Thoughts on resale via Fidelity?

[Chili327]

A lot of the disboards dvc old timers used him. Lol.

Gotcha, yea I’m pretty new.

 

[LilyJC]

Tell fidelity you want to use Jeffrey sweet title. It’s not the broker that matters but the title company. As a buyer by law you get to pick the title company. Don’t let them talk you out of Jeffrey sweet.

Correct me if I’m wrong, but I’m fairly certain Jeffrey Sweet is not an option with an Aulani purchase (which OP is interested in buying resale). Title company is much more limited when buying Aulani points.

 

[we"reofftoneverland]

Correct me if I’m wrong, but I’m fairly certain Jeffrey Sweet is not an option with an Aulani purchase (which OP is interested in buying resale). Title company is much more limited when buying Aulani points.

Unfortunately, you are correct. I think Hilton Head and California also have to be local but not positive.

 

[CWTC]

Thank you for the title company info - I hadn’t even thought about the local requirement of Hawaii vs Florida for title company. That does limit things.

Again thanks for everyone’s input!!!

 

[buzzrelly]

We bought from Fidelity and used First American Title and had no issues at all. It all went very smoothly and quickly.

 

[tom1944]

Who is Jeffrey Sweet?
I’m not that knowledgeable about all the ins and outs, but have done a lot of reading and researching over the last year or 2 and don’t recall ever hearing that name.
Is it just one guy and that’s the name of the title company?

When I check the deeds I see his titles fairly often.

 

[tom1944]

We bought from Fidelity and used First American Title and had no issues at all. It all went very smoothly and quickly.

I also see their titles

 

[AwfulWaffle]

No issues here either, have used them multiple times. Delays by sellers but that is of no fault of theirs. Granted I would rather do without the service fee but most time the sellers will pay it.

 

[DonMacGregor]

Unfortunately, you are correct. I think Hilton Head and California also have to be local but not positive.

They don't have to be local, but they do need to be registered ("admitted") in the state they are operating in.

I have purchased several Aulani contracts through one of the brokers that can't be mentioned, and they use an outfit called Hayes Title in Oklahoma.

 

[Nikkimouse44]

I’m waiting for ROFR from Disney right now on a contract with them. This is our first ever purchase. The broker who we are working with has been super responsive. He called me the day we put in the offer to talk it over, called the sellers, called us back that they accepted (all on a Sunday) and explained the process.

We got the contract Tuesday and we had some questions. He took various phone calls from me and my husband while he was on vacation and passed us to someone who was able to answer some questions he wasn’t 100% certain about and we heard from that person the same day.

We signed the contract and paid the deposit, our contract agent put it through to Disney that same day (Thursday). We heard from the title company today (Tuesday after Christmas). I did ask the title company two questions via email and they didn’t respond yet, but I don’t always reply to my own work emails same day so as long as they reply by Thursday morning I’ll be happy.

I have been reading threads, and will be making sure the correct points that we are purchasing and banking are in the account and such, as the sellers are selling two almost similar contracts so I might “annoy” them but rather do it now and not have to hunt them down if there are errors.

Welllllll I got our first amendment to our contract with fidelity today and the only reason we’re pissed about it is because before we signed the contract we asked them specifically about this (it had to do with the name on the contract) and they told us that it was fine.

They said Disney was requesting the change.

We signed and it got sent back to Disney today. Hopefully it doesn’t delay ROFR and start the process over again because I was already anxiously refreshing my emails every five minutes.

 

[KAT4DISNEY]

Welllllll I got our first amendment to our contract with fidelity today and the only reason we’re pissed about it is because before we signed the contract we asked them specifically about this (it had to do with the name on the contract) and they told us that it was fine.

They said Disney was requesting the change.

We signed and it got sent back to Disney today. Hopefully it doesn’t delay ROFR and start the process over again because I was already anxiously refreshing my emails every five minutes.

Something like that doesn't normally change the ROFR timeline.

 

[Nikkimouse44]

Something like that doesn't normally change the ROFR timeline.

Is it typical for Disney to ask them to amend a contract to change a name (basically adding “the third” to the end of a name) while reviewing and not approve or deny the contract? That seems so small, and then Disney would have to review something again to make a decision. Idk if it’s a good sign, bad sign, or maybe there’s more information that wasn’t passed along to me except “sign this addendum” and I should call again.

 

[paults]

We bought from them in 2003 and never had an issue with anything. Of course 20 years later anything can change.

 

[KAT4DISNEY]

Is it typical for Disney to ask them to amend a contract to change a name (basically adding “the third” to the end of a name) while reviewing and not approve or deny the contract? That seems so small, and then Disney would have to review something again to make a decision. Idk if it’s a good sign, bad sign, or maybe there’s more information that wasn’t passed along to me except “sign this addendum” and I should call again.

Reports pop up periodically although I'd bet there are times when they say nothing about that specific change they asked for yours. They won't approve or deny though until after getting whatever they want but it often seems to be left right on the top of the pile. And I cannot recall an instance where they asked for something and then took the contract in ROFR so it's possible they actually have decided. Hopefully that's the case for you!

