**UPDATE** Has this happened to any other resale buyers? Fidelity made it right!

[LittleBitGoofy]

Do you verify with the title company what the cost is or trust the broker

Title co will reach out to you throughout the process. Broker will just initiate the process with them. You can always call the title co first for estimates and compare costs then pick your preference.

 

[we"reofftoneverland]

Does the buyer need to contact the title company when they select a different company than the broker wants to use?

You let the broker know. They will act like the title company has already been chosen/is a done deal unless you speak up. They WILL NOT tell you that you have a LEGAL right to pick the title company. I say they will not because we have purchased 6 resale contracts with different brokers and we have never been informed of this. I found out this info on these boards from “old timers.” (lol). Now I am trying to return the favor. They always just assign you to their preferred title company. And I am pretty sure there is a kickback relationship in all cases, because all title companies cost more than Jeffrey Sweet and he is awesome, actually better than the competition.

 

[Cfabar1]

Don’t know anything about Jeffrey sweet, but I would not be surprised to hear of kickbacks between title companies and brokers.

Heck one big broker basically forces you to use “their broker”, which is a sister company owned by their parent company… borderline unethical.

 

[DonMacGregor]

I just couldn't bring myself to use someone called Jeffrey Sweet, only because there is a personal injury lawyer out here in SoCal called "Sweet James", and his face is plastered on billboards all over LA. I know it's illogical and I'm sure Mr. Sweet is a fine and reputable lawyer, but reasons.

 

[DVCSunDevil]

Yeesh what a nightmare! Ngl now I’m little nervous with my fidelity contract that’s currently in closing

FWIW, we used Fidelity on our BCV resale purchase and had zero issues. Our agent was extremely responsive and answered any of our questions in a timely manner. Best of all, Fidelity was easily the best price. We also had the points in our account 5 weeks after our initial offer was submitted. I wouldn’t worry about your contract. From what I hear, every agency has their issues.

 

[AnnaKristoff2013]

FWIW, we used Fidelity on our BCV resale purchase and had zero issues. Our agent was extremely responsive and answered any of our questions in a timely manner. Best of all, Fidelity was easily the best price. We also had the points in our account 5 weeks after our initial offer was submitted. I wouldn’t worry about your contract. From what I hear, every agency has their issues.

I used Fidelity twice. Both times went seamlessly. As a buyer their prices are definitely consistently lower than the board sponsor. In addition, their contracts generally aren’t as stripped as the board sponsor.

 

[htguy]

I just couldn't bring myself to use someone called Jeffrey Sweet, only because there is a personal injury lawyer out here in SoCal called "Sweet James", and his face is plastered on billboards all over LA. I know it's illogical and I'm sure Mr. Sweet is a fine and reputable lawyer, but reasons.

View attachment 822227

His ads are in Northern California as well!

 

[intamin]

I used Fidelity twice. Both times went seamlessly. As a buyer their prices are definitely consistently lower than the board sponsor. In addition, their contracts generally aren’t as stripped as the board sponsor.

Agreed. Usually the prices will be the same price per point but if anything Fidelity will have current UY points or be loaded and the board sponsor will be stripped so you’re giving up a vacation to work with DVCRM.

Fidelity has great deals but god it seems like they have the most errors in their work. I would still use them but triple check everything as you should regardless of broker but with extra vigilance with Fidelity.

 

[lilsonicfan]

You let the broker know. They will act like the title company has already been chosen/is a done deal unless you speak up. They WILL NOT tell you that you have a LEGAL right to pick the title company. I say they will not because we have purchased 6 resale contracts with different brokers and we have never been informed of this. I found out this info on these boards from “old timers.” (lol). Now I am trying to return the favor. They always just assign you to their preferred title company. And I am pretty sure there is a kickback relationship in all cases, because all title companies cost more than Jeffrey Sweet and he is awesome, actually better than the competition.

I will say that I bought my contract with Fidelity as broker and the agent did tell me I could choose my title company, they did not direct me to anyone at all.

 

[Cfabar1]

Placed an offer with Fidelity yesterday, we shall see if I hear back....

 

[KAT4DISNEY]

Placed an offer with Fidelity yesterday, we shall see if I hear back....

I always follow up with a call. I know.....so old school.

 

[DVCNewb21]

Used Jeffrey Sweet twice and found his office to be efficient with excellent communication. Think his office was in Ormond Beach.

