Dues Question Please

[What-r-ya Goofy?]

We just signed our purchase contract for a resale February UY contract. (WooHoo!) All 2007 points have been used, so we get our first points in Feb. '08.

Our agent has informed us that Disney requires full payment of our 2008 dues at the time of closing. He said that given the time of year, (we’re scheduled to close December 24th), full payment must be made at closing. Again, this would be for 2008 dues, not prorated 2007 dues.

Not a huge deal, although we were looking forward to the "12 easy payments"! We were just taken back by this a little as we had not heard this come up before.

Does this sound right? All opinions appreciated!

 

[Chic]

This does not sound accurate. I would call the official DVC number to get clarification. To my understanding, you have the option to pay monthly or annually. It was a choice I was given when we bought in during July 2007. We are paying our 2007 fees on a monthly basis and will continue in 2008.

 

[Buckeye Fan]

Can't necessarily answer your question...however...

HOME!!! What a WONDERFUL Christmas gift!!! Best wishes.

 

[castleri]

Rhis does not seem right as the dues for 2008 have not even been announced although they will be by your closing date. It sounds fishy to me. I can see them requiring the full payment for 2007 but not for 2008. As someone else mentioned I would call DVC directly and see what they have to say.l

 

[LisaS]

I'm not surprised Disney is requesting the 2008 dues be paid as part of your closing. The bills usually go out around your closing date, with a payment due date of Jan 15th. Given that it can take up to 10 days after your closing to get your contract set up in Disney's system, that doesn't leave enough time for Disney to mail out your dues statement and allow you time to get your payment in by the due date.

Also, if I remember correctly, if you want to pay monthly you need to set this up before they mail out the dues statements. Since those go out around the holidays, there probably wouldn't be enough time for you to set it up this year anyway.

 

[Doctor P]

I agree with Lisa. This does sound possible and reasonable in this particular case.

 

[mcrabeck]

We are in the process of purchasing a resale as well with a December closing date and the agent told us as well that we may need to pay the 2008 dues in full upon closing since the bills for 2008 would already be mailed out.

 

[drusba]

This makes sense. As part of any closing, any dues owed by the seller must be paid. Dues are deemed owed as soon as they are assessed (which will be done in early December 2007 for the year 2008) even though the seller's due date for paying them is not until January.