Selling dvc and dues

[stephk1981]

We are selling one of our contracts, it has passed ROFR. We have a February use year. In our contract it says buyer will pay dues for 2022 points. I signed the papers, and had them notarized the day after receiving them at the title company. It is now 5 weeks later and the buyer has not returned their portion, the title agent says she is still waiting for them to return it. Should I be paying dvc the 2022 dues, if I do, how will I be reimbursed for these? Thanks!

 

[Marionnette]

We are selling one of our contracts, it has passed ROFR. We have a February use year. In our contract it says buyer will pay dues for 2022 points. I signed the papers, and had them notarized the day after receiving them at the title company. It is now 5 weeks later and the buyer has not returned their portion, the title agent says she is still waiting for them to return it. Should I be paying dvc the 2022 dues, if I do, how will I be reimbursed for these? Thanks!

Unpaid dues are a lien against the contract. If you have not paid the 2022 dues by now, you are late and in the penalty phase. Pay them now before the penalties get worse or prevent the sale from going through. The buyer will pay the amount for the dues at closing and you will be reimbursed that way.

 

[Sandisw]

You will have to pay the dues in full before they will close the contract. You will then be reimbursed at the sale

 

[stephk1981]

Thank you!

 

[stephk1981]

You will have to pay the dues in full before they will close the contract. You will then be reimbursed at the sale

I just looked at the contract again, it states buyer will pay dues at closing. So I should still pay them though? Thank you!

 

[CaptainAmerica]

I just looked at the contract again, it states buyer will pay dues at closing. So I should still pay them though? Thank you!

The buyer pays YOU the dues. YOU pay DISNEY the dues.

 

[princesscinderella]

I just looked at the contract again, it states buyer will pay dues at closing. So I should still pay them though? Thank you!

Yes pay them through Disney, you will get reimbursed through the buyer as part of your sales proceeds

 

[Marionnette]

I just looked at the contract again, it states buyer will pay dues at closing. So I should still pay them though? Thank you!

The buyer will reimburse you at closing. The sale cannot be completed with any liens against the property. Unpaid dues are a lien against your contract. If you were paying your dues via monthly withdrawals from your checking account, you would have to pay off the entire balance owed before you can close.

 

[reck]

The estoppel and other paper work from disney should let title company what money to withhold from seller proceeds if there would be any, contact title company and see if they have been instructed by disney hold back any of your proceeds from sale. Speaking from personnel experience in the matter.

 

[Sandisw]

The estoppel and other paper work from disney should let title company what money to withhold from seller proceeds if there would be any, contact title company and see if they have been instructed by disney hold back any of your proceeds from sale. Speaking from personnel experience in the matter.

Except with dues, the seller has to pay them before the title company will close the contract.

They will not hold back proceeds to send to Disney for this.

For a loan with Disney, they will but I have sold a lot of contracts over the years and always had to pay dues in full prior to closing.

 

[RoseGold]

I'd call your title agent. They need to be getting this handled anyway.

 

[kevtlas]

Except with dues, the seller has to pay them before the title company will close the contract.

They will not hold back proceeds to send to Disney for this.

For a loan with Disney, they will but I have sold a lot of contracts over the years and always had to pay dues in full prior to closing.

Absolutely agree.

 

[reck]

Well, in my experience they will.