# [Developer purchase - past rescission date(?) - merged]



## dpv3@live.com (Apr 22, 2012)

i bought club wyndam membership last friday    im seeing salls on ebay for  $1.00
  did i make a major misrtake and can i get out of it


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## dpv3@live.com (Apr 22, 2012)

hi i bought 86000 pts   $16000 .  last week  13th at  wyndam   vip 2 years  300000 pts first year only   2 free weeks thrown in   i know i made a mistake 
im past cancel date    i saw things on ebay for $1.00  what do you think


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## ronparise (Apr 22, 2012)

dpv3@live.com said:


> i bought club wyndam membership last friday    im seeing salls on ebay for  $1.00
> did i make a major misrtake and can i get out of it



Yes you made a mistake, and yes you probably still have time, but it depends on the state where you signed the deal...Look at your contract, probably just above where you signed it and you will see in bold print, the rescission clause...read it and you will have your answer, and the directions to follow to rescind...

my advice and the advice of nearly everyone here is to rescind


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## learnalot (Apr 22, 2012)

dpv3@live.com said:


> i bought club wyndam membership last friday    im seeing salls on ebay for  $1.00
> did i make a major misrtake and can i get out of it



I would advise you to rescind and buy resale after you do some research.  Rescission is your legally mandated cooling off period during which you can cancel a timeshare purchase.  Rescission periods vary from state to state and range from 3 to 10 days.  In most cases the are governed by the laws of the state where the sale took place.  In your contract documents you will find a page containing a paragraph which states your rights of rescission.  Send a letter by certified mail to the address indicated in the written instructions.  The letter just needs to refernece your contract number and state that you are exercising your rights of rescission.  It must be postmarked within the designated rescission period.  Good luck.


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## dpv3@live.com (Apr 22, 2012)

*i just bought on 4/13  what can i do*

[Duplicate posts merged - please post all questions/comments in the same thread. - DeniseM Moderator]


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## bnoble (Apr 22, 2012)

> im past cancel date


Then you are the proud new owner of 86,000 points.  You're not alone---many other TUGgers have made similar mistakes in the past.  Now, the thing to do is to figure out how to get the best use possible out of your ownership, and enjoy it.  With time, you may decide that 86,000 points is not enough for your annual vacation needs, and you can add on more via resale for very little.


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## bnoble (Apr 22, 2012)

In another thread, you said "I'm past my cancel date."  If that is true, then there is nothing you can do---you now own it.

Just so that we can be sure, though: what property did you buy?  Specifically, which state is it in?


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## dpv3@live.com (Apr 22, 2012)

*kicking myself*

is there any advantage to buying direct ,any ? and i will need more pts for sure will i be able to combine , say if i want to go somewhere for 120000 pts  can i combine ... also what your take on the ebay sales  for !.00 plus closing costs


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## dpv3@live.com (Apr 22, 2012)

*not sure im responding corectly to these posts but ill try*

i bought in myrtle bch and im deeded in a bunch of places  the contract says 5 days to cancel    i havent paid anything yet but, i cherish my credit rating


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## DeniseM (Apr 22, 2012)

If you bought Friday, you are still within the rescission period and you should rescind immediately.  

Rescinding is your LEGAL RIGHT and it will not damage your credit rating - ***please read the article I posted above.

On a weekly basis, people GIVE AWAY Wyndham points here on TUG - for FREE.  

*YOU SHOULD ABSOLUTELY RESCIND TODAY!*


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## bnoble (Apr 22, 2012)

That's correct, South Carolina is five calendar days, and you are now past your rescission deadline, and Wyndham almost certainly won't let you back out now.

http://rcivip.com/timeshare-rescission-period-in-us/

I'm not a lawyer, but the fact that you haven't started making payments (beyond the assumed deposit) is probably not material.



> If you bought Friday, you are still within the rescission period and you should rescind immediately.


Denise, he bought on Friday the 13th, not Friday the 20th.


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## dpv3@live.com (Apr 22, 2012)

*thanks   5day?*

thanks for your reply   do you think i can recind even though my contract states 5 days for cancelation   also i dont see yor article ,is it on your webpage?


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## roundtheworld (Apr 22, 2012)

bnoble said:


> Then you are the proud new owner of 86,000 points.  You're not alone---many other TUGgers have made similar mistakes in the past.  Now, the thing to do is to figure out how to get the best use possible out of your ownership, and enjoy it.  With time, you may decide that 86,000 points is not enough for your annual vacation needs, and you can add on more via resale for very little.



If you are past the rescind option don't let it get to you.  We also bought straight from Wyndham before finding TUG, however, we refuse to let the fact that we were conned ruin our vacations.  We still enjoy our holidays immensely and have become wise.  We have purchased points resale and we still hope to purchase some more resale.  We look at our original purchase as our virtual cottage that allows us to travel anywhere we like.  Since we get the VIP benefits my husband and I "take advantage of reading the paper" and chuckle about it.  Not worth sweating over it.


