Buying resale through Fidelity Timeshares

[supersnoop]

I had thought there would be a chance the administrative fee would be included in the price per point DVC looks at for ROFR. Anybody know?

When Disney takes a contract, they have to pay exactly what you agreed to pay. I'm sure they take it into account, but I don't expect the price to be their primary motivation for taking a contract. $195 isn't likely to make or break their decision.

 

[Littlelulu01]

I just received my closing documents today. The estimated fees from Fidelity were higher than the actual fees due. I think my Aulani contract actual fees due at closing were about $150 less than was estimated. Fidelity's estimated closing fee quotes were less than the other broker sites fee quotes for Aulani so in the end purchase through Fidelity was less even with factoring the $195 fee.

 

[MouseOfCards]

If you just email them it sits in a que to be assigned according to Bonnie. She says reach out to her directly on any deals. She worked very hard on mine, trying to reach the seller for a week whom we found out was on vacation. She did get my OKW from 63 to 54.35. Yay!

Very nice! Bonnie was great to work with.

 

[MouseOfCards]

I just received my closing documents today. The estimated fees from Fidelity were higher than the actual fees due. I think my Aulani contract actual fees due at closing were about $150 less than was estimated. Fidelity's estimated closing fee quotes were less than the other broker sites fee quotes for Aulani so in the end purchase through Fidelity was less even with factoring the $195 fee.

They sell so many contracts that closing cost estimates should not be an issue. On a couple of our contracts with them, the closing fees were much higher than the estimates. After many complaints, they lowered the fees on one of them a little bit and on another one cut the fees to below the estimates. Sounds like they are improving in this area. Hopefully this lasts.

 

[keishashadow]

When Disney takes a contract, they have to pay exactly what you agreed to pay. I'm sure they take it into account, but I don't expect the price to be their primary motivation for taking a contract. $195 isn't likely to make or break their decision.

No but i was hoping the $195 would raise the price per point to take me over $81 pp on this small contract.

IMO every little bit may help to make it more unattractive if all things are equal and they don't need the points.

 

[MooseBucks]

No but i was hoping the $195 would raise the price per point to take me over $81 pp on this small contract.

IMO every little bit may help to make it more unattractive if all things are equal and they don't need the points.

I had the seller pay the admin fee and offered "more" per point on my contract. I wasn't sure if disney counted the admin fee in their calculations or not. If the contract I got got taken I was going to inflate my next offer even higher by having seller "pay" closing costs. Not sure if it matters but figured it couldn't hurt.

 

[ELMC]

When DVD exercises ROFR they essentially supplant you as the buyer and are responsible for every element of the contract that you would have been. So they will need to pay the $195 fee and they do include that in their calculations. The bigger issue, however, is that this $195 fee is a straight up cash grab by Fidelity. They can get away with it because they have the lowest prices, and I've paid it quite a few times myself. But each and every time I let them know that it is gratuitous.

 

[keishashadow]

When DVD exercises ROFR they essentially supplant you as the buyer and are responsible for every element of the contract that you would have been. So they will need to pay the $195 fee and they do include that in their calculations. The bigger issue, however, is that this $195 fee is a straight up cash grab by Fidelity. They can get away with it because they have the lowest prices, and I've paid it quite a few times myself. But each and every time I let them know that it is gratuitous.

Thank you for that excellent explanation.

 

[SL6827]

OK, so if Fidelity prices their contracts lower than other resale companies, will that increase your odds of not passing ROFR?

 

[ELMC]

OK, so if Fidelity prices their contracts lower than other resale companies, will that increase your odds of not passing ROFR?

I believe that price is a very small element of whether or not a contract gets taken by ROFR. Many times I have had a contract taken only to see a similar contract in UY and points status passing for a lower amount. Admittedly, this is anecdotal, but I think the overall data supports this. Furthermore, I have spoken with people "in the know" who have confirmed that the process is, let's just say, nebulous. My point is, I think paying more per point for a greater chance of passing ROFR is not a good use of money. If it makes you feel better, than that's great, but you're probably paying for the good feelings and not anything substantive as it pertains to passing ROFR.

