resale basic questions--especially Fidelity

[daisyx3]

we are interested in adding some DVC points at SSR (our current home). I want to keep the same resort and use year so I don't have to keep track of different contracts and use years. It would be a smaller contract, less than the 160 we have now.
I found a great contract at Fidelity that would meet our needs perfectly. However, if we buy now we would need to finance for a little bit until we sell a rental property (going on the market next week).
What are good financing vendors for this? And is Fidelity a good place to buy points? I did check other vendors and nothing meets my requirements. I really have no idea because when we bought our original points in 2008 we financed through Disney.
Be gentle with me, we've never bought resale.

 

[Doberge]

I bought through Fidelity and it was fine. Some communication issues but nothing to keep me from going back.

The Fidelity complaint is often their use of First American Title, but you can choose a different closing company if you desire. We didn't pay closing so we went through First American but had no issues.

 

[agirlcallededdy]

We brought a SSR contract through Fidelity and requested Mason title. Fine transaction.

 

[daisyx3]

My husband suggests getting a 1 or 2 year loan from our credit union to get us through the period of the home sale, is that doable?

 

[Ruttangel]

Just used Fidelity and Mason Title, all nice and smooth

 

[Jenniebee]

As an FYI Fidelity financing requires 20% down not 10% like all the others.

 

[BillPA]

Can you get a equity line of credit on your home? should be about 4% or less and can be paid off as soon as your sale closes on the rental property.

 

[GaSleepingBeautyFan]

We used Fidelity and First American title on our first resale contract 2 years ago. We had no problems.

Just this morning we signed another contract with them. Here's hoping it passes ROFR!

 

[Richard H.]

I used them in September '19 and had no issues with them. I did however have issues with
First American Title. I would avoid the Title company if possible.

 

[pineapplepalms]

We had a good experience with Fidelity and got a great price on VGF points that I couldn’t find elsewhere. First American was slow, so I would say try a different title company if you care about that. In our case I don’t know that it would have made a difference since the sellers were divorcing and taking a long time to send back their paperwork. This has happened each time with divorcing sellers regardless of the title company, because I don’t think they’re talking to each other anymore and have to go through the lawyers.

 

[ChandraM]

My husband suggests getting a 1 or 2 year loan from our credit union to get us through the period of the home sale, is that doable?

Yes, you can get a personal loan wherever you want. I didn't buy through Fidelity, but I found a great interest rate on a personal loan through Best Egg and as far as the broker and title company were concerned I was paying cash.

 

[hammer1995]

Personally I don't like Fidelity. They charge the buyer a bogus "admin fee" that inflates your cost per point. I own four contracts purchased through different agencies and I don't like doing business with them.

 

[mixmastertoy]

Bought 2 contracts last year... pretty seemless as long as you don't ask a lot of questions or want speed... that was fine for me. I was very happy with them and especially the price.

 

[Matty B13]

Bought through them once with no problem, more or less the same experience I went through with 2 other of the big brokers.

 

[Christiney]

We are just finishing up purchasing through Fidelity. Mason Title is the title company and everything has been great. Every time I email Bonnie, she gets right back to me and the same with Cammy at Mason. It has been an incredibly smooth process with them!! My only problem—-the seller has not returned the closing documents yet!! We have sent the funds and signed our closing.......just waiting on the seller now.... I just hope they are not backing out...

 

[Cyberc1978]

My transactions with fidelity have been positive up until yesterday except for slow slow first American.

yesterday I made a full price offer with the seller paying closing and me paying the dues on the remaining 2020 points seller paying the dues on the points he used.

Seller accepted and everything was supposed to be good, but wasn’t.

All of a sudden fidelity says that as part of the deal I had accepted that I would pay all 2020 dues.

I tried talking to fidelity but the agent said that that was how it was.

I of course ended up not buying the contract.

So be aware that what you offer is also what the agent/seller accepts. I’m just glad I didn’t waste too much time on it.

Also first American is their cheapest option but they are awfully slow working like really really slow.