# Help! Newbie with Wyndham Cypress Palms



## sherrybaby (Nov 15, 2011)

Hello everyone,

I am drowning in information I don't understand. I've been reading here, giving up, and starting over for about a year, and now I really need to do something about this timeshare. Here is my situation; ANY advice is truly welcome! 

First of all, I am not the owner. My grandfather is the owner of 128k points at Wyndham Cypress Palm in Kissimmee, FL that he purchased in 2008 direct from the company when it used to be FairShare Plus. He is over 90, recovering from a broken hip, and living overseas. He will probably never return to the States. I volunteered to help him sell it after looking online, finding you all, and getting the mistaken idea that I would be able to sort things out. Now it's nearing the end of the year and I just really want to do something with it before he has to pay property taxes. I can't pay the monthly fees/taxes or I'd buy it from him myself. He is in relatively good mental/physical health, but this is something he doesn't need to be paying for.

I had also considered just banking this years and next years points with RCI, getting my family to split the fees (possible nightmare), and using it for an extended family reunion near where my grandfather now lives. We are up to date with fees up until this month.

Given the time constraint, what are my options? Is this timeshare valuable enough to try to sell it quickly? What about getting an exchange through RCI that I could rent out soon? I'd really hate to give it away, b/c my grandfather paid retail for it and was hoping to get a little back for his bills. If he DID give it away, would it hurt to bank this year's points first? On second thought, will he still keep the RCI points after the timeshare is sold/transferred, or will it be sold along with the Cypress Palms points?

Please help! I appreciate the extent of experience and knowledge from the members here!

Thanks so much,
Sherry


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## Cheryl20772 (Nov 15, 2011)

sherrybaby said:


> My grandfather is the owner of 128k points at Wyndham Cypress Palm in Kissimmee, FL that he purchased in 2008 direct from the company when it used to be FairShare Plus.


Sherry,  I'm sorry, but the sad reality is that your Grandfather's timeshare is just not worth very much on today's resale market.  If you go to eBay and do a search for that timeshare resort and restrict your search result to completed sales, you will likely find that people haven't even been able to sell them for a dollar.  

I think your best bet is to try and give it away on this forum in the Bargain deals thread.

This will only work if the resort is free and clear of any mortgage.  If he still owes any money on it, I don't think he can recover anything.  It's a harsh reality, I know.  It's possible he was sold, as I was, with the idea that it would appreciate like other real estate.  In today's market even regular houses have lost half their value.  Timeshares are a luxury product and they have taken a much harder hit.

I wish you well.


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## ronparise (Nov 15, 2011)

Does your grandfather owe anything on this or does he own it free and clear (no mortgage. 

If there is no mortgage than I think Cheryl's advice is best..give it away either here. Other possibilities are to list it with a real estate broker that deals in timeshares. (there is at least one that is a member here on TUG) or sell it yourself...ads on Craigs list or ebay are possibilities. As Cheryl said, the value is near zero, but there are folks that would like to add to their Wyndham points, As difficult as it may be, to think about, you will increase your chances of giving it away by offering to pay closing costs, Wyndhams transfer fee and perhaps next years maintenance fee.

If there is no mortgage you can stop reading here....

If there is a mortgage, then you cant even give it away..Your only hope i(and I think its a good one) is to get Wyndham to take it back. They will resist, and the fight wont be fun, but given the circumstances you describe....(hes 90 years old and not able to travel) I think its very possible that they will take it back

The last possibility; and I dont recommend it is:  just stop paying. Whether its the mortgage and maintenance fees, or just maintenance fees, just stop paying...either they will contact you and accept a deedback, or they will foreclose. Either way your grandfather wont own it any more.  Of course he may be hounded by collections companies and his credit may be shot. Some folks at my age would say who cares......I cant speak for your grandfather but if I was 90 and living out of the country, Id probably take a who cares attitude


