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

[aceshigh73]

Live look at Fidelity, Cammy, and Disney rushing to help you....

 

[pianomanzano]

Fidelity makes how much in commission per contract again? The fact that they’re not willing to make the buyer whole for less than 4,000 and have decided it’s better to ignore the buyer says a lot more about them than they could ever put in words.

Don’t forget the bogus $250 admin fee, despite no type of administration actually going on!

 

[tom1944]

View attachment 819898

Live look at Fidelity, Cammy, and Disney rushing to help you....

I cannot see what Disney was expected to do. Fidelity yes and I would contact Cammy about putting in a claim with the title insurer.

 

[CarolynFH]

I'm confused how you can be billed by DVC for membership fees on points they know you didn't get.

Keep in mind that MFs are for operations and maintenance of the home resort for the calendar year, 2024 in this case. OP is now an owner at BCV and is legally responsible for paying those MFs, whether they get to use the points for Use Year 2023 or 2024 or not. That’s why “who pays what calendar year dues” for resale contracts is a matter of negotiation between buyer and seller.

 

[aceshigh73]

I cannot see what Disney was expected to do. Fidelity yes and I would contact Cammy about putting in a claim with the title insurer.

They can easily make an exception because an Octogenarian misunderstood how cruise pts work and deposit them back into Moo's account and this saga is over!

 

[tom1944]

They can easily make an exception because an Octogenarian misunderstood how cruise pts work and deposit them back into Moo's account and this saga is over!

I would want the Octogenarian to provide a release of those points before I just removed them.

Disney is not to blame or responsible for this. They should be the last entity to fix it and only once they can be sure that none of it could fall back on them for what they do.

 

[TheDailyMoo]

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!

 

[AstroBlasters]

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!

A problem is that it’s not “Disney”. It’s “Disney Cruises” and “Disney Vacation Club”, which are two separate entities under one parent company. Such a mess…. if the cruise was cancelled, then who controls those points?

 

[DonMacGregor]

They can easily make an exception because an Octogenarian misunderstood how cruise pts work and deposit them back into Moo's account and this saga is over!

An alleged octogenarian to be clear.

Nothing else that @TheDailyMoo has been told (aside from the most recent update regarding Cammy) has been straightforward or proven to be true. I buy "my sweet old grandmother made a mistake while baking brownies" just about as much as "my dog ate it".

 

[Sandisw]

Fidelity makes how much in commission per contract again? The fact that they’re not willing to make the buyer whole for less than 4,000 and have decided it’s better to ignore the buyer says a lot more about them than they could ever put in words.

Exactly! The contract states the remedy…and it on them to make sure it’s paid if there is an issue.

Maybe that is why DVCRM now has it in the contract that they will make buyer whole and then they can deal with seller.

 

[Sandisw]

A problem is that it’s not “Disney”. It’s “Disney Cruises” and “Disney Vacation Club”, which are two separate entities under one parent company. Such a mess…. if the cruise was cancelled, then who controls those points?

The points simply expire because reservation points can’t be converted back to DVc since the DVC room that was associated with those points was already pulled and sold for cash.

Basically, they are considered used if the membership is dissolved.

 

[tom1944]

What is the title company expected to cover for the buyer?

 

[Cfabar1]

Don’t forget the bogus $250 admin fee, despite no type of administration actually going on!

That fee is something I find appalling in general, and wish that these types of junk fees would not be permitted in these transactions.

 

[Nikkimouse44]

ooof! I’m in ROFR right now, and buying with fidelity. And now I am really really nervous! We signed the contract already, clearly, but I’ll see if I can get screenshots of their points if it passes before we get to closing. We didn’t get title insurance yet, as we read it was part of the process, but maybe we should add it on? Also - any title companies you all recommend? I’m hoping we hear back if we pass or not this week.

 

[Sandisw]

ooof! I’m in ROFR right now, and buying with fidelity. And now I am really really nervous! We signed the contract already, clearly, but I’ll see if I can get screenshots of their points if it passes before we get to closing. We didn’t get title insurance yet, as we read it was part of the process, but maybe we should add it on? Also - any title companies you all recommend? I’m hoping we hear back if we pass or not this week.

The title insurance will be included but it won’t cover something like this. That only protects you if there is an issue with transferring the ownership.

It still sounds like, in this case, there was an assumption that the reservation points that were in the account from a cancelation of a cruise would transfer to the new owner, but they do not.

it’s possible the owner didn’t even realize that once canceled, points from cruises return differently. But, getting screenshots for sure will help ease your mind, and the good part is that this happening is fairly rare.

 

[we"reofftoneverland]

ooof! I’m in ROFR right now, and buying with fidelity. And now I am really really nervous! We signed the contract already, clearly, but I’ll see if I can get screenshots of their points if it passes before we get to closing. We didn’t get title insurance yet, as we read it was part of the process, but maybe we should add it on? Also - any title companies you all recommend? I’m hoping we hear back if we pass or not this week.

Jeffrey Sweet title. Insist on it. His title company is excellent. We have bought several resale contracts. We have worked with Cammie and she is very nice but her contract (and that of every other title company besides Jeffrey Sweet) does not benefit the buyer. Her contract is a very convoluted contract. Also, ironically, Jeffrey Sweet is less expensive. I am convinced that is because he does not give a kick back to the broker. Some brokers will push back when you ask to use him. They like to use their “preferred” title company for obvious reasons. But by law they have to use the buyer’s choice.

 

[AnnaKristoff2013]

Well an update of sorts. Fidelity said they would book me a vacation with their points...I have no idea how a brokerage has a contract but whatever. I said no, that I had already booked my 2024 vacations. I would like the $25pp penalty listed in the contract. They got back to me today with what I was worried they would say...that they will be reaching out to the sellers to bill them. These sellers could take their time or not even pay it back at all. Meanwhile I'm out 150 points plus owing dues in three weeks. I'm not very happy about this at all! I said not only do I want the penalty but those owners that used the points should also pay the dues, just like in any contract where points are used. This is a bad situation all around and I have very little recourse except waiting and if that doesn't work out then litigation. I just wanted to use Stormalong Bay for my kid!

You should take Fidelitys points. You’re never seeing a dime from those sellers.

 

[tom1944]

Jeffrey Sweet title. Insist on it. His title company is excellent. We have bought several resale contracts. We have worked with Cammie and she is very nice but her contract (and that of every other title company besides Jeffrey Sweet) does not benefit the buyer. Her contract is a very convoluted contract. Also, ironically, Jeffrey Sweet is less expensive. I am convinced that is because he does not give a kick back to the broker. Some brokers will push back when you ask to use him. They like to use their “preferred” title company for obvious reasons. But by law they have to use the buyer’s choice.

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

 

[LittleBitGoofy]

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

No, Broker will handle the interaction. Just tell your broker who you want to use and they should coordinate the rest. You're paying for the settlement service, so it's your choice. Don't let them pressure you otherwise.

 

[tom1944]

No, Broker will handle the interaction. Just tell your broker who you want to use and they should coordinate the rest. You're paying for the settlement service, so it's your choice. Don't let them pressure you otherwise.

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