Resale Timing Using Fidelity

[Moniqu17]

Thanks everyone for the information! It sounds like unless something goes wrong everything should be complete before the banking period ends, but something I should bring up tomorrow when I call Fidelity.

 

[NoleFan]

You piqued my interest so I had to go back to my first contract and see what my specifics were. Here is my timeline on my first contract timeline. Will you please, please, please stop speaking in absolute terms. I understand this was a year ago, but here it is. 2 days from offer to contract:

http://disboards.com/showpost.php?p=44759762&postcount=39

The one thing that it seems Fidelity and their closing companies do differently is Estoppels. They wait until ROFR clearance and the others do it during ROFR.

And then I went back to my second one, offered June 8th, Friday, received contracts the same day and sent to ROFR on Tuesday the 12th. Documented in threads I have started.

Really, a timeline from 1 years ago?? That's like looking at prices from now & 1 years ago. Why bother- totally irrelevant? How is that valid to someone in today's market? Can anyone else offer up getting their contract in the same amount of time (or prior) or closing faster than Fidelity's competitors within the last 6 months? If the delay in getting closing documents is waiting for estoppels, why does it take almost a week to get contract that others get usually in a day? FYI, Magic Vacation Title (TTS) gets estoppels after ROFR and I had my closing documents 3 days after closing. If I compare my March timeline to another posted that had their offer submitted 1 day prior to mine, my contract closed 2 weeks prior to them with proof by OCC site. That's a relevant comparison- 1 years ago not so much.

 

[NoleFan]

We just got work today that we have closed on our contract!

To give the timeline:

March 10th (Saturday)--Offer made and contract signed
March 12th (Monday)--Contract went to ROFR
April 11th (Wednesday)--Found out we passed ROFR
April 18th (Wednesday)--Received Closing Documents
April 19th (Thursday)--Overnight check and closing documents
April 23rd (Monday)--Found out Escrow closed and we have been sent to Disney!

I just cannot believe we closed in less than 2 weeks from passing ROFR! Glad our seller was fast too. Now just waiting to get into the Disney system.

I cannot say enough great things about TSS and Magic Vacation Title!

3/6 offered and accepted
3/8 my contracts go back signed
3/12 sellers contracts signed, they didnt have email, had to use mail
3/14 sent to ROFR
4/10 28 days and still no word. Hopefully hear by the EOW
4/12 passed rofr
4/19 informed estoppels all good and in hand of title ccompany
.
.
.
and that is the last i have heard, no closing docs yet.......why can't everyone be as profficient? we were on the exact same timeline give or take a day, and now all has stalled for me....oh well, not mad , just giving updates for the masses

BTW.....................CONGRATS!!

yep you too.....9 days from rofr to receiving closing docs.....seems this is where fidelity lags from other posts i have read.

I prefer this timeline comparison from around 1 year ago. This seems more accurate since you are comparing timelines from companies during the SAME time frames.

http://www.disboards.com/showthread.php?p=44677952#post44677952

 

[Missyrose]

Really, a timeline from 1 years ago?? That's like looking at prices from now & 1 years ago. Why bother- totally irrelevant? How is that valid to someone in today's market? Can anyone else offer up getting their contract in the same amount of time (or prior) or closing faster than Fidelity's competitors within the last 6 months? If the delay in getting closing documents is waiting for estoppels, why does it take almost a week to get contract that others get usually in a day? FYI, Magic Vacation Title (TTS) gets estoppels after ROFR and I had my closing documents 3 days after closing. If I compare my March timeline to another posted that had their offer submitted 1 day prior to mine, my contract closed 2 weeks prior to them with proof by OCC site. That's a relevant comparison- 1 years ago not so much.

Geez, you don't have to be mean about it. Ever stop to think it's been a while since Fmer55 has checked in with the DVC boards? He bought more than a year ago and probably saw everyone bashing Fidelity and wanted to add that they aren't as bad as others would like to make them out to be. You don't have to crucify him for not knowing about the great March frenzy of 2013. Just simply suggest the difference between a year ago and move on.

 

[Countryrunner262]

Geez, you don't have to be mean about it. Ever stop to think it's been a while since Fmer55 has checked in with the DVC boards? He bought more than a year ago and probably saw everyone bashing Fidelity and wanted to add that they aren't as bad as others would like to make them out to be. You don't have to crucify him for not knowing about the great March frenzy of 2013. Just simply suggest the difference between a year ago and move on.

Agreed, I didn't put the post but found it a little extreme. There are ways to say things without coming off rude.

 

[Illini Al]

I very recently used Fidelity. Very good experience. From the time my offer was accepted until my points were available was 74 days.
I was never in any rush. I just wanted everything to go smoothly.

