How long does it take to bank points?

MistisoMan

Earning My Ears
Joined
May 25, 2013
Trying to be a new owner so I’m sorry if this question is dumb, but I’m a complete novice.

I’m entering a contract for points with a February use year. There are unbanked 2021 points which I don’t intend to use before the 2022 use year. If they are to be banked I believe that has to happen before the end of September and It is almost impossible to finalize in time.

So I’m hoping the owner can bank the points before the sale. Just curious if it will delay the process long.
 

Marionnette

Children see magic because they look for it
Joined
Sep 26, 2009
Trying to be a new owner so I’m sorry if this question is dumb, but I’m a complete novice.

I’m entering a contract for points with a February use year. There are unbanked 2021 points which I don’t intend to use before the 2022 use year. If they are to be banked I believe that has to happen before the end of September and It is almost impossible to finalize in time.

So I’m hoping the owner can bank the points before the sale. Just curious if it will delay the process long.
Has your offer been accepted and has the contract gone to ROFR? It's not out of the ordinary to add a banking stipulation to your offer when you make it.
 

BillPA

DIS Veteran
Joined
Sep 7, 1999
A Feb UY needs to be banked by the end of Sept. So hurry if you want to bank those points.
 

havoc315

DIS Veteran
Joined
Aug 22, 2010
Logistically, it takes about 5 seconds to bank points. So the seller shouldn't really object to doing this for you and it shouldn't slow down the process.
 

CWTC

Mouseketeer
Joined
Aug 25, 2021
Ask the owner to bank the points for you. I have done this many times to ensure I get the points.

I will leave here because it is conjunction with a sale so it makes sense!
This. Our seller banked all the 2021 points into 2022 for us. Closed late august, waiting for Disney to load contract but we’d be cutting it awfully close to 9/30.
 

drusba

I went to Iowa once, and it was closed.
Joined
Aug 19, 1999
Heed the above as to having the seller bank the points. There is likely no way you will complete this sale and have your account before October. You have to have the contract completed. Then you have to have both sides complete everything needed for closing, you also have to wait for Disney to waive right of first refusal on the sale, then you have to close the sale, and then you have to wait about another week or two before you can set up your account with DVC so you can make reservations or bank points. The completion of the combination of those activities will likely take more than a month.

Once you are an owner with an actual account with DVC, banking simply consists of going online and taking a few steps to bank the points (probably taking a few minutes), which banking happens immediately once you complete the necessary steps online.
 
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DonMacGregor

Sub Leader
Joined
May 13, 2021
But if the contract offer has has already been signed and accepted, and the contract sent to Disney for ROFR, won't the contract need to be re-written to reflect the banked points and re-submitted? Will Disney issue the estoppel if the description of the points banked doesn't match their records?
 

Sandisw

DVC Forums
Moderator
Joined
Nov 15, 2008
But if the contract offer has has already been signed and accepted, and the contract sent to Disney for ROFR, won't the contract need to be re-written to reflect the banked points and re-submitted? Will Disney issue the estoppel if the description of the points banked doesn't match their records?
I think an addendum can be sent and in most cases it shouldn’t impact anything, especially if it just went.
 

kandlsutton

Mouseketeer
Joined
May 22, 2019
But if the contract offer has has already been signed and accepted, and the contract sent to Disney for ROFR, won't the contract need to be re-written to reflect the banked points and re-submitted? Will Disney issue the estoppel if the description of the points banked doesn't match their records?
My offer in June for a PVB contract that included 2020 points was accepted and sent to ROFR. I was worried that we wouldn‘t close and get points loaded before the July 31st deadline. Contacted the broker and asked that the seller bank the points. No issues and broker sent me screen shot of banking confirmation.
Only issues I had was title agent included the original 2020 points, but I realized that and had the documents reissued with the correct allocation before signing.
 

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