annual fees

[chuds]

Hi can someone please clarify is this paid by each person on contract ie two people two annual fees

 

[high meadows]

No. Remember, this is a real estate interest. The fees go with the property -- the points -- not the number of owners. For example, we hold our points as joint tenants. The annual fees are levied on the points, not on each of us. In a joint tenancy, each person is liable for the entire sum, but the fees are not doubled.

 

[disneynutz]

Annual dues are per point owned. It doesn't matter how many people own the contract. 200 points x $5.00 per point = $1000 payable for dues.

Bill

 

[Chuck S]

Hi can someone please clarify is this paid by each person on contract ie two people two annual fees

You are billed a annual lump sum per contract, not per person. The amount can be paid monthly through direct debit from a US bank account for no additional fee. Think if it like your home property tax, it is billed to the property, no matter how many people own it.

The total amount due depends upon how many points are in the contract.

 

[chuds]

Hi on section 4 of product understanding checklist it says " Each member pays Annual Dues on a calendar year basis "
I have also noted that OKW is not mentioned (we have been quoted OKWas our home resort) in any of the paperwork that was sent is it known as "the Lake Buena Vista resort" The reason I am asking is we are recently back from a very dissapointing stay at PORR and had been considering the DVC from our visit last year. Had the open house tour which left us confused and dissapointed in how we were treated as were advised to buy into BLT as had nearly 93% capacity and would soon be selling Hawaii which would be more expensive in terms of annual dues for maintenance.
We are a cauitous family and dont want to commit to something to be taken advantage of

 

[Chuck S]

Hi on section 4 of product understanding checklist it says " Each member pays Annual Dues on a calendar year basis "

It may say that because legally all people listed on the deed are equally responsible for the entire amount of dues.

In other words, say John and Mary Doe have a 200 point contract. On that contract, the dues are $5 per point, for a total of $1000.

Legally, Mary Doe is NOT individually responsible for $500 and John Doe is not individually responsible for $500, together they are responsible for the $1000.

 

[chuds]

Ok I see thanks

 

[westcoastsunshine]

Annual dues are paid my property not people on that contract.

 

[SSR]

Legally, Mary Doe is NOT individually responsible for $500 and John Doe is not individually responsible for $500, together they are responsible for the $1000.

And in case it's not obvious, if Mary and John have an agreement to split the $1000, and Mary refuses to pay, John is nonetheless "jointly and severally" liable for the entire $1000.

 

[jlewisinsyr]

Had the open house tour which left us confused and dissapointed in how we were treated as were advised to buy into BLT as had nearly 93% capacity and would soon be selling Hawaii which would be more expensive in terms of annual dues for maintenance.

Maybe 93% of declared inventory, but there is a lot of inventory that still needs to be declared. Unfortunately what used to be a much more "peaceful" process buying DVC, has turned into just slightly less aggressive then the rest of the timeshares on the market.