Interested in buying OKW

[sajetto]

What is the current cost per point?

 

[mlayton14]

I would think that "a contract is a contract" regardless of who you purchased from ... so my guess would be that the answer would be "yes". That is .. unless the owner has already responded "no" to the offer..

Hopefully an OKW member will chime in as to whether it is too late or not.

 

[Chuck S]

Evidently the OP edited their post right after they posted...

I think the current price of OKW through DVC is $96 per point, all OKW points bought through Disney include the 15 year extension.

 

[sajetto]

Evidently the OP edited their post right after they posted...

I think the current price of OKW through DVC is $96 per point, all OKW points bought through Disney include the 15 year extension.

I did in fact. I figured the answer would be an automatic no so I figured I was wasting my time by posing the question. Did I retract it too soon? Would that actually be a possiblity?

 

[sajetto]

Here is the question again:


Can I buy a resale OKW contract and get the 10 year extension or is it only availabe to long standing members?

 

[Chuck S]

Well, in truth, I'm not sure about adding the extension to a resale. My understanding is that the $15pp offer expires, and increases to $25pp at the end of February, and that all contracts where the extenson was neither accepted or declined by the member will have a special assessment of $25pp and be extended automatically.

I wonder, if after that time, if maybe DVC will simply exercise ROFR on all 2042 OKW contracts and then resell them with the extension, this might be a question for your guide.

 

[sajetto]

Chuck that is valuable and logical information so I'm glad I posed the question again. I wasn't aware that they were increasing it to $25 pp but I'm glad I know now. If that's the case it certainly wouldn't provide any cost savings.

I WILL in fact post the question to my guide, Jim McCoy, and be interested to hear the response.

 

[delmar411]

you can buy OKW straight from DVC and they are the extended years and they are $96/pp but going up to $106 soon...which seems excessive but maybe they will offer an incentive then? We are going to go with OKW w/ the extension and we are getting extra points...not 100% sure what they are yet (banked or bonus) to use this year.

 

[sajetto]

you can buy OKW straight from DVC and they are the extended years and they are $96/pp but going up to $106 soon...which seems excessive

Wow, excessive is right. At that price I'd just add on more AKV points so that I had enough to book a GV. There is no way I'd give $106 without any incentive for the oldest DVC resort no matter how pretty it is. I wonder how many will buy in at that price?

 

[Cruelladeville]

As an old-time buyer of OKW, I will be dead by the time the extra years arrive, so do I sell OKW, or keep it, and Disney will automatically charge me $25 for the points? I'm not happy in either case. I like OKW, but I do NOT like the automatic assessment.

 

[sajetto]

I wouldn't like that either cruella. Seems like the owner should have the right to choose whether or not they wish to take on the extra expense of the extra years.

 

[lizanne]

As an old-time buyer of OKW, I will be dead by the time the extra years arrive, so do I sell OKW, or keep it, and Disney will automatically charge me $25 for the points? I'm not happy in either case. I like OKW, but I do NOT like the automatic assessment.

I hope you understand that you have the option of saying NO to the extra years by February 29th and you will not be assessed. Your contract will end at the original date.

I too will be in my 90's (hopefully not dead) by the time our contract ends and I see no need to extend as my children will be in their sixties. Who knows what Disney will be like at that time.

 

[Chuck S]

Yes, Cruella, just say "No."

I'll be 84 in 2042, so I to have opted not to extend my membership. I was temped to extend some of the add-ons, just in case I was healthy and well. Given medical technology, who knows, maybe I will be, but then again, there's just too many unknowns...so I opted not to extend anything.

Be sure to let them know by the end of February.

 

[Cruelladeville]

What happens if they don't hear from you? In other words, if I haven't contacted Disney to extend my contract, would they assume I have said no, or do you have to contact them directly?

 

[rsinj]

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[rsinj]

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[dianeschlicht]

All contracts CAN be extended through Disney, so yes, Sajetto, you can extend also, but the key to the $10 per point versus $25 per point cost of the extention is the February 29th date. If you buy resale and do not close before that date in time to let DVD know you want the extention, your price to extend would be $25/point. My suggestion would be to have the person selling extend before the deadline and pay them before hand for it.

Cruella, you will NOT be assessed the extra 15 years if you sign them back to Disney. I have not yet gotten my paperwork for it either, but I have no doubt it will happen eventually.

 

[castleri]

All contracts CAN be extended through Disney, so yes, Sajetto, you can extend also, but the key to the $10 per point versus $25 per point cost of the extention is the February 29th date. If you buy resale and do not close before that date in time to let DVD know you want the extention, your price to extend would be $25/point. My suggestion would be to have the person selling extend before the deadline and pay them before hand for it.

Cruella, you will NOT be assessed the extra 15 years if you sign them back to Disney. I have not yet gotten my paperwork for it either, but I have no doubt it will happen eventually.

I think it is $15 versus $25 to extend before March 1 for a savings of $10 per point if you wish to do it. I don't klnow if they can legally charge you the $25 a point if you don't answer by then but Jim Lewis and the attorney standing next to him after the Sept meeting where they extended the contracts told me that those who do not reply may have the use of their points restricited the same as those who are not up to date on dues or loan payments. He did not say they would just that it was a possibility. My question to him was "what will happen if someone choses for whatever reason to not reply and opt in or out?" It seems they could just say okay 2042 is the last time these contracts can be used but apparently there is some real estate law that requires the opting in or out. He did say the original plan was to have those who wanted to extend respond and then those who didn't would be considered to have not extended but that Florida law required everyone to pick an option.

If you have not gotten the original opt in or out postcard maybe you should call your guide.

 

[dianeschlicht]

I think it is $15 versus $25 to extend before March 1 for a savings of $10 per point if you wish to do it.

You're right. The above was my "wishful thinking". I might have been inclined to extend one contract at $10 a point, but not for $15 or $25!

 

[nunzia]

What happens if they don't hear from you? In other words, if I haven't contacted Disney to extend my contract, would they assume I have said no, or do you have to contact them directly?

What happens if WE don't hear from THEM?
I closed on an OKW resale at the end of December. The contract had 2042 as expiration, which is fine with me as I'm part of the 'old' club. But how do I know if the previous owners had denied the extension, or responded at all? I haven't received ANYTHING from Disney by mail...I was able to get into the system by an email from my guide with the activation code and then by calling MS to get my number.