For the first few months it was $15 a point. Then it increased to $20 a point for the rest of the year. Final cost and current price was $25 a point. Not worth it for us. We turned it down. We'll be 89 and 92 in 2042. If you turned it down, you returned a document that they provided with your notarized signatures. They reimbursed OKW owners $10 on their dues for the cost of the notary.
Has anyone been able to extend that had previously signed over the last 15 years? I did see a report of a couple of situations where they were able to extend very late but it appeared that in both cases the extension had not been declined, just ignored.
So just so I understand. Using a 100 point example: for $1500-$2500 on a 100 point contract you COULD have extended OKW from 2042 until 2057? by the end of this month that means 2018-2042 is 24 years; 2018 -2057 is 39 years. If that example above was the case (especially at 15 a point) that sounds like a deal I would have taken! Of course hindsight is always 20/20... Anyone here get that offer and accept or decline? I'd be curious to understand your reasoning.
The thing you have to remember is that most members who were asked to extend only paid from $50 to $70 a point when they purchased OKW. And many were older like us. The extra 15 years just wasn't worth it then.
The true value at the time was between $5 & $8 per point, $15 today would be more reasonable.
It is my opinion that that member will have an extended contract without paying for it though they may continue to bother him as the end nears. Basically they extended the ground lease, the membership is tied to the ground lease and they threatened a special assessment which they don't legally or contractually have the right to do for this purpose IMO. I would have been that member had I still owned at OKW just on principle.
I see you said likely. I agree that DVC isn't for everyone but it works for me. Yes, I cannot plan out that far as I travel a lot for work, but that doesn't mean DVC is a bad choice for me. I live in California and go to WDW 2-3 times a year. Having my room pre-paid with a DVC discounted AP, is very cost-effective for me.
I know some own already, plan shorter periods and make it work but let me be more specific. IMO no one should buy DVC going forward if the routine plan is to consistently reserve well after the 7 month window. That's not the same as saying some can't make it work or one should sell if they are doing so though often DVC isn't going to work for them. It's just too risky to take the chance. The reason I said likely rather than an absolute is because there are some very special circumstances. Maybe one isn't a planner but owning they move more toward planning further out, maybe they expect their ability to plan to improve in a few years or they plan to use only for a portion of their stays so if they can't get one they can use for another. Likely the best one is where the pass discount alone makes sense for a smaller contract which is a limited group.
Good luck with that one and passing ROFR. If you bought it too low, DVC will surely snap it up.
not always, never know! Ours was low and passed.
You bought GFV that had banked points?
no, didn't realize you were specifically meaning GFV, sorry!
$15 more for an extra 15 years is, in MY opinion, not just reasonable, but amazing, isn't it? If I understand what you're saying, thats just $1 for each extra year isn't it? Considering how prices have skyrocket just the last 8 months isn't that ridiculously cheap? My only regret buying my 2 contracts is that I didn't buy more sooner because the value has really shot up ; D
