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Old 03-22-2013, 11:27 AM   #1
elfbo
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maintainence fees on direct purchase

I'm trying to figure how mf work on first year of direct purchse. Do you pay for 2013 when you buy? Is it waived and you start paying mf in 2014?
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Old 03-22-2013, 11:30 AM   #2
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I'm trying to figure how mf work on first year of direct purchse. Do you pay for 2013 when you buy? Is it waived and you start paying mf in 2014?
MFs are always paid on a calendar basis.

so if you buy in directly on april 1, you'd owe 9 months out of 12 - or 75% - of the 2013 annual dues per pt.

if you buy resale, it's all negotiable.
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Old 03-22-2013, 01:14 PM   #3
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I'm trying to figure how mf work on first year of direct purchse. Do you pay for 2013 when you buy? Is it waived and you start paying mf in 2014?
It depends on a couple of things. The dues for your purchase year are pro-rated from the later of: your purchase date, the date you get your first set of points and the occupancy date of the Unit you purchased. The last item applies to new construction.

If you are buying a resort that is fully open and you are getting current UY points with your purchase then you pay pro-rated dues from your purchase date. If they are out of current UY points then you will pay pro-rated dues from the first day of your next UY. You won't be billed until after you close on your purchase.

Ex: You purchase a June UY contract today and get June 2012 points. You will pay 285 days worth of dues for calendar year 2013.

Ex 2: You purchase a June UY contract today. They are out of June 2012 points so your first points will be June 2013 UY points. You will pay dues from June 1st, so you will pay 214 days worth of dues for calendar year 2013.

If you purchase new construction, the occupancy date of the Unit you purchased can make a difference in your first year dues.

Ex 3: You purchase a June UY contract today at a resort still under construction. Your first points will be June 2013 points. The occupancy date of your Unit is Sep 1st. You will owe dues from Sep 1, so you will owe 122 days worth of dues for calendar year 2013.
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Old 03-22-2013, 02:36 PM   #4
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Thanks. That is what I needed to know.
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Old 03-22-2013, 02:41 PM   #5
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As a new purchaser from Disney, you will pay a pro rata share of annual dues as noted above, from date of purchase (not later date of closing) to end of calendar year for a completed resort and current points. You will have the option to pay those dues all at once at time of closing or set up monthly withdrawals from your checking account. There is no interest on paying monthly so there is no total amount difference in doing that rather paying all at once. If you go the monthly withdrawal route, the first payment will not actually occur until about a month after closing which could easily be two months after the date you actually purchase. Your monthly payment will thus be higher than a pure month's worth of dues. Example: buy today, close a month from now and first payment date for dues may be June 1. You will thus pay your total pro rata share of dues from March 22 to December 31 in 7 monthly installments beginning on June 1. Thus, your monthly payment amounts will reflect that you are paying a little more than 9 months of dues (from date of purchase) in 7 months.
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Old 03-22-2013, 03:27 PM   #6
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The thing that confused me on my first direct purchase was discovering that they bill you for the number of days not the the number of months. In my case, I owed dues from Oct 1st. I expected to owe 3 months worth of dues, so 1/4 of the annual dues. The bill was slightly higher because they bill based on days and I owed 92 days worth of dues. That works out to be 25.2054... percent of the annual dues, not 25%. Between that and being billed 92 days worth of dues in two monthly payments (they started billing Nov 1st) it can be confusing working out the payments in the year of purchase.
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