"Hold Status"

[tacomaranch]

As you know we were ROFR. Expected, but still sad. So it goes~

I am now looking again and have put a very quick deadline on this. What are Holding points? What can I do with them if I get a contract with Hold points on them? Can I transfer or trade them? I won't be able to use them but don't want to buy a contract with these points if I can't do something with them.

Thanks so much, April

 

[spiceycat]

can't transfer or trade them - you can rent them.

they are points that must be used within 60 days of your arrival. So it has to be a last minute reservation only. They expire when the current use year expires.

so if they good for next year then you are fine - if they stop this year - forget - most of the villas at the DVC resorts are long gone.

 

[MILLZ]

they are points that must be used within 60 days of your arrival. So it has to be a last minute reservation only.


thats the big kicker

 

[tacomaranch]

Oh fudgesticks, they have to be used by March 1, anyone need points. Kidding.

 

[tacomaranch]

Do they have to be rented at our home resort? Can they just be rented and the person do with them what they will? Or do they have to be used at OKW and before March 1? I am confused.

Thanks, April

 

[dianeschlicht]

They can be used at any DVC resort that has availability within 60 days. Those points would need to be used between December 31 and February 28 of 2007.

 

[DebbieB]

Do they have to be rented at our home resort? Can they just be rented and the person do with them what they will? Or do they have to be used at OKW and before March 1? I am confused.

Thanks, April

You would actually be renting a reservation. You would have to make the reservation in their name, just like you were making a reservation for yourself.

 

[tacomaranch]

So it can be at any resort, but in my name. Thank you I think I get it.

April

 

[DebbieB]

So it can be at any resort, but in my name. Thank you I think I get it.

April

No, you make the reservation in the renter's name. But the rules would be the same as if you were making the reservation for yourself.

 

[CarolMN]

Do a search on renting and read as many of the relevant threads as you can. Renting is not as easy as you might think - especially for a new member who may not understand all of the nuances of owning DVC

My advice is to consider the holding points to be without value for the purpose of making an offer on thatparticular contract. Even if the buying process goes quickly and smoothly, it is unlikely that you will close soon enough to be able to use those points before they expire, anyway.

 

[calypso*a*go-go]

Plus, the other problem you might run into is finding a renter that is pretty much willing to pay the entire cost upfront as that would be the best thing to do to protect yourself if they cancel on you. You won't have very much time to try and re-rent the points again. Also, just because you make the offer and it gets past ROFR, you really don't know for sure how long it will take to close escrow. With all the holidays coming up, you might not even be in the DVC system until January and that really doesn't give you much time to rent those points.