Can I check if points are banked??

[3girlsfun]

I am about to fax my contract back tomorrow so it can be sent to ROFR. I asked the agent to make sure the points for 2010 are banked. She said that would be no problem, she would contact the seller. So, the next day (Friday), I contacted the agent back to see what the result of her contacting the seller was.

She first acted like she had no clue what I was talking about, then said, that, "oh yes, they are banked, I mean, they should be (pause), you can check on your contract and make sure that is what it says."

Then she pulled my contract and says, yes, yes, they should be banked.

Now, I am nervous about this. Is there anyway I can check and see if the points are actually banked or not?

 

[drusba]

You have no way of checking except by going through broker or seller.

 

[Kidanifan08]

I assume that the banking window must be before you think you will close on the contract. You should see if the broker can make it a contingency in the contract. That way, if the points are not banked, as you desire, you may be able to cancel the contract and get your deposit back. You should specify that you would need proof of the points being banked.

Good luck! Welcome home!!

 

[3girlsfun]

Ok, that is what I was thinking. I just looked back through the contract, and it shows the available points for 2010, but, doesn't show that they are banked.

I will ask for the proof tomorrow before faxing the contract back.

 

[Sandisw]

Ok, that is what I was thinking. I just looked back through the contract, and it shows the available points for 2010, but, doesn't show that they are banked.

I will ask for the proof tomorrow before faxing the contract back.

Yes, the paperwork has to show them exactly the way they are or Disney will kick it back from ROFR. This happened to me when selling. I didn't list the 9 banked points as banked when I should have. Disney sent it back and we had to do an addendum.

If you want them banked, then make sure your paperwork indicates that they are banked.

Good luck!

 

[DisDad07]

We saw on our signed contract that we signed, the 2010 points were banked and that they transfer to the buyer along with the 2011 points. if this wasn't listed in the contact, i would bring it up to your broker.

 

[dbs1228]

We are selling a contract that has an Aug UY and had 98 2010 points that were not banked. The contract sold while we were on vacation so I did not give it a thought until we got home and called the agent to ask if I should bank the points (not sure the seller knew how the system worked and I would hate to see any points go to waste!) Well sure enough the seller wanted them banked and since it was already in ROFR we both had to sign an addendum. Make sure it is done and the paper work is correct, good luck!

 

[3girlsfun]

I checked the contract, it says that the 132 points are there. It doesn't specifically say they are banked. If I am understanding correctly, they should specifically say, banked 132 points? I am buying through Fidelity, if that makes a difference?

 

[Sandisw]

I checked the contract, it says that the 132 points are there. It doesn't specifically say they are banked. If I am understanding correctly, they should specifically say, banked 132 points? I am buying through Fidelity, if that makes a difference?

Yes, the paperwork should say specifically what points you are getting. So, if they are 2010 points and you want them banked in to 2011, they should be listed as 2011 UY points, but with a notation that says they are banked.

If the contract shows them as 2010 UY points, then that is what you have. I would ask Fidelty to send you an updated contract that specifically lists them as banked.

Good luck!

 

[JimMIA]

I checked the contract, it says that the 132 points are there. It doesn't specifically say they are banked. If I am understanding correctly, they should specifically say, banked 132 points? I am buying through Fidelity, if that makes a difference?

You're leaving out the most important factor. What is your Use Year???

Depending on your UY, banking may be a non-issue.

 

[3girlsfun]

Yes, I am complaining. If you don't want to hear me complain, then read no further.

I have had terrible communication while trying to make my resale purchase. I do get it, to an extent. I know they are busy, but, if I am forking over thousands of dollars, then I expect some communication.

I have been trying to find out for three days if points for 2010 have been banked or not. I finally very sternly explained that I wanted proof, and if it couldn't be produced, then I would not be making the purchase. I received an email within 20 kind telling me the point verification sheet has been ordered from Disney. Finally!

I have also now faxed my contract three times, I have gotten the successful transaction sheet everytime. They have yet to receive the fax successfully, and the numbers have been triple checked.

The communication has really just been terrible. The way I see it, you knew you were going to be super busy, so, having a plan to deal with the number of contracts coming through should have been in place prior to now.

I keep getting apologies, that is great, but at what point do you decide that it is just a bad deal?

 

[heynowirv]

- I have a couple of questions for you. Who are you buying from ? Have you been able to talk to an agent directly? If not then you need to call and speak to one NOW!!!
_ Any contract you make an offer on and has been accepted by will arrive with exactly what your buying.

Good Luck!!

 

[JimMIA]

I asked this question on your other thread on the same subject -- WHAT IS YOUR USE YEAR?

The UY on the contract you are buying may tell us you have no problem at all, or it may tell us the points can't be banked. If you can post that simple fact, we can give you much more assistance.

(The communications problems you have had have really been awful...inexcusable, IMHO.)

 

[JimMIA]

I have also now faxed my contract three times, I have gotten the successful transaction sheet everytime. They have yet to receive the fax successfully, and the numbers have been triple checked.

Just scan the contract and send it to them as an email attachment.

 

[3girlsfun]

I have spoken with two agents...keep getting the run around. I'm trying to be patient. I just don't feel comfortable anymore. I hate not feeling comfortable.

 

[3girlsfun]

Use year is September.

 

[mtquinn]

Who, may I ask, are you using? If it were me, I would be looking at other resale companies to see what options you have. If you have those options, bail now and move on to a company that can handle the workload.

 

[JimMIA]

Use year is September.

Okay...if the points are 2010 points, you have until April 30, 2011 to bank them.

I would think you should close in plenty of time to bank them yourself, but if your closing date is after April 20, you should insist on the owner banking them for you.

IF the owner banks them, they will receive an email confirmation of the banking transaction from DVC which they can forward to you.

 

[JimMIA]

Who, may I ask, are you using? If it were me, I would be looking at other resale companies to see what options you have. If you have those options, bail now and move on to a company that can handle the workload.

She posted on the other thread that she was using Fidelity.

 

[heynowirv]

Hard to keep up JIM when she's using 2 threads for the same issue. It sounds unusual to me i've been dealing with Sharon over at Fidelity and our transaction as been smooth as silk.