made a mistake- would it be worth it to add more so soon?

[disdvcnewbie]

I'm a newbie. For 3 years I rented points and stayed in deluxe villas. Now I'd like to buy my first contract. Right now, I have a contract for 110 pts at Poly waiting on ROFR.

Before that offer was accepted, I'd jumped on a listing I saw for 100 pts at Poly, fully loaded. I emailed the offer and called the next day to put the offer in. The next day, I got an email that there was already an offer pending and it wasn't available.

However, it turns out that the offer I phoned in was for the wrong contract. It was for 100 points, but there's less than 50 pts for 2021 left. However, I think the amount per point I'd be paying is good and is less than the one I have pending ROFR.

I want to book a 2021 Halloween trip for Oct, for 5 nights in a Poly studio. There are 5 in our family, it's 2 adults and 3 small kids.

Most years, my husband doesn't go with us, but either my parents or my sister and her kids meet us down there and we get 2 studios.

I'm wondering if there's any value in the long term proceeding with the second "mistaken" contract. My thought process is that if I bought that contract, I'd be able to cover a studio for my folks or sister as well as one for myself and kids in the years when we all go.

One hiccup is that the first contract has UY as June, the "mistaken" one is Feb. We normally go in Sept/Oct when kids have a fall break so we can do the Halloween party. I'm totally perplexed if given the different use years, booking 2 adjoining studios for the same time at Poly is feasible.

One contract was not financially scary. Picking up a second one now seems borderline ridiculous. This year, it would only be my immediate family going, so I'd bank the minimal pts from contract #2, but in subsequent years, my folks/sister would likely join again, or I can see benefit once my kids are older being able to book 2 adjoining studios at Poly w/ my points. I'd have to finance the second contract, and if I juggled some other things around, would try to just get it paid off within 18 months.

Thoughts?

 

[sethschroeder]

I'm totally perplexed if given the different use years, booking 2 adjoining studios for the same time at Poly is feasible.

I know connecting studios is just a request but almost everyone get the request at this point. I am not sure if that causes an issue or not I would suspect not but someone else can comment.

Personally for me originally I thought it was no big deal to have two use years. After dealing with it to start COVID I completely changed my mind. Trying to track everything was a huge headache. I would be willing to pay extra to not deal with it and in fact I ended up selling off my two contracts in September and kept my April UY.

I don't think your travel time matters too much for your UY unless you start going between December to May timeframe which could cause some confusion/issues with keeping track of things.

Is this other contract THAT good of a price? Mind sharing what price point it is?

Edit to add:
If its a $10/point difference on 100 points that is $22.22/year for the life of the contract in order to simplify things. If its $5/point then its $11.11/year.

 

[Sandisw]

IMO, never to early to add more if you believe it fits your short term or long term goals.

 

[disdvcnewbie]

The "mistaken" contract is $142pp

 

[Where'sPiglet?]

If you can get out of the second contract without penalty, I would. It will be annoying to have two use years, especially at the same resort.

You can add on later when it feels less financially ridiculous, and maybe you decide you want to add on at a different home resort.

 

[Bruggok]

I wouldn’t mess with 2 use years and the second contract needing financing breaks the deal for me.

 

[MICKIMINI]

We juggle two UY's which does take thinking through how you will use points. I wouldn't have two UY's at the same resort though as that would drive me crazy! Our OKW's are Oct, BRV June and HHI (pending) Oct. We will only buy Oct going forward... I would think about ditching whichever contract you can back out of which hopefully is Feb as that UY won't work well with Oct/Nov trips.

 

[KAT4DISNEY]

I would suggest you let the broker know you simply made a mistake and the contract wasn't the one you thought and back out. There will be more that come up with a matching UY for you. PVB was sold with a lot of smaller contracts in the 100 pt range so don't worry about never finding it again if you do decide it makes sense to add on. Don't compound the 1st mistake by now trying to make this work which isn't idea. I know it's not that drastic but really no need to bother and mistakes do happen in offers. You also might want to give a little more consideration to owning a contract for the use of others. We own points to be able to take family but from other posts its not always the best thing to do. The need to finance to purchase the "mistake" seals my thought to back out.

