Resale/Bank Points Confirmation GRRRR!

[csmommy]

HELP! I am getting SO frustrated.


Background: made it through ROFR for OKW Feb UY, 60 banked, 70 points each year 2012 on. We asked that the 60 points be banked.

Received closing doc & it said "Seller hereby certify that they HAVE NOT & will not exchange, BANK, or take any other action in connection with said unit for year 2011 & subsequent years".

On Monday, 10/3, I emailed both the closing company & Fidelity to point out the 60 points from 2011 were to have been banked.

On Tuesday, 10/4, I received an email from Fidelity that she would order an updated point summary directly from Disney to confirm. She also said " I should have either the end of today or tomorrow morning. It's usually pretty quick".

It is now 10/7 & she still doesn't have it (so she says) & I think something fishy is going on.

What can I do?! Any suggestions?

 

[JimMIA]

With a February UY, the points would have to have been banked by Sept 30.

If they weren't, you're done. DVC's not going to let you bank the points after the deadline on a resale like they would if you were buying direct.

It sounds to me like Fidelity misunderstood your instructions, and in all likelihood that misunderstanding cost you 60 points.

If those 60 points are important to you, I'd cancel and start over with a different contract. The contract that is approaching closing is clearly NOT the contract you agreed to purchase.

[ETA: Do NOT sign and return the closing docs until this is rectified in your favor.]

There's no shortage of contracts for sale, and no reason why you should suffer because of someone else's mistake.

 

[csmommy]

With a February UY, the points would have to have been banked by Sept 30.

If they weren't, you're done. DVC's not going to let you bank the points after the deadline on a resale like they would if you were buying direct.

It sounds to me like Fidelity misunderstood your instructions, and in all likelihood that misunderstanding cost you 60 points.

If those 60 points are important to you, I'd cancel and start over with a different contract. The contract that is approaching closing is clearly NOT the contract you agreed to purchase.

[ETA: Do NOT sign and return the closing docs until this is rectified in your favor.]

There's no shortage of contracts for sale, and no reason why you should suffer because of someone else's mistake.

I have an email from them stating that they were banked after I requested it be done.

I have had such a hard time finding an OKW contract with Feb UY & the # of poits we are looking for - we already have one & I think it is easier to manage if they are at the same resort & same UY.

I just wish there was a way for me to get a points summery or for Fidelity to just tell me the truth.

 

[JimMIA]

I have an email from them stating that they were banked after I requested it be done.

I have had such a hard time finding an OKW contract with Feb UY & the # of poits we are looking for - we already have one & I think it is easier to manage if they are at the same resort & same UY.

I just wish there was a way for me to get a points summery or for Fidelity to just tell me the truth.

There is a way. The seller can go on the Member website, display their points status (as well as reservations status, if you like) and then send screenshots of that to Fidelity. Fidelity can forward them to you.

If the points were, in fact, banked, the clause in the closing documents would mean nothing more than they promise not to do any further transactions with the account -- which is the way it should be.

If they can prove they actually banked the points, you should be fine.

 

[KAT4DISNEY]

I'd go ahead and contact Fidelity again to see if they have heard anything.

Also, Disney still has been banking points on resales even if it's passed the banking deadline. Not guaranteed but don't give up hope if they weren't banked.

 

[maburke]

I have an email from them stating that they were banked after I requested it be done.

I have had such a hard time finding an OKW contract with Feb UY & the # of poits we are looking for - we already have one & I think it is easier to manage if they are at the same resort & same UY.

I just wish there was a way for me to get a points summery or for Fidelity to just tell me the truth.

I understand your feelings. I waited a long time to get the contract I wanted, too. It seems like one of the following things happened:
1) Everything is as you expect it to be, but Disney is really busy at the moment with the fiscal year ending.
2) I'm assuming the email from "them" means from Fidelity. So they told you they were banked, but Disney didn't do it properly. Fidelity ought to be able to get it done, but it might take a bit more time. But they should tell you what's going on.
3) Fidelity thought they were banked, but the seller didn't do it properly. Then the seller owes you for those points if they can't get Disney to do it now.

It seems like Fidelity is implementing some new policies to avoid the problems they've had in the past with people listing their points, but then using them, so the contract isn't what it was listed or co tracted as. This is probably one of those things, and it's probably just scenario #1. I hope so! Keep us posted!

 

[csmommy]

Finally, an answer. It turns out it is none of the above.


