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-   -   Might buy this contract - will there actually be enough points for the planned trip? (http://www.disboards.com/showthread.php?t=3079565)

4orm 03-13-2013 12:58 PM

Might buy this contract - will there actually be enough points for the planned trip?
 
Hello, a friend (I wish it was me) is in the process of finding a resale contract that will suit her needs. She thinks she found one and the agent selling it said this will work for that she wants it for but she and I are wondering if that's correct...

Here's the details - she is planning a large family trip in Jan or Feb (I can't recall which) 2014 and will need 3 studios. Total points needed is 321 points if I'm remembering right.

The contract she's looking at is '260 points for 2013 + 260 for 2014 + 260 for 2015. Can close after 5/30/13.' with a Dec U/Y.

The agent told her that she'll have enough to book those 321 points - but is that right? Wouldn't she have to borrow the 2013 points since she wouldn't be getting them till Dec? And if she's borrowing the 2013 whenever it passes ROFR wouldn't she then not be able to borrow 2014 for the remaining points needed till Dec? If this is the case then theoretically she'd have enough points for Jan'Feb 2014 but the likelihood of actually being able to book three studios in Dec for a trip a month or two later is slim, is it not?
Am I right about this or do I have it wrong? Not being a DVC owner (yet) I'm not sure of all the ins and outs (yet).

Thanks in advance for any info!

wdrl 03-13-2013 01:13 PM

Quote:

Originally Posted by 4orm (Post 47787033)
Hello, a friend (I wish it was me) is in the process of finding a resale contract that will suit her needs. She thinks she found one and the agent selling it said this will work for that she wants it for but she and I are wondering if that's correct...

Here's the details - she is planning a large family trip in Jan or Feb (I can't recall which) 2014 and will need 3 studios. Total points needed is 321 points if I'm remembering right.

The contract she's looking at is '260 points for 2013 + 260 for 2014 + 260 for 2015. Can close after 5/30/13.' with a Dec U/Y.

The agent told her that she'll have enough to book those 321 points - but is that right? Wouldn't she have to borrow the 2013 points since she wouldn't be getting them till Dec? And if she's borrowing the 2013 whenever it passes ROFR wouldn't she then not be able to borrow 2014 for the remaining points needed till Dec? If this is the case then theoretically she'd have enough points for Jan'Feb 2014 but the likelihood of actually being able to book three studios in Dec for a trip a month or two later is slim, is it not?
Am I right about this or do I have it wrong? Not being a DVC owner (yet) I'm not sure of all the ins and outs (yet).

Thanks in advance for any info!

The deed will work fine for the situation you describe.

When booking DVC villas, it doesn't matter when you MAKE the reservation. It only matters when the reservation will occur. A trip in January or February 2014 is within the December 2013 Use Year. Your friend can book that trip using the current allocation of points for 2013, and, at the same time, borrow the additional points from their 2014 Use Year (which won't start until December 2014).

If your friend gets ownership of the deed in June 2013, they can book that trip right away if the deed is for the resort they are booking. If the deed is for another resort, then they would have to wait until seven months before check-in date to book the trip.

bobbiwoz 03-13-2013 01:16 PM

December UY
December 2013 she will get 260 points they can be used from December 2013to November 2014
December 2014 she will get 260 points. They can be used from December 2014 to November 2015. These can be also be borrowed into the time frame of the December 2013 point use.

She will have to borrow some of the December 2014 points, but she can have that vacation.

WebmasterDoc 03-13-2013 01:20 PM

In addition, reservations for Jan/Feb, 2014 may be made already so if her closing is in May, the reservations may be made as soon as the contract has closed and the points are in her account.

With a December Use Year, she will have 260 points for the 2013 Use Year and can borrow up to 260 from the December, 2014 Use Year for a reservation in January or Februray, 2014.

4orm 03-13-2013 05:06 PM

Thanks so much everyone!

Deb & Bill 03-13-2013 08:02 PM

What she wants to book (three studios) and exactly when she wants those villas could be a problem. She wants Jan/Feb and can't book until maybe June. She might not be able to get what she wants.


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