Scam or legitimate: Fidelity Real Estate?

[win555]

I reached out to a Redweek listing for a Worldmark membership. The listing is from a real estate agent associated with Fidelity Real Estate. They say they are licensed and all that. We agreed on a price and they sent me a contract. The contract did not include any other details of the membership other than the number of annual points. I asked them to include anniversary month, banked credits with expiration dates, but they refused. Additionally they want a title company involved, but no title company is required as there is no deed involved. But they want a title company involved as the are a licensed RE agent. I'm not a real estate expert so I thought whatever, as long as I'm getting a good price, I'm fine with the extra costs. The maintenance fees listed are a bit off as well (around 10%). The agent once said the anniversary month is X but in other correspondence it is listed as Y.

I asked for a so called estoppel (there isn't one with Worldmark, it's called "Vacation Ownership interest details"). Or a screenshot of the account details with owner info redacted. Refused as well. They claim I'm in good hands since they are a licensed company. Lots of name dropping that they are preferred broker for many timeshare companies. See what they wrote below.

As a licensed Real Estate Agent transaction Broker my job is to represent both the buyer and the seller, this will be an extremely smooth transfer and you are in good hands.

I do not send seller screenshots to the buyer, I send them to the Title Co. Once the estoppel is received and sent to the Title Co all details are confirmed by the Title Co for accuracy, it is not customary for the buyer to receive those documents. While I completely understand that you had an issue with another agents listing, I can’t speak to that, as I am diligent that I receive the proper information from my seller before I list a product. This product is no different, the maintenance fees are up to date and the credits are fully loaded for 2019, 2020 and 2021. Fidelity is the preferred broker for Disney, Wyndham, Bluegreen, Holiday Hills, Worldmark by Wyndham and many more, this is because they trust us, we have done this over 20+ years, our reviews are above reproach and we have an A+ rating with the BBB. Mistakes can always be made but, there are safeguards to protect you and the seller.

Now, there isn't any negative feedback about them. It could be that they are just sloppy and don't know what they are doing. But it just has enough elements of a timeshare sales person type behavior to make me cautious. So I'm not sure what to do.

Not sure if I should list the agent name but this is the company:
Fidelity Real Estate
5337 Millenia Lakes Blvd, Suite 225B
Orlando, FL 32839

 

[RX8]

I purchased my resale DVC through them, Closing costs were a little high and there was a title company involved but had no issues at all.

 

[VAlegacy]

I did a resell through them. It went very well. They did not have in house closing but the company they used was excellent as well.

 

[Eric B]

Never dealt with them, but I got a good price for a WorldMark account from a private seller off of eBay and closed the transaction without a title company involved after receiving a copy of a screenshot of what the account really was to verify the details. Closing went smoothly and quickly, including the use of Docusign by the WorldMark title transfer department. There are a lot of good deals on WorldMark accounts available on eBay and on the TUG marketplace; if this broker wasn't willing to provide anything for my due diligence, I wouldn't deal with them personally. Particularly in the case of insisting on the use of a title company for a non-deeded thing like a WorldMark account. I also managed to get a 7K WorldMark account free including the closing and transfer costs through TimeShare Nation. IMHO, in this selling environment the broker needs to earn your business; "just trust me" never really worked with me anywhere in the timeshare world before anyway.

 

[win555]

Never dealt with them, but I got a good price for a WorldMark account from a private seller off of eBay and closed the transaction without a title company involved after receiving a copy of a screenshot of what the account really was to verify the details. Closing went smoothly and quickly, including the use of Docusign by the WorldMark title transfer department. There are a lot of good deals on WorldMark accounts available on eBay and on the TUG marketplace; if this broker wasn't willing to provide anything for my due diligence, I wouldn't deal with them personally. Particularly in the case of insisting on the use of a title company for a non-deeded thing like a WorldMark account. I also managed to get a 7K WorldMark account free including the closing and transfer costs through TimeShare Nation. IMHO, in this selling environment the broker needs to earn your business; "just trust me" never really worked with me anywhere in the timeshare world before anyway.

I will keep looking on eBay and TSN.

 

[bizaro86]

I disagree with their statement that it isnt customary for the buyer to get screenshot/estoppel info prior to purchase. That is customary, imo.

As an alternative, I'd be willing to take the details in the contract (number of annual points, number of points available, anniversary). But important details unverified and not in the contract is a deal breaker imo.

 

[win555]

This is the only thing they put in the contract.. nothing else. I'm not sure what will be there for the escrow/closing company to verify. They could substitute a fully stripped account and with a loan in the closing and that would still pass the verification by escrow company. It looks liek people have had good experiences with them but I will probably skip this deal.

 

[RNCollins]

I purchased a hard to find resale RTU contract thru Fidelity Real Estate - Timeshare Division. I found the listing through Timeshares Only website. The closing agent was Timeshare Title in Pennsylvania. The transfer process was done professionally and efficiently. I enjoyed my timeshare until Hurricane Dorian destroyed it.

 

[VAlegacy]

This is the only thing they put in the contract.. nothing else. I'm not sure what will be there for the escrow/closing company to verify. They could substitute a fully stripped account and with a loan in the closing and that would still pass the verification by escrow company. It looks liek people have had good experiences with them but I will probably skip this deal.

View attachment 23441

The agent I dealt with sent me Wyndham ownership detail, assessment, and convinced the owner to deposit their points in RCI and transfer to my RCI account to salvage current use year.
Doesn't sound anything like this

 

[TravelTime]

Do you mean Fidelity Resales?

Home

Buy and sell timeshare with our Licensed Real Estate Brokerage. Recommended by Top Developers. Proven Track Record of Success.

www.fidelityresales.com

If so, this is a legitimate company. I have purchased a timeshare through them.

 

[win555]

The agent I dealt with sent me Wyndham ownership detail, assessment, and convinced the owner to deposit their points in RCI and transfer to my RCI account to salvage current use year.
Doesn't sound anything like this

Multiple people have commented it's not a scam so it's good info for future reference.

I could probably pursue it and convince them to put the membership info in the contract. But I just found a deal that's equally good and the broker is forthcoming and isn't playing any games, so I'd rather work with an outfit that's easy to work with.

 

[Eric B]

Sounds like an individual problem rather than an organization problem.

 

[AZLatin5]

Everything I’m reading shows this as a legitimate resale company but I have a few things I am unsure about. I am in process of a resale Wyndham Oceanside Pier Resort 500,500 points for 3k. Then when I got the contract shows sell as $1500 and $1500 going to fidelity. I have not seen this before. Anyone else? Also stated buyer responsible for 2021 MF’s then said seller was. My understanding was they(seller) has to keep current till transfer completed but I still had use of all 2021 points. Anything I’m missing? Anything I should be concerned about?
Any feedback from some of the experts out there would be appreciated,
Thanks!