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-   -   HH purchase through Fidelity (http://www.disboards.com/showthread.php?t=3189941)

busybethie 10-22-2013 08:43 PM

HH purchase through Fidelity
 
HI. I am concerning purchasing a HH property through Fidelity. Part of their closing costs include a policy for title insurance and lawyer fees. The timeshare store does not require this policy.

Is it possible to opt out of this policy? How anyone done this? The policy is about $400.

Thank you.

Beth

JimMIA 10-23-2013 06:53 AM

IMHO, there is no need for a title search (if that's what the "lawyer fees" are) or title insurance. I've never had it on any of the timeshare contracts I've owned.

Timeshare contracts are not like traditional real estate ownership where a title could be clouded by some legal issue years ago. The timeshare company created the contract and verified/renewed the contract at each resale, so there is no question about who owns what.

At the end of the process, Disney will be setting up your account and they will be the ones depositing points into the account and managing all the transactions. If there is some discrepancy between what you think you purchased and Disney's records, Disney will make the necessary corrections.

There are sometimes discrepancies (particularly with Fidelity, it seems), but if there are, you will be able to either resolve them with Fidelity and the seller or simply walk away from the purchase with all monies refunded.

CarolMN 10-23-2013 06:15 PM

I believe South Carolina state laws require closings to be handled by an attorney.

rwcmath 10-24-2013 01:03 PM

Quote:

Originally Posted by CarolMN (Post 49907861)
I believe South Carolina state laws require closings to be handled by an attorney.

I think so, but we also did use Fidelity for our HHI purchase.


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