Understanding Seller Banking Requests in DVC Resale Transactions
When buying a Disney Vacation Club (DVC) resale contract, managing the transfer of points can sometimes feel complicated, especially if you’re close to a banking deadline. One question many buyers have is, “Can I ask the seller to bank DVC points for me before ownership transfers?” This situation, known as a Seller Banking Request, is an important, often overlooked detail in the DVC resale process.
In this guide, we’ll walk you through what seller banking requests are, why they matter, and the best practices for making the most of your DVC points when purchasing through resale.
What Is a Seller Banking Request?
A Seller Banking Request happens when the buyer, facing an upcoming DVC banking deadline, asks the seller to bank their points on their behalf before the contract is officially transferred. Banking DVC points extend their usability into the next Use Year, preventing them from expiring before the new owner can use them.
This provision is included in many DVC resale contracts to help buyers maximize their points and avoid losing valuable vacation opportunities. At DVC Sales, our contracts are designed to accommodate this scenario, making the process transparent and stress-free for both parties.
Why Would a Buyer Need a Seller to Bank Points?
Timing is everything when it comes to Disney Vacation Club points. Each DVC contract is assigned a Use Year, which determines when points are allocated and when they expire. If you purchase a contract and the banking deadline is approaching before closing, you might not have access to the account in time to bank the points yourself.
For example, imagine you’re buying a contract with a March Use Year and the closing is set for mid-February. If the banking deadline is January 31, you’d need the seller to take action, or those points could be lost before you even gain access. That’s where a seller banking request comes in.
How Does the Seller Banking Request Work?
The process is straightforward but requires trust and good communication. Once both parties have signed the sales agreement and the buyer has submitted the required deposit, the buyer can request the seller to bank the available points. This step should be coordinated with your DVC resale agent to ensure everything is documented and clear.
After the agreement is signed, sellers agree not to make new reservations, borrow, or transfer points from the contract. However, banking points, when specifically requested, are allowed as an exception to help the buyer.
It’s important for buyers to wait until after the contract is fully executed and the deposit is submitted. In some cases, sellers may want additional assurance, such as confirmation of deposit receipt or that the 10-day rescission period (the legal timeframe in which a buyer can cancel the contract) has ended, before taking this step.
When Is Seller Banking Necessary?
Not every DVC resale contract will require a seller banking request. If your closing date is well before the banking deadline, you may be able to bank the points yourself after the contract transfers into your name. However, if the banking deadline is less than 30 days after the estimated closing date, it’s best to discuss a seller banking request early in the process.
For contracts that include points from a prior Use Year, or contracts with a full points balance, verifying deadlines with Disney is essential. Missing a banking deadline could result in the loss of a significant number of points—potentially affecting the value of your new contract.
Tips for Buyers and Sellers
- Communicate Early: If you think you’ll need points banked, discuss it with your agent and the seller as soon as possible.
- Request in Writing: Always submit banking requests in writing and keep confirmation from your agent or the seller.
- Verify Eligibility: Not all points are eligible to be banked. Confirm eligibility with Disney Member Services, especially for points from a previous Use Year.
- Understand Deadlines: Know the banking deadlines associated with your Use Year to avoid last-minute surprises.
- Work with Experts: A knowledgeable DVC resale team, like the professionals at DVC Sales, can guide you and coordinate with both Disney and the seller to ensure no points go unused.
Get Help with DVC Resale Banking Questions
At DVC Sales, we’re committed to helping buyers and sellers navigate every step of the resale process with confidence. Our experienced team can verify banking deadlines, check point eligibility, and coordinate all necessary steps to help you avoid losing valuable points.
If you’re not sure whether a seller banking request is needed for your transaction, or if you have questions about Use Year, banking, or transferring DVC points, don’t hesitate to reach out to our team. We’re here to ensure your Disney Vacation Club experience is seamless from start to finish.
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