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Old 08-13-2019, 12:18 PM   #51
DVCQUEEN
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Quote:
Originally Posted by Lamima View Post
Don't think HHI folks at 7 months will ever get a studio at RR, nor many of the other options you mentioned (TPV at BLT or Club level at AKV or VGF studios) so buying a smaller HHI/VB contract will get you HHI/VB studio at 11 months or 1BR at 7 months or studio at SSR or AKV (not value or club) at 7 months. Limited but do-able. I think if one is going to go the HHI/VB route with hopes to use at RR (and get all the perks) they really need to go big and get 150+ contract. If buying small, go with RR and get that 11 month window. I think it's more folks wanting to do the VB/HHI over WDW in order to avoid all the crazy expenses with park going (and crowds/chaos). Probably add ons and they want full perks plus summer 11 month window at the beach (can still get off season at 7 months or rent out WDW points or bank to do trip every other year).
I just broke down the math on the minimum purchase for benefits. For every 75 points direct at HHI/VB, save 3k over purchasing RR direct.
On 150 points, that's over 6k saved over purchasing RR. That's significant.

I agree that DVC is selling larger blocks of HHI/VB points direct as an entry to RR larger 1/2/3 bed villas at 7 months. Hence the increase in ROFR activity for these resorts. There are multiple ways to visit VB/HHI without owning DVC and many cost less and offer better locations so my opinion is this uptick is attributable to what those cheap points can purchase at RR and the fact that SSR and AKV/OKW are all similar priced on resale market but cant get you into RR either.
So the choice laid before the purchaser is buy resale, forego RR on points and Direct Benefits.
Buy Direct and pay $176+ or
purchase direct at one of the Beach Resorts and save money and get access to the full line of resorts and benefits.

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Originally Posted by MouseOfCards View Post
Wow, didn't realize there were direct prices that low! So used to seeing the approx $200 and up ranges. You folks are right, that is a cheap way to get into other/newer resorts.
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Old 08-13-2019, 01:30 PM   #52
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Well.......I hope that you are right.

We like to go to HHI in the shoulder and off seasons. We donít want to own there because of the MFs and hurricane risk.

If these buyers really intend to use the points at RR, that will make it easier for me to trade in at 7 months.
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Old 08-13-2019, 02:21 PM   #53
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Default Second in ROFR

I have another contract in ROFR will know in couple weeks what happens.
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Old 08-13-2019, 06:51 PM   #54
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Hey Rakesh ,
I am assuming you also have to deal with the non SC resident sellers affidavit form I295 and 7% tax withholding for capitol gains as well ? DANG South Carolina !

We did have a gain on our selling price vs our purchase price , including subtracting commission, but if I figure in the yearly annual fees for 5 years , we come out with a loss . I think I am doing this right ? May have to talk to my accountant or attorney .
Didnt see this one coming ! Dang SC wants a piece of everything !

Also, I noticed in our paperwork that I do not see where we were charged an estoppel fee ? Assuming because Disney ROFRed our contract , there is no estoppel fee ?

Just wondering if you were experiencing the same things ........
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Last edited by Syndrome; 08-13-2019 at 07:00 PM.
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Old 08-13-2019, 07:12 PM   #55
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Quote:
Originally Posted by Syndrome View Post
Hey Rakesh ,
I am assuming you also have to deal with the non SC resident sellers affidavit form I295 and 7% tax withholding for capitol gains as well ? DANG South Carolina !

We did have a gain on our selling price vs our purchase price , including subtracting commission, but if I figure in the yearly annual fees for 5 years , we come out with a loss . I think I am doing this right ? May have to talk to my accountant or attorney .
Didnt see this one coming ! Dang SC wants a piece of everything !

Also, I noticed in our paperwork that I do not see where we were charged an estoppel fee ? Assuming because Disney ROFRed our contract , there is no estoppel fee ?

Just wondering if you were experiencing the same things ........
I have not received my paperwork from dvc yet so donít know. 7% withholding is lot so in 2019 I will end up filing two state tax return.

