Contract ROFR'd and almost closed - dues?

[PrincessV]

I'm just about done selling my DVC contract; Disney waived ROFR and we should close in the next few weeks. My dues are taken out of bank account monthly - do I need to contact DVC about that ahead of time, or will that automatically cease once the sale is complete?

 

[Tamar]

I would stop the auto pay right away. Closing docs are based on what is owed, and if that might change if another payment is taken out of your account, that could hold things up or make for a mess.

 

[Dean]

I'm just about done selling my DVC contract; Disney waived ROFR and we should close in the next few weeks. My dues are taken out of bank account monthly - do I need to contact DVC about that ahead of time, or will that automatically cease once the sale is complete?

Dues paid monthly are actually paid in arrears. Had you paid yearly, you'd have paid last Jan and would have dues due now. Normally DVC will not allow you to do the transfer unless you're up to date on dues, you're not really if you're doing monthly. What should happen, and has all the times I know of, is the dues will be included in the closing per the contract agreement. So even if you paid them, you'd be reimbursed at closing unless you've agreed to pay the 2014 dues.

 

[PrincessV]

Dues paid monthly are actually paid in arrears. Had you paid yearly, you'd have paid last Jan and would have dues due now. Normally DVC will not allow you to do the transfer unless you're up to date on dues, you're not really if you're doing monthly. What should happen, and has all the times I know of, is the dues will be included in the closing per the contract agreement. So even if you paid them, you'd be reimbursed at closing unless you've agreed to pay the 2014 dues.

Yep, all of the above! I'm all but closed now; docs are signed and waiting on the buyer's check. I'm paying 2014 dues, so it's all rolled into the final numbers. Think I'll contact DVC right after we close, though, just to be sure the withdrawals are stopped.

 

[disneynutz]

Yep, all of the above! I'm all but closed now; docs are signed and waiting on the buyer's check. I'm paying 2014 dues, so it's all rolled into the final numbers. Think I'll contact DVC right after we close, though, just to be sure the withdrawals are stopped.

Are there 2014 points included in the sale? If so the buyer should be paying the dues for those points.

Bill

 

[PrincessV]

Are there 2014 points included in the sale? If so the buyer should be paying the dues for those points. Bill

Nope - stripped through 2014 and some of 2015, so I'm paying. But I'm still getting a very good price, so it's all good