DVC by resale - dues payment ?

[megrod74]

This is probably a dumb question, but here goes. DH and I are looking into buying a resale and paying it off with a home equity loan. Where does that leave our membership dues - that is, will it be billed yearly in one lump sum? Or do we have the option of paying monthly? and this amount needs to be factored into our repayment of the loan, right?
I think I have overthought this decision so much that I've confused myself.

 

[Happy Birthday Cat]

You can do it either way. If you want to pay it in full you can but you can request that member services charge you monthly and have it taken out of your checking account. The debit is separate from any loan payments.

I bought a resale and switched it to the monthly payment method. You can even request the payment date, the 1st or 15th of the month.

HBC

 

[megrod74]

I'm glad we can pay it monthly. For some reason, I had forgotten all about dues in addition to the loan payments!
Thanks for replying

 

[jekjones1558]

You are most likely going to be paying your 2004 dues as part of the resale contract, so you won't have to worry about dues until Jan. 2005. Then you can pay lump or monthly.

 

[DBBN]

We recently closed on two resales and in both cases DVC required the first year dues paid in full at closing.

For subsequent years we will have several payment options including: monthly debit from a checking account, a single payment in full by check in January or a single payment in full by credit card (Visa/Mastercard) in January. There may be other options that I am not aware of.

Good luck on your resale.