Maintenance Fees

[MikeChan408]

I'm currently waiting for ROFR, at what point in the process do I establish that I want to pay MF on monthly basis? Is it easy to switch back and forth between yearly and monthly or is it established somewhere in the closing docs.

 

[RobDoc]

Once you are closed and in the computer, you will receive some information from DVC (usually within a few months). We get our annual fee statement right at the end of the year and payment is due by January 15 and late after February 15 each year - unless you have set up the monthly auto-debit plan from a checking account. There are no additional charges for using the auto-debit - they just take the total maintenance fee due and divide by 12. Any over/under charges due to proprty tax esitmation is usually settled up with the January payment the following year.

MS can guide you thru the setup process for using auto-debit.

Welcome to the DIS ... and Welcome Home!

 

[drusba]

When you do a resale, any outstanding maintenance fees the seller had not paid for the calendar year in which the resale occurs are paid to Disney as part of the closing (you will pay them as amounts due at closing or the seller will out of the sale proceeds depending on what was agreed to). Thus, once you close, your next maintenance fees will be for calendar year 2008. Once you are in DVC's system as the new owner, you can call Member Services accounting and tell them you want to set up monthly payment of dues for 2008, which requires automatic withdrawal from your bank account, and they will provide the forms you need to fill out and sign for doing so.

 

[MikeChan408]

thanks doc