Fidelity $250 service fee?

[badeacon]

I have just entered into a contract via Fidelity. I knew they had a fee and when the agent quoted me the closing costs , I said and then add your extra fee and he said that included the Fidelity fee. Just my data point for the fee.

 

[Nursemanit]

I have just entered into a contract via Fidelity. I knew they had a fee and when the agent quoted me the closing costs , I said and then add your extra fee and he said that included the Fidelity fee. Just my data point for the fee.

Did he quote you the fee before or after your offer was communicated to the seller?

 

[badeacon]

Before. I had submitted an offer online and he called me and wanted to go over offer before submitting to seller.

 

[BeachClub2014]

Before. I had submitted an offer online and he called me and wanted to go over offer before submitting to seller.

That's how it was done when I tried to buy a resale co tract through them. That gave us the opportunity to put the $250 fee as a condition on the seller to pay as part of the offer.

 

[BillPA]

There are many broker, most don't charge this fee. Why would anyone use them? Could I interest you in a bridge in Brooklyn?

 

[BeachClub2014]

There are many broker, most don't charge this fee. Why would anyone use them? Could I interest you in a bridge in Brooklyn?

Are you asking why anyone would list with them or buy from them? We bought a contract that they held the listing because it met our needs at the price we wanted to pay. The seller paid the $250 fee, not us.

 

[Nursemanit]

That's how it was done when I tried to buy a resale co tract through them. That gave us the opportunity to put the $250 fee as a condition on the seller to pay as part of the offer.

If I was offered that option, I would be fine with it.

 

[badeacon]

There are many broker, most don't charge this fee. Why would anyone use them? Could I interest you in a bridge in Brooklyn?

So you would rather pay say $140 for a 100 point contract and not pay $130 with a $250 fee? fidelity has a lot of lower prices than some of the other brokers. board sponsor

 

[NVDISFamily]

Fidelity was a mixed bag to deal with for my first purchase. Bonnie was nice and professional when I could get in touch with her and when she did respond (that was the biggest issue is that sometimes she would not respond to emails). I've read on other threads on this board say she is the best person there to work with if she is offering the contract. When she worked up our offer she was very clear about the admin fee and disclosed it in the initial assessment email and in the contract. The price was very good for a somewhat loaded VGC contract (255 a point) and the fee didn't make a significant impact on the deal (it was 225 at the time so it added .83 cents per point). I'll also give Bonnie kudos for recommending Cammy at Mason Title who was awesome and will be my go to title agent for any future resales.

The admin who does the additional backend stuff at Fidelity was not so professional. I learned to always copy Bonnie on emails when I wanted a "real" response and not some rude response or no response at all.

TLDR - I would buy again from Fidelity if the price was awesome, but I'd go in knowing it would be more painful and take longer than necessary.

 

[Sunnyore]

I also just did my first contract with Fidelity and I was aware of the fee because of posts from this forum. My listing was with Bonnie and she reached out first to go over total estimate cost including admin fee before presenting my offer to the seller. I just made sure I include the fee as part of total cost and was okay moving forward. I will say I am surprised with my experience so far. The contract was submitted to ROFR within a day of offer being accepted and just this week the contract coordinator reached out to update me, even if it’s just to say we’re still waiting. It’s crazy how ppl’s experience varies so much. As others have pointed out, they often have the lowest prices. I wouldn’t let an admin fee keep me from using them.

 

[Redheadprincess]

We ended up going with Fidelity for both of our BCV contracts this past spring. I found international sellers by simply asking via chat is the sellers were domestic or international. Bonnie Krampe and Ivey Henning were the listing agents and both were responsive to emails. We knew about the admin fee. We offered $15 below asking on both contracts, which they presented and accepted immediately. We paid $145 and $150pp on loaded BCV contracts. Most brokers are still listing these contracts over $175pp. There were going over $180 when we made offers. We passed on both contracts and used Cammy at Mason. We had both closing documents within an hour or two of passing ROFR. We did not wait 2-3 weeks like others. We waited on Disney about 2 weeks each time to load the membership than got points loaded within 24 hours via chat. We had the most seamless experience both times. 2nd contract took a bit longer for seller documents to arrive but each contract was 51 and 65 days from offer to points in account. I highly recommend Fidelity.

