Sold but need advice

[Cinderella]

Hi - I've sold my VWL contract again! The deal is exact same as the one DVC waivered ROFR on last week - $78 a point.

Obviously I want it to go through as fast as possibly. Do they allow this - I sign the contract, fax it to the buyer and fax to DVC?

Also the buyer wants me to bank this years points and make a ressie for next September. Is there a way I can persuade them to do this? Obviously the buyer is worried that the nights he wants will have gone by then and he's trying to join the ressie to an akl lodge one?

Last question. I just wrote the last contract myself based on what DVC told me needed to be in it. As they waivered ROFR on the last one is it safe to assume I worded it ok?

 

[Boston5602]

I have no advice to offer , except You can not make a reservation now for next September and then sell your contract.

All reservations attached to the contract when it is sold is canceled.

You should have enough time to have the buyer get in the system to make their own reservations for next September BEFORE the 7 month mark. Sept is not to busy so it shouldn't be to big of a problem.


Good Luck !!

 

[Cinderella]

Thanks - I thought that would be the case. Hopefully the should still get their ressy for the dates they want then. I would just hate for them to buy then not get what they wanted. And I've never taken advantage of the 11 month window as I always book late and love all the resorts.

 

[robinb]

Catherine, I knew you would sell your VWL points for the same price .

You could bank the points, but I wouldn't if I didn't need to. When is your use year? If the buyer could still bank points into the next year once they close, I would just leave the points where they are and allow them to do it. This buyer may back out too and then you would end up with a less marketable contract.

 

[Mtnman44]

Am I missing something here? VWL with current year points selling for $78 ? That seems very low to me. Is is a 1000 pt contract or something?

 

[Cinderella]

Thanks Robin - that is good advice. I didn't think of that. And he can still bank them before the end of January anyway. It was quite a good deal for me as I was going to sell for $81 less commission through a broker, so I would have made less!

Mtnmann44 - no this was for a 150 point contract and there were still 66 2007 points available and all next years. I sold it cheap because it was a private sale and also the last buyer backed out. Disney actually waivered ROFR at $78 per point though, which is really unusual - but great for the buyer and good for me as it enabled me to sell quickly.

 

[BWV Dreamin]

Am I missing something here? VWL with current year points selling for $78 ? That seems very low to me. Is is a 1000 pt contract or something?

More food for thought should they offer extensions to the other 2042 resorts!

 

[Cinderella]

Good point - I do not understand why they offered them at OKW and not the others. I personally wouldn't benefit as I will be in my seventies when the older resorts expire. But I bet many of the younger buyers would prefer to have that extension.

 

[jamstew]

Catherine, I knew you would sell your VWL points for the same price .

You could bank the points, but I wouldn't if I didn't need to. When is your use year? If the buyer could still bank points into the next year once they close, I would just leave the points where they are and allow them to do it. This buyer may back out too and then you would end up with a less marketable contract.

Hi all -- I'm the buyer and there's no way I'd back out! I'm so excited I can't stand it I'd wire the money to Catherine tomorrow if it would make things go faster, but alas it won't Not only would I not back out, I'm already thinking about picking up some more points within the next year

My only concern with getting the points banked and a reservation made is because of my 2008 travel plans. I'm going in May and staying 9 nights at BCV & BWV on points rented from fellow DISers. I have also rented points for 5 nights (Mon.-Thurs.) at AKV for September. I wanted to be able to add 3-4 nights to the September stay, and Catherine's remaining points would get me 3 nights, which would be awesome, but I have to be able to get the dates on either end of the AKV stay. Since the preceding weekend is Labor Day, I definitely don't want that. In any case, I know that I won't be using the remaining points within the 2007 UY. Hopefully, we can get this closed very quickly (keeping my fingers crossed) and I won't have a problem getting my dates. I could stay at another resort, but I really want to go HOME to VWL

 

[kimberh]

Hi all -- I'm the buyer and there's no way I'd back out! I'm so excited I can't stand it I'd wire the money to Catherine tomorrow if it would make things go faster, but alas it won't Not only would I not back out, I'm already thinking about picking up some more points within the next year

My only concern with getting the points banked and a reservation made is because of my 2008 travel plans. I'm going in May and staying 9 nights at BCV & BWV on points rented from fellos Disers. I have also rented points for 5 nights (Mon.-Thurs.) at AKV for September. I wanted to be able to add 3-4 nights to the September stay, the Catherine's remaining points would get me 3 nights, which would be awesome, but I have to be able to get the dates on either end of the AKV stay. Since the preceding weekend is Labor Day, I definitely don't want that. In any case, I know that I won't be using the remaining points within the 2007 UY. Hopefully, we can get this closed very quickly (keeping my fingers crossed) and I won't have a problem getting my dates. I could stay at another resort, but I really want to go HOME to VWL

Jamie,
Let me be the first to say, Welcome Home Congratulations to you!!!

