# How to buy a WorldMark membership on ebay?



## linnysue (Mar 26, 2009)

I decided that the best way for us to purchase a WorldMark membership would be to try and bid on one through eBay.  I definitely need sound advice on how to go about doing this.

We are interested in a 7,000 credit membership.  I have no idea how to find a reputable eBay seller.  I know there's the feedback score, but how would I know if a private seller would be a safe way to go in matters of experience with closing?  Does anyone here know of a fair eBay broker with great prices to deal with regarding WorldMark purchases?  There's Timeshare Angels, but their memberships are selling higher than what I'm looking for.  The listings seem very limited right now.  What should I type in for the search besides WorldMark?  

Thanks for your help.


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## DeniseM (Mar 26, 2009)

A few things top keep in mind:

1) ebay timeshare bids are NOT binding - if after you win the bid things don't appear to be right, you can bail with no penalties.

2)  With an ebay TS auction, you do not pay the seller immediately, like you do with other purchases on ebay - you should use a reputable closing/escrow company.

3)  All monies should be paid to the escrow company - not directly to the seller, except maybe for a small good-faith deposit.

4)  The closing/escrow company should send an estoppel letter to WorldMark to determine if there are any outstanding debts against the deed and process all the paper work to make sure it's accurate.

5)  You can also pay for a title search, and this is recommended if you are spending several thousand dollars.  

6) BEFORE you bid on ebay, ask the seller lots and lots of questions and if you are not sure that you have all the info. that you need, or if it's correct - simply don't bid on that auction.  Make sure you really understand WorldMark before you buy - This is a seller's market and there is no reason to rush into a purchase.  

Good luck!


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## Steve (Mar 26, 2009)

DeniseM said:


> 2)  With an ebay TS auction, you do not pay the seller immediately, like you do with other purchases on ebay - you should use a reputable closing/escrow company.:



From my experience, having both purchased and sold a number of timeshares...including WorldMark credits...on eBay, most sellers do expect you to pay immediately after the close of the auction.  Often payment is made to a 3rd party closing company, but payment in full is usually expected at the close of the auction.  I have always required it of my buyers, and I have been willing to pay it to the sellers that I have purchased from.



DeniseM said:


> 5)  You can also pay for a title search, and this is recommended if you are spending several thousand dollars.



This does not apply to WorldMark.  With WorldMark, a person buys "credits" within the WorldMark system.  There are no deeds as you are not buying real estate.  Therefore, a title search is not possible.

Steve


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## yumdrey (Mar 26, 2009)

When I purchased my WM, I asked the broker to verify the account information before I send payment. Broker contacted WM, let them know that I would call them soon and they (WM) could release the account info to me (Prospect buyer at that time). If the sellers don't give the permission, you (buyer) cannot get any account info from WM.
I called WM, got the account info from them (they will let you know when is the next MF due & how much, how many housekeeping tokens left, how many credits are in account, if there's any loan for the account, if so, how much and how many months of payments left, etc...), and sent the money to escrow account. WM transfer doesn't need closing company because there's no title, transfer is very easy and takes 2-3 weeks, but I would recommend you to use escrow account as you need to spend couple thousands dollars for 7000 credit.


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## linnysue (Mar 26, 2009)

Is a closing/escrow company necessary since there is no deed with a WorldMark membership?


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## ecwinch (Mar 27, 2009)

For the funds escrow - I would say yes, if the purchase price was sizable. That would different then getting title insurance. 

 If buying from an established e-bay seller, you probably will not have a choice.

 If buying from a private party selling their membership, then it is a matter of trust. I would only chance it, if that auction was for a low amount, with a seller with a verified PayPal account, I paid by PayPal, and I could vet the seller and their ownership throughly.


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## Bill4728 (Mar 27, 2009)

This is from an old thread;



> Here is a list of four big WM resellers
> 
> www.redseason.com
> www.resort-property.com
> ...


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## DeniseM (Mar 27, 2009)

Steve said:


> From my experience, having both purchased and sold a number of timeshares...including WorldMark credits...on eBay, most sellers do expect you to pay immediately after the close of the auction.  Often payment is made to a 3rd party closing company, but payment in full is usually expected at the close of the auction.  I have always required it of my buyers, and I have been willing to pay it to the sellers that I have purchased from.



Hi Steve - I have purchased 5 weeks on ebay and I did not pay the seller immediately, except for a good-faith deposit.  Maybe Worldmark is different, but in most cases I paid a small deposit and did not pay the balance until I received the contract and could check everything out.



> This does not apply to WorldMark.  With WorldMark, a person buys "credits" within the WorldMark system.  There are no deeds as you are not buying real estate.  Therefore, a title search is not possible.



You're right of course - I was talking about deeded properties - sorry.


