Fidelity Real Estate Resales Back on The Market

[DJRUK]

Going through a sale with Fidelity ourselves at the moment - seem okay so far. Not the quickest at replying to offers, but negotiated and settled on a price nonetheless (12.5% under asking). Contract was issued quickly and accurately.

Using DVC Title & Escrow (Cammy), so we are very happy to pay a little more based on the reviews and feedback on the forum. As mentioned, up to $5k on credit card for the deposit.

Currently 3 days into ROFR, and starting to feel like forever!

 

[Jimmy Geppetto]

This may be slightly off topic, when you talk about putting the payment on CC which part are you referring to? the initial deposit? or the balance after it passes ROFR?

I have 2 contract currently under ROFR and I would love to put as much down on CC as possible and then pay it off shortly after (I heard 5k max mentioned couple times before, which will totally be fine with me). I'm under contract with Fidelity and just decided to use DVC Title and Escrow as recommended by Fidelity.

You can put the deposit on CC up to $5000 (with DVC Closings). But let’s say the deposit is only $1000, then you can put an additional $4000 on CC at closing and wire the remaining funds.

I always put the lowest I can on deposit and then max out the charge for CC at closing. I’ve done this with Mason ($7500 maximum) and DVC Closings ($5000 max). No problems at all.

 

[dealz2012]

We used mason with fidelity and 7500 on a CC no fee and 3% after that. Using a 1.5-2% cashback subtract wire fee it gets really close to a wash on cost. 0% apr for 15 months on a new CC (freedom unlimited) was what made this an easy decision to put the whole closing funding on a CC despite the fee.

 

[Chili327]

You can put the deposit on CC up to $5000 (with DVC Closings). But let’s say the deposit is only $1000, then you can put an additional $4000 on CC at closing and wire the remaining funds.

I always put the lowest I can on deposit and then max out the charge for CC at closing. I’ve done this with Mason ($7500 maximum) and DVC Closings ($5000 max). No problems at all.

That’s where I always go wrong, I put the max on the deposit, then closing is still a lot more, a small contract is usually almost paid off by the time it closes. lol

 

[jksung5295]

You can put the deposit on CC up to $5000 (with DVC Closings). But let’s say the deposit is only $1000, then you can put an additional $4000 on CC at closing and wire the remaining funds.

I always put the lowest I can on deposit and then max out the charge for CC at closing. I’ve done this with Mason ($7500 maximum) and DVC Closings ($5000 max). No problems at all.

People earlier said deposit only... when do i need to tell them that i would like to put it on credit card? This will give me little more time to gather the funds (charge it to credit card and pay it off after statement closes) for the 2 contracts that i wasn't planning on buying

 

[Jimmy Geppetto]

People earlier said deposit only... when do i need to tell them that i would like to put it on credit card? This will give me little more time to gather the funds (charge it to credit card and pay it off after statement closes) for the 2 contracts that i wasn't planning on buying

Put the deposit on CC. Let’s say that is $1000. When the title company sends you the closing statement and docs (after passing ROFR) advise the closing agent you want to put an additional $4000 on credit card and wire the remaining funds. OR… you can pay $4000 on CC without a fee and pay the remaining funds on CC but with a processing fee (usually 3%). Then no wire is needed.

 

[jksung5295]

Put the deposit on CC. Let’s say that is $1000. When the title company sends you the closing statement and docs (after passing ROFR) advise the closing agent you want to put an additional $4000 on credit card and wire the remaining funds. OR… you can pay $4000 on CC without a fee and pay the remaining funds on CC but with a processing fee (usually 3%). Then no wire is needed.

Just signed up Capital One Spark Cash Plus card. Here i come $30,000 spend requirement! With these DVC purchases that should be a breeze and that $2000 sign up bonus should more than cover the processing fee.

Thanks all for confirming that this was possible, I was hesitant that I would only be able to do the deposit. If it doesn't work, what's couple more credit pulls

 

[heynowirv]

We have bought at least 3 contracts thru Fidelity and like any other real estate deal you must read your contract. As other's have said there are other brokers whose title companies have higher fees, and they don't give you a choice. I know who we like to deal with and have had no problem voicing and working with that company. As far as the "Admin Fee" we have paid it and we have not paid it, it's all negotiable.

 

[LiamLogan2510]

We used mason with fidelity and 7500 on a CC no fee and 3% after that. Using a 1.5-2% cashback subtract wire fee it gets really close to a wash on cost. 0% apr for 15 months on a new CC (freedom unlimited) was what made this an easy decision to put the whole closing funding on a CC despite the fee.

This is smart. Do any other cards make sense to use for a better cash back rate or does is the 1.5% on Freedom Unlimited the best rate for resale?

 

[davidhr]

This is smart. Do any other cards make sense to use for a better cash back rate or does is the 1.5% on Freedom Unlimited the best rate for resale?

The best strategy is always opening a new card with a good bonus.

 

[atthebeachclub]

The best strategy is always opening a new card with a good bonus.

Also Fidelity (the investment company) and Citi offer 2% cashback cards; Fidelity’s deposits the cash back to your investment accounts. But you’ll get more with a credit card signup bonus.

