Closing Costs for Existing Members????

[belle3]

We have just received our paperwork for 2 x 100 point contracts at AKV and as we were going over the charges we found closing costs of 200 for each contract. I Have left a message for our guide, but I am just wondering if anyone has heard that Disney has started charging current members for closing costs? I thought it was for new members only???
Thanks!

 

[Caskbill]

Did you get the same use year month as your current resort? That's what makes it an add-on contract. Disney has stated there's no closing costs for add-on contracts.

If you got a different use year month, it would be a new membership number and wouldn't be an add-on. In that case the closing costs might apply.

We just purchased SSR as an add-on, and there were no closing costs.

 

[bobbiwoz]

We added on recently, at VWL and AKV, and there is a page that has closing costs. However, those fees are not paid by us...you'll still be only paying the price (either $93 or $101) times the number of points you buy. There had been a thread recently about just why that page that does show closing costs comes up in the package of documents. I forget the reason.

Bobbi

 

[LisaS]

We have just received our paperwork for 2 x 100 point contracts at AKV and as we were going over the charges we found closing costs of 200 for each contract. I Have left a message for our guide, but I am just wondering if anyone has heard that Disney has started charging current members for closing costs? I thought it was for new members only???
Thanks!

Our add-on paperwork listed closing costs as well, but they are in the "paid by seller" column. The "paid by buyer" column does not include anything for closing costs. The total amount due from buyer is consistent with the $93/pt price.

If your paperwork shows closing costs in the "Paid by buyer" column and your "total amount due from buyer" is more than $9300 on each of your 100-pt contracts (or $10100 if you are getting the developer's points) then you should contact your guide. Actually, you could call Quality Assurance -- they are available 7 days a week so it might be easier to reach someone there. The 800 number is inside the cover of your document folder.

 

[dianeschlicht]

Same here. They are listed, but in the "paid by seller" part. I did a double take when I first saw it as well.

 

[SimbaCub]

I just received my paperwork for AKV addon and I almost called my guide when I saw closing costs until I saw it was paid by seller. I have never seen closing costs before and I am adding on for the 5th and 6th time. Is this something new for brand new members? It might be a prohibitive cost along with the new point increase to 160 and point cost $104.

SimbaCub
OKW Apr 07
VWL Thanksgiving 07
VWL Week before Christmas w/friends

 

[belle3]

Thanks everyone! You are right, it is paid by "seller". I don't know why they list it except for general accounting reasons. Glad to see it wasn't a fee for me!

 

[sagwanamu]

Thanks everyone! You are right, it is paid by "seller". I don't know why they list it except for general accounting reasons. Glad to see it wasn't a fee for me!

Remember that this is a real estate transaction; therefore, all costs must be disclosed on the settlementsheet regardless who pays for what. At least that's what I was told by my guide and all settlement agents whom I dealt with on multiple states.