Buying or selling your Disney Vacation Club (DVC) contract can feel a little like navigating through a Disney Park without a map. It is exciting but also a bit overwhelming. But don't worry at DVC Title and Escrow our team of experts will guide you through the closing process, ensuring there are no unnecessary delays and that every detail of your closing is handled with precision and care. We have streamlined the traditional closing process with advanced e-closing technology and remote online notary services, so you can enjoy a more convenient and efficient closing process from the comfort of your home. Our goal is to make the journey straightforward and stress-free, so you can navigate the complexities of buying or selling your Disney Vacation Club contract with confidence.
How Long Will it Take to Close My DVC Contract:
On average, the closing process takes about 4 - 8 weeks, starting from the completion of your purchase agreement and ending when your points are loaded onto your DVC Account. The longest part of the closing process is waiting to receive Disney's Right of First Refusal (ROFR) waiver, which can take up to 30 days. After the ROFR waiver is received, the timeline largely depends on how quickly the buyers and sellers return their signed documents and funds. Once we have all documents and funds in hand, we can typically close in as little as a week.
Step 1: Opening the File (Day 1)
The process begins with the buyer and seller submitting the signed Purchase Agreement. Once received, we will open the file and assign it to one of our expert escrow officers, Cammy Smith or Marcelo Angulo. Your escrow officer will be your point of contact and will guide you throughout the closing process. Both parties will then receive a Welcome Email that includes all key transaction details and an outline of the next steps. This ensures that everyone is on the same page and sets the foundation for a smooth closing process.
Step 2: ROFR : Disney's Review Process (Weeks 1 - 4)
After opening the file and ensuring all information received from the broker is correct, we submit the contract to Disney for their Right of First Refusal (ROFR) review. This is a standard process that gives Disney the right to step in and purchase the contract themselves under the same terms and conditions that the buyer and seller originally agreed upon. The good news? Disney usually lets the sale proceed, with ROFR being waived about 95% of the time. The timeline for this step is largely dependent on Disney's review process, which typically takes 30 days. While we have no control over Disney's timeline, delays can occur during peak periods, holidays, or if there are backlogs in their system. Although this is often the longest part of the closing process, our team will keep you updated with timely email updates, so you are not left wondering about the status of your contract.
Step 3: Estoppel and Title Search: Verifying the Details (Weeks 4 - 5)
While waiting for Disney's ROFR decision, we move forward by conducting a thorough title search and examination. This ensures the property is free of any liens, encumbrances, or other ownership issues that could affect the transfer.
Once Disney waives ROFR, we receive the estoppel certificate. This document verifies all the details of your contract, such as the current status of dues, points, and ownership details. This step ensures there are no discrepancies or outstanding obligations tied to the contract before closing. We like to think of this as the safety check before getting on your favorite ride.
Step 4: Closing Documents (Weeks 4 - 6)
Once we receive the estoppel, we will prepare the closing documents and send them to both the buyer and seller via email. These documents include: the deed of transfer, the settlement statement, closing instructions and escrow agreement, seller's proceeds letter, and instructions for wiring/ transferring funds. To simplify the signing process, you can use our Remote Online Notary Service to sign and notarize your documents from the comfort of your home. This service not only makes the process easier but also ensures that all documents are properly signed to help prevent any mistakes or errors that could delay the closing process. It is important to note that the timeline after this stage is dependent on how quickly both parties return their signed documents and submit final funds to us. With quick responses from both parties, we can typically close in under a week.
Step 5: Closing the Contract (Week 6 - 8)
At this stage, signatures, funds, and final approvals are all collected to officially close the contract. We have made this easy and convenient by having everything handled virtually, so you can close from anywhere! In this step, the deed is officially recorded, making the transfer of ownership legal and binding. This can take up to 72 hours (excluding weekends and holidays). Once completed, you will receive a confirmation email from your escrow officer that the contract has closed. Sellers will receive their proceeds via wire or check, marking the end of their DVC journey, or maybe the start of a new one! After the deed is recorded, we send it to Disney to begin the ownership transfer.
Step 6: Ownership Transfer Complete: Welcome Home
After closing, Disney works their magic to update their records and transfer ownership. While it takes Disney around 2 - 4 weeks after recording to load your new points onto your account, it is well worth the wait! Once completed, the new owner receives a "Welcome Home" email with their activation code to set up their DVC account. If the buyer is a current member, the new points will appear on their dashboard, ready to be used for their next trip!
Why Choose DVC Title & Escrow:
Now that you have seen the closing process, it is time to sit back and let us work our magic! Navigating the complexities of DVC resale can feel overwhelming, but at DVC Title & Escrow we specialize in making the process effortless and hassle-free. From handling Disney's Right of First Refusal (ROFR) to finalizing the ownership transfer, our expert team and advanced technology handles every detail with precision and care. We take pride in delivering fast, seamless closings so you can focus on what truly matters, creating magical moments at your Disney Vacation Club resort!
Let us handle the details while you enjoy the magic and excitement of your new journey! Contact us today to get started! Call us at (678) 400-9207 or email us at hello@dvcclosings.com. We're here to help every step of the way!
