Q for pre-construction SSR owners

[Maistre Gracey]

We are in the process of planning our 2007 family budget, and of course that incldes a purchase at AKV.

I am wondering, and hope the early SSR folks can answer the following:

1) When was a deposit required?

2) When was closing in relation to your building being built?

3) If you financed through Disney, when was your first payment due? The month after closing or other?

4) When were your maintenance fees due in relation to closing?

In other words, AKV is slated to go on sale in March, and I plan to purchase imediately. Will I need to fork over a deposit at that time?
The opening is slated for October, so am I correct that the closing will be shortly prior and monthly payments will start at that time?
Also, will maintenance fees start in October?

Thanx everybody!!

MG

 

[Scratch42]

My Question to you sir.............

Who told you that they will be selling in March?

j

 

[tjkraz]

1) When was a deposit required?

It was the same process as buying now--they ask for $500 or so over the phone to start the paperwork, and the balance of the deposit is due at the time the docs are returned. If you're buying while on-site, I suspect they will want the entire deposit up front.

2) When was closing in relation to your building being built?

About 4-6 weeks before the building actually opened.

3) If you financed through Disney, when was your first payment due? The month after closing or other?

It was within 45 days of the building opening. All interest was deferred from the time of contract signing to the date the unit opened.

4) When were your maintenance fees due in relation to closing?

An annual budget for the first year was calculated, and members paid a pro-rated share based upon 7 months of ownership. The first SSR building opened in May '04, and the most anyone paid was 7/12 (June to December) of the published dues.

Due to the volume of sales being recorded all at once, I believe there was a delay and DVC didn't start collecting dues until July 1st, but that month it was a double payment to cover June and July. (We pay monthly, of course.)

Hope that helps.

 

[Maistre Gracey]

My Question to you sir.............

Who told you that they will be selling in March?

j

I am on a "waiting list" with my guide. She said to expect sales to start around March. Of course, this is not in stone.

MG

 

[Maistre Gracey]

Thanx tjkraz. That's just what I was looking for.

MG