Points missing from a resale contract?

[MeetMeAtMainStreet]

We purchased a resale contract and member services put the points in our account last Friday. The contract listed 100 pts for 2022 that expire 3/31/23. But when the points got put in our account member services said there are no points for 2022. I’ve tried calling and emailing the listing agent and she has not replied to anything. Is there anything we can do?? Thanks in advance!!

 

[Jayunit09]

Check your contract, mine has a stipulation it in that the former owners would have to pay us $20/point for any missing points.

 

[Matty B13]

Make sure to review all your documents and make sure about the point allocation.

 

[Roadbird]

I had something similar happen recently where when the points initially loaded on a new resale contract 2024 and 2025 points were missing. I chatted with Member Services and they investigated and added the points. I would start with Member Services before raising hell with your broker.

 

[starry_solo]

Doesn’t it take them time to add points to contracts after they add the membership

 

[Sandisw]

Doesn’t it take them time to add points to contracts after they add the membership

Yes. But in this case, points were loaded but they said the ones that were missing didn’t exist.

 

[MeetMeAtMainStreet]

I had something similar happen recently where when the points initially loaded on a new resale contract 2024 and 2025 points were missing. I chatted with Member Services and they investigated and added the points. I would start with Member Services before raising hell with your broker.

Thank you for your time. I have already confirmed with member services. They said there’s nothing there and I would have to go to the broker.

 

[MeetMeAtMainStreet]

Make sure to review all your documents and make sure about the point allocation.

I have. And the contract coordinator at the company confirmed we should have them based on the contract but he said the listing agent has to take care of it and she will not respond. Thank you for your time.

 

[MeetMeAtMainStreet]

Check your contract, mine has a stipulation it in that the former owners would have to pay us $20/point for any missing points.

Thank you for your help! I will look into this! Do you mind me asking what company you used that had this in the contract? I’m starting to regret the broker we used.

 

[eandt]

We purchased a resale contract and member services put the points in our account last Friday. The contract listed 100 pts for 2022 that expire 3/31/23. But when the points got put in our account member services said there are no points for 2022. I’ve tried calling and emailing the listing agent and she has not replied to anything. Is there anything we can do?? Thanks in advance!!

This almost happened to us several years back. We had made an offer on a small Poly contract which was accepted only to have the agent contact us several days later telling us that the points the seller told them were available were actually not available. This along with the extended resale process soured us on resale so we ended up buying and adding on direct since. Now that we have a couple contracts we may venture back into trying the resale market since the prices and process are getting to be more worth the effort and time.

 

[Matty B13]

Also contact the Title Company about this, and also if you have Title Insurance you might be able to file a claim.

 

[RoseGold]

Title company. The broker is useless at this point. There should be a cash amount in the contract for this, hope it's good.

 

[Jayunit09]

Thank you for your help! I will look into this! Do you mind me asking what company you used that had this in the contract? I’m starting to regret the broker we used.

Broker was DVC Resale Market. I think it’s the title company who you would contact though. Mine was Magic Vacation Title who was awesome.

 

[Mle8308]

I have. And the contract coordinator at the company confirmed we should have them based on the contract but he said the listing agent has to take care of it and she will not respond. Thank you for your time.

Who did you use?

 

[TheLyinKing]

I'm currently in the process of purchasing resale (in ROFR), but our contract w/ Fidelity had a stipulation that any missing points would be compensated at $25pp. Would take a look at your contract for any stipulations there. If not then yeah I'd imagine the title company is would be who you'd reach to.

 

[Johtull12]

from my last contract ..."IF THERE ARE LESS POINTS THAN WHAT IS STATED IN THIS CLAUSE AT TIME OF TRANSFER, THERE WILL BE A $20 PER POINT COMPENSATION FROM SELLER TO BUYER."