's saving me from doing the same. Once I see you update that you got yours I'm calling for mine!

 

[hungrydonut]

8/24 Offer accepted
8/26 Contract signed and sent to broker
8/30Sent to ROFR
9/8 Passed ROFR
9/22 Closing docs received
9/27 Closing docs returned by buyer (me)
10/10 Sale Closed
10/11 Deed recorded by the county

So here's my timeline. Our contract finally closed on the 10th. I Couldn't wait any longer so I called member services today and actually was able to get my account # and activation code. BUT since this is our very first contract, I didn't know you needed a Club id #. Does anyone else have this problem?

 

[Nurse4kids]

estoppel is when they send the information to make sure the point count, etc, is all legit. It doesn't take too long usually, but some title companies take awhile it seems like.

It has been two weeks in the estoppel phase. What will happen next? Will I get papers sent to me to sign or if there is a problem with estoppel will it cancel the sale?

 

[Moore144]

8/24 Offer accepted
8/26 Contract signed and sent to broker
8/30Sent to ROFR
9/8 Passed ROFR
9/22 Closing docs received
9/27 Closing docs returned by buyer (me)
10/10 Sale Closed
10/11 Deed recorded by the county

So here's my timeline. Our contract finally closed on the 10th. I Couldn't wait any longer so I called member services today and actually was able to get my account # and activation code. BUT since this is our very first contract, I didn't know you needed a Club id #. Does anyone else have this problem?

They gave me my club ID along with all the other info when I called. That's what you need to actually login. I'd just call back.

 

[Moore144]

It has been two weeks in the estoppel phase. What will happen next? Will I get papers sent to me to sign or if there is a problem with estoppel will it cancel the sale?

You should be getting closing papers next.

 

[1momof3boys3]

8/24 Offer accepted
8/26 Contract signed and sent to broker
8/30Sent to ROFR
9/8 Passed ROFR
9/22 Closing docs received
9/27 Closing docs returned by buyer (me)
10/10 Sale Closed
10/11 Deed recorded by the county

So here's my timeline. Our contract finally closed on the 10th. I Couldn't wait any longer so I called member services today and actually was able to get my account # and activation code. BUT since this is our very first contract, I didn't know you needed a Club id #. Does anyone else have this problem?

Sounds like you might have been routed to Member Services. I would call back and ask if I reached Member Administration. All you should need is the contract number and sellers' names.
Congratulations!!

 

[Bing Showei]

It has been two weeks in the estoppel phase. What will happen next? Will I get papers sent to me to sign or if there is a problem with estoppel will it cancel the sale?

What happens next are the five stages of Resale (Part I).

1-Denial - "But I passed ROFR two weeks ago, surely the title company is not just sitting on it."
2-Anger - "OK, it's been three weeks and no one has told me anything. Every time I reach out they friggin' tell me I'm still within my contractual closing time. I hate these people!"
3-Bargaining - "Maybe if I email the broker kindly to ask why the title company hasn't processed my closing documents, they'll be on my side through this!"
4-Depression - "I'm never going to close on this God-forsaken resale contract. I should've bought at CCV direct."
5-Acceptance - "I GOT MY CLOSING DOCS TODAY! WOO HOO!"

And then comes the five stages of Resale (Part II), when you wait for the seller to send back closing docs or the title company to file with the Orange County Comptroller's Office and notify Disney. Rinse and repeat, replacing "ROFR" with "CLOSING" and "CLOSING" with "POINTS."

 

[Bing Showei]

Will I get papers sent to me to sign or if there is a problem with estoppel will it cancel the sale?

If there is a problem discovered in estoppel, it would likely mean an addendum would be added to the contract to rectify any discrepancies between the state of the account and what was represented in the contract. An example would be if banked or current year points that were supposed to be there aren't. Some contracts will pre-assign a value to those lost points and that would be remedied that way. Other contracts would require the title company to reach out to Disney to figure out if the contract would need to go back through ROFR (if there were more points than were reported).

In your case, with a stripped contract, you have little to worry about in that regard, as not even the owner has access to the 2019 points.

 

[Traci315]

I'm not sure I've been this excited about anything in a VERY long time!

Timeline for 240 points @AKV through Resales DVC
8/30/2017 Offer submitted/countered/accepted
8/31/2017 Documents signed & returned, contract sent to ROFR
9/14/2017 Deposit received by title company
9/22/2017 Passed ROFR
9/25/2017 Received commitment to finance from Monera
9/27/2017 Received closing documents
10/5/2017 Returned closing documents and closing funds
10/9/2017 Closing documents returned by both parties to title company
10/10/2017 Final funding sent to title company from Monera
10/11/2017 Contract closed!
10/12/2017 Deed recorded on OCC site
10/18/2017 Called for member #, points in account!!!!!!!!!!!

 

[Steph01002]

8/1 Offer accepted
8/2 Contract signed and sent to broker
8/4 Sent to ROFR
8/16 Passed ROFR
9/18 Closing docs received
9/22 Closing docs returned by buyer (me)
10/16 Sale Closed
10/18 Deed recorded by the county

This was a delayed closing due to the sellers having a reservation earlier this month. Now we are at that last leg waiting to get into Disney's system! Yay!

 

[Traci315]

I'm not sure I've been this excited about anything in a VERY long time!

Timeline for 240 points @AKV through Resales DVC
8/30/2017 Offer submitted/countered/accepted
8/31/2017 Documents signed & returned, contract sent to ROFR
9/14/2017 Deposit received by title company
9/22/2017 Passed ROFR
9/25/2017 Received commitment to finance from Monera
9/27/2017 Received closing documents
10/5/2017 Returned closing documents and closing funds
10/9/2017 Closing documents returned by both parties to title company
10/10/2017 Final funding sent to title company from Monera
10/11/2017 Contract closed!
10/12/2017 Deed recorded on OCC site
10/18/2017 Called for member #, points in account!!!!!!!!!!!

I just checked my transactions and my points were loaded on 10/16/2017 so I probably could have called and gotten my information on Monday!