Is this common with Fidelity?

Discussion in 'Purchasing DVC' started by monorailmom, Apr 9, 2013.

  1. monorailmom

    monorailmom DIS Veteran

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    We've made three offers so far that have allegedly been flatly regected by the seller. We have checked the thread that tells what went through ROFR, so we know we didn't come in crazy low or anything..if anything, we've been mid to high. Each time we've made an offer, the realtor has not gotten back to us. When we get in touch with her, she says the offer has been rejected, without a counter offer. Do you think the offer is even being made? We are very surprised and disappointed with this level of customer service, but unfortunately, Fidelity has the most amount of listings. Thoughts??
     
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  3. lchute1158

    lchute1158 Mouseketeer

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    I have had the same exact problem. Made several offers.... No response. After a few day I'll ask and said it was rejected no counter offer. Then I ask why is everyone else posting great price per point deals and I cannot even fit a counter...... No response....
     
  4. e46m3

    e46m3 Mouseketeer

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    Same thing happened to me. I think they are understaffed and their systems are not updated making them very inefficient at doing things.
     
  5. dbs1228

    dbs1228 DIS Veteran

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    I do not know why they would not have gotten back to you - thats unacceptable. As far as sellers rejecting offers the thing I have learned over the past month is there is more demand then supply of contracts right now and sellers are realizing it slowly but surely. Our 1st contract sent to Disney was BWV 55.00PP this years points and it was the asking price - Disney took it. Second contract was listed for 60.00PP fully loaded I made a full price offer and sellers wanted to know why its was sold so quick - long story short I walked away and sellers raised the price to 70.00PP and someone offered more then that. Third contract was listed at 72.00PP BWV loaded and I offered 65.00 and it was accepted about an hour later. I think those who listed around 65.00 - 70.00PP (using BWV as an example) are waiting to get just that where as up until mid Feb those same contracts were selling in the mid 50.00PP range. Talk to the broker ask them what they think is a reasonable offer but you still have to do what is right for you.

    Good luck
     
  6. PinMan

    PinMan Mouseketeer

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    interesting , seems to be a high demand
     
  7. bradr325

    bradr325 Earning My Ears

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    Every company I've talked with says that the Disney properties are flying of the shelf.
     
  8. wdrl

    wdrl DIS Veteran

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    I highly doubt any foul play on the part of the realtor. Realtors have nothing to gain by not communicating an offer to the seller. Realtors make their money by doing volume business. The more sales they make, the more money they make. Realtors make nothing when a sale doesn't occur.

    However, one would hope that a realtor would have the courtesy of keeping prospective buyers informed when offers are rejected. The realtor could explain why the offer was rejected and advise the buyer what alternative actions could be taken.
     
  9. JimMIA

    JimMIA A little Miami humor...

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    I agree.

    I'm not bashful about criticizing any broker who is unprofessional, incompetent, etc -- but I really doubt there is anything sinister going on. I don't think a broker would risk their license by just not tendering offers and telling their customer they had.
     
  10. monorailmom

    monorailmom DIS Veteran

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    Thanks everyone....we weren't`t so much thinking foul play as just very poor service! We`'ve purchased two homes, and are accustomed to an agent who is much more proactive in getting a sale made. Why not call us back, or give us advice on how to make an offer? Just seems strange.
     
  11. AddieAidey

    AddieAidey Earning My Ears

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    Had the same thing happen with me in March with Fidelity. I saw that the market was changing and contracts were going up in price due to the direct increase. I moved along to another company and was just lucky that they had the right contract listed the very next day. Fidelity is just too swamped. I don't believe it is all the brokers fault. They are overworked and don't have an efficient system for support.

    If you can help it, I would move along and call someone to let them know what you are looking for and hopefully they will have something in the pipeline for you :)
     
  12. fmer55

    fmer55 DIS Veteran

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    Just a warning, no matter how much you are spending this is much different than buying a house. People change their minds daily on both sides, buyers and sellers. Their is no recourse for the buyer, you just have to hope that the seller you are dealing with is on the up and up.

    One piece of advice I will give regarding Fidelity is to get them on the phone. I have had 2 contracts go through with them, 1 fall apart and an offer recently accepted. I have the direct numbers to both of their main agents and never seem to have a problem getting them on the phone. I have, though , had a few emails fall through the cracks.

    I do believe they are thoroughly understaffed in this market, In their defense I did have an offer sit unresponded to for 3 days from one of the others firms as well.
     
  13. MickeyFan612

    MickeyFan612 Mouseketeer DVC Gold

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    First off there are way more buyers than brokers! One really has to work hard at finding a contract because the brokers simply don't have enough desirable contracts to go around! Brokers now make everyone wait til the new listings are posted because most new listings sell immdeiately! I think you'd be surprised how many are competing for these resale contracts- The countless threads on here recommending resale are working:)
     
  14. fmer55

    fmer55 DIS Veteran

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    Working for who? I would say they are working for the sellers, prices are skyrocketing, less than a year ago I bought BWV for $50pp, a contract with full points. Today that contract could sell for 70 and there is only 29 years left on it. I would argue that in 15-19 years the contract with be virtually be worthless.

