# Need advice Parents want to "Give" me a timeshare....



## Ryanleh (Aug 6, 2015)

My parents would like to "Give" me a timeshare. I would have to pay the $981 yearly fee and $75 monthly fee and I guess that is all..... They said this would give me 154,000 point that I would use. The timeshare is at Wyndham Resort at Fairfield Sapphire Valley. They buy this back in 1989 and are too old to travel that much anymore...

I don't even know where to start or if this is something that is worth the price or is this outdated... I know nothing and need a place to start. 

My wife is against... She is like $2000 a year. I can get a hotel and go anyplace thee times a year and still not spend that much money... Does she have a point?

Confused... Please help...


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## markb53 (Aug 6, 2015)

Ryanleh said:


> My parents would like to "Give" me a timeshare. I would have to pay the $981 yearly fee and $75 monthly fee and I guess that is all..... They said this would give me 154,000 point that I would use. The timeshare is at Wyndham Resort at Fairfield Sapphire Valley. They buy this back in 1989 and are too old to travel that much anymore...
> 
> I don't even know where to start or if this is something that is worth the price or is this outdated... I know nothing and need a place to start.
> 
> ...



I'm confused too. If they bought it back in 1989 there shouldn't be a mortgage anymore. Are you sure it is $981 AND $75 per month. Are you sure it's not OR. Generally Maintenance fees are paid monthly.


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## Ryanleh (Aug 6, 2015)

They don't have a mortgage anymore it's paid for.  Yes my mother said the cost is $910.88 per year. In addition it would be $75 per month. For a total of $1810.88 per year.

Thank you for replying...


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## 55plus (Aug 6, 2015)

The numbers don't add up. Doing some quick math the cost would either come to approximately $981 yearly fee or approximately $75 monthly fee. It should not be both. If one of those amounts is a loan/mortgage then walk away, don't take it. 

$1800 a year is way too much if she is saying those are fees, unless the $918 is a special assessment fee. There must be something else going on. Where is the TS deeded - where is the home resort?


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## RandyM (Aug 6, 2015)

For that amount of points it should only be one yearly of the 900 or 75 per month. You may want to check with her again.


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## markb53 (Aug 6, 2015)

Ryanleh said:


> They don't have a mortgage anymore it's paid for.  Yes my mother said the cost is $910.88 per year. In addition it would be $75 per month. For a total of $1810.88 per year.
> 
> Thank you for replying...



I think she might be mistaken because 910.88 per year comes to 75.91 per month. I think it is either/or. 1810.88 would be very expensive for 154,000 points. 

154,000 points will get you 1BR for a week in most of the 80 Wyndham timeshare resorts, during prime season. Or a 2BR in some of the 80 Wyndham Resorts. You would also for a $99.00 fee get into 55 additional WorldMark Resort.
You need to get access to your mom online account and look at her Maintenance fee online.


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## Ryanleh (Aug 6, 2015)

THank you everyone... See I am getting someplace here... I just talked to my mother (And actually listened) it is... $981 per year...  OR about 81.50 a month...

Does this sound better?


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## markb53 (Aug 6, 2015)

morrisjim said:


> The numbers don't add up. Doing some quick math the cost would either come to approximately $981 yearly fee or approximately $75 monthly fee. It should not be both. If one of those amounts is a loan/mortgage then walk away, don't take it.
> 
> $1800 a year is way too much if she is saying those are fees, unless the $918 is a special assessment fee. There must be something else going on. Where is the TS deeded - where is the home resort?



I didn't think of that. I think I read about a special assessment at Fairfield Sapphire Valley. Ryanleh, if it is a special assessment, it if for a limited time like 1-3 years. So you should like into that.

Mark


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## Ryanleh (Aug 6, 2015)

No special assessments...  But that does present to me something to look into... I would hate to get one of those... It's not on the Ocean so that's a plus..  

Anyway it's just the $981 a year for 154,000 points


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## Miss Marty (Aug 6, 2015)

*Wyndham Resort at Fairfield Sapphire Valley North Carolina*

*
Wyndham Resort at Fairfield Sapphire Valley RCI 0590*

70 Sapphire Valley Road Sapphire, NC 28774 828-743-3441

Is located an hour's drive from Asheville, Jackson County region 
of the Blue Ridge Mountains known as "The Land of Waterfalls."

https://www.clubwyndham.com/cw/resorts/wyndham-fairfield-sapphire-valley.page

The Club WyndhamSM Plus Member’s Directory is available on-line. You can browse the directory to determine the points it will take to get the vacations you prefer using Wyndham points.


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## markb53 (Aug 6, 2015)

Ryanleh said:


> THank you everyone... See I am getting someplace here... I just talked to my mother (And actually listened) it is... $981 per year...  OR about 81.50 a month...
> 
> Does this sound better?



That sounds much better. If you were to go to that resort, 154,000 point would get you a 2BR for a week during prime season. The rest of the year it would be between 77,000 and 126,000 for a week. And as I mentioned before you could also go to any of the Wyndham resorts.


