Newbie waiting for ROFR question

[Rocknfamily]

We have put a bid on BWV resale of 350 Points. With that they have all of their 2010 points availabe and another coming in August (our use year). We are thinking of booking for Easter in 2012, do we have to have all our points aavailabe to book a Grand Villa or just when when the trip is planned for?

Thanks for any help here.

 

[DVCconvert]

SInce your UY is aug. on august 1 of each year you get vested with your annual allottment of points. Points can be banked upto the last day of the 8th month of a UY. So, the August 2010 points, to be usable after 7/30/11 would need to be banked by the end of March 2011.

If you're trying to book at your home resort for april of 2012, you can book 11 months in advance - or in May of 2011. At that time you should have your banked '10 points and be able to make the reservation using the UY 2011 points/banked points.

I hope I'm being clear.

 

[mjc2003]

If you're trying to book at your home resort for april of 2010, you can book 11 months in advance - or in May of 2011. At that time you should have your banked '10 points and be able to make the reservation using the UY 2011 points/banked points.

I hope I'm being clear.

I think you meant to say that for a booking in April 2012 (not 2010) you would book in May 2011.

 

[DVCconvert]

I think you meant to say that for a booking in April 2012 (not 2010) you would book in May 2011.

Ooops! yes, sorry, you're correct - I'll edit my above post.
Thanks mjc2003!

 

[RobDoc]

We have put a bid on BWV resale of 350 Points. With that they have all of their 2010 points availabe and another coming in August (our use year). We are thinking of booking for Easter in 2012, do we have to have all our points aavailabe to book a Grand Villa or just when when the trip is planned for?

Thanks for any help here.

I would ask the seller to bank the remaining 2010 points since that needs to be done by March 31 and you are not likely to be closed and in the DVC system before that date.

Otherwise, DVC reservations may be made 11 months in advance at your Home Resort using any/all points that will be available at the time of the reservation. In this case, that would be 350 points banked from the 2010 Use Year (if they are not banked by 3/31 they cannot be used beyond July 31, 2011), 350 points from the 2011 Use Year (8/1/11-7/31/12) and also points borrowed from the 2012 Use Year - so you could have up to 1050 points available for a trip in April, 2012.

Good luck with ROFR!

 

[Rocknfamily]

Thank you all for clearing this up. Greatly appreciated.

 

[Havana]

I agree with the previous poster, make sure with the seller that the 2010 points are banked by March 31st. Your banking deadline for August use year.
Otherwise if they are not banked, you would need to use them by the end of July this year.

 

[Rocknfamily]

We have asked the seller to make sure these are all banked by the end of this month. Fidelity (who has been great), just sent across forms to sign which we have done.

Thanks again all for taking time with a newbie (or one hoping to be a newbie soon).

 

[Sandisw]

We have asked the seller to make sure these are all banked by the end of this month. Fidelity (who has been great), just sent across forms to sign which we have done.

Thanks again all for taking time with a newbie (or one hoping to be a newbie soon).

Be sure that your contract reflects that the points are banked. If the seller's bank the points while the papers are in ROFR, Disney will most likely kick it back as the terms of the contract won't match the realities of the account.

This happened to me when I was selling. I had l9 banked points, that I didn't list as banked (had only been a DVC owner 2 months so didn't understand all the ins/outs).

Disney kicked it back out and we had to do an amendment and send it back in. It was not a big deal because we had a delayed closing anyway and it didn't matter to the buyer.

But, I would hate to see your contract delayed since you want to book for Easter 2012.

 

[Deb & Bill]

...But, I would hate to see your contract delayed since you want to book for Easter 2012.

Especially since there are only seven grand villas at BWV. And they go very quickly.