Fidelity

[Renee H]

Fidelity is not a dedicated DVC broker so their knowledge is sometimes lacking. In addition they still have a business relationship with DVD (Disney) as does Vacatia. They get referrals and contracts from Disney to sell.The $195 fee for Fidelity is thought to cover the fee paid to Disney for the listing.

Bill

What do you mean they get contracts from Disney? This statement confuses me!

 

[KAT4DISNEY]

What do you mean they get contracts from Disney? This statement confuses me!

Fidelity and Vacation are the brokers that DVC recommends when an owner calls in to DVC because they want to sell their contract. ie - they get the referral. And it's been assumed they get the referral because they pay DVC a fee to be recommended.

 

[Renee H]

Fidelity and Vacation are the brokers that DVC recommends when an owner calls in to DVC because they want to sell their contract. ie - they get the referral. And it's been assumed they get the referral because they pay DVC a fee to be recommended.

Oh... makes sense!

 

[thelionqueen]

I try to avoid them. I used them 4 years ago for my first purchase because I didn't know better. They lack courtesy to return calls for sold listings, so you have to call many times just to find out the listing sold.

The high closing costs along with a out of left field fee are ridiculous.

Avoid them.

I disagree with the closing costs. I found them to be much cheaper than any of the others by more than 35%. I did request another title company other than FA though. Who did have higher fees

 

[disneynutz]

Fidelity and Vacation are the brokers that DVC recommends when an owner calls in to DVC because they want to sell their contract. ie - they get the referral. And it's been assumed they get the referral because they pay DVC a fee to be recommended.

Reviewing their listings it also seems that for some reason, Disney actually sends them contracts to sell.

Bill

 

[Patricksp]

Never heard of Vacatia before, thanks

I will be in the market next year,

I have used Fidelity and like others have said you have to be on top of them.

 

[CarAnn]

Every experience is different and I am just sharing mine. As background, I have experience as a project manager/business analyst/tester within IT and am highly organized. I keep notes on things. I am, however, pretty easygoing and not in a rush for things to happen nor am I particularly demanding. I like to be informed on status and to just have a good feeling that progress is being made.

My first purchase was with Fidelity using First American. My second purchase was and third purchase is with another company (the same one for both) but also using First American.

With my first purchase, there were special circumstances with the sellers related to their ability to sell and that complicated things a little bit. My contract was submitted on 4/13/17 and we completed the closing on 7/28/17. While I will never know for sure, I do not think the special circumstances are the complete cause for things taking as long as they did. There was some churn between 4/13 and when I was told that I passed ROFR on 6/5/17 that I think could have been reduced. I didn’t receive closing papers until 7/18/17 so there was more churn there.

For my second purchase, my contract was submitted on 10/29/17 and we completed the closing on 12/12/17.

For my third purchase, my contract was submitted on 2/26/18. I had my closing papers on 3/16/18. When I received my last update from First American, they were simply waiting on the seller to return their documents.

When I look at my notes for my first transaction, it is a very long list. I see that I only received updates and saw forward movement when I followed up. I often see that I wrote down that they indicated that they were just checking on the status. I saw some comments on follow up with First American once we got to the part where they had tasks to complete. First American did provide me regular updates once I received the closing papers.

When I look at my notes for my second and third transactions, the lists are much shorter. I received updates on a regular basis from both the broker and First American.

My situation may be unique but I would likely approach things differently with Fidelity in the future and follow up on a regular basis rather than just doing so when I hadn’t heard anything.

 

[KAT4DISNEY]

Every experience is different and I am just sharing mine. As background, I have experience as a project manager/business analyst/tester within IT and am highly organized. I keep notes on things. I am, however, pretty easygoing and not in a rush for things to happen nor am I particularly demanding. I like to be informed on status and to just have a good feeling that progress is being made.

My first purchase was with Fidelity using First American. My second purchase was and third purchase is with another company (the same one for both) but also using First American.

With my first purchase, there were special circumstances with the sellers related to their ability to sell and that complicated things a little bit. My contract was submitted on 4/13/17 and we completed the closing on 7/28/17. While I will never know for sure, I do not think the special circumstances are the complete cause for things taking as long as they did. There was some churn between 4/13 and when I was told that I passed ROFR on 6/5/17 that I think could have been reduced. I didn’t receive closing papers until 7/18/17 so there was more churn there.

For my second purchase, my contract was submitted on 10/29/17 and we completed the closing on 12/12/17.

For my third purchase, my contract was submitted on 2/26/18. I had my closing papers on 3/16/18. When I received my last update from First American, they were simply waiting on the seller to return their documents.

When I look at my notes for my first transaction, it is a very long list. I see that I only received updates and saw forward movement when I followed up. I often see that I wrote down that they indicated that they were just checking on the status. I saw some comments on follow up with First American once we got to the part where they had tasks to complete. First American did provide me regular updates once I received the closing papers.

When I look at my notes for my second and third transactions, the lists are much shorter. I received updates on a regular basis from both the broker and First American.

My situation may be unique but I would likely approach things differently with Fidelity in the future and follow up on a regular basis rather than just doing so when I hadn’t heard anything.

Fidelity often gets "troubled" contracts since they get the referrals from Disney and that can happen for various reasons including that the owner is in arrears on their loan, on dues etc.

Also, I believe that just ROFR was taking close to a full 30 days and Estoppel coming back from DVC seemed to be at a turtles pace back around the time you purchased with Fidelity. It is an experience but may not be indicative of the broker and more circumstance but that's hard to say.