Considering DVC Resale--Question re Pts & Booking

[lilpooh108]

Thanks for all the expert advice out there...I've read alot about DVC and we're so interested but have one question about resale that I just can't figure out the use year issue...

We are looking at a listing that says for 2010, the owner only has 11 points available for this year, but that in June 2011 160 points will be received.

If I would like to buy and after closing escrow, make a reservation for December 2010, will I be able to call and use the 11 points for 2010 and borrow from 2011's points?

I understand that points just have to be "vested" or received prior to the hotel stay and that an owner can call and make reservations before the points come into the account. I just don't understand whether you can reserve in a month before your use year month, and borrow against next year's use year both.

How many borrows do you get per account or lifetime? That I can't figure out. If I buy this resale, I will always be "behind" one year unless I skip a vacation.

So many issues, but we're very close to making a decision (one which we know we'll make anyway!!!)

TIA!

 

[Chuck S]

With a June use year, yes, you could use the remaining 11 2010 points and borrow any needed 2011 points for a December 2010, vacation. There is no limit on borrowing, other than you can only borrow 1 year ahead of the current use year. DVC can suspend banking/borrowing, but it has never done so. I would expect that as the end of the contracts gets close, then they may suspend banking/borrowing.

 

[cvjw]

Can you find a resale that is current on it's points? I wouldn't buy a contract without the current year points and constantly be behind! There seems to be so many contracts these days with '08, '09, '10 and '11 points included.

 

[Deb & Bill]

Thanks for all the expert advice out there...I've read alot about DVC and we're so interested but have one question about resale that I just can't figure out the use year issue...

We are looking at a listing that says for 2010, the owner only has 11 points available for this year, but that in June 2011 160 points will be received.

If I would like to buy and after closing escrow, make a reservation for December 2010, will I be able to call and use the 11 points for 2010 and borrow from 2011's points?
...

It will take you at least two months from finding a contract until closing. By that time, it may be difficult to get anything for December. It's a pretty popular month for DVC Members. Especially the first two weeks of Dec. And Christmas isn't that easy to get, either.

Make sure you buy where you won't mind staying if you can't change your reservation at 7 months out. Many times you want to make that reservation at least 10-11 months ahead of time at your home resort.

Good luck in you decision.