2019 dues due?

[patpluto]

Hi all,
Apologies I’ve got another question regarding dvc, I’m in the process of closing on a blt 160 points contract and as part of the deal 2018 dues were paid for by seller but on the contract it says I’ve to pay;
2019 Association Dues to DVCMC Association Manager 997.62 which wouldn’t include the dues increase due in 2019?
Is it normal to pay for the following years dues in advance when buying resale?
Patricia

[bighal]

Sounds about right. Dues are paid in advance in full unless you are playing monthly from a US bank account.

[YorkshireT]

Originally Posted by jellytots

Hi all,
Apologies I’ve got another question regarding dvc, I’m in the process of closing on a blt 160 points contract and as part of the deal 2018 dues were paid for by seller but on the contract it says I’ve to pay;
2019 Association Dues to DVCMC Association Manager 997.62 which wouldn’t include the dues increase due in 2019?
Is it normal to pay for the following years dues in advance when buying resale?
Patricia

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I think if it closes December or later DVC insist on the following years’ dues being paid before they’ll process it. Could have got that wrong and it could be January, but I have December in my mind from seeing it previously I think. I’ve never closed in December but ironically hopefully my next one will pass ROFR in the next week or so, so I’ll let you know!
That’s the only time you pay next years’ dues at closing, for example if you’d closed this month you would not have done as there is no mechanism to pay the following years’ dues unless DVD take it at closing which they don’t normally.

[patpluto]

Originally Posted by YorkshireT

I think if it closes December or later DVC insist on the following years’ dues being paid before they’ll process it. Could have got that wrong and it could be January, but I have December in my mind from seeing it previously I think. I’ve never closed in December but ironically hopefully my next one will pass ROFR in the next week or so, so I’ll let you know!
That’s the only time you pay next years’ dues at closing, for example if you’d closed this month you would not have done as there is no mechanism to pay the following years’ dues unless DVD take it at closing which they don’t normally.

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Ahh thanks for this explanation it makes a lot of sense, if only my closing company weren’t so slow I would have closed in November

[skstorm]

Sorry need to ask a further question as I am in the same position as yt, if my contract passes rofr will my 2019 dues need to be paid with closing costs? or would I have the option to pay them by credit card (was hoping to do this as less fees) I know I can’t pay closing costs via credit card.

[YorkshireT]

Originally Posted by skstorm

Sorry need to ask a further question as I am in the same position as yt, if my contract passes rofr will my 2019 dues need to be paid with closing costs? or would I have the option to pay them by credit card (was hoping to do this as less fees) I know I can’t pay closing costs via credit card.

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I think it will have to be part of the final transfer to the closing company rather than you paying seperately by credit card. I am hoping to hear shortly, I see someone had one taken yesterday so hopefully the next tranche is coming now.

[YorkshireT]

Update on the dues payment bit, yes I was correct if closing after 1/12 DVD insist you pay all next year’s dues at closing.
Given they don’t technically vote the dues through until mid December (albeit they do announce suggested amounts) it goes to show what a sham the ‘vote’ is!