Looking to buy Wyndham points from Ebay

I am looking to buy UDI points for Wyndham through Ebay, but I have some concerns. It seems the process does not give me much protection from scams. What is the normal process? How can I protect myself? I've been a member of Ebay for 20 years, so I know Ebay, just not in regards to time share purchases. Thanks for any help!

You can do a search here and obtain all of the information that you will need.

aocch3 said:

I am looking to buy UDI points for Wyndham through Ebay, but I have some concerns. It seems the process does not give me much protection from scams. What is the normal process? How can I protect myself? I've been a member of Ebay for 20 years, so I know Ebay, just not in regards to time share purchases. Thanks for any help!

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One solid move would be to search the seller's username here in TUG for comments about them....There are some good ones out there, and some sketchy ones or ones that are simply difficult to work with.

I will say that no matter who is selling, carefully examine the ad for exactly what is offered, and especially what the closing costs are and who covers them. Some sellers pad the closing cost they charge you very nicely.

The two things you can do to protect yourself on eBay are to know the product inside and out... Know it better than the seller. And know your seller, at least by reputation

Roger830 said:

You can do a search here and obtain all of the information that you will need.

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I did a search before I created a new thread and asked the question. I have no doubt all the information I want is on this board, but I haven't had any luck finding it. Could you provide a link?

At the top of the page, under the ADVICE link, there are several articles about how to buy resale.

You will get more specific answers here, if you ask specific questions.

Regarding Scams:

-know the product you are buying
-verify everything
-check the seller's reputation
-ask questions before you bid
-get an estoppel prepared by the resort mgmt. Co. before you bid or at least before you pay
-use a reputable closing Co. (some eBay sellers insist on closing in-house)
-EBay TS auctions are not binding - if it goes sideways after you bid - walk away

aocch3 said:

I did a search before I created a new thread and asked the question. I have no doubt all the information I want is on this board, but I haven't had any luck finding it. Could you provide a link?

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About an inch below the heading "TUG BBS" is a row of selections. Click on "search" then click on "Advanced Search" then enter "ebay" under "keyword(s)" then move down and click on "Search Now."
A wide range of topics will be listed.

Great tips, thanks so much! I guess my main specific question is since it takes so long to process the contracts, once I send my money off I am in a waiting game for months. Do scams that take advantage of this fact exist?

aocch3 said:

Great tips, thanks so much! I guess my main specific question is since it takes so long to process the contracts, once I send my money off I am in a waiting game for months. Do scams that take advantage of this fact exist?

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There are members here that have lost money on ebay, often due to incompetence rather than a scam.

I purchased 4 Wyndham contracts on ebay, all are in my account. On one contract the prior owner transferred some points to rci that I was to get. The closing company offered to reverse the transaction, but I worked out a deal for the owner to send me a check.

My best deal was from a seller with the worse reputation. He is now gone from ebay. I only had $78.77 at risk, I could afford to lose that amount.

I'm negotiating a contract and the seller tells me this when I asked for an estoppel letter: "When I submit the new owner information, the deed, and maintenance fee invoice to title, the estoppel is then ordered. " does this sound correct?

aocch3 said:

I'm negotiating a contract and the seller tells me this when I asked for an estoppel letter: "When I submit the new owner information, the deed, and maintenance fee invoice to title, the estoppel is then ordered. " does this sound correct?

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Not to me it doesn't, no....

The seller can request and obtain estoppel documentation now (or previously, for that matter) to have it readily available for you (or any other prospective buyer) to see, redacting any personal information about the current owner which is not relevant to account status, for privacy protection. That being said, since I believe that Wyndham fees are billed monthly, said (dated and Wyndham-signed) estoppel documentation would soon be not completely current, as it is really a "date specific snapshot in time" of current account status. However, even a "month-behind" estoppel will provide relevant and useful information on (...almost) current account status.

I'm admittedly entirely unclear on the meaning or intent of seller "sending maintenance fee invoice to title". On its' face, that statement seems to suggest that seller expects that you would be paying outstanding mf bills as a part of the transaction, but maybe I'm missing or misinterpreting something here.

Last but not least, I believe that Wyndham charges $299 for "transfers", a mandatory cost about which I see no mention at all . Maybe the seller has built that mandatory Wyndham extortion fee into your closing costs, but know and rest assured that Wyndham is going to get it from someone before effecting a transfer.

In short summary, I recommend that you "proceed with caution" on this transaction.

aocch3 said:

I'm negotiating a contract and the seller tells me this when I asked for an estoppel letter: "When I submit the new owner information, the deed, and maintenance fee invoice to title, the estoppel is then ordered. " does this sound correct?

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All of the estoppels that I have gotten, both contracts bought and not bought were obtained from Wyndham months before the auction. That's how the seller knows the status of the owners contract. It's too late for you if he obtains the estoppel when submitting the deed.