# I just bought from the developer, thoughts? There's still time to cancel.



## ServeChilled (Sep 11, 2017)

We just bought 200k/year points for $30k, with $1,121 yearly MF. Unfortunately, I did not find this website before we went to our presentation (our sales people were actually quite nice thought). Luckily, per our contract, we have until Friday to mail our cancellation, and so I'm on a fact finding mission.

Ebay currently has contracts for 500k points for less than 3 grand. However, I called our sales manager today and told him this, and his response was these accounts can come with a lot of baggage, and they are "flagged" as resale by the Company. What does that mean?

They also don't come with any of the developer "deals," (like Perks or PartnersPlus). My question is, can I add these items later to a resale contract? We are really interested in going on cruises and using points for airfare. However, are these add-ons even really worth it?

I have read many horror stories across the internet and would welcome any other advice. We love the concept of being able to travel somewhere else each year for a pseudo-one time purchase (minus yearly MF). I have already learned a ton from this forum and appreciate everyone's insight.


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## AwayWeGo (Sep 11, 2017)

Get out of it while you can.  

Wyndham puts on a great sales spiel.  But what they're selling is mainly sizzle, not steak.  

Last time we subjected ourselves to a Wyndham pitch (for the freebies), the sales rep. even admitted that there is no difference between resale Wyndham points & retail Wyndham points when you limit the discussion just to timeshare condo accommodations.  The difference, he said, is in all the extra benefits you get as Wyndham V.I.P., etc.  

Even agreeing that V.I.P. perks are plenty nice, that doesn't mean those perks are worth the immense price difference between resale & full freight. 

Rescind right away -- before the cooling off period runs out. 

-- Alan Cole, McLean (Fairfax County), Virginia, USA.​


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## Railman83 (Sep 11, 2017)

ServeChilled said:


> We just bought 200k/year points for $30k, with $1,121 yearly MF. Unfortunately, I did not find this website before we went to our presentation (our sales people were actually quite nice thought). Luckily, per our contract, we have until Friday to mail our cancellation, and so I'm on a fact finding mission.
> 
> Ebay currently has contracts for 500k points for less than 3 grand. However, I called our sales manager today and told him this, and his response was these accounts can come with a lot of baggage, and they are "flagged" as resale by the Company. What does that mean?
> 
> ...




If you wait long enough you will have 40 people tell you to rescind.

Do it now, the developer deal will always be there and you could likely do better with another developer deal that will only be 95% over instead of %97 percent over.

Rescind.  Read tug a few weeks and then buy.


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## Karen G (Sep 11, 2017)

If you have any questions or concerns about what you bought, of course you should rescind while you still can. You have just this one opportunity to rescind so take it! That great deal you were sold will still be there if, after you've done your due diligence, you still think it's what you want.  

Don't waste any more time contacting the salesman--he'll say anthing to save the sale. Follow the instructions on rescission in your paperwork. Write a simple letter stating you want to cancel the sale and have all parties who signed the purchase agreement sign the letter. Send it by certified mail so that you'll have the receipt from the post office showing you rescinded within the specified rescission period.


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## Braindead (Sep 11, 2017)

Railman83 said:


> Do it now, the developer deal will always be there and you could likely do better with another developer deal that will only be 95% over instead of %97 percent over.


Huh! Please explain for me. I'm lost.
I'm not here to argue if they should rescind or not. But $150.00 per thousand points is about as good as it gets for a direct purchase.


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## Cedartree105 (Sep 11, 2017)

Follow instructions clearly inside the packaging they gave you. Look carefully and you will find the address. Follow it and mail everyone one listed on paparwork certified. Glad you found TUG! $$$ saved!!


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## Cedartree105 (Sep 11, 2017)

Braindead said:


> Huh! Please explain for me. I'm lost.
> I'm not here to argue if they should rescind or not. But $150.00 per thousand points is about as good as it gets for a direct purchase.


