Contract with existing reservation ?

[MomtoBJSF]

Hi everyone

My DH and I have been looking to add to our points, we found a AKV contract that was fully loaded with with 2013,2014, and so on, we went ahead put an offer on it, agent called us back the next day, told us they accepted our offer, the only issue is that the seller has an existing reservation and cannot close until after, but they can still go ahead and send all information and paper work in for PROF , but they would not be able to close until after the seller's trip, is that True ? .

Wile I was a bit annoyed, as the listing did not mention the existing reservation or the " Cannot close until after", the contract is till pretty good, at a great price. But we just want to make sure.

 

[erionm]

but they would not be able to close until after the seller's trip, is that True ? .

That's correct. If closing was to happen prior to the reservation, the reservation would be cancelled.

 

[Carlnne]

Im not sure I would wait if the reservation is not soon. Bad enough you have to wait through all the steps but to add in waiting for someone elses vacation- forget it. I also think it is fishy that detail was not listed up front.

 

[sndral]

Timeshare store has listings with cannot close before dates which they note in the add, it's not uncommon, but how much time are we talking about? Why didn't the agent mention this detail when you made your offer? You say the contract is loaded with 2013 & 2014 points, but unless they are using banked 2012 points for this vacation, they must be using 2013 points which means you won't get all of the 2013 points which devalues the contract, I'd verify in writing exactly how many 2013, 2014 and 2015 points you are getting. Personally I didn't consider vacation pending contracts when I was shopping - there are tons of AKV contracts for sale and I wanted one I could close without waiting.

 

[MomtoBJSF]

Timeshare store has listings with cannot close before dates which they note in the add, it's not uncommon, but how much time are we talking about? Why didn't the agent mention this detail when you made your offer? You say the contract is loaded with 2013 & 2014 points, but unless they are using banked 2012 points for this vacation, they must be using 2013 points which means you won't get all of the 2013 points which devalues the contract, I'd verify in writing exactly how many 2013, 2014 and 2015 points you are getting. Personally I didn't consider vacation pending contracts when I was shopping - there are tons of AKV contracts for sale and I wanted one I could close without waiting.

The reservation is for beginning of June, they are using Banked Points from 2012, but we will get the 2013, and 2014 points. We are in no hurry to use the points now. I'm not sure if we would have put an offer on it if we had known ahead of time.

I just wanted to know if they could still send all the paper work to Disney for PROF even with the existing reservation.

 

[KAT4DISNEY]

The reservation is for beginning of June, they are using Banked Points from 2012, but we will get the 2013, and 2014 points. We are in no hurry to use the points now. I'm not sure if we would have put an offer on it if we had known ahead of time.

I just wanted to know if they could still send all the paper work to Disney for PROF even with the existing reservation.

Yes they can. So if it passes ROFR you should be able to close immediately after the vacation.

 

[MomtoBJSF]

Yes they can. So if it passes ROFR you should be able to close immediately after the vacation.

Great!. Thank you so much.

 

[Dean]

Yes they can. So if it passes ROFR you should be able to close immediately after the vacation.

You can actually close during the reservation, I'd set it up on the day after check in.

OP, make sure the 2013 points are banked already.