Resale questions

[Anniegirl]

I am hoping to purchase a resale soon , although hubby tells me we need a new roof first (what's the matter with the buckets in the attic? ).
Anyway, we let a fab opportunity pass us by while we chatted more about it. Is it typical to have to pay the maintenance fee/taxes on banked or currently available points in a reasle contract? Or do they just generally "sweeten" the deal? Is this a negotiable point...I'm guessing everything is negotiable, just depends on how motivated everyone is. Thanks for sharing your experiences!

 

[bobbiwoz]

You're right that everything is negotiable. We paid current year dues on the points, but not on the banked points when we bought VB resale. Our VWL resale didn't come with anything banked and we paid current year dues on the current points. I'm pretty sure that we paid closing costs both times.

Bobbi

 

[tamu91]

Our VWL came with some banked points from the previous owners and we did not pay maintenace fee for those points. We did pay the current dues ( reimbursed the owners) but as you mentioned, everything is negotiable. However, buyers paying closing costs is pretty typical. I'd hold out for a resale contract with banked points and most of those don't make it on to the resale board so contact your resale agent. Tell them exactly what you're looking for and see what they can do.
Good luck on your search....

 

[JimMIA]

We did the same -- paid for current points, did not pay for banked. I think that is pretty standard.

Although...if you want a bargaining chip...there is another school of thought on dues, and that is that they apply to calendar year, not use year -- and therefore have nothing to do with points.

The rationale for this is that dues do - in fact - run by calendar year. They cover things like maintenance, taxes, insurance, etc for a specific calendar year. They are billed in December and are due in January. People who close late in the year and aren't aware of that often get surprised by the dues bill.

If you buy direct from Disney you pay the dues from your closing date through the end of that calendar year. Disney has been running an incentive where they pay all dues for 2005, and many people have lost sight of the way Disney usually computes who owes what.

Following that logic, a resale buyer would owe nothing on 2004 points (you didn't own the contract during 2004, and shouldn't have to pay for buses that ran then, insurance that was in effect then, 2004 taxes, etc). You would only owe 2005 dues from closing to the end of 2005. The person you are buying from probably bought from Disney, and undoubtedly had THEIR first year of dues pro-rated in this manner.

Everything IS negotiable, but I think the paramount consideration in buying a resale (much more important than who pays what dues) is being sure to pass ROFR. If you do that, the seller will get more than a fair price, and you will be buying at the going rate. Anything less and Disney and the seller will be happy, but you will not.

 

[jiggerj]

I am hoping to purchase a resale soon ,although hubby tells me we need a new roof first (what's the matter with the buckets in the attic? ).

LOL!!! That is exactly what my DH told me too! I read somewhere on this board someone had said that you are dead alot longer than you are alive and ya know what... well...they are right! People might disagree with me but I say go for it! You can always put a new roof on or buy a few more buckets! If you feel its a right time to do it then do it! Good luck with either decision!

 

[Cruelladeville]

We recently closed on an OKW contract, and paid no dues on a full year of banked points, and only 1/2 the dues for this year(I figured that it's June, and they had the points for 6 months) Everything is negotiable--if you don't get an owner to agree to your terms, you can always find someone who will.