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## dpv3@live.com (Apr 22, 2012)

*friday the 13th*

i should have known better to do anything on friday the 13th


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## dpv3@live.com (Apr 22, 2012)

*ebay*

are these things on ebay for real    100000 + pts  myrtle bch deed   well rated seller   anything to watch out for


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## DeniseM (Apr 22, 2012)

As I posted earlier - on a regular basis, people give away Wyndham points for FREE right here on TUG, and pay the transfer costs.  

The critical thing to look at this the cost of the maintenance fee - which varies greatly.  You can use your Wyndham points at any Wyndham resort, so the critical thing is the cost of the MF.

Also, be aware that Wyndham deeds are also sold on the resale market WITHOUT points, and there is a fee to convert to points, so you probably don't want that.

My advice is to start your research by reading the stickies (permanent articles) at the top of this forum (the Wyndham forum.)


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## ronparise (Apr 22, 2012)

Dollar sales on ebay  are the real thing. Although the contracts going off for a dollar are usually ones you wouldnt want because of their high maintenance fees.  

The point is still the same however, you can buy Wyndham points on ebay for next to nothing and they work the same as points you might buy from Wyndham directly

Where resale points are different than developer points is that resale points are not VIP eligible... There are lots of discussions here on TUG regarding the value of VIP. The consensus is VIP has value, its just not nearly enough value to justify the high purchase price 

To your question, can resale points combine with developer bought points...the answer is yes, you will get one account where all your points will be co mingled


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## pacodemountainside (Apr 22, 2012)

OP:


You definately need to do lots of home work before looking at anything else. Read the  CWP Directory and check posts here for starters. As far as I know no one here wants your money!

You indicate you have deeds at many resorts which would indicate you got a CWA contract with  ARP at some 56+  resorts. However, ARP reservations require tons of points rendering this worthless once temporary  VIP  upgrade expires.

An 86K point contract carries very high POA fee $1.12/1,000 vs  $. 53/1,000 for  larger contracts.

Check contract carefully on  2 year VIP upgrade. Normally you get VIP benefits for two years, but only one week total.

Buyers remorse is  not vaild legal reason to cancel.


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## presley (Apr 22, 2012)

dpv3, don't kick yourself.  There was a reason that you bought what you did.  Since you are passed cancel date, look at what you bought and ENJOY it.  There is nothing wrong with enjoying your vacation membership.

Everyone has posted great ideas here on how you can add to your membership at a later date if you are so inclined.  In the meantime, last thing you should do is feel badly about taking a vacation.  Vacations are healthy for people.  Enjoy them and learn how to use your membership to its fullest.  Don't have any regrets!


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## rrlongwell (Apr 22, 2012)

dpv3@live.com said:


> is there any advantage to buying direct ,any ? and i will need more pts for sure will i be able to combine , say if i want to go somewhere for 120000 pts  can i combine ... also what your take on the ebay sales  for !.00 plus closing costs



Yes, I have seen a contract for 86,000 points, price 14,900 dollars for Club Wyndham Access.  A provision written into purchase was the right to place a PIC contract into the Access program for 90 days after the purchase date (yes, it was in writting).  There was no limit on the number of points that the PIC contract would be limited to (another words, a 3 bedroom prime season could be used).  In this case, a new owner could get Silver VIP status (PIC plus the 86,000 developer points would be over 300,000).  Remember the Silver points needed for VIP goes up this fall.

I have a 84,000 point contract that the program fee is .53 cents per thousand points.

Once upon at time I would see Wyndham Myrtle Beach go for no bids.  However, when I check, I do not see that many Myrtle Beach Wyndham timeshares showing up and most that do draws a bid.  Yes it is real.  The maintaince fees tend to be on the high side, but you get what you pay for sometimes.  If someone buys at Towers on the Grove, my guess it is Club Wyndham Access.  If bought at the other resorts, my guess is the "deeded resorts" are they exchange use rights for ARP purposes for most of the Myrtle Beach resorts.


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## rrlongwell (Apr 22, 2012)

roundtheworld said:


> If you are past the rescind option don't let it get to you.  We also bought straight from Wyndham before finding TUG, however, we refuse to let the fact that we were conned ruin our vacations.  We still enjoy our holidays immensely and have become wise.  We have purchased points resale and we still hope to purchase some more resale.  We look at our original purchase as our virtual cottage that allows us to travel anywhere we like.  Since we get the VIP benefits my husband and I "take advantage of reading the paper" and chuckle about it.  Not worth sweating over it.



And, in my opinion, the newspaper and other benifits are worth it.


