Available point change on for-sale listing

[LynJ]

While we were in ROFR, I had a contract that I was watching as a backup, in case Disney took our contract.

Out of curiosity, I glanced at the broker's website today, and I noticed the listing had been changed.

Although the listing number, price per point, etc, was all the same, the points availability changed. It originally had all 2016 and 2017 points. Now the listing has 0 points for 2016 and about 3/4 of the 2017 points. Its a Dec UY, so the 2016 points haven't been awarded yet.

I was pretty surprised to see a seller change their offered product midstream ( other than maybe to lower the price). Does this happen often? Is it something to watch for in the future if I add on resale? I wouldn't want to make an offer and then be surprised to find out that the number of points changed.

 

[_auroraborealis_]

It may be that if sale was taking long enough, they decided to book a trip or rent sufficient points to pay the dues, if the sale was based on hardship.

 

[CarolMN]

AFAIK, it's not at all a common occurrence, but if the seller didn't have a signed contract and decided to use some of the points, it's a very good thing to update the listing.

I would make any offer contingent on the points offered in the listing actually being available when the seller signs the contract. And based on another thread here, I'd insist on a penalty if any of the points "disappear" before you get into the system. I would also personally value banked points at a much lower amount if it is within 6 months of the end of the use year at the time I make my offer.

 

[CMNJ]

While we were in ROFR, I had a contract that I was watching as a backup, in case Disney took our contract.

Out of curiosity, I glanced at the broker's website today, and I noticed the listing had been changed.

Although the listing number, price per point, etc, was all the same, the points availability changed. It originally had all 2016 and 2017 points. Now the listing has 0 points for 2016 and about 3/4 of the 2017 points. Its a Dec UY, so the 2016 points haven't been awarded yet.

I was pretty surprised to see a seller change their offered product midstream ( other than maybe to lower the price). Does this happen often? Is it something to watch for in the future if I add on resale? I wouldn't want to make an offer and then be surprised to find out that the number of points changed.

I've noticed it happen on occasion (not frequently) with contracts that have been on the market for a while. My guess is like a previous poster said that the decided to use or rent/transfer the points out since it wasn't selling quickly. If they decide to do that they should be updating the listing with the broker to reflect the new point status.

 

[zavandor]

Banked and current points aren't valued for their full potential on the market. A fully loaded contract doesn't sell for $40+ more than a stripped one. So from the seller point of view if the broker succeeds to rent the points before the sale, it would make absolutely sense to strip the contract and lower the price a bit.

 

[LynJ]

Banked and current points aren't valued for their full potential on the market. A fully loaded contract doesn't sell for $40+ more than a stripped one. So from the seller point of view if the broker succeeds to rent the points before the sale, it would make absolutely sense to strip the contract and lower the price a bit.

The interesting thing was, they didn't lower the price. Stripped the points out and left the price the same.

 

[CMNJ]

The interesting thing was, they didn't lower the price. Stripped the points out and left the price the same.

I saw something similar happen with 2 BLT contracts earlier this year (appeared to be from the same seller). Were listed high and weren't moving but instead of lowering price they were later updated to show no longer having any 2016 points and one was partially stripped of 2017 points as well with a "can't close until xx date). Honestly I think they may still be listed for sale now.

 

[squirrel4569]

A contract that I was looking at for BLT was listed at $116/pt with 40 banked points for the year + 160 in 2017. I made a lower offer, they said they were firm so I moved on to another contract. I saw this contract later posted for $117/pt with the same banked points. I made another offer to them and they would've accepted $114/pt, but that was still higher than what I wanted to pay. I see it's still listed (it's been up since June) and they've now dropped the price to $115/pt.