Offer on Feb Use Year

[etemplet]

I'm glad I did much reading on this site and others. I have noticed contracts that have a FEB use year. If points are borrowed from the 2012 UY, they must be used before Feb. 2012. At this stage of the contract, by the time one goes to act of sale the points may very well be worthless considering the narrow booking window. This would definitely degrade the value of the contract...especially if there are few points coming on in 2012 and few from 2011 that can be banked.

It would seem this would motivate a seller but create a situation where the buyer would be stuck going on vacation when they don't want to and staying at a Property that may not be their first choice.

Only a few of the points available can be banked, the majoirty must be used.

Do I have a proper grasp of the situation ?? Any other options available ??

Thanks for the help,
Gene

 

[vicki_c]

Sounds like you understand. Sometimes Member Services will let a new member bank points past the banking deadline, but I don't know if that is ever true for points that are borrowed, since the rule is that they stay in the year to which they were borrowed.

There's nothing wrong with the situation though, it's just something to consider when you're making an offer. If you can't use the points, then you should probably look for another listing, or see if you can offer low (but then you could get ROFR'd by Disney).

 

[Granny]

I agree that you have a good understanding of the point status. I'd make an offer as if it were a stripped contract for 2011 UY.

Sometimes Member Services will let a new member bank points past the banking deadline, ...

I've never heard of MS doing this for a resale contract. Only for points purchased directly from Disney.

 

[etemplet]

I agree that you have a good understanding of the point status. I'd make an offer as if it were a stripped contract for 2011 UY.

I was thinking the same thing. That would force me to go to visit Mickey in Jan. LOL My wife said..no problem, she's ready.

It only has 29 point available for 2012 so it's fairly bare and we want something we can use in 2012. The points available are 363 and must be used before Feb. By the time we close, if our offer was accepted...it'd be tight. Any banked points, which are few available, would have to be banked tomorrow. Between this and the UY being in Feb. (not good for us) I'm no longer considering this package. The points are the number I want 250 but... everything else is wrong.

I put in an offer on a different contract. We'll see how that goes.

You guys are great !!
Gene

 

[DVCconvert]

having bot 8-10 contracts this year...I agree....your offer should reflect a stripped contract.
Best of luck!