What do you suppose will Happen??

[MickeyFan612]

According to the Orange County Comptroller site I closed on a contract June 28,2013 and I checked on the status of my points at exactly three weeks after closing (recommended time frame from Broker that transfer should be complete) and was told there was an issue. Today I find out that the issue is a pending reservation and that the transfer cannot be completed by Disney until the reservation has been cancelled. Wondering how it got this far with a pending reservation and if this has ever happened to anyone else?? This has been a long 3-31/2 months and any insight would be helpful!

 

[twinsouvenirs]

oh man! That's crazy--is the broker looking into it? I'm pretty sure you should be compensated by the seller at least at the normal rental rate. I wonder when they made the reservation--right before the transfer?

 

[MickeyFan612]

I was thinking the reservation was made before the contract went up for sale and that no one had noticed the pending reservation because who would make a reservation knowing they had signed a contract stating how many points were going to the buyer. I have no clue how this could happen! The broker is definitely looking into- she is trying to get a hold of them to cancel the reservation but I'm wondering what will happen if they refuse to??

 

[disneynutz]

According to the Orange County Comptroller site I closed on a contract June 28,2013 and I checked on the status of my points at exactly three weeks after closing (recommended time frame from Broker that transfer should be complete) and was told there was an issue. Today I find out that the issue is a pending reservation and that the transfer cannot be completed by Disney until the reservation has been canceled. Wondering how it got this far with a pending reservation and if this has ever happened to anyone else?? This has been a long 3-31/2 months and any insight would be helpful!

It's called a screw up, someone didn't do their job or the owner slipped in a reservation after they sold the contract.

You need to see what the canceled reservation does to your deal. Will the cancellation give you some extra points to use, if so it might be in your favor.

Bill

 

[MickeyFan612]

It's called a screw up, someone didn't do their job or the owner slipped in a reservation after they sold the contract.

You need to see what the canceled reservation does to your deal. Will the cancellation give you some extra points to use, if so it might be in your favor.

Bill

After closing, the deed is in my name but Disney needs the previous owners to cancel the existing reservation before putting points in my account. Who technically owns the contract?

 

[dcfromva]

oh man! That's crazy--is the broker looking into it? I'm pretty sure you should be compensated by the seller at least at the normal rental rate. I wonder when they made the reservation--right before the transfer?

There should be language in the contract that covers this. On mine it said that $18.00 per point would be deducted for each missing point (from escrow). In any case, the seller will not get the proceeds from the sale until the points have been transferred to the buyer.

It is possible that the seller has multiple contracts and the points were mistakenly taken from the wrong contract. Hopefully a phone call will get this cleared up right away.

 

[dbs1228]

Let us know when you find out. Good luck

 

[paults]

interesting

 

[michelleiada]

Who is the broker? They typically run a check on points when the offer is made and then again when about to close. I'm curious how this could have happened also?? Hope it works in your favor!

 

[Minniesgal]

Technically your contract shouldn't have been allowed to close with a pending reservation. in fact the ROFR waiver will have incorrect point information so Disney may have to update it. Your broker should be able to advise you.

 

[MickeyFan612]

Update: Seller had used the points after closing, right before the point transfer was to be been made. It's difficult to establish a flawless system but perhaps they should not release payment or record deed until points have been approved for an immediate transfer. The seller had two vacations planned and immediately cancelled the Sept one but claimed he couldn't cancel the one for this upcoming weekend. When the broker explained that we may need to submit an addendum once the point totals changed, we decided to ask him to cancel the weekend trip as well and allow the points to go into "holding status"! This was not ideal but at least the point totals will not change! At the moment I'm waiting to hear if Disney will allow the transfer to occur w/ 86 of the points in holding status. We shall see-)

 

[twinsouvenirs]

I could be wrong but that seller sounds so sneaky!!!

 

[MickeyFan612]

I could be wrong but that seller sounds so sneaky!!!

My thoughts exactly- member services does a great job at the end of every call verifying how many points were used and remaining point balance. I cant understand claiming a mix up in contract use!

