Resale questions

[nicunurse]

Currently put in an offer on a resale contract at AKL. A few questions we have been having a hard time finding answers for or mixed answers.


1)If we borrow from our future points are there any fees involved.

2) Fees are due in January or monthly. If we do monthly payments starting in January of 2024- are those for 2024 in full or are they for the year prior. As in they are due for 2024 in full in January of 2024 so any monthly payments we would make would be for the payment that is due in January of 2025?

3) We are reading that yes we can book concierge at akl with a resale contract but that last yes post was from 2019. Are these points now banned from akl concierge bookings?

 

[lexxus379]

1. No but you will still pay dues in 2025 even if you don’t have any points for that year.
2. Dues are for current year so if you pay in Jan 2024 those are for 2024. If you make monthly payments it’s still for current year. If you make any over payments, it will go toward 2025 dues.
3. Yes you can book concierge if you can get it

 

[intamin]

As stated above there are no fees associated with the act of borrowing points but you will pay your dues like normal on those points when the year comes. Usually if a resale contract is stripped of future years of points the seller will reimburse a buyer for the estimated dues of those points. You are not blocked from booking any rooms at AKL with resale AKL, the only thing you're blocked from is booking at Riviera or VDH.

 

[RoseGold]

I mean this kindly, you have ten days to rescind, and you don't seem to know a lot about this product. You can read your contract about how to cancel. There are plenty more contracts.

Borrowing can be suspended at any time (like it was during Covid). It's also possible that DVC requires upfront payment of dues as contracts approach the end of their life. Right now, they don't care and will just foreclose, but that could flip. Right now, you just borrow and pay the dues when they come due, which could be a long way off.

Anyone with any DVC points (except currently RIV or DLT resale) can book any AK, including club level, which is what I think you mean by "concierge." I would not expect much actual concierge help from Disney in general. If you are used to real concierge service in another brand, you will be disappointed. DVC is not the product for you if you are looking for service, generally speaking.

 

[DonMacGregor]

Simple answer to question #2:

The dues you are invoiced for in January of every year are dues for that calendar year [the invoice we will receive in January of 2024 (actually this December, but dated January) will be for 2024 dues]. You do not pay dues in advance. If you decide to pay monthly, you are still paying for the current year's dues. The money isn't going into an "escrow" account to build up to pay 2025 in full, for example. You're just paying 2024 in installments like a car loan, but without interest.

As others have said (but trying not to answer a question that wasn't asked), regardless of your points status in a given year, and even if you're borrowed all of the points for a given year (again, let's assume 2024) and you have no points available to take a trip in calendar year 2024, you'll still get an invoice for dues for that year. Some people seem to think that is unfair, but dues pay for services, resort upkeep, refurbs, transportation, housekeeping, etc., and even if you don't travel in a particular calendar year, you still used your points somewhere at some time and stayed the same number of days (maybe twice in the year before or after, etc.) and enjoyed the same services and put the same wear on the resort.

 

[nicunurse]

I mean this kindly, you have ten days to rescind, and you don't seem to know a lot about this product. You can read your contract about how to cancel. There are plenty more contracts.

Borrowing can be suspended at any time (like it was during Covid). It's also possible that DVC requires upfront payment of dues as contracts approach the end of their life. Right now, they don't care and will just foreclose, but that could flip. Right now, you just borrow and pay the dues when they come due, which could be a long way off.

Anyone with any DVC points (except currently RIV or DLT resale) can book any AK, including club level, which is what I think you mean by "concierge." I would not expect much actual concierge help from Disney in general. If you are used to real concierge service in another brand, you will be disappointed. DVC is not the product for you if you are looking for service, generally speaking.

No need to cancel our contract. We haven’t signed any paperwork not received a contract to read. Buyer accepted our offer and we are waiting on the paperwork.

We know enough about the product as we have rented points every single year for over 8 years. Sometimes twice a year. We just needed some questions answered that are not making sense.

None of these three questions would indicate to me someone is uneducated about their potential purchase. Instead it would seem someone asking is looking for answers. But thank you for your advice.

 

[nicunurse]

Simple answer to question #2:

The dues you are invoiced for in January of every year are dues for that calendar year [the invoice we will receive in January of 2024 (actually this December, but dated January) will be for 2024 dues]. You do not pay dues in advance. If you decide to pay monthly, you are still paying for the current year's dues. The money isn't going into an "escrow" account to build up to pay 2025 in full, for example. You're just paying 2024 in installments like a car loan, but without interest.

As others have said (but trying not to answer a question that wasn't asked), regardless of your points status in a given year, and even if you're borrowed all of the points for a given year (again, let's assume 2024) and you have no points available to take a trip in calendar year 2024, you'll still get an invoice for dues for that year. Some people seem to think that is unfair, but dues pay for services, resort upkeep, refurbs, transportation, housekeeping, etc., and even if you don't travel in a particular calendar year, you still used your points somewhere at some time and stayed the same number of days (maybe twice in the year before or after, etc.) and enjoyed the same services and put the same wear on the resort.

Our contract has points for 2024 but they won’t be active until December of that year. We are just trying to determine if we owe dues for 24 in full in January or if we can pay monthly on our dues all of next year. Both will work one will just be easier than the other.

