OKW at $90 plus no closing?

[disney ny]

I saw on here that a couple of people seem to have gotten this deal when buying in at 100 points direct through Disney. Is there really NO closing costs? Is this deal only available if you pay out right or is it for financed too? I am trying to work out the math and see if in the long run it wouldn't near the cost of puying resale plus closing costs. Also, I have never stayed at OKW and we were looking at buying in at SSR. Is OKW so huge that we may walk for days to get to places? What is everyone's opinion of that resort. I am so torn- buying in has so many decisions to be made!!
**One more question- people seem to have gotten a member referral discount. What is this and does it benefit the current owner too?

 

[SFD998]

Buying OKW or SSR direct from Disney as opposed to resale should never work out to be a savings. What you may get from Disney is the previous years points. On resale you would have to see what the seller is offering. For example direct from Disney 100 pts @ $90/pp is $9000. On one of the resale sites I saw 150 pts @ $65/pp and that only costs $9750. If you are not a current owner I believe you must buy the minimum of 160 points. That works out to $14400. On the same resale site for $ 14720 you would get 230 points. I am also not sure if closing costs are covered for first time buyers. I am sure someone else can answer that question accurately. Even if the deal was for first time buyers to purchase only 100 pts and no closing costs if you look around for resale you could probably pay almost the same amount and get more points.

OKW is big, but not horrible. There are areas that you would be better off driving unless you like longer walks. Here is a map of OKW. As you can see some of the areas are a decent walk to the main area.

 

[dbs1228]

No closing costs when you add-on with dvc. If you are not a current member then you will pay closing costs. If you are looking at SSR or OKW then buying resale will for sure save you money but you do have a waiting game of at least (minimum) 5 weeks. If you buy through dvc you can make a reservation once the deposit is received. If you need financing I believe dvc is a bit lower interest (still really high) then TSS, and if possible you are better off finding your own financing.

I have bought BLT directly through dvc, and also bought resale SSR which saved me 4000.00. I wish I had done it in the opposite order and saved the closing costs of BLT but I had did not know enough. Keep reading this forum, I have learned a lot in the past month!

Good luck

 

[disney ny]

My fiance' just said the same thing. He was like it would never cost near resale. However, we do need financing so if resale doesn't work out we may look at dealing with Disney. But getting 150 points for 10,000 at SSR sounds better than 100 at OKW for 9,000.

 

[joandegennaro]

We just bought directly from Disney because:

A) we aren't patient people and when we decide we are ready to do something we want it done fairly quickly. With Disney it all happens within days of them recieving your deposit.

B) with this purchase we were given 2009 points with my purchase. This sets us up quite nicely for years to come with the ability to bank our points. For the next 5 years or so we should always be using banked points along with some from the current UY.

C) There were no "hidden" costs.. 100 point at $90/point = $9000.00

Closing papers had an additional amount of $ listed and when I called MA they said it had to be listed but it was the closing costs that Disney was going to pay instead of passing it on to us to pay. My total cost was just the $9000.00 which was the agreed upon figure when dealing with my guide.

 

[dbs1228]

My fiance' just said the same thing. He was like it would never cost near resale. However, we do need financing so if resale doesn't work out we may look at dealing with Disney. But getting 150 points for 10,000 at SSR sounds better than 100 at OKW for 9,000.

We paid 11000.00 for SSR 160 points which came with 2009 banked points (so double points that dvc is offering) The offer went to sellers on 2/26, deposit sent and ROFR presented to dvc 3/1, ROFR was waived 3/23 and we closed 4/1, points should be in our account by Tuesday. It was a smooth transaction. We paid 69.00 per point. I believe TSS has a company they use that offers financing at 14.99% and dvc "preferred" is 10.99% but can go as high as 14.99% if you are not preferred. Not exact amounts but it is the ball park I remember. Research, and call TSS they are great to work with also call dvc, do the math and good luck!

 

[backyardponder]

However you buy into DVC, it is a big investment. Make sure you get the home resort you want. If you can, I suggest making a trip to WDW, rent a car, and spend a couple of days visiting each of the DVC resorts. There's a ton of different reasons in various threads why folks like one resort over another, but the ultimate decision is yours and your home resort should be the one you want to be at the most.

If you do make a trip down there, stop at each resort's front desk. Ask for a map of the resort and a suggested walking tour. Spend a couple of hours looking around at each.

Good Luck.

 

[Sandisw]

I saw on here that a couple of people seem to have gotten this deal when buying in at 100 points direct through Disney. Is there really NO closing costs? Is this deal only available if you pay out right or is it for financed too? I am trying to work out the math and see if in the long run it wouldn't near the cost of puying resale plus closing costs. Also, I have never stayed at OKW and we were looking at buying in at SSR. Is OKW so huge that we may walk for days to get to places? What is everyone's opinion of that resort. I am so torn- buying in has so many decisions to be made!!
**One more question- people seem to have gotten a member referral discount. What is this and does it benefit the current owner too?