Fidelity had received the point summary yesterday afternoon & it showed that the seller, who has 2 contracts with Disney, made a reservation on Sept. 29th and the points were taken from the contract we are purchasing instead of their other contract. The 60 points had been banked on Sept. 9/3/11.

They contacted the seller yesterday & told them they needed to contact Disney and make sure to put the points back into the contract we are purchasing and have Disney take all of the points they are using for their vacation from their other contract. The seller did email Fidelity confirming she would do that today and did apologize for the confusion.

My emails had been ignored & DH had to call to get the story, but at least we know the hold up & will wait until we get an updated points summery showing all is as it should be. GGGrrrrrrrrrrrr

 

[etemplet]

Good Luck !!

 

[DVCconvert]

....My emails had been ignored & DH had to call to get the story, but at least we know the hold up & will wait until we get an updated points summery showing all is as it should be. GGGrrrrrrrrrrrr

I am glad you got an answer...but I was wondering, who is the agent you've been dealing with?

 

[csmommy]

I am glad you got an answer...but I was wondering, who is the agent you've been dealing with?

Rachel - who is very helpful on the phone, but not so much with emails.

 

[JimMIA]

Fidelity had received the point summary yesterday afternoon & it showed that the seller, who has 2 contracts with Disney, made a reservation on Sept. 29th and the points were taken from the contract we are purchasing instead of their other contract. The 60 points had been banked on Sept. 9/3/11.

You need to be very careful with this.

You need to rely on what you see in writing, not what someone tells you they think over the telephone.

If the points were banked, that would leave zero points in your 2011 UY. If the seller subsequently made a reservation with "your" account, whether there is a problem getting those points back depends on when the reservation is scheduled and what kind of points were used.

If it is scheduled AFTER Feb 1, 2012, the banked points should have been used for that reservation. They might (or might not) be able to reverse that mistake and restore your points, using their points for the reservation.

If the reservation is scheduled PRIOR TO Feb 1, 2012, DVC would have borrowed points from "your" 2012 UY. That's an irreversible transaction that will be much more difficult to reverse.

From your posts, it's quite obvious to me that the Fidelity folks you're talking to have no clue about the ramifications of any of these transactions. They're just trying to close a sale so they don't lose a commission.

You need to insist on seeing hardcopy documentation of exactly what you are buying. Then, I'd post it here and let some of the experienced DVC owners explain the exact details of what you've got to you.

If Fidelity actually has a points summary, it's a simple matter for them to fax or email it to you. If they won't, I'd cancel.

 

[etemplet]

Rachel - who is very helpful on the phone, but not so much with emails.

Rachael is my agent as well. It's been very good, she has been very helpful. No issues at all with email or any communications. I'm sure what you are dealing with is a difficult process for all and I expect it will be handled with utmost professionalism. Hang in there. Keep your eye on the prize.

 

[csmommy]

You need to be very careful with this.

You need to rely on what you see in writing, not what someone tells you they think over the telephone.

If the points were banked, that would leave zero points in your 2011 UY. If the seller subsequently made a reservation with "your" account, whether there is a problem getting those points back depends on when the reservation is scheduled and what kind of points were used.

If it is scheduled AFTER Feb 1, 2012, the banked points should have been used for that reservation. They might (or might not) be able to reverse that mistake and restore your points, using their points for the reservation.

If the reservation is scheduled PRIOR TO Feb 1, 2012, DVC would have borrowed points from "your" 2012 UY. That's an irreversible transaction that will be much more difficult to reverse.

From your posts, it's quite obvious to me that the Fidelity folks you're talking to have no clue about the ramifications of any of these transactions. They're just trying to close a sale so they don't lose a commission.

You need to insist on seeing hardcopy documentation of exactly what you are buying. Then, I'd post it here and let some of the experienced DVC owners explain the exact details of what you've got to you.

If Fidelity actually has a points summary, it's a simple matter for them to fax or email it to you. If they won't, I'd cancel.

Do you feel a points summery is enough for us to accept? Is there any other hard copy documentation we should ask them for? They claim they received any email from the seller that the points have been corrected. Their offices were closed, but they will order the new point summary first thing Monday morning.

Rachael is my agent as well. It's been very good, she has been very helpful. No issues at all with email or any communications. I'm sure what you are dealing with is a difficult process for all and I expect it will be handled with utmost professionalism. Hang in there. Keep your eye on the prize.

