Resale maintenance fees

[*pixie*]

Currently looking at a resale listing. UY is October. Comes with a few banked points from 2013 and full 2014 points. Seller is asking for maintenance fees. If we as the buyer paid these, are these 2013 fees and then we would we pay another full years worth of fees in October 2014?

I've been asking so many questions, thanks for everyone's patience.

 

[DougEMG]

MF are paid either in one lump sum at the start of the year or monthly in 12 equal monthly payments. UY does not have anything to do with when MF are due.

Typically most sellers ask for the current year's MF, but to be exact it should be stated as buyer to pay 2014 MF. Your contract will say thie exact terms.

Everything in a sale is negotiable, including MF. Other than my first purchase when I didn't know any better, I've never paid MF in a purchase.

 

[Dean]

Currently looking at a resale listing. UY is October. Comes with a few banked points from 2013 and full 2014 points. Seller is asking for maintenance fees. If we as the buyer paid these, are these 2013 fees and then we would we pay another full years worth of fees in October 2014?

I've been asking so many questions, thanks for everyone's patience.

Maint fees for DVC are paid on a calendar year basis, not use year. Therefore, if you were only getting 2014 points and no 2013 points, the proper fees would actually be 3/12 of the yearly total. However, most resale agents take the incorrect stance of "you get the points, you pay the dues" as their idea of the neutral position. It's incorrect but you'd be fighting an uphill battle. Of course you'll have to decide what the overall value is. As noted, it is negotiable.

 

[disneynutz]

Currently looking at a resale listing. UY is October. Comes with a few banked points from 2013 and full 2014 points. Seller is asking for maintenance fees. If we as the buyer paid these, are these 2013 fees and then we would we pay another full years worth of fees in October 2014?

I've been asking so many questions, thanks for everyone's patience.

They are probably fees for the 2014 points but you need to discuss this with the broker since you may be doing business with them.

Bill

 

[*pixie*]

So, if I'm understanding correctly, if we pay the MF the Seller is asking, we would then have to pay MF again in January 2015?

Thinking we will pass on this listing. Between the seller asking for MF and around $4 more a point than other listings, doesn't seem like much of a deal.

 

[maggiegirl]

So, if I'm understanding correctly, if we pay the MF the Seller is asking, we would then have to pay MF again in January 2015?

Thinking we will pass on this listing. Between the seller asking for MF and around $4 more a point than other listings, doesn't seem like much of a deal.

You can negotiate PP $$$, maintenance fees and closing costs - it is up to you to make the offer

 

[GOOFY D]

So, if I'm understanding correctly, if we pay the MF the Seller is asking, we would then have to pay MF again in January 2015?

Thinking we will pass on this listing. Between the seller asking for MF and around $4 more a point than other listings, doesn't seem like much of a deal.

It never hurts to make an offer based on what you think the total value is of the contract. The worst they can do is say is "no."

 

[*pixie*]

I know we can make an offer, but to get within the range we would be comfortable in, they would have to accept $5 less a point AND pay both closing and MF that they are asking for.

I'm not optimistic they would accept the offer.

 

[GOOFY D]

I know we can make an offer, but to get within the range we would be comfortable in, they would have to accept $5 less a point AND pay both closing and MF that they are asking for.

I'm not optimistic they would accept the offer.

They may not, but $5 less than asking price is not an unreasonable or unusual offer in most cases. I would just determine the total price you are willing to pay, including MF and closing costs and parse that up how ever you want between the offer for points, MF and closing costs. You may be surprised.

 

[Mousewerks]

I know we can make an offer, but to get within the range we would be comfortable in, they would have to accept $5 less a point AND pay both closing and MF that they are asking for.

I'm not optimistic they would accept the offer.

Never ever say no for them. Put your offer out there and see what they say.

 

[*pixie*]

They may not, but $5 less than asking price is not an unreasonable or unusual offer in most cases. I would just determine the total price you are willing to pay, including MF and closing costs and parse that up how ever you want between the offer for points, MF and closing costs. You may be surprised.

