Time window for banking??

Discussion in 'Purchasing DVC' started by cswans, Mar 18, 2002.

  1. cswans

    cswans Earning My Ears

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    If we buy a Dec use year resale, is it too late to bank the available 2002 points already? Ie, does 9 months fall March 1 or March 31 or some other date? Any help appreciated greatly! Thanks.:confused:
     
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  3. PamOKW

    PamOKW <font color=green>The two most important items for

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    The banking deadlines for a December Use Year are 100% by May 31....50% by August 31.....25% by September 30. You can't bank between October 1 and November 30.
     
  4. CarolMN

    CarolMN DVC Co-Moderator Moderator

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    Just to add a little to what PamOKW has already said:

    The 2002 points would be those added to the account on 12/1/2002. You would have until May 31, 2003 to bank 100% of them into the 2003 use year.

    If you were talking about the points that went into the account on 12/1/2001 (These would be the 2001 use year points), you would have until May 31, 2002 to bank 100% of those points into the 2002 use year.

    If you do not bank or borrow, the 2001 points are good for stays between 12/1/2001 and 11/30/2002.

    If you do not bank or borrow, the 2002 points are good for stays between 12/1/2002 and 11/30/2003.
     
  5. cswans

    cswans Earning My Ears

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    PamOKW and CarolMN,
    Thanks so much for the clear information! Sounds like it's 6months then instead of 9mos. That's great news. I am shopping and researching for/with my sister (who is a Twin City neighbor CarolMN!) and it's getting very exciting as she figures out exactly what will work for her. I fell in love with OKW on my last trip and am very glad that's where she wants to buy.
     
  6. DebbieB

    DebbieB DIS Veteran

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    One thing to keep in mind - you can't bank until your contract closes. So you have to leave enough time for the paperwork to go through.
     
  7. ripleysmom

    ripleysmom Lucas and Ripley's mom!

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    You might want to have the present owner bank those points for you if you think you won't have enough time till you close.
     
  8. cswans

    cswans Earning My Ears

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    Thanks debbieB, ripleysmom--good things for me to keep in mind. :p
     

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