 

[Spartan86]

Quoted $590 + $195 on $20K. Asked about Magical Vacations and agent said they quoted $615 and would not include title search and title insurance. FWIW.

 

[Jeff Z]

Quoted $590 + $195 on $20K. Asked about Magical Vacations and agent said they quoted $615 and would not include title search and title insurance. FWIW.

I had the same issue, we ended up paying all in in closing cost $860.20. We bought 300 points at BWV for 76 a point ($22,800.00) all in cost was $23,660.20 for a total of 78.86 a point. I still found it cheaper than many other sites out there selling the same contract at roughly 85-90 per point.

 

[MouseOfCards]

I had the same issue, we ended up paying all in in closing cost $860.20. We bought 300 points at BWV for 76 a point ($22,800.00) all in cost was $23,660.20 for a total of 78.86 a point. I still found it cheaper than many other sites out there selling the same contract at roughly 85-90 per point.

That's an incredible price! Was this like 30 years ago?!

 

[Littlelulu01]

One extra little bit of info: I know people have reported that they think some brokers leave listings up that aren't actually available anymore. My recent Aulani purchase came off their website the day it closed. It also switched from available to pending status as soon as contract was signed around and sent to rofr so at least in my case I can say that the contract status was updated on their website very quickly. I had zero problems using Fidelity and only kick myself for not using them in the past with other resale purchases. Their process was straightforward and professional. I really liked the title company too, timeshare title inc. they had excellent communication and their website showed a link I could check anytime on the status of closing/what they were doing or waiting for. I have a contract I'm thinking of selling and they offer 5% commission. Basically I think the lower prices they recommend are because they're listing at prices that aren't that negotiable, the seller is paying less commission so willing to list a little lower to move contract. The $195 fee for buyers is really a non issue given their overall lower closing costs compared to the other main brokers.

 

[MouseOfCards]

One extra little bit of info: I know people have reported that they think some brokers leave listings up that aren't actually available anymore. My recent Aulani purchase came off their website the day it closed. It also switched from available to pending status as soon as contract was signed around and sent to rofr so at least in my case I can say that the contract status was updated on their website very quickly. I had zero problems using Fidelity and only kick myself for not using them in the past with other resale purchases. Their process was straightforward and professional. I really liked the title company too, timeshare title inc. they had excellent communication and their website showed a link I could check anytime on the status of closing/what they were doing or waiting for. I have a contract I'm thinking of selling and they offer 5% commission. Basically I think the lower prices they recommend are because they're listing at prices that aren't that negotiable, the seller is paying less commission so willing to list a little lower to move contract. The $195 fee for buyers is really a non issue given their overall lower closing costs compared to the other main brokers.

Sounds like somebody's been listening to our complaints from transactions past. It's nice hearing good things about companies that care about customer service and work hard to improve. Hopefully they keep it up.

 

[Jeff Z]

That's an incredible price! Was this like 30 years ago?!

we bought resale, past ROFR last month. waiting on the title company.

 

[DVCExperts]

Sounds like somebody's been listening to our complaints from transactions past. It's nice hearing good things about companies that care about customer service and work hard to improve. Hopefully they keep it up.

We do review what our customers are saying and strive to provide the best customer service!

 

[behapy2day]

I am currently under contract using Fidelity and been pleased so far. I felt the pricing pp was much more realist on their site and a lot of the other sites' pricing detoured me from even making offers. I had been emailing with an agent already so when I saw a contract that I was interested in, I emailed them to make sure it was available, then made an offer at $6 below list price, the sellers responded with $3 below asking and I accepted. Waiting on ROFR now, but based on my research, I am optimistic it is in the sweet spot and will go through.

 

[Goodwill234]

We used Fidelity and closed early January. No problems with them, everything was pretty smooth. I'd recommend using them.

 

[GrumpyInPhilly]

DVCExperts - Welcome to DISboards!