How long to wait for your money

[Jools2]

We used resalesDVC as recommended by several people on here to sell a DVC contract.

We closed on Tuesday just gone but are still waiting for our money. We've now been told it's likely not to arrive until next week. I was expecting it to be wired the day we closed, but when we chased them they said it was only sent yesterday (funnily enough just before we rang them).

Should I be worried about why it's taking so long?

All of you who have sold contracts how long did you wait after closing before you got your money?

[BarryandCaron]

Ours was five days but there was a delay because I hadn’t given them the BIC number required by Nationwide. That was over weekend too.

[KarenG]

If you only closed on Tuesday I think you’re worrying too soon.

[lov2dibb]

My recent sale with them took 4 days from closing to the money arriving in my account. I don't think you need to worry yet.

[YorkshireT]

They are real estate agents- much more heavily regulated in the US and the people with your money is actually the closing agent. Who was the closing agent? It will be in escrow.

[gavvy]

Agree the money will be in escrow and very safe. It may take a few days more but the money won't go missing! I would contact the closing agent Monday and ask.

[Jools2]

I'm sure you're all right guys and thank you for the reassurance.

No title company involved, the sale has been dealt with by a solicitors called Sweet Law. We were handed over to these people by resaleDVC once we got an offer. Other than put our points up for sale on their resales website they have done little else. All the solitons tell us when we contact them is that they have wired it.

Fingers crossed it arrives Monday.

[YorkshireT]

Originally Posted by Jools2

I'm sure you're all right guys and thank you for the reassurance.

No title company involved, the sale has been dealt with by a solicitors called Sweet Law. We were handed over to these people by resaleDVC once we got an offer. Other than put our points up for sale on their resales website they have done little else. All the solitons tell us when we contact them is that they have wired it.

Fingers crossed it arrives Monday.

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Yes the lawyers are dealing with the title. Usually it’s a title company but this guy does do the titles too- even less reason to worry as it’ll be in his client account. He has a good reputation.
The resale agent literally just sells it.

[fudgie]

Originally Posted by Jools2

I'm sure you're all right guys and thank you for the reassurance.

No title company involved, the sale has been dealt with by a solicitors called Sweet Law. We were handed over to these people by resaleDVC once we got an offer. Other than put our points up for sale on their resales website they have done little else. All the solitons tell us when we contact them is that they have wired it.

Fingers crossed it arrives Monday.

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We received our proceeds by bank transfer and the money was in our UK bank account the day after closing. We sold our contract through DVC Resale Market and they used a title company (Magic Vacation Title).

[crux]

I think ours took 4 days to surface in our UK bank, which was around the time I was expecting as a maximum. it may be 2020 but some of the banking systems are not even of this century! Weekends and end of day processing meant that our Friday closure and financial transfer didn't show in our account until Monday evening.