MF question

[mommomtoJoseph]

If I were to purchase a DVC resale for 100 points with 15 banked points do I pay maintenance fees on those banked points in 2009 (115 points instead of just 100)? I am a little confused about mf for banked points I guess.

 

[CarolMN]

If I were to purchase a DVC resale for 100 points with 15 banked points do I pay maintenance fees on those banked points in 2009 (115 points instead of just 100)? I am a little confused about mf for banked points I guess.

No, you only pay MF on the 100 (amount the contract is for).

Fees are paid for the calendar year - so the fees for the banked points were paid last year (by previous owner).

 

[BankBunny]

No, you only pay MF on the 100 (amount the contract is for).

Fees are paid for the calendar year - so the fees for the banked points were paid last year (by previous owner).

Also, as part of the resale contract the seller may want you to pay them for the MF on the banked points at closing. For example: we are in the process of purchasing a small add on. The seller has already used the 2009 points. Our final sale price will be less the MF for those points since the seller has already used them. Hope that makes sense.