Thank you so much for this! I wasn't sure if asking $5 less a point was completely outrageous or not, or if even $1-2 less a point was an "acceptable offer".

 

[wendybeth75]

I say make an offer! Our seller was asking for a reasonable amount for our AKV contract at $70 PP(which is currently in ROFR). We offered $65 PP thinking it would a great negotiating point and we would land around $68 PP. Our seller accepted our offer of 65! Now we are a little worried about ROFR but we are paying closing and there is no MF until 2015 because there are no points until then. You never know until you try!

 

[Minniesgal]

So, if I'm understanding correctly, if we pay the MF the Seller is asking, we would then have to pay MF again in January 2015?

Thinking we will pass on this listing. Between the seller asking for MF and around $4 more a point than other listings, doesn't seem like much of a deal.

If you are getting the 2014 points I am of the opinion it is fairly reasonable to ask you to pay the 2014 MFs. I think most sellers with 2014 points would expect the same

 

[Dean]

If you are getting the 2014 points I am of the opinion it is fairly reasonable to ask you to pay the 2014 MFs. I think most sellers with 2014 points would expect the same

The 2014 maint fees are for 9 months of the 2013 points and 3 months of the 2014 points.

 

[*pixie*]

Well, I found another contract that didn't have as many current points, therefore less MF. I contacted the agent and said I would like to make an offer of $5 less a point, seller pay closing, buyer pay MF.

I was told my PP offer was a good starting point (yay!), but that it wasn't a typical negotiation to have the seller pay closing.

This is going to be a long, exhausting process!

 

[CMOORE185]

Well, I found another contract that didn't have as many current points, therefore less MF. I contacted the agent and said I would like to make an offer of $5 less a point, seller pay closing, buyer pay MF.

I was told my PP offer was a good starting point (yay!), but that it wasn't a typical negotiation to have the seller pay closing.

This is going to be a long, exhausting process!

I made a similar offer when we bought our resale points. They ended up accepting my offer except asked to split the closing costs, I agreed to this. As others said, everything is negotiable, so I disagree with agent on the negotiation of closing costs.

 

[GOOFY D]

Well, I found another contract that didn't have as many current points, therefore less MF. I contacted the agent and said I would like to make an offer of $5 less a point, seller pay closing, buyer pay MF.

I was told my PP offer was a good starting point (yay!), but that it wasn't a typical negotiation to have the seller pay closing.

This is going to be a long, exhausting process!

Make the offer YOU are comfortable with, not the agent. They get their commission either way. They are 100% incorrect to say it is not typical to have the seller pay closing. It really does not matter to the seller at all how it is structured as long as the total amount in their pocket is acceptable to them.

 

[ncurley]

It is in the broker's best interest for YOU the buyer to pay the closing costs since the buyer would be more likely to accept that offer. Therefore it might speed up the process for them brokering the deal. (Less back and forth).

If you are in a rush to book a trip by a certain date and can afford to pay closing costs, it might make sense to do that. If you are in no rush and just looking for a good deal then why not at least try to negotiate? My 2 cents since I have not yet bought into DVC but that is how I have been thinking in terms of the offer process.

 

[*pixie*]

We put in an offer this morning of $5 less PP and seller pays closing.

So, I check the new listings just a little bit ago, and guess what? That contract has been relisted, asking for $2 more PP than the original listing, lol.

Somehow, I don't think we will end up with this contract.

 

[mort1331]

We put in an offer this morning of $5 less PP and seller pays closing.

So, I check the new listings just a little bit ago, and guess what? That contract has been relisted, asking for $2 more PP than the original listing, lol.

Somehow, I don't think we will end up with this contract.

As everyone has said, dont be afraid to deal. We are currently waiting on a SSR200 that was listed at 80, it had the UY we wanted but there was no way I was paying that. So I called the agent and tossed a number of 62 and split closing and MF. Was I floored when they came back with a yes. You never know, cast the line enough times and you will get a bite. Now to try and pass ROFR. Time will tell, but the seller is happy his contract is sold one way or the other. Remember you never know why someone is selling.