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Old 07-30-2013, 02:54 PM   #11
mvndvm
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Join Date: Aug 2009
Location: Geneseo, IL
Posts: 81

Quote:
Originally Posted by Msmithmd View Post
Good deal overall MVN, but I hope you aren't "paying prorated '14 MF" as you said. You will get a bill from DVC for '14 MF in January 2014, so if you pay the seller money for that item, you're giving them money for nothing. You will pay '14 MF to Disney for those points again in January.
I'm not sure on the specifics, but I'll check now for sure! We don't close until after Christmas, so I'm under the impression that I pay what I owe to the closing company and the seller pays what he owes, and the closing company figures it out.

Quoting my contract, "Seller is responsible for the annual dues on the 263 points from the 2013 allocation which must be paid in full at the time of closing and seller is responsible for the annual dues on the 334 points from the 2014 allocation which must be paid in full at the time of closing. Buyer to pay the annual dues on the 87 points from the 2013 allocation which must be paid in full a the time of closing and buyer to pay the annual dues on the 16 points from the 2014 allocation in full at the time of closing. Buyer will then be covered on annual dues until January 2015."

Also stating my contract, "Buyer to receive 17 banked points from the 2012 allocation, which must be used by 12/1/14, 87 points from the 2013 allocation, 252 borrowed points from the 2014 allocation, which must be used by 12/1/14, 16 points from the 2014 allocation and all points from closing forward."

So, while the seller borrowed 252 points from 2014, I still get to use those while he pays the MF on them (plus the 82 that he apparently is using). I get the feeling that the seller has multiple contracts that he rents out points to make a little profit. In fact, the broker told me not to worry too much about the delayed closing since they have sold 19 contracts for this seller without a problem so far. So, the 19 contracts plus the delayed closing tells me he rents points out. Still not getting my hopes up too high until closing documents are signed and points are in my account!

Any suggestions/thoughts on the prorated MF on the 16 2014 points would be appreciated. Do I need to do anything different than what my contract says? Will the closing company handle the MF, or will they distribute the money to me to pay directly do Disney by January 31, 2014?
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