Question on banked points...

[AmyBeth68]

If you buy a resale with banked points...how long do you have to use those points by? Thanks.

 

[Granny]

You have to use them by the end of the use year that they were banked into.

Example: For a contract with a February Use Year, and with 2003 points banked into 2004....the banked points would have to be used by January 31, 2005.

 

[AmyBeth68]

Thanks! I was looking at a resale w/ 2003 points banked. Dec u/y. So...they are basically useless points to me if I can't visit in Nov/Dec. Especially considering the fact that by the time I passed and closed....it would probably be November. This contract probably wouldn't make sense for me if I need to pay the MF.

Thanks again .

 

[AFMom]

I had 2003 banked points on my re-sale (using them next month!), but I only had to pay maintenance fees on the 2004 - the 2003 were basically free points. You may want to consider doing a last minute rental - someone might be able to use them on thier vacation - who knows. If the contract looks good otherwise, it may work out.

 

[MommaluvsDis]

My contract at BWV had 26 banked '03 points with a Dec UY. I asked Jason when these needed to be used and he said by November 30, 2005 which is technically the end of my '04 time frame.

 

[dmciii]

AmyBeth, now I am new at this and just looking for my own contract so bear with me but. If you have a December UY the 2003 points which should have been available for the first time on 12/1/03 were banked to be first available on 12/1/04 which means those 2003 banked points can be used anytime until 11/31/05 So those points can be used all next year except december.

Please we need a veteran DVCer here to help if Im wrong I need to know cause im looking at a similar contract. But if I am right Amybeth should buy (at least based on this)

By the way im so sorry about the ROFR I have been following your guys progress daily. Dont worry im sure we will both get our welcome home soon

I' am determined to take my first trip home by January and not as a renter, i want to own and you will too hang in there

Don

 

[Granny]

dmciii....you are correct! If the contract has banked 2003 points, with a use year of December, then the points now can only be used from December 1, 2004 until November 30, 2005.

AmyBeth...I know it's a little confusing, but December UY basically means that most trips will occur in the calendar year after the points are refreshed each year. The exception would be for December trips.