We just drank the Kool Aid, now what!!

[divehard]

After watching all the speculation for months about tiered benefits, resale restrictions, etc. and waiting for an outcome, DW and I decided to make an offer on BWV. The agent called us back within an hour and told us the owners had accepted. While we didn't think the "difference" would be a deal breaker or maker at this time, closing on or before March 20,2011, was part of our offer and agreement.
One of our major concerns was that once the line had been drawn, future erosion of benefits to resale contracts may be coming, and that is why the opportunity to be "grandfathered in" provided us some level of protection. Only the future can tell if it is real or imagined.
I really wanted to thank everyone for their dialogue and individual insights on the matter.
Now the questions begin.
We are buying a loaded contract with all of 2009, 2010 and 2011 points and a June YY. We have already requested the owners to bank the 2010 points per the sales contract. Assuming we close in early March as our agent is predicting, what can we do with 210 points banked from 2009 expiring at the end of May. Is there a way to secure a reservation beforehand and still proceed with the closing or must we wait and then try to book something?

 

[kristie03]

I'm pretty new and no expert, but I do think you have to wait until you close....

BUT.....I sure am glad you have drank the kool aid!! It sure is delicious!!

I'll be looking forward to welcoming you home

 

[goofy2008]

WOW! That is a loaded deal.
We bought from DVC and don't get that good of deal.

 

[divehard]

Thanks! And the price was right!
Now about that ROFR........

 

[Jason@dvcstore]

Is there a way to secure a reservation beforehand and still proceed with the closing or must we wait and then try to book something?

Unfortunately, you cannot make a reservation until after it closes. Typically it takes about 7 to 10 days after it closes for you to be in the Disney system and able to make a reservation.

Jason

 

[Dean]

Unfortunately, you cannot make a reservation until after it closes. Typically it takes about 7 to 10 days after it closes for you to be in the Disney system and able to make a reservation.

Jason

Unless you both reserve AND travel prior to closing.

One could rent them out or deposit with RCI. One could also ask for a one time exception to bank them.

 

[CrazyDuck]

You didn't drink the Kool Aid... If you did you would have paid too much $$$ for your points!

 

[DVC SSR Owner]

You didn't drink the Kool Aid... If you did you would have paid too much $$$ for your points!

Haha!

 

[divehard]

Unless you both reserve AND travel prior to closing.

One could rent them out or deposit with RCI. One could also ask for a one time exception to bank them.

Are you saying the present owners can ask for the one time exception and if granted, then the points would transfer with ownership interest at time of closing, or wait until I close and ask for it as a new owner.

 

[Dean]

Are you saying the present owners can ask for the one time exception and if granted, then the points would transfer with ownership interest at time of closing, or wait until I close and ask for it as a new owner.

The one time exemption request would be to bank the points that would otherwise be lost. Less likely to be granted in this situation but possible. All points WILL be transferred to the new owner under the current set up.

 

[divehard]

Many thanks, Dean. I've enjoyed this site for a long time even though I don't post often. Your information is always appreciated.