? Verifying Resale Points

[Buzzro]

We are making an offer on a resale. How can I make sure that what they say they have available they have and that evrything with the account is current?

Thanks,
Buzzro

 

[CRobin]

My experience has been that they verify the point status with the resort.

The resale company generally puts a clause in your contract with them that they are not responsible for errors / omissions. Of course, I assume if you don't get what you were proposed when you signed the agreement, you can call off the deal.

 

[RobDoc]

If you are using a resale broker, you will likely have title insurabce as part of the closing package. The points available will be verified during the closing process- Disney will certify the numebr of points to the title company and then "seals" the account (cancels any reservations currently in the system) to make sure the points cannot change until after closing is complete.

if you can get the membership number, you can probably verify the numebr of points thru Disney yourself, but the seller may not provide that type of information until closing.

 

[elgerber]

I am in the process of buying resale through an individual and he had a point statment faxed from Disney, which he then faxed to me.

Erika

 

[Dean]

As a rule, the closing company will only verify the number of points owned and not the current points availability. Either getting a points accounting through the member or the owner asking DVC to divulge the appropriate info is the best way to go.

 

[msdis]

If you are going thru Timeshare Store they will request from the seller a points activity statement up front before anything else. I'm sure upon/at closing the info is verified again. We just sold some of our DVC so I can say for sure what is expected from the seller.

 

[sullync98]

We just closed on a resale - and I called cust service with the previous owners name and city/state - and they confirm the amount of points banked.

 

[Shontell_Crawford]

Buzzro,

Regardless of who you are working with...make sure the points are clearly stated in the contract and reference the year from which they are coming. Any banked, borrowed, "holding" points etc. should be disclosed from the start. While Disney won't let you personally verify another member's account, you can protect yourself through the written contract. Any discrepancies will nullify the document and the title agency should catch it.

Hopefully your Broker knows what they are doing and it shouldn't be a concern!

All the best,
Shontell