Good and Bad Vero Beach Contracts!

[tvwalsh]

Some of my Vero Beach contracts are the ones that were subsidized by the developer because the plans for the development of VB were cut back.

That means that I am actually paying only $4.39 per point rather than $5.63 per point in annual dues! My dues on these contracts will always be lower!

When I sell these contracts, the new owners will be catching a real break. Why do you think we have never seen this info in the resale listings?

 

[bobbiwoz]

I think that Doc said that once the original buyer sells, the points are no longer subsidized. Of course, I may be mistaken on this. It would be great if I were, those would be the VB points to own!

Bobbi

 

[LisaS]

I think that Doc said that once the original buyer sells, the points are no longer subsidized. Of course, I may be mistaken on this. It would be great if I were, those would be the VB points to own!

Bobbi

I remember seeing a post along those lines too, that the subsidized dues are not transferable to someone who buys one of those contracts. Otherwise I'm sure we would see comments in the VB listings about which contracts have subsidized dues.

 

[tjkraz]

I agree...there would be no reason to subsidize after the points are sold again.

The subsidy came into being because DVC initially sold people on the concept of a much larger development. Those buying while the larger plans were still in place were lead to believe that a greater number of owners would be sharing certain costs.

Now that the resort is fully developed, folks buying on the resale market should know exactly what they are getting into. Thus DVC no longer has an obligation to subsidize the dues.

 

[Dean]

I believe the subsidy is transferable from what I've heard. But one should look at the documents themselves to be sure.

 

[bwvBound]

A Vero Beach property that is subsidized loses that benefit once it changes hands. Therefore, on the resale market all VB's are treated the same.

I hope that answers your question,
Tom

(Taken from a thread discussed in Feb of this year)

 

[tvwalsh]

Mr. Yeary is the owner of the Timeshare Store so we can consider the question answered.