DVC's Old Key West Extension Ordeal

[Dean]

I bought a resale OKW wish I could be offered the extension.

Recently, if it was a desire, why didn't you buy an extended contract? It would have been much cheaper than spending $40-50 a point for an extension.

 

[motherof5]

Hard to find OKW extended, and it wouldn't be more. I bought my OKW for $72 a point if could extend for $25 still cheaper than buying direct at $151

 

[Chuck S]

If I survive until January 2042, I'll be 83. I did not purchase the extension, I have no living relatives or heirs young enough to really need the extension...and I just don't have that much faith in the miracles of modern medicine to keep me operating much past my normal shelf life.

 

[Dean]

Hard to find OKW extended, and it wouldn't be more. I bought my OKW for $72 a point if could extend for $25 still cheaper than buying direct at $151

The spread between 2042 & 2057 RTU has always been less than an extension would be. After 2057 contracts started showing up following the extension they were $7-8 pp more when the seller had paid $15 toe extend and that trend has continued. There has never been a time since both were available resale when the extension itself was cheaper than buying extended. Yes they will be more and they may be more difficult to find but not that difficult if that's what one sets out to find. And it wouldn't be $25 per point now, more in the $40 pp range I'd guess. IMO it wouldn't make any senses to buy OKW at retail for 75 pts minimum so that is not a valid comparison.

 

[KAT4DISNEY]

The spread between 2042 & 2057 RTU has always been less than an extension would be. After 2057 contracts started showing up following the extension they were $7-8 pp more when the seller had paid $15 toe extend and that trend has continued. There has never been a time since both were available resale when the extension itself was cheaper than buying extended. Yes they will be more and they may be more difficult to find but not that difficult if that's what one sets out to find. And it wouldn't be $25 per point now, more in the $40 pp range I'd guess. IMO it wouldn't make any senses to buy OKW at retail for 75 pts minimum so that is not a valid comparison.

I believe that DVC released a statement last year - towards late summer/early fall that they were ending the extension offerings so if there were any still wanting it they had xx number of days to take advantage. I've read of 1 or 2 people since who contacted DVC about extending and were told it was no longer an option. So there seems to be no range at the moment to extend. It might be a interesting to see if someone did send them an offer to pay $40/pt to extend if DVC might reconsider. But it's not something to be recommended - just wonder if DVC could make a quick 9 grand on a 230 point contract if they would.

 

[Dean]

I believe that DVC released a statement last year - towards late summer/early fall that they were ending the extension offerings so if there were any still wanting it they had xx number of days to take advantage. I've read of 1 or 2 people since who contacted DVC about extending and were told it was no longer an option. So there seems to be no range at the moment to extend. It might be a interesting to see if someone did send them an offer to pay $40/pt to extend if DVC might reconsider. But it's not something to be recommended - just wonder if DVC could make a quick 9 grand on a 230 point contract if they would.

If they extend others it'll be back around. I was more discussing the value vs cost comparisons in context.

 

[Simba's Mom]

For us, the extension was a big ordeal, fiasco. First, our guide called and asked if we wanted the extension. We said "No', but then he said that because we'd replied we'd be getting an OKW lithograph. A couple weeks later we received it. Done? Not quite! THEN, another person called us and said we needed to come in and sign, we hadn't responded to the request to extend. When I told her we had the lithograph as proof we'd responded, she said "Some people got lithographs in error, so that must be what happened to you." Since I couldn't convince her we HAD responded to our guide (we were wrong, not DVC, I guess) we had to take about an hour out of our next trip to go to SSR to sign, which our guide had never mentioned. After all these years, it's still a sore point with us.

 

[Dean]

For us, the extension was a big ordeal, fiasco. First, our guide called and asked if we wanted the extension. We said "No', but then he said that because we'd replied we'd be getting an OKW lithograph. A couple weeks later we received it. Done? Not quite! THEN, another person called us and said we needed to come in and sign, we hadn't responded to the request to extend. When I told her we had the lithograph as proof we'd responded, she said "Some people got lithographs in error, so that must be what happened to you." Since I couldn't convince her we HAD responded to our guide (we were wrong, not DVC, I guess) we had to take about an hour out of our next trip to go to SSR to sign, which our guide had never mentioned. After all these years, it's still a sore point with us.

It was a big fiasco on DVD's side also, LOL. I bet they didn't expect the underwhelming participation but their usual mania around that time is whey we lost a number of off property options including NYC, CO, Newport & possibly HI at the time.

