buying worldmark on CraigsList

I am new to timeshares. I have used friends worldmark vacations and loved it. I refuse to pay the crazy prices through world mark. I have found a seller on CL who is offering a great deal for $2500. This includes 16000 points and 8,000 on a january 31st anniversary date. Please help me with questions to be sure this is not a hoax. Also, with World Mark do I have to have a preferred location? Like other timeshares am I tied into a certain week that I can use my points?
I appreciate any help you can give this "newbie"! Thank you!

Hoax or not you will have to establish it yourself. You can find similar points/price on eBay or directly through reputable 3rd party reseller. You can go to wmowners.com and you can find all sorts of resources there. Read up and research before buying.

Worldmark is a pure points system, no home location or "preferred location".

sptung said:

Hoax or not you will have to establish it yourself. You can find similar points/price on eBay or directly through reputable 3rd party reseller. You can go to wmowners.com and you can find all sorts of resources there. Read up and research before buying.

Worldmark is a pure points system, no home location or "preferred location".

Click to expand...

Understand you are looking at an 8000 credit membership. (8000 credits annually)

So roughly 30 cents a credit. That's good for a fully loaded contract

so, if the deal is real....


8k contract: 8000 banked, 8000 current, 8000 to borrow (jan 17, 8k more) is a 'fully loaded contract.'

Guideline for 'fully loaded' is about .40 cents per point--all fees. That's $3200

At $2500 (plus $299 transfer fee paid by buyer I assume?) thats $2800 or about .35 cents per point, all in. Very good price.

Of course, you'll need a closing/escrow agent unless the seller will take a form of payment that allows chargeback/cancellation for unfufilled contracts. There is a great deal of discussion about using paypal for real estate on ebay...rules and such. If reputable or done via escrow/closing agent...good deal.

Keep in mind; you'll need to book/deposit/use those those expiring 8k points by Jan 30 or you'll lose them. Best have the seller book a ressie or be prepared to have him make one if contract doesn't transfer in time. Options include spacebank with RCI or II or placeholder reservation or actual reservation.

cheers.

ps: Worldmark is great on the west coast or for trading. If you're New York and plan on driving to your vacation.....maybe not so much. Research. FIll out the 'what to buy for newbies' under new to timesharing and see what people advise.

I would personally not buy an 8,000 credit membership - the membership dues for a 10,000 credit membership are exactly the same as for an 8,000 credit membership. You'll pay a little more up front, but you'll get about $150 per year in extra value each year for the same annual outlay.

K2 is right....

Fees are inefficient for 8k...that's why it's cheaper.

Fees have gone up a bit for 2016 (8k is $752.43 for 2016 vs 2015 below)
It's still a good price..but I would combine for larger account if I liked it and wanted to keep it.

WorldMark Maintenance Dues - 2015
Credits Basic Dues
5,000 $445.65
6,000 $581.12
7,000 $581.12
8,000 $716.59
9,000 $716.59
10,000 $716.59
11,000 $852.06
12,000 $852.06