I think it would be possible that whatever “value” of points are in the contract at the time of the sale, the seller can be paid, at closing, all the funds from escrow MINUS the value of those points. That remaining money is held until the points transfer is confirmed.
In this way, the seller gets SOME of their money sooner, but won’t see all of it.
In my case, with 180 points due me (120 from the next use year which could be borrowed, and 60 points from the current use year), they could have paid the seller the full amount MINUS $3600. The remaining $3600 they would receive after the points transfer was done. So, since I was missing 120 points, they could then just pay the seller for the 60 points, but hold back the $2400 “value” of the points.
I recently sold a small contract. The real issue is how long it takes for Disney to move the points from seller to buyer. I had my check and had deposited it and the points remained on my dashboard for weeks! If I had been an unscrupulous sort, I could have done something similar.
I’m not privy to the details…but does that mean that they were able to go back to the original seller, and the points were sitting there in their account still? Makes sense, if so, because they can just transfer them back.
In my case, it was a bit different in that the points were apparently already “exchanged” for some external booking system (such as RCI points or whatever) and so couldn’t be returned.
I can’t see DVC doing that anytime soon. DVC will sell you resorts at full price & they make it incredibly easy and SAFE to buy through them…I think DVC take the same stance as with rentals - it’s an outside transaction that they will assume no liability. Basically buyer beware.
Finishing up this fiasco. Today, after several months, I have the points in my account. We ended up with a bonus 5 points in the end.
An interesting thing… apparently Disney changed their procedure a few month back, and all points transfers must take place with both parties on the line at the same time. This meant coordinating a time for this to happen. The gentlemen from whom the points were coming was extremely helpful and nice about it all. He called Disney, waited on hold, and then when finally reached a CM, made a three way call with me. Once on the call, the entire process took about 4 minutes.
The downside to this change is that it eliminates any kind of anomonity to the process…which probably isn’t a problem for most transfers.
Anyhow, glad to finally be done with this. Now we can just focus on spending our points!
I’m not a fan of unnecessary phone calls with Disney! But I guess if it reduces situations like yours, it might be necessary. (Not sure if it would have prevented your specific issue but I’m sure they have a reason.)
Ah I was understanding @ryan1’s point to be that it would have been necessary for any resale transaction as well. Makes sense that they have this requirement for a transfer specifically.
Yeah. Well, this is based on what the guy from The DVC Store said…when they tried to take care of the transfer, Disney wouldn’t allow it without me being on the line as well. The DVC Store guy said this is a change made in the last 3 months or so.
Now, it could be he just didn’t have a case before that required it…but I think they have dealt with these kind of transfers before…they’ve mentioned they’ve done a lot of point transfers in the past.
In either case, I can see the need for the rule. Otherwise it would become easily possible for someone to transfer points from anyone’s account if they happen to have their membership information. This just makes that a bit harder.
The 125 transferred points were not showing up as bankable, so I have to call to have them manually transfer the points. That took about 40 minutes. But after ending the call, I realized that NONE of the points are listed as available. So, I think I will have to call again.
Okay. I called Disney DVC Member Services this morning, and found out this is a case of a confusing interface, not really an issue.
So, I have 60 points for June '22 use year. I expected to see that those points are available, because I can book on those points NOW at 11 months out, etc. BUT, the interface only shows points “available” for the CURRENT use year. So, while I technically have 60 points available book a trip in, say, July 2022, they don’t consider those as “available” on the website since those are in the next use year.
However, if I go into the system to actually book a trip, it DOES allow me to use those 60 points for a trip in July 2022.
So, knowing that, I think I’m now “fully functional”. Now I just have to wait until January to book my December trip.