 

[NoleFan]

Geez, you don't have to be mean about it. Ever stop to think it's been a while since Fmer55 has checked in with the DVC boards? He bought more than a year ago and probably saw everyone bashing Fidelity and wanted to add that they aren't as bad as others would like to make them out to be. You don't have to crucify him for not knowing about the great March frenzy of 2013. Just simply suggest the difference between a year ago and move on.

While I see your point of view on this, I felt my response was justified based on responses I have received from Fmer55 on this thread & another previous one. In addition, based on threads I have read, I a pretty certain that Fmer55 is aware of current market conditions. If there was not a history of less than pleasant responses with Fmer55, I certainly would not have posted such an extreme response. Certainly this forum is to help others & take into account different experience levels. However, since I had gotten 2 "snarky" responses from Fmer55 (prior to posting this response), I felt compelled to set the record straight.

 

[agie65]

While I see your point of view on this, I felt my response was justified based on responses I have received from Fmer55 on this thread & another previous one. In addition, based on threads I have read, I a pretty certain that Fmer55 is aware of current market conditions. If there was not a history of less than pleasant responses with Fmer55, I certainly would not have posted such an extreme response. Certainly this forum is to help others & take into account different experience levels. However, since I had gotten 2 "snarky" responses from Fmer55 (prior to posting this response), I felt compelled to set the record straight.

NoleFan you are right, I have used fidelity more than any body else in the forum. Question everybody is asking why fidelity takes so long? What is the reason? And why don' t they move on to other closing company who can do the same job in faster rate. Yes everybody is paying those closing cost and admin fee any justification for that with the slower work response time? Every one is here to give insight to others, as a buyer and seller not as a broker or closing agent.

 

[NoleFan]

NoleFan you are right, I have used fidelity more than any body else in the forum. Question everybody is asking why fidelity takes so long? What is the reason? And why don' t they move on to other closing company who can do the same job in faster rate. Yes everybody is paying those closing cost and admin fee any justification for that with the slower work response time? Every one is here to give insight to others, as a buyer and seller not as a broker or closing agent.

Thank you! BTW, I love seeing all the great deals you have gotten on all your contracts. Enjoy using those points! Can't wait to see what else you add on!!

 

[agie65]

Thank you! BTW, I love seeing all the great deals you have gotten on all your contracts. Enjoy using those points! Can't wait to see what else you add on!!

Lot more at the disney, some waiting to go, scared of mouse now since I escaped so far.

 

[NoleFan]

Lot more at the disney, some waiting to go, scared of mouse now since I escaped so far.

Keep the passing streak going!

 

[fmer55]

Geez, you don't have to be mean about it. Ever stop to think it's been a while since Fmer55 has checked in with the DVC boards? He bought more than a year ago and probably saw everyone bashing Fidelity and wanted to add that they aren't as bad as others would like to make them out to be. You don't have to crucify him for not knowing about the great March frenzy of 2013. Just simply suggest the difference between a year ago and move on.

Thanks Missy, I am here plenty, thanks for having my back though

I am in the midst of closing my 3rd contract since last year. And another was lost at closing.

Agreed, I didn't put the post but found it a little extreme. There are ways to say things without coming off rude.

Rude is fine by mean, if you are correct, the problem I have is someone who has been posting for 2 months, and has been a member of DVC for about a week and a half, speaking in absolute terms.

Right or wrong, people come here to obtan information about spending thousands of dollars. They deserve to have the correct answers.

While I see your point of view on this, I felt my response was justified based on responses I have received from Fmer55 on this thread & another previous one. In addition, based on threads I have read, I a pretty certain that Fmer55 is aware of current market conditions. If there was not a history of less than pleasant responses with Fmer55, I certainly would not have posted such an extreme response. Certainly this forum is to help others & take into account different experience levels. However, since I had gotten 2 "snarky" responses from Fmer55 (prior to posting this response), I felt compelled to set the record straight.

Not snarky, I have simply asked that you do not speak in absolute terms when the answer may not be 100% true. You have been around for some of the craziest times DVC resale has seen. BWV has gone from 50-75 in 12 months. The point I am making over and over is that these are not normal DVC times we are going through right now.

 

[NoleFan]

Rude is fine by mean, if you are correct, the problem I have is someone who has been posting for 2 months, and has been a member of DVC for about a week and a half, speaking in absolute terms.


Not snarky, I have simply asked that you do not speak in absolute terms when the answer may not be 100% true. You have been around for some of the craziest times DVC resale has seen. BWV has gone from 50-75 in 12 months. The point I am making over and over is that these are not normal DVC times we are going through right now.

Point 1- I, personally, have only been a member for short time. However, my family has owned for several years.