 

[pinkxray]

I would just tell the broker I made a mistake and back out of the second contract.
I would wait until I could get another contract without financing and I would look for the second contract with a June use year. There seem to be plenty of June use year Poly contracts. I wouldn’t want to deal with a second use year at the same resort and it doesn’t seem like Feb. is a good use year for you if you mostly travel in fall.

 

[BruinEd03]

I'm a newbie. For 3 years I rented points and stayed in deluxe villas. Now I'd like to buy my first contract. Right now, I have a contract for 110 pts at Poly waiting on ROFR.

Before that offer was accepted, I'd jumped on a listing I saw for 100 pts at Poly, fully loaded. I emailed the offer and called the next day to put the offer in. The next day, I got an email that there was already an offer pending and it wasn't available.

However, it turns out that the offer I phoned in was for the wrong contract. It was for 100 points, but there's less than 50 pts for 2021 left. However, I think the amount per point I'd be paying is good and is less than the one I have pending ROFR.

I want to book a 2021 Halloween trip for Oct, for 5 nights in a Poly studio. There are 5 in our family, it's 2 adults and 3 small kids.

Most years, my husband doesn't go with us, but either my parents or my sister and her kids meet us down there and we get 2 studios.

I'm wondering if there's any value in the long term proceeding with the second "mistaken" contract. My thought process is that if I bought that contract, I'd be able to cover a studio for my folks or sister as well as one for myself and kids in the years when we all go.

One hiccup is that the first contract has UY as June, the "mistaken" one is Feb. We normally go in Sept/Oct when kids have a fall break so we can do the Halloween party. I'm totally perplexed if given the different use years, booking 2 adjoining studios for the same time at Poly is feasible.

One contract was not financially scary. Picking up a second one now seems borderline ridiculous. This year, it would only be my immediate family going, so I'd bank the minimal pts from contract #2, but in subsequent years, my folks/sister would likely join again, or I can see benefit once my kids are older being able to book 2 adjoining studios at Poly w/ my points. I'd have to finance the second contract, and if I juggled some other things around, would try to just get it paid off within 18 months.

Thoughts?

There are tons of contracts out there. FOMO is not a strategy for buying contracts. You have at least two issues:
1.) Finance. You can't pay cash for it, so you have to borrow cash. Even if you got a ridiculously good deal, if you have to finance, you'll be paying interest on it AND tying your money in it. It would make it less of a "deal." In addition, you would be adding stress.
2.) Different Use Years. You have two different use years, but no good reason for two different use years. You don't have a separate resort that you go for a different time period. This will probably add some complexities for you. Not that it is impossible to do if you're well organized, but you're just adding more complexity to your life.

Maybe you can overlook #1 or #2, but you have #1 AND #2. Really sounds like you're trying to force the issue. I would suggest waiting for the right contract with the number of points you want at the right Use Year. The good thing is, the longer you wait, the more money you save. Start socking away the monthly payments you would have made if you had purchased the erroneous contract. That will save you interest payments as you will have more of a downpayment ready. It also buys you time to make sure your finances are more stable. Also, with time on your side, you can present lowball offers to see if anyone will bite on it (and see if it passes ROFR).

 

[poofyo101]

The "mistaken" contract is $142pp

142 for poly is not cheap enough to sacrifice anything IMO especially with half 2021 points. I would pass all together.

 

[disdvcnewbie]

Thanks all for the reality check. I just let them know I'm passing on the mistaken contract.

I was so thrilled to be under the first contract for the 110 at Poly, owning DVC was a total dream. It's more than enough points to cover our usual trips, so I got a little greedy at the thought of having another 100 right away.

Totally not necessary and a not good use of funds right now. I think once my kids are older, if I pick up a second contract, I'd want BCV or BW if there's enough time left.

These boards are so helpful and I did a TON of lurking and research on here before I did my first Poly offer.

Thank you and happy holidays!

 

[CaliAdventurer]

It’s not worth having two use years without a purpose like at least another resort, two set trip times per year etc.