 

[nicunurse]

I mean this kindly, you have ten days to rescind, and you don't seem to know a lot about this product. You can read your contract about how to cancel. There are plenty more contracts.

Borrowing can be suspended at any time (like it was during Covid). It's also possible that DVC requires upfront payment of dues as contracts approach the end of their life. Right now, they don't care and will just foreclose, but that could flip. Right now, you just borrow and pay the dues when they come due, which could be a long way off.

Anyone with any DVC points (except currently RIV or DLT resale) can book any AK, including club level, which is what I think you mean by "concierge." I would not expect much actual concierge help from Disney in general. If you are used to real concierge service in another brand, you will be disappointed. DVC is not the product for you if you are looking for service, generally speaking.

We are not looking for concierge service. We are intrigued by the club level rooms at akl which we tried to book during covid but we’re not available. The realtor we reached out to to ask this question did not know the answer but someone did understand my question and answered it above.

Simple answer to question #2:

The dues you are invoiced for in January of every year are dues for that calendar year [the invoice we will receive in January of 2024 (actually this December, but dated January) will be for 2024 dues]. You do not pay dues in advance. If you decide to pay monthly, you are still paying for the current year's dues. The money isn't going into an "escrow" account to build up to pay 2025 in full, for example. You're just paying 2024 in installments like a car loan, but without interest.

As others have said (but trying not to answer a question that wasn't asked), regardless of your points status in a given year, and even if you're borrowed all of the points for a given year (again, let's assume 2024) and you have no points available to take a trip in calendar year 2024, you'll still get an invoice for dues for that year. Some people seem to think that is unfair, but dues pay for services, resort upkeep, refurbs, transportation, housekeeping, etc., and even if you don't travel in a particular calendar year, you still used your points somewhere at some time and stayed the same number of days (maybe twice in the year before or after, etc.) and enjoyed the same services and put the same wear on the resort.

we understand, and other than borrowing future points for a one night stay on passing through next year we bought the contract knowing we would be paying 2024 dues regardless of taking a trip or not, we actually just got back this weekend so we’re not intending to go next year so missing points wasn’t to important to us - a more important was the cost per point we offered. We just were trying to determine if we needed an extra $1500 come January or if we could space it out next year. Thank you for your informative reply, it helped clear it up.

 

[DonMacGregor]

we understand, and other than borrowing future points for a one night stay on passing through next year we bought the contract knowing we would be paying 2024 dues regardless of taking a trip or not, we actually just got back this weekend so we’re not intending to go next year so missing points wasn’t to important to us - a more important was the cost per point we offered. We just were trying to determine if we needed an extra $1500 come January or if we could space it out next year. Thank you for your informative reply, it helped clear it up.

Also, as an FYI, while the annual dues are due on 1/15, you actually have until 2/15 to pay them before they are considered late. You can also set up auto-pay using a bank account (checking or savings) but if you want to use a gift card, for example, you can do so by going in before your monthly auto pay date and making an additional payment using the gift card. The system will see the payment and automatically cancel the auto-pay for that month. It's a nice way to save a few bucks if you get the gift cards at Target or Costco or some other retailer that offers them at a discount.

 

[intamin]

Our contract has points for 2024 but they won’t be active until December of that year. We are just trying to determine if we owe dues for 24 in full in January or if we can pay monthly on our dues all of next year. Both will work one will just be easier than the other.

You will begin to owe dues in January 2024 since you are receiving points in December 2024. They give you the option to choose if you want to pay in full or do monthly payments if you would prefer.

 

[nicunurse]

You will begin to owe dues in January 2024 since you are receiving points in December 2024. They give you the option to choose if you want to pay in full or do monthly payments if you would prefer.

Thank you! This is what we were hoping.

 

[CarolynFH]

Thank you! This is what we were hoping.

To clarify a little more, dues are assessed and paid on a calendar year basis, because they’re for operating the resort during that calendar year. They have no relationship to UY. So if you are a DVC owner on January 1, 2024, you will owe dues for calendar year 2024 based on your home resort’s per-point dues.

When people buy directly from DVD, they pay dues for that calendar year, prorated from the date they sign the purchase contract. When people buy resale, who pays dues for which calendar year is negotiable, often based on availability of points for that UY, and that makes it very confusing!

 

[nicunurse]

To clarify a little more, dues are assessed and paid on a calendar year basis, because they’re for operating the resort during that calendar year. They have no relationship to UY. So if you are a DVC owner on January 1, 2024, you will owe dues for calendar year 2024 based on your home resort’s per-point dues.

When people buy directly from DVD, they pay dues for that calendar year, prorated from the date they sign the purchase contract. When people buy resale, who pays dues for which calendar year is negotiable, often based on availability of points for that UY, and that makes it very confusing!

Yes this is what my understanding in and totally works. Just was trying to figure out if we had to pay them in full for 2024 in January or could pay them monthly during the year of 2024.

TY for the clarification!

 

[Sandisw]

Yes this is what my understanding in and totally works. Just was trying to figure out if we had to pay them in full for 2024 in January or could pay them monthly during the year of 2024.

TY for the clarification!

We do set it up monthly, but there are times when we get a discount on gift cards and buy with ur CC and then go in and apply them to the monthly dues.

And, there have been times that we decided mid year to simply use the CC to pay the balance off early. So, setting it up monthly really allows lots of flexibility.