Still 30k for something you can by for less than 2k? It's just not worth paying in my opinion all that $$$


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## Cedartree105 (Sep 11, 2017)

ServeChilled said:


> We just bought 200k/year points for $30k, with $1,121 yearly MF. Unfortunately, I did not find this website before we went to our presentation (our sales people were actually quite nice thought). Luckily, per our contract, we have until Friday to mail our cancellation, and so I'm on a fact finding mission.
> 
> Ebay currently has contracts for 500k points for less than 3 grand. However, I called our sales manager today and told him this, and his response was these accounts can come with a lot of baggage, and they are "flagged" as resale by the Company. What does that mean?
> 
> ...


May I asked what did they ask you? Was it Club Wyndham Access?


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## Railman83 (Sep 11, 2017)

Braindead said:


> Huh! Please explain for me. I'm lost.
> I'm not here to argue if they should rescind or not. But $150.00 per thousand points is about as good as it gets for a direct purchase.


Shorthand I didn't do math.


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## Cyrus24 (Sep 11, 2017)

Rescind.  Perks and PartnersPlus offer deals that are no better than you can get with AARP/AAA/Credit Cards.  I'd rescind and then look for a good resale at a low MF per point location (Panama City Beach comes to mind).  I bought 168K resale at Grand Desert to start my Wyndham journey.  Since then, I will admit to having bought developer points.  But, I knew what I was getting into when I bought those.  Rescind, buy resale, learn, then maybe consider developer for VIP down the road.


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## spackler (Sep 11, 2017)

Rescind.  You need to believe in Enron-type accounting in order to make a developer purchase make sense.

Would you purchase any other large asset (home, boat, car, etc) knowing it would lose 95% of it's value within a week?


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## Sandi Bo (Sep 11, 2017)

The only good use of points is to stay at the resorts. 

Do not buy points because you can use them for cruises or Disney tickets.  It's not cost effective whatsoever.  The only reason to use points for anything but resort stays is because you have too many points and you need to use them (inefficiently).  

If you buy 200K points, it's only a matter time before you attend another sales presentation and purchase another 200K so that you are Silver VIP.  Then at 400K, you'll be enticed to purchase 300K more so you can be Gold VIP.  Now that you are at 700K, you only need 300K to get to 1M and VIP Platinum.  It's a slippery slope. 

Until you get to VIP levels, there is no additional value in your points than the resale points you are seeing on eBay.   

As others have said, and more will follow, rescind while you can.  If you research more, and still decide you want the developer points, there will always be a deal waiting for you. 

Good luck!


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## vacationhopeful (Sep 11, 2017)

Your 200,000 point buy yesterday will be worth $1 -$299 transfer-advertising costs => negative value...after the end of your rescind period.

Get back your $30,000. At 3% interest, that is $900. Take the $900, buy yourself a week on the resale market for $1 and pay your yearly MFs.* Every year.*


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## MaryBella7 (Sep 11, 2017)

I am a full resale owner and have never gotten the "shaft" from my ownership. The VIPs sure have, though!  Any questions specifically let me know - over 1 million points for less than $5K. Almost all very low maintenance fee properties. RESCIND then research.


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## bnoble (Sep 11, 2017)

Karen G said:


> If you have any questions or concerns about what you bought, of course you should rescind while you still can. You have just this one opportunity to rescind so take it! That great deal you were sold will still be there if, after you've done your due diligence, you still think it's what you want.


Karen said exactly what I would say: if you are unsure, rescind, and do your research. If you decide this is the right deal for you, you can always get them to write it for you again. However, if you decide that a resale purchase---or even a purchase in some other system---is right for you, then all the better.


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## ServeChilled (Sep 11, 2017)

Thank you everyone for all of the quick responses. The rescission letter is going out tomorrow morning, and my wife and I have been resale shopping. I truly appreciate the words of wisdom.


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## Egret1986 (Sep 11, 2017)

ServeChilled said:


> Thank you everyone for all of the quick responses. The rescission letter is going out tomorrow morning, and my wife and I have been resale shopping. I truly appreciate the words of wisdom.