 

[Dean]

Update: Seller had used the points after closing, right before the point transfer was to be been made. It's difficult to establish a flawless system but perhaps they should not release payment or record deed until points have been approved for an immediate transfer. The seller had two vacations planned and immediately cancelled the Sept one but claimed he couldn't cancel the one for this upcoming weekend. When the broker explained that we may need to submit an addendum once the point totals changed, we decided to ask him to cancel the weekend trip as well and allow the points to go into "holding status"! This was not ideal but at least the point totals will not change! At the moment I'm waiting to hear if Disney will allow the transfer to occur w/ 86 of the points in holding status. We shall see-)

It does sound purposeful, trying to get a free vacation at your expense. There's no way to totally prevent such an issue. DVC is supposed to just cancel the pending reservations when they receive the final transfer info, I wonder why they didn't and left it up to the seller.

 

[rackle]

Update: Seller had used the points after closing, right before the point transfer was to be been made. It's difficult to establish a flawless system but perhaps they should not release payment or record deed until points have been approved for an immediate transfer. The seller had two vacations planned and immediately cancelled the Sept one but claimed he couldn't cancel the one for this upcoming weekend. When the broker explained that we may need to submit an addendum once the point totals changed, we decided to ask him to cancel the weekend trip as well and allow the points to go into "holding status"! This was not ideal but at least the point totals will not change! At the moment I'm waiting to hear if Disney will allow the transfer to occur w/ 86 of the points in holding status. We shall see-)

I hope you get all your points and everything is straightened out soon so you don't have to wait much longer. I know the broker we used specifically says "Seller's proceeds disbursed after transfer." Maybe that's how yours is too.

 

[dcfromva]

My thoughts exactly- member services does a great job at the end of every call verifying how many points were used and remaining point balance. I cant understand claiming a mix up in contract use!

If the owner has multiple small contracts for the same resort under the same member number, they may not know which points were pulled from which contract when making a reservation through member services. In my experience, Member services will verify total points used, but not from which subcontract they were pulled. (However, the member would be able to tell which subcontract was used if using the online system).

I agree the transfer system is very sloppy as it takes so long for it to occur after the deed has been recorded. After closing and certainly after the deed is recorded, the previous owner has no legal right to use the points--Disney should not be granting access.

I hope you get this resolved to your satisfaction. I would be very distressed about getting points in holding status because they have additional restrictions in their use and it wasn't the deal to which you agreed. I believe you should receive some consideration for this, but I'm not a lawyer so I'm not sure how successful you would be at achieving this.

 

[Minniesgal]

If the owner has multiple small contracts for the same resort under the same member number, they may not know which points were pulled from which contract when making a reservation through member services. In my experience, Member services will verify total points used, but not from which subcontract they were pulled. (However, the member would be able to tell which subcontract was used if using the online system).

I agree the transfer system is very sloppy as it takes so long for it to occur after the deed has been recorded. After closing and certainly after the deed is recorded, the previous owner has no legal right to use the points--Disney should not be granting access.

I hope you get this resolved to your satisfaction. I would be very distressed about getting points in holding status because they have additional restrictions in their use and it wasn't the deal to which you agreed. I believe you should receive some consideration for this, but I'm not a lawyer so I'm not sure how successful you would be at achieving this.

Actually thinking about it that maybe is a fair point. I have several contracts in my account and I have totally lost track of what is used where. It should have been handled better but could be a silly mistake instead of intent to defraud

 

[CarolMN]

Actually thinking about it that maybe is a fair point. I have several contracts in my account and I have totally lost track of what is used where. It should have been handled better but could be a silly mistake instead of intent to defraud

I think so, too.

In my experience, it's more likely to be "incompetence" than it is to be "Malice Aforethought" .

 

[twinsouvenirs]

If this was the case, couldn't the member simply have MS switch the points used for the reservation rather than having to cancel the vacations?

 

[CarolMN]

If this was the case, couldn't the member simply have MS switch the points used for the reservation rather than having to cancel the vacations?

Maybe. Depends on current availability, what the other points are available for the "swap" & when the reservation was made.

For example, one cannot switch home resort points for non-home resort points if the reservation was made more than 7 months in advance and there is no current availability for the same thing booked.