Fidelity closing costs recent experiences

[shairpdrh]

I approved a contract from Fidelity on Friday. My closing is estimated at at $618 plus $ 195 admin fee on 210 pts at AKL. This is through First American

My estimated costs were very similar at $615 plus $195 admin fee for my Poly contract with 160 points.

 

[PrincessDuck]

We had estimated costs of $540 plus $195 admin fee fore 160 points at AKV.

 

[DVC Fanatic]

So my deed was finally recorded today and the sale closed last Friday and Disney was notified on Friday. We will see how long it takes to get our number and our points.

I really had not issues with Fidelity, but had some issues with First American Title (FAT). I think some of it is that they have so many different contracts going on, it takes about 2 weeks to get closing documents after passing ROFR. Estopell can be done in usually a day or two, but FAT hides behind this to why they take so long to get the closing documents together. My big problem was that it took about two weeks for the sellers to sign their contract. I thought they might have been getting cold feet and contacted FAT. They responded promptly and told me that some sellers are slower over the summer as people go on vacation. Seemed like a valid reason at the time. About a week after that I contacted my broker with Fidelity, Bonnie, she contacted the seller immediately and they told her they would be returning the paperwork that same day, as the original paperwork had the spouses name misspelled. FAT has had many issues like this and never apologized or even let me know it was their fault the closing took an extra week.

I really did not need the points right away, but we are leaving this Saturday for a rented DVC trip to 5 different resorts over 2 weeks. We really wanted to get our membership number to hopefully get into the Top of the World Lounge.

Anyways, that was my experience with Fidelity. If I ever do resale again, I would definitely use Fidelity, but wish I could use a different Title/Closing Company. If you are not in a rush and want to get a good deal, you should not worry about Fidelity.

 

[aokeefe]

Just FYI-if you do go with Fidelity again, you can request a different Title/Closing. I just closed as well and when I made my offer (I went through Craig) I asked what title company they were using. His response was First American but that I could use anyone I wanted.

 

[DVC Fanatic]

Just FYI-if you do go with Fidelity again, you can request a different Title/Closing. I just closed as well and when I made my offer (I went through Craig) I asked what title company they were using. His response was First American but that I could use anyone I wanted.

Appreciate that. That is one thing I would have changed. Good to know for the future if I buy resale again.

 

[beourguest2009]

So my deed was finally recorded today and the sale closed last Friday and Disney was notified on Friday. We will see how long it takes to get our number and our points.

I really had not issues with Fidelity, but had some issues with First American Title (FAT). I think some of it is that they have so many different contracts going on, it takes about 2 weeks to get closing documents after passing ROFR. Estopell can be done in usually a day or two, but FAT hides behind this to why they take so long to get the closing documents together. My big problem was that it took about two weeks for the sellers to sign their contract. I thought they might have been getting cold feet and contacted FAT. They responded promptly and told me that some sellers are slower over the summer as people go on vacation. Seemed like a valid reason at the time. About a week after that I contacted my broker with Fidelity, Bonnie, she contacted the seller immediately and they told her they would be returning the paperwork that same day, as the original paperwork had the spouses name misspelled. FAT has had many issues like this and never apologized or even let me know it was their fault the closing took an extra week.

I really did not need the points right away, but we are leaving this Saturday for a rented DVC trip to 5 different resorts over 2 weeks. We really wanted to get our membership number to hopefully get into the Top of the World Lounge.

Anyways, that was my experience with Fidelity. If I ever do resale again, I would definitely use Fidelity, but wish I could use a different Title/Closing Company. If you are not in a rush and want to get a good deal, you should not worry about Fidelity.

I had a similar situation with FA and was told that one of their best just left. I would probably have points in account right now if the woman who has been working on it hadn’t left. Was told it would close on Friday and they did not close until the following Thursday after I pestered them.

 

[JackArchie]

My offer just got accepted by the seller thru Fidelity. Its a 160 point AUL from aninternational seller. Closing cost is estimated $900 plus $195 admin fee. From this thread seems to me the closing cost is high. Is it because its an international seller? I see in Resales DVC closing cost for AUL is $900 as well. What do you guys think?

 

[Loveallthingsmouse]

My offer just got accepted by the seller thru Fidelity. Its a 160 point AUL from aninternational seller. Closing cost is estimated $900 plus $195 admin fee. From this thread seems to me the closing cost is high. Is it because its an international seller? I see in Resales DVC closing cost for AUL is $900 as well. What do you guys think?

I am waiting to close on an AUL contract, I asked that same question to Fidelity...closing costs are higher in Hawaii than they are for the WDW resorts (I have purchased resale before). Also, they ended up being less when we received our settlement statement. Congratulations...I am so excited to get closed on our AUL contract!

 

[JackArchie]

I am waiting to close on an AUL contract, I asked that same question to Fidelity...closing costs are higher in Hawaii than they are for the WDW resorts (I have purchased resale before). Also, they ended up being less when we received our settlement statement. Congratulations...I am so excited to get closed on our AUL contract!

I see, thanks.

 

[Preds]

The fidelity closing costs seem high to me when you add in the admin fee. I've done 3 closings with purchases through Garden View (Resales DVC) as the broker and closing/title through Jeffrey Sweet and most I've paid in total for closing costs with title was $585 for 150pt BWV last month. My 110pt AKV that we agreed to over the wkd is $510. My 160pt AKV in 2017 from an international seller was $510 as well.

Why are Fidelity's overall closing costs are higher than others?

