OKW special assessment info needed (15 year extention)

[TenThousandVolts]

When will the contracts officially be extended to 2057? (I am hoping after the contracts are officially extended dvc will be selling 2057 OKW points and I may want to buy some straight from DVC and wondering when I can buy)

 

[TisBit]

I believe that DVC is already selling the 2057, or at least I believe I have seen that on these boards.

Someone else might be able to correct me if I am wrong.

 

[Amy5000]

I purchased an extended contract shortly after the Sept 29th meeting where the extension was approved. They are sellling it now.

 

[RobDoc]

DVC began selling the contracts they already had immediately after the board voted to accept the extension resolution back in September. The current price for the 2057 contracts thru DVC is $96 per point - up from $92. There are no incentives- other than the extended date - at that price. I'm not aware of any extended contracts yet available on the resale market but expect that to happen within the next few months.

 

[CDNmouse]

DVC began selling the contracts they already had immediately after the board voted to accept the extension resolution back in September. The current price for the 2057 contracts thru DVC is $96 per point - up from $92. There are no incentives- other than the extended date - at that price. I'm not aware of any extended contracts yet available on the resale market but expect that to happen within the next few months.

Did the board vote to accept extensions at all of the older resorts or just OKW?

Our home resort is the Beach Club and I would accept the current extension that was offered to OKW if it was offered to me.

Gary

 

[DVC Mike]

Did the board vote to accept extensions at all of the older resorts or just OKW?

Our home resort is the Beach Club and I would accept the current extension that was offered to OKW if it was offered to me.

Gary

No, just OKW.

 

[Chuck S]

So far, it is only at OKW. No word about whether it will be offered at the other resorts.

 

[CDNmouse]

So far, it is only at OKW. No word about whether it will be offered at the other resorts.

Looks like it requires a board vote so no news until at least the next board meeting.

Any idea when that might be?

I have been tempted with another Timeshare (not DVC) and if I were to go with that then the Beach Club extension would probably not be an affordable option for us. For financial planning I guess if I knew that there was going to be a BCV extension it would make the decision on the other TS easier.

Gary

 

[Cruelladeville]

Have they officially decided to make the current owners at OKW pay to have their contracts upgraded? I know the new contracts are selling from Disney with the extra years added, but I am in the dark concerning the current members.

 

[RobDoc]

Did the board vote to accept extensions at all of the older resorts or just OKW?

Our home resort is the Beach Club and I would accept the current extension that was offered to OKW if it was offered to me.

Gary

The only extension at this time is for OKW. The resolution voted by the board was specific for that resort. Extensions for other resorts have not been proposed for vote at this time.

 

[RobDoc]

Have they officially decided to make the current owners at OKW pay to have their contracts upgraded? I know the new contracts are selling from Disney with the extra years added, but I am in the dark concerning the current members.

Yes, OKW members have been receiving information about the extension for several months now and must decide whether they want to accept (and pay for) the extension by February 29, 2008. Those declining will be sent documents to be notarized in the coming weeks or may complete it while at WDW at the sales center.
The cost per point, with an incentive, is $15 per point if done before 2/29/08 and $25 after that date. There is financing available with a no interest incentive available.

 

[TenThousandVolts]

ooooh goody- I am almost glad they are not offering developer point incentives. I really want 75 points- but I would probably stretch myself and go for 110 points if they had the same promo as akv and ssr. This is great news!

 

[ParrotBill]

This special assessment thing is ticking me off. I get mailers with financing terms but when I call my guide he has a COMPLETELY different set of terms to offer me. For example, he says that I must pay 50% down for 2 year financing even though the mailer says 10% down. The mailer says 4.95% for 2 years, he has a different story. I haven't even applied yet, this is just on initial conversations. He put me on hold 10 times trying to get more information and I offered to fax the mailer sent to me but he's not interested.

Anyone get a runaround on financing this special assessment?

 

[RobDoc]

Looks like it requires a board vote so no news until at least the next board meeting.

Any idea when that might be?

The next scheduled Board Meeting won't be until December, 2008. The vote to extend the OKW contracts was accomplished with a special Board meeting held last September 24th. Members received notice of that meeting about a month prior in late August.

It will be interesting to see if DVD decides to extend any other resorts and in what order if any. The 2 resorts to open after OKW were VB (in 1995) and HH (in 1996). The next WDW DVC resort was BWV - also in 1996. OKW opened in 1991.

 

[OKW Lover]

This special assessment thing is ticking me off. I get mailers with financing terms but when I call my guide he has a COMPLETELY different set of terms to offer me. For example, he says that I must pay 50% down for 2 year financing even though the mailer says 10% down. The mailer says 4.95% for 2 years, he has a different story. I haven't even applied yet, this is just on initial conversations. He put me on hold 10 times trying to get more information and I offered to fax the mailer sent to me but he's not interested.

Anyone get a runaround on financing this special assessment?

Your guide is completely wrong. We did the extension recently and it's 10% down. Special 0% financing for one year available until the end of January. Call back and be sure you get the right answers.

 

[Chuck S]

I wonder, for those of us declining the extension...if we decide at a later date to extend, will we be able to for $25 per point?

 

[ddave]

Talked to our guide today to turn down the extention. I asked, just for the heck of it, which way people were going on the extention. He said about 75-80% are accepting it. Now thats probably just his experience and doesn't represent all the guides but I'm thinking that those numbers are a little high.

 

[dianeschlicht]

Talked to our guide today to turn down the extention. I asked, just for the heck of it, which way people were going on the extention. He said about 75-80% are accepting it. Now thats probably just his experience and doesn't represent all the guides but I'm thinking that those numbers are a little high.

Those numbers sound very high to me. My guide gave slightly different numbers. His experience is that most are declining. It might have to do with how long the guide has been with Disney. Those with a newer guide might be younger members or at least more recent members.

 

[castleri]

Those numbers sound very high to me. My guide gave slightly different numbers. His experience is that most are declining. It might have to do with how long the guide has been with Disney. Those with a newer guide might be younger members or at least more recent members.

I agree with this - If most were accepting I doubt they would have thrown out the 0% financing offer and spent the money on addtional mailings etc.

 

[okworbust]

I received a $10 per point price - 10% down 0% financing for one year today.

Once again, if 75-80% were going for this - Disney wouldn't be offering as much.