Closing costs & annual dues

[honeybear66]

I have had an offer accepted on a resale contract (this will be my 2nd) In the correspondence the sellers have asked that we pay 2016 annual dues even though they have already used most of 2016 points is this quite normal or should ask them to split it?

 

[AMCSquared]

Everything is negotiable. You have to look at the total cost including base price per point, closing cost, and annual dues. Most contract with stripped points (i.e. future years points are used) would have lower cost per point to compensate for that. Unless your base price has already adjusted for this, I personally would NOT pay for "their" annual due for 2016.

I think it is only fair that the party using the points pays for the corresponding annual dues.

 

[DebbieB]

Most likely you will close before dues are due, so the bill will come to you regardless. The question is do you want to adjust the selling price to compensate for it. If you accepted the offer, it may be too late.

 

[davper]

Ditto

 

[mtm65]

Ditto to both above. We just closed on a BLT contract and the seller deducted the cost of the maintenance fees for the 2016 points used. Unless you have a super deal, it only seems right that the seller pays for what they are using.

 

[HereIGo]

It does seem you would likely close before 2016, so you will be paying those dues. But if they have already used most of them, I would factor that into my "per point" offer, since it would chance the overall value of that contract to me.