Late Banking question

[AllieV]

I recently read on here that Disney offers a one-time late banking. I am looking at a contract with an August UY. They didn't bank the 2011 points. Assuming they're not in holding status or carried over from 2010, will Disney let them? If I buy this contract, will those banking points transfer to me (I ask only because it's an exception)? They expire July 31 and this contract won't close in time for me to ask Disney to late bank them.

Thanks for any info.

 

[disneynutz]

I would find out the status of the points before you enter into a contract. As far as Disney goes, there are no guarantees.

Bill

 

[Chuck S]

IF, and that is a big IF, DVC allows the current owners to bank the points, they will carry over to you as part of the contract. But, you don't know if the current own has already used their one time special exception...nor do you know if DVC will bank them anyway. They are not obigated to make the exception, it simply has been a courtesy, it is not an "official" exception. It could be discontinued, or denied to someone, at any time for any reason.

 

[OldGrizzly57]

Just make it a condition of your offer. Most brokers will be happy to make the request to the seller but may need to explain the "one-time" exception aspect to the seller including the fact that they shouldn't disclose to DVC that they are banking so they can sell the contract.

If it works your in. If not you haven't lost anything.

Griz

 

[AllieV]

including the fact that they shouldn't disclose to DVC that they are banking so they can sell the contract.

Thanks. I was wondering if they should specifically not tell DVD that it's for a sale. I'm also wondering if this will make it more likely to be ROFRd since it's a low selling price. I don't want the contract without the extra points, so if it gets ROFRd because of the extra points, oh well.

What I learned is that the agent first double checks with Disney as to what points are available then writes the contract. This is how I found out about a less-than-honest seller (or just confused) who said they had available points that weren't there. So if these are truly late-banked, I'll find out before I send money.

Thanks again.

 

[BirdsOfPreyDave]

It certainly doesn't hurt to ask the current owner to do this. And I agree with the PP to not sign anything until the status of the points is known.

I don't think there's an official "one time special exemption" in any written procedures, although members have reported in the past that MS has shown some leniency and, because it hadn't happened before for that member, worked with them to do a banking transaction after the deadline. So the current owner needs to be careful about how they ask. It really needs to be more of an "Oh my goodness, I just realized I missed my banking deadline, and won't be able to use these points this summer. Is there anything you can do to help me so I don't lose the points?" Calling and outright asking to use their one-time late banking entitlement probably won't fly.