You dont say and Im hesitant to ask but is your grandfather able  to manage his own financial affairs? Are you doing this because he is out of the country, or because he cant do it even if he was here?...My real question is; was he taken advantage of in 2008? when he was only 89 or so. I would be tempted. even if it wasnt true to make the case that he was the victim of an over eager salesman. I bet there is someone in Wyndham so afraid of having to defend their salesman's actions that they would take it back in a heartbeat

Good Luck


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## vacationhopeful (Nov 15, 2011)

A good idiot friend of mine brought Cypress Palms around that time also (and direct). 168K pts and ODD year, too. He did not tell me for 3 months; his saleswoman promised him she would be his personal advisor and help him book all his trips. Yep, well dressed, "single", his age, and him (an old fool and his money were easily parted). And he was 25 years younger than your grandfather.

As for the number of points he owns, those are NOT many. Off-season and older resorts, you can get you a week or two in a 1bdr. Like Patriot Place in Williamsburg in mid January in a 1bdr (3 weeks in a studio). You can get a 1bdr at his Home Resort in Prime season.

If he is "stuck" with the points, I suggest you credit pool his 2012 points before the end of Dec. Might try credit pooling his 2013 points at the same time. It would cost $39 but it would extend their life for 3 years (to use for a large family vacation) and to collect funds from the other family members. This years 2011 points must be deposited ASAP into RCI -- if your grandfather HAS his RCI account setup. Most direct buyers do have that account - but you need to determine that in case you have to get it setup.

Yes, no one likes spending money which they think is just being thrown away. But keep reading and asking questions. If he does NOT have a loan (it is paid off), the MFs are about $75 a month ($20 a week). You could budget that into your life and drive to a vacation each year; I travel almost every Thanksgiving which is low season at many resorts (as does my sister & her family). 

And Welcome to TUG!


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## rrlongwell (Nov 15, 2011)

I would would get the timeshare transfered into someone else's name prior to death or there are going to be expensive estate issues to be dealt with.  Put all points you can into the credit pool and not RCI.  This years points just go ahead and use somewhere, you or your family or friends.  Or in the altenative, talk to an attorney first, but have your grandfather will it to someone that may want to be VIP or Gold or Platium under VIP (see member directory page 287).  They would still need a total of 300,000, 500,000, or 1 million eligable points.  A guest pass could then be used for the years you grandfather does not want to use it.  Credit Pool points will go with the timeshare.  Do not know about RCI.  Last I heard, RCI still permitted transfer of weeks to other RCI member's accounts.  Do not know what happens to the RCI weeks upon sale of the timeshare.  Maybe someone else could answer this or call RCI.


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## paxsarah (Nov 15, 2011)

You've gotten some good advice here - I especially agree with credit pooling the 2012 points right away, and depositing 2011's to RCI if possible.



sherrybaby said:


> Now it's nearing the end of the year and I just really want to do something with it before he has to pay property taxes.



I just wanted to point out that there is very little chance that you will get a transfer completed by the end of the year, even if you found a taker today. I think it's a great idea for you to help your grandfather get out from under this obligation for good, but it will probably be a longer process and may involve paying another year's worth of MFs and taxes. If you can get Wyndham to work with you, it may not be an issue, but if you end up having to sell/give it away it will take a bit longer.


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## sherrybaby (Nov 15, 2011)

*Thank you* so much for all your answers!! It really help tremendously in clearing things up.

To answer some questions, YES, the mortgage is paid off, YES he is set up with RCI, and NO, my grandfather is not senile. He moves around and thinks like he's 70. I've seen 60 yr olds in worse condition than he is. But he IS over 90, and he needs the money for other things... prescriptions, health care, insurance, etc.

He owns a house and a car in the States. Honestly, he was considering just not paying and dropping it, but we don't want to risk losing his properties. They will go after those, right?

So the fastest way to get rid of it is through Wyndham? I'll call them today. I could most definitely pull the "taking advantage of seniors" card since he was in his latter 80s, since english is not his native language and I even have his paperwork with the numbers on it saying his points will more than double in value. but I'm not good at that and will have to practice speeches in front of a mirror...

