Point discrepancy after closing

[Carrie932]

We closed on our VGF contract in November and when points were loaded we were allotted the right number of points but many were banked without us requesting this. When we originally contacted the broker and title company they said as far as they could tell everything was correct and said disney must have done the transfer incorrectly. We followed up with member administration and they told us that the seller had banked the points in early October which was before we had even bid on the contract. So basically the points and their status (banked vs current year) were incorrect from day one. We have read our contract and there is no mention of compensation for missing or misrepresented points which seems common. We have yet to go back to the broker and title company with Disney’s findings but we’re hoping someone would have a suggestion on how we should handle this?

At the end of the day we got the number of points we paid for but can’t use them as we want to because they were banked. We are just very frustrated that we paid administrative and closing fees and this still managed to slip past everyone. Hoping for some experts to weigh in! Thanks!!!

 

[cm8]

We closed on our VGF contract in November and when points were loaded we were allotted the right number of points but many were banked without us requesting this. When we originally contacted the broker and title company they said as far as they could tell everything was correct and said disney must have done the transfer incorrectly. We followed up with member administration and they told us that the seller had banked the points in early October which was before we had even bid on the contract. So basically the points and their status (banked vs current year) were incorrect from day one. We have read our contract and there is no mention of compensation for missing or misrepresented points which seems common. We have yet to go back to the broker and title company with Disney’s findings but we’re hoping someone would have a suggestion on how we should handle this?

At the end of the day we got the number of points we paid for but can’t use them as we want to because they were banked. We are just very frustrated that we paid administrative and closing fees and this still managed to slip past everyone. Hoping for some experts to weigh in! Thanks!!!

I don’t quite understand why you are upset? Did you not get your points as is?

What is there for Disney or the title company to do? Did you know these points were
banked before you closed? Why can’t you use them? Have you asked Disney to unbank them as a courtesy? Since your title company says Disney must have added them incorrectly, what have they offered you as far as getting it resolved? That should have been made clear before the closing. I’d contact the broker and inquire as to how this was possible. I’d also request them to show the points as listed in the contract. If they aren’t able to do so, I’d be asking for some sort of compensation from someone.

 

[Sandisw]

It is up to the broker and title agency to ensure that the points were as listed in the contract, When you sell, they get a points statement from Disney to verify the points, So, either they failed to do that, or the owner banked after it was listed and didn’t inform them.

Even without it specifically mentioned, I would contact them and tell them you want some level of compensation because the banked points are now in the wrong UY for the trip you have planned.

Since you did get the points, asking for typical compensation like $15 to $20 may be a tough ask, but I would certainly ask for $10/ point.

The other option is to ask DVC to make an exception and move them back for you, if you can provide them with a copy of the contract showing it said they were not banked. Right now, they are being pretty strict on some things, but you might get lucky.

 

[Carrie932]

Correct, we thought we were getting 4 points banked from 2019 and 38 from 2020. What we actually got were 8 from 2020 and 34 banked into 2021 along with that year’s full allotment (50). We wanted to go this May (Sep use year) and with borrowing restrictions we are having to do a shorter stay/lower point room than planned. Again, the total adds up to what we expected but they were allocated totally differently.

I don’t quite understand why you are upset? Did you not get your points as is?

What is there for Disney or the title company to do? Did you know these points were
banked before you closed? Why can’t you use them? Have you asked Disney to unbank them as a courtesy? Since your title company says Disney must have added them incorrectly, what have they offered you as far as getting it resolved? That should have been made clear before the closing. I’d contact the broker and inquire as to how this was possible. I’d also request them to show the points as listed in the contract. If they aren’t able to do so, I’d be asking for some sort of compensation from someone.

 

[Carrie932]

It is up to the broker and title agency to ensure that the points were as listed in the contract, When you sell, they get a points statement from Disney to verify the points, So, either they failed to do that, or the owner banked after it was listed and didn’t inform them.

Even without it specifically mentioned, I would contact them and tell them you want some level of compensation because the banked points are now in the wrong UY for the trip you have planned.

Since you did get the points, asking for typical compensation like $15 to $20 may be a tough ask, but I would certainly ask for $10/ point.

The other option is to ask DVC to make an exception and move them back for you, if you can provide them with a copy of the contract showing it said they were not banked. Right now, they are being pretty strict on some things, but you might get lucky.

