Referral to Members:Must you be officially "closed" to get referral fee?

[jerseygal]

How long after official contract signing can you get referral fee?

Must you be officially "closed" to begin getting a referral fee if you refer someone?

Much thanks!

 

[disneylvrnMS]

You should get it after the buyer has closed. You can check the DVC Member website and it will show up once the closing is complete.

However, I recently referred someone and they emailed me to confirm that they had purchased and closed but it is still not in the system showing that I qualify for the referral. They closed more than 4 weeks ago.

 

[jerseygal]

Must I officially be closed before beginning to refer or just have contracts signed and be out of 10 day buyer remorse period?

Much thanks as always!

 

[disneylvrnMS]

Sorry, not sure about that.

 

[PSC]

Sorry to hijack the thread, but does anybody know if the bonus is reported as taxable by Disney? Would the referring party expect a 1099 type form?

 

[jerseygal]

I would say the bonus is definately not reported by Disney; it isn't a "cash payment", "check" to the best of my knowledge; in the form of a Visa Gift Card.

 

[calypso*a*go-go]

Yes, according to the member website there is a 1099 form sent out for any referral bonus valued at $600 or more. So basically anyone that gets to level 3 or higher will need to declare it on their taxes.

 

[calypso*a*go-go]

Must I officially be closed before beginning to refer or just have contracts signed and be out of 10 day buyer remorse period?

Much thanks as always!

You aren't considered an actual member until you close...so I would think you'd have to complete that process before you'd be eligible to receive any referral bonuses.

 

[erin.w]

Where can I find information about the current referral? Found it on the dvcmembers website! Answered my own question!

 

[mickey mommy]

Where can I find information about the current referral? Found it on the dvcmembers website! Answered my own question!

We are totally new and inexperienced as to how the referral incentive works. How does the referral work, we just purchased AKV on Saturday and have no info in hand yet. What will my friend get for referring us? Just curious. I know we will be getting the $500 visa gift card.

Thanks!

 

[jerseygal]

This is just from memory from my guide..

I believe they said if this is the member's first referral, I think it is either $200 or $250 Visa Gift Card..The amount I think increases with a 2nd referral in any calendar yr.

 

[ljcrochet]

My FIL bought into DVC right after us, and we got the referral fee. In fact they got their deed in the mail the week before we did. We did have to call our guide to ask about the referral fee.

 

[buzz5985]

I just received a referral fee of $200 two weeks ago. My cousin and the party she was traveling with went on the tour. Her friends decided to purchase. They toured and signed the first week of August.