Glad she has been helpful for you, she stopped being helpful with us once the seller accepted our offer. Then we would have to email the question twice & when there was still no answer DH would call. Her excuse/answer was she didn't check her email all the time but we could call her with questions. I do not have time to call & prefer things in writing anyway. We had passed ROFR 6 days before we knew, the only way we found out was because DH called to ask what was going on. The final straw was this "little hick-up" with the sellers making a reservation etc & she never told us about it, did not answer emails so DH called, spoke with her manager who has now assumed our transaction.

 

[JimMIA]

Do you feel a points summery is enough for us to accept? Is there any other hard copy documentation we should ask them for? They claim they received any email from the seller that the points have been corrected. Their offices were closed, but they will order the new point summary first thing Monday morning.

Yes, I think an updated points summary is as good as you're going to be able to get. The date on that summary should be within the last few days. It should match, exactly, what you agreed to purchase.

If I understand your prior posts correctly, you should have zero 2011 points, 60 2011 points banked into your 2012 UY, ALL of your 2012 points (so a total of 130 points available for 2012), and ALL 70 of your 2013 points.

If the points summary shows anything else, you need to either get it fixed or cancel.

If you can get the dates of the reservation they made, that would also be good info to have. With that info, one of us here would be able to tell you specifically which UY to check for potential problems.

This is a big hassle, but it's imperative that you get it fixed NOW rather than later. Once you close, nobody has any incentive to fix mistakes and everything becomes much more difficult.

 

[csmommy]

Yes, I think an updated points summary is as good as you're going to be able to get. The date on that summary should be within the last few days. It should match, exactly, what you agreed to purchase.

If I understand your prior posts correctly, you should have zero 2011 points, 60 2011 points banked into your 2012 UY, ALL of your 2012 points (so a total of 130 points available for 2012), and ALL 70 of your 2013 points.

If the points summary shows anything else, you need to either get it fixed or cancel.

If you can get the dates of the reservation they made, that would also be good info to have. With that info, one of us here would be able to tell you specifically which UY to check for potential problems.

This is a big hassle, but it's imperative that you get it fixed NOW rather than later. Once you close, nobody has any incentive to fix mistakes and everything becomes much more difficult.

Yes, you understand the contract we are trying to purchase.

They booked their vacation on 9/3/11 for March 2012.

I now have an updated points summary dated today. How can I show this to you?

I can't tell you how much I appreciate all your help & knowledge!

 

[OrangeCountyCommuter]

If they booked for March with a Febuary use year then they did not borrow. So you just need some verification that the vacation has been cancelled....That will give you what you agreed to buy

 

[JimMIA]

If everything is good, you should have

• zero 2011 points (because they were banked)
• 130 points in your 2012 UY (the regular 70 + the 60 banked)
• and 70 points in your 2013 UY

NONE of these points should be in "Holding Account," and NONE of them should be "Reservation Points."

If you have anything different from that, post what the points summary shows and we'll try to make sense of it.

Orange County Commuter is correct that they should not have borrowed any points for that ressie -- UNLESS it cost more than the 130 points you should have in your 2012 UY. To make that ressie, they would first use the banked points, then 2012 points, and would not borrow unless it was necessary.

But just post what the summary shows and we'll take a shot at it.

 

[JimMIA]

If they booked for March with a Febuary use year then they did not borrow. So you just need some verification that the vacation has been cancelled....That will give you what you agreed to buy

The seller wouldn't need to cancel the reservation. The points were taken from the wrong contract. If they can reverse that mistake, they can pay for their reservation with the points they're keeping and OP will have the points they intended to buy.

Hopefully...

 

[csmommy]

OK I think I am all good:

Use Year 2/11
Vacation Points Available - 0
Vacation Points Available in holding - 0
Reservations Points Available - 0


Use Year 2/12
Vacation Points Available - 130
Vacation Points Available in holding - 0
Reservations Points Available - 0


Use Year 2/13
Vacation Points Available - 70
Vacation Points Available in holding - 0
Reservations Points Available - 0


Use Year 2/14
Vacation Points Available - 70
Vacation Points Available in holding - 0
Reservations Points Available - 0

Thank you SO much. Hope there isn't anything else I am missing.

 

[JimMIA]

Assuming that's an official Disney points summary, and nothing changes between now and closing, I'd say you're good.

This never should have been this difficult. I hope it works out for you!