 

[Nursemanit]

We ended up going with Fidelity for both of our BCV contracts this past spring. I found international sellers by simply asking via chat is the sellers were domestic or international. Bonnie Krampe and Ivey Henning were the listing agents and both were responsive to emails. We knew about the admin fee. We offered $15 below asking on both contracts, which they presented and accepted immediately. We paid $145 and $150pp on loaded BCV contracts. Most brokers are still listing these contracts over $175pp. There were going over $180 when we made offers. We passed on both contracts and used Cammy at Mason. We had both closing documents within an hour or two of passing ROFR. We did not wait 2-3 weeks like others. We waited on Disney about 2 weeks each time to load the membership than got points loaded within 24 hours via chat. We had the most seamless experience both times. 2nd contract took a bit longer for seller documents to arrive but each contract was 51 and 65 days from offer to points in account. I highly recommend Fidelity.

Sounds like a good review of Mason title - What did Fidelity do that was worth $250 over another broker

 

[NVDISFamily]

Sounds like a good review of Mason title - What did Fidelity do that was worth $250 over another broker

They offer contracts for and are willing to negotiate a price per point well bellow others but they do so with less than awesome (based on my experience) customer service.

When I got my first contract from them I was asking other “more popular” brokers for similar deals and was basically pushed back on and told I was asking for too low of a price per point.

I also forgot to add that they sat on my contract for 10ish days before sending to ROFR. That was no bueno. My next broker sent it the next day after it was accepted.

 

[Nursemanit]

Thanks - That is what I was looking for -I don't mind spending if I get value .

Although my offer was accepted on July 3rd and sent to Rofr on July 11th but it was a holiday week..Neither offer ( different brokers) went until the 11th

 

[Redheadprincess]

Sounds like a good review of Mason title - What did Fidelity do that was worth $250 over another broker

Yes, everthing was seamless for us. Plus these contracts were listed $15-20pp less than every other broker. So at buying 360 points we saved over $5k buying from another broker.

 

[Redheadprincess]

They offer contracts for and are willing to negotiate a price per point well bellow others but they do so with less than awesome (based on my experience) customer service.

When I got my first contract from them I was asking other “more popular” brokers for similar deals and was basically pushed back on and told I was asking for too low of a price per point.

I also forgot to add that they sat on my contract for 10ish days before sending to ROFR. That was no bueno. My next broker sent it the next day after it was accepted.

They sent both of ours within a day. I guess we all have different experiences.

 

[NVDISFamily]

They sent both of ours within a day. I guess we all have different experiences.

Yep. I'm not anti Fidelity. I knew that they had potential issues from other posts on the board I read before I jumped in but I got the points I wanted at a great deal

I just think they have some more issues than others.

Oh another one - I called about other contracts on their site and they said they were already sold and when I asked about why it's on the site still they were like oops LOL.

 

[Noles235]

Fidelity was a mixed bag to deal with for my first purchase. Bonnie was nice and professional when I could get in touch with her and when she did respond (that was the biggest issue is that sometimes she would not respond to emails). I've read on other threads on this board say she is the best person there to work with if she is offering the contract. When she worked up our offer she was very clear about the admin fee and disclosed it in the initial assessment email and in the contract. The price was very good for a somewhat loaded VGC contract (255 a point) and the fee didn't make a significant impact on the deal (it was 225 at the time so it added .83 cents per point). I'll also give Bonnie kudos for recommending Cammy at Mason Title who was awesome and will be my go to title agent for any future resales.

The admin who does the additional backend stuff at Fidelity was not so professional. I learned to always copy Bonnie on emails when I wanted a "real" response and not some rude response or no response at all.

TLDR - I would buy again from Fidelity if the price was awesome, but I'd go in knowing it would be more painful and take longer than necessary.

Certain reps there seem to either lose emails or something as at least one never replies to me or my offers.

 

[Noles235]

They sent both of ours within a day. I guess we all have different experiences.

I had one recently took nearly the same amount of time to send to ROFR. It was my first purchase with them and figured they did not notify me upon being sent. Come 10 days later it is sent, which was depressing to have to wait even longer.

 

[Sandisw]

Yep. I'm not anti Fidelity. I knew that they had potential issues from other posts on the board I read before I jumped in but I got the points I wanted at a great deal

I just think they have some more issues than others.

Oh another one - I called about other contracts on their site and they said they were already sold and when I asked about why it's on the site still they were like oops LOL.

They certainly have had some issues recently with contracts.

It is odd that they don’t include closing costs on their listings either so maybe they see it as part of that and choose to disclose during the contract process?

Sounds like they go over that fee and closing before submitting to ROFR which would allow someone the 10 days to back out.

I know a few times when I saw things there I called to get that info before I made an offer via the link since closing cost estimates weren’t there. Never heard back a few times and the onee time I did contract was indeed already sold.

They seem to have trouble keeping their website up to date.