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## jjmanthei05 (Apr 22, 2012)

rrlongwell said:


> And, in my opinion, the newspaper and other benifits are worth it.



I agree if you can get it for resale prices otherwise not so much. 

Jason


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## pacodemountainside (Apr 22, 2012)

rrlongwell said:


> I have a 84,000 point contract that the program fee is .53 cents per thousand points.
> 
> 
> RR:
> ...


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## pacodemountainside (Apr 22, 2012)

rrlongwell said:


> And, in my opinion, the newspaper and other benifits are worth it.




RR:

Let's discuss resale vs Developer purchase as it would really make me feel good, warm and fuzzy if you can show me the numbers that I did not get rued, screwed and tatooed and that buying from Developer today is way to go. Shoot, I will send you a case of Champagne!

As us Accountants like to say bad "investments" yesterday are sunk money and best case might get a tax write off!

Likewise, people like youself that inherited, used PIC,  etc. to get to Platinum  are very, very small minority.

Forget make lemons into lemonade!

So,  lets limit discussion/debate to warm body lured/bribed/coerced into Wyndham lair  for raping today. 

Based on my recent ventures one can get Silver VIP of 308K points for around $49,995(actual offer in Vegas) or 105K for $17K  for 105K points to get me to VIP Gold in New Orleans! (actual offer) many similar! Yes, I enjoy rattling salespeople cages, don't get mad, get even!

So lets take $50K and leave invested in Vanguard no commission, very, very  low MF Index fund where it should earn long term, many years average rate of return of around 10%.  If not learn,  a second language  and buy gold and  North Korea War Bonds! Let's not get side tracked on stock market. That is $5K per year which will buy 400K points(equals 300K VIP points with discount) and leave plenty to pay MF and plane fares!. And, of course I still have $50K to pay for long term nursing care! Also, at 10 month mark lock vacations, make plane reservations, no waiting to 60 day point or praying cancel and rebook works.

Using Wyndham(VOI Trust numbers) Wyndham sales reimbursed Trust $12 million for VIP benefits for 2010(last year available). Works out to something like $100-$200 per VIP depending on guessimate of VIPs which Wyndham says is a big secret!

How much is welcome esteemed VIP worth? For me zippo!

At many resorts news papers are laying on lobby table or just ask front desk or   in library/computer room!  I just want to see local weather forecast on TV!

Did many RCI 28Kers and always went to VIP check in and never got,  get your butt over to peasants line

Batting 1,000 on calling  a few days in  advance when I have split reservations and do not want to move.

Batting about 90% when I ask for high up room near elevator as I walk with cane. (Whole thread on this subject.  No concesus)

So, run the numbers for me and put a price tag on intangibles

.
:zzz:


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## rrlongwell (Apr 22, 2012)

My contracts are not stand alone.  I have many contracts in my account, I have not used the "Power Deed" to consolidate my contracts.  They are a mixture of converted weeks, UDI, and Club Wyndham Access deeds.




pacodemountainside said:


> So, run the numbers for me and put a price tag on intangibles:



Easy to do, get with the purchaser who owns no Wyndham Vacation Resorts points.  Do the math based on actual offers (if data is available or can be guesstamated).  

Step 2:  After the hard math is done, then interview the person to determine what the intangeables are to them.

Step 3:  Ask the person to then put a dollar value on the items they identified.

Step 4:  Add of the dollar equilvant of the intangables and the hard math.

Example using post #20 as a basis.  Assuming no exiting Club Wyndham Plus/Access points:

Silver VIP is currently 300,000 VIP eligable points (going up this fall).

86,000 points for $14,900 dollars (plus about 250 dollars in processing costs etc).  Buy a 2 or 3 bedroom fixed or floating week fom E-Bay - $1 plus 600 est. closing costs.

From two different sources a PIC conversion could be found for up to 250,000 converted PIC points.

300,000 minus 86,000 equals 214,000 a convertable RCI eligable week would be needed.

Finding a fixed or floating week in a Prime Season, I believe, could still be a doable thing.

For about $15,600 dollars a move from 0 to 300,000 plus VIP eligable points could be gotten.  If bought before this fall.

VIP intangables:

25 percent discount with VIP Silver made in the appropriate short notice time frame:

A made up intangable price for my hypothetical buyer:

VIP discount for Silver - $425 dollars per year

Club Wyndham Plus Benefits: 0

Right to feel flattered by Staff: 0

Expanded upgrade options: $862 dollars a year

Guest Passes/Reservations Transaction Fees -500 per year

Other VIP Benifits - 0

Having a delivered newspaper $15,600


No crying foul on the delivered newspaper value, it is my hyptheotical buyer.