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## vacationhopeful (Aug 6, 2015)

If you can book your 1 week of vacation 7-10 months in advance and are NOT greedy about going to the NEWEST resort in the (Wyndham) pile ... plus need a 1bdr (or STUDIO in newer resorts) in Prime season .... AND 7 night stays with checkin in most resorts starting on either FRI or SAT ... no Wed to Wed when the airfares are cheaper .... it might work for you.

If you go in the OFF seasons, you could get 2 weeks in the small unit or a week in a 2/2.

But here is the option which might make the wife happy ... RCI has regular sell off weeks for around $249-399. RCI membership is included in the Wyndham points ownership. If you exchange points for a week, you have an exchange fee. If you "buy" a vacation week during RCI sell off events ... you pay just the $249-399 fee.

About where do you live? That is another BIG thing ... a vacation place within driving range is good as airfares & rental cars are big vacation budget busters.


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## Ryanleh (Aug 6, 2015)

Wow you are all amazing... It looks like I have my work cut out for me...  We live in Jacksonville Florida...  We enjoy our stays at bonnet creek. If we get into this I am sure we would use some points for that...  But we are also tired of Hot all the time and this place in the mountains sounds great...


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## markb53 (Aug 6, 2015)

Ryanleh said:


> No special assessments...  But that does present to me something to look into... I would hate to get one of those... It's not on the Ocean so that's a plus..
> 
> Anyway it's just the $981 a year for 154,000 points



The Maintenance fees are based on where the home resort is. Fairfield Sapphire Valley is a little above average. But the fact that you will be getting for free and since your mother will be transferring it to you means that it will stay a developer purchase and not become a resale, so you will get a few more benefits. I think it is worth giving it some consideration. The main question to ask your self is:

1)Can you plan at least 10 months in advance to schedule your vacation.
During prime season you pretty need to plan 10 months in advance to get what you want.
2)Can you mostly travel for a full week.


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## Roger830 (Aug 6, 2015)

One with 156,000 points sold on ebay for $150 plus closings cost of $249 plus Wyndham transfer fee of $299.
You would have to also pay closing cost to transfer the deed and Wyndham transfer fee.

Basically you are saving about $150. It looks to me like those are fixed week units converted to points. It you want to go there for that week on the deed most years it might be ok. If not, it might be best to do more research before deciding.


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## vacationhopeful (Aug 6, 2015)

The MFs for that number of points is NOT TOO bad ... there are some lower, but most are in that range or above.

You really need to understand, CHANGING vacation plans gets expensive. Inside 15 days of checkin, you forfeit the points if you do not go.

Your point count gets you 2 Reservation Transaction .... that is 2 FREE booking tries .. then you pay for being fickle in your planning.

Short stays get added fees for Housekeeping Credits.

Send a GUEST ... you get 1 adding of a GUEST for free; then it is at least $99 to add a name as your inbound.

Read the Owner's Directory ... and look at the point charts and resort locations. Being in Jacksonville is good .. you are on the East Coast and with a day's drive of MOST Wyndham resorts.

Shawnee resorts (5 villages) might be of interest to you all ... long day's drive - but has a discount for tubing & snow skiing, indoor pool, and just a REAL change of climate. Even in the off season ... you would know, you are not in Florida!


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## Ty1on (Aug 6, 2015)

Roger830 said:


> One with 156,000 points sold on ebay for $150 plus closings cost of $249 plus Wyndham transfer fee of $299.
> You would have to also pay closing cost to transfer the deed and Wyndham transfer fee.
> 
> Basically you are saving about $150. It looks to me like those are fixed week units converted to points. It you want to go there for that week on the deed most years it might be ok. If not, it might be best to do more research before deciding.



Yeah that one didn't go for much because it is a bit high in the MF range, and buyer paid closing.  Some regular bidders are probably staying away from anything that says Sapphire right now because of the SA in one of the associations.  If the MFs were more in the $5.50-$6/K range and it wasn't Sapphire, I bet it would have gone for $1,100.

OP should also consider that he gets developer sale benefits with this transfer, just in case he ever wants to throw money away and climb to VIP.


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## Miss Marty (Aug 6, 2015)

*Since there is no mortgage...*

Why transfer it to out of your parents name?
Save the cost of a new deed & transfee fee.

Have your parents add you & your wife names to their Wyndham 
contract/deed to guarantee you don`t lose any developer benefits. 

You can arrange it with your parents 
to pay them or Wyndham each month.

This way you wouldn`t need a gift certificate when your family goes to Fairfield Sapphire Valley or when you exchange your points.


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## Ty1on (Aug 6, 2015)

Miss Marty said:


> Why transfer it to out of your parents name?
> Save the cost of a new deed & transfee fee.
> 
> Have your parents add you & your wife names to their Wyndham
> ...



Don't you have to pay the fee to add names?


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## VacationForever (Aug 6, 2015)

Don't want to sound crude, changing names while parents are still alive is a lot cleaner while still keeping developer purchased benefits.


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## Ty1on (Aug 6, 2015)

sptung said:


> Don't want to sound crude, changing names while parents are still alive is a lot cleaner while still keeping developer purchased benefits.



