Banking pts from resale ?

[heather360]

Hi All, I recently agreed to purchase a resale BCV contract. It has a Dec UY with all the 2007 pts coming on Dec 2007. There are about 40 pts left from 2006. I'd like to make a reservation for Dec 8-16, 2007.

Do I need to have the seller bank the 2006 pts for my Dec vacation? I assume I'll close in mid June and I'll make reservations as soon as I'm in Disney's computers.

Thanks

 

[RobDoc]

Depending on the number of points in the contract, you may be able to bank them yourself after you own the contract since, even in June, you would still be within the 50% banking deadline. If that is not the case, then I would ask that the member go ahead and bank the points before closing.

 

[DISNEY FIX]

Hi All, I recently agreed to purchase a resale BCV contract. It has a Dec UY with all the 2007 pts coming on Dec 2007. There are about 40 pts left from 2006. I'd like to make a reservation for Dec 8-16, 2007.

Do I need to have the seller bank the 2006 pts for my Dec vacation? I assume I'll close in mid June and I'll make reservations as soon as I'm in Disney's computers.

Thanks

Yes, talk to your reseller and he should get the seller to do that. So you don't lose any.
Good luck
Chris

 

[keliblue]

We had the seller back the points before the documents were drawn . Otherwise they will have to redo them..

Enjoy...

 

[heather360]

Thanks for all of the responses. I just found out that I passed ROFR on Friday. I'll speak to my agent and see what I have to do. If it's going to be a problem then I guess losing 50% of 40pts is not too bad.

 

[CarolMN]

Thanks for all of the responses. I just found out that I passed ROFR on Friday. I'll speak to my agent and see what I have to do. If it's going to be a problem then I guess losing 50% of 40pts is not too bad.

Banking amounts are figured as a percentage of the contract's total. So unless you bought a contract for only 40 points, you aren't going to lose any of them before you close in mid-June. No need to have the seller bank - in fact if you do, it may delay closing. Believe someone (maybe DVC? not sure) has to certify the number of points before closing and if that's already done, it might delay closing to do it over again.

Anyway, if your contract is for 80 points or more, you will be able to bank all 40 of the 2006 use year points as long as you do it by the end of August, 2007. I assumed that the seller has not already banked any points.

Be sure to bank before you make the December reservation and make sure MS uses the banked points first.

Congrats on passing ROFR and welcome home!

 

[heather360]

CarolMN: Thanks so much. You just made my day.

I had been researching DVC for awhile and really thought I understood everything but I guess there's still more to learn.