Resale not as stated after closing

[Tom and Jen]

Not to bring bad news or condemn resales.........

I have const been able to confirm our resale purchase with Disney, meaning, the contract now has our name and we can now book with thoose points. I am saddened to say that the say account was not as originally stated.

We were to have all, dec use year, 150 '03 pts and all '02 pts banked into '03. Actually we are sitting with 30 '02 pts in "holding acct" and not in '03 as mentioned.

Our intentions were to borrow and go this Sept, so it may not be an actual problem, but if I am unable to make this reservation, then there will be an issue in which I hope would be resolved.

I did just get off the phone with my Timeshare broker, and informed him of this issue. He apologized and is looking into it further.

I am by no means condemning "resales", as I have had a great experience with them. I mearly want to inform people, and suggest as part of ANY resale, you request a copy of the "points activity statement" dated at the time of your acceptance offer or dated with your docs in the mail.

I will keep you informed
Thank you.
T.

 

[JohnathanS]

Sorry to hear about the problem with your resale!

The same thing happened to another poster recently, and their timeshare broker was able to resolve it for them satifactorily. As your contract probably stated exactly how many banked points were to be transferred to you, you will have obvious legal recourse as well. Keep us posted, and give your agent some time to look into it. Hopefully they will be able to resolve the situation for you.

 

[vernon]

Your post is a little ambiguous. Are you saying that of the 02 points there are only 30 of the promised 150 and they are in a holding account or that there are all 150 points banked, but 30 of that 150 are in the holding account?
If it's the first you have genuine cause for complaint, if it's the second it's a slightly tangable "problem". The points are available for you to use or "rent out" although I would agree that while the information you were give could be said to be technically not incorrect it's certainly not a full and complete disclosure.

Hopefully you'll be OK for Sept and the problem becomes a moot point. Good point on requesting the statement information.

 

[Dean]

All should remember that the closing agent does not get involved in the points acccounting, only the actually yearly points owned.

 

[buzz5985]

I had trouble also. I was supposed to have 37 banked points. Nothing showed up when I first called Disney, so I called the Timeshare closing co, and they called Disney to research it, and ended up I had 57 banked points!!!! Could be just a data entry error. Janis

 

[Tom and Jen]

Hi all.....

Our purchase was for a Dec use year, 150 pts.
All 150 of '03 available......never been touched.
all 150 of use year '02 (we are currently "in") banked to '03

ACTUALY:
All 150 of '03 intact.........OK
123 of '02 pts banked to '03
27 + 3 (from '01, never previously mentioned) = 30 currently in "holding" for the '02 use year.
apparently there was a reservation made and cancelled after/around the time (can't say for sure, MS had aready given me"too much" info) of my offer. The seller never mentioned it.

So the result is that I now have a 60 day window in order to use those pts or loose them Nov 30 when my new use year starts.

Now this may not become a problem as I am trying to get a res for September and may be able to exhaust these 30 pts without a hitch and to no great effect on my purchase. But if I can not get the res we want then I will loose those pts that should have actually been banked (or at least 27 of them) into '03 use year.

Now I COULD end up making out, with "3" extra pts. Which I shall gladly accept, and take as compensation for my slightly elevated blood pressure this issue has given me

In which case I still wanted to bring this info to you and spread my experience and some knowledge and again the recommendation to anyone making a purchase, request 'firmly' a copy of the "pts activity statement"

I will keep you informed of my progress.
T.

 

[Dean]

Originally posted by Tom and Jen
ACTUALY:
All 150 of '03 intact.........OK
123 of '02 pts banked to '03
27 + 3 (from '01, never previously mentioned) = 30 currently in "holding" for the '02 use year.
apparently there was a reservation made and cancelled after/around the time (can't say for sure, MS had aready given me"too much" info) of my offer. The seller never mentioned it.

Actually that doesn't sound bad. You could always use your one time exemption to take the points our of the holding account and bank them. Personally I wouldn't for 30 points, esp since you are likely going to be able to use them. Good luck.

 

[Tom and Jen]

ok..... here's the update.

I was able to get a ressie for around the time frame we were looking at. This means that the 30pts that were in the holding account will get used this year and all has worked out.

I am happy that this situation, without any influence, resolved itself. I am still reserved with the fact that the sale again was not as stated. I feel there was some fault with most parties involved.

As far as the exemption goes, I was told that I was not elligable by MS because those pts were in 'holding' and not just a missed banking date.

So I am glad to say that we will be down for our DD 2nd Bday and taking her for her first haircut, well "bangs only" I am told.

T.

 

[Dean]

Originally posted by Tom and Jen
ok..... here's the update.

I was able to get a ressie for around the time frame we were looking at. This means that the 30pts that were in the holding account will get used this year and all has worked out.

I am happy that this situation, without any influence, resolved itself. I am still reserved with the fact that the sale again was not as stated. I feel there was some fault with most parties involved.

As far as the exemption goes, I was told that I was not elligable by MS because those pts were in 'holding' and not just a missed banking date.

So I am glad to say that we will be down for our DD 2nd Bday and taking her for her first haircut, well "bangs only" I am told.

T.

I can tell you I've removed points from a holding account AND banked them both though it's not worth it for just 30 points.

 

[Nanajo1]

I'm glad things worked out for you. Thirty points is thirty points!