Safe to buy resale DVC?

[kkacz99]

I found an OKW for $17,000+ with about 230 points existing and 230 more in Feb, with points costing $74..is this a good deal? Is it safe to do? What are the cons? how good are the existing points good for? Thanks

 

[tacomaranch]

First congrats for buying your DVC! OKW is a wonderful resort and fully mature in landscaping.

A good deal is what you think a good deal is? But all in all, yes for the price on a fully loaded contract it is smokin deal! However you will then have to pass ROFR and Disney may pick up your contract. I think the average price for OKW right now is around $77 per point. Someone please correct me if I am wrong.

As for is it safe? I bought resale from TSS and was more than happy. Not only did I get what I thought was a good deal, when you buy from a Disney owner you are also helping them out. No one really wants to sell a DVC but during hard times it is nice to know that you purchased from a person who also loves Disney and needs the $.

The points that exist are good for the UY. Ask your seller what that is. If is say July then your point are all good until next July, if it is April then they are good till April of 08. Make sure you know this and either use them or bank as much as you can.

Banking is an entirely other subject with rules with timetables etc. But you can bank the entire amount, then 75% of your total points, then 50% of your total points, etc down to you loose your points if they are not used up. Banking is important!

As far as a con? The biggest thing in my mind is that OKW will be the first to end the contract so it does not have a long contract life. For me, I will either dead or most likely unable to go to Disney. In that case I will leave it to DS.

I hope this has helped. I am new to our DVC and their are members with better answers to your questions.

Good luck, April

 

[chalee94]

I found an OKW for $17,000+ with about 230 points existing and 230 more in Feb, with points costing $74...how good are the existing points good for? Thanks

sounds like a Feb use year if the new points come on in Feb...which would mean if you're not planning to use the points by Feb 08, you may need to bank them (or have the current contract owners bank them) by the end of July. if you bank them, they will be available till Feb 09.

just FYI if that is the case...

 

[Boston5602]

Banking is an entirely other subject with rules with timetables etc. But you can bank the entire amount, then 75% of your total points, then 50% of your total points, etc down to you loose your points if they are not used up. Banking is important!

As far as a con? The biggest thing in my mind is that OKW will be the first to end the contract so it does not have a long contract life. For me, I will either dead or most likely unable to go to Disney. In that case I will leave it to DS.



Good luck, April

For the First 6 months you can bank 100 % of your points to the next use year. then you can bank 50 % and then 25 % leading up to the last two months of your use year , for Feb it would mean NO BANKING after Nov 30.

As for the ending date ALL DVC resorts end Jan 31 , 2042 with the exception of Saratoga springs ends 12 years later and Animal Kingdom Villa's which end 15 years later.