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## linnysue (Mar 27, 2009)

I thought this was a buyer's market for these memberships?  Hardly anything is listed on eBay.  Is there something else I need to type in besides WorldMark or WorldMark Timeshares?

Does anyone know anything about Sumday Vacations?  I heard they did have some WorldMark listings on eBay not too long ago.    
http://sumdayvacations.com/


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## alwysonvac (Mar 27, 2009)

I suggest working with one of the major resellers Bill listed above in post #7 for a quick and hassle free transaction. I bought from timeshareangel and I had access to my WorldMark account in less than two weeks.

I've dealt with www.timeshareangels.com and http://www.wmcredits.net/
I highly recommend both resellers. They both also sell on eBay


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## KimberlyAnn (Mar 27, 2009)

linnysue said:


> I thought this was a buyer's market for these memberships?  Hardly anything is listed on eBay.  Is there something else I need to type in besides WorldMark or WorldMark Timeshares?
> 
> Does anyone know anything about Sumday Vacations?  I heard they did have some WorldMark listings on eBay not too long ago.
> http://sumdayvacations.com/



I bought wyndham, not worldmark, through them on ebay in December and had a positive experience. I would recommend them if they have worldmark points for sale.


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## LLW (Mar 28, 2009)

linnysue said:


> I thought this was a buyer's market for these memberships?  Hardly anything is listed on eBay.  Is there something else I need to type in besides WorldMark or WorldMark Timeshares?



How many are you seeing? I see 30 listings by putting in "Worldmark" and "Real Estate" and thought that was plenty. You would need to study each one and decide if that is what you are looking for. Full Disclosure: I am not an eBay person. EBay experts would have a lot more ways to look them up, for sure.

Furthermore, you may want to go look at the memberships for sale by the 6 or 7 major WM reseller recommended here and on WMOwners.com, and compare them side by side with the eBay listings, for best overall in pricing, safety, learning curve, and efficient and effective closing. I am sure you must be aware that there are usually trade-offs.


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## linnysue (Mar 28, 2009)

alwysonvac said:


> I suggest working with one of the major resellers Bill listed above in post #7 for a quick and hassle free transaction. I bought from timeshareangel and I had access to my WorldMark account in less than two weeks.
> 
> I've dealt with www.timeshareangels.com and http://www.wmcredits.net/
> I highly recommend both resellers. They both also sell on eBay


I've been looking at Timeshare Angels closely.  I called them as well, but the lowest price I could get them to was around .59 per credit.  They do have a 7,000 credit WM membership on eBay currently, but their closing costs are high at $445 bringing the extra charges up to $595 (ouch).  I just think there are better deals out there.  Am I wrong?  I also feel this may be the wrong time of year to try and find a good deal, so I just have to exercise a little patience.


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## linnysue (Mar 28, 2009)

LLW said:


> How many are you seeing? I see 30 listings by putting in "Worldmark" and "Real Estate" and thought that was plenty. You would need to study each one and decide if that is what you are looking for. Full Disclosure: I am not an eBay person. EBay experts would have a lot more ways to look them up, for sure.


True, but out of the listings that come up most of them are either for one time credits, housekeeping tokens, or larger credit memberships with a high starting bid.


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## linnysue (Mar 28, 2009)

Set me straight...What do you all feel is a fair price for a 7,000 credit membership?  I know there's a member here who got a killer deal on eBay last fall for .39 per credit including the $150 transfer fee and closing costs.  But that was last fall during a most opportune time when real estate was at its lowest point.  

I know I need to be realistic here, so maybe I'm trying to find something that is not possible.  Okay, so bring me back into realistic expectations...In this current market, what do you all feel I should shoot for?

BTW, I'm totally appreciating this feedback.  You all are so helpful.


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## Steve (Mar 28, 2009)

linnysue said:


> Set me straight...What do you all feel is a fair price for a 7,000 credit membership?  I know there's a member here who got a killer deal on eBay last fall for .39 per credit including the $150 transfer fee and closing costs.  But that was last fall during a most opportune time when real estate was at its lowest point.
> 
> I know I need to be realistic here, so maybe I'm trying to find something that is not possible.  Okay, so bring me back into realistic expectations...In this current market, what do you all feel I should shoot for?
> 
> BTW, I'm totally appreciating this feedback.  You all are so helpful.



I wouldn't pay more than .50 per credit.  I purchased a WorldMark ownership a few months ago for considerably less than that.  If you put forth some effort...and have some patience...you should be able to find a 7000 credit ownership for $3500 or less. 

