New to Forum Please help with question!

[lemon]

I am looking to purchase a DVC property at OKW and it states that it has 500 points banked from 2007 and it has a February user year, my question is will I lose those points if not used by February 2009? Or can I place them into the World Passport and extend their life for 2 more years? Thanks in advance for any help....The reason I ask their seems to be some uncertainty by the company selling this DVC on this specific topic.

Thanks in advance for any assistance...

 

[Deb & Bill]

You'd have to use those points before Feb 1, 2009. On Feb 1, 2009, they are expired. If you started the process to purchase that contract today, you might be able to close and have access to the points by mid-Jan if you were lucky.

 

[lemon]

Thank you for the very quick reply. Do you think it is possible to find somthing in Orlando in January utilizing 500 points with only 1 or 2 weeks booking before they expire? I think she said it takes 6 weeks to complete closing so that would put me close to losing those points.

 

[Deb & Bill]

You might find something at OKW or SSR.

 

[Chuck S]

Since you could only use them at DVC resorts, because you'd be within 4 months of your use year, it could be difficult to use them. You never know until you try, but you probably would have to piece together a reservatoin between several DVC resorts and room types.

 

[WilsonFlyer]

<<Bob butts his nose where it doesn't belong to ask a question>>

Would it be possible for him to have the current owner to make the reservations for him now and transfer those reservations over with the deed when the deal is done? That could buy him a couple of months to get a better selection.

Would that work if they had a signed agreement? Would Disney honor the reservation and transfer it?

 

[Chuck S]

<<Bob butts his nose where it doesn't belong to ask a question>>

Would it be possible for him to have the current owner to make the reservations for him now and transfer those reservations over with the deed when the deal is done? That could buy him a couple of months to get a better selection.

Would that work if they had a signed agreement? Would Disney honor the reservation and transfer it?

A good idea, but very doubtful it would work. Generally all existing reservations are cancelled at time of transfer, when they enter the new owner account info into the computer system. I've never heard of them retaining a previously made reservation.

 

[DebbieB]

<<Bob butts his nose where it doesn't belong to ask a question>>

Would it be possible for him to have the current owner to make the reservations for him now and transfer those reservations over with the deed when the deal is done? That could buy him a couple of months to get a better selection.

Would that work if they had a signed agreement? Would Disney honor the reservation and transfer it?

No, all existing reservations are cancelled at closing. DVC stopped allowing that awhile ago. They can't do a points transfer to someone else because they are banked points.

 

[WilsonFlyer]

Gotcha and it makes sense. Just seemed like a logical question to me. Thanks!

 

[Dean]

<<Bob butts his nose where it doesn't belong to ask a question>>

Would it be possible for him to have the current owner to make the reservations for him now and transfer those reservations over with the deed when the deal is done? That could buy him a couple of months to get a better selection.

Would that work if they had a signed agreement? Would Disney honor the reservation and transfer it?

But the buyer could use the points prior to closing for DVC, CC, DC, DCsL, etc as the cancelation happens at transfer, not at ROFR. Just make it a condition of the sale and give enough down payment to justify the requirement.

 

[Redbudlover]

I just bought 50 points at BCV, use year March. It comes with 100 points available in 2008 and 50 coming in 2009. Does this mean I have to use the 100 by March or lose them. what is I cannot get a reservation in time? I just passed ROFR, but closing won't probably happen until Jan 5... If I need to use them by March and can't should I bank them for 2009?

 

[mickeymorse]

I just bought 50 points at BCV, use year March. It comes with 100 points available in 2008 and 50 coming in 2009. Does this mean I have to use the 100 by March or lose them. what is I cannot get a reservation in time? I just passed ROFR, but closing won't probably happen until Jan 5... If I need to use them by March and can't should I bank them for 2009?

If I`m reading this right, it looks like you have 50 banked 07 pts that will expire at the end of Feb 09. You also have 50 pts from 2008 that expire at the end of Feb as well. Unfortunately since they are inside of the last 4 months of their UY, they can`t be banked either. They needed to be banked before Nov. Hope this helps clarify everything. If I`m wrong, I hope someone will let me know as well.

Rob