resale and banking

[janischa]

here i am again with a question
if i buy resale, with a november use year, if there are still points from nov 2010 use year, these need to be either used by nov 2011 or banked, correct ? but let's say, i buy the contract now and i'm in the system 3 months from now; which would mean by end of august. This would mean i wouldn't be able to bank the points anymore, wouldn't it ? the only option i would have left is to either use the points or rent them out ?

is a potential solution to ask the current owner to bank the points to the next year already ?

 

[chalee94]

if i buy resale, with a november use year,

not good.

there is no november UY. a dec UY needs to be banked by july 31, or the pts will expire by nov 30.

is a potential solution to ask the current owner to bank the points to the next year already ?

this is a good option, yes.

 

[robert@dvcstore]

It is very common for us to ask sellers to bank points that will expire within the next 6 months or so if the banking window is after the closing date and the new owner knows that they will not use the points before the end of the use year. Most sellers understand and are happy to bank the points.

Robert

 

[janischa]

thanks !!

 

[JWG]

Our resale contract required the 2010 points involved be banked as part of the transaction and was written up as 50 2010 vacation points banked into 2011, 50 2011 vacation points and all future year points.

Most sellers will do this to close the sale. Contracts already past the banking deadline or that already have banked points in the last half of the use year are more worrisome.