DVC Resale: Seller Banking Requests
Understanding DVC Resale: The Importance of Seller Banking Requests
When entering the world of Disney Vacation Club (DVC) resale, it’s essential for buyers to be aware of banking deadlines that can significantly impact their vacation plans. Seller Banking Requests become particularly relevant when buyers are approaching a banking deadline, as they want to ensure the ability to use points in the next Use Year. To facilitate this process, our contracts include a provision allowing buyers to request sellers to bank points on their behalf.
What Are Seller Banking Requests?
Once the purchase agreement is signed, the seller commits to not making any new reservations or transferring points. However, should the buyer request it, the seller is permitted to bank the points. This step, while optional, proves to be extremely beneficial when time is of the essence; otherwise, points may expire without being utilized. In fact, according to DVC market statistics, over 15% of points go unused annually due to banking deadline oversights.
When to Make a Banking Request
While making a banking request is not mandatory, we recommend doing so only after both parties have signed the contract and the buyer has submitted their deposit. This practice safeguards against any potential miscommunications and ensures the transaction is progressing smoothly. In rare instances, sellers may seek confirmation that the deposit has been received or that the 10-day rescission period has lapsed. This precaution helps to confirm that the sale is moving forward before they take any action regarding the points.
Assessing Your Need for a Banking Request
For many buyers, the banking request may not be necessary at all. If the banking deadline is more than 30 days after the estimated closing date, you will have the ability to bank the points yourself once the ownership has been successfully transferred. This gives buyers sufficient time to manage their points without feeling rushed.
How We Can Assist You
If you find yourself uncertain about whether the banking deadline impacts your contract, our expert team is here to assist. With over 10 years of experience in DVC transactions, we can confirm crucial dates with Disney, check the eligibility of points for banking, and facilitate coordination with the seller when needed. This is particularly useful for contracts that include prior-year points or a full balance that remains available.
Why Timing Matters in DVC Resale Transactions
It is vital to understand that timing plays a crucial role in DVC ownership, especially when it comes to banking points. Points that are not banked before the deadline will expire, leading to potential losses for buyers. Therefore, it’s essential to have a clear understanding of your banking deadlines and to act promptly when approaching them. Remember, timely banking can save you hundreds of dollars in unused points.
Real-World Scenarios: Navigating Banking Requests
- Scenario 1: A buyer is closing on a contract with a banking deadline just a week after the closing date. In this case, a banking request would be prudent to ensure that points do not go to waste.
- Scenario 2: A buyer has more than 30 days before their banking deadline. They may choose to forgo the banking request and manage the points themselves.
Your Commitment to Maximizing Point Usage
At DVC Sales, we are dedicated to ensuring our clients don’t lose out on any points due to timing issues. Our team is committed to providing timely and accurate information to facilitate a smooth transaction process. If you have questions or need assistance regarding banking requests, we are just a message away. Don’t hesitate to reach out!
Conclusion
Understanding and managing banking requests in the DVC resale market can significantly enhance your vacation experience. By staying informed and proactive, you can fully leverage your DVC points and enjoy unforgettable Disney vacations.
