Annoyed and Discouraged... Venting and thoughts welcomed. be gentle

[brinkley07]

We made the offer on Monday, contract Tuesday, and it was submitted to ROFR on Thursday.

When we purchased through Fidelity we had the fastest time frame, it was around 3 weeks total. The points were loaded around 2 weeks later. Granted sellers were very responsive and signed quickly as well.

 

[Boomatt]

The problem with Fidelity is that they encourage sellers to underprice their contracts in the hope of ROFR being enacted. ROFR is good for a broker. It’s clean, fast and there’s no concern of funding. Closing costs, which Fidelity still charges you for, are gone since Disney ROFR takes care of that.

Fidelity…

=bad for buyers as they’ll experience a higher incident of ROFR being exercised.

=great for sellers looking for the fastest turn around and bad for sellers that can wait and want the most out of their contracts.

 

[bumbershoot]

The daughter jsut happeneed to stop by when Fidelity called her and they talked to her then.

Having been a caregiver for an older, confused mother in law, I can understand. The conversations I used to walk into...

I'm sorry for the setback and I'm glad you found another contract so quickly and for less money.

 

[tom1944]

The problem with Fidelity is that they encourage sellers to underprice their contracts in the hope of ROFR being enacted. ROFR is good for a broker. It’s clean, fast and there’s no concern of funding. Closing costs, which Fidelity still charges you for, are gone since Disney ROFR takes care of that.

Fidelity…

=bad for buyers as they’ll experience a higher incident of ROFR being exercised.

=great for sellers looking for the fastest turn around and bad for sellers that can wait and want the most out of their contracts.

Is there data on this?

I did not offer a contract through Fidelity, but recent sales do not seem to indicate this.

 

[sethschroeder]

but we have a history of this broker having repeated issues of incorrect listings,

And I have a repeated history of other brokers ripping people off......

Ask for your own title company and don't use the default one with Fidelity if you are worried and request they double check all the information before sending off to ROFR if you have doubts.

 

[sethschroeder]

Fidelity…

=bad for buyers as they’ll experience a higher incident of ROFR being exercised.

Its almost like you can offer over asking if you want.....

Disney can not ROFR every contract if you said I could consistently buy under market price and it would have a 25%, 50%, 75% chance of ROFR I would do it every single time as a buyer.

If I was that worried about keeping a contract than I would offer more money or buy direct.

 

[RoseGold]

Fidelity…

=bad for buyers as they’ll experience a higher incident of ROFR being exercised.

This is a known thing with actual public records. Board sponsor seems to have plenty of ROFR, so this would really be a whole lot of ROFR. Is there data to support this?

 

[we"reofftoneverland]

The problem with Fidelity is that they encourage sellers to underprice their contracts in the hope of ROFR being enacted. ROFR is good for a broker. It’s clean, fast and there’s no concern of funding. Closing costs, which Fidelity still charges you for, are gone since Disney ROFR takes care of that.

Fidelity…

=bad for buyers as they’ll experience a higher incident of ROFR being exercised.

=great for sellers looking for the fastest turn around and bad for sellers that can wait and want the most out of their contracts.

This is silly. Sorry, it just is.

The brokers definitely have different tones. Choice is good. Some people are attracted to fidelity’s base level of service and other people want the more white glove service the board sponsor offers. Just be aware that service costs money. People have to be compensated for their time- it’s only fair. That goes for buyers and sellers.

On top of that, there are a variety of other brokers with their own “personalities.” I personally cannot stand interacting with salespeople or real estate people (also just salespeople) and love fidelity’s in and out approach. Frankly, if you don’t have anything to tell me, I don’t want to hear from you, so please don’t contact me with your “relationship” emails unless rofr is done. That’s my personality. I don’t want a broker to give me advice or tell me about the market. It’s a timeshare not a house on Miami Beach, so just let me bid what I want to bid or sell what I want to sell for end of story. If the thing doesn’t pass rofr big deal. Just let me bid again on another contract. No drama.

 

[Jayunit09]

This is silly. Sorry, it just is.

The brokers definitely have different tones. Choice is good. Some people are attracted to fidelity’s base level of service and other people want the more white glove service the board sponsor offers. Just be aware that service costs money. People have to be compensated for their time- it’s only fair. That goes for buyers and sellers.

On top of that, there are a variety of other brokers with their own “personalities.” I personally cannot stand interacting with salespeople or real estate people (also just salespeople) and love fidelity’s in and out approach. Frankly, if you don’t have anything to tell me, I don’t want to hear from you, so please don’t contact me with your “relationship” emails unless rofr is done. That’s my personality. I don’t want a broker to give me advice or tell me about the market. It’s a timeshare not a house on Miami Beach, so just let me bid what I want to bid or sell what I want to sell for end of story. If the thing doesn’t pass rofr big deal. Just let me bid again on another contract. No drama.

I will say maybe it’s just my experience but i certainly did not feel the white glove experience with the board sponsor. I will say that I did in the past when asking questions though, especially Andy he was awesome.

That being said, the title company rep I have dealt with so far has been amazing. She’s the best.

 

[sethschroeder]

That being said, the title company rep I have dealt with so far has been amazing. She’s the best.

You can name your title company through anywhere from my understanding you just need to specify otherwise they default to their normal option they use.

 

[AnnaKristoff2013]

Feeling a little better … thank you all for the thoughts and advice …found a different contract.
OKW 92.00 per point . 150 points
22/150, 23/150, 24/159 I pay closing costs .
We signed contract 2/17 seller signed Friday night .. now hoping it goes to ROFR by Monday !
Wish me luck

See, I told you that you’d end up with a much better contract. Meanwhile, the seller that stiffed you is probably SOL. Good luck selling that contract.

 

[AnnaKristoff2013]

The problem with Fidelity is that they encourage sellers to underprice their contracts in the hope of ROFR being enacted. ROFR is good for a broker. It’s clean, fast and there’s no concern of funding. Closing costs, which Fidelity still charges you for, are gone since Disney ROFR takes care of that.

Fidelity…

=bad for buyers as they’ll experience a higher incident of ROFR being exercised.

=great for sellers looking for the fastest turn around and bad for sellers that can wait and want the most out of their contracts.

Except Fidelity is great for buyers when Disney is doing no ROFR, which is what’s happening right now. I just had two contracts pass with them.

 

[Cfabar1]

I tried using Fidelity once… Found them slow to respond, hard to reach someone, complicated offer process, etc.

I enjoy my team with the board sponsor, enjoy the updates they send me, the fact I can text my broker and get a response quickly and efficiently. Given the big savings with resale, it is well worth the extra dollars. The board sponsor has a lot of delusional sellers, and sometimes I do question how much they will “push” for the buyer to get a better deal, but overall I am very pleased with them.

 

[BattyKoda]

My ROFR request appears to have taken a bit longer than some listed in this thread... via Fidelity.

Contract was signed by both buyer and seller on 2/16 (with Earnest money deposited on the same day). Email notifying contract has been sent to ROFR was not received until earlier today, a week later.

 

[AnnaKristoff2013]

My ROFR request appears to have taken a bit longer than some listed in this thread... via Fidelity.

Contract was signed by both buyer and seller on 2/16 (with Earnest money deposited on the same day). Email notifying contract has been sent to ROFR was not received until earlier today, a week later.

That was my experience with Fidelity as well. That said, It's worth the extra week to pay literally thousands of dollars less than the inflated prices on www.dvcresalemarket.com