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

[Leeesa]

Pure chaos .. I need thoughts..
I am the buyer through Fidelity.
Contract 2023/200, 2024/100 and so on i pay closing costs 102.00 per point at 10,200
Well.. signed contract... sent to ROFR...Disney says that contract has been sold already?!!
Seller gave incorrect information and now they have another contract with more points and obviously want more money. The seller is older and agreed (hasnt signed new contract yet) that she would do the same price for bigger contract.... and her daughter came over and said not so fast...
So waiting for a month signed original contract to find out the seller gave wrong information on previous sold contract.
Is there anything i can do or hold her to or just walk away...

Last

 

[pianomanzano]

Get your deposit back and walk away. Plenty of great deals out there right now. If you continue with Fidelity, try and get the admin fee waived because of these recurring issues they seem to have.

 

[Sandisw]

I am so sorry that you are going through this...unfortunately, I don't think there is anything you can do but walk away.

There are plenty of deals out there right now.

 

[Counting Stars]

In agreement with the posts above. Don't waste your time and energy. Request a refund of any funds paid to date and the date you can expect to see those funds returned to you.

 

[RoseGold]

Give them X days to sign on the new contract. Or just walk away. Plenty of contracts.

 

[Jwaire]

You can't force them to sell it to you. Just walk away and get your deposit back. It's a buyer's market right now.

 

[BillPA]

Deal with another resale brooker. Fidelity has had many posts here of folks having problems.

 

[lorie13]

Walk away, chances are you will be able to find a better deal now with resale prices falling.
I wonder why the broker did not run a title search prior to posting listing?

 

[RoseGold]

Deal with another resale brooker. Fidelity has had many posts here of folks having problems.

Meh, this could happen anywhere. Sounds like this wasn't their fault. If anything, it's the title company.

It wasted a few days, maybe a couple weeks. I just don't see it as a huge deal. Probably better for OP, because prices are dropping.

 

[pianomanzano]

Meh, this could happen anywhere. Sounds like this wasn't their fault. If anything, it's the title company.

It wasted a few days, maybe a couple weeks. I just don't see it as a huge deal. Probably better for OP, because prices are dropping.

I disagree. It takes a couple seconds to search the comptroller's website to see if a contract has been sold, or the very least a couple screenshots from the owner showing point totals/contract status from the DVC website. If I were selling resale contracts, I'd at least do that before I start advertising contracts to be sold, I mean what else are they using these admin fees for.

 

[RoseGold]

I disagree. It takes a couple seconds to search the comptroller's website to see if a contract has been sold, or the very least a couple screenshots from the owner showing point totals/contract status from the DVC website. If I were selling resale contracts, I'd at least do that before I start advertising contracts to be sold, I mean what else are they using these admin fees for.

OP said in the post that they had other contracts. The title company is the one who requires the screenshots and such. So what does that have to do with the broker?

And, it's possible that the contract were sold last week, and it just hasn't all finished yet. Who knows?

Either way, the broker had nothing to do with this, it's the title company. It's just a seller lying, which they can't control, the title company (or Disney) has to verify.

 

[sndral]

With an older seller I’m wondering if she has some dementia. My mom is 89 & becomes easily confused & is very dependent on my siblings and me to manage her affairs.
The Orange County comptrollers site https://www.occompt.com/services/records-search/ has a search feature where you can input the seller’s name to verify that they are the owner, but there can be some lag from when the contract is sold & when the information is recorded. Even after it’s recorded DVC takes time to transfer the contract to the new owner.
I’d definitely walk away from that seller, technically w/ real property there are remedies for breach of contract - but realistically it’s not worth pursuing & in a falling market you’ll likely find the same or a better deal.

 

[pianomanzano]

OP said in the post that they had other contracts. The title company is the one who requires the screenshots and such. So what does that have to do with the broker?

And, it's possible that the contract were sold last week, and it just hasn't all finished yet. Who knows?