It may take you a few months to find it, but you'll succeed if you keep looking.  You won't find it by going through one of the recommended brokers, however.  You will have to either buy on eBay or from an individual owner.  There are lots of places to look.  Since you live in Utah, you can even try www.ksl.com Choose the "Classified" tab. Then type in WorldMark.  There are currently 61 ads.  Of course, the asking prices are higher than what you want to pay...but many people really need to sell.  So, start making offers. 

One addtional note:  Go for the best deal even if it isn't exactly 7,000 credits.  Consider 6,000 or 8,000 or maybe even 10,000 credit ownerships.  If you do that, you will absolutely be able to find a good deal.

Steve


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## ecwinch (Mar 28, 2009)

Steve - thats a great site. Thanks for posting it.


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## linnysue (Mar 28, 2009)

Steve, thanks for your advice.  Funny, you should mention the KSL online classifieds.  I was just perusing their Worldmark ads the other day.  Yes, the prices were higher than what I was looking for, but maybe I should call on a few of them.  I'm not in any rush, so that's an advantage.  I guess this is going to take a few months.  

I was considering a 6,000 credit membership or even a 5,000 credit membership, but what if I wanted to add more annual credits?  Can you add 1,000 or 2,000 annual credits, and if you can, where would I find them?  I'm not interested in going beyond the 7,000 credit mark since the annual fees jump to the next level starting at the 8,000 credit mark.


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## LLW (Mar 29, 2009)

linnysue said:


> True, but out of the listings that come up most of them are either for one time credits, housekeeping tokens, or larger credit memberships with a high starting bid.



I just took a look again. I put in "Worldmark" and "Real Estate" and 28 listings came up. All 28 listings are for sales of annual credits. A couple appeared to be duplicate listings. But ebay + Craigslist + many other resale outlets = many choices for buyers. 

Of course, if you are looking for 39 cents per credit, then you need to look a lot longer and harder.  It looks like you are willing and ready to do that.  I am sure perspiration will meet luck.


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## LLW (Mar 29, 2009)

linnysue said:


> I was considering a 6,000 credit membership or even a 5,000 credit membership, but what if I wanted to add more annual credits?  Can you add 1,000 or 2,000 annual credits, and if you can, where would I find them?  I'm not interested in going beyond the 7,000 credit mark since the annual fees jump to the next level starting at the 8,000 credit mark.



You can always add, in increments of 1,000, later. But there is a $150 WM transfer fee for each transfer transaction. For a 1000 credit transfer with a price tag of $500, that $150 would amount to a hefty 30%. That is OK as long as it's part of your conscious decision.

On wmowners.com you can post your "credits wanted" ad (for free) in the Memeberhip for Sale forum. Members may do it here on TUG for free also, I think. Or, most resellers would do it (for an implicit or explicit fee, I am sure) too, and they would have more inventory available.


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## Robert D (Mar 31, 2009)

Is there a transfer fee if you rent points from another owner?


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## linnysue (Mar 31, 2009)

I think I'm starting to have second thoughts about becoming a Worldmark owner and maybe I should explore more options.  Is there anything like a Worldmark membership with low maintenance fees?  The thought of paying annual fees for the rest of my life is becoming a scary thought.


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## Steve (Mar 31, 2009)

linnysue said:


> I think I'm starting to have second thoughts about becoming a Worldmark owner and maybe I should explore more options.  Is there anything like a Worldmark membership with low maintenance fees?  The thought of paying annual fees for the rest of my life is becoming a scary thought.



WorldMark actually has some of the more reasonable maintenance fees for a major timeshare system.  If you don't like the thought of paying annual fees, then timeshare ownership may not be right for you at this time.  I'd suggest that you rent where you want to go for a while...and then decide if being an owner is really what you want.

Steve


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## LLW (Mar 31, 2009)

Robert D said:


> Is there a transfer fee if you rent points from another owner?



For now, no.


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## LLW (Mar 31, 2009)

linnysue said:


> I think I'm starting to have second thoughts about becoming a Worldmark owner and maybe I should explore more options.  Is there anything like a Worldmark membership with low maintenance fees?  The thought of paying annual fees for the rest of my life is becoming a scary thought.




All timeshares have maintenance fees (maybe there is one that doesn't and I just don't know about it) and most of WM's are not unusal, for now. Yes, if MF hadn't been part of your consideration, maybe you need to rent vacation condos for a few years, then decide.


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## ecwinch (Mar 31, 2009)

linnysue said:


> I think I'm starting to have second thoughts about becoming a Worldmark owner and maybe I should explore more options.  Is there anything like a Worldmark membership with low maintenance fees?  The thought of paying annual fees for the rest of my life is becoming a scary thought.



You absolutely should pull back and take your time. Timeshares are not going anywhere. I have only been a WM owner for about 2 months. So far it is the most flexible system I have seen. 

This could change tomorrow morning. But right now, you can very easily rent your annual ownership credits to cover your annual fees.


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