Extending OKW at closing?

[hfehr1s]

We were originally looking only at Saratoga for our resale purchase b/c of the number of points for our money and the longer ending date. But, recently i've been looking at Old Key West as well. I asked our broker if it was possible to extend a contract after purchase through Disney and it sounds like it is possible at closing. Has anyone ever done this and what is the price for the extension?

 

[Deb & Bill]

We were originally looking only at Saratoga for our resale purchase b/c of the number of points for our money and the longer ending date. But, recently i've been looking at Old Key West as well. I asked our broker if it was possible to extend a contract after purchase through Disney and it sounds like it is possible at closing. Has anyone ever done this and what is the price for the extension?

When they first offered the extension it was $15 a point. Then it increased to $20 a point. I think it is now $25 a point.

 

[RobDoc]

You might want to look for an OKW contract that already has the extension as that will likely be less than $25 per point more than one without the extension. All contracts sold thru DVC have the extension, but that will cost even more than purchasing the extension yourself - but many (myself included) felt that $15 per point was too much for something that we could not use until 2042 let alone paying the current extension rate of $25 per point. The extension was voted by the BOD in September, 2007 and a "discounted" rate of $15 was offered to all owners at that time thru February, 2008. In March, 2008 it rose to $20 per point and since has gone to $25 per point. $25 was the amount voted on by the board - so it is unlikely to rise any higher without another vote.

 

[Dean]

The $$$ didn't make sense at $15 a point, much less at 25. If you want longer and are set on OKW, finding an extended contract will be best. Value wise, SSR and AKV will be better for a longer contract.

 

[DougEMG]

The other bonus with buying an extended contract at OKW resale is that it is far less likely to get ROFD. Right now a lot, but not all, OKW contracts are being ROFD.