Closing Date - and - are we crazy? - a bit long -- sorry

[ohioMickey]

Our contract listed May 3, 2001 as our closing date. How likely is it that we will actually close on this date? Is this just an estimate or will it really happen? (assuming all our paperwork is in order)

Here is the situation:

My wife and I sent our contracts in 10 days ago. After looking at our finances and vacation habits and considering how fast VWL is selling (We LOVE Wilderness Lodge) and with the price increase coming, we want to add-on already. Told you we might be crazy.

We also have a cash trip to the Polynesian coming up starting May 11. I wanted to convert some of the cash nights to point nights. We have 5 people going and VWL 2 br are all booked solid during our trip dates. So I thought we would convert a few Poly cash nights to Poly with points. That way we can free up the cash and use it for the down payment of our add-on which we want to do while we are at Disney.

To do this i will need to borrow some points from next use year. This is because i banked all of this years points to use in December 2001 for a trip we have planned for 9 nights in a 2 br villa (they let me bank the points and use them for a ressie even though we havent closed yet!)

will they let me borrow before we close? proabably not. (i am assuming the banking transaction before closing was a courtesy thing and i may be pushing my luck to expect to also be allowed to borrow before we close).

i understand from the handbooks, the latest you can book a disney collection trip on points is 48 hours before arrival. So we must close by May 9 to make that happen. Also, my May reservations at Poly have a 7 day cancellation policy. So essentially i HAVE to close by May 5 to make this happen. Unless they let me borrow before we close. And if closing drags on past May 11, then i am sure i cant USE the points for a vacation BEFORE closing, right?

Also...Disney collection is "based on availability." Will they even let me convert cash nights to point nights?

maybe there is no way to do this. I am not sure now. Maybe we will have to pay for the cash trip AND the down payment and just enjoy the extra points another time.

Any comments are appreciated. I just LOVE the info from all of you.

btw...we initially bought 400 points and we want to buy 200 more to make 600. That way we can get a 2 BR for 7 nights twice yearly or a 1 BR for a 12 night stay one time and a 7 night stay another trip.

We decided on 400 because we thought we could do this same schedule using a studio some of the time. We have 2 kids who are 4 and 6 now, but as they get older i think a studio will get cramped. Also, 600 points will give us more flexibility with exchanges in the future. We have been blessed to be able to afford this many points financially. But sometimes i do think maybe this is overkill. anyone else out there with that many points?

thanks in advance for answers and for putting up with my babbling!

Off Site 05/90
Dixie Landings 05/00
Wilderness Lodge 09/00
Polynesian 05/01
VWL 12/01 -- First trip with DVC points!!

 

[Cyndy]

Welcome. Let us know if you get it all worked out...and yes, you are blessed to afford all those points....your kids will thank you many times I'm sure. I wish I had answers but we have 200 points and although we often joke about being in a "perpetual state of BORROW" we have had several very nice stays in 2Br's and studios and this June our group of 14 will be in a combination of both. Whatever your total points, I'm convinced that DVC gives you and yours a wonderful vacation for very little expense. Enjoy!

 

[Mousefanz]

Congratulations on your purchase!!

Just a comment on the closing - we bought while on vacation in March and were given a closing date of 4.26/01. Well, found out that we closed this past Monday, 4/9!! I'd read about others who also closed earlier than they were told so, keep your fingers crossed..
As for the points stuff, I'm still too new at this to comment intelligently.

Good Luck.

S and D
DVC 2001

 

[spiceycat]

I also close early on VWL. I have 450 points but my points are at different places - 240 OKW, 100 VB, 50 BWV and 60 VWL. I bank and borrow to do what I want, when I want - I have had trouble waiting the 7 month window (and have been disappointed). Are you sure you want all your points in one place? - you could get a resale a little cheaper.

 

[Lesley]

I think if you talk to your guide s/he may be able to work something out for your May trip...

I kind of agree with the above poster, though. Why not look into adding the extra 200 points at OKW or BWV via resale? They both have some positives as far as having the 11 months booking window....and you do sound like someone who would like a GV at some point!

Honestly if I were to have 600 points I think I'd want 200 at each WDW DVC resort!


Lesley


1979 Contemporary
1992 Off-site
1994 Carribean Beach
1999 Fort Wilderness and Coronado Springs
2000 Polynesian and Old Key West
2002 Boardwalk Villas

 

[mkkim]

We are also scheduled for a May 3rd close date on a VWL purchase! I am heading down for a two day visit on May 9th to check out the Villas there. My parents are on a business trip staying at the Coronado Springs so I thought it was a perfect opportunity to take a tour! Anyway... we have already thought about adding on another 50 pts before the increase! I thought we were crazy too! But....it seems that we will probably be taking advantage of buying now before June... so I'll probably be coming home with more points at the VWL. Who knows how fast they will sell out and how much the points will cost in the future. Have fun and good luck on the closing date!