 

[TexasChick123]

The fidelity closing costs seem high to me when you add in the admin fee. I've done 3 closings with purchases through Garden View (Resales DVC) as the broker and closing/title through Jeffrey Sweet and most I've paid in total for closing costs with title was $585 for 150pt BWV last month. My 110pt AKV that we agreed to over the wkd is $510. My 160pt AKV in 2017 from an international seller was $510 as well.

Why are Fidelity's overall closing costs are higher than others?

If I had to guess, I’d say it’s because FA is a much larger company than a lot of the others. Larger company = more marketing costs, staffing, overhead in general, etc. It’s a national company. My best advice is to choose your own title company. Jeffrey Sweet has been the fastest for me. I also like Magic Vacation Title.

 

[JackArchie]

If I had to guess, I’d say it’s because FA is a much larger company than a lot of the others. Larger company = more marketing costs, staffing, overhead in general, etc. It’s a national company. My best advice is to choose your own title company. Jeffrey Sweet has been the fastest for me. I also like Magic Vacation Title.

Can a buyer choose his own title company when buying w/ Fidelity?

 

[TexasChick123]

Can a buyer choose his own title company when buying w/ Fidelity?

Whomever is paying the closing costs gets to choose the title company. It isn’t a buyer/seller thing, necessarily. Usually, the buyer does pay closing costs though. If you are paying for closing, then you get to choose. It’s a Florida law. You need to tell your agent BEFORE the paperwork is sent to ROFR that you’d like to choose the title company. After you come to terms, but before the initial contract is drawn up, inform them that you are choosing a different title company.

 

[JackArchie]

Whomever is paying the closing costs gets to choose the title company. It isn’t a buyer/seller thing, necessarily. Usually, the buyer does pay closing costs though. If you are paying for closing, then you get to choose. It’s a Florida law. You need to tell your agent BEFORE the paperwork is sent to ROFR that you’d like to choose the title company. After you come to terms, but before the initial contract is drawn up, inform them that you are choosing a different title company.

What about for Hawai’i? Its Aulani property

 

[TexasChick123]

What about for Hawai’i? Its Aulani property

Ask your broker. If it is a law that you can choose, then they’ll tell you. I know it’s the law in Florida and Texas. I’m not sure about Hawaii. Hawaii does have pretty strict laws about timeshares though to protect all involved, so it’s worth asking your broker.

 

[SuzGM84]

We purchased our 1st contract through Fidelity in February (2nd contract we put an offer on, as the first was taken in ROFR). I had no issues with Fidelity. They were up front on the closing costs and fees (approx. 500 in closing on 163 points + 195 admin fee). First American was rough to deal with though. The lack of follow-up to emails was frustrating. Also, they got my husband's email address wrong and wouldn't change it (even after I told them time and time again).

Just put in another offer on a contract with Fidelity today. I'm hoping that process is just as smooth as the last one (and that I get a better title agent at First American this time around).

Just wanted to update that I'm in the process of closing on my 2nd contract with Fidelity. We're going through TimeShare Title and they hve been fabulous. The day we passed ROFR, the title agent was emailing us to indicate they processed our deposit and were waiting on estoppel. As soon as the documents were drafted, they were immediately emailed to us. Our deed was sent for recording yesterday, was recorded today and sent to Disney today. This whole process has been about 2.5 weeks. Last time it took us 2.5 weeks just to get the paperwork. They also have an online closing status tracker which has been awesome to keep ourselves updated. If we ever buy another resale contract, I will definitely ask to use TimeShare Title again. I've been very happy with them compared to First American.

 

[TexasChick123]

Just wanted to update that I'm in the process of closing on my 2nd contract with Fidelity. We're going through TimeShare Title and they hve been fabulous. The day we passed ROFR, the title agent was emailing us to indicate they processed our deposit and were waiting on estoppel. As soon as the documents were drafted, they were immediately emailed to us. Our deed was sent for recording yesterday, was recorded today and sent to Disney today. This whole process has been about 2.5 weeks. Last time it took us 2.5 weeks just to get the paperwork. They also have an online closing status tracker which has been awesome to keep ourselves updated. If we ever buy another resale contract, I will definitely ask to use TimeShare Title again. I've been very happy with them compared to First American.

I love trackers. The Dominos Pizza one is the best. I like that Pizza Hut started doing it too. Pre-kids, we ordered A LOT of pizza. Now, we probably order pizza once every 2 months, but I love to track it when we do.

 

[Henwen88]

Just wanted to update that I'm in the process of closing on my 2nd contract with Fidelity. We're going through TimeShare Title and they hve been fabulous. The day we passed ROFR, the title agent was emailing us to indicate they processed our deposit and were waiting on estoppel. As soon as the documents were drafted, they were immediately emailed to us. Our deed was sent for recording yesterday, was recorded today and sent to Disney today. This whole process has been about 2.5 weeks. Last time it took us 2.5 weeks just to get the paperwork. They also have an online closing status tracker which has been awesome to keep ourselves updated. If we ever buy another resale contract, I will definitely ask to use TimeShare Title again. I've been very happy with them compared to First American.

Would you mind sharing a cost comparison between Timeshare Title and First American? Thanks!

 

[Loveallthingsmouse]

Would you mind sharing a cost comparison between Timeshare Title and First American? Thanks!

I can tell you our experience with First American and Timeshare Title. We were the sellers with FA and Buyers with TT. We sold 150 PTS BCV buyer paid $719 in closing cost with FA. We are buyers for 160 PTS AUL closing cost with Fidelity's Admin Fee was $830, but we were able to secure a AUL contract at a lower cost thru Fidelity, which saved us much more than the CC difference. I have no complaints with Timeshare Title, I love the online status update.

 

[SuzGM84]

Would you mind sharing a cost comparison between Timeshare Title and First American? Thanks!

I think it was pretty comparable.