Membership Extension Information

[Debbie H]

Well, we received our membership extension packet today. It is amazing that they voted for this on 9/24 and got these printed and mailed by the 28th! Yeah, right.

DVD will pay $10 per point IF PAID IN FULL by February 29, 2008. If not paid by then, you will pay the full assesment of $25 per point.

So, for us, if we pay in full by 2/29, we owe them $30,000, March 1 it would be $50,000 oh, and don't forget the 10% down if you finance.

I am not feeling warm and fuzzy with this....

 

[Beca]

Well, we received our membership extension packet today. It is amazing that they voted for this on 9/24 and got these printed and mailed by the 28th! Yeah, right.

DVD will pay $10 per point IF PAID IN FULL by February 29, 2008. If not paid by then, you will pay the full assesment of $25 per point.

So, for us, if we pay in full by 2/29, we owe them $30,000, March 1 it would be $50,000 oh, and don't forget the 10% down if you finance.

I am not feeling warm and fuzzy with this....

Wow!! You have 2,000 OKW points...how nice!!!

 

[CapeCodFam]

Maybe my perception of this wrong. But, even if you don't extend, your membership hasn't changed. DVC would just have the rights to the future years. I think this will allow DVC to sell OKW at a higher price for the extended contracts. I.e. They ROFR okw contracts, tack on the years, and sell higher. Am I missing the boat.

 

[Chuck S]

Maybe my perception of this wrong. But, even if you don't extend, your membership hasn't changed. DVC would just have the rights to the future years. I think this will allow DVC to sell OKW at a higher price for the extended contracts. I.e. They ROFR okw contracts, tack on the years, and sell higher. Am I missing the boat.

I think you have it correct, CapeCodFam.

We will probably extend, while I will most likely be too old to use it (although with medical advances, you never know ), I figured if we needed to sell in the future, it would be worth a little more...plus the people I am planning on leaving my meager estate to will probably be young enough (or their children) to enjoy those extra years.

 

[Steve@BWV]

It continues to amaze me what people will complain about. Reading these boards one would think DVC resorts are one of the worst timeshares on the market. The pessimism that I read here is amazing. Instead of looking at the discount DVC has offered we focus on the increase after 6 months. $15/15years is CHEAPER than all but the 1st contracts sold and if we count the time value of money it is cheaper.

And as CapeCodFam says, nothing has changed to the contract that was originally purchased. Why complain about an opportunity?

That said, i will gladly jump at this opportunity. While resale values today will not increase $15 for a contract that has been extended, in the next 10 or so years the price of a non-extended contract versus an extended contract will be far below a the $15.

 

[Debbie H]

Why does it need to be paid for by 2/29? It seems that DVD needs cash all of a sudden.

Don't get me wrong, it has been a wonderful investment for us. I'm not quite sure if we will extend though. I will be 90 in 2042 and dh 94. I think we need to get the family together and see if this is something they would be interested in.

 

[Inkmahm]

Wow!! You have 2,000 OKW points...how nice!!!

That's what I was thinkng... 2,000 points? Wow!

If this is extended to BWV and VWL, I'll have to think about it. That would be 330 points for us for those locations, total. I wonder if it would be he same $15 or less?

 

[Caskbill]

While DVC collects maintenance fees every year, there's no telling if a special assessment will be necessary some time down the road as the resort ages.

In 2057 the OKW resort will be 65 years old!

 

[JimC]

..In 2057 the OKW resort will be 65 years old!

If properly constructed and properly maintained that should not be an issue. But it will likely cost more to do so then it does now.