Way to go!


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## MaryBella7 (Sep 11, 2017)

ServeChilled said:


> Thank you everyone for all of the quick responses. The rescission letter is going out tomorrow morning, and my wife and I have been resale shopping. I truly appreciate the words of wisdom.




Just an FYI - It is easy to get excited when resale shopping because the prices are SO much better. Still research. A low maintenance fee property may cost a little more up front, but a lot less down the line. Also consider where you plan to visit. Some places are much more difficult to visit, so if that is important to you, ask more questions before buying.


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## cayman01 (Sep 11, 2017)

When shopping resale be aware of maintenance fees. You will see stuff you can get for free that usually carry very high maintenance fees. Better to pay a little more upfront to save a lot on the back end. Panama City Beach, South Shore, Bali Hai, National Harbor are a couple with low MF's.

 Also, understand that the closing process is taking quite a bit of time these days with Wyndham. Don't expect to be able to use any 2017 points. Just no way a contract is going to get transferred to you that fast.


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## AwayWeGo (Sep 11, 2017)

MaryBella7 said:


> Just an FYI - It is easy to get excited when resale shopping because the prices are SO much better. Still research. A low maintenance fee property may cost a little more up front, but a lot less down the line. Also consider where you plan to visit. Some places are much more difficult to visit, so if that is important to you, ask more questions before buying.


Truer words were never typed.

We bought resale out of bigtime excitement at discovering the huge difference between full freight ($22,500 at the time) & resale ($3,500).  After absorbing the essential big initial lesson about buying resale, we started our education into the real world of timeshares & timeshare vacationing with that purchase.  That is to say, we learned by doing rather than by doing careful research before doing.  By & large, we avoided critical mistakes.  But that is not to say we wouldn't do some things differently if we were starting out now with the advantage of the knowledge we gained by learning while doing.  However that may be, what could have happened, did.  And we're still on board with resale timesharing, although on a much smaller scale than at our heyday. 

A revised version of our (mostly) complete timeshare story is on TUG-BBS.  Here's the link for that . . .

http://www.tugbbs.com/forums/index....and-is-it-worth-it.243762/page-2#post-1903173 

-- Alan Cole, McLean (Fairfax County), Virginia, USA.​


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## rickandcindy23 (Sep 11, 2017)

Good for you for investigating before it's too late.  Wyndham is not a good purchase from the developer.


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## Pietin (Sep 11, 2017)

I would add while it is great to get buy a resort (resale of course) with low maintenance fees, I would balance this where you would like to stay.  If you want to stay at harder to get into resorts like Glacier Canyon, New Orleans, or Bonnet Creek for holidays, I would by there or CWA.  This way you can get ARP at resorts you want to stay at.  

Good luck and welcome to the journey.


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## dgalati (Sep 12, 2017)

Cedartree105 said:


> Still 30k for something you can by for less than 2k? It's just not worth paying in my opinion all that $$$


Resale contracts can be bought for under $500 every day of the week.


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## dgalati (Sep 12, 2017)

rickandcindy23 said:


> Good for you for investigating before it's too late.  Wyndham is not a good purchase from the developer.


Not a good buy developer or resale. Rent points from a VIP for less then maintenance fee cost.


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## Braindead (Sep 12, 2017)

dgalati said:


> Not a good buy developer or resale. Rent points from a VIP for less then maintenance fee cost.


Are you advertising?  Almost every post rent-rent-rent


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## wjappraise (Sep 12, 2017)

Braindead said:


> Are you advertising?  Almost every post rent-rent-rent



It's probably outdated advice as well.  With the changes to canceling and booking, the ability of VIP owners to rent at low prices has been greatly eroded.  About the only opportunity for such is a reservation made at 60 days or less.  The last minute ones.  


