sold 2004 when to can we borrow-update!

[pjpoohbear]

Ok. Sent the paperwork in last week. We close at the end May, for a June use year at Saratoga Springs. We chose to sell back our first years points to bring our cost down to 79.00 per point.

So no points for use in 2004, but when can we borrow points for use, say if we decided to try our hands at the Food and Wine Festivel in early november. Can I do that as soon as the 11 month window is open or would I have to wait until June then borrow and book?

Penny

 

[dianeschlicht]

You can make that reservation after you are closed and your unit has been declared into the condominium association. Points are borrowed when you make the reservation. That means you would be using your 2005 points for a 2004 ressie.

 

[bobbiwoz]

pjpoohbear, I don't think I said, Welcome Home!



Bobbi

 

[bluecdr]

Sorry to disagree with Diane but I believe that you can make the reservation now but only for a stay starting after the later of June1, 2004 and the date that your building has been declared into the condominium association. And of course within the relevant 11 month and 7 month windows.

I also bought SSR for June Use Year and have booked for December 2004 using all my 2004 points and my borrowed points from 2005.

It is worth a phone call to MS to find out.

And Welcome Home

 

[dianeschlicht]

Originally posted by bluecdr
Sorry to disagree with Diane but I believe that you can make the reservation now but only for a stay starting after the later of June1, 2004 and the date that your building has been declared into the condominium association. And of course within the relevant 11 month and 7 month windows.

I also bought SSR for June Use Year and have booked for December 2004 using all my 2004 points and my borrowed points from 2005.

It is worth a phone call to MS to find out.

And Welcome Home

Isn't that what I said too?

 

[pjpoohbear]

I get both of the responses! I can make the reservation today or when the 11 month window/7month window opens, but it must be for dates after the closing.

My main concern was if borrowing from a future year can happen only after the present year has started? ie borrowing from 05 so must wait for 04 start year to pass.

Does the borrowing happen when i call, therefore I must wait or does it actually happen when the stay happens, with the points held after the the reservation is made until the stay takes place?

Did that make sense?

Penny

 

[dcfromva]

I thought that a person could not bank or borrow until the contract has closed? Is that not correct? (hmmm, I have been holding off on making a reservation that requires borrowing with my SSR points pending the closing...)
-DC

 

[Dean]

Originally posted by dcfromva
I thought that a person could not bank or borrow until the contract has closed? Is that not correct? (hmmm, I have been holding off on making a reservation that requires borrowing with my SSR points pending the closing...)
-DC

That is correct. In this case no reservations until closing but on or after the date of inventory of the unit or 1 June whichever is later. You'd be borrowing the points from the 2005 use year.

 

[Caskbill]

Originally posted by pjpoohbear
....My main concern was if borrowing from a future year can happen only after the present year has started? ie borrowing from 05 so must wait for 04 start year to pass.

Does the borrowing happen when i call, therefore I must wait or does it actually happen when the stay happens, with the points held after the the reservation is made until the stay takes place?

Did that make sense?

Penny

You only borrow points as needed to make a reservation. You can reserve up to 11-months ahead for your home resort. When you borrow points they are moved into the new year and then allocated for your reservation. The points are not actually 'used' until you check in but they have been 'converted' to the new year. In other words you can cancel your reservation and then you get the points back. If they are borrowed points they must be used within the use year into which they were moved. If they are regular points (not borrowed or banked) they can be banked into the next year, pending banking deadlines that apply.

To understand use years a little easier, make yourself a chart like this one, for a June use year. You receive a new allocation of points every June 1st which are good for the 12 month period beginning June 1st. You may bank from one year into the next all or any portion of your annual allotment (per banking guidelines and banking deadlines). You may borrow points from a following year, but only the number of points required to actually make the reservation.

<b>Use Year.....Vacation Dates</b>
2004.....June 1, 2004 through May 31, 2005
2005.....June 1, 2005 through May 31, 2006
2006.....June 1, 2006 through May 31, 2007
2007.....June 1, 2007 through May 31, 2008
2008.....June 1, 2008 through May 31, 2009
2009.....June 1, 2009 through May 31, 2010

and so on.

Suppose you purchased and sold back your 2004 points so your first allocation is June 1st, 2005. You could actually make a reservation for a vacation beginning June 1, 2004 if you wanted, by borrowing your 2005 points.

Suppose you wanted to stay 4-nights, June 1st through June 4th, 2004. You could actually make the reservation on July 5th, 2003 which would be the 11-month window for a checkout date of June 5th, 2004. And you could make that reservation using 2005 points by borrowing them and putting them into your 2004 use year which covers vacation dates June 1, 2004 through May 31, 2005.

Of course as already explained, some special conditions exist for your SSR purchase as to when you can actually 'vacation' based on your closing date and your building's completion. But after this first year, borrowing, vacation dates, and reservation date follow the example given above.

Hope this helps

 

[tjkraz]

Originally posted by Dean
That is correct. In this case no reservations until closing but on or after the date of inventory of the unit or 1 June whichever is later. You'd be borrowing the points from the 2005 use year.

I don't mean to start another one of those "why are they making exceptions for SSR owners" threads, but DVC is not holding us to this restriction. We have a December '04 trip planned, which would require borrowing a handful of '05 points in order to book the last night of the stay. I had originally planned on just booking the days I could with my '04 points and then taking my chances with the last day of the trip after the closing occurred.

However, when calling to reserve the first part of the trip I specifically asked the CM if I would have to wait longer in order to borrow from '05. Honestly I don't remember the exact reasoning that was given, but MS did confirm that I did not have to wait in order to borrow points. Sure enough, when I called back the next day, they let me borrow from '05 to book the final day.

Guess the only rules that apply these days are the ones that MS chooses to enforce...

 

[Dean]

Originally posted by tjkraz
I don't mean to start another one of those "why are they making exceptions for SSR owners" threads, but DVC is not holding us to this restriction. We have a December '04 trip planned, which would require borrowing a handful of '05 points in order to book the last night of the stay. I had originally planned on just booking the days I could with my '04 points and then taking my chances with the last day of the trip after the closing occurred.

However, when calling to reserve the first part of the trip I specifically asked the CM if I would have to wait longer in order to borrow from '05. Honestly I don't remember the exact reasoning that was given, but MS did confirm that I did not have to wait in order to borrow points. Sure enough, when I called back the next day, they let me borrow from '05 to book the final day.

Guess the only rules that apply these days are the ones that MS chooses to enforce...

That's different, but it's appropriate. If something happened to your sale, DVC could fix it. They couldn't fix something used for DC, DCL, CC or II nearly as easily.

 

[pjpoohbear]

You guys are great!

Thanks for all the informtion.

Penny

 

[pjpoohbear]

Called member services today. Thought I would give the paperwork a couple of days to get there. lol.

I asked the CM this question, " When was the earliest that I could make a reservation, seeing that I used magical beginnings and did not have any 2004 points. When would points be avaliable to borrow from the 2005 year."

Answer: " today at your home resort for the period you are interested (October 31-Nov 5, 2004). If the paper work does not go through then it will be cancelled, but if everything was good the normal windows apply."

So I did not have to wait until closing in June, but the reservation had to be after that date.

Good luck all newest members!!!!!

Penny