# First Buy recommandations



## pharmacistking (Sep 23, 2019)

Hello

Looking into the WM system via resale. Very interested in the Canadian and mexican properties and trading via II. I have an opportunity to buy from a reputable seller 20000 Credits for 5k. + closing and transfert costs. Is this a fair deal?

Is 20000 too much for a first buy? Account comes with residual credits for 2019.

Kind Regards


----------



## geist1223 (Sep 23, 2019)

We are Worldmark Owners. The price seems ok - 25 cents per Credit. But I do not understand why Closing costs and Transfer costs. Wyndham simply charges $299 to transfer the Ownership. What is the seller saying are the closing costs and Transfer costs? With 20K Credits/Points you will get 2 House Keeping Credits and 2 Guest Certificates each year. This number of Credits/Points will give you a couple weeks per year depending on size of Unit you Reserve and the Season. You will also have access to cash options - Bonus Time, Monday Madness, and Inventory Specials. Remember to reserve high demand Resorts you will need to Book 13 months to the day. Booking opens online at 6am West Coast Time. It will take at least 3 to 6 months to get the Transfer completed.


----------



## bizaro86 (Sep 23, 2019)

That's probably fair market value depending on how many extra credits are included and how much they charge over and above the $299 transfer fee they charge for closing. 

How much is too much is like asking how big a vehicle you need. It depends how you will use it. If you are very confident you'll use 20k per year then that's a fine account size. It's cheaper to buy only once vs upgrading later, and that is an efficient size for fees.


----------



## pharmacistking (Sep 24, 2019)

Fees suggested are 
 +$299.00 (Transfer Fee to Wyndham) +$199.00 (Closing Costs) .

I guess the agent makes money on these fees. The account is also stocked with 40000 current credits.


----------



## geist1223 (Sep 24, 2019)

I still do not understand closing costs. There is no "closing" as there is no Deed. If they want to say Brokage Fee that would be different. But normally the Broker takes their fee out of the sale price.


----------



## bizaro86 (Sep 24, 2019)

pharmacistking said:


> Fees suggested are
> +$299.00 (Transfer Fee to Wyndham) +$199.00 (Closing Costs) .
> 
> I guess the agent makes money on these fees. The account is also stocked with 40000 current credits.



In that case I think that is a fair price. While the $199 isn't really necessary imo, if that's how the deal is structured and the total price is fair (which it is, imo) then that doesn't bother me particularly. The 40,000 current credits adds quite a bit of value. That would rent for around $2800.


----------



## cbyrne1174 (Sep 26, 2019)

20,000 is the amount I plan on eventually purchasing. It is a perfect multiple of 10,000 and you can exchange it for 2 weeks of vacations in II for much cheaper than owning Marriott.


----------

