Resale with expiring points

[Dean]

If this falls through you may have one other option.

If your broker is the timeshare store you have one option. Ask if the seller is willing to sell you the points and make a reservation through the timeshare store and reduce the purchase price by all or a portion of the sale.

Technically they'd have to do this prior to ROFR or resubmit I'd think. If not, I'd think a broker at particular risk from a fraud concern from DVC's direction. Thus I'd think the broker's would be esp. careful.

 

[kenspidey]

Technically they'd have to do this prior to ROFR or resubmit I'd think. If not, I'd think a broker at particular risk from a fraud concern from DVC's direction. Thus I'd think the broker's would be esp. careful.

I agree. It would have to be before it's sent to ROFR.

BTW, anyone else here feel how stupid this was for the seller to not have banked these points before listing? It must have affected the purchase price.

 

[deedisneydream97]

Kenspidy...well, you don't know the circumstances of the seller. It could be a bitter divorce...or death of a spouse after a long caregiving experience...when dealing with stuff like that, things like being on top of your DVC stuff kind of slides to the back burner: you know it's there, but just don't have the time or wherewithall to deal with it.

To the OP...hope for the best that the seller will turn around the documents asap....you might be surprised with an early closing...and if you cannot use those points, contact the TimeShareStore asap. We ended up with some "surprise points" when we purchased a resale. By "surprise"...we had NO idea that these extra points came along with our contract. We were able to rent those points out at the very last minute via TSS....there are alot of locals that want cheap disney vacations. We "only" got around $8 per point since it was last minute and all; but it was pretty painless...a local couple wanted a long weekend....and they got to stay at AKV.

Unless your purchase was made with the impression that those points would be included....if that is the case, I would cancel unless those points can be banked with the "one time only" clause.

 

[kenspidey]

Kenspidy...well, you don't know the circumstances of the seller. It could be a bitter divorce...or death of a spouse after a long caregiving experience...when dealing with stuff like that, things like being on top of your DVC stuff kind of slides to the back burner: you know it's there, but just don't have the time or wherewithall to deal with it.



Great point ! I don't know the circumstances and jumped to a conclusion ... My bad ...

 

[tbonge]

Unless your purchase was made with the impression that those points would be included....if that is the case, I would cancel unless those points can be banked with the "one time only" clause.

The points were part of the listing and I just didn't realize the details of closing times, banking rules, and use year adding up to them being in the listing but essentially useless. I would have offered less I had known. I realized it when reading the contract it said 200 points from 2013 must be used by 3/1/14.

The points could not be banked, transferred, or used by the seller because they were behind on the MF.

I talked to the broker today about it and we decide not to move forward with the contract. They were very helpful and nice and answered all my questions right away so I don't have any bad feelings about it other then feeling a little depressed that we don't a membership to look forward to anymore.

 

[deedisneydream97]

Journalist, I "lost" around 60 points one year because I misunderstood the consequences of changing to a smaller room but "forgetting" about the banking/holding rule. I promised myself never to be dumb enough to do that again. It uhh s easier now since I get remained emails.


To the o.p. Sorry you won't be getting your membership yet. But it looks like a lot more contracts are coming online and I'm sure you will find the perfect one.

 

[kenspidey]

The points were part of the listing and I just didn't realize the details of closing times, banking rules, and use year adding up to them being in the listing but essentially useless. I would have offered less I had known. I realized it when reading the contract it said 200 points from 2013 must be used by 3/1/14. The points could not be banked, transferred, or used by the seller because they were behind on the MF. I talked to the broker today about it and we decide not to move forward with the contract. They were very helpful and nice and answered all my questions right away so I don't have any bad feelings about it other then feeling a little depressed that we don't a membership to look forward to anymore.

Sorry it didn't work out. There are a lot of contracts out there. Be patient and we will be saying Welcome Home in no time.