Need Advice Quick

[dmciii]

I am bidding on a March UY Contract which has points from 04 that expire in March 05. From all you guys who know. Does this mean I have to use them before March 1 or by March 31.

Also if I go into contract now. How long til I can reserve on these points even if I can travel in Jan/February would there be anything available and would they be in my account by then?

I really need help cause, my seller want more $ because of these points but Im not sure I can use them. I know its only opinions but your educated opinions are much better than my best guess Thanks

Don

 

[RobDoc]

March Use Year means that points must be used or banked by the end of February each year (BEFORE March 1). The next allotment of points is made on March 1 each year.

Good luck with your resale!

 

[AFMom]

There are some alternatives, if you can't use them. You can look at the rent/trade board - someone else might be interested in renting your points from you to use. Also - if you deposit those points more than 60 days prior to the Feb 28 date for an exchange through Disney (to use in the concierge collection, World Passport, etc) I believe you have another 2 years to use the exchange. Not the most efficient use of points - but it's an idea if the contract is one you want. Good luck!

 

[TroyWDW]

If you close by November, then you may be able to bank some or all of the points. You will be in the 50% banking period, which depending upon how many 2004 points are left, may result in you being able to bank them. (Read: this is a possibility, but not a guarantee)

Obtaining a reservation in January is highly likely. This is a slow season except for MLK weekend. If you are flexible with your schedule, I would expect you to be able to get a reservation at Old Key West at the very least (it is usually the last to sell out).

Troy

 

[RobDoc]

If this is a private sale, be aware that it will have to pass Disney's Right-of-refusal. If the deal is too good Disney may buy it themselves anyway.

In most cases, a resale will take 4-6 weeks from the time you make an offer. Resvervations can usually be made about a week after closing or as soon as your name is put into the DVC computer. There is currently little availability thru the end of the year, but January tends to have more availability before getting tougher in February and March. You can also ask the seller to bank the current points for you now- before the sale. They can then be used in the next Use Year (3/1/05-2/28/06).

In most resales purchases, the buyer is expected to pay only for the current year's points. All aspects of a resale are negotiable- including price, closing costs and current maintenance fees.

Be sure to do the math before making the offer.

Good luck!

 

[wdwstar]

it is to late to bank those 04 points, you could always rent them out if you have time and the dates are available after you close on the contract.

banked and borrowed points cannot be transferred to another member.



good luck !

 

[dmciii]

First I want to thank you all for the quick responses, I made an offer and I guess we will see

We are already past the 6 month window so we can only bank 1/2 which they have offered to do. Its the other half I'll have to use or rent. I just wasn't sure if on that short notice I would be able to use them.

Thanks for the update Troy on Jan. My family and I do have time then all month, Im the only one working with our new baby and I have my own business so flexability is high.

How does the world passport and concierge collection banking work AFMOM. I assume there is some minimum of points needed. I know these are terrible uses of points but if I end up with them and would lose them otherwise... Id probably rent them on the Board

Well if you have the time id appreciate the update on those but you helped me decide. Im pretty comfortable I'll be OK with ROFR. This deal is not cheap its just a plus to have those sudden points but i wasn't sure they would be of much use. You have confirmed they will be, or at least have a good chance of being. Ill let you know if they accept

Thanks Again Don

 

[kimpossible]

If you don't mind posting the details. (Those of us in ROFR waiting would love to hear them and support you.)

Kim

 

[dmciii]

NP id love to Kim ive just been waiting to join the Dumbo Limbo crowd, Ive been watching and reading with great interest

Don

 

[AFMom]

Hi! I only have the minimums for 2004 - I don't now if the 2005's are available yet. I've never done this - but Was told by my guide for the same reason you're asking! Anyway - for the WP collection, here are the minimums -

2 bdrm
High season - 270
Mid Season - 253
Low Season - 207

1bdrm
High Season - 160
Mid Season - 144
Low Season - 124

That is for a 1 week stay, through one of the properties they exchange through Interval International.

The Concierger Collection is based per night, and varies depending on the resort - there are a lot! They range from 19 points per night all the way past 150 (3 bdrm at Keystone).
Like I said - I've never done it - might have to soon! I beleive a DVC guide could walk you through the particulars even before you close.
As far as renting points - I was able to rent most of mine that I couldn't use in 24 hours using the rent/trade board. It seems to work pretty well - hopefully it'll always go that smnoothly!!!
Hope this helps!Kristy

 

[dmciii]

I cant believe how helpful you have all been to me this board is just fabulous, a little piece of magic away from the world

Kristy thanks again I think im gonna cross my fingers for a studio somewhere in the world on Jan.Feb and gonna plan time off work for me and the kids