Question about buying Directly

[lionqueen]

Hi everyone. I am looking to possibly buy directly for a December UY, 150 points at the Poly After talking to a sales person, it sounds with the Dec UY that we can get 2024 points that we can bank or do the Magical Beginnings. and if we pay out of pocket we can spread out payments for 60 days. My question is: what is the latest date that we can sign the paperwork and get the 2024 points? And does the contract need to be paid in full by that date or just paperwork just signed? Also, is it the 2025 points that are pro-rated? Is there anything else i should be aware of or extra costs (i know there are closing costs)? Thanks for any advice.

 

[muppets3d]

If you're a first time buyer the rules may be different. For existing members adding on, we just need to make the decision to add-on and pay the down payment 2 or 3 business days before the new use year. So practically that means before Thanksgiving in this case, I would say.

You do not need to have the paperwork signed by Dec 1 or even paid off by Dec 1, since as you said you can stretch out your payments over 60 days. You have 30 days to sign your paperwork once you pay your down payment.

I recommend you go over this plan with a guide just to make sure it all applies in your case, since as I said the rules may be different if you're a new member.

 

[lionqueen]

If you're a first time buyer the rules may be different. For existing members adding on, we just need to make the decision to add-on and pay the down payment 2 or 3 business days before the new use year. So practically that means before Thanksgiving in this case, I would say.

You do not need to have the paperwork signed by Dec 1 or even paid off by Dec 1, since as you said you can stretch out your payments over 60 days. You have 30 days to sign your paperwork once you pay your down payment.

I recommend you go over this plan with a guide just to make sure it all applies in your case, since as I said the rules may be different if you're a new member

thanks for the info. we are current member so this is helpful!

 

[sndral]

…Also, is it the 2025 points that are pro-rated? Is there anything else i should be aware of or extra costs (i know there are closing costs)? Thanks for any advice.

When it comes to maintenance fees use year doesn’t matter, they are assessed based on a calendar year. You’ll pay prorated dues for 2025 if you buy between now & the end of the year. Your MFs/dues for 2026 will be due in Jan. 2026, unless you set up a monthly payment plan.
You won’t pay MFs on the 2024 points you’ll get right now if you buy a Dec. use year & they’ll typically allow you to bank them late.

 

[muppets3d]

When it comes to maintenance fees use year doesn’t matter, they are assessed based on a calendar year. You’ll pay prorated dues for 2025 if you buy between now & the end of the year. Your MFs/dues for 2026 will be due in Jan. 2026, unless you set up a monthly payment plan.
You won’t pay MFs on the 2024 points you’ll get right now if you buy a Dec. use year & they’ll typically allow you to bank them late.

Obviously if you do magical beginnings there's nothing to bank, but yes if you don't do magical beginnings they can bank your new points.

 

[airjay75]

If you're going to do magical beginnings (which I personally think is a great deal), you need to do it 4 days before the end of your current UY. This year, that is Thanksgiving. I'd probably make sure I was in contact with my guide in advance of that to make sure make sure you know what they need to do that. Current incentives end on December 10th, so you won't be crossing an incentive end period at that time, but as long as you spread out your payments past December 10th, if the incentives after December 10th are better, they can probably reprice it with better incentives. No real benefit to signing any deal with them before then because you'll just have 2 more months worth of dues - it's prorated from the day you e-sign (not notarize which happens later) your paperwork.

 

[ShaneDJ]

If you're going to do magical beginnings (which I personally think is a great deal), you need to do it 4 days before the end of your current UY. This year, that is Thanksgiving. I'd probably make sure I was in contact with my guide in advance of that to make sure make sure you know what they need to do that.

Is that 4 business days or calendar days?

And is this documented somewhere?
(I had not heard of this until recently when I read about it on DISboards.)

 

[airjay75]

Is that 4 business days or calendar days?

And is this documented somewhere?
(I had not heard of this until recently when I read about it on DISboards.)

Nearly certain it is 4 calendar days. There used to be some disclosure on the dvcwelcomehome.com, but it doesn't seem to be easily coming up on a google search. That said, I don't know whether that means you have to e-sign your paperwork or just formally indicate it to your guide 4 calendar days before the start of your UY - I know when you're wanting to lock in a certain round of incentives, a voicemail or e-mail to your guide is generally enough to do so. I don't know if that is the case with magical beginnings.

 

[Genie+]

I remember the ‘4 days’ thing often mentioned during the incentive round we bought and people were trying to optimize the timing their purchase.

With the late Thanksgiving this year it might be best not to risk cutting it too close without discussing with guide first.

Great plan! Extra year of points with the least dues.

Talk to your guide. They should be able to work out something like making the down payment and signing the documents on say Monday Nov 24th, and the balance split to be paid 30 and 60 days after. Once fully paid it will close and should get your MB rebate check within 4-6 weeks. Ours came 3 weeks after closing.