DVC RESALES
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Old 03-17-2013, 08:02 PM   #1
disbound09
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Using PTS in a Contract before We close. Good or Bad Idea?

Ok here is my problem. I have a 320 SSR contract that is dragging on for a number of reasons. Aug UY so I had the owner bank the points last week.

We have non refundable airfare to be in Disney June 12th-19th. Signed 1/9 Passed ROFR Wired Balance on 3/4/13 The seller has not returned the corrected contract yet so it has not been sent in to Disney yet. Title company had wrong amount on contract they provided.

I am concerned that SSR will not have a 2 bedroom available if it gets down to the wire, say 2 months out.

So can I have the current owner book a reservation in our name and just wait for the contract to finally finish or would this somehow hinder the contract from closing.

Could the owner rescind the reservation after they are paid? Would I need a rental agreement? Is this a good idea?

Thanks for any insight.
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Old 03-17-2013, 08:21 PM   #2
Kidanifan08
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I don't think a contract can be sold with an active reservation. The closing would have to be delayed until after the reservation was completed.
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Old 03-17-2013, 09:35 PM   #3
disbound09
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Quote:
Originally Posted by Kidanifan08 View Post
I don't think a contract can be sold with an active reservation. The closing would have to be delayed until after the reservation was completed.
Bummer I thought I had read something to that effect. Just looking for a way to salvage my plan. I have two months 3 weeks and 4 days. Its going to be close.
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Old 03-17-2013, 09:42 PM   #4
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Reservations are canceled before the contract closes.

Banking the points may have changed the terms of the contract submitted to Disney, if so you will have additional delays.

Bill
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Old 03-17-2013, 10:52 PM   #5
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Reservations are canceled before the contract closes.

Banking the points may have changed the terms of the contract submitted to Disney, if so you will have additional delays.

Bill
Oh boy it just gets better and better.
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Old 03-18-2013, 09:44 AM   #6
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Oh boy it just gets better and better.
Call your broker and find out about banking and the contract as submitted to Disney and signed by you and the seller to see if it's an issue.

Better to fix a problem now instead of getting a surprise later.

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Old 03-17-2013, 09:43 PM   #7
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Well as of right now no problem with getting a 2 bedroom dedicated or a lock off! Hope the rest goes quickly for you but I really think you will be fine! Have fun!
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Old 03-22-2013, 11:30 PM   #8
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Quote:
We have non refundable airfare to be in Disney June 12th-19th.
I really hope you have something booked at Disney (or Universal or somewhere) just in case.
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Old 03-23-2013, 06:51 AM   #9
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I really hope you have something booked at Disney (or Universal or somewhere) just in case.
A friend checked a few days ago and said 2 bedroom SSR and OKW were still available for 6/12/13-6/19/13 I am really stressing about and debating renting pts from someone and then having to rent ours when we finally get them. Taking a little magic out of the whole owning DVC right now. I am giving it until the two month mark. Not sure if this is a great idea or not.
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Old 03-23-2013, 06:58 AM   #10
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My guy tells me you will be ok... Just to relieve your stress why don't you book a refundable room off property.
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