Resale Purchase Question - Is this Normal?

[Tonnerme]

We submitted an offer for a contract on 5 April, which was accepted on 8 April. Since 9 April, I have not heard a word from my agent. I contacted the Contracts Coordinator directly to get an update on 16 April and was told the contact had to be resent to the sellers. Since then, two further attempts to contact my agent have gone unanswered. Have others who purchased resale also experienced such delays in contact with the resale company?

 

[Great3]

No, that doesn't sound right. But seller not signing is out of control of the broker's hands. The broker should be giving you a status update, and I would contact the agent directly, not just the contract coordinator. Ask for a copy of the executed contract, and if there is none, consider withdrawing your offer since the contract is not executed yet and move on to another seller.

Great3

 

[pkrieger2287]

I agree... Not completely normal. Most agents I have worked with on resale contracts have been very prompt in returning any questions or concerns I had during the process.

 

[stewart715]

Not normal, should be well on its way to Disney for their ROFR. Can I ask what agent you are using? I'd say 9/10 resale contracts are through either DVC Resale Market or The Timeshare Store (DVCStore.com)...both of which I would be shocked if this ever happened to you through one of them.

 

[Tonnerme]

I’m using Fidelity. I’ve emailed the agent directly several times now, with no response.

 

[skippytx]

Definitely not normal. Time to pick up the phone and call them and see whats going on.

 

[miTnosnhoJ]

Not normal. There may be a good explanation, but I would look for an explanation. Have you put down a deposit?

 

[disneynutz]

Fidelity is known for there slow or no response so keep trying.

Bill

 

[BillPA]

Sounds normal for Fidelity, sorry you picked them, there are many much more reliable folks out there.

 

[Great3]

While not normal, I can see this happening with Fidelity. I have worked with two Agents at Fidelity, both Shawn Ray and Bonnie Krampe, and they are both responsive on phone. They might not always pick up their phones, but I just hang up and call back like every 1 hour or so until they pick up. I don't even bother leaving messages. I don't know which agent you are working with, but I find them both great to work with by phone, so I second the suggestion of calling them to talk, and tell them you are rescinding the offer / canceling since there's not an executed contract, and even if there is an executed contract, you have 10 days to cancel anyways.

If the seller is moving this slow to sign a sale agreement, I can't imagine how much slower the sellers will be moving when come time to sign closing docs.

Great3

 

[stuartsong]

Whatever you do, do not let Fidelity use First American as the title company. They are absolutely the worst.

 

[stewart715]

I’m using Fidelity. I’ve emailed the agent directly several times now, with no response.

Good to know.

 

[Tonnerme]

Not normal. There may be a good explanation, but I would look for an explanation. Have you put down a deposit?

Yes, we have put a deposit down.

 

[miTnosnhoJ]

Yes, we have put a deposit down.

If you have a deposit, the odds are that it is proceeding, but slowly. If it is a good deal for you, I would wait it out.

 

[chicagoshannon]

We are also using Fidelity this time. Started the process on Monday. Didn't hear from Bonnie until Tuesday. Offer finally accepted on Wednesday. We signed the contract yesterday(Thursday) and are now waiting on the sellers to sign I guess. Hoping that comes through today and gets set to Disney.

If the contract doesn't pass Disney ROFR I don't think we'll use Fidelity again. Last time we bought in 2015 (different company) everything was done same day from offer to contract to Disney.

 

[princessfionasmom]

Add us to the list of also using Fidelity this time. I sent an offer Wednesday night, got a phone call and email from Shawn yesterday morning to discuss offer. Received a call and email about an hour later that seller had accepted my offer and I should be receiving documents today or Monday to sign and send back. She said buyer is anxious to sell so fingers crossed they’ll be quick at getting all their documents signed too.

@stuartsong Thanks for the heads up on the title company. I didn’t even think that could be an issue. Do you have a title company you would recommend instead of First American?

 

[Best Aunt]

Wow, I have bought and sold with Timeshare Store and it was much faster. Offers accepted within hours of being made.

 

[chicagoshannon]

Add us to the list of also using Fidelity this time. I sent an offer Wednesday night, got a phone call and email from Shawn yesterday morning to discuss offer. Received a call and email about an hour later that seller had accepted my offer and I should be receiving documents today or Monday to sign and send back. She said buyer is anxious to sell so fingers crossed they’ll be quick at getting all their documents signed too.

@stuartsong Thanks for the heads up on the title company. I didn’t even think that could be an issue. Do you have a title company you would recommend instead of First American?

did you end up getting the contract today? I feel like the contract department might be part of the issue.

 

[princessfionasmom]

did you end up getting the contract today? I feel like the contract department might be part of the issue.

I didn’t get it today so fingers crossed I’ll get it Monday. I’ll keep you posted.

 

[chicagoshannon]

I didn’t get it today so fingers crossed I’ll get it Monday. I’ll keep you posted.

I'm still waiting for confirmation from the contract department that mine got sent to Disney. Hoping I get that Monday too. I signed all of our paperwork yesterday morning including our deposit. They hadn't charged my CC for that yet when I looked this afternoon.