Sent from my iPhone using Tapatalk


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## dgalati (Sep 12, 2017)

Not advertising. Here is my full disclosure: I do own a small amount of points, I have always bought resale, I am not a VIP and I do not rent my points to others. Just stating a opinion from my personal experience as follows --- It is cheaper to rent from a VIP most of the time then to own and pay maintenance fees.


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## dgalati (Sep 12, 2017)

wjappraise said:


> It's probably outdated advice as well.  With the changes to canceling and booking, the ability of VIP owners to rent at low prices has been greatly eroded.  About the only opportunity for such is a reservation made at 60 days or less.  The last minute ones.
> 
> 
> Sent from my iPhone using Tapatalk


Yes you are correct VIP discount within 60 days. I have booked  all within the 60 day limit.


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## TUGBrian (Sep 12, 2017)

congrats on finding TUG in time to rescind and save a fortune!


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## Dubage (Sep 12, 2017)

After buying from the developer and having 105,000 points, can purchased resale wyndham points be combined with those?

Thanks!


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## Braindead (Sep 12, 2017)

Dubage said:


> After buying from the developer and having 105,000 points, can purchased resale wyndham points be combined with those?
> 
> Thanks!


Yes. They can be combined to make reservations at 10 months or less. They also can be combined for ARP if the contracts are at the same home resort. On ARP CWA can be combined with CWA points but you cannot combine CWA with UDI points for an ARP reservation.

Resale points will not count towards you obtaining VIP tiers of ownership.


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## wjappraise (Sep 12, 2017)

dgalati said:


> Yes you are correct VIP discount within 60 days. I have booked  all within the 60 day limit.



That is about the only way to make VIP have any added value over and above resale anymore.  

As I read my post, I appear to be more disagreeable than my intention.  Sorry about that.  I have allowed my irritation with the changes to my expensively purchased VIP account spill over into some of these posts.  It is ironic that the most recent changes have completely removed any motivation an "informed" buyer would have considered in purchasing developer points to reach VIP.  There is absolutely no reason to do that anymore (even though the reasons before were a stretch at best).


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## Braindead (Sep 12, 2017)

dgalati said:


> Yes you are correct VIP discount within 60 days. I have booked  all within the 60 day limit.


That is why it is bad advice when you make blank statements advising rent-rent-rent. When you have no idea what the OPs travel needs are.
If they are tied to school schedules or if they want to travel event weeks or weekends your advice is bad advice


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## dgalati (Sep 12, 2017)

Braindead said:


> That is why it is bad advice when you make blank statements advising rent-rent-rent. When you have no idea what the OPs travel needs are.
> If they are tied to school schedules or if they want to travel event weeks or weekends your advice is bad advice



 Sorry I was not looking to mislead. Just posting a point of view. If you can make it work buying up to VIP or If you feel owning and paying maintenance fees is better or is less $ then renting great.  I have found a way to make it work for me at a lower cost then owning. Everyone's point of view or situation may differ. Many have found a way to make it work for their different needs. I own but have also rented points at a lower cost then paying maintenance fees.  Disclaimer Do your own due diligence, everyone's situation may vary and renting may not be in your best interest. You may want to buy VIP from developer( I do not advise buying developer at any price)I am not advertising rentals, I do own deeded points( I feel CWA maintenance fees are to high), I only buy resale and this is just my honest opinion.


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## Braindead (Sep 12, 2017)

dgalati said:


> Not a good buy developer or resale. Rent points from a VIP for less then maintenance fee cost.


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## Braindead (Sep 12, 2017)

dgalati said:


> Sorry I was not looking to mislead. Just posting a point of view. If you can make it work buying up to VIP or If you feel owning and paying maintenance fees is better or is less $ then renting great.  I have found a way to make it work for me at a lower cost then owning. Everyone's point of view or situation may differ. Many have found a way to make it work for their different needs. I own but have also rented points at a lower cost then paying maintenance fees.  Disclaimer Do your own due diligence, everyone's situation may vary and renting may not be in your best interest. You may want to buy VIP from developer( I do not advise buying developer at any price)I am not advertising rentals, I do own deeded points( I feel CWA maintenance fees are to high), I only buy resale and this is just my honest opinion.


