Dues at Closing

[Kelly T.]

Hi everyone!

I just passed ROFR yesterday (yay!) and I am now awaiting the closing documents.

According to my contract, if I close after December 1 I will be responsible for paying the 2020 dues at closing.

I understand that the closing documents can take up to 3 weeks to be sent to me but hypothetically, if I were to receive my closing documents and send them back by December 1 what would I end up paying at closing?

I have read other posts where most people send their payment in with the closing docs. However, I understand that the seller has to send their documents in as well before the contract can technically close.

If I send my closing docs with payment but end up closing after December 1st, will I need to send in a separate check for the maintenance fees?

Any insight on this would be greatly appreciated!

 

[Sandisw]

Yes, in order to close, the seller and buyer need to get in everything. Since the seller needs to have things notarized, it can delay it a bit, depending on how easy or hard that is.

Since we are already mid November, I would assume you will be paying the dues. But if you send in your money and then it’s not closed by December 1st, your need to send in the additional funds.

 

[zapple]

I just got my closing docs today and they already had the 2020 dues added into my amount due. I assume they do this just in case there is a delay and they don't get all the documents in time from the seller or buyer. I was hoping to pay them with a disney gift card in January, but it looks like I'm just going to have to pay it early.

 

[Jenniebee]

Yes I just went through a similar thing. When you get your closing docs it will give you a breakdown of the closing costs and it will tell you exactly what amount to pay. If you are close to a dealine where it may change they will tell you, for example it will say if you do not return by a certain date the cash to close will have to be recalcluated to include the dues. At this point in the month, I would assume you will have to pay them, but the title company will tell you.

 

[kim532]

I got my closing docs yesterday and my title company did not have the 2020 dues on there, however, they did note that we may need to redo forms if we do not close and get the paperwork to Disney by Dec 1st.