What can you do with points in reservation status?

[DisneyKidds]

I am looking at a BWV resale that has all the (Dec) 2002 points borrowed and in reservation status. If we buy, I know we wont be staying at the BWV in 2002 or 2003. We will be staying at VWL in Nov. both years. We are also looking to buy a VWL resale which we would use for these Nov trips. We want to be sure we get the week after Thanksgiving so we will be sure to reserve with VWL points prior to the 7 month window opening up. I would imagine we could take the points in reservation status and change them to a VWL ressie, but I imagine that couldn't be done until 7 months and we are not willing to wait. Plus, since we wouldn't need 150 points to cover the ressie, some BWV points would remain in reservation status.

So the question. What can be done with points in reservation status? Can they be banked or borrowed? If we needed to rent them I guess it wouldn't be a problem as we would just make a new ressie and apply the points to that new ressie. Just trying to understand the implications of buying a contract with points in reservation status. If anything about my question doesn't make sense let me know.

Always another question . Thank goodness you guys are here. Thanks!

 

[drusba]

Points in "reservation" status means the member has traded those points out to reserve a non-DVC resort (and has canceled that trip). Moreover, if they are Dec 2002 points they were likely borrowed when the trade out was made as the member's cancelled trip was most likely for a time before Dec 2002. They are unusable for any DVC resort. You can only use them to reserve non-DVC resorts. You could rent to another a reservation using those points at a non-DVC resort. Moreover, as points already borrowed, they must be used for a trip before Dec 2002.

 

[DisneyKidds]

Wow - that really limits the value of those 2002 points. I guess that is not the right resale for us. We would probably look to rent those points and I bet it would be a hassle finding someone to rent them to.

Does DCL count as a non-DVC resort? Perhaps someone who needs points for a cruise would want them. I don't think it is a chance we are willing to take.

Thanks for the quick reply .

 

[DisneyKidds]

Wait a minute - let me rethink this. DW would love to stay at the GF again. We stayed there on our honeymoon and it is wonderful. If we buy DVC I doubt we will ever decide to use our points to stay there - too many points compared to the DVC resorts. With the investment in DVC, paying cash is not an option for staying at the GF either.

However, if we were forced to use the points for the GF.....if the WDW resorts other than the DVC hotels count as non-DVC resorts, the resale may present some potential. Does the GF count as a non-DVC resort under these circumstances? I'm pretty sure it does.

These are borrowed Dec 2002 points. Do they have to be used before Dec 1, 2002? This would seem odd. Normally, Dec 2002 points would be good until Nov 30, 2003, unless banked. I understand these can not be banked since they are borrowed and in reservation status, but shouldn't they still be good for use until Nov 30, 2003?

It might be time to refigure the numbers .

 

[drusba]

I believe they could be used for the cruise although I do not have the documents with me at the time to verify that. You are correct that those points will be difficult to rent. The number of points currently needed for rooms at non-DVC resorts is high. At a going rental rate of $10 per point, most can actually rent non-DVC resorts from Disney cheaper particularly with the discount programs that keep cropping up since 9/11. In other words, you would likely have to rent at a rate much less than the going rate to possibly find a taker.

You do not say anything about the contract's current, Dec 2001, points but I am assuming that if the seller has already borrowed the Dec 2002 points, now in reservation status, he has used the 2001 points. That means the contract has no points available for a DVC reservation until Dec 2003. If your intent is to go to a DVC resort in the next two years then this is definitely not the contract to purchase.

Because they are borrowed points, those reservation points must be used for a trip that ends before Dec 2002; i.e., they were borrowed from the Dec 2002 year for a trip in the Dec 2001 to Nov 2002 use year. Points once borrowed stay borrowed and must be used by the end of the year into which they were borrowed, meaning in your case by the end of Nov 2002..

 

[DisneyKidds]

The contract still has 116 of the Dec 2001 points available. I have no idea why they would have borrowed all of the 2002 points since 2001 points were still available.

That stinks about the borrowing limitations. If we could use those borrowed Dec 2002 points during the first week of Dec 2002 we could consider this resale. I guess not .

Thanks again.