Thinking about buying resale at OKW

[Dean]

Don't know about the paying off pennies in the dollar. Many owners of 57 contracts would kick up a major stink, and the publicity would be highly damaging for Disney timeshare business. If they really wanted to take it back prematurely, I think they'd either have to make very good offers or transfer people to a new resort not yet sold out. But who knows....

Several points. I don't believe they will level it and rebuild the entire thing in 2042. There are rules and laws as to how they can close the resort. However the owners would have to pay for any changes or upgrades. I also don't put much stock in the ability of the owners to complain and get results when not backed up by a legal basis. I think DVC members have proven they're all bark and no bite in that regard. As I read it, the membership would have to vote to close it early if not for reasons dictated in the POS. But if it were closed down early the members would likely only get pennies on the dollar. Think if VB were leveled by a hurricane so insurance after deductible and all expenses divided up between the owners there, I'd guess about 50% of the current resale price. They cease to be members unless they owned independently.

 

[Disneypapa]

I purchased a 200 point OKW resale contract about 14 years ago for less than $70/point. I used a local resale company. I managed to get a loaded contract (points had been banked) at a great price. My family has gone to WDW every other year. The points we do not use, I rent on the Rent/Trade board or to friends/family. I did not exercise the opportunity to lengthen the contact beyond 2042. This has worked out great so far and I would recommend buying resale vs "direct".

I do not worry about the future value of my contract, because I feel I have already gotten my monies worth in savings on accommodations. When my spouse died five years ago, I added my adult son to the contract and retitled the deed.