Annual dues question??

[Tinker74]

Could any of you experts help me please. ..We purchased DVC during the F&F promotion in January...we closed March 1st. I just received an annual dues statment in the post asking for our fees by 15th April.
Iam confused by this as I was under the impression that we didn't pay dues till next January.
Is this right?

 

[Tinker74]

It Ok...just done a search and it seems dues are calculated from when you sighn contract. Oh well!!

 

[LisaS]

It Ok...just done a search and it seems dues are calculated from when you sighn contract. Oh well!!

Yes that is correct. For this year, your dues will be pro-rated from when you purchased. You get billed after you close on your contract. Starting in 2008, your dues will be due in January. You can also opt to pay your dues in monthly installments via electronic debit from your bank account. So instead of paying the total amount in January, you would be debited automatically in 12 installments. Disney does not add any extra charges if you opt to spread the payments out over the year. Any extra property taxes owed (due to the actual taxes being higher than the estimated taxes for the previous year) are added to the January debit amount. From February on, you would be debited for 1/12th of the dues each month.

 

[abeyst]

I was wondering the same thing, cause they prorated my statement (which I rec'd yesterday) for 304 days, but shouldn't they be billing from the date you close and not the date the papers are signed?

 

[DebbieB]

I was wondering the same thing, cause they prorated my statement (which I rec'd yesterday) for 304 days, but shouldn't they be billing from the date you close and not the date the papers are signed?

No, it goes by the purchase date. You can start reserving the points on your purchase date (direct through DVC, not resale).

 

[LisaS]

I was wondering the same thing, cause they prorated my statement (which I rec'd yesterday) for 304 days, but shouldn't they be billing from the date you close and not the date the papers are signed?

As DebbieB says, the dues are pro-rated starting from the day you can start using your points. You can make a reservation even before you close. I believe you can even take a vacation on points before you close. If you later backed out of your purchase, they would deduct the cost of the points you used from your deposit.

 

[CSUFSteve]

Technically, the dues are pro-rated based ON THE LATER OF your unit's date of available occupany OR the agreement date. e.g. For me, my agreement date was Jan 29 2007 and my UY is Dec, but my "unit" was not avail until Mar 6. So my dues were prorated from Mar 6. This is regardless of the fact that I booked ressies the day after my agreement date. So for the 1st year, I feel like I got a pretty good deal on dues!