Buying resale - What happens in this scenario?

[#1Disfann]

Hi! Newbie here so thanks for your patience. I hope this is the appropriate spot to ask this question. I am in the middle of a resale purchase that has a March UY. All 2025 points are available for use. I won't be using them until September of 2026, meaning I can reserve this October. I also believe it isn't enough to just have a reservation pending to be sure those points are safe. I think this means they are required to be banked by the end of October 2025.

My contract has just gone to Disney for ROFR so the process of waiting for that, then the closing and then having it sent back to Disney for recording isn't likely to happen until sometime in October (sooner if I'm lucky). Should I be inquiring about having the current owner go ahead and bank those points? Do I have until the end of October to bank or is it by October 1st?

Surely this happens and there is some sort of process that needs to take place when points are close to expiring but the new owner isn't yet "official" on Disney's end.

Thanks for any input!

 

[Sandisw]

You have until the end of October to bank, but I would definitely ask the seller to do that for you so you don't miss the banking deadline.

While DVC can certainly give you an exception to bank late, I have always had sellers bank if I knew it would be close, just so I didn't have to risk it!!!

Congratulations and good luck with ROFR!!

 

[#1Disfann]

You have until the end of October to bank, but I would definitely ask the seller to do that for you so you don't miss the banking deadline.

While DVC can certainly give you an exception to bank late, I have always had sellers bank if I knew it would be close, just so I didn't have to risk it!!!

Congratulations and good luck with ROFR!!

Thank you for the info and well wishes. I'm really excited and hoping all goes well. I will inquire with my broker in regards to having the sellers bank those 2025 points.

 

[VGCgroupie]

Congrats! I would ask if the seller will bank them now. If/when you buy in the future have them banked prior to contract to ensure it actually gets done. If not in the contract it’s merely a request if in the contract they have to.

 

[achinforsomebacon]

Congrats! I would ask if the seller will bank them now. If/when you buy in the future have them banked prior to contract to ensure it actually gets done. If not in the contract it’s merely a request if in the contract they have to.

While good for the buyer, I wonder if sellers would generally go for this. They could bank and then be stuck if the buyer backs out in the 10 day period. Not the end of the world since the points are still there but may deter someone else from buying if they want current UY points.

 

[VGCgroupie]

While good for the buyer, I wonder if sellers would generally go for this. They could bank and then be stuck if the buyer backs out in the 10 day period. Not the end of the world since the points are still there but may deter someone else from buying if they want current UY points.

There is really no downside for the seller banking. If anything it makes the contract more valuable, who wants to buy a contract with expiring points? Current UY points are not ones that will be nearing the banking deadline by contact closing imo. I have requested this on 4 different contract purchases and was never given any pushback from the broker or the seller.

 

[#1Disfann]

While good for the buyer, I wonder if sellers would generally go for this. They could bank and then be stuck if the buyer backs out in the 10 day period. Not the end of the world since the points are still there but may deter someone else from buying if they want current UY points.

Valid point. I am happy to wait until after the 10 day cancellation period has expired. I'm sure this is not the first deal that ever had a closing so close to the banking deadline and assume there is a process in place for this. I have reached out to the broker and am waiting to hear but wanted to see what thoughts others had in the meantime.

 

[VGCgroupie]

Valid point. I am happy to wait until after the 10 day cancellation period has expired. I'm sure this is not the first deal that ever had a closing so close to the banking deadline and assume there is a process in place for this. I have reached out to the broker and am waiting to hear but wanted to see what thoughts others had in the meantime.

There is no process in place for it, the seller and broker do not care. If you dont request it, it wont be done. If those points are not banked you will be SO stressed when the process takes long and each day you get closer and closer to the deadline. Unless of course you are fine with them not being banked.

 

[sndral]

You have until the end of October to bank, but I would definitely ask the seller to do that for you so you don't miss the banking deadline.

While DVC can certainly give you an exception to bank late, I have always had sellers bank if I knew it would be close, just so I didn't have to risk it!!!
…

It seems that with new contracts purchased directly from DVC they’ll routinely bank current use year points after the banking deadline, however, they are not usually willing to do so w/ resale contracts - at least when I bought my first resale contract many years ago they refused my request to do so, but it never hurts to ask.
OP has 90 days to get the contract closed & the points loaded, so it shouldn’t be an issue even if the seller chooses not to bank them as it looks like it’s currently taking around 60 days to get through ROFR & the points loaded https://www.disboards.com/threads/closing-time.3836891/page-396.

 

[VGCgroupie]

It seems that with new contracts purchased directly from DVC they’ll routinely bank current use year points after the banking deadline, however, they are not usually willing to do so w/ resale contracts - at least when I bought my first resale contract many years ago they refused my request to do so, but it never hurts to ask.
OP has 90 days to get the contract closed & the points loaded, so it shouldn’t be an issue even if the seller chooses not to bank them as it looks like it’s currently taking around 60 days to get through ROFR & the points loaded https://www.disboards.com/threads/closing-time.3836891/page-396.

Correct for resale you have to ask MS for a one time exception. It’s not guaranteed and I wouldn’t want to waste my one time exception when I can just ask the seller to bank.

 

[#1Disfann]

It seems that with new contracts purchased directly from DVC they’ll routinely bank current use year points after the banking deadline, however, they are not usually willing to do so w/ resale contracts - at least when I bought my first resale contract many years ago they refused my request to do so, but it never hurts to ask.
OP has 90 days to get the contract closed & the points loaded, so it shouldn’t be an issue even if the seller chooses not to bank them as it looks like it’s currently taking around 60 days to get through ROFR & the points loaded https://www.disboards.com/threads/closing-time.3836891/page-396.

Yes. I am hoping everything goes off without a hitch in the 60 day window give or take. I'm following the stats on those threads fairly closely. I have sent an email requesting that the seller bank so we will see what the reply is and what plays out.