Vero Beach dues question

[mamaofsix]

Could someone explain the subsidized Vero Beach dues to me? What qualifies an owner for the subsidized dues? If you buy a resale contract from someone with subsidized dues, will you also continue to have them subsidized?

 

[Sandisw]

Only contracts with subsidized dues stay that way.

Something happened years ago to create it...not exactly sure what as I was not an owner then.

If you buy a contract that is subsidized you keep that distinction.

 

[CarolMN]

Originally, VB was supposed to be a much larger resort built in two phases (with the second on property across the road). The second phase was never built. The original dues were set based on the larger resort (so the maintenance costs would be spread over a larger number of villas). Those who bought prior to the decision not to build the second phase have their dues subsidized.

 

[KAT4DISNEY]

The subsidize does pass with the contract although it's been awhile since I've seen one. Used to see them although it was rare.

 

[CarolynFH]

I suspect those subsidized dues contracts are more likely to be taken in ROFR, so they should sell for a slight premium.

 

[KAT4DISNEY]

I suspect those subsidized dues contracts are more likely to be taken in ROFR, so they should sell for a slight premium.

They always passed whenever someone reported much like Aulani subsidized do. AFAIK those points have to remain subsidized so it would be pretty much impossible for DVC to repackage and sell them.

 

[CarolynFH]

They always passed whenever someone reported much like Aulani subsidized do. AFAIK those points have to remain subsidized so it would be pretty much impossible for DVC to repackage and sell them.

Thanks - I didn’t realize they would remain subsidized - good deal for anyone picking them up!

 

[bobbiwoz]

Thanks - I didn’t realize they would remain subsidized - good deal for anyone picking them up!

Sure are!

 

[Emmett2020]

Just signed closing documents on a subsidized contract…..imagine our surprise (and apparently the broker was pretty surprised too). Came in on the estoppel. Crazy, huh? So, wouldn’t hurt to ask your seller/ broker if it’s subsidized ahead of time.

 

[KAT4DISNEY]

Just signed closing documents on a subsidized contract…..imagine our surprise (and apparently the broker was pretty surprised too). Came in on the estoppel. Crazy, huh?

Nice! Congratulations!!!

 

[MICKIMINI]

I know this is an older thread, however here is an update for subsidized VBR MF's per point for 2022 for anyone researching these rare contracts:

Operating is $8.8284, Reserves $2.4847 and Est. Property Taxes $0.6274

Subsidization is 1995 Developer Credit -$1.4234, 1995 Developer Subsidy -$2.1447, 1995 Reserve Subsidy -$0.3490

My 50 point VBR Subsidized for 2022: $7.396 PP vs $11.31 non subsidized

I saw a higher PP noted (I forgot where) but I took these numbers right off my Annual Dues Statement.

 

[The Jackal]

I suspect those subsidized dues contracts are more likely to be taken in ROFR, so they should sell for a slight premium.

The subsidized dues have to stay with the points. If DVC buys it back and later sells them the subsidized dues go with them.