Thanks, those are our feelings exactly that they failed to do something to ensure we were getting what we entered into a contract to buy. We wanted to ask for compensation but weren’t sure if we’d have a leg to stand on since we don’t see it in our contract (lesson learned!)

 

[KAT4DISNEY]

Aug UY orr Sept UY? You had posted about a 50pt Sept contract from Fidelity. If that's the one fidelity does have a clause about not receiving points but I'd have to read it again to see if it applies to the total points being correct not different UY.

 

[Carrie932]

Aug UY orr Sept UY? You had posted about a 50pt Sept contract from Fidelity. If that's the one fidelity does have a clause about not receiving points but I'd have to read it again to see if it applies to the total points being correct not different UY.

Yes sorry, September! Fixed my post It would be fabulous if you could tell me where it is! My husband and I have read through it several times and don’t see anything unless we’re not looking in the right place

 

[Cupcake232]

I’m sorry you are still dealing with this. I have not settled the issue with mine yet either. Hoping we can resolve it before the first of the year!

 

[Carrie932]

I’m sorry you are still dealing with this. I have not settled the issue with mine yet either. Hoping we can resolve it before the first of the year!

Ugh! I was curious how you were doing with this nonsense! We heard back from our salesperson and she said someone would call us today but we never got a call

 

[Cupcake232]

Ugh! I was curious how you were doing with this nonsense! We heard back from our salesperson and she said someone would call us today but we never got a call

My broker said they would be in touch with me tomorrow. The seller wanted the opportunity to call DVC herself and if she can’t get it resolved, she is going to send the money. Part of me feels bad for her as well.

 

[myth2001]

Yes sorry, September! Fixed my post It would be fabulous if you could tell me where it is! My husband and I have read through it several times and don’t see anything unless we’re not looking in the right place

For my fidelity contact it is in Section:
11. Special Clauses/Miscellaneous items

 

[KAT4DISNEY]

Yes sorry, September! Fixed my post It would be fabulous if you could tell me where it is! My husband and I have read through it several times and don’t see anything unless we’re not looking in the right place

Oh, sorry, I missed this question. As mentioned section 11.

 

[Carrie932]

Oh, sorry, I missed this question. As mentioned section 11.

Ours must be different our section 11 is about maintenance fees and our special clauses section only has one thing and that is the fact that we were to receive 4 points banked from 2019...hoping we hear from fidelity today

 

[KAT4DISNEY]

Ours must be different our section 11 is about maintenance fees and our special clauses section only has one thing and that is the fact that we were to receive 4 points banked from 2019...hoping we hear from fidelity today

Ok, so section 11 really just describes what you'd receive if the points weren't there. In the very first section of the contract does it outline what Year 1, Year 2 and Year 3 are and then the corresponding points for each of those defined years? Right in the Property Description section.

 

[Carrie932]

Ok, so section 11 really just describes what you'd receive if the points weren't there. In the very first section of the contract does it outline what Year 1, Year 2 and Year 3 are and then the corresponding points for each of those defined years? Right in the Property Description section.

Nope...but the special clause section states “42 points, 4 of which been banked, expiring 8/31/21. Next anniversary, 9/21 will have 50 points.” We have an email clarifying this from the broker from when we first received the contract bc the wording was a little confusing. Hoping to hear back from them today but not holding my breath! Thanks for checking where it should be in the contract for me though!!

 

[KAT4DISNEY]

Nope...but the special clause section states “42 points, 4 of which been banked, expiring 8/31/21. Next anniversary, 9/21 will have 50 points.” We have an email clarifying this from the broker from when we first received the contract bc the wording was a little confusing. Hoping to hear back from them today but not holding my breath! Thanks for checking where it should be in the contract for me though!!

Ok, then you have the point outline as it should be. That you were to receive 42 points in the 2020 UY which includes 4 points banked from 2019. So 4 banked and 38 current 2020 points.
Good luck in getting it straightened out!

 

[Carrie932]

Ok, then you have the point outline as it should be. That you were to receive 42 points in the 2020 UY which includes 4 points banked from 2019. So 4 banked and 38 current 2020 points.
Good luck in getting it straightened out!

Yup, thanks!