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## rrlongwell (Apr 22, 2012)

deleted duplicate


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## rrlongwell (Apr 22, 2012)

deleted dupicate


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## ronparise (Apr 22, 2012)

rrlongwell said:


> My contracts are not stand alone.  I have many contracts in my account, I have not used the "Power Deed" to consolidate my contracts.  They are a mixture of converted weeks, UDI, and Club Wyndham Access deeds.
> 
> 
> 
> ...



Im going to take issue with your numbers

First you dont consider interest on the money borrowed to do the deal, or on the opportunity cost. I think Pacos 10% is a good number, and Ill use it rather than the interest Wyndham is going to charge...so Your buyer spends or borrows $15000 which the way I figure it costs him an additional $1500 in interest  a year over what a resale buyer will pay

Second: Your $462 figure assumes that our buyer makes every reservation in the discount window. I dont think thats realistic....I willing to give you 50% in the discount window, which means a reasle buyer will have to buy 50000 more points to match reservations..at a mf cost of $250 a year. Oh and dont forget everyone can get reservations at a discount at some resorts. Lets assume our resale buyer does one of these once in a while...and saves $50

Third: Im not willing to give you anything for the value of upgrades. I dont think anyone makes a reservation knowing he will have to get an upgrade to accommodate his party. We reserve what we need. Ill take an upgrade if its there but Im happy without it

Fourth: the guest fee advantage is only $400 not $500 (even resale owners get one for free. and Im thinking 300000 points is not enough to make and give away 5 reservations anyway ...Even if our hypothetical buyers make 3 reservations and rent or give away 2 of them the advantage is just $100 to the VIP owner

So your guy spends $1200 a year more than my guy for the same reservations, and if we are talking cash buyers and my guy my guy invests in Pacos mutual fund, he will probably have $30000 in the bank in 10 years or so


There are reasons to pay to get to VIP but you cant justify it with a 300000 point account


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## timeos2 (Apr 22, 2012)

jjmanthei05 said:


> I agree if you can get it for resale prices otherwise not so much.
> 
> Jason



You can't, and it isn't.  

It is incredible that anyone still thinks VIP, in the only ways it can be obtained today via retail purchase and the fact that there is absolutely no guarantee it will exist beyond tomorrow, is a "value" of any type. It is nothing but sales hype to try to sell points that you can easily obtain for pennies on the retail dollar or even free. NEVER buy Wyndham retail.  Do everything you can to rescind this grossly overpriced sale. Good luck.


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## rrlongwell (Apr 22, 2012)

ronparise said:


> Im going to take issue with your numbers
> 
> First you dont consider interest on the money borrowed to do the deal, or on the opportunity cost. I think Pacos 10% is a good number, and Ill use it rather than the interest Wyndham is going to charge...so Your buyer spends or borrows $15000 which the way I figure it costs him an additional $1500 in interest  a year over what a resale buyer will pay
> 
> ...



Your guy must be smarter than my hypotheotical buyer, he did not put a subjective value as high as mine on the delivered newspaper.  I am guessing you gut did not even put the price of the paper.


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## Cheryl20772 (Apr 23, 2012)

pacodemountainside said:


> rrlongwell said:
> 
> 
> > I have a 84,000 point contract that the program fee is .53 cents per thousand points.
> ...


ut ohhh... he did post "program fee"; not "MF"


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## jjmanthei05 (Apr 23, 2012)

You can't post what your program fee is on a contract. You have to post what a program fee would be on an account and for an account with only 84,000 points in it would have a program fee of $98 which works out to over $1/k. If you have an account that has 500,000 points where 1 of the contracts is 84,000 then that will be billed at .53/.51 per k depending on plus partners. 

Jason


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## pacodemountainside (Apr 23, 2012)

Cheryl20772 said:


> ut ohhh... he did post "program fee"; not "MF"




Yes, if MF then my advice would be even more gooder and sage

Unfortunately, at this stage of my life I generally find a typo or two after I post. 

I know you were an active poster on Wyndham Forum, what do you hear these days and nights about its resurrection?

Bring back the nickel Coke  and cigar and $.29 a gallon gas!


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## pacodemountainside (Apr 23, 2012)

jjmanthei05 said:


> You can't post what your program fee is on a contract. You have to post what a program fee would be on an account and for an account with only 84,000 points in it would have a program fee of $96 which works out to over $1/k. If you have an account that has 500,000 points where 1 of the contracts is 84,000 then that will be billed at .53/.51 per k depending on plus partners.
> 
> Jason



Jason:

A minor  nit. If you go back about 10  posts you will see where Juanita provided a copy of 2012 Program Fees.  The minimum is $98.00!


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## jjmanthei05 (Apr 23, 2012)

pacodemountainside said:


> Jason:
> 
> A minor  nit. If you go back about 10  posts you will see where Juanita provided a copy of 2012 Program Fees.  The minimum is $98.00!



Woops. Sorry for the incorrect info. I went back and updated my post. 

-Jason


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