Either way, the broker had nothing to do with this, it's the title company. It's just a seller lying, which they can't control, the title company (or Disney) has to verify.

So you're saying a broker should just advertise any contract a seller presents even if they maliciously or unintentionally misrepresent what's actually available for sale (and pass blame on the broker)? That's a poor way to do business if you ask me and a quick way to lose clients. It's called due diligence doing your homework. Previous brokers I've bought resale contracts from stated that they receive screenshots of point totals (and have shown me copies of screenshots to verify point totals) and it's not surprising that this company did not and now OP is unfortunately dealing with something that should've been identified before it was even up for sale.

 

[RoseGold]

So you're saying a broker should just advertise any contract a seller presents even if they maliciously or unintentionally misrepresent what's actually available for sale (and pass blame on the broker)? That's a poor way to do business if you ask me and a quick way to lose clients. It's called due diligence doing your homework. Previous brokers I've bought resale contracts from stated that they receive screenshots of point totals (and have shown me copies of screenshots to verify point totals) and it's not surprising that this company did not and now OP is unfortunately dealing with something that should've been identified before it was even up for sale.

We have no idea that is what happened. Maybe the seller completely lied and fabricated the sceenshots. Maybe her daughter has power of attorney and sold it last week to pay for her vices. We have no idea.

If the broker searched the comptroller, they would have found the other contract anyway, so how would they know?

Either way, that's the title company's job.

 

[pianomanzano]

We have no idea that is what happened. Maybe the seller completely lied and fabricated the sceenshots. Maybe her daughter has power of attorney and sold it last week to pay for her vices. We have no idea.

If the broker searched the comptroller, they would have found the other contract anyway, so how would they know?

Either way, that's the title company's job.

We don't know exactly what happened, but we have a history of this broker having repeated issues of incorrect listings, point totals, existing reservations. It's funny how Fidelity is always the broker identified when these things occur, although I know of one instance reported here about the board sponsor awhile back. So my money's on them not doing any due diligence and they reap what they sow when they issues pop up every couple of months, which they don't seem to mind since they get continued business because of their lower-priced listings. Caveat emptor when dealing with them.

I'll agree to disagree where the blame lies because really it's everyone's responsibility. As a buyer, I research as much as possible on the seller once the contract is sent for me to sign and ask the broker to provide as much evidence as possible to show the contract is accurate. The broker has a responsibility to verify listings for accuracy as much as in their control and the title company as well for things beyond the control of the broker.

 

[TCRAIG]

I would request all $$ refunded ASAP and look for another contract…

 

[RoseGold]

I'll agree to disagree where the blame lies because really it's everyone's responsibility. As a buyer, I research as much as possible on the seller once the contract is sent for me to sign and ask the broker to provide as much evidence as possible to show the contract is accurate. The broker has a responsibility to verify listings for accuracy as much as in their control and the title company as well for things beyond the control of the broker.

Sure, but it sounds like the seller had multiple SSR contracts. If you search the Comptroller, that's all you see. The title company verifies with Disney, which is what it sounds like happened. This is the system working.

Anyone could have done that to any broker.

Depending on the timing of the sale, the seller might not have even been wrong at the time.

 

[Leeesa]

Walk away, chances are you will be able to find a better deal now with resale prices falling.
I wonder why the broker did not run a title search prior to posting listing?

My husband said the same thing.

 

[RoseGold]

You can search the comptroller and find when the deed sold as well. I'm guessing this is a case where it crossed streams and the sale was recent.

None of your business though, because you need to go find another contract.

 

[Leeesa]

I am thinking the best is for me to walk away. I dont think the seller did anything sketchy. She is in her 80's and doesnt even have a computer. So everything was being done by snail mail. So i am thinking she got confused on what she sold prior and maybe is unorganized or has some dementia. The daughter jsut happeneed to stop by when Fidelity called her and they talked to her then. Just a hot mess.