Closing questions...

[lenshanem]

Once you get preapproved and then go down and tour, come home, discuss, decide to go for it - how long to you close?

I'm confused about use year and MB...

If December is the current use year they are giving out right now and you use the MB option, does that mean we just wouldn't have points to use until this coming December? (In other words we sell them back this year's points?) But, we'll still be paying monthly prorated dues starting at closing? Is this correct?

I was reading another thread about use years and I got so confused. I thought I understood it, but maybe not!

Our oldest will be starting Kindergarten next Fall so the school calendar will play a big role for us for quite some time. We'll probably go April spring break to WDW, maybe summer at VB and a few days in the holiday season back at WDW, depending on her school vacation, maybe even right after New Years. Any thoughts on this? (BCV would be our home I'm assuming unless something changes.)
Don't quite get the banked points. If we had a trip planned in December, had to cancel it last second, we would lose those points? We couldn't transfer them into next year's points?
Or isn't there a reserve where those points are just tied up and have restrictions on them?

And... (Sorry! ) if we close after the eleven month window for our resort is there still a possibility we'll be able to get it for next spring break, or no? Is this a hard time to get ressies with DVC? Will this time of year be a problem each year?

Thanks!

 

[Chuck S]

I can't help with ALL your questions, but...

If Disney has taken your current Dec year points for Magical Beginnings, you should get a fresh allotment Dec 1, 2003. If you make a ressie for Dec 2003 and cancel prior to 31 days before arrival, your points return to normal status in their use year (unless they are borrowed points). If you cancel your ressie 31 days to (is it 24 or 48 hours?) before arrival, your points go into a holding status. They must be used for a ressie booked no more than 60 days prior to check-out. They can not be banked. If you do not cancel your ressie, all the points of that ressie are considered used on the first day of the ressie.

 

[disneyberry]

Originally posted by lenshanem
Once you get preapproved and then go down and tour, come home, discuss, decide to go for it - how long to you close?

don't know about this one as i didn't buy from Disney direct.

If December is the current use year they are giving out right now and you use the MB option, does that mean we just wouldn't have points to use until this coming December? (In other words we sell them back this year's points?)

yes, you sell back your Dec 2002 allotment.

But, we'll still be paying monthly prorated dues starting at closing? Is this correct?

yes, you pay prorated dues calculated from the date you officially sign the purchase contract.

We'll probably go April spring break to WDW, maybe summer at VB and a few days in the holiday season back at WDW, depending on her school vacation, maybe even right after New Years. Any thoughts on this?

you mentioned 3 separate times of travel. again, there is no perfect UY for all 3 time periods. which 2 time periods are the bigger certainty?
for Xmas, New Years, and Apr trips, a Dec UY is best. bank 100% through end of May, so that means this option could cover early summer (Jun) trips as well. Jul and Aug trips would have 50% banking coverage.
for Apr and summer trips, an Apr UY is best. bank 100% through end of Sep. you'd only have 50% coverage for Xmas and New Years' trips.
these 2 (Dec or Apr) seem to be the best options.
again, don't worry about Use Year unless you know your family tends to need to cancel trips last minute.

If we had a trip planned in December, had to cancel it last second, we would lose those points? We couldn't transfer them into next year's points?

this all depends on which Use Year you end up buying. like Chuck said, super last minute cancellations would cause you to have holding account points. only if you can cancel outside of 31days before check-in, then you might have a chance to bank some or all of your points, depending on your Use Year.

i don't know about your April avail question... i'm just a new member myself, but i bet lots of people will just answer: "you never know unless you try!"

hope this info helps.