Buying resale through Fidelity Timeshares

[Matty B13]

Just wondering if anyone has bought through Fidelity Timeshares lately, and how was your experience?

 

[LAX]

Just wondering if anyone has bought through Fidelity Timeshares lately, and how was your experience?

Not an actual sale, but I did inquire about one of its listings while I was looking for a resale contract. One thing that was different about Fidelity was a $200 "doc fee" (or whatever it calls, I can't remember) that it charges the buyer (not seller). It's the only broker that I had come across that charges such fee. Thus, keep that in mind should you decide to make an offer.

LAX

 

[Matty B13]

Not an actual sale, but I did inquire about one of its listings while I was looking for a resale contract. One thing that was different about Fidelity was a $200 "doc fee" (or whatever it calls, I can't remember) that it charges the buyer (not seller). It's the only broker that I had come across that charges such fee. Thus, keep that in mind should you decide to make an offer.

LAX

Good to know, thanks

 

[Cyberc1978]

One advantage to fidelity is that they price their listings more realistically compared to other resellers which tend to price their listing imho way too high.


Regards

 

[Matty B13]

One advantage to fidelity is that they price their listings more realistically compared to other resellers which tend to price their listing imho way too high.


Regards

Yeah, their listings are a lot closer to the actual prices sent to ROFR, might not be as much negotiating on price with the sellers. I was wondering what the reasoning behind this was.

 

[Cyberc1978]

I had a talk with fidelity about that very subject, and according to them, they are 1 of 2 recommended brokers by Dvc, which gives them the edge of truly knowing the market. According to fidelity they sold over $100,000,000.00 in DVC resales, by far the most.

If that's really is true I don't know, but they tend to list the properties lower, leaving little space to negotiate which is good I think. IMHO The closer the listing price is to the actual sales price the better the job the agent has done pricing the contract.

Regards

 

[Matty B13]

I saw in another thread that Fidelity is Disney's resale agent for the contracts they don't want. I'm not sure if this means contracts in distress or if it is ones they already ROFD'd and can't sell direct.

 

[Ash10]

We are closing on a contract with them and my parents have one that is in ROFR with them right now. They are the lowest listing consistently but not much negotiation is encouraged. However, we did put an offer on our contract but the seller only agreed to paying '16 MF. Both of these contracts were sent via email list (prior to hitting website) and not listed on their site so you may have more negotiation room with those that made it to the site.

Closing is quoted at $525 plus an admin fee of $195 or $199, can remember. I'm not sure others have that admin fee. But, I'm finding total amount due is closer to $900 with fees from title company (deed recording, fed ex, etc). Again, not sure how the others work.

I have no real complaints and found their listing prices more enticing. I put lower offers in on other brokers and none were accepted. I'm not sure if Fidelity is still endorsed by DVD or if it just Vacatia now. The agent I'm working with knew the DVC guide I've also been in contact with (for potential 25 point direct add on) and enthusiastically complimented him (he's been there awhile).

 

[Ash10]

Also, our contracts have sellers not listed as Disney.

 

[Missyrose]

Also, our contracts have sellers not listed as Disney.

No, Disney doesn't resell contracts through Fidelity. Disney recommends Fidelity (or did, anyway) to owners who couldn't afford their contracts anymore.

 

[Matty B13]

Whenever I priced them out, their closing costs were 2x the other resale companies, which usually negated the cheaper price per point.

That would probably add $5 a point on a 100 point contract, thanks for the heads up

 

[KAT4DISNEY]

I saw in another thread that Fidelity is Disney's resale agent for the contracts they don't want. I'm not sure if this means contracts in distress or if it is ones they already ROFD'd and can't sell direct.

Whenever an owner contacts Disney about wanting or needing to sell then Disney has resellers they recommend. For years that was only Fidelity although it seems like they have added one other.

Disney does not have a program where they buy back contracts themselves, unless it is a foreclosure scenario.

 

[suebeelin]

Bought from fidelity twice. My brother bought from them once.

Once in 2011. Market price. Not a bad deal not a great deal. They weren't communicative, which was frustrating, but I got my contract.

Bought again in late 2014/closed in 2015. Took into consideration their $195 admin fee. Lowballed. No response for two weeks. Seller accepted price offered. Was shocked. Again, hard to reach fidelity. Was scared the sellers would back out (the deal was that good). Long story short, finally closed.

My brother just bought from fidelity. Again, a decent deal. International sellers. They couldn't close for over a year bc of notary and estate issues. My brother wasn't giving up bc the price skyrocketed within that year. They finally closed in April of this year.

