Resale Question

[wayno]

I just got my paperwork for a resale purchase at BWV, and I have a few question for those with some experience here. We're buying from the Timeshare store, with an October Use Year. The contract includes banked points from 2000 which need to be used by October, but it also includes all of the 2001 point allocation. I understand I have until March 31st to bank 100% of these 2001 points to next year.

The question is, if we send these papers back this week for a closing date of Monday I guess, when will I be able to bank those points? And when would I be able to try to make a reservation to use up those 2000 points before October? The paperwork from Timeshare Closing Services, Inc. states that we should receive a Deed and Title Policy in 4-6 weeks after closing. Do I need to wait that long to make the calls to MS? Or can I do that on Tuesday, after closing?

Thanks for your help on this, as I am really looking forward to enjoying my 40 years of upcoming vacation magic.

Thanks,
Wayne

 

[mickeyc]

I also purchased a resale via the timeshare store. Unless the process has changed you will not be able to make a ressie until after the closing date. It maybe one or two days later. Disney must enter the transaction into the system before they will allow ressies. You can use the expedited service which I think is an additional $ 45; howeve, the regular service is usually within 4 weeks. Good luck and Enjoy! You made a good move! Welcome Home!

 

[WebmasterDoc]

If you are certain you want to bank the 2001 points, I'd suggest having the seller bank them for you. Until the closing is complete and the deed recorded with the county and the records are transferred to Disney, you won't be in the DVC computer and will be unable to bank points or make reservations. Since it sounds as though you are just getting strated with the process, there is a chance that all of this might not get completed before March 31.

Have your realtor make the arragements with the seller and you should be fine.

Good luck with the process, they do make it as simple as possible.

 

[Laurabearz]

Originally posted by wayno
The paperwork from Timeshare Closing Services, Inc. states that we should receive a Deed and Title Policy in 4-6 weeks after closing. Do I need to wait that long to make the calls to MS? Or can I do that on Tuesday, after closing?
Thanks,
Wayne

This is the part I am confussed about too.... I am dealing with atimeshare.com and my broker said she would contact me a day after closing to help me set up my Disney ID #...... I am guessing I have to wait to make ressies until I get my memebership number..... RIGHT????

 

[Laurabearz]

I just got this from my broker.....

. As soon as we close, I will give you info on how to call Disney to get your ID via phone rather than via mail, which is usually 3 weeks later.

So does that mean I can book once I have my ID????

I am sooo confused! I also think I need to call the broker instead of emailing back and forth! LOL

 

[CRobin]

Laura, you can book once DVC has you registered in their computer (and at that point assigns you a member ID).

My recollection is that on a resale, once the closing is recorded by the county, the documents are sent to Disney and your broker is notified. You will also get a copy of the deed in the mail.

It does sometimes require a couple of days for Disney to get the info into their computer; I believe somewhere I read they only put new data in on Wednesdays but don't know if that's true.

Once you hear from your broker that your deed is recorded, you can give MS a call and get the status. You don't have to wait for your cards, they don't arrive for weeks.

 

[nisiemouse]

Laurabearz: We are also using atimeshare.com and I am also curious to know how quick I can make reservations. Please let me know if you get a more concrete answer. Thanks.

 

[Laurabearz]

Originally posted by CRobin
Laura, you can book once DVC has you registered in their computer (and at that point assigns you a member ID).

Once you hear from your broker that your deed is recorded, you can give MS a call and get the status. You don't have to wait for your cards, they don't arrive for weeks.

Thanks for the info!!! I am getting way to excited!!!