OKW Resale....a good value?

[pentex]

We are thinking of buying 150 extra points at OKW through a resale. The cost is $70/point plus $425 closing costs.

Financial wizards...what is your thought on this? Is it a good deal?

What is the end year of OKW...I forgot...I think it's 2042?

 

[Canigo]

what is the use year and are any pts banked or borrowed.If you have any banked pts it a good deal

 

[nuthut]

Like use year and current point availibilty, Banked, borrowed, etc.

 

[pentex]

The use year is August, which is the same use year as the 300 pts. we currently hold.

There are 4 points from 2003 left over. All 2004 points will become available on 9/1/04. None borrowed.

What do you guys think?

 

[stacy6552]

When you figure youre spending almost $3 per point to close. That makes your price $73.

If you go through Disney and rent back your first years points, you'll pay $74. But you'll have to wait for points with the same use year. But you'll deal directly with Disney. Which in itself is worth $150 to me.

Is there a wait list for OKW add-ons with your use year? If your guide says yes, see if she'll tell you if there's a waitlist for the month(if its different from yours) on the contract.
Cuz if there is, youre less likely to get the resale past ROFR.

 

[pentex]

Hi Stacy, what does it mean to "rent back" by first year's points?

 

[stacy6552]

With the exception of SSR, Disney usually offers what they call "magical beginnings." In this program, a new buyer can opt to rent their first years points back to Disney for $10/point.

This can be a great way to bring the price down to compete with resale, if the dates work for you. Last spring my neighbor went to WDW and bought points from Disney at BCV with a Dec '03 use year. Well they knew they werent going back to Disney again this year, so they rented back their points to Disney and paid $74/point for thier package.

 

[Nick@ VB+OKW]

Originally posted by stacy6552
If you go through Disney and rent back your first years points, you'll pay $74. But you'll have to wait for points with the same use year. But you'll deal directly with Disney.

Someone correct me if I am wrong..........but if you go on a waitlist for OKW pts through DVC, you will pay the current price at the time($84 now) with no discounts.

 

[rwebbirish]

That is what we were told by DVC when we stopped in last week. $84/point through DVC.

 

[JeffPort]

Make a counter offer to the seller. The $70/point seems to be on the high side if no points are presently available. There are quite a few resales for OKW on the market and new ones show up just about every day.

Here are the links to the 4 biggest resale brokers:

http://www.dvc-resales.com/
http://www.dvcbyresale.com/
http://www.reid4florida.com/disney_hot_buys.htm
http://www.atimeshare.com/disney/

Good luck with your purchase.

 

[pentex]

Exactly what Stacy said happened when I called my DVC rep....they do have points in my use year. I can either buy 150 points which will include 2003 points which I can bank to next year, at $84 per point. Or, I can "sell back" 2003's points at $10 point and buy 150 points which will start at 8/1/04 at $74 a point. No closings costs and fast closing.

I am reasonably sure this is the way we will go...just have to think about it overnight but I sure think $150 over the other price is the way to go if I can deal with Disney.

Hey, Stacy, thanks! I never knew this option even existed!

 

[stacy6552]

Anytime!

Like I said, if you can get it from Disney for only $150 more, its a no brainer. The time involved in buying resale alone is worth more than that.

btw. CONGRATS! THAT'S GREAT!