Please help a newbie

[tinkertastic]

Hi all,

My DH and I are getting ready to fill out a contract for purchase, the Owners have agreed to our offer, and i'm praying that Disney will not exercise their ROFR. I was hoping someone could help me make sure I am correct in my thinking. On the listing it says that there are 200 points available now (100 banked from'07) All coming in '09, the use year is Oct. Does this mean that the 100 banked points from 07 will expire Oct 08, and the 08 points are available till Oct 09. I think that is correct but I just wanted to double check.

Thanks in advance

 

[bangzoom6877]

If 2007 points were banked into the 2008 UY, then they have been available since October 2008 and will be available for a trip until October 2009. Those banked points now become part of the 2008 UY which began this past Oct. You have until the end of June to bank the 2008 points, but you cannot re-bank the ones that were banked from the 2007 UY. Does that make sense? In other words, use them by September 30th or lose them.

If you do not plan to use the points by Sept. 30th you could always rent them out. I did that with the leftover points from my resale contract, and it worked out very well. That way they were not lost (we're not going until 2010), I got some money to help pay my maintenance fees (actually more than the maintenance fee will be for this coming year) and I made a couple of people VERY happy to be going to WDW!

 

[disneynutz]

Hi all,

My DH and I are getting ready to fill out a contract for purchase, the Owners have agreed to our offer, and i'm praying that Disney will not exercise their ROFR. I was hoping someone could help me make sure I am correct in my thinking. On the listing it says that there are 200 points available now (100 banked from'07) All coming in '09, the use year is Oct. Does this mean that the 100 banked points from 07 will expire Oct 08, and the 08 points are available till Oct 09. I think that is correct but I just wanted to double check.

Thanks in advance

It doesn't matter what the listing says, the actual points available as reported by Disney to the Escrow company and your Broker is what counts. That number should be spelled out in your contract and is subject to change based upon Disney's report. This is a legal transaction and your Broker has a legal responsibility to act on your behalf and answer your questions before you sign the contract.

 

[KAT4DISNEY]

We also bought an Oct UY resale in May that had 07 points. I banked them once we closed (had until May 31st 2008) and will be using the remaining banked points in May of 09. The late month UY's can be a bit confusing but the banked 07 points you are getting can be used until Sept 31st 2009 along with any 2008 points. If you then end up banking any 2008 points they will be available for stays thru Sept 31, 2010.

Good luck in passing ROFR!!!!!!!

 

[tinkertastic]

Thank you all for clarifying that whole thing for me. I did receive the contract later this evening and it was spelled out in detail for me. I'm so excited! I have been wanting to be part of DVC for quite a while now. Hopefully everything will turn out well. Thanks again for clearing things up!!!!

 

[Uncle Remus]

We also bought an Oct UY resale in May that had 07 points. I banked them once we closed (had until May 31st 2008) and will be using the remaining banked points in May of 09. The late month UY's can be a bit confusing but the banked 07 points you are getting can be used until Sept 31st 2009 along with any 2008 points. If you then end up banking any 2008 points they will be available for stays thru Sept 31, 2010.

Good luck in passing ROFR!!!!!!!

Thank you all for clarifying that whole thing for me. I did receive the contract later this evening and it was spelled out in detail for me. I'm so excited! I have been wanting to be part of DVC for quite a while now. Hopefully everything will turn out well. Thanks again for clearing things up!!!!

Congratulations on your pendin' purchase.

BUT don't plan anythin' based on a date of Sept 31, there ain't one.

 

[KAT4DISNEY]

:

Congratulations on your pendin' purchase.

BUT don't plan anythin' based on a date of Sept 31, there ain't one.

Hmmmm....did they remove that day and not tell me?!?!?



Oops!

 

[mikesmom]

"30 days has September......."