Any one else had this happen?

[kvogel11202]

We purchased DVC at Saratoga Springs in May, and we decided to have out payments taken out by EFT. Our first payment was processed the other day, I went in t check on it, and they took pretty close to double what they were supposed to! Of course I call my sales rep and he is on vacation, returning today. Waiting for a callback - but this guy is on vacation all the time! I had to call him fathers day weekend about trying to set up a tour for someone who was interested in purchasing- took him forever to call me back, then couldn't manage to get them a tour - told them what hours the model was open. Needless to say, they didn't bother. Not real thrilled about this.

 

[spiceycat]

call the toll free ms phone number.

then go to accounting.

you need your contract number with accounting.

get them to explain it to you or fix the problem.

 

[kvogel11202]

Thanks- yeah, I plan on giving them a call today, just wondering if it's a common issue. I'm not panicked about it, so I'm not upset, just wish my sales rep was a little more accesible, or at least interested! Oh well, it will get straightened out I'm sure! Thanks again!

 

[spaddy]

Mine was a little bit more then I thought it was going to be. I purchased in February so it was prorated for 10 months, but I actually will only make 8 payments this year. My was about 15% more then I thought it was going to be.

Also, if you can get online to your account it has MF info on there.

 

[MinnieGirl33]

Go to your contract paperwork & see if the amount debited matches the first payment amount on the contract.

We just did an add-on & I know the first payment will be different than the rest.

MS accounting should be able to help you if you need further assistance.

 

[pilferk]

Loan or MF?

Our first loan payment was about 1.5x the "normal" monthly payment, too...but our guide warned us it would be.

It has to do with accrued interest from the closing date vs when the 1st payment actually is made (almost 6 weeks, for us). Member accounting can explain it much better.

On MF's...not sure. Our first payment won't be until Sept.

 

[LisaS]

I don't know about the loan payments but the MFs will be higher than you might have been expecting for the following reason. You owe MFs pro-rated from the time your points are placed in your account, which is usually not long after you pay your deposit. They don't start deducting for the dues until after you close. So they would have to collect 6 months worth of fees over a 4-month period, assuming your closing took place about 2 months after you got your points. I don't know whether they make up the difference in the first payment or spread it across all remaining payments but in either case, the first payment at least will be more than you expected if you estimated you would pay 1/12th of your annual dues each month.

Starting next year, things will be as expected except for your January payment. Any difference between the estimated and the actual property taxes will be deducted with your January payment each year, so that one payment is normally higher than the remaining 11 payments.

 

[Fatalbie]

Thank you again Lisa. I have been talking to MS and getting nowhere. I could not understand why my member since date is may but the maint fees owed for this year were approx 10 months worth. I made deposit in Feb I think and that explains it. You should start charging back DVC for giving out such quality info, lol!!

 

[Doctor P]

Thank you again Lisa. I have been talking to MS and getting nowhere. I could not understand why my member since date is may but the maint fees owed for this year were approx 10 months worth. I made deposit in Feb I think and that explains it. You should start charging back DVC for giving out such quality info, lol!!

If you made your deposit in February and they started taking payments this month, it sounds like every payment should be about double. You are paying 10 months over five.

 

[mikayla73]

We had the same thing when we first joined. We joined the very week of May 06 and our card says Member Since Aug ... our payments were more in 06, but now that 07 is here (and almost over! WOW), it is back to "normal". I just took what we had to pay that first year and divided it by the months left in the year, it was exactly what they took out that first month.

 

[squirrlygirl]

Don't you pay the MF from when you give the deposit because they make the points immediately available to you? That was my impression.
Loan info is available on the DVC member site. I know mine shows information that matches my paperwork--my first payment is only 8 dollars more than my rest. My first payment comes out next month, so I'm curious to see if it matches!

 

[LisaS]

Don't you pay the MF from when you give the deposit because they make the points immediately available to you? That was my impression.

Yes, you have use of the points right away, even if you don't close for another 2 months. So the dues start when you get the points, not when you close.

 

[Dean]

Yes, you have use of the points right away, even if you don't close for another 2 months. So the dues start when you get the points, not when you close.

The dues start from the date you sign your contract, the date the use year opens in the event you don't get any points prior or the date your "unit" you are buying into is available for occupancy, whichever is later.