Help - seller didn't bank

Vacation Kathy

DVC Member Since 1994
Joined
Apr 9, 2008
I just agreed to purchase a resale contract with an August UY and the seller didn't tell the broker that the contract has a full year of unbanked points from the current UY. Is it possible to save any of those points? I am not complaining about my deal, but the idea of a full year's points being wasted kills me! I know there used to be a "super-secret-once-in-a-lifetime" banking waiver, but I have not heard of that lately. Any ideas?
 
Have your broker contact the saler to "see" if MS will bank the points for them. Get it in writing that they did so and is part of the contract before sending to ROFR.
 
This is so weird because someone else just posted this exact same situation. The seller for sure had missed their banking deadline. He/she came back and posted that the broker/seller worked it out and got it banked. I don't know how, but it was done. So, there is hope!
 
Thanks! I found the other thread that talked about a similar situation. I also talked to the broker and confirmed there is no way the seller can bank these points. I wonder if there is any chance at all that we could get through ROFR and close and have access to these points in time to use any of them? I have family in the area that could use them with no notice, but I just can't see any way to get it done and get a reservation. I have never lost a single DVC point since 1994, so the idea of 200 points going to waste, not matter who owns them, is killing me! :crazy2:
 


Thanks! I found the other thread that talked about a similar situation. I also talked to the broker and confirmed there is no way the seller can bank these points. I wonder if there is any chance at all that we could get through ROFR and close and have access to these points in time to use any of them? I have family in the area that could use them with no notice, but I just can't see any way to get it done and get a reservation. I have never lost a single DVC point since 1994, so the idea of 200 points going to waste, not matter who owns them, is killing me! :crazy2:
Perhaps you could have them transferred to your existing account immediately? At this point, they will go unused, so there's no real harm, even if the contract gets taken by Disney. (Transferred points aren't bound to the same banking deadline)
 
We just had this happen. Our use year is sept though. Disney let the sellers use a one exception to bank the points. Good luck
 
We have this on a contract in ROFR now, but we were told the seller couldn't bank them because it is a bankruptcy situation. Not sure if that's true, though. But do you think it might be a similar thing for yours? At any rate, I agree, trying to rent them out or transfer them for someone's last minute vacation is probably the best you can do. Even still- that smaller amount of money is better than nothing!
 


Same thing happened to us last year with an Aug use year too. Ours was a bankrupt contract from Canada, was told since of their situation they couldn't have baked the points since they owed money on the contract. We got our member number 10 days before Aug, thankfully when we got our member number Disney offered to bank our almost expired points for us. They said they do it often for new contracts. I bet you will have the same luck as us!
 
Same thing happened to us!
Thanks for the tip! This is an unpaid mortgage so no banking, using or transferring the points. The broker is moving as fast as possible -- went to ROFR this afternoon -- so maybe it's possible that we will get the points in time to make a last minute banking request. Fingers crossed!
 
I lost the unused/too late to bank points on the resale contract I bought - we didn't close before they expired and the divorcing sellers weren't willing to try and save them. Good thing I assumed those points would go poof - but it still bugged me.
 
Same thing happened to us last year with an Aug use year too. Ours was a bankrupt contract from Canada, was told since of their situation they couldn't have baked the points since they owed money on the contract. We got our member number 10 days before Aug, thankfully when we got our member number Disney offered to bank our almost expired points for us. They said they do it often for new contracts. I bet you will have the same luck as us!
Agree not sure why our seller didn't bank the points but they were set to expire March 31 this year and when we got our DVC # in late Feb DVC let us bank the points as a courtesy. They actually offered when I was trying to figure out if there was anyway I could use them before the expiration. If they won't then I would suggest trying to rent them out through David's or the timeshare store-at least get some money out of them :)
 
I agree 200 points is too many to just let them go poof. That's a lot of money. If it closes before August first, I would ask Disney to bank them.
 
Update - learned yesterday of closing on our BLT contract. Unfortunately, with an August UY, we lost 210 pts because we could not get access in time to bank by 8/1. :sad::sad::sad:
 
Sorry you weren't able to save them - I know in my case the one seller dragging their feet to get the closing doc.s back pushed us beyond any hope of using the 'lost' points, which was really frustrating, I have to believe the taking forever to close thanks to the excessive estoppel as well as other delays had to be frustrating for you.
 
I'd walk away from the contract. The seller and the broker mis-represented the property to you so you are within your rights to cancel and get your deposit back.
 
Update - learned yesterday of closing on our BLT contract. Unfortunately, with an August UY, we lost 210 pts because we could not get access in time to bank by 8/1. :sad::sad::sad:
So sorry to hear about this. I am sure it was so frustrating waiting and hoping that you would have enough time to access those points. Like you said before, no one wants to waste points, but this was beyond your control.
We are also waiting to close on a contract that has banked points that will expire Nov 30th, so I really feel for you.
 

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