What happens to points on resale contract that expire before closing?

[MouseOfCards]

What happens to points on a contract in a resale transaction that expire before the transfer/closing process is completed? Does Disney provide any exception to allow the new owner to use those points?

Also, what about points that are past the banking window, but have very little time left for use after the closing? Does Disney provide any exception for those points to be banked by the new owner?

 

[zavandor]

I don't think they would allow to use expired points.
Disney allows a one-time lifetime banking exception, but it would be much easier to ask the previous owner to bank the points before closing. If they've already passed the deadline, you have to use your get-out-of-jail card to use the points.

 

[Dean]

What happens to points on a contract in a resale transaction that expire before the transfer/closing process is completed? Does Disney provide any exception to allow the new owner to use those points?

Also, what about points that are past the banking window, but have very little time left for use after the closing? Does Disney provide any exception for those points to be banked by the new owner?

One needs to factor that in to the resale process up front. Count any points as gone that are going to expire and/or not usable. Discount any points that are questionable significantly. There have been reports of DVC allowing banking past the deadline on resales but I don't think one can count on it. One can always ask about extending points that have previously been banked or borrowed but I wouldn't count on them allowing it. The same with points in holding status or reservation status. Resales are taking longer than in years past. These are the factors one needs to compare and consider when evaluating resale contracts. The other area where one often loses out on resale is on dues. Most resale buyers overpay on dues since the brokers incorrectly tend to take the stance that you get that years points you pay the dues but for MOST resale purchase that is actually overpaying on the dues because of the calendar year basis for the dues.

 

[Minniesgal]

I can't imagine they can allow anyone to sue expired points as it would upset the whole balance of points for the year versus quantity of rooms.

i'd get the owner to bank bankable points before submitting to ROFR

 

[chalee94]

If you buy direct, DVC will allow late banking as part of the sale.

If you buy resale, Disney has very little incentive to look out for you. So as Dean said, this is something that should be priced in when you make your offer.

 

[supersnoop]

If you buy direct, DVC will allow late banking as part of the sale.

If you buy resale, Disney has very little incentive to look out for you. So as Dean said, this is something that should be priced in when you make your offer.

It's also likely that the expiring points were already banked once. So there's nothing they could do, regardless.