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Do contracts go this fast?

Discussion in 'Purchasing DVC' started by rojen, Jan 30, 2013.

  1. rojen

    rojen Mouseketeer

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    I've inquired on about seven different contracts listed by three of the big brokers. They were all under contract. Do contracts normally sell this fast, or is there a bit of bait and switch going on? They were loaded contracts, so I'm sure that makes a difference.
     
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  3. ELMC

    ELMC DIS Veteran

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    A contract with two year's worth of points that is priced appropriately can sell in a matter of hours, if not minutes. I highly, highly doubt that there is any impropriety going on. I have worked with both Fidelity and TTS and they are reputable businesses. I understand that it's human nature to wonder if something is going on behind the scenes, but I think we owe these brokers the benefit of the doubt based on their track record and reputation.
     
  4. lilpooh108

    lilpooh108 DIS Veteran

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    I bought a contract that was sold within minutes of the email going out (to me). Someone was calling about it while I was on the phone.

    2 years later I resold that contract. Got 2 offers w/in a 24 hour period for it so technically it was under contract before the email even went out.

    So yes, depends on the contract.
     
  5. MickeyFan612

    MickeyFan612 Mouseketeer DVC Gold

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    What size of contracts were they? I suggest stalking the websites daily- I've noticed Fidelity is updating in the afternoons. If you don't have time to get your offer in during the afternoon send an e-mail that night letting them know your offer- you can lose a contract in the time you take asking about it so if you know what you want to offer you should do so right away:) Good Luck to you:)
     
  6. rojen

    rojen Mouseketeer

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    They were all between 150-200 points. Kinda feels like no one wants my money. I've sent emails to a few brokers letting them know what we're looking for. Hopefully something can come through. I wasn't suggesting impropriety really, just that they left sold contracts up for sale a little longer than necessary in order to entice you into looking into it.
     
  7. rojen

    rojen Mouseketeer

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    And none of the brokers offered up different contracts like a traditional bait and switch or anything. Except one said that OKW goes for around the same price point as SSR. Nothing below board, just annoying that you see something you like and it's gone before you can shoot off an email.
     
  8. MickeyFan612

    MickeyFan612 Mouseketeer DVC Gold

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    I assure you this is not the case with Fidelity- they try to update site twice a week! Not really sure about the other sites! Contracts really do sell that fast at Fidelity- they are known for being very buyer friendly:)
     
  9. Miss Peach

    Miss Peach Mouseketeer

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    It is way too early for you to feel like they do not want your money. It can take time and tenacity to get 'your' contract.

    Have you contacted the three busiest brokers and let them know for what you are looking? They can and will give you a heads up before a possible match hits their website.

    The last two years we have added small contracts to our VGC points. Small resort, small contracts! Yikes! But we got what we needed, checking daily, offering frequently, and not taking it personally!

    Good luck!
     
  10. Discomom703

    Discomom703 Earning My Ears

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    I will have to concur.. I've only worked with TSS.. and so far I was able to get a small 50 pt contract right after i got an email.. It had my AUG UY so I jumped on it. I was also put on a waitlist for small contract and it took 2 months for me to get it.

    I do believe they are very professional and no sketchy deals are going on. Its just that people are out to buy fast and they do stalk the website.. i called daily and kept sending emails. Be patient.. you will find your perfect contract!

    Good luck!
     
  11. JMW123

    JMW123 Earning My Ears

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    FYI, we just had an offer accepted through ********** last week and it took about 24 hours from when we received the email from them that the seller accepted our offer to when the listing on the website changed to "Sale Pending" So, you may be bidding on contracts that have already been verbally sold. Not sure why it took so long for our listing to say "Sale Pending" We did all the paperwork within a few hours of acceptance, but I guess it is either because of the logistics of having someone edit the webpage take time and/or the fear that the 1st 24 hrs probably see a lot of buyers and or sellers trying to back out of a deal that the have 2nd thoughts about.
     
  12. GOOFY D

    GOOFY D DIS Veteran

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    Rachel at Fidelity told me that they cannot give any information on any contracts until they are posted on their website.
     
  13. puffkin

    puffkin DVC Owner- SSR & AKV

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    I have been making offers left and right, looking for 100-120 pt at SSR. I stalked the big 4 resale boards daily (usually multiple times) and called as soon as I saw something I liked to make my offer. Some were gone that fast.

    I did feel that the Timeshare Store the small contracts went much faster and for much closer to asking. I got turned down left and right there. I did have much better luck with Fidelity and negotiating. I got a lot more counter offers there although none got me quite where I wanted to be. Definitely get used to rejection. We actually have a verbal agreement in now, I am waiting for the paperwork from Shawn Ray. Fingers crossed everything goes smoothly.

    Just remember they are a dime a dozen and don't get too discouraged!
     
  14. Jasonkat

    Jasonkat Mouseketeer

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    When I was looking a couple months ago I checked all three major websites every hour during the day. As soon as my contract was posted I called Fidelity and offered full price for it. It was only posted one hour or less when I called.

    If you aren't looking at the websites obsessively you will never get the best contracts.
     
  15. rojen

    rojen Mouseketeer

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    I'm on the computer all day everyday and already bookmarked all four brokers listings. I'll try to snipe one when it comes up. Sounds like I'll go for a bigger contract so there's more chance of negotiating. Don't want to pay a huge premium for a smaller contract.

    You guys are great, thanks for all the help
     
  16. Miss Peach

    Miss Peach Mouseketeer

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  17. CarolMN

    CarolMN DVC Co-Moderator Moderator

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    I understand that as of 1/1/2013, Fidelity is charging the buyer an admin fee of $195. You might want to take that into consideration when making your offer to the seller.
     
  18. fmer55

    fmer55 DIS Veteran

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    Rachel no longer works at Fidelity and I bought my first contract before it was listed on the website in March.
     
  19. disneynutz

    disneynutz DIS Veteran DIS Lifetime Sponsor

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    They had an admin fee in the past and they discontinued it I thought, so it's back again?

    Disney makes referrals to Fidelity and gets paid a large commission, my guess is that they are trying to make some of the money back.

    :earsboy: Bill
     
  20. CarolMN

    CarolMN DVC Co-Moderator Moderator

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    Wasn't the fee that they discontinued charged to the seller? It appears they now have decided to charge that fee to the buyer instead of the seller.

    I posted because I have not read of any other broker charging a fee to the BUYER and it doesn't sound like many prospective buyers know about it yet. I wonder if they are waiting until a deal is struck to disclose it? I didn't see anything about it on their website.
     
  21. Breyean

    Breyean DVC Since '93

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    I posted about this is the Waiting to Pass ROFR thread - I think I was the first. I'm in ROFR now on a VGC resale through Fidelity. Found out about the $195 admin fee AFTER the negotiations were over through an email from Fidelity with the estimates of my costs outlined.

    There it was - right with closing costs, etc. - admin fee. When i called to ask, I was told since I was a repeat buyer from Fidelity they thought I already knew about it so didn't bother telling me. The date of the email was 1/17, so since the fee started on 1/1 that' hard to swallow. I hadn't bought another contract from them in those 2 weeks.

    I'm starting to think this topic needs its own thread so people will have this info going into their negotiations, unlike me, and be able to factor this cost into what they want to pay.

    Since it's a flat fee it's very regressive so buyers looking for small contracts will have to be extra mindful of how this impacts their price per point.
     

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