 

[Billychris]

Currently adding a contract through Fidelity, and it's my first time using them. I spoke with the agent prior to them submitting the offer to the seller. The offer was presented, then accepted the following day. I am happy to pay the $225 servicing fee, being that I have a dedicated coordinator that is very responsive, along with my very nicely priced accepted offer. I did try to present an offer with a different company, but they were more like a road block (I withdrew my offer before it was even presented), while Fidelity very professionally saw my offer through. I would certainly seek out Fidelity contracts in the future as opposed to other brokers that I have used or tried to present offers with in the past.

 

[disneylandtour]

Currently adding a contract through Fidelity, and it's my first time using them. I spoke with the agent prior to them submitting the offer to the seller. The offer was presented, then accepted the following day. I am happy to pay the $225 servicing fee, being that I have a dedicated coordinator that is very responsive, along with my very nicely priced accepted offer. I did try to present an offer with a different company, but they were more like a road block (I withdrew my offer before it was even presented), while Fidelity very professionally saw my offer through. I would certainly seek out Fidelity contracts in the future as opposed to other brokers that I have used or tried to present offers with in the past.

I've used Fidelity many times. It's all gone fine. Unless it's a large contract, Mason is likely your lowest cost title company. One of the things I like about Fidelity is that they don't try to push you in a co-owned or "incentivized" partner title company.

 

[Billychris]

I've used Fidelity many times. It's all gone fine. Unless it's a large contract, Mason is likely your lowest cost title company. One of the things I like about Fidelity is that they don't try to push you in a co-owned or "incentivized" partner title company.

Exactly, I was treated like I was in charge of my journey, and not pushed into their own interest. I wanted to try DVC Tittle because I read great things about Cammy in here, and Fidelity still said that I didn't have to use their recommended DVC Tittle if I didn't want to. Just a comfortable process.

 

[disneylandtour]

Exactly, I was treated like I was in charge of my journey, and not pushed into their own interest. I wanted to try DVC Tittle because I read great things about Cammy in here, and Fidelity still said that I didn't have to use their recommended DVC Tittle if I didn't want to. Just a comfortable process.

As a rule I'm VERY wary of situations where brokers try to push (or sometimes force) you into a particular title company. This is all about protecting their financial interests, not mine. I'd say about half of the brokers try to push (or in some cases insist) on one or two title companies, and about half are open. The title company SPECIFICALLY protects the buyer's interest, so I don't want someone else picking this because it increases their profit.

 

[VGCgroupie]

Currently adding a contract through Fidelity, and it's my first time using them. I spoke with the agent prior to them submitting the offer to the seller. The offer was presented, then accepted the following day. I am happy to pay the $225 servicing fee, being that I have a dedicated coordinator that is very responsive, along with my very nicely priced accepted offer. I did try to present an offer with a different company, but they were more like a road block (I withdrew my offer before it was even presented), while Fidelity very professionally saw my offer through. I would certainly seek out Fidelity contracts in the future as opposed to other brokers that I have used or tried to present offers with in the past.

I agree. They take your offer confirm it and submit it. No telling you how they feel about your offer or how they think the seller will feel. They are also known to submit your offer right away and not wait for better offers.

 

[hokiekkghl]

As someone who has bought all 2, hopefully soon to be 3 resale contracts through them. I'm happy to pay the fee for the low prices, ability to select the title company, and willingness to take first offer. I never dreamed we'd have gotten our current BLT offer and I suspect we were the first full price, if not first, offer and it was such a good deal I figured someone who bid over would get it. I'm sure we'll buy resale again and they will be the first place I look.

 

[Billychris]

I agree. They take your offer confirm it and submit it. No telling you how they feel about your offer or how they think the seller will feel. They are also known to submit your offer right away and not wait for better offers.

This! If I am contacting you (Broker) I am not taking into consideration some one's feelings on price. You absolutely never know the seller's situation or desired outcome. Seller's aren't afraid to come back with ONLY taking a single dollar off either. I made (3) offers, and 2 were with one broker. The 2 with one broker never were submitted because she gave every reason under the sun in emails how to do it correctly. At the same time, the offer I placed with Fidelity was confirmed, then placed and excepted no questions asked, (Great!)

 

[Billychris]

As someone who has bought all 2, hopefully soon to be 3 resale contracts through them. I'm happy to pay the fee for the low prices, ability to select the title company, and willingness to take first offer. I never dreamed we'd have gotten our current BLT offer and I suspect we were the first full price, if not first, offer and it was such a good deal I figured someone who bid over would get it. I'm sure we'll buy resale again and they will be the first place I look.

Good luck on the 3rd! I was on the hunt to add Boulder, and my wife was all for it as well, UNTIL she wanted DVC Club level at Animal with complimentary food. Pastries wins every time. lol

 

[Girlstar30]

I love Www.fidelityrealestate.com, they gave me a wonderful price on SSR fast that saved me way more than their $200 something fee, they never told me that my offers were too low like the competitor, they aren't fake, they are no nonsense.

Them coupled with Mason Title is my dream team. My second contract went fast and this one is coming along nicely, I expect to probably close next week.