What's the benefit of credit pooling vs RCI? I thought RCI has better options to use the points. Is there a benefit in credit pooling 2012 points before giving it away?

Otherwise, I guess I'll just have to put pressure on the family members to help with fees for at least another year, while I work on finding a taker. Will having banked points with RCI/credit pool be more enticing to buyers, or should we just find a way to use them first?

I'm dreading the talk I'm going to have with my grandpa.

Again, thank you all!


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## simpsontruckdriver (Nov 15, 2011)

Even though it has been said elsewhere on the board, if you want to sell it, DO NOT pay anything up front! I bought 128000 points at Star Island (a mile or so from Cypress Palms) a few months ago for $1 + transfer fee + closing costs + 3 months Maintenance Fees. Could I have paid less? Probably, but I did not know. I am perfectly fine with the purchase price! So, it's either WILL it to someone else and/or have relatives pitch in, or sell it for next-to-nothing.

TS


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## rrlongwell (Nov 15, 2011)

*

Wether you use the points or let them go with the timeshare, you should credit pool the points to perserve them until use.  You get three years to use them or the purchaser does.  If you use the 2012 points it would make a sale less desirable.  I would not default on the contract, that would make the points not usable and would complicate the sale.  If you have it in writing that the points would double in value, you may want to consult with an attorney.  When you call Wyndham, ask for the Escalation Department, they have more settlement authority.  They are the ones that might be able to make adjustments based on a written double the value of points comment.*


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## texastom (Nov 15, 2011)

*What to do with Wyndham points*

Note to sherrybaby: My sympathies to you. I have a similar situation, in which my father passed in 2008 away leaving 1.2million Wyndham points in his estate and none of his heirs wanted them, because we all considered the Wyndham points as toxic assets. On behalf of the estate, I volunteered to place reservations online with those points and then placing the reservations into the Wyndham Extra Holidays (EH) rental program. EH charges no upfront fees to list the rental, but does take 40 percent of the rental proceeds as commission. Within 6 weeks after the rental week, EH then sends me a check for 60% of the rental amount, which I deposit into the same estate account from which the maint fees are paid. In this way, I reduce the losses of Wyndham ownership and recoup about 90 percent of the maint fees. It's still a net loss, but maybe someday (many years from now) when my brother and sister and I retire, we might be able to use them ourselves. Once in awhile, EH pulls a gotcha by refusing to accept my reservation for rent, when they want to force a monopoly by renting only inhouse. More on this racket later.


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## ausman (Nov 15, 2011)

texastom said:


> On behalf of the estate, I volunteered to place reservations online with those points and then placing the reservations into the Wyndham Extra Holidays (EH) rental program.



As I get ollder, estate questions are happening, when will your father's estate be closed/finalised.?


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## rrlongwell (Nov 15, 2011)

basham said:


> As I get ollder, estate questions are happening, when will your father's estate be closed/finalised.?



I know this was not asked of me, however, that is how I got into Wyndham.  I took the Wynhdam timeshares to prevent two estates from going to war over which one had to take them.  My mother died in November 2008 and my step father died in June 2009.  The times shares caused some of the initial delays in processing the estate.  They owned both Wynhdam and non-Wyndham timeshares.  All timeshares ended up going to my step father's estate.  That ended up costing that Estate a lot of money.  As the expenses related to the Wynhdam timeshares, I took care of most of them.  The timeshare issue is still holding up the final closing of my step-father's estate and continues to be a drain on the remaining assests of the estate for the remaining non-Wynhdam timeshares.  The timeshares need to be transfered to a different legal enity prior to death is my personel opionion.  The major problem, if the timeshares end up in the estate, is that ancillary estates need to be opened in every state that one is located in if not in the state of residence at death.  Other problems exist if they are timeshares not in the U.S.  If the heirs do not agree on what to do, then things can go down hill real fast.


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