? about closing statement RE:dues

[dzneprincess]

Hi all! We are new DVCers and I have a question....
We bought 200 SSR while on borad the Magic in May. Once we got home we decided we wanted another 50 so we called up our rep and let him know. Everything seems to be going well, and I received the closing papers, I guess is waht they are called? letting me know the deed was recorded and when my payments and dues would start...Here is my confusion...We opted for monthly dues...on the 50 points it says $27.26 starting sep 15 and $27.26 Oct 15 through the remainder of the year...I am a little unclear on the wording? If it means on the 15th of each remaining month or one final payment for the year on Oct 15th? If it means each month then how can that be right?? Same wording on my 200 point contract $93.34 on 08/15 and $93.34 on 09/15 and through the remainder of 2006.....
$27.26 * 12=$327.12 div by 50=$6.54 pp annual dues??? I dont have the paperwork quite handy but I know that is way higher then what was presented to us?
Same thing on the 200 pt contract 93.34 * 12 = 1120.08 div by 200= 5.60 dues pp?? I am a bit confused?

 

[mamatojon]

You start paying dues from the time you purchase. So on your 200 pt contract you pay for a portion of May, and then June through December, 7+ months total. They are taking the total amount for the year and splitting it up into 5 payments, Aug-Dec. Same for the 50, just breaking it up into 4 payments, Sep-Dec.

 

[MinnieGirl33]

The way I understand it,
1). Dues run by calendar year not Use Year
2). Your first year you will owe dues from time of purchase (in your case May) til 12/31
3). You do not begin paying dues until closing therefore, you are paying the total, pro-rated amount from May-Dec broken into only 4 payments (Sept - Dec)

Does that make sense?

SSR dues are somewhere around $3.61 per point per year. If you do a search, someone has previously posted a dues chart from DVC's inception so you can see how the rates have increased over the years.

Oh, and...

Welcome Home Neighbor

 

[MinnieGirl33]

Oooops! Looks like they are $3.98 according to Doc's chart.

Go to thread "Past maintenance fees", Doc's post is #2. There is a breakdown there.

 

[LisaS]

The dues start on the day you first have use of your points. I expect they set up an account for you and deposited your points into it within a day or so of when you paid your down payment. You don't start paying them until after you close so at this point you owe "back dues" for the time between when you got your points and when you closed so that makes your monthly payments higher than you were expecting between now and the end of 2006.

 

[dzneprincess]

AHHHH! Light bulb moment! Thank you very much! I see. I guess I was expecting the "back" payments to be included on the first payment and then it drop back down to a normal payment so this really threw me for a loop! LOL Thank you all so much for your help!