Experience with Fidelity?

[jupers]

Originally Posted by dbs1228

PP I am glad to hear your experience I am working with Shawn on the contract I am buying and she did get back to me promptly through negotiations and I also talked to Sharon who was quite helpful.

The difference I can see for me is: Fidelity: my offer was excepted on Thursday around 4:00PM I got a email saying congrats we need the names and spelling of people on contract ect... I emailed info immediately and have not heard anything since but Shawn did say I should have a contract emailed to me on Monday.

Timeshare store (I am selling a contract):Got a call at 11:00AM with an offer, agreed to the offer and was told a email would come shortly. By 1:00PM email contract received - printed it when I got home, signed and faxed it back to TSS at 3:30 by 4:30 I got a email saying that contract was being sent to Disney TODAY for ROFR and we should know within 30 days.

I had a great experience with fidelity 2 years ago.

[fmer55]

Originally Posted by JimMIA

I think the vast majority of resale transactions go through without a hitch.

But my experience here on the DIS is this: IF there is going to be a problem, it will occur with Fidelity. NObody else has the problems these folks have...NObody.

One strategy some have used successfully is to go through another broker for contracts you see on Fidelity's site. TTS doesn't co-broker, but the other two frequently-mentioned firms do. Using a co-broker doesn't cost a cent, and the other firms seem to be more diligent and competent than Fidelity.

To be fair, and it has been mentioned elsewhere, Disney refers distressed sellers to Fidelity, and many of the problems are people who do not know they owe money at closing.

I would like to think the more savy seller would use one of the other brokers, but I do not think you can find lower prices than Fidelity when buying.

Just one man's opinion.

I am in the process of closing my 3rd contract with Fidelity with no issues.

[ninjagirl]

Originally Posted by fmer55

To be fair, and it has been mentioned elsewhere, Disney refers distressed sellers to Fidelity, and many of the problems are people who do not know they owe money at closing.

I would like to think the more savy seller would use one of the other brokers, but I do not think you can find lower prices than Fidelity when buying.

Just one man's opinion.

I am in the process of closing my 3rd contract with Fidelity with no issues.

I actually think Fidelity is getting better at cutting these problems off. They were several contracts that we discussed with them about that were non negotiable because of high payout. If it was just one, I'd say it was an educated seller. We experienced that three times with them in particular.

[PCMama]

Originally Posted by JimMIA

I think the vast majority of resale transactions go through without a hitch.

But my experience here on the DIS is this: IF there is going to be a problem, it will occur with Fidelity. NObody else has the problems these folks have...NObody.

One strategy some have used successfully is to go through another broker for contracts you see on Fidelity's site. TTS doesn't co-broker, but the other two frequently-mentioned firms do. Using a co-broker doesn't cost a cent, and the other firms seem to be more diligent and competent than Fidelity.

So if I see another contract on fidelity's site all I need to do is call one of the others? I am DISO a VGC contract and for some reason fidelity always has a lot of inventory, but I'm weary of sending over that much money to them with so many problems.

[minnime]

I have worked with both the Timeshare Store and Fidelity either buying or selling. No problems with either. Sometimes (more often than not) problems that occur are not the fault of the broker. Sellers do stupid things that hold up the sale and the title companies also make mistakes.

[lville23]

My first experience with Fidelity I found out that the contract I had negotiated with the seller on actually included banked 2011 points that were not advertised or disclossed until I received the contract. Good for me right... well, the price was too good with all the banked points and Disney ROFR'd it. Second contract, which was actually two smaller contracts with the same seller made it through ROFR but the seller backed out once they received closing documents because they "owed too much" and could not bring money to closing. Wasted two months with Fidelity on these contracts. I feel a more professional handeling by the broker could have prevented both issues. I fully expect to see the two small contracts back on the market soon.

[PCMama]

Originally Posted by lville23

My first experience with Fidelity I found out that the contract I had negotiated with the seller on actually included banked 2011 points that were not advertised or disclossed until I received the contract. Good for me right... well, the price was too good with all the banked points and Disney ROFR'd it. Second contract, which was actually two smaller contracts with the same seller made it through ROFR but the seller backed out once they received closing documents because they "owed too much" and could not bring money to closing. Wasted two months with Fidelity on these contracts. I feel a more professional handeling by the broker could have prevented both issues. I fully expect to see the two small contracts back on the market soon.

Couldn't the ROFR have happened with any broker?

[lville23]

Originally Posted by PCMama

Couldn't the ROFR have happened with any broker?

A ROFR could happen on any contract with any broker. However, in this case the listing and ensuing negotiations were based on inaccurate data. Data that the broker should have known. A basic duty of the broker is to get the contract details correct in a listing and they failed to do this. Based on only my experience with them it is hard to comprehend how they are able to charge a premium to the buyer for thier service.

[ninjagirl]

Our contract wasn't ROFR'ed, but there was 100 2012 points that weren't listed on the website. I think most of the brokers use three years of points (the same way that Disney does when listed in your membership numbers) and Fidelity would be wise to start doing the same, or at least list the ones with points on the website so that buyers know. I'm fairly certain it would help the sellers potentially get more, and help the buyers when making an offer or knowing what they're getting. We were told much later that the reason why weren't listed is because they were close to expiring (3-4 months out from expiring)

[wooclan]

I bought a resale throught TTS, worked with Jamie Carr 6 mos ago. I was lagging a bit, she was great with making sure I stayed on top of everything. I've been back hunting through both. Well, Fidelity is slow with responding via website and direct email. Def not customers (buyers) first mentality IMO. But what can you do? If you see something they list that you like, what choice do you have but keep email/call/leave messages? I wish there was a way you can contact some of these owners directly.

[dbs1228]

I do have to say in the past I have had communication issues with Fidelity but in the past month while I have been looking for a resale they have been great! I have gotten through to someone every time I have called and I have had my emails answered in a timely manner.