Why the wait until June to close - BCV?

Discussion in 'Purchasing DVC' started by chip1, Feb 19, 2002.

  1. chip1

    chip1 Proud Owner of 400 BCV Points!!

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    My husband and I were the first buyers of BCV on 2/3 (our rep called here that morning, with my prior permission at 6:30 a.m.). We have paid in full, and have signed and returned the necessary papers. Our question is this. Why do we have to wait until June to be closed? We questioned Members Services yesterday, and they were not quite sure. We left a message for our rep, who is off on Mondays, to call and explain. We are planning a 12/02 trip, and are short points. We are not able to borrow the points we need from our 2003 use year until we are closed. We understand we are able to make a cash purchase of the additional night we need and transfer it to points in June. Anyway, we are just confused as to why, when we are paid in full, we must wait so long. Any insight would be helpful.
     
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  3. DebbieB

    DebbieB DIS Veteran

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    My guess is that they will not have an occupancy permit until June. Florida has strict laws on timeshares to prevent people from getting stuck with something that is not complete.
     
  4. Terry S

    Terry S <a href="http://www.wdwinfo.com/dis-sponsor/index.

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    I am not sure on this one, but it might have something to do with the fact that the resort is not finished being built. I don't beleive you can close until it is "finished being built". This doesn't mean it has to be completly furnished or anything, just built.
     
  5. chip1

    chip1 Proud Owner of 400 BCV Points!!

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    Thanks. Hopefully our rep will call today and explain. I will let you know.
     
  6. PamOKW

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

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    I agree with the other posters. They can't legally sell you something until it is complete. Just like buying a house.
     
  7. Barb

    Barb A DIS Original!

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    If that's the case, then how can a buyer into BCV call on March 6 and get a reservation? If we are buying into BCV, but can't use our points until June, that means we can't call and use those points until we close in June. Chip1 mentioned a cash purchase and then a transfer, how does that work? Do you get your money back when they use your points?
     
  8. chip1

    chip1 Proud Owner of 400 BCV Points!!

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    We purchased 210 points on 2/3. On March 6 we are able to book a 12/02 trip using the 210 points. However, we are 14 short for our trip, and wanted to borrow from our 2003 use year. We are unable to borrow until June when we are "closed." This is what we are unhappy about.
     
  9. PamOKW

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

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    They are going to allow you to start making reservations in March. I'm not sure what they are using for the date you can start taking a trip with BCV points. I think it is August but I'm sure someone here knows that for sure. The point is, you can't use your points until points can also be used at BCV.

    The reason they are offering the free stay/$5 incentive is because of this situation. You are paying for something in advance of when you will be able to use it. The free trip could be used during this gap period.
     
  10. chip1

    chip1 Proud Owner of 400 BCV Points!!

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    Our rep called last night. She explained the reason we are not closing until June is because they will not be available for use. She also mentioned, that we are not paying dues before June 1st. I understand a little better now.
     
  11. IslandHap

    IslandHap Mouseketeer

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    It is my opinion (and my guides) that none of the BCV will close before June 3rd, as June 1st is a Saturday. The deed will also be recorded (I assume) on a first bought, first served bassis. It may take a few days to clear the backlog of presales.
     
  12. Windjammer

    Windjammer Mouseketeer

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    Chip:

    If Disney has the discretion to let you make a reservation on March 6, 2001 with points you don't own yet, then they may have the discretion to let you make a reservation with borrowed points you don't own yet. After all, you are not going to use the points until after you close.

    Have they explained the difference?
     

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