DVC RESALES
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Old 06-07-2013, 09:59 AM   #1
blessed2BaMama
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Fastest resale company from ROFR waiver to points available with Disney?

Hello all, We are currently waiting on ROFR with a contract with Fidelity. As I read ans studied everyones opinions and experiences on the lists before making the the offer/contract, I was pretty sure we wanted to work with Sharon at Fidelity as they have a tremendous inventory and she is known as efficient. As I am now in the waiting on ROFR stage, it appears that many people have had problems with the slowness of Fidelity in getting the closing docs fast and paperwork conveyed to Disney in a rapid manner. We are considering another contract but wonder if another company is faster from ROFR to points in account? Do you have any experience that might help with Fidelity or others (we know we need same UY, so I mean experience with resale companies) ?
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Old 06-07-2013, 10:06 AM   #2
Splashboat
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I think it is luck of the draw. With our current purchase, we had all our initial paper work and ROFR go very smooth. I have been waiting for the sellers to sign for a 13 days and there is no indication they are in a rush - so, my point it, there are many variables that can hold things up you just have to find a good contract and be patient. (Should have mentioned we used TTS)

Last edited by Splashboat; 06-07-2013 at 10:12 AM.
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Old 06-07-2013, 10:06 AM   #3
dmunsil
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I don't have nearly enough experience to know which is "fastest" but we just closed on a sale through the Timeshare Store and Magic Vacation Title, and they were both blazing fast. The only delay was with the sellers getting the final docs in. If not for that, it would have been one of the shortest timelines you can imagine. (And not to knock the sellers; it can be hard to get to a notary and everything. They weren't extra-slow, just slower than the rest of the process.)

Last edited by dmunsil; 06-07-2013 at 10:24 AM.
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Old 06-07-2013, 10:23 AM   #4
Minniesgal
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Once it goes in to the ROFR process Fidelity has very little to do with it, the rest is done but the closing company and they use more than one which are also used by other brokers. So post ROFR delays are not broker dependent.
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Old 06-07-2013, 10:55 AM   #5
nabi
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TTS was fast (and keeping us informed, EVERY step of the way, certainly made the time go by faster).

Then we bought from dvcbyresale.com. They were efficient, the closing company didn't communicate as much, but the points were in our account BEFORE we even received a letter from them stating the closing was complete (not complaining, believe me, it was just neat to have them show up one day, unexpectedly).
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Old 06-07-2013, 02:00 PM   #6
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Smile

We had good experiences with both DVC by Resale & TSS. In this "hot" market, it might be best to look for the contract & price that is right for you. Inventory is so limited these days. Good luck in your search!
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Old 06-07-2013, 02:53 PM   #7
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There are too many variables in the process to either give credit or assess blame to a broker. There are five parties involved (seller, buyer, broker, closing company, DVC Member Administration) and issues with any of those can slow things down...or stop the process entirely.

Here are a few of the things that can slow down the process after ROFR approval:
  • Slowness in receiving the notification of ROFR approval (e.g. being closed on weekends)
  • Slowness on the part of the closing company in sending out the documents
  • Slowness by either the seller, buyer, or both in getting the documents back quickly. Lots of reasons for that -- vacations, seller/buyer living outside the US, buyers/sellers remorse, etc.
  • Inability to close on the part of the seller. Some sellers are underwater with their loans and will have to pay IN to close because the proceeds don't cover the loan. Sometimes, they don't really understand that until they receive the closing docs. (That really should never happen...but it does.)
  • Errors in the documents -- misspelled names, wrong legal descriptions, etc, etc.
  • Slow closing due to backlogs, disorganization, whatever.
  • Slowness in the BUYER remitting the balance to close.
  • Slowness in sending the documents to Disney
  • Slowness by Disney in creating the account and loading the points
If things don't seem to be going smoothly, it's probably a good idea to do a LOT of followup...especially with Fidelity. The squeaky wheel does get the grease.

Last edited by JimMIA; 06-08-2013 at 10:03 AM. Reason: typo
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Old 06-07-2013, 03:49 PM   #8
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Quote:
Originally Posted by JimMIA View Post
.[*]Slowness in the seller remitting the balance to close.
Question: Does the seller have to pay up front to close? I assumed the fees came out of the $$ when they receive their check from the broker.
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Old 06-07-2013, 03:56 PM   #9
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Quote:
Originally Posted by Splashboat View Post
Question: Does the seller have to pay up front to close? I assumed the fees came out of the $$ when they receive their check from the broker.
They have to pay if they are underwater in their mortgage. The purchase price wouldn't cover the entire payoff amount, and then the seller has to provide the balance in cash.
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Old 06-07-2013, 03:59 PM   #10
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I can say that I passed ROFR on May 13, closed on May 28th (official notice), and it's been with Disney since then. I was able to call MS today and they were able to tell me that I'm still not in the system 10 days after I closed. I called in the hope of getting my number but the first woman said she wasn't allowed to. 2nd call resulted in me changing my questions to wanting to know if we were in the system already and finding out that we were not.
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Old 06-07-2013, 04:07 PM   #11
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I can say that I passed ROFR on May 13, closed on May 28th (official notice), and it's been with Disney since then. I was able to call MS today and they were able to tell me that I'm still not in the system 10 days after I closed. I called in the hope of getting my number but the first woman said she wasn't allowed to. 2nd call resulted in me changing my questions to wanting to know if we were in the system already and finding out that we were not.
We closed on our first contract middle of May. Just got membership number via snail mail June 3. 2nd contract closed and sent to Disney- see how long this one takes. Title co. Said around it takes about 14 BUSINESS days for Disney to do transfer plus time to get letter. Plus, in midst of VGF sales- eek!
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Old 06-07-2013, 04:21 PM   #12
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The Timeshare Store has always been very responsive and quick for me.
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Old 06-08-2013, 10:06 AM   #13
JimMIA
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Quote:
Originally Posted by JimMIA
Slowness in the seller remitting the balance to close.
Quote:
Originally Posted by Splashboat View Post
Question: Does the seller have to pay up front to close? I assumed the fees came out of the $$ when they receive their check from the broker.
That was a TYPO! Should have read buyer.

dmunsil's explanation of my typo is correct -- the seller would have to pay in if the proceeds of the sale were not enough to pay off their mortgage, sales commission, and other costs.
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Old 06-09-2013, 01:24 PM   #14
the who #3
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Smile best/fastest resale co

i don't know anything about fidelity, but i really believe in the timeshare store.

have used them many times and trust them completely.
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Old 06-09-2013, 01:47 PM   #15
JWG
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We had good luck with DVC by Resale. Purchased a day before the resale rule changes and they pushed it through for us.

I think the main resellers are all good with the occasional hick up. Fidelity is the known slow poke, but often working with distressed contracts and other challenges.
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