 

[PCDisFan]

I have an update! So out of everyone involved it was Cammy that eventually reached out to me. Basically I questioned what exactly happened. Apparently the sellers booked then cancelled a cruise in early October almost a full month before our closing. I asked if the points were verified. She said they were. I questioned how that could be if the dashboard does not show the points anymore once that happens? She didn't know. She basically said this was on Disney and that she or someone there, was in the process of trying to get Disney to reverse the reservation points back into the account. I have to assume Cammy was telling the truth. I'm relaying the information as I was told it and understood it. She very easily could've been protecting someone else be it her higher ups or Fidelity or both but I took her word for it.

I do want to say Cammy spoke to me multiple times during the day and at least she was kind and responsive and MOST IMPORTANTLY apologetic. I don't know who the blame falls on (I suspect multiple parties) but the way Cammy handled the situation was professional and in a manner consistent with trying to help a client that got the shaft. I would absolutely work with her again and want to make sure others know that she is, at the end of the day, looking out for her clients.

I was adamant that we come up with a resolution ASAP as this was a very stressful time of year to begin with and this was not helping at all! She agreed and we did work on a resolution. I'll let the board know the details when it actually is all said and done as there are some moving parts...one of which is waiting to see if Disney does indeed reverse the points...I'm not exactly holding my breath they will but I'm willing to wait and see.

I appreciate the support as this really could happen to any of us that buy resale contracts. You just want to know that what you purchase is what you get and if not then someone will take care of it as fast as reasonably possible. Just communicate don't leave clients hanging!

Any update??

 

[TheDailyMoo]

Any update??

None. I'm waiting for Cammy to get back to me. She said her contact (I'm not even sure it's her or the owner's or whoever) at Disney (management?) was away until yesterday. I guess this person is the one responsible with making the decision to reinstate the cancelled reservation points back into my account. Like I mentioned previously...I'm not holding my breath!

 

[HyperspaceMountainPilot]

I would follow up again tomorrow if you haven't heard anything. Definitely a situation where the squeaky wheel gets faster resolution.

 

[wishicouldgomoreofte]

I am sorry it happened. Since the contract was transferred to you already and is on your dashboard, it sounds like the owner transferred out the points since you don’t see the reservstion?

I’d go back to the title company because the sellers would owe you money for missing points. And, the title companies will check points based on what the owner submits to them…some believe that estoppel does it, but it does not…that is simply financial issues.

Hopefully, it gets fixed…oh, and yes, this has happened to people before and unfortunately, it’s been with the broker you used.

Isn't Fidelity the broker Disney used to recommend?

 

[karen4546]

I just looked at all BC points and played around with the math. It's a June contract and we closed a couple of weeks ago so the reservation had to be after June but before November. And there it is in October...a one bedroom, 2 weekend nights and 2 weekdays equal 150. Nothing else in any other room category in any permutation gets to 150. So they must keep borrowing the same points each year for the same trip in this particular contract.

2 studios for 5 nights in September is 150 pts Sunday-Friday.

booked that a few times.

 

[Sandisw]

Isn't Fidelity the broker Disney used to recommend?

I think it was.

 

[Jgc014]

None. I'm waiting for Cammy to get back to me. She said her contact (I'm not even sure it's her or the owner's or whoever) at Disney (management?) was away until yesterday. I guess this person is the one responsible with making the decision to reinstate the cancelled reservation points back into my account. Like I mentioned previously...I'm not holding my breath!

Curious - do you even want reservation points, or are you just good with anything at this point? Sorry you are (still) dealing with this.

 

[TheDailyMoo]

Curious - do you even want reservation points, or are you just good with anything at this point? Sorry you are (still) dealing with this.

No! In fact as resale I'm not allowed to have those points. That's where all this trouble comes from. Those points, the points I thought I was buying and was told I was buying, were turned into reservation points that would not revert back to a resale buyer. What I'm waiting on...and I don't see how it can happen...is for someone in DVC management to say ok we'll make an exception here and give the points back to this contract because we feel bad....yeah...there's a 99.9% chance that's not happening. Remember I was told it was Disney's fault...that they had checked the points before closing and supposedly they were there. I was asked to wait and see if they would "do the right thing" and give me back the points. I'm pretty sure it's just a saving face measure and they'll come back to me and say they declined to do it and here is you $25pp penalty refund. We'll see. I'm waiting till Monday I think that's sufficient time before I call and ask for a decision.