Point 2- How I speak is my business, not yours. You do not have the power or ability to tell me how I can or can not talk- period. Of course, these are not normal times. However, in my previous post, I verified a common trend we have seen with Fidelity then & now. Yes, they quite often have the best prices but more often than not (imo always), their service is slower than their competitors now or years ago. The timelines previously identified in this thread support that.

 

[fmer55]

Point 1- I, personally, have only been a member for short time. However, my family has owned for several years.

Point 2- How I speak is my business, not yours. You do not have the power or ability to tell me how I can or can not talk- period. Of course, these are not normal times. However, in my previous post, I verified a common trend we have seen with Fidelity then & now. Yes, they quite often have the best prices but more often than not (imo always), their service is slower than their competitors now or years ago. The timelines previously identified in this thread support that.

10 day delay to save $2g on a product that will last between 29 and 47 years. I'll take my time

 

[Moniqu17]

I know everyone is entitled to their own opinion, but it's due to threads like this that I really dislike posting to forums. I tend to be a lurker, but came here to try and get advice and make better informed decisions. I'm not sure why I need to be criticized for thinking that Fidelity is slower. Perhaps I don't have years of experience, but what little I do have I can say that they are being slow when dealing with me. I can't get them to respond to emails, haven't received a response to any of my voicemails, and am having a hard time getting a response to my question for an approximate time I can expect the contract. I got a hold of the person I am working with and after asking about my contract she put me on hold for over 15 minutes. My phone got disconnected so I called right back and had to leave a voicemail. Never got a response. I really do feel that this is slow and wouldn't be tolerated where I work no matter how busy I am. Perhaps things will change in a month, but at this moment in time they seem slow in my opinion.

I don't mean to offend, but I'm only looking for advice and help which I am very appreciative to the people who have helped me thus far! Just taking the time to read all the threads on DVC has been a great help as well as everyone taking the time to answer all of my newbie questions. I just feel that there might be nicer ways of telling people that they are misinformed.

 

[fmer55]

I know everyone is entitled to their own opinion, but it's due to threads like this that I really dislike posting to forums. I tend to be a lurker, but came here to try and get advice and make better informed decisions. I'm not sure why I need to be criticized for thinking that Fidelity is slower. Perhaps I don't have years of experience, but what little I do have I can say that they are being slow when dealing with me. I can't get them to respond to emails, haven't received a response to any of my voicemails, and am having a hard time getting a response to my question for an approximate time I can expect the contract. I got a hold of the person I am working with and after asking about my contract she put me on hold for over 15 minutes. My phone got disconnected so I called right back and had to leave a voicemail. Never got a response. I really do feel that this is slow and wouldn't be tolerated where I work no matter how busy I am. Perhaps things will change in a month, but at this moment in time they seem slow in my opinion.

I don't mean to offend, but I'm only looking for advice and help which I am very appreciative to the people who have helped me thus far! Just taking the time to read all the threads on DVC has been a great help as well as everyone taking the time to answer all of my newbie questions. I just feel that there might be nicer ways of telling people that they are misinformed.

I want to apologize to you for turning this thread into a he said/she said. I hope you have nothing but good communication from here on out. Relax, sit back and don't sweat what you can't control.

Best of luck with your purchase, sorry again.

 

[NoleFan]

10 day delay to save $2g on a product that will last between 29 and 47 years. I'll take my time

Depending upon the size of the contract & total overall cost savings, the potential time delays may or may not be worth it to a potential buyer. That is an individual decision and to each their own. The issue in this thread was timing delays with Fidelity. It has been proven now & 1 year ago that Fidelity does take longer (receipt of contract from offer acceptance & receipt of closing documents after passing ROFR which is title co. issue) than their competitors. Fidelity does offer a large inventory of contracts & commonly offers the lowest negotiated pricing. However, a buyer (especially a new buyer) should know from the on go that when dealing with Fidelity, the timeline will typically be longer than that of their competitors. The trade off is the potential savings & selection of contracts. Only each buyer knows what is best for their individual situation. Good luck to all.

 

[ELMC]

Depending upon the size of the contract & total overall cost savings, the potential time delays may or may not be worth it to a potential buyer. That is an individual decision and to each their own. The issue in this thread was timing delays with Fidelity. It has been proven now & 1 year ago that Fidelity does take longer (receipt of contract from offer acceptance & receipt of closing documents after passing ROFR which is title co. issue) than their competitors. Fidelity does offer a large inventory of contracts & commonly offers the lowest negotiated pricing. However, a buyer (especially a new buyer) should know from the on go that when dealing with Fidelity, the timeline will typically be longer than that of their competitors. The trade off is the potential savings & selection of contracts. Only each buyer knows what is best for their individual situation. Good luck to all.

For what it's worth, I have worked with fidelity on a statistically significant number of contracts in the past 18 months. Only recently have their timeframes been outside of the parameters of the other resale companies.