Paying Maintenance Fees on Accounts in Escrow

[Schooner Member Find all posts View Profile Close Schooner]

I have a new CSV-I account with DRI established in November. I have yet to be billed maintenance fees for 2008. I have tried to pay to avoid late payment charges but the DRI folk at the call center tell me just to wait as I will receive a fresh new bill from DRI with the charges and no late fees. This is good! Nevertheless, I have some doubts as I am also going through escrow on four other resales (Polo, Powhatan, Greensprings & Ridge) and am getting contrary advice from the closing/title companies. They keep urging me to pay the fees billed to the previous owners to avoid any late payment penalties or other sanctions such as loss of a guaranteed fixed week or some other calamity that might delay the transfers.

The folks at DRI advise to hold off on these as well. The call center agent maintains fees will be billed to me by DRI without penalty once the deeds transfer, etc. I like DRI's advice (otherwise I would be paying someone else's account) but has it been the experience of others that transfer property over the year end that no penalties are assessed? Is DRI's advice the best course of action?

[Spence Super Moderator Find all posts View Profile Close Spence]

I have a new CSV-I account with DRI established in November. I have yet to be billed maintenance fees for 2008. I have tried to pay to avoid late payment charges but the DRI folk at the call center tell me just to wait as I will receive a fresh new bill from DRI with the charges and no late fees. This is good! Nevertheless, I have some doubts as I am also going through escrow on four other resales (Polo, Powhatan, Greensprings & Ridge) and am getting contrary advice from the closing/title companies. They keep urging me to pay the fees billed to the previous owners to avoid any late payment penalties or other sanctions such as loss of a guaranteed fixed week or some other calamity that might delay the transfers.

The folks at DRI advise to hold off on these as well. The call center agent maintains fees will be billed to me by DRI without penalty once the deeds transfer, etc. I like DRI's advice (otherwise I would be paying someone else's account) but has it been the experience of others that transfer property over the year end that no penalties are assessed? Is DRI's advice the best course of action?

Sounds like your first mentioned CSV-1 is about there and the CSR's recommendation may be fine, I'd certainly log who said it and when. As to the others, it doesn't matter if it's being transfered, the week still has MFs due on a certain date and late fees may well be assessed. If they're in true escrow than you should be able to pay the escrow company and they should then pay the fees while guaranteeing everything else they're doing for you. I would not let them lie as when there is a late fee after you take possession the escrow company may well tell you, I told you so. Then again, it may come down to the transfer not being recognized by the resort until the MFs are up to date!

[Schooner Member Find all posts View Profile Close Schooner]

Thanks for the quick advice. This makes sense to me. ( I think you intended "I would not let them lie....") Unfortunately one of the closing companies I am dealing with is legendary on this site for being unreachable and the other two don't want to handle payment of maintenance fees as part of their "service" . My problem, I will just keep pushing.