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Question about banked points in regards to a resale contract I have pending!

Discussion in 'Purchasing DVC' started by NHTikiBeckie, Feb 18, 2013.

  1. NHTikiBeckie

    NHTikiBeckie DIS Veteran

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    Hi everyone!

    I finally found an AKV resale contract with 100 points that accepted my offer! It has been over a year I have been searching and offering, so I am excited! :yay: I always appreciate all the help and advice you all have given me on this board.

    I am having a little trouble understanding the banked points on my pending contract. The contract has a December use year. Here is what it says:

    "Buyer to receive 74 banked points from the 2011 allocation which need to be used by 12/1/2013, 100 points from the 2012 allocation, 100 points from the 2013 allocation and all points going forward".

    This means if I cannot use the 100 points from 2012 this year that I need to bank them so I could have them for use until 12/2014, right? So technically if I borrowed the 2013 points I could have 275 points to use by 12/1/2013, right? I think when I first made the offer I thought the banked points were from 2012, not 2011. I didn't realize I had as many to use as I do.
     
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  3. DebbieB

    DebbieB DIS Veteran

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    2011: 12/1/11 to 11/30/12 - bank 11/30/13
    2012: 12/1/12 to 11/30/13 - or bank 11/30/14
    2013: 12/1/13 to 11/30/14 - or borrow 12/1/12 to 11/30/13.
     
  4. Kidanifan08

    Kidanifan08 DIS Veteran

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    Oh man...you got that one yesterday? I called on it at 1PM and you beat me to it! Congrats and good luck with ROFR.

    We have a Dec UY and it can be confusing. We are currently in our 2012 UY. So, you have 174 points to use from 12/1/12 to 11/30/13. You could bank the 100 2012 points by 7/31/13, but the 74 must be used by 11/30/13. If you need more than 174 for this travel in this UY, you can borrow up to 100 points from your 2013 UY, which starts on 12/1/13.

    Again, good luck and enjoy!
     
  5. CarolMN

    CarolMN DVC Co-Moderator Moderator

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    To clarify -

    The 2011 points that were already banked must be used by 11/30/2013. If not, they expire.

    The 2012 use year points (which are the current use year points) must be also be used by 11/30/2013 unless you bank them. If you bank them (deadline is July 31, 2013), then they do not expire until 11/30/2014. You may borrow these points for a stay that ends on or before 11/30/2013.
     
  6. NHTikiBeckie

    NHTikiBeckie DIS Veteran

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    Thank you all, that is what I thought!

    Yes, I got the email and I called immediately! I have been emailing all along the same day they come out and am always told sale pending, so I called around 11:30! I am sorry, I hope a duplicate comes around ASAP!
     
  7. Minnies Dad

    Minnies Dad Earning My Ears

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    Congrats, I was looking at this one as well.
     
  8. puffkin

    puffkin DVC Owner- SSR & AKV

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    I saw that one too and was wondering if you saw it. Just curious, but did you offer asking?
     
  9. NHTikiBeckie

    NHTikiBeckie DIS Veteran

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    I did per point, I keep seeing contracts for $70 and offering 65 and getting denied, so I was happy to see this one.
     
  10. puffkin

    puffkin DVC Owner- SSR & AKV

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    I would have done the same. I think the asking price was a good price for that many points to begin with!
     
  11. Kidanifan08

    Kidanifan08 DIS Veteran

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    That contract was as close as it gets to loaded and was certain to sell on the day of listing. When I called about it at 1PM, I think he said I was the 4th person making an inquiry on that one. Frankly, I am surprised the broker did not coach the seller into starting around $70, or a little higher. I would have paid that! Again, congrats. You should not have any problem getting through ROFR at that price.
     

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