When do we start paying for BLT?

[homedangelo]

I understand that BLT will not be available until September 2009. For those of ous who will be financing the purchase with a use year of Sept. 2009, when do we make our first payment, both for the maintenance dues as well as the financing itself? Any info will be greatly appreciated.

 

[twinklebug]

Financing payments will begin typically within 2 months of signing the contract.

Your Dues will be pro-rated according to when the units are actually opened for use. In this case you would pay for Sept / Oct / Nov Dec of 2009, due Sept 2009 (or can be divided out into smaller payments starting on that date if you have them deducted from your bank acct.)

It's interesting to note that there's no mention of developers points.... yet. If/when they offer them you pay no dues for their use. I'm wondering if those folk who are buying in now for the privilege of being 'founding members' will get any for their fast purchases on an item that still a year out.

 

[homedangelo]

I guess that is my question. When we purchased SSR, the units were built and our use year coincided with the purchase, and of course, payment. Therefore, we were able to use the points right away. How can they reconcile a contract that is, for all intended purposes, prepaid for the first year -if they in fact expect me begin payment within a month or two. If we follow that logic, I would always be one full year ahead in my payment. Don't you think?

We just love the product, the fountain tile was an unkown, albeit welcome, bonus.

 

[Lesley]

I'd be interested in hearing how this works as well...as far as when payments begin. Right now I'm hesitant to take out a loan for something we won't be able to use until....hmmm...I'm talking about a small add on....so, um, some time in 2010-11? Also, how does it work out for a March UY? I get where a Sept. UY would get their points right away, but it wouldn't work properly for *everyone* to get all their points in Sept. to have to use them by the end of their UY, would it? Maybe I'm overthinking...I do that when I'm tired.

And in my own circumstance, I don't think I'll even have time to get to WDW until after Aug. 2011...

Now that I think about it, as much as BLT may sell out quickly, there are still likely to be resales available eventually....

I do think that the loan has nothing to do with the dates....you are contracted to pay for X# of months and you pay that many months, whenever that begins. Kind of seems silly for it to begin right away though.

 

[n2mm]

I'm a little confused. I've never bought at a resort not yet open. If I buy now, when do I get my points. With an April UY I'm trying to figure out the banking issues as it's time for me to bank my 2008 points next month.

 

[drusba]

By example, here is how pre-sales worked at AKV when it first went on sale in February 2007:

1. The resort was scheduled to open in September 07 but after about a month to two, they announced portions would open in July.

2. If you bought, you got 07 points, with Feb 07 being the earliest use year you could get (there is no Jan use year). If you were adding on, you would get use year you already had for 07 points, e,g,, if you had a December use year, the earliest AKV points you would get would be those issued in Dec 07.

3. When you bought, any mortgage payments began right after closing which generally occurs from a couple weeks to a month after all documents are signed and returned..

4. You could not use the points (at any resort) before the unit you purchased an interest in was finished and available for occupancy, for some that meant July, for most that meant Sep. In other words, if your unit was not to be finished until Sep, you could reserve for times beginning only on or after Sep 1 (they started taking reservations in May 07).

5. You did not pay any dues until your unit was available in the system, for some that meant they started paying in July, for others in Sep. You paid dues only for the remainder of the year, e.g., you paid a half years of dues starting in July if you had July unit and paid a 1/3 year worth of dues starting in Sep if you had a Sep unit. However, when you buy you either pay the full purchase price up front or finance, and if uyou finance, monthly payments on the mortgage begin rught after closing.

6. As to current sales of Kidani at AKV, the same is essentially going on. None who are buying AKV points now for Kidani units can use those AKV points except for a trip that begins after April 30, 2009 (Kidani opens May 1) and dues won't start until May and they will pay a pro rata share of dues for 3/4 of the calendar year.

It is not yet known what the earliest use year points will be for BLT. They may only be points beginning in 09 but they may be able to stretch it back into 08, perhaps as early as Oct, but likely not Sep 08 because those points would be scheduled to expire before the resort opens in Sep 09.

