Newbie question

[YorkshireT]

Originally Posted by kevbrydon

Hi can you explain this a bit more? please... I'm a OKW owner and have never been asked to extend to 2054 or any talk of a signing a waiver...

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Yes it was offered initially in 2007. All contracts were voted to be extended to 2054. Those agreeing were given a big discount initially to $15 a point. Owners were sent waivers to say they’ll give it up if not extending.
It wasn’t very successful by all accounts, even though $15 a point was a good price.
As above, some people have simply refused to sign waivers. They were chased up, even when staying at resort. One guy even gave an account of getting his lawyers involved to tell DVC to stop chasing him, he had bought his contract and had no reason to sign a waiver.
Not sure how long ago they decided to stop chasing the waivers. They now have an issue- with some 2054 and some the original date. This is why when they ROFR a contract they convert it to 2054.
What will happen to the resort when the original contracts come to an end? Will they close part down as no one will be paying fees? Turn it temporarily into more cash rooms? Will someone legally challenge it saying their contracts last to 2054 anyway and they get it free? I have no idea as to the legalities of that last argument by the way.
If you want to extend yours it would be interesting to see if you rang them up whether they’d now even offer it- suspect not but I don’t know.

[kevbrydon]

Thanks for this.. we bought 2009 resale so explains why we didn't get offered anything ...I thought it was just recently lol... Ive got it till 2042 by then I will be 81 and will probably not even know I have a DVC ha ha

[YorkshireT]

Originally Posted by kevbrydon

Thanks for this.. we bought 2009 resale so explains why we didn't get offered anything ...I thought it was just recently lol... Ive got it till 2042 by then I will be 81 and will probably not even know I have a DVC ha ha

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Well if they ask you to sign a waiver- maybe play it canny and just refuse.

[skstorm]

I bought resale as well we weighed up the pros and cons and decided the saving was worth it to us given the benefits we would get to use. As someone has said above I may consider buying the minimum add on points to be a member later if the exchange rate improves. We bought at SSR as we like the resort and more than happy to stay there even if that is all thats available at 7 months however this year we are doing a split stay between SSR & Beech club and found reasonable availability. As long as you do the research you should be happy with what you get.

[YorkshireT]

I have direct and resale. Is buying direct worth it for benefits? Certainly not for us, I save very little in discounts and whilst I enjoy the probably soon to disappear Epcot Lounge, Id maybe pay £100 for lifetime access, not thousands. Buying direct is only worth it to us if we wanted a small add on, which at under 50 points isn’t much cheaper resale.