Sure I have some capital gain in both but I did not knew I can write off MF for all yrs we paid. My tax usually done by my CPA so will see how this plays out. 3 more contracts to go next.
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Old 08-13-2019, 07:17 PM   #56
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Originally Posted by disney65 View Post
I have not received my paperwork from dvc yet so donít know. 7% withholding is lot so in 2019 I will end up filing two state tax return.

Sure I have some capital gain in both but I did not knew I can write off MF for all yrs we paid. My tax usually done by my CPA so will see how this plays out. 3 more contracts to go next.
Its just 7% on the capitol gains , not the sale price .......but still !
This is not part of your yearly taxes, but a seperate withholding tax that has to be filed with the state of SC , within 15 days of closing .

I got my paperwork today and still trying to wrap my head around this. Didnt see this one coming !

Will call the closing attorney , and see what she has to say about it, and if I can deduct my annual fees from the capitol gains (which will put me at a loss instead of a gain) . If not, I will have to pay 7% of the gain total to SC for the sale.
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Old 08-13-2019, 07:49 PM   #57
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I think you can only subtract a partial MF paid...like not all of it but a small part (it's something like $2pp and I forget what part of the MF it is).


Found this at: https://www.redweek.com/resources/ar...ling-timeshare

Calculation of Gain or Loss
Your gain or loss is the difference between your tax cost and your selling price, net of any selling expenses.

Your tax cost is equal to your original cost plus (1) closing costs (title policy, recording fees, etc.) paid upon purchase, (2) the part of your annual maintenance fees apportioned to capital reserves and (3) any special assessments for capital needs which you paid. Special assessments for operating needs should not be included in your tax cost. To determine the portion of your annual fees that were apportioned to capital reserves each year, you might have to contact the homeowners' association ("HOA") if resort financial statement and budget information hasn't been sent to you annually or if you haven't retained it.

Selling expenses include sales commission, advertising, listing fees, recording fees and other expenses incurred for the purpose of selling your week.
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Old 08-14-2019, 12:24 PM   #58
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I have not yet been to VB, but HHI is the best kept secret.
I just returned from a first time trip to HHI in a 2 BR. All I have heard is how great it is at HHI. I have no idea what rooms other people stayed in, but I can tell you, the 2 BRs and specifically on a 1st floor have significant noise issues. Yes, the grounds are beautiful. I loved the big porches. But, the walls are paper thin. The master bathroom is in desperate need of an upgrade. I could go on but won't. IMO, a refurb will not help the critical noise issues facing this resort.
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Old 08-15-2019, 05:19 AM   #59
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I just returned from a first time trip to HHI in a 2 BR. All I have heard is how great it is at HHI. I have no idea what rooms other people stayed in, but I can tell you, the 2 BRs and specifically on a 1st floor have significant noise issues. Yes, the grounds are beautiful. I loved the big porches. But, the walls are paper thin. The master bathroom is in desperate need of an upgrade. I could go on but won't. IMO, a refurb will not help the critical noise issues facing this resort.
You are so right on about the noise. I didnít even go there with my last comments about the conditions of the rooms. The noise is such a disruption, if you donít get a top floor, it could totally ruin the vacation. We had our room moved from first floor to third. Still heard plenty of noise from our neighbors, but much less than on the first.
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Old 08-15-2019, 09:12 AM   #60
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I agree with the noise. Aside from hearing the folks above you hear the 7am leaf blowers since there seems to be a gap under front door. If staying in building next to pool, you'll hear all that noise. Our very first visit we were in a 1BR in the main building and our master bed headboard backed up to the whole floor's HVAC fans (there was a deck on other side of the master wall that had like 20 fans and some were super noisy). That made me not really like DHHIR and it was years before we went back. But the people noise, typically, is done by 10-11pm....and starts up around 7am. That's my typical sleep time 11-7 anyway so I am good. I just hope they don't remove the jetted tubs in the renos but I have a suspicion they will.

Another negative is the small parking lot with tight spaces.

Still I love it there. Love love love it. More positives than negatives, IMO. I'll be there in just 12 days
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