 

[Deb & Bill]

I would just tell the broker I made a mistake and back out of the second contract.
I would wait until I could get another contract without financing and I would look for the second contract with a June use year. There seem to be plenty of June use year Poly contracts. I wouldn’t want to deal with a second use year at the same resort and it doesn’t seem like Feb. is a good use year for you if you mostly travel in fall.

If your contract is already under ROFR, you may lose your deposit.

 

[KAT4DISNEY]

If your contract is already under ROFR, you may lose your deposit.

As long as it's within 10 days of signing you can rescind even on resale and the submission to ROFR does not matter.

 

[GoofyCoaster]

Having two or more use years at the same resort will generate extra work and headache for the duration of contract ownership.

We have two UYs at DIFFERENT resorts and several times we’ve almost listed the “odd man out” contract for resale.

Booking and reallocating points for a reservation is so much easier when your contracts can “communicate” with one another and pull from a shared point pool. This is essential in not leaving orphaned points behind that were banked or in holding. This year, with the shutdown and then repeated cancellations and rebookings, has magnified the problem. We have a few orphaned banked points that will expire before we can use them.

Transferring points between contracts is not as easy as some posts on the board make it sound. My attempts have not worked. I have been told by Member Services that calendar years need to match for the transaction. For example, in May 2020, MS would not transfer Dec UY 2019 points into an April UY 2020 contract. Both were current use years at the time, but MS would only transfer Dec UY 2020 (future) points into the April 2020 UY contract.

Furthermore, MS kindly advised me those transferred Dec 2020 points would acquire the “new” expiration date of the April UY contract, thereby shortening their usage lifespan by eight months. No thank you.

Different MS reps may have different understandings of transfer rules.
But it circles back to << headache>> and the value of your time.

To echo many of the previous comments to OP, back out of the second contract. The two UYs at Poly will be a problem. Why finance a known problem? 100 point poly resale contracts are ubiquitous and will probably remain so for the next couple years.

Poly is a beautiful resort. Enjoy!

 

[Sandisw]

Having two or more use years at the same resort will generate extra work and headache for the duration of contract ownership.

We have two UYs at DIFFERENT resorts and several times we’ve almost listed the “odd man out” contract for resale.

Booking and reallocating points for a reservation is so much easier when your contracts can “communicate” with one another and pull from a shared point pool. This is essential in not leaving orphaned points behind that were banked or in holding. This year, with the shutdown and then repeated cancellations and rebookings, has magnified the problem. We have a few orphaned banked points that will expire before we can use them.

Transferring points between contracts is not as easy as some posts on the board make it sound. My attempts have not worked. I have been told by Member Services that calendar years need to match for the transaction. For example, in May 2020, MS would not transfer Dec UY 2019 points into an April UY 2020 contract. Both were current use years at the time, but MS would only transfer Dec UY 2020 (future) points into the April 2020 UY contract.

Furthermore, MS kindly advised me those transferred Dec 2020 points would acquire the “new” expiration date of the April UY contract, thereby shortening their usage lifespan by eight months. No thank you.

Different MS reps may have different understandings of transfer rules.
But it circles back to << headache>> and the value of your time.

To echo many of the previous comments to OP, back out of the second contract. The two UYs at Poly will be a problem. Why finance a known problem? 100 point poly resale contracts are ubiquitous and will probably remain so for the next couple years.

Poly is a beautiful resort. Enjoy!

A couple clarifications on transfer, Points never change UY or expiration. When transferred they are good for the normal times of those points.

Any Dec UY points transferred will always be valid Dec 1st to November 30th...no matter the UY that get them.

Now, the CM was correct that you can’t transfer points from a previous UY. It is based on the UY receiving the points, not those of the points.

Once you entered your 2020 UY, you can not get 2019 UY points...but if you had transferred the Dec 2019 UY when you were still in your April 2019 UY, it would have worked and those points would be good for trips from November 30th, 2020.

Now, you can go forward, So, if you wanted, you could transfer April 2021 UY points into your Dec UY and those would be good from April1st until March 31st, 2022.

Once transferred, you can bank too. But, I do agree with you that depending on needs, two UYs is more work, and that if you have no special reason, stick with one.