ok DIS board - made a deal now need help FAST!

[MIALIAS]

I made an offer and got a deal set! Excited! So a few fast questions...

1) What is the customary deposit % that you put down?
2) It goes in escrow - so is it better to give credit card or check?
3) Marital status - my fianace and I are getting married this year - what do we put?
4) This is also for my grown children from my 1st marriage should I put them on the deed as well?


Thanks in advanced!

 

[Missyrose]

I made an offer and got a deal set! Excited! So a few fast questions...

1) What is the customary deposit % that you put down?

Congrats on getting your offer accepted. Deposits are usually $500.

2) It goes in escrow - so is it better to give credit card or check?

If you use a credit card, you can email or fax back the signed contract. If you use a check, you're going to have to send it snail mail.

3) Marital status - my fianace and I are getting married this year - what do we put?

I'm fairly certain that you should put single since you're not married YET.

4) This is also for my grown children from my 1st marriage should I put them on the deed as well?

You have a couple of things to think about here. You could just have the deed in your's and your fiancee's names, then add your grown children as associate members after the membership is transferred. Associate members can make/change reservations, but they don't get membership cards (or any of the membership perks -- DVC APs, TIW, etc. unless they live at the same address as you).

If you do want to add them to the deed, then remember that for any additional contracts you want to buy in the future, you'll have to deed them exactly the same way for it to be added to your current membership number.

Hope this helps!

 

[MIALIAS]

for my kids is it better just to leave it to them in my will. Is that easier?

 

[Lynne M]

If you put your kids on the deed, they are co-owners of the contract. They can make/change/cancel reservations, and they are eligible for any perks that may be offered to members. Should any of them declare bankruptcy or divorce, the contract will be in play, and you may be forced to sell. I believe they would also need to list it as an asset on any college financial aid forms for their own kids.

If you make them associate members, they can make and change reservations (not sure if they can cancel), but none of the rest of what I said above applies.

You can not have them on the contract at all, manage all the reservations yourself and leave it to them in your will, but if your fiancee is on the deed, I don't know how that would work, if she outlives you.

 

[Breyean]

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