This is what you should've posted instead of the previous post.Everyone's situation is different and it's not a one shoe fits all.
In some situations the best advice is to rent but not all. I just don't like the blank statement advice when posters have no idea what the OP situation and goals are.


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## ServeChilled (Sep 12, 2017)

My goal was to not waste 30 grand haha. Everyone's insight has been terrific, I know more from a few hours of reading here than I do from the 6 hours we spent at that presentation.


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## dgalati (Sep 12, 2017)

Braindead said:


> This is what you should've posted instead of the previous post.Everyone's situation is different and it's not a one shoe fits all.
> In some situations the best advice is to rent but not all. I just don't like the blank statement advice when posters have no idea what the OP situation and goals are.


Agree Wyndham is a great product just find a way to make it work for you.


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## ronparise (Sep 12, 2017)

dgalati said:


> Resale contracts can be bought for under $500 every day of the week.



That's not really true, closing costs and transfer fees are $500 or more. If you do get something for just $500 it's not enough points to be worthwhile or the mf if so high that you wouldn't want it, or both


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## Braindead (Sep 12, 2017)

ServeChilled said:


> My goal was to not waste 30 grand haha. Everyone's insight has been terrific, I know more from a few hours of reading here than I do from the 6 hours we spent at that presentation.


It never hurts to start out with resale points or even renting to get a feel if Wyndham resorts are for you.
There are a few of us that did go back and obtain VIP level of ownerships even after buying resale points first.
Do your due diligence and learn the system. Then you'll be able to determine what's best for you.
Good Luck! Happy Vacationing ! And welcome to TUG!!


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## bendadin (Sep 12, 2017)

ServeChilled said:


> My goal was to not waste 30 grand haha. Everyone's insight has been terrific, I know more from a few hours of reading here than I do from the 6 hours we spent at that presentation.


 
Six hours?!? That is so wrong!

Don't rush into your resale purchase. It takes some time to really assess your family's needs. For reference: My first resale was 140K annual for $500 closed. I then purchased a 210K EOY at Bonnet Creek for $610 closed and then was given a 126K EOY at Panama City Beach for $299 (transfer fee.) And then I got a 400K CWA for $1 (which I didn't even have to pay.) So at the end of the day, I have 540K odd year and 876K even year for about $330/month in maintenance fees.

I've had a few bumps with the ins and outs of using EOY points, but I am a last minute traveler so I actually like using points in the Express window. And your vacation wants and needs will change over time. Congratulations on the rescission decision!


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## Dave Landry (Sep 12, 2017)

dgalati said:


> Sorry I was not looking to mislead. Just posting a point of view. If you can make it work buying up to VIP or If you feel owning and paying maintenance fees is better or is less $ then renting great.  I have found a way to make it work for me at a lower cost then owning. Everyone's point of view or situation may differ. Many have found a way to make it work for their different needs. I own but have also rented points at a lower cost then paying maintenance fees.  Disclaimer Do your own due diligence, everyone's situation may vary and renting may not be in your best interest. You may want to buy VIP from developer( I do not advise buying developer at any price)I am not advertising rentals, I do own deeded points( I feel CWA maintenance fees are to high), I only buy resale and this is just my honest opinion.



Totally agree with you about renting. We have rented for many years and with the exception of daytona 500 weekend and bike week it has always been less expensive than owning. We are in the process of purchasing resale at panama city beach so that we can book 1 bedroom units 10 months in advance on our own knowing it may be at the same cost or higher than renting but will be able to get full weeks without multiple reservations. We do still plan on renting if we need larger units.


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## Larry M (Sep 16, 2017)

cayman01 said:


> Also, understand that the closing process is taking quite a bit of time these days with Wyndham. Don't expect to be able to use any 2017 points. Just no way a contract is going to get transferred to you that fast.



That's not a problem, however. For 2017 you can simply find a resonably-priced rental on the TUG Marketplace.


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