Anyone extending their OKW contract?

[wiltonken]

Just a thought. If someone opts for the 15 year extension.

Does that give Disney the right to alter (increase) the point grid from the original commitment total grid of 15 years ago?

Will there be 2 OKW point charts?

 

[salmoneous]

You guys are assuming that Disney will allow the 42's to pass ROFR. I think they will ROFR them all and slap on the extention thus forcing the conversion as families exit the system (and making a nice profit in the process).

Everytime Disney sells somebody a ROFR'ed contract they are getting a much smaller profit than selling them new construction. I don't think they want to be in that business if they can avoid it.

And they are going to have to let some contracts through ROFR - if they start buying them all, sellers will just keep uping the price until they stop.

 

[OlderMan]

wiltonken:

If Disney "ups" one category of rooms then they MUST "lower" another such that total points required for the Resort for the year remain the same...

This doesn't preclude "tweaking" of the days/weeks of the various seasons.

 

[wiltonken]

OLDERMAN,

My point is if you extend are you entering into a new contract and therefore can they increase the point chart from the original of 15 years ago?

 

[Stevegriswold]

OKW is selling on the resale market for $78-$82 per point.

DVC will begin selling their new 2057 contracts for $94 or $96.

Yeah, I just bought OKW last week on resale (seller paid all closing costs) for $75 a point 60 points a year Aug UY.

I just saw two more OKW resales get approved at $73 and $72 a point on these boards.

So I can't see any reason to pay $15 to $25 more to extend an OKW contract, when I can buy Animal Kingdom at the TimeShare Store (resale) today for $96 a point expires in 2057. Or I can buy SSR today resale for $80 - $83 a point, expires 2054.

Unless you think you are going to really, really, really love OKW 35 years from now and want to go there for 15 more years, I think there are far more newer DVC's available right now for 50 years for much less.


Steve

 

[AnneMT]

Is Disney actually really asking people if they want to extend their OKW contracts? Or is this just another one of those surveys?

I certainly would would extend it, if I could afford it....

Who says I have to stop having fun at Disney when I'm 77??!!

Anne

 

[OlderMan]

Wiltonken,

It is my understanding that there are a 'fixed' number of points at each resort.

As such, the only way that DVD can increase any one category (season, size of villa, view, etc) is if they decrease another such that the total number of points (approximately) for each year remains the same.

If I'm mistaken, I'm sure someone will correct me.

 

[wiltonken]

OLDERMAN,
What you say is correct for the original contract. If this is a new contract they could, for example, increase the point chart by 10% for each category. The increase would be in proportion to the overall point chart because everything would be increased by the same percent.

 

[dianeschlicht]

OLDERMAN,

My point is if you extend are you entering into a new contract and therefore can they increase the point chart from the original of 15 years ago?

No, they can't change what already exists, and since OKW is a "sold out" resort, the number of points can not change. Added years does not mean added member points.

 

[OlderMan]

Ditto, to what diane said, above!

 

[CarolAnnC]

Agree with the above posters. The only time points can be added was such as in the case of the new buildings that went up over by Hospitality House a few years back. They were then able to sell additional OKW points. In this case,, they will just be selling existing OKW points but with longer years of use.

 

[zorro77]

Well we have 755 points and we will not be young enough to enjoy it in 2043. We are leaving the decision up to our daughter and son-in-law. They will be 60 that year and it will be up to them to decided if they think it will be of value or still for resale. I see us as a family easily going to 2042 but is the money worth it for resale or for use.

 

[MELSMICE]

Is Disney actually really asking people if they want to extend their OKW contracts? Or is this just another one of those surveys?

I certainly would would extend it, if I could afford it....

Who says I have to stop having fun at Disney when I'm 77??!!

Anne

They recently sent information about OKW owners extending their contracts an additional $15 years.

More information is to follow.

 

[wiltonken]

I hope you guys are right.
I also heard a rumor that they might categorize rooms at OKW by location as to nearness to the main pool. They indicated that (initially) there is no intent to have a point differential.

 

[dianeschlicht]

I hope you guys are right.
I also heard a rumor that they might categorize rooms at OKW by location as to nearness to the main pool. They indicated that (initially) there is no intent to have a point differential.

That is true.

 

[bridgemanva]

Recieved official DVC/OKW extension package today it includes a postcard to mail back to our guide and respond with our decision. Details are as prviously posted $15/point if we accept offer before 2/29/08. $25/point after that.

 

[DVC92]

I also received the extension packet. It was lacking in details and was not what I expected. It was nothing more than a slick sales brochure that was made in China, obviously some time ago. It came from DVC, not DVD. Hopefully, the cost of such a frivolous package is not being funded by us.

The only information contained in the advertisement was your individualized cost of extension and which Vacation Club Guide you will be contacted by if you choose to extend. There was no information concerning 1) the actual deed that needs to be returned to DVD if you choose not to extend, 2) tiered assessments regarding reserves for 2042 vs. 2057 contracts, and 3) the $30 allowance for wasting your time getting the deed notarized and witnessed.

Earlier this week , I spoke with DVC staff in Jim Lewis's Office in response to a letter I had sent. They appeared to be totally unaware of the fact that the early contracts for OKW did not include language giving DVC/DVD the authority to extend the Ground Lease. They also stated that less than half of members surveyed demonstrated interest in any extension.

This is a very "unique" marketing stategy. I personally view Disney as being the primary beneficiary of this real estate transaction and seriously question the legality of it.

 

[Margie J]

No for me. I'll be way too old plus I have AKV points to see me through.

 

[Shadeaux]

This is a very "unique" marketing stategy. I personally view Disney as being the primary beneficiary of this real estate transaction and seriously question the legality of it.

I haven't posted much on this, but I've also been questioning the legality of what Disney is doing. Our contract, from '94, has a specific end date....no mention of the possibility of an extension.

When members who decide not to extend and sign over those 15 years to Disney, does this mean Disney owns part of those contracts? If so, are they obligated to pay for part of the yearly maintenance fees?

DVC92....check your private messages

 

[dianeschlicht]

I haven't posted much on this, but I've also been questioning the legality of what Disney is doing. Our contract, from '94, has a specific end date....no mention of the possibility of an extension.

When members who decide not to extend and sign over those 15 years to Disney, does this mean Disney owns part of those contracts? If so, are they obligated to pay for part of the yearly maintenance fees?

DVC92....check your private messages

Not until 2042!