They are legit. They will negotiate. They aren't that great at communicating.

 

[CMNJ]

That would probably add $5 a point on a 100 point contract, thanks for the heads up

I was going to ask how big a contract you were looking at-because the higher closing fees and $195 administrative fee really jacks up the price per point on small contracts. Of course if it is that much lower to start if still might be a deal.

 

[Matty B13]

I was going to ask how big a contract you were looking at-because the higher closing fees and $195 administrative fee really jacks up the price per point on small contracts. Of course if it is that much lower to start if still might be a deal.

We are looking for AKL, SSR, or a really cheap HHH contract in the 100-130 point range, but if the fees are crazy then we will have to really look at the total price.

 

[Missyrose]

We are looking for AKL, SSR, or a really cheap HHH contract in the 100-130 point range, but if the fees are crazy then we will have to really look at the total price.

I would price out the MFs on HHI. The point costs can seem cheap but the higher MFs eat up that savings quickly.

 

[Gordonk74]

HI Everyone. I am in ROFR stage right now with Fidelity/Disney. I saw a contract last week an put a bid in. Lowballed. I received a phone call by an agent within 2 hours asking a few questions about what I was looking for overall. She stated she had some other contracts not posted yet. Told me a few and I find one that fit our needs. 170 points at a good price. 525 closing cost plus 195 fee. The owners asked for half of the MF for 2016, but gave us full points. The owners live in england so it took a little time for communication. I agreed to the price with no negotiation because the Price per point was very good. Had the contracts the next day and signed. Went to Disney the day after and received plenty of communications so far. No just waiting on Disney. I understand the 195 fee can add to the cost, but there prices were more realistic and was very happy with my overall cost per point. Hoping for Disney to approve. So far have been very happy with Fidelity. Fast and friendly. Have not heard about any other fees from Fidelity.
Hope this helps. Any questions give me a shout
Kyle

 

[APiratesLifeForMe2]

HI Everyone. I am in ROFR stage right now with Fidelity/Disney. I saw a contract last week an put a bid in. Lowballed. I received a phone call by an agent within 2 hours asking a few questions about what I was looking for overall. She stated she had some other contracts not posted yet. Told me a few and I find one that fit our needs. 170 points at a good price. 525 closing cost plus 195 fee. The owners asked for half of the MF for 2016, but gave us full points. The owners live in england so it took a little time for communication. I agreed to the price with no negotiation because the Price per point was very good. Had the contracts the next day and signed. Went to Disney the day after and received plenty of communications so far. No just waiting on Disney. I understand the 195 fee can add to the cost, but there prices were more realistic and was very happy with my overall cost per point. Hoping for Disney to approve. So far have been very happy with Fidelity. Fast and friendly. Have not heard about any other fees from Fidelity.
Hope this helps. Any questions give me a shout
Kyle

Are you paying any other fees on top of the closing cost and admin fee? (The other poster mentioned her total closing and fees was near $900)

 

[Nicole Edwards]

Bought from fidelity twice. My brother bought from them once.

Once in 2011. Market price. Not a bad deal not a great deal. They weren't communicative, which was frustrating, but I got my contract.

Bought again in late 2014/closed in 2015. Took into consideration their $195 admin fee. Lowballed. No response for two weeks. Seller accepted price offered. Was shocked. Again, hard to reach fidelity. Was scared the sellers would back out (the deal was that good). Long story short, finally closed.

My brother just bought from fidelity. Again, a decent deal. International sellers. They couldn't close for over a year bc of notary and estate issues. My brother wasn't giving up bc the price skyrocketed within that year. They finally closed in April of this year.

They are legit. They will negotiate. They aren't that great at communicating.

*** When you say that you lowballed the offer to make up for the admin fees..... how much lower than asking price did you go?? That is if you don't mind me asking... I am trying to figure out if I want to try and put in an offer through these guys are continue to look around!!!

 

[suebeelin]

*** When you say that you lowballed the offer to make up for the admin fees..... how much lower than asking price did you go?? That is if you don't mind me asking... I am trying to figure out if I want to try and put in an offer through these guys are continue to look around!!!

We offered $10 below asking.... On a 200pt contract.

My brother offered $15 below and had a lot of back and forth on a 170pt contract. They ended up $10 below.

Always take into consideration if there are banked and borrowed points. You can also negotiate maintenance fees and/or closing costs.

If the seller will be underwater, they are less likely to negotiate. Luck of the draw... But you never know.