Can you sell your contract & keep an upcoming II ressie?

[Northwoods]

Wondering what happens if you have done an II exchange and have a ressie for the future and then sell your DVC contract before the ressie date.

Do you still own that II ressie?

Is it a problem if you are no longer a DVC owner when you use the II exchange?

Will this cause problems?

 

[dianeschlicht]

Have the points for the ressie already been deducted from you current year's points? I would think in that case they are no longer under DVC's control so not a problem. If they are borrowed points, that could be a differnt case. Not sure, but I would certainly call someone to find out. It makes sense to me that the II exchange would go ahead without problem. I do know that any DVC reservation will be cancelled at teh time of sale.

 

[T.E. Yeary]

Good answer Diane! The critical point here as you pointed out is about the points already being removed from the account. If YES, then NO problem!!

Tom

 

[Northwoods]

Thanks.

I was just contemplating booking an II exchange before selling our contract.

 

[pat@dvcstore]

Wondering what happens if you have done an II exchange and have a ressie for the future and then sell your DVC contract before the ressie date.

Do you still own that II ressie?

Is it a problem if you are no longer a DVC owner when you use the II exchange?

Will this cause problems?

The Timeshare Store was advised (a few years ago) that ALL reservations cancel when a contract is sold and closed. We had that unfortunate situation arise because we were never notified of that rule. Luckily, we were able to hold up closing to prevent a potential disaster.

Even though the points have been deducted, DVC has made the II reservation for you and it cannot be taken. We never have understood the reasoning behind that, but that is the rule.

The way to avoid the situation is to simply postpone closing until you've completed your trip. If your buyer isn't planning a trip right away, that shouldn't present a problem.

Hope this helps.

Pat

 

[T.E. Yeary]

Well now, don't I look like the fool! Thank goodness my agents are the ones actually dealing with the buyers and sellers! You would have been in all kinds of trouble because of me!!!

I have to go by what Pat says as she's a former Disney Guide.
Believe me, she knows her DVC! I should have asked her before I opened my big mouth!!!


Sorry Diane, it sounded logical to me too!!

Tom

 

[CarolMN]

Well now, don't I look like the fool! Thank goodness my agents are the ones actually dealing with the buyers and sellers! You would have been in all kinds of trouble because of me!!!

I have to go by what Pat says as she's a former Disney Guide.
Believe me, she knows her DVC! I should have asked her before I opened my big mouth!!!


Sorry Diane, it sounded logical to me too!!

Tom

Sounded right to me, too. Glad Pat was lurking near by and able to set us straight.

That said, I kind of wonder how DVC makes the II cancellation happen - seems like it might be quite a pain! Since the destination week was reserved and the points already deducted from the member's account, wouldn't DVC have already used the points to deposit a week into the II system? Since the DVC resort weeks tend to go quickly, DVC can't be assured of getting the time back (even if II would let them renig). So they must pony up some developer points or Disney owned points or do some "bookkeeping/paper adjustments" so that they can put points back into the account being sold. Wonder if all that "hassle" ever influences the RFOR decision - Disney probably doesn't have to worry if it is "reimbrsing" itself, LOL.

And what happens with II in those cases? Even though the reservation was cancelled, Disney/DVC must have some type of "raincheck/rescheduling ability " in lieu of the cancelled reservation, right? Do they just let it go?

Best wishes-

 

[dianeschlicht]

That was my thought process too, Carol! It seems to me that once the trade is made into II, it is no longer in control of DVC, but comes under II's control. If someone had already exchanged into DVC by the time the contract sold, but the previous owner had not yet taken the II trip, then it occurs to me that someone had an excess, and it would be II, not DVC.

 

[ClarabelleCow]

Hey Pat - nice to see you lurking on these boards, if it wasn't for this board, I would have never called you and bought our points at VWL!!!!

 

[Dean]

I asked this question of DVC not that long ago. While asking someone over the phone one time does not constitute gospel, the person did seem knowledgeable and it's all I have. Unfortunately I was asking from the other direction, that of whether the buyer got the week.

The answer I was given was if the contract specified the buyer got the week, they did, if not, it evaporated. An II reservation is much different than a DVC one. As pointed out above, once used, the points are gone either way. Given the way II and the exchange system works, I would be very surprised if the seller was denied the exchange week assuming the deal had been completed with II previously. But I'd really hate to chance it in the situation.

But I can tell you for certain that the "cancel all reservations" policy is not directly related to II exchanges that are already confirmed and paid for with points. One could even get a guest certificate for another party if they wanted and the exchange would be committed, even if the contract were sold before the exchange week arrived.