Points after closing resale

[beamreach]

Closed on a resale contract couple weeks ago. Was told by member services they won't load new membership and points for 6 weeks after closing despite being notified same day of closing. My direct points were loaded practically before I hung up the phone. So...if the seller can't use the points and I can't use the points, where are these limbo points? All seems like a convenient way to 1) systemically ensure point unavailability and lower occupancy, and 2) discourage resale transactions. It's like buying a house but the HOA won't give you keys for 6 weeks. I can't be the first person to think this is improper practice, thoughts?

 

[RoseGold]

It's in your contract for X$ a point. Yes, it's theoretically possible that they get used. That's what escrow is for.

 

[Sandisw]

The transfer takes time and there is nothing that I have ever been able to find that would indicate they must handle the transfer in a certain time frame.

From what I have been told, they have different CMs responsible for handling resale transfers and direct purchases. That is why there is a difference.

 

[beamreach]

The transfer takes time and there is nothing that I have ever been able to find that would indicate they must handle the transfer in a certain time frame.

From what I have been told, they have different CMs responsible for handling resale transfers and direct purchases. That is why there is a difference.

Should they pay rent for those points they will not transfer since they are able to use them?

What takes time? The deed is recorded with OC Comptroller. I "own" it. How can they controlled that which I own.

Seems strange they can indefinitely make owned property unavailable. At market rates for 600 points, would be $10,800 per day of damages ($18 per point they are holding)...adds up quickly.

 

[varyth]

This kind of reminds me of this recent saga: https://www.disboards.com/threads/r...r-60-days-from-closing-advise-wanted.3885137/

Since reading that thread, I've been waiting with bated breath for my own resale purchase to close and points loaded.
Hope your case isn't a similar scenario, OP.

 

[Sandisw]

Should they pay rent for those points they will not transfer since they are able to use them?

What takes time? The deed is recorded with OC Comptroller. I "own" it. How can they controlled that which I own.

Seems strange they can indefinitely make owned property unavailable. At market rates for 600 points, would be $10,800 per day of damages ($18 per point they are holding)...adds up quickly.

They have to process the transfer from moving the contract over to the new owner. A new contract and number gets created and everything. You don’t keep the same contract as before because you are a new owner

Once that is created, then they can remove the contract from the previous owner, void it, and get it set up for you. Then they have to send everything over to a separate department with MS who is in charge of reviewing it all, and actually loading the points into the system for you.

So, nothing like a house where once you close, you move in because-it doesn’t need to be moved anywhere. Timeshares are simply different.

Plus they are not holding them,..they stay in one account until they move to the new account,

Prior to Covid, the process didn’t always take that long, Resale buyers are informed about it from the start…well we always were, so it is just how the process works.

I can tell you that DVD doesn’t work any faster when they are buying the contract either. They took the one I sold in ROFR April 1st. I had access to the points until June 14th before they transferred it out of my membership. . We closed May 27th. So it took them 18 days to get access For themselves,

 

[Her Dotness]

Closed on a resale contract couple weeks ago. Was told by member services they won't load new membership and points for 6 weeks after closing despite being notified same day of closing. My direct points were loaded practically before I hung up the phone.

We bought a VGF resale that showed on our membership a couple months after we were notified of the closing in March.

DH called MS to ask when points might be loaded, because he wanted to get us booked for next year. They were loaded immediately.

Didn't even have to hold for MS either. Never hurts to give MS a wee poke on such things.

 

[_auroraborealis_]

Should they pay rent for those points they will not transfer since they are able to use them?

Only if you put the condition in the contract.

 

[Alicia22]

Closed on a resale contract couple weeks ago. Was told by member services they won't load new membership and points for 6 weeks after closing despite being notified same day of closing. My direct points were loaded practically before I hung up the phone. So...if the seller can't use the points and I can't use the points, where are these limbo points? All seems like a convenient way to 1) systemically ensure point unavailability and lower occupancy, and 2) discourage resale transactions. It's like buying a house but the HOA won't give you keys for 6 weeks. I can't be the first person to think this is improper practice, thoughts?

I have no answers except to say I am in the same boat and watching my 2021 points slip away (as well as my option to bank them). At the least, Disney has no motivation to hurry along the process of recording my contract. At worst, with a little delay, they have use of the points I have purchased. I don’t see how a person wouldn’t question this.

 

[Sandisw]

I have no answers except to say I am in the same boat and watching my 2021 points slip away (as well as my option to bank them). At the least, Disney has no motivation to hurry along the process of recording my contract. At worst, with a little delay, they have use of the points I have purchased. I don’t see how a person wouldn’t question this.

Not sure what people mean that DVC is using the points.

No one is using them. As I explained, once the ownership changes hands, then they have create and process the transaction for you.

And it takes time. It’s too bad you didn’t think to have the seller bank those points for you. But, once you do have your account set up, call MS and ask them if they will bank.

I do know that people have been given an exception for this when they have mentioned that transfer took longer.

 

[LYSE]

They sand bag it on purpose, points don't do anything they just sit unused.

It's simply because they don't care and it helps them sell direct.

 

[beamreach]

I have no answers except to say I am in the same boat and watching my 2021 points slip away (as well as my option to bank them). At the least, Disney has no motivation to hurry along the process of recording my contract. At worst, with a little delay, they have use of the points I have purchased. I don’t see how a person wouldn’t question this.