 

[lehrsj]

My curiosity is in finding those who owned OKW before the extension but haven't extended and haven't signed off on the paperwork. What type of issues are they having (or not) and what type of communication are they having from DVD.

We purchased in 93. We didn’t extend and we haven’t signed the paperwork. We have had no issues and no communication from DVC on it for years.

 

[DVC4FUN]

I took the extension when first offered at $15. But I only own 50 OKW points so $750 wasn't really a big deal to gain another 15 years at $1 pp. Most of the DVC points I've bought have been in the range of $2 pp over life of contract so I didn't think it so bad a deal. And this guaranteed me 15 more years of cheap points per night rooms at OKW vs. newer DVC builds. And now looking back with the current skyrocketed direct prices I'm glad I extended.

Also I'll be 64 in 2042 so I hope to still have another 10 years or so of disney visits to my life.

 

[jodifla]

We extended because of our son's interest. Looks like a good deal now with rhe price of DVC points.

 

[minorthr]

We bought a 50 point extended contract via resale last year. Other then the contract from the resale company there is nothing on the deed or anywhere else that shows the extension.

 

[thelionqueen]

We bought a 50 point extended contract via resale last year. Other then the contract from the resale company there is nothing on the deed or anywhere else that shows the extension.

Wouldn't it show on your dashboard or something? In the paperwork I got (buying extended via resale) it specifically shows on the contract the expiration date and percentage of what building, etc. I'm curious as to where this would be.

 

[KAT4DISNEY]

We bought a 50 point extended contract via resale last year. Other then the contract from the resale company there is nothing on the deed or anywhere else that shows the extension.

Just a guess but since the land lease of OKW was extended for all there would be a quit claim deed associated with it that deeded the property back to Disney in 2042 if the previous owner did not pay for the extension. At least that's how I think it would show. Since that isn't associated with the property (you'd have to look back on the trail from previous owner maybe) then it's with you until 2057 and not Disney.

 

[condorthb]

We bought a 150 point extended contract last May via resale.

 

[Mazz519]

buying a extension never interested me years ago when it first came out... would definitely not pay 40 dollars a point now to extend.... thats just crazy

 

[Dean]

buying a extension never interested me years ago when it first came out... would definitely not pay 40 dollars a point now to extend.... thats just crazy

At the time even $15 pp was just as crazy IMO

 

[Wakey]

I read a detailed account a few years back, maybe on here, of some guy who like s poster above was being asked to sign a document waiving the extension or extend every time he checked in. He said he was being harassed. This guy wasn’t having any of it, and got his lawyer involved who told them he had bought his interest, he doesn’t have to sign anything, and to leave their client alone. He says they then totally stopped bothering him. I’d like to hear what (if anything) has happened since.
I’d be personally reluctant to sign anything because of the suggestions it’s extended anyway by default.

 

[PBB]

We never signed the extension. It was poorly done and it never made sense. This was the beginning of the end for Jim Lewis. In fact, it made us view DVC in a completely different light. The strong arm tactics were disgusting. They delivered letters to our sons who were using our points while on vacation. The one thing they could never explain was properly was ......Why should we sign a Quit Claim Deed? A Quit Claim Deed is a legal instrument that transfers our legal interest in the property. These instruments are used to add/remove people from Deeds or Titles. A good example is a person gets a divorce and one spouse keeps the house and the other goes off with a new BF or Secretary. You would use the Quit Claim Deed to remove their name from the title.

Just because DVD/DVC put a form in front of us and says here sign this doesn’t mean I am going to do it. We have no expectations past 2042. We just hated being bullied by DVC.

 

[ILoveMyDVC]

We never signed the extension. It was poorly done and it never made sense. This was the beginning of the end for Jim Lewis. In fact, it made us view DVC in a completely different light. The strong arm tactics were disgusting. They delivered letters to our sons who were using our points while on vacation. The one thing they could never explain was properly was ......Why should we sign a Quit Claim Deed? A Quit Claim Deed is a legal instrument that transfers our legal interest in the property. These instruments are used to add/remove people from Deeds or Titles. A good example is a person gets a divorce and one spouse keeps the house and the other goes off with a new BF or Secretary. You would use the Quit Claim Deed to remove their name from the title.

Just because DVD/DVC put a form in front of us and says here sign this doesn’t mean I am going to do it. We have no expectations past 2042. We just hated being bullied by DVC.

Re: Quit Claim Deed - does the other party have to sign it? What if they refuse?