DVC Resale Closing Steps After Disney Approval

After Disney waives their Right of First Refusal on your DVC resale contract, the transaction enters the closing phase where ownership officially transfers from seller to buyer. Understanding the steps involved in this final phase helps ensure smooth completion and timely access to your new DVC membership.

Receiving ROFR Waiver Notification

The closing process begins when you receive notification that Disney has waived their Right of First Refusal. This notification typically comes through your resale broker within the 30-day ROFR review period. Once Disney waives, the transaction can proceed to closing without risk of Disney purchasing the contract at your agreed price.

Your broker will communicate next steps and introduce you to the title company handling your closing. This transition marks the shift from waiting mode to active transaction completion requiring timely responses to documentation requests.

Title Company Assignment

A title company specializing in timeshare transactions handles DVC resale closings. These companies understand the unique aspects of DVC ownership transfers and maintain established processes with Disney's ownership recording systems. Your broker typically works with specific title companies based on efficiency and reliability track records.

The title company contacts both buyer and seller to coordinate closing activities. They serve as neutral third parties ensuring proper documentation, fund handling, and ownership transfer according to legal requirements and contract terms.

Role of the Title Company

The title company acts as an intermediary, ensuring that all legal and financial requirements are met before the transfer of ownership. They perform a title search to confirm the seller's right to sell the property and to ensure there are no liens or encumbrances. This step is crucial to protect the buyer's interests.

Receiving Closing Documents

The title company prepares and sends closing documents requiring your signature and often notarization. For buyers, these typically include the deed, closing statement, ownership affidavits, and various disclosures. Review all documents carefully to ensure accuracy in names, addresses, and ownership details.

Document delivery methods vary by title company. Many now offer electronic document platforms enabling online review and signature, while some still require physical document handling. Confirm delivery method and timeline expectations with your title company contact.

Importance of Accurate Documentation

Accuracy in documentation is critical. Errors can cause delays or legal issues. If you notice discrepancies, contact your broker or title company immediately for clarification or correction. This proactive approach can prevent potential problems down the line.

Understanding the Closing Statement

The closing statement details all financial aspects of your transaction. This includes the purchase price, prorated annual dues, closing costs, and any credits or adjustments. Review this statement carefully to verify amounts match your understanding from the purchase agreement.

Common buyer costs include title insurance, deed preparation, recording fees, and closing agent fees. These typically total $500-$1,000 depending on contract value and specific circumstances. Any prorated dues from the current year may also appear as buyer obligations.

Financial Transparency

Transparency in financial dealings is crucial. Ensure you understand each line item on the closing statement. If you have questions about any charges, don't hesitate to ask your broker or title company for clarification. This understanding helps avoid surprises and ensures a smooth transaction.

Completing Document Signatures

Sign all required documents according to title company instructions. Many documents require notarization, meaning you must sign in the presence of a notary public who verifies your identity and witnesses your signature. Banks, shipping stores, and mobile notary services provide notarization.

Return completed documents promptly to avoid closing delays. Title companies typically provide return instructions including deadlines and preferred shipping methods. Express shipping is often recommended to ensure timely document receipt.

Submitting Final Payment

The title company provides wire transfer instructions for your final payment, which includes the purchase balance minus any earnest money already deposited, plus closing costs and prorated amounts. Verify wire instructions through callback confirmation to protect against wire fraud schemes targeting real estate transactions.

Most closings require wire transfers rather than checks due to speed and security considerations. Initiate your wire transfer promptly after receiving verified instructions, as closings cannot complete until funds are received and cleared.

Wire Transfer Security

Wire transfer fraud is a significant concern in real estate transactions. Always verify wire instructions directly with the title company using a known contact number. This extra step helps protect against fraudulent schemes and ensures your funds reach the correct destination.

Seller Document Completion

Sellers must also complete their closing documents and return them to the title company. Sometimes buyer documents are completed before seller documents arrive, creating brief waiting periods. The transaction cannot finalize until both parties have completed all required documentation.

Your broker can provide status updates on seller document progress if you experience delays. Most sellers complete documents within the same timeframe as buyers, but occasional delays occur due to travel, illness, or other circumstances.

Deed Recording and Transfer

Once both parties have completed documents and funds have cleared, the title company submits the new deed to Orange County Florida for recording. This recording officially transfers ownership in public records. Recording typically occurs within a few business days of document completion.

The title company notifies parties when recording completes and provides copies of recorded documents. This notification confirms your ownership is officially registered and the transaction is complete from a legal standpoint.

Disney Membership Setup

Following deed recording, Disney receives notification of the ownership transfer and begins setting up your membership account. This process typically takes one to two weeks after recording. Disney contacts new members with account access information and member number assignment.

Once your membership activates, you can access the Disney Vacation Club member website, view your point allocation, and begin making reservations according to booking windows and availability. Your DVC ownership journey is officially complete.

Closing Timeline Overview

From ROFR waiver to active membership typically takes 2-4 weeks depending on document completion efficiency, wire transfer timing, and Disney's membership processing queue. Prompt response to all requests helps minimize timeline duration and gets you booking vacations sooner.

Understanding each step of the closing process and maintaining open communication with your broker and title company can significantly streamline your DVC resale experience. By staying informed and proactive, you ensure a smooth transition into your new role as a Disney Vacation Club member.