Has anyone purchased a DVC contract through Fidelity?

[edk35]

I have my eye on a small contract. We went through Disney with our other contracts. Please advise.

 

[Chuck S]

Fidelity (formerly GMAC) seems to be hit & miss. Some people have great experiences buying resales through them, others seem to have somewhat major problems. They are probably the least recommended of the major DVC resellers, at least judging by threads here on the DIS.

 

[Sandisw]

There are other companies that will co-broker with Fidelity. That is what I did because I was a bit unsure to deal with them.

 

[kyle051777]

I just closed with fidelity last month and I would recommend working with Sharon. She was awesome. I had many questions as this was my first contract and she was very helpful. I also got a great price.
Good luck,
Kyle

 

[htmlkid]

Just closed today with Sharon. See Resale timeframes I just posted if your intetested in how long it took.

 

[edk35]

I actually spoke with Sharon today. I called on a 100 pt. contract and it was GONE. So she said she would put me on the list to call before they are actually listed online.

 

[DonnaL]

We purchased a 50 point SSR resale from Fidelity/Rachel in July....however, we haven't closed yet. Everything went very smoothly from acceptance of contract to signing closing documents. I checked Orange County Comptroller website BEFORE we made offer and found no outstanding liens against owners.....however, it now appears on the website as if the owners did not pay their annual fees and when the contract was sent to DVC for ROFR a lien was filed by DVC for this years dues. As a result, our payment was sent to title company (Cammy from First American has been very responsive also) two weeks ago and we thought closing would be within a few days of payment receipt by First American......it now seems to me that the owners are dragging their feet signing since they know the lien will need to be paid from the proceeds and are probably not going to make anything on the sale after their costs are paid. I'm really hoping it's only a short delay and someone from either Fidelity or First American can sort of force the owners hand...so to speak..since the contract is actually a wedding gift for our son and daughter-in-law and it's an April use year so is not too close to banking deadline if they don't choose to use the points this year.....however, they may try to get something for New Years Eve and the first few days of January.....doubtful at this point......but you never know.

 

[n2mm]

I just bought my first resale through Fidelity and everything seems to be moving forward. I too am dealing with Sharon. I have learned (the hard way) that things move quickly with this company (and other companies too) and you have to be ready to pouce if you see a contract. I've learned that they update on Fridays. I managed to get a pretty good deal by not hesitating on the deal I just got. I hestiated the first time and lost it. Once Fidelity sells a contract, they do not list the info on their website right away. So for the entire week it appears there are some good deals, when acutally that good deal is probably gone at 9:00AM on Monday morning. They are not open on the weekends, but you can call and leave a message, plus you can email them too. To get my deal, I called and left a message, left an email and called first thing on Monday @ 9:00AM.

I did try Fidelity on my first attempt, but got Rachel and she would not return my phone calls or emails, so I did hestiate going with them the second time I saw a good deal, but I'm glad I did.

I got an add on for additional points for one of the homes I already own and with my same UY. I was happy, but it did take patience.

 

[Havana]

We purchased from Fidelity this spring. Overall we were happy with the process and their service. Communication lag was my biggest complaint. We would leave a message or email and it wasn't uncommon for us to not receive a response until we called again to follow up.

 

[SanDeeKath]

Just bought BCV through Fidelity (Sharon) and she was fantastic. She would sometimes reply to my emails within 5 MINUTES! It was amazing. I think she's on line all the time. The transaction was totally smooth (as long as the seller is quick to sign forms too, which mine was). We passed ROFR within 2 weeks, and then I got the update email from her saying we passed and the deed is going for recording. 10 days later, the points were in my account with Disney.

Cannot recommend them enough!

Katherine

 

[Joey7295]

I have bought 5 contracts from Fidelity and have always worked with Sharon.

 

[fers31]

I've bought 5 contracts with them and have worked with Rachel every time. She's very good to work with but they are SWAMPED over there and it's hard to get them to call you back. You're better off calling them and they will gladly take the time to talk with you. I have one contract in ROFR right now and just hoping it passes. Plus, they get MUCH lower priced contracts than the Timeshare Store. Every time I've called them I've gotten an attitude and if I mentioned a lower price, they kind of scoffed at me. I'm more than happy to get all of my contracts through Fidelity. -Scott

 

[alice99]

Fidelity (formerly GMAC) seems to be hit & miss. Some people have great experiences buying resales through them, others seem to have somewhat major problems. They are probably the least recommended of the major DVC resellers, at least judging by threads here on the DIS.

I agree with this.

I put a bid on a small contract through them , then was told what the closing costs would be...... they were double what other resale realtors were charging.
I then went to another resale company and waited for another contract to become available.


Seems like they may have changed their ways..... seems to be quite a few happy Fidelity customers.

 

[wdwnomad]

I agree with this.

I put a bid on a small contract through them , then was told what the closing costs would be...... they were double what other resale realtors were charging.
I then went to another resale company and waited for another contract to become available.


Seems like they may have changed their ways..... seems to be quite a few happy Fidelity customers.

You do have the ability to chose your own closing company. You don't have to go with who the real estate company chooses. Most people don't bother but you do have that option if you wanted to purchase through Fidelity.

There are many closing companies mentioned on the boards so it shouldn't be that hard to find another one.

 

[nitrot150]

we just closed on ours (waiting for our papers) with Rachel, and things went great!

 

[alice99]

You do have the ability to chose your own closing company. You don't have to go with who the real estate company chooses. Most people don't bother but you do have that option if you wanted to purchase through Fidelity.

There are many closing companies mentioned on the boards so it shouldn't be that hard to find another one.

This was 3 years ago, so I am having a hard time remembering exactly what the fees were..... but, in addition to the traditional/typical/normal closing costs, Fidelity charged their own fee of 200$.... I cannot remember what they called it , but I called it a rip-off. I refused to pay it, and told them I wouldn't purchase the contract from them unless they waived the fee. I took my business elsewhere, had to wait about 5 weeks for another suitable contract to come up, but was happy with the company I ended up purchasing with..

 

[SanDeeKath]

This was 3 years ago, so I am having a hard time remembering exactly what the fees were..... but, in addition to the traditional/typical/normal closing costs, Fidelity charged their own fee of 200$.... I cannot remember what they called it , but I called it a rip-off. I refused to pay it, and told them I wouldn't purchase the contract from them unless they waived the fee. I took my business elsewhere, had to wait about 5 weeks for another suitable contract to come up, but was happy with the company I ended up purchasing with..

Maybe 3 years ago but no fees now. Not sure why it would be relevant given that a LOT of time has passed since you had this strange experience...

They use a very reputable escrow company to do all their closings (some resale places don't) and closing fees are the standard fees that most every other company including the TSS charge. No additional fees now, that's for sure.

Katherine

 

[edk35]

SO far so good with fidelity. They are not as fast with the paperwork at TSS though. Also, their paperwork was more involved but nothing too bad. Just different. Hopefully all will go well. We are only paying closing, no extra fees.

 

[icydog]

There are other companies that will co-broker with Fidelity. That is what I did because I was a bit unsure to deal with them.

That's brilliant. I just made an offer on a BCV contract. Should I contact the other broker now or wait till the owner accepts my offer?

 

[ovalhead96]

I just signed the contracts yesterday. I have been dealing with Rachel, and she has been excellent.

Let's see how quickly I go through the rest of the process. so far so good!