OKW & Resale

[maggiegirl]

If someone buys an OKW contract on the resale market and that this contract expires in 2042 will DVC offer the extension to 2057 to the new contract owner?

 

[z28wiz]

Yes it's possible. I had spoken to my guide about doing that and what you have to do is deed it back to dvc and they re issue you a new deed. You do have to pay 25 per point I believe. I never ended up doing that because I flipped the contracts, the market spiked right after I bought it and I made a nice profit on those contracts.

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[DVC Doctor]

I could never justify the added expense for something I may not be around to enjoy.

 

[dundey]

So its $25/ point to extend it for 15 years?

I'm not sure that is a smart investment, and I agree with you DVC Dr! I guess my kids could enjoy it, but to me it would make more sense to buy SSR or BLT on the resale side if you're looking for more time than 2042.

 

[maggiegirl]

So its $25/ point to extend it for 15 years? I'm not sure that is a smart investment, and I agree with you DVC Dr! I guess my kids could enjoy it, but to me it would make more sense to buy SSR or BLT on the resale side if you're looking for more time than 2042.

Well, $25 pp om a 200 point contract would be $5,000.00. Not a bad investment for an additional 15 years that.... You are right would totally let my son enjoy

 

[Lorilais_mommie]

Yes it's possible. I had spoken to my guide about doing that and what you have to do is deed it back to dvc and they re issue you a new deed. You do have to pay 25 per point I believe. I never ended up doing that because I flipped the contracts, the market spiked right after I bought it and I made a nice profit on those contracts. Sent from my iPhone using DISBoards

Of you do this is the contract consider resale or direct?

Are you still under the restrictions of resale?

 

[Noelle]

Of you do this is the contract consider resale or direct?

Are you still under the restrictions of resale?

I am curious about this as well. For a smaller contract, $4000 to make my points be considered 'direct' might be worth it.

 

[RobDoc]

Of you do this is the contract consider resale or direct?

Are you still under the restrictions of resale?

The use of the points until 1/31/42 would still be restricted as a resale purchase, but I'd expect that 2/1/42 - 1/31/57 might be considered a direct purchase (but would suggest asking that before adding the extension).

You can also purchase the extended contracts via resale (there have been quite a few on the market) and via direct purchase as all OKW purchases thru DVC will already have the extension - which would have all aspects of a direct purchase.

 

[z28wiz]

Of you do this is the contract consider resale or direct? Are you still under the restrictions of resale?

The guide was not sure I was going to try booking a disney collection resort after I did that but I never completed the transaction.

Sent from my iPhone using DISBoards

 

[Dee77]

I purchased an OKW resale contract in January and was given the opportunity to add the extra years for $25 per point. We chose to do that just to make it more valuable if we need to sell the contract in a few years (but I doubt that will be the case, I would likely sell our BLT ones first) Anyway, I thought the same thing that the extra years will be not have the restrictions but have since been told that they will have the resale restrictions. You live and you learn, I am glad I didn't make the choice with the intention of wanting to use them for ABD or cruises etc.

Also- we were told that the option to pay for the extra years was given to us because the original owners never sent in their quit deed form so I am not sure if that will affect whether or not all OKW 2042 resales are being given that option.

All the best and good luck with your decisions!!

 

[nabi]

I think it was Dean that mentioned some possibilities of what may occur at the resort in Feb 2042, and I didn't like those possibilities. One in particular was close down some of the buildings that would account for the unsold points for extension, and limit the activities/ other offerings there. Not good.

 

[dundey]

Still a long was from 2042, but it will be interesting to see what happens as we get closer. Really anyone's guess and things can also change quite a bit in 28 years. Hope I'm around to see what happens!

 

[sajetto]

This is interesting. My husband and I have been waiting forever for a 2057 contract with our UY to crop up and have had no such luck. This has prompted me to want to call my guide for more information. I thought that after that first offer they made to the original owners, that it would be the only opportunity to extend other than buying direct through Disney.

 

[chalee94]

I thought that after that first offer they made to the original owners, that it would be the only opportunity to extend other than buying direct through Disney.

it gives disney the opportunity to take your money now and not give you anything for nearly 30 years. if they can find a way to do it legally, i'm sure they will be happy to do it...

 

[sajetto]

it gives disney the opportunity to take your money now and not give you anything for nearly 30 years. if they can find a way to do it legally, i'm sure they will be happy to do it...

Yes, I understand what you're saying and I remember OKW owners lamenting over this when the offer came up a few years ago. However for a couple in their early 30s with very young children it is a bit more appealing for us. God willing, we will be around a while longer than most of the original buyers from the early 90s.

 

[Goosey515]

I purchased an OKW resale contract in January and was given the opportunity to add the extra years for $25 per point. We chose to do that just to make it more valuable if we need to sell the contract in a few years (but I doubt that will be the case, I would likely sell our BLT ones first) Anyway, I thought the same thing that the extra years will be not have the restrictions but have since been told that they will have the resale restrictions. You live and you learn, I am glad I didn't make the choice with the intention of wanting to use them for ABD or cruises etc.

Also- we were told that the option to pay for the extra years was given to us because the original owners never sent in their quit deed form so I am not sure if that will affect whether or not all OKW 2042 resales are being given that option.

All the best and good luck with your decisions!!

When did you get the opportunity for the extension? Did it come before or during the ROFT process?