Question for the Experts: Banking Deadlines When Buying Resale ...

[DiznEeyore]

We're in the process of buying a resale at VWL. Disney has had the contract for almost two weeks, and we haven't heard anything on ROFR yet.

The contract has a March use year, and all 2007 points available. Looking over my info today, I saw that the 100% banking deadline for March UYs is August 31. We offered on this contract specifically because we wanted to bank the '07 points into '08 and use them in January '09 for dh's 40th/ds' 16th b-days. We won't be returning to WDW before then.

Now at this point, I'm thinking there's no way we'll close and be in Disney's system by the Aug. 31 banking deadline.

I'm also assuming that since the contract was written up with 2007 points available (and *not* banked), we couldn't just call the broker and ask her to see if the sellers will bank the points (I'm assuming the points have to stay in the same "position"/UY they were in when we signed the contract), which is what my dh suggested.

So, my question is, has anyone ever been up against a banking deadline like this? How did you handle it? If there is no way to bank them before Aug. 31, will Disney let us bank them as soon as we get in the system, even though we missed the deadline?

Any help/advice would be appreciated!

 

[RobDoc]

While DVC has been generous in allowing members to bank beyond usual deadlines for purchases made thru them -they have not usually allowed this with resales. If you know you want to have those points banked, it would be best to request that the current owner do that immediately (I might have made it part of my offer). I'd think that could still be done without affecting the offer. Disney does have 30 days to review the contract and decide about ROFR.

Good luck!

 

[DiznEeyore]

Thanks, Doc! Hopefully the seller can still bank them ...

I wish I'd realized that we'd be up against the deadline -- we definitely should've made it part of the offer.