Quick question regarding fees during sell

[Ratpack]

Our points are under contract and we received our closing papers today to sign. Of course they had a mistake so trying to get that fixed first. My question is regarding the maintenance fees. Currently I have them deducted each month. The closing or settlement date is June 24, however they will have already deducted my fee on June 18. So the figure in the closing documents includes the June amount. Should I call Disney and discuss this with them and possibly have them halt the June payment since it is planned to be taken out in the settlement funds? Or will Disney issue ME a refund for the extra and not credit the new owners?

 

[disneynutz]

Disney won't rip you off, I would wait until everything is done and then take a look at the dues issue and call DVC admin if there is a dues payment that didn't post correctly.

Bill

 

[Dean]

Our points are under contract and we received our closing papers today to sign. Of course they had a mistake so trying to get that fixed first. My question is regarding the maintenance fees. Currently I have them deducted each month. The closing or settlement date is June 24, however they will have already deducted my fee on June 18. So the figure in the closing documents includes the June amount. Should I call Disney and discuss this with them and possibly have them halt the June payment since it is planned to be taken out in the settlement funds? Or will Disney issue ME a refund for the extra and not credit the new owners?

Since monthly payments are actually being paid in arrears, I suspect they'll want the rest of this years payment at closing or before they transfer the title. Who pays the fees is ultimately determined by your contract. In general the agencies that broker DVC do this incorrectly by holding the core position that you get the points you pay the fees. Technically points are actually calendar based unlikely most other timeshares (all others I am aware of). For example, if you have an August UY, the fees due in Jan were for 8 months of the 2014 UY and 4 months of the 2015 UY. Your contract should spell out who pays what fees and the closing company should allocate the funds accordingly.