 

[LindyDis]

My first resale purchase with Fidelity was smooth and flawless. In fact, I was pleased when I found a second resale contract to buy and it was through Fidelity as well.

The second purchase is still in process and is taking longer than first one. That being said it is probably due in part to the holiday season. One hiccup was the title company asked me for my SSN, stating the seller was an international one. I had asked the real estate agent about this prior to bidding as I didn't want to deal with that complication. He said they were not an international seller. I asked the title company to double check. They did and got back to me quickly. One of the sellers is a US citizen but the other is not, hence the confusion. Since one is a citizen it is not an international sale.

In the meantime, I have learned there are liens on the deed. I am not sure if this contributing to the delay. The title company thought we'd be closing this week but it seems unlikely at this point. I am going to reach out to them tomorrow. Have to say I am a bit worried about making sure the seller pays the dues that I had to reimburse them for considering the liens appear to be for past dues and interest. The title company says they are not on the outstanding list for 2024 dues. Previously, I had thought the title company paid the dues directly to Disney. Then I saw the final sales agreement showing it is a reimbursement to the seller.

Anyway, so far I still feel comfortable with Fidelity. Their admin fee is annoying but the prices are so low it is worth it. Basically at this point, I am worrying and fretting about things that have not happened yet.

 

[Jimmy Geppetto]

My first resale purchase with Fidelity was smooth and flawless. In fact, I was pleased when I found a second resale contract to buy and it was through Fidelity as well.

The second purchase is still in process and is taking longer than first one. That being said it is probably due in part to the holiday season. One hiccup was the title company asked me for my SSN, stating the seller was an international one. I had asked the real estate agent about this prior to bidding as I didn't want to deal with that complication. He said they were not an international seller. I asked the title company to double check. They did and got back to me quickly. One of the sellers is a US citizen but the other is not, hence the confusion. Since one is a citizen it is not an international sale.

In the meantime, I have learned there are liens on the deed. I am not sure if this contributing to the delay. The title company thought we'd be closing this week but it seems unlikely at this point. I am going to reach out to them tomorrow. Have to say I am a bit worried about making sure the seller pays the dues that I had to reimburse them for considering the liens appear to be for past dues and interest. The title company says they are not on the outstanding list for 2024 dues. Previously, I had thought the title company paid the dues directly to Disney. Then I saw the final sales agreement showing it is a reimbursement to the seller.

Anyway, so far I still feel comfortable with Fidelity. Their admin fee is annoying but the prices are so low it is worth it. Basically at this point, I am worrying and fretting about things that have not happened yet.

Hate to be the bearer of bad news but it’s still considered an international sale even if one seller is US citizen. The IRS will require your SSN on the transaction as you (the buyer) are liable for the one seller’s FIRPTA tax in the event they don’t pay. The international sellers FIRPTA tax due will be 7.5% (half) of the standard 15%.

Any good title company will hold this back on your behalf. Just make sure you are using a good title company who handles these types of sales.

 

[BrianLa]

3 of my 4 resale contracts were through Fidelity with 2 different brokers. 2 went smoothly while the 3rd had an issue with the title company misspelling my email address. Tough to place the blame on Fidelity for that one as they had no trouble emailing me. I will repeat what others have said, stay on top of any broker. If you expect a document back on Monday, if its not there by Tuesday, follow up with a call or email. That is how I found out the title company had wrong email address.

 

[station]

We purchased our one and only contract using Fidelity and after finally getting it in our hands, we ended up with missing points. Fidelity assured us throughout the process everything was correct and post-rofr the point summary matched the terms, and the title company could only defer to fidelity, and I could only check for myself after getting access from Disney.

Besides this, earlier in the process, the agent working with my sale seemed to mix up the contract with another, and just didn't seem very diligent with details.

EDIT/UPDATE: I provided more detail in another thread; but my issue ended up being resolved by Disney, and it is unclear how it happened in the first place. However, I was made whole per the terms of the purchase contract, and the deal I bid on ended up being the deal I got. Fair is fair. I was wrong to jump to conclusions. Your mileage may vary.

 

[DVCSunDevil]

We bought a BCV resale contract through Fidelity. I could not have been happier with how the process went. First, Fidelity’s pricing was EASILY the best. Second, our agent was responsive and replied to our emails and calls in a timely manner. Third, the process was MUCH faster than I thought it would be. I know every situation is different, but we had the points in our account 5 weeks after our initial offer was submitted. There were points that were close to expiring, so our agent helped move the process along so that we could get that last minute trip booked.

Every broker had their issues from what I understand. I wouldn’t hesitate to use Fidelity again.

 

[hokiekkghl]

We bought our first 2 contracts through Fidelity this past fall. The first broker was much more on top of things than the second but both contracts moved through their system quickly, without error, and were closed with points in account (first was as a new member) within 28 and 32 days respectively. With all the comments I've seen lately I would definitely take extra care making sure things were correct along the way but still wouldn't hesitate to use them again based on their excellent prices and past positive experiences.