Well I mean if they are absolutely done with it, even at an expense, I don't see why not just transfer it.


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## VacationForever (Aug 6, 2015)

Ty1on said:


> Well I mean if they are absolutely done with it, even at an expense, I don't see why not just transfer it.



We are saying the same thing.  Adding children to older parents' timeshare deed when the parents are done with it, is not good practice, IMHO.


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## uscav8r (Aug 6, 2015)

Miss Marty said:


> Why transfer it to out of your parents name?
> Save the cost of a new deed & transfee fee.
> 
> Have your parents add you & your wife names to their Wyndham
> ...


Adding names to the parents' contract can only happen with a new deed. The only way Wyndham will recognize the additional names as owners (and to avoid a GC) is to submit the paperwork to Wyndham. Both of these actions require some sort of expense. 

The only other way to get onto an account and avoid GCs is to buy an additional contract with the new names and at least one of the parents on the deed for this new (resale) purchase.


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## uscav8r (Aug 7, 2015)

sptung said:


> We are saying the same thing.  Adding children to older parents' timeshare deed when the parents are done with it, is not good practice, IMHO.


Except in this case, the "children" are consenting adults who are already looking to take over the ownership. At the very least this should avoid probate.


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## WinniWoman (Aug 7, 2015)

Ty1on said:


> Well I mean if they are absolutely done with it, even at an expense, I don't see why not just transfer it.



Exactly- why not just transfer it to them? Am I missing something?


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## 55plus (Aug 7, 2015)

Miss Marty said:


> Why transfer it to out of your parents name?
> Save the cost of a new deed & transfee fee.
> 
> Have your parents add you & your wife names to their Wyndham
> ...



Wyndham does nothing free. I think in order to get you name added you'll need to be added to their deed and pay a transfer free to add the revised deed to their membership so your name shows up as an owner.


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## rubbub (Aug 7, 2015)

Went through this recently myself as I was added on to my parents Wyndham deed.  Although I've never bought or sold a TS myself, it appeared to follow the same process as a resale transaction from what I could tell.  We engaged a 3rd party company to prepare & file the deed and paid Wyndham the $299 transfer fee.

Even though my parents likely won't use it any more, we chose to add my name as opposed to transferring in order to have more owner's names on the account.  That may not be a consideration for the OP, however.


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## silentg (Aug 7, 2015)

My parents had a timeshare, when Dad passed away, she wanted to share it with us, we ( siblings and I ) took turns for a few years traveled with Mum to resorts. Now that Mum has become too frail, older brother took ownership of the week. Mum enjoyed timeshares but it is still in the family, Her granddaughter just used the week for honeymoon trip to Spain.
Silentg


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## djohn75087 (Aug 7, 2015)

*If you decide you don't want it?*

I listen to the Dave Ramsey show and I agree with his principles (although I do own a timeshare despite the fact Dave hates them). However, he endorses a company called Timeshare Exit Team. Honestly, I know very little about the company but I do trust Dave Ramsey so it might be worth looking into.


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## 55plus (Aug 7, 2015)

djohn75087 said:


> I listen to the Dave Ramsey show and I agree with his principles (although I do own a timeshare despite the fact Dave hates them). However, he endorses a company called Timeshare Exit Team. Honestly, I know very little about the company but I do trust Dave Ramsey so it might be worth looking into.



I listen to Dave Ramsey almost daily and you are correct, he does hate timeshares. I emailed him a year ago about what I'm doing with the Wyndham resell timeshares I'm buying for pennies with a link to my website. About a week later he wrote back that I turned lemons into lemonade. I took that as a complement...


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## djohn75087 (Aug 7, 2015)

morrisjim said:


> I listen to Dave Ramsey almost daily and you are correct, he does hate timeshares. I emailed him a year ago about what I'm doing with the Wyndham resell timeshares I'm buying for pennies with a link to my website. About a week later he wrote back that I turned lemons into lemonade. I took that as a complement...



That's really good to hear, anytime I listen to Dave I have an internal argument over if I should get rid of them or not, but I feel like I'm getting a good deal and I have no other debt other than my mortgage. I'm always thinking about an exit strategy so I may look this company up when the time comes.


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## taterhed (Aug 7, 2015)

djohn75087 said:


> I listen to the Dave Ramsey show and I agree with his principles (although I do own a timeshare despite the fact Dave hates them). However, he endorses a company called Timeshare Exit Team. Honestly, I know very little about the company but I do trust Dave Ramsey so it might be worth looking into.



This is the rule of thumb with timeshares offers: *Never pay an upfront fee.* 

 Never...never...never

 Also, many companies may refuse to transfer the deed if they smell a Viking ship or shuttle corporation.


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## Ty1on (Aug 7, 2015)

djohn75087 said:


> I listen to the Dave Ramsey show and I agree with his principles (although I do own a timeshare despite the fact Dave hates them). However, he endorses a company called Timeshare Exit Team. Honestly, I know very little about the company but I do trust Dave Ramsey so it might be worth looking into.



Paid endorsements do not always represent a radio personality;s personal views, nor do they necessarily guarantee that the endorsed business is legitimate.


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