Help me understand my dues amount

[Tine731]

I have 3 contracts all at SSR

I owe $827.74 x 2 for 2 200pts contracts. I have owned these 2 contracts for over a year.

I owe $528.55 for 1 (a 115pt contract) but I have only owned this one for 3 weeks. It just closed the end of December. Should I owe this much?

Please help me understand. Thanks.

 

[WebmasterDoc]

The fees owed are for calendar year 2007 and any days you owned the new contract in 2006.

My understanding is that you are paying $827.74 for each of your 200 point contracts and $528.55 for the 115 point contract for this year. It looks like you are paying $4.12 for the 200 point contracts and for the 115 point contract you are paying the same $4.12 - plus $0.47 for the prorated days in 2006 you owned those points.

Sounds about right. You should check on the member site and/or call Member Accounting for a full explanation.

Good luck!

 

[LisaS]

You say you closed on the 115-point add-on at the end of December, but when did you purchase it? You will owe pro-rated dues on those points from the date you got the points (usually within 24 hours of paying your deposit). It looks like you paid dues for about 42-44 days of 2006. So did you purchase that add-on just before Thanksgiving?

 

[Tine731]

Okay, so I am paying the dues for the upcoming year? I am paying for 2007 in advance? Is that how it is done? If so then that makes since to me. Is this correct?

 

[LisaS]

Okay, so I am paying the dues for the upcoming year? I am paying for 2007 in advance? Is that how it is done? If so then that makes since to me. Is this correct?

You are paying in advance for the whole of 2007 on all contracts and in addition, you are paying for the 43 days or so in 2006 that you had use of the 115 points from your recent add-on.

Did you purchase that add-on just prior to Thanksgiving? When you purchase an add-on, you pay pro-rated dues that year. The dues are pro-rated from the time you get the points (which is usually 24 hours or so after you pay for the add-on or pay the deposit on it) not from the closing date (which you said was in late December). But you are not billed for them until after you close. In this case, it seems that because you closed so close to the end of the year, they included the amount due for those 43 days in 2006 in your annual dues bill rather than bill you for that separately.

In addition to the 2007 dues, there is also an adjustment for property taxes. Your 2006 dues included an estimate for the '06 property taxes. If the estimate was too low, then the 2007 dues bill includes any additional money you owe to DVC to cover the shortfall.

 

[WebmasterDoc]

The maintenance fees are due and payable by January 15 each year with a grace period until February 15 (or check-in at a resort - whichever comes first). You can also use autodebit from a bank account to pay these fees in 12 monthly installments - with no interest or carrying charges.

The prorated fees for 2006 are based on the time you paid the deposit - not on when you actually closed.

 

[Tine731]

Thanks....the lightbulb has just been turned on. It all makes since now.