    A smart man would dump that contract now and turn it into a BLT contract with an extra 18 years left on it for an extra $10-15pp. But I never claimed to be a smart man:lmao:

    Just One dummies opinion;)
     
  15. KAT4DISNEY

    KAT4DISNEY Glad to be a test subject

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    Recommendations for resale are beneficial to both sellers and buyers. They still cost significantly less than direct and sellers have a market for something they can't use or don't want anymore.
     
  16. fmer55

    fmer55 DIS Veteran

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    I am not a seller and not concerned with sellers. If you reread my post, I expect my BWV and OKW contracts to be worth zero by the time I am ready to sell. And I would like to think these boards, specifically ROFR board at this time are artificially inflating prices.

    How many times have you heard the question, should I offer more than asking to avoid ROFR? We do not know what drives ROFR and should never tell someone to offer more than asking. Have you ever walked into the grocery store and told them their sale price was too cheap? I insist on paying more. If you want to avoid ROFR, which you have no reason why/when they exercise , then buy direct and leave the cheap prices for me please:thumbsup2
     
  17. gopfans

    gopfans Earning My Ears

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    We are currently waiting to close on our AKV contract through Fidelity. we passed ROFR in March. We have had a great experience with Sharon. When I called about putting offers in, the receptionist transferred me and it just rang and rang-nobody picked up. After that happening twice, I called back and asked to speak to Sharon. I was transferred to her voice mail. I didn't know her, I had only seen her name on the boards and heard she was good to work with. She called me back within about 2 hours and then she called back within another two to say the sellers had accepted our contract.

    I think that was about our 4th contract that we put offers in on in about 3 months. We found that there were some unmotivated sellers out there and not just the brokers being slow getting back. We had 1 contract that it took the broker calling twice over a couple of days to say they decided not to sell. Another that we decided to bid on that they were asking $78pp we offered $68 and it took them three days for the seller to counter at $77 and buyer paying all fees. I understand people needing to get out of a mortgage but they are going to be waiting a long time asking $78 pp on a 200 pt contract fir AKV A couple of others we didn't get counters on at all. These offers were spread out over all of the major brokers. The one we finally are getting we agreed on $63pp in our use year of our other contract we bought direct.
     
  18. lchute1158

    lchute1158 Mouseketeer

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    I am giving up on Fidelity..they have lots of contracts, or so it seems. I asked about a ssr just a moment ago....sold.

    My other experience is with TSS. I called...was immediately put through to someone who knew all about the listing....explained all my questions ....and then called me back within 15 minutes with the sellers response...had the whole deal done withing 1 hour from first call to final offer accepted and then only 2 hours until got the contract emailed....very happy with TSS
     
  19. KAT4DISNEY

    KAT4DISNEY Glad to be a test subject

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    I think you've misunderstood my belief with not understanding what you were saying, which I did. But my post was simply to state that I think that both buyers and sellers are still helped by the info on resale even though you wish the prices would drop instead. The value for a repeat visitor who will only stay onsite is still there with resale - even at the older resorts. The ones who really benefit are those who started in the cycle 10 or even 20 years ago but just because today's buyer may not benefit as much doesn't mean they can't or won't still benefit.

    However I don't agree with the attempts to avoid ROFR with higher offers than asking. DVC has never taken every single contract and I don't believe they ever will and trying to guess why they take back some over others is as impossible as figuring out if the chicken or the egg came first. So a higher offer is simply handing over extra money that the seller wasn't asking for. But I also thought that many sellers ought to be asking for more than they were when certain properties had gotten hard to find via resale. Much still comes down to supply and demand. If the value of DVC provides demand then prices should reflect that no matter if that means going lower or going higher depending on the supply.
     
  20. DougEMG

    DougEMG DIS Veteran

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    I'm actually kind of toying with this idea myself. Have to see if lossing 10% on commission and another 10% on with holding taxes and then income tax on any remaining profits still make it worth while.
     
  21. Scotch

    Scotch DIS Veteran

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    Sell on your own and save the 10% commission. It's so odd that on DIS, practically every one who talks about selling (and buying) refer to using a broker. But on TUG, I'm used to "hearing" most talk about buying/selling timeshares without a broker. Folks list ads using minimal cost sites like Redweek or myresortnetwork, ebay, or TUG's (free to members) Marketplace; then they use a third party professional closing company. I bought and sold my first two DVC resale contracts without a broker. I have used a broker to sell for the convenience, but I don't feel like it is a must. And for some contracts that 10% is a significant amount.
     

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