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Resale purchase contract question

Discussion in 'Purchasing DVC' started by JessLCH, May 3, 2013.

  1. JessLCH

    JessLCH DIS Veteran

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    Just got our contract on BLT emailed from Fidelity. It was a short, basic 4 page document. I just emailed the following question to Fidelity. It says I should look at all this before signing, yet I have no idea where to find any of these documents. I emailed them the following question below. Anyone know where I can find these docs?

    Thank you, I received the contract. I do have a question regarding #12 on page 3 of 4 of the contract. Where can we view the documents mentioned in #12 such as: declaration of condominium, covenants or restrictions, association articles, bylaws, this year’s operating and reserve budgets, and any rules and regulations affecting the use of timeshare plan accommodations and facilities?
     
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  3. collections

    collections Mouseketeer

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    I think you may be missing some pages. I think my Fidelity contract was longer than that.
     
  4. JessLCH

    JessLCH DIS Veteran

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    Okay, thanks. Did yours include the above mentioned documents?

    I guess I will wait to hear back from Fidelity. We are first time buyers to DVC so want to have all the details in writing. The short 4 page contract is pretty generic.
     
  5. collections

    collections Mouseketeer

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    I just checked it and it did not. It was 4 contract pages, 2 pages of addendums, buyer closing option page, transaction broker notice page, new buyer info form, and authorization to charge credit card form.
     
  6. JessLCH

    JessLCH DIS Veteran

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    were you already a DVC member when you purchased through Fidelity? I am a first time buyer and definitely want to read through (or have my husband read through) all of the details. I expected it would be standard that I would have easy access to reviewing this stuff.
     
  7. Sandisw

    Sandisw Moderator Moderator

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    I have never received those documents via my resale purchases. They are sent from Disney when the contract is bought from them directly to the original owner. First time buyers get them after closing--at least that's how it worked in 2009 when I bought my first one. I'd ask the seller to see if they still have them. I'm not sure if they are published anywhere.
     
  8. JessLCH

    JessLCH DIS Veteran

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    Wow, I hope Fidelity can figure out how to get me these docs from the seller to review before signing. How could I possibly make a large purchase and then read the details to what I purchased AFTERWARDS?
     
  9. JessLCH

    JessLCH DIS Veteran

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    So is there ANYONE out there who actually got access to and read the nitty gritty docs and details of the purchase before signing a generic resale contract? I cannot imagine that I am the only person who would want to read these details before spending a large amount of $.

    So if you DID read these detailed docs purchasing resale, can you explain how you gained access to them? Thanks.
     
  10. MDFam

    MDFam Earning My Ears

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    I also had your exact same question. The contract talks about the important terms and information you should read before signing, but the resale company doesn't give you any of it! I called Fidelity and asked, and Sharon sent me a POS book which I suspect was an extra they had just lying around. So I did read through that first and have the book, but I am not sure where other resale buyers get that information. Maybe other resale companies send it to you automatically??
     
  11. JessLCH

    JessLCH DIS Veteran

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    Thanks so much for this! I sent an email and left a voicemail for Sharon yesterday, but it was at the very end of the day. Will follow up on Monday and hopefully will have the same results as you. Will feel much more comfortable if I can view a POS book!
     
  12. JessLCH

    JessLCH DIS Veteran

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    Update: Just spoke with Sharon who is going to mail me a POS book to review.
     
  13. JessLCH

    JessLCH DIS Veteran

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    Just updating that Fidelity says they mailed me the POS on Monday and I should have it by the end of the week. I sure hope so.
     
  14. JessLCH

    JessLCH DIS Veteran

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    Finally received the DVC Component Site POS in the mail today from Fidelity! Was beginning to think I would not get it. We can read through it this weekend and sign and submit contract on Monday.
     
  15. agie65

    agie65 New Disney Fan DVC Gold

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    Fidelity contract is usually 11pages long, TSS will send in one page, I used both for resale purchases and both works differently.
     
  16. JessLCH

    JessLCH DIS Veteran

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    Yes, it was 11 paged including all the pages that need to be signed. But the actual "contract" describing terms was 4 pages. Anyhow, I do have a POS book now too, which is what I was asking about.
     
  17. kmkja1

    kmkja1 DIS Veteran

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    11 pages for Fidelity sounds about right.
     
  18. wdrl

    wdrl DIS Veteran

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  19. JessLCH

    JessLCH DIS Veteran

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    THANK YOU so much for this info. This is what I have been looking for!!!!
     
  20. JessLCH

    JessLCH DIS Veteran

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    Contract and deposit signed and submitted, now awaiting an email on when it will go to Disney for ROFR.
     
  21. JessLCH

    JessLCH DIS Veteran

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    Submitted to Disney yesterday (May 14) for ROFR process. Not comfortable sharing contract details at this point but will post when the ROFR process is done.

    Thanks for all the amazing info on this board. Truly could not have done it without all your knowledge and resources!
     

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