Points about to expire

[tx2tn]

We have passed ROFR and are waiting to close, so we are not quite members.

My question is, our contract came with points that will expire on 12-1-2008. They cannot be banked into 2009. We also will not be able to use them ourselves before they expire.

What can we do with them? I hate to let them just go away. Is there any chance of renting them out?

 

[Donald is #1]

Do you know when your closing will be? If it is soon, then I would try to either rent them or transfer them to another member.

 

[tx2tn]

Do you know when your closing will be? If it is soon, then I would try to either rent them or transfer them to another member.

First of October

 

[RobDoc]

If they cannot be banked, they cannot be transferred to another member either so your only options are to try to make a reservation for someone else and rent (or give) it to them ... OR ... you can also possibly place the points into the World Passport Collection to use as an exchange at a later date. MS can assist with your decision. If closing is completed on October 1, you should be in the DVC system within about a week and can then discuss your options with MS.

 

[Blahnde]

If they cannot be banked, they cannot be transferred to another member either ....

Just to clarify, is the reason that they cannot be banked because they were already banked from the prior year -OR- because the banking deadline has already passed? If it is because they are from a prior year then WebmasterDoc is correct, but I believe as long as they are current points they can be transferred. I just want you to have all the actual possibilities available to you.

Blahnde

 

[Deb & Bill]

Since you are in the last four months of your use year, you won't be able to use them outside of DVC either.

You may just have to kiss them a fond farewell.

 

[moredisneyplease]

Oh dont kiss them farewell!! Try to get them rented out/make a reservation for someone! Shoot, PM me and I'll let you give (or rent cheaply) them to me !!!

 

[bookwormde]

Renting out seems your only option; if you discount them significantly below $10 at 2 month out they seem to “move” pretty well.

bookwormde

 

[Deb & Bill]

You can rent them IF you find anything available to reserve.

 

[Dean]

IF closing isn't until Oct, there is no way you'll be able to get the transfer completed in time to do anything because they'll have to send the deed to be recorded then send it to DVC for the change of registration, that usually takes a few weeks. How many points are we talking about? If it's a sizable number one option might be to deposit a unit into II as soon as it's transferred over if it happens in time. You might also consider having the seller book a reservation in your name that you would use prior to the closing at DVC, a CC option, DCL or II but you'd have to travel before it was transferred over, as it would be cancelled. You might also ask the seller to help you rent them for travel prior to the official transfer.

Make sure you're not paying anything for those points including maint fees. Where do the 2007 UY (current UY) points stand? because if they're not banked, you won't be able to use those either. If so that means you should be paying AT MOST 1/12 of the maint fees for 2008 assuming all points are there for Dec, 2008.

And lastly, while I haven't heard of it being offered recently, in the past DVC has done a one time double secret exception to the banking rules so at least call and ask what they can to do help. Just make sure it's enough points to make it worth using that one time option.

 

[tx2tn]

Oh dont kiss them farewell!! Try to get them rented out/make a reservation for someone! Shoot, PM me and I'll let you give (or rent cheaply) them to me !!!

I just may do that. I just hate for them to go away. We might be able to get to HHI in November. I wonder what our chances are of getting a ressie there with only a month's notice?

 

[bookwormde]

IF closing isn't until Oct, there is no way you'll be able to get the transfer completed in time to do anything because they'll have to send the deed to be recorded then send it to DVC for the change of registration, that usually takes a few weeks. How many points are we talking about? If it's a sizable number one option might be to deposit a unit into II as soon as it's transferred over if it happens in time. You might also consider having the seller book a reservation in your name that you would use prior to the closing at DVC, a CC option, DCL or II but you'd have to travel before it was transferred over, as it would be cancelled. You might also ask the seller to help you rent them for travel prior to the official transfer.

Make sure you're not paying anything for those points including maint fees. Where do the 2007 UY (current UY) points stand? because if they're not banked, you won't be able to use those either. If so that means you should be paying AT MOST 1/12 of the maint fees for 2008 assuming all points are there for Dec, 2008.

And lastly, while I haven't heard of it being offered recently, in the past DVC has done a one time double secret exception to the banking rules so at least call and ask what they can to do help. Just make sure it's enough points to make it worth using that one time option.

DVC has not been requiring the recoreded dead for a while, the settlemnet company just sends over copies of the executed settlement papers. You are ususally in in 5-14 days after settlement with points depending on how busy contract administration is.

bookable reservations to rent in this period may be "tight"

 

[Dean]

DVC has not been requiring the recoreded dead for a while, the settlemnet company just sends over copies of the executed settlement papers. You are ususally in in 5-14 days after settlement with points depending on how busy contract administration is.

bookable reservations to rent in this period may be "tight"

I know for sure they do on change of name, I knew they didn't previously on a formal resale. It'll still take a couple of weeks minimum, still under the 60 day window for a full II deposit.

 

[bookwormde]

One thing else to mention is that there have been reports that if your realtor request DVC to “expedite” the contract due to expiring points that ESTOPPLE and contract and point loading times can be reduced.

Always worth a try

bookwormde