 

[Let'sGoToDisney]

We purchased 160 points at BLT last night. Our guide said that since we have a February user year, we will be in the first group to get our points. He said we can start making reservations for BLT march 1. Since i don't want to use BLT points anywhere else (at least for now), I am not worried about when I could use them elsewhere.
Does anyone know when our contract with BLT ends?
Janice

 

[LisaS]

5. You did not pay any dues until your unit was available in the system, for some that meant they started paying in July, for others in Sep. You paid dues only for the remainder of the year, e.g., you paid a half years of dues starting in July if you had July unit and paid a 1/3 year worth of dues starting in Sep if you had a Sep unit. However, when you buy you either pay the full purchase price up front or finance, and if you finance, monthly payments on the mortgage begin right after closing.

Great explanation! Just one correction: your dues begin on the later of your purchase date, the occupancy date of your Unit or the start of your initial Use Year. I purchased AKV in Feb 2007. My occupancy date was Sep 1, 2007. My initial UY started on Oct 1, 2007 so my dues began Oct 1, 2007, not Sep 1, 2007. I paid approximately 3 months worth of dues. They calculate it based on the number of days left in the year so I paid 92 days worth of dues in 2007.

 

[honeymo78]

Great explanation! Just one correction: your dues begin on the later of your purchase date, the occupancy date of your Unit or the start of your initial Use Year. I purchased AKV in Feb 2007. My occupancy date was Sep 1, 2007. My initial UY started on Oct 1, 2007 so my dues began Oct 1, 2007, not Sep 1, 2007. I paid approximately 3 months worth of dues. They calculate it based on the number of days left in the year so I paid 92 days worth of dues in 2007.

Exactly - we have a dec uy so we got Dec 09 points for BLT (there are no 08 points). We don't pay our first dues until dec 09, however we can use those points anytime staring in Sept. I can't remember the technical term for using those points since its not actually borrowing, although it works out the same.

 

[n2mm]

So if I buy now and I have an APRIL UY, I would not get my BLT points until April 09?

 

[drusba]

So if I buy now and I have an APRIL UY, I would not get my BLT points until April 09?

That is correct, and you won't be able to use them for any trip at any of the resorts except one that begins on or after 9/1/09.

(And thanks to others above for the correction.)

 

[n2mm]

That is correct, and you won't be able to use them for any trip at any of the resorts except one that begins on or after 9/1/09.

(And thanks to others above for the correction.)

Thanks.

 

[Wilson.dvc]

When is payment due if the points are being purchased with cash?

Would it be due when the contract paperwork is completed or at some other future date?

Thanks!

 

[jerseygal]

If not financing, wouldn't payment be due within 10 days or so from date of contract just like other DVC Resorts?

 

[HappyHappy]

Exactly - we have a dec uy so we got Dec 09 points for BLT (there are no 08 points). We don't pay our first dues until dec 09, however we can use those points anytime staring in Sept. I can't remember the technical term for using those points since its not actually borrowing, although it works out the same.

If I am a new buyer (BLT) can I get a Dec UY? If I get a Dec UY and get Dec 09 points for BLT and want to book a reservation for Dec 09 when can I make that reservation? I thought I read reservations start March 1st. Is the 11 month window waived for new, not yet open resorts?

 

[honeymo78]

For the first set of reservations for a new property you generally lose the 11 month window - I think AKV ressies started in Aug for stays in May. However, there is likely a window where only BLT owners can book (someone suggested May 1 for other DVC owners) but I'm not sure. Just be ready to make that Dec reservation as soon as the window opens. I'm sure you can get a Dec UY, just tell your guide that is what you need.

 

[drusba]

If I am a new buyer (BLT) can I get a Dec UY? If I get a Dec UY and get Dec 09 points for BLT and want to book a reservation for Dec 09 when can I make that reservation? I thought I read reservations start March 1st. Is the 11 month window waived for new, not yet open resorts?

They will start taking resservations from BLT owners March 1, 2009 for any trip from Sep 09 to early Feb 2010. They will start taking reservations from other DVC members March 15 for trips between Sep 09 and latter part of Oct. (end of 7 month window). Same happened at AKV Jambo; it opened July 1, 2007. Owners were allowed to start making ressies mid-May 07 and non-owners in June.

 

[HappyHappy]

thank you !!