Renting Points..advice please

[waterford]

We are in the process of buying a resale contract at BCV. We are wiring our funds tomorrow. The contract we are buying has a small amount of points that have to be used before the end of this year which we wont be able to use for our 2009 trip.

I was just wondering how long it is likely to take from wiring my funds to having my contract complete and be in a situation to rent out these points.

Thank you.

 

[Caskbill]

It'll take a few weeks. You didn't say whether your contract has already passed ROFR or not, so that will make a difference.

You say points must be used by the end of this year. That's not correct as DVC does not have any January use year months (which would mean points would need to be used by Dec 31st.)

It depends on the use year month you purchased as to when points have to be used. Use year is not the same as calendar year. Maybe those points will be good for your 2009 vacation, or maybe they'll expire sooner than you think.

Post the use year (eg 2007, 2008) and the Use Year Month and we can tell you when they expire. Also, it may be possible to bank points still.

 

[waterford]

Our Month is December. We have bought a contract for 150 points with 39 points banked from 2006 and have to be used by 31 Nov. 2008.

We have banked 150 points 2007, will use 150 points 2008 and borrow 150 points 2009. This will give 450 points for our holiday in November 09. I hope I have this correct.

Thanks for you help.

 

[waterford]

Sorry forgot to add we have passed the ROFR stage.

 

[waterford]

bump

 

[RobDoc]

Our Month is December. We have bought a contract for 150 points with 39 points banked from 2006 and have to be used by 31 Nov. 2008.

We have banked 150 points 2007, will use 150 points 2008 and borrow 150 points 2009. This will give 450 points for our holiday in November 09. I hope I have this correct.

Thanks for you help.

Once your contract has closed, it usually takes about a week until you are in the DVC system and can make a reservation. Those 39 points need to be used for a reservation up thru November 30, 2008. At this time there are probably availability (someplace) in late August and some of September but October and November will have little available. Having said that, the dynmaics of the DVC reservation system often find availability. If you are only interested in renting out 39 points you may be fine.

If you close on Monday, you might be able to make a reservation by July 7.

Good luck with your rental ( and Welcome Home!).

 

[waterford]

Thank you for your advice.

Looking forward to my first trip home next year.

 

[DVC Eric]

Welcome home