 

[CarolMN]

Hi all -- I'm the buyer and there's no way I'd back out! I'm so excited I can't stand it I'd wire the money to Catherine tomorrow if it would make things go faster, but alas it won't Not only would I not back out, I'm already thinking about picking up some more points within the next year

My only concern with getting the points banked and a reservation made is because of my 2008 travel plans. I'm going in May and staying 9 nights at BCV & BWV on points rented from fellos Disers. I have also rented points for 5 nights (Mon.-Thurs.) at AKV for September. I wanted to be able to add 3-4 nights to the September stay, the Catherine's remaining points would get me 3 nights, which would be awesome, but I have to be able to get the dates on either end of the AKV stay. Since the preceding weekend is Labor Day, I definitely don't want that. In any case, I know that I won't be using the remaining points within the 2007 UY. Hopefully, we can get this closed very quickly (keeping my fingers crossed) and I won't have a problem getting my dates. I could stay at another resort, but I really want to go HOME to VWL

Congrats! Welcome home!

You can't use VWL points for a September 2008 reservation at AKV until the 7 month window opens. That will be sometime in February, 2008. I'm sure you will close long before that, LOL.

Without knowing the use year, I can't tell you when the banking deadline is. You can bank all of your 2007 points as long as you do it before the 8th month following the use year. So for example, if the use year is August, you would have to bank 2007 points before the end of March, 2008.

FWIW, September doesn't book all that quickly at the DVC resorts. If you call at 7 months, I'm sure you will get your extra days (unless you have a concierge reservation).

 

[jamstew]

Jamie,
Let me be the first to say, Welcome Home Congratulations to you!!!

Thanks, Kim! I was just sitting here addressing an envelope to you when your reply posted Even though it's a small contract, I think it will serve me well, at least for a little while.

 

[Cinderella]

Jamie - don't worry. Sometimes I think I bug member services so much that they agree to anything just to get rid of me. So hopefully if i keep pestering them it will speed things up.

Carol - Jamie already has the AKL ressie and wants to add the extra nights at VWL.

Jamie is doing a DVC tour to decide where to take young grandchildren. I personally think VWL is best for young ones, but I know you will all have different opinions/advice.

My next trip is OKW - that is what happens when you get to my age! Only kidding.

 

[jamstew]

Congrats! Welcome home!

You can't use VWL points for a September 2008 reservation at AKV until the 7 month window opens. That will be sometime in February, 2008. I'm sure you will close long before that, LOL.

Without knowing the use year, I can't tell you when the banking deadline is. You can bank all of your 2007 points as long as you do it before the 8th month following the use year. So for example, if the use year is August, you would have to bank 2007 points before the end of March, 2008.

FWIW, September doesn't book all that quickly at the DVC resorts. If you call at 7 months, I'm sure you will get your extra days (unless you have a concierge reservation).

I didn't want the extra days at AKV but at VWL (sorry if that wasn't clear, which I see from review that it wasn't ). My UY is (will be) August, so the 11-month window is open now, isn't it? So, if the points were already banked and I were able to get a reservation (which I understand can't be done), isn't the time is ripe for reserving September 2008? Somebody please correct me whenever I get something wrong! I'm a quick study, but it seems like there's so much to absorb

I'm sure it will be fine, and I'll get something to extend my trip. I'm just keeping my fingers crossed that it can be a studio at VWL

 

[jamstew]

Good point - I do not understand why they offered them at OKW and not the others. I personally wouldn't benefit as I will be in my seventies when the older resorts expire. But I bet many of the younger buyers would prefer to have that extension.

What is the extension about? Not that it would effect me since I'd be in my mid-90s, but it might be an option for my kids.

 

[jamstew]

Jamie - don't worry. Sometimes I think I bug member services so much that they agree to anything just to get rid of me. So hopefully if i keep pestering them it will speed things up.

By all means, keep on bugging them

 

[Cinderella]

Jamie - Don't worry I will keep bugging them. They have offered OKW members the option to pay extra to extend their membership, but not the other pre Saratoga resort members. I do not know why they have done it this way, and whether they will offer something similar to the other resorts.

For points expiring when you're older make sure your family know how to bank borrow and stuff. My husband doesn't have a clue. If I died I worry that all my points would expire - though hopefully he'd have the sense to come to this forum and ask.

A little bit off topic but - this is how silly some families can be. My parents have a villa in Spain - totally paid for no mortage. I have visited only once, as I'm always too busy working - it is lovely, own pool, lovely rooms etc. The spanish authorities require you to name who you are leaving the villa to in the event of death - sensible. So they named their three children.

Anyway, obviously there are costs such as the spanish governments version of community charge waste disposal etc I think they come to just over £2000 a year between myself and my two brothers. Well the last time I saw my youngest brother he was moaning about having to pay a third of that a year if anything ever happened to my parents. He didn't understand the value of the asset he would have in comparison to his small maintenance payment per year. And also the fact that it increases in value.

The biggest laugh is - he has used the villa more than any of us.

So i think any DVC owner or villa owner leaving anything to family really has to leave straightforward instructions in writing. DVC can be complicated without research. I know my daughter would blow every single point on the cruise instead of renting out!

 

[robinb]

Jamie, you got a great price! I'm keeping my fingers crossed that the contract will pass ROFR again. I agree with others that say that you shouldn't have too much trouble with your reservation in September.