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Restrictions on resales of Wyndam/Fairfield points deeds?

Discussion in 'Wyndham Resorts' started by turtle553, Aug 22, 2007.

  1. turtle553

    turtle553 Guest

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    On our last family vacation (Shawnee, PA), my Father asked me to come along to the sales pitch for some new Wyndham properties they were building at the resort. He doesn't need another timeshare for himself, but getting into a points system would help with his other week in South Carolina that is almost always traded with RCI.

    We were told he could deposit his S. Carolina week and get 154k annual points once he was an owner in the Wyndham/Fairfield system. He was slightly interested until I looked up the prices on ebay and saw the much better deals available. So we got back to them and said "no" and got our free gift.

    Now that I saw these ebay prices, I'm looking to get a good deal for myself and fiance, but I still have a few questions about what some restrictions may be. I know only developer bought points count to VIP status (which I don't care about), but are there other important ones?

    Would I be able to buy an RCI week once I was in the Wyndam/Fairfield system and still deposit it for points? I know my Dad would probably just give me his SC week that is hardly used at all. It would also seem like a good way to add extra points since resale prices on fixed week deeds sell for so much less at resale then points deeds.

    If my Dad did give me his week, are there added transfer costs that aren't there when a deed is willed on?

    If the points are listed as UDI, that means you are not tied to a fixed week during the 10-13 month booking period. Correct?

    Are there any other restrictions to account for? I'm pretty familiar with the RCI weeks programs, but still trying to learn about the various points systems.

    Thanks
     
  2. Bill4728

    Bill4728 Moderator

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    FF/wyndham points (also called FairShare Points-FSP) are different than RCI points. Anytime you buy from FF/wyndham directly, you'll get FSP. But if you buy resale, you may or may not be buying a week which comes with FSP.

    If you asking, Can I buy a FF TS (one with FSP points) and also use my dad's TS?

    If your dad owns a FF TS which has FSP, then yes, your dad can give you his FSP points.

    If your dad has just a regular week at FF managed resort but his week isn't FSP, then no you can't use his week to add to your points. (which seem to be the case in your post)

    There is more to it than that but I hope that helps


    PS I'm moving this to the Wyndham board where most of the FF people hangout.
     
    Last edited: Aug 22, 2007
  3. johnmfaeth

    johnmfaeth TUG Member

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    If you dad gives this to you, you will have to pay a modest amount to have a new deed created and recorded in Monroe County, PA (Shawnee's home county). You will be exempt from PA Real Property Transfer Tax as a member of his immediate family.

    Wyndham/Fairfield will accept the new deed for free. If it also has points, they charge $100 transfer fee.

    Be warned, if your father is not a PA resident and he leaves it to you in his will, after his will is "Probated" (legal process) in his home state, you will have to hire an Attorney in PA to get legal permission from the PA courts to transfer this to you or anyone else as part of his estate. That will add an expense of $750 to $1,500 by itself.

    So, it is very wise to transfer it now or have you name added to the ownership via a new deed PRIOR to his passing which is hopefully many years in the future.
     
  4. turtle553

    turtle553 Guest

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    The other week (in S. Carolina) is not a FF resort, it is just a resort that trades through RCI. During our sales pitch, we were told this week could be deposited into the Wyndham/Fairfield system (since Wyndham owns Fairfield and RCI) to get 154k points to combine with however many points would come with our deed.

    So is this ability to deposit an RCI week to get Wyndham/Fairfield points only open to people who buy deeds from developers or can any Wyn/FF owner deposit an RCI week they own no matter who they bought the deeds from?

    Or were we lied to about being able to get points for our RCI traded property?
     
  5. timeos2

    timeos2 Tug Review Crew: Rookie TUG Lifetime Member

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    Fairshare Points are not RCI Points. Developer prices are always too high

    There is a plan in which non-Wyndham resorts are brought into the system for Fairshare Points. To do it you must buy a certain amount of timeshare points from the developer. Bad move. Every time we have looked at this the amount of points we would get both in the purchase and the transfer of the non-Wyndham resort has been at a cost far too high per point. It is much cheaper to simply buy resale points and not involve the developer purchase or the non-Wyndham resort at all.

    So while it can be done it is not a wise financial move. In fact buying Fairshare Points from the developer is not a wise fianancial move. Bought resale Fairshare Points are a true bargain - at retail they are a true ripoff.
     
  6. turtle553

    turtle553 Guest

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    Buying from a developer was never really considered, it was just that if we could get some points from a pre-existing week, it would change the ammount of points we were looking to buy at resale. Thanks for the info.
     
  7. johnmfaeth

    johnmfaeth TUG Member

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    Just two weeks ago, a neighbor mentioned that they bought 154K points at Bonnet Creek (Wyndham) for only $23,000. For an extra $3K they were able to convert a non-Wyndham timeshare to an additional 154,000 points, So for $26K they could by what costs about $4-5K on the resale market AND give up the other timeshare in the process (it is on St. Thomas). Those prices did not include years on non-tax deductable interest at 16.9%. Luckily they rescinded the sale on time.

    Buying from the developer makes economic sense about 2% of the time and NEVER with Wyndham.

    That is the only way to convert non-Wyndham to Wyndham Points. Much better off dumping the other and buying the points resale if that is truly desired.

    Best advice is to learn, learn, learn before doing anything. That is the advice you will find throught TUG.
     

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