Do you own a Disney Visa? You can put your down payment or any amount of your purchase on that and get 6 months, 0% interest if you go through Disney.

We did that with our add on last year and it was enough time to delay the payments that it was like paying cash.

We ended up buying both our BLT contracts this way. I just finished paying off the contract I added on in last June just a few months ago and paid no interest on it.

 

[cush1]

No closing costs when you add-on with dvc. If you are not a current member then you will pay closing costs.

This isn't correct. We are brand new to the club and bought our membership last week at $90 OKW and no closing costs.

 

[cush1]

I saw on here that a couple of people seem to have gotten this deal when buying in at 100 points direct through Disney. Is there really NO closing costs? Is this deal only available if you pay out right or is it for financed too?

DVC pays the closing costs. It is a real closing and you own a real title, but DVC pays for it.

It is offered if you finance, too. We put 10% down.

Also, we weren't given the option to buy 100 points. The least amount was 160, but I didn't ask about a lower number either.

We are very excited about planning our first DVC trip... and using the banked 2009 points.

 

[joandegennaro]

We also bought into OKW last week but we only got 100 points. This really will be all we need for right now. I sure we too will suffer that DVC disease within a few visits. Closing costs we paid by Disney.

 

[Ln42]

We also bought into OKW last week but we only got 100 points. This really will be all we need for right now. I sure we too will suffer that DVC disease within a few visits. Closing costs we paid by Disney.

Are closing costs negotiable for new members on all properties or is this just a deal at OKW? We bought as new members at AKV and had to pay closing costs.

 

[dbs1228]

Same here! In feb. I was told there were closing costs for buyer when we bought BLT not negotiable, but I guess anything is negotiable this seems to be yet another incentive from dvc.

My advise to all research, research, research! I am very happy with our purchases but would have done things much differently if I had known in Feb what I know today.

 

[RobDoc]

Are closing costs negotiable for new members on all properties or is this just a deal at OKW? We bought as new members at AKV and had to pay closing costs.

There have not been closing costs on any of the "sold out" resorts for new purchases. This would include OKW, VB, HH, BWV, VWL, BCV and (I think) SSR. I believe that AKV, BLT and VGC would have closing costs. To my knowledge, closing costs are not negotiable thru DVC - you will either have them for a new purchase or you will not. There are no closing costs for any purchase for those who are already members - regardless of resort.

I think the reason for the "no closing costs" on the sold out resorts is that those points have already been sold by Disney and DVC has reclaimed them either by default or ROFR.

For years, there were no closing costs on purchases at any resort. Those costs began just in the last few years - maybe with AKV ?

 

[Ln42]

There have not been closing costs on any of the "sold out" resorts for new purchases. This would include OKW, VB, HH, BWV, VWL, BCV and (I think) SSR. I believe that AKV, BLT and VGC would have closing costs. To my knowledge, closing costs are not negotiable thru DVC - you will either have them for a new purchase or you will not. There are no closing costs for any purchase for those who are already members - regardless of resort.

I think the reason for the "no closing costs" on the sold out resorts is that those points have already been sold by Disney and DVC has reclaimed them either by default or ROFR.

For years, there were no closing costs on purchases at any resort. Those costs began in the last few years - maybe with AKV ?

Thank you for this great explanation. It makes total sense. I have been reading different things here and there but this completes the picture.

 

[KAT4DISNEY]

For years, there were no closing costs on purchases at any resort. Those costs began just in the last few years - maybe with AKV ?

I think the closing costs for the current resorts began either late 2008 or early 2009. It coincided more with BLT.

 

[dbs1228]

Does make complete sense, thank you. I am not sure about SSR because in Feb that is one property we were looking at and our guide said there were closing cost. But with that being said I have also realized I did not get very good information from my guide from the very beginning.

We were buying 2 (160 point) contracts and he thought we would have to pay 2 closing costs and made a point of telling us "good news" if we do BLT as an add on to VGC you will not have to pay closing, do you want to do it that way? UGH!

Our bad we should have bought BLT since we knew we wanted to buy and went home and looked into it further, got caught up in the moment. Our guide made it seem like the offers just would not be there except while still in Disney. Of course since coming home incentives have gotten better! Live and learn, cannot wait for 1st ressie in May will it ever get here?! lol

 

[SFD998]

I'm sure we too will suffer that DVC disease within a few visits.

Be careful it is very contagious. We are working on our 3rd add-on

 

[huskies90]

This isn't correct. We are brand new to the club and bought our membership last week at $90 OKW and no closing costs.

So to confirm, Disney is offering OKW to new members for $90 a point with no closing costs??? What is the minimum buy in? I am holding AKV papers at $97 per point but if I could get $90, that would be something to consider.

 

[88golf88]

So to confirm, Disney is offering OKW to new members for $90 a point with no closing costs??? What is the minimum buy in? I am holding AKV papers at $97 per point but if I could get $90, that would be something to consider.

We just bought 130 pts at OKW for $90/pt with no closing costs, as new members. I had the same AKV contract as you and this was better for us. Minimum buy in amount is 100 pts.