I don't know how they get away with these systematic, intentional, and excessive delays, which benefit them financially. It seems like there could be a cause of action for all resale buyers who have been prohibited from enjoying points for, in some cases, months after closing on their deed real estate interest. All necessary transfer ought to occur at the time of closing, not after closing. Any real estate lawyers in the house who could comment on this?

 

[Sandisw]

They sand bag it on purpose, points don't do anything they just sit unused.

It's simply because they don't care and it helps them sell direct.

Well, as I shared, they drag it for themselves too when they ROFR points.

Point though they have the staff they have to devote to this and when you buy resale you know the process can be 4 to 6 weeks once closed.

You are right though. The benefit of direct is that they have other people devoted to that and you get the contract created, loaded, points right away.

But there is nothing with timeshare transfer of ownership that I have found that dictates this is a violation of the law. But not a lawyer..just someone who looked into it.

The other reason they can’t start the transfer process before the closing because it could change.

So legally, they can’t remove it from the previous owner and prevent them access until it done. That I know for sure.

So there is no way it can be automatic.

Of course someone can certainly try to argue that a few weeks is not reasonable.

 

[Alicia22]

Not sure what people mean that DVC is using the points.

No one is using them. As I explained, once the ownership changes hands, then they have create and process the transaction for you.

And it takes time. It’s too bad you didn’t think to have the seller bank those points for you. But, once you do have your account set up, call MS and ask them if they will bank.

I do know that people have been given an exception for this when they have mentioned that transfer took longer.

Bad use of wording on my part. The seller had already banked the points, so I am up against a true deadline. ROFR took an exorbitant amount of time (delay 1). If contract loading takes an equally extended time, the points are wasted. When I bought, Based on average wait times and broker advise, I allowed plenty of time to use the points. So yes I did think of these things.

 

[Her Dotness]

Not sure what people mean that DVC is using the points.

No one is using them. As I explained, once the ownership changes hands, then they have create and process the transaction for you.

And it takes time. It’s too bad you didn’t think to have the seller bank those points for you. But, once you do have your account set up, call MS and ask them if they will bank.

Indeed!

As I said previously, call and ASK if the points can be loaded. They simply may not have gotten back to your membership to add them even though the contract shows on your membership.

This blame game is just ugly--"simply because they don't care and it helps them sell direct" and "these systematic, intentional, and excessive delays."

FL has high case numbers. Someone in the title company was out with covid for one of our recent resale buys but was expected back before much longer, we were told, which is why we hadn't gotten documents. We didn't go ballistic, being aware that was very likely.

Some empathy would be gracious.

 

[beamreach]

Well, as I shared, they drag it for themselves too when they ROFR points.

Point though they have the staff they have to devote to this and when you buy resale you know the process can be 4 to 6 weeks once closed.

You are right though. The benefit of direct is that they have other people devoted to that and you get the contract created, loaded, points right away.

But there is nothing with timeshare transfer of ownership that I have found that dictates this is a violation of the law. But not a lawyer..just someone who looked into it.

DVD takes advantage of kindness and graciousness. Look at the condition of BWV. Look at how they treat resale transactions. They tell you they care...they might even give you a pencil on a DCL cruise. In reality, for DVD, it's all about the money, all of the time. Why should we suffer in limbo so they can benefit further? I believe a general tort may exist for these practices.

 

[pianomanzano]

DVD takes advantage of kindness and graciousness. Look at the condition of BWV. Look at how they treat resale transactions. They tell you they care...they might even give you a pencil on a DCL cruise. In reality, for DVD, it's all about the money, all of the time. Why should we suffer in limbo so they can benefit further? I believe a general tort may exist for these practices.

DVD doesn't take any money from your resale. Also, this 6 weeks should've been communicated to you by your broker prior to your purchase and is pretty standard especially for new memberships. I will say though that they finished mine in 4 weeks back in October. So hopefully you hear from them sooner rather than later!

 

[Her Dotness]

DVD takes advantage of kindness and graciousness. Look at the condition of BWV. Look at how they treat resale transactions. They tell you they care...they might even give you a pencil on a DCL cruise. In reality, for DVD, it's all about the money, all of the time. Why should we suffer in limbo so they can benefit further? I believe a general tort may exist for these practices.

Then, take up your distress with others similarly minded and organize a class action suit.

Or sell and be done with it all.

Grousing about DVD here does nothing to resolve your issues.

 

[_auroraborealis_]

DVD takes advantage of kindness and graciousness. Look at the condition of BWV. Look at how they treat resale transactions. They tell you they care...they might even give you a pencil on a DCL cruise. In reality, for DVD, it's all about the money, all of the time. Why should we suffer in limbo so they can benefit further? I believe a general tort may exist for these practices.

I don't know why you seem so upset about this? "Club" has always been marketing. It is a real estate timeshare. Disney is not offering this from the goodness of their souls or for joy and happiness for anyone save their own shareholders. You're dealing with a Fortune 500 company. It's not a charity.

BWV is on its proper refurb schedule. VWL has been messed with in favorr of accelerated schedules for VGF and Poly, but BWV isn't outside the published schedule as yet.

 

[beamreach]

DVD doesn't take any money from your resale. Also, this 6 weeks should've been communicated to you by your broker prior to your purchase and is pretty standard especially for new memberships. I will say though that they finished mine in 4 weeks back in October. So hopefully you hear from them sooner rather than later!

They actually do take money from the resale with this practice; that is, by withholding points and taking points of circulation, points cannot be used for bookings, which benefits them financially.