Mistake or No???

[MacGyver]

I just bought 126,000 points (and all the extras) from the Wyndham Grand in Clearwater Beach for $21,000. I’m still within my 10 days. Did I get a good deal?

 

[bnoble]

No. Rescind.

 

[ridgerunner71]

Florida is 5 days, I would rescind. Buy resale on ebay.

 

[claraj]

You will learn soon that buying direct is rarely a deal.

 

[1Melanie]

I just bought 126,000 points (and all the extras) from the Wyndham Grand in Clearwater Beach for $21,000. I’m still within my 10 days. Did I get a good deal?

That’s a lot to pay for so few points. My portfolio now consists of all developer points but we never paid that much for them. There are ways to get developer points without being gouged. I agree with everyone else. Buy points on eBay.

 

[MacGyver]

That’s a lot to pay for so few points. My portfolio now consists of all developer points but we never paid that much for them. There are ways to get developer points without being gouged. I agree with everyone else. Buy points on eBay.

What’s the difference between “developer” points vs resale? And how are “access” point treated differently than “deeded” points?

 

[rickandcindy23]

Definitely rescind. Developer points in that small # are not even worth $100.

You can buy a week at a resort Wyndham has taken over, a deeded week, contact Wyndham to convert it to Wyndham points for $0 and have a better ownership. You can do that multiple times over for what you paid.

I would rather own something Marriott/ Sheraton at this point in my life, but we are not buying anything else, or the man sitting next to me in his comfy chair will not be happy. Done buying timeshares for now and maybe forever. Even selling some.

 

[rickandcindy23]

What’s the difference between “developer” points vs resale? And how are “access” point treated differently than “deeded” points?

No real difference to make it worth the cost of owning. Actually, I cannot think of any difference between resale and developer.

Access points can get reservations ahead of other owners into resorts that they do not own outright. CWA has high MF's. For example, we own in the Hawaii club, and I can access Hawaii ahead of everyone else who doesn't own Hawaii, but I cannot reserve Bonnet Creek until 10 months out. I don't own Bonnet Creek.

If you have to own Wyndham, look at the maintenance fee spreadsheet for 2024 and make your determinations that way. The lesser the MF's, the more you save on stays.

 

[1Melanie]

What’s the difference between “developer” points vs resale? And how are “access” point treated differently than “deeded” points?

Developer is bought from the company. Resale is bought on the secondary market like eBay or thru other companies. Access gives you the right to book. Deeded you actually own a % share of the unit. There are pros and cons to each. There are many discussions on the forums that look at both/all sides. For new owners just wanting a vacation, resale is the way to go. If you are planning long term, developer may be right for you. Depends on what your goals are. Be aware even buying developer, access or deeded, points can be bought off a list of close outs (or returned inventory) and negotiated on. Not as cheap as eBay but cheaper than what’s offered at a sales presentation. You can get lots of points for pennies on the dollar. Just watch the maintenance fees. Some are more than others. That info too can be found on previous discussions.
Access and deeded are pretty much treated the same. The biggest difference is with developer and resale.
Only developer points can count towards VIP status or eventual discounts as your portfolio grows. Resale never will.

 

[jp10558]

I believe right now there's an e-bay auction for 434,000 pts that's at $10.50. So... not a good deal. I got 405,000 for $2,000 including closing costs and such, and many would say I paid too much on ebay for that.

 

[Fido Chuckwagon]

I just bought 126,000 points (and all the extras) from the Wyndham Grand in Clearwater Beach for $21,000. I’m still within my 10 days. Did I get a good deal?

Rescind immediately. Wyndham points can be obtained basically for free on eBay.

 

[bnoble]

What’s the difference between “developer” points vs resale? And how are “access” point treated differently than “deeded” points?

Rescind first. Then you can take your time and learn all about it. If you decide this was a good deal after all, you can call them up and ask them to write it again. They will fall all over themselves to do it.

 

[MacGyver]

Rescind first. Then you can take your time and learn all about it. If you decide this was a good deal after all, you can call them up and ask them to write it again. They will fall all over themselves to do it.

Good advice, and I suspect you’re right. Thanks.

 

[kanerf]

I purchased 640,000 last year for $400, rescind now.

 

[jp10558]

I purchased 640,000 last year for $400, rescind now.

Dang, where did you find this deal? I guess probably not ebay.

 

[kanerf]

Dang, where did you find this deal? I guess probably not ebay.

It was on eBay.

 

[Fido Chuckwagon]

Dang, where did you find this deal? I guess probably not ebay.

CWA is basically free on eBay right now (less than closing costs). If you really want CWA, just stalk a few eBay auctions for a few weeks and use a last-minute bidding strategy and you’ll be able to grab one.

 

[ridgerunner71]

What’s the difference between “developer” points vs resale? And how are “access” point treated differently than “deeded” points?

No difference in how you use the points. Just in what you pay for them. Maintenance fees are the same regardless.

The only real difference other than initial cost is that you can't be VIP with resale. Which at this point VIP is not worth the costs

 

[jp10558]

Ahh, I was avoiding CWA. The recent one I saw had like $1,000 in closing costs, as did my purchase last year, so I like to include those (it also had MF reimbursement, which seemed like asking a lot, but I guess someone went for it).

CWA is basically free on eBay right now (less than closing costs). If you really want CWA, just stalk a few eBay auctions for a few weeks and use a last-minute bidding strategy and you’ll be able to grab on

 

[bnoble]

There is one other small difference: resale points cannot be used for Club Pass reservations in WorldMark resorts. That's definitely not worth the price, but it is a difference.

 

[TUGBrian]

congrats on finding TUG in time to rescind and save 21k!

 

[LannyPC]

Florida is 5 days, I would rescind. Buy resale on ebay.

Actually, the OP is correct. It's ten days in FL.

 

[MacGyver]

Thanks to everyone for the advice, I just sent two (redundancy) notarized letters canceling my purchase of the contract. One via FedEx, the other USPS both “receipt signature requested”. Once the refund goes through I’ll start shopping e-bay. can anyone give any insight into the process to by “resale” points. Is it all online? Who informs CWA of the change in ownership? How long does it take to transfer set up the account?

thanks again.

 

[Fido Chuckwagon]

Thanks to everyone for the advice, I just sent two (redundancy) notarized letters canceling my purchase of the contract. One via FedEx, the other USPS both “receipt signature requested”. Once the refund goes through I’ll start shopping e-bay. can anyone give any insight into the process to by “resale” points. Is it all online? Who informs CWA of the change in ownership? How long does it take to transfer set up the account?

thanks again.

Congratulations! Use an eBay reseller with good feedback **who has previously sold timeshares.** They all use closing companies (sometimes in-house) that handle all aspects of the deed closing, preparation, recording, and timeshare transfer process. Be aware that the process takes a long time from eBay sale to you actually having an account with points in it. Average time is probably around 3-4 months right now but with a possibility of up to 6 if there are any hiccups.

You probably don’t need CWA. The most important thing when buying a Wyndham account is the maintenance fees per thousand and CWA is somewhat high at $7.65 per 1,000 plus the programming fee of $.70 per 1000. Where are you looking to stay and when? In most resorts in Wyndham at most times (save a few high demand resorts at very high demand times) you can get a 2 bedroom standard unit at the 10 month window where all points can be used. Thus it’s usually a better strategy to purchase a deeded resort with lower maintenance fees than CWA. At the 10 month window “points are points” and can be used anywhere.

 

[ridgerunner71]

As far as "needing" CWA, usually the answer is NO. But depending on how you travel, and when you travel, there may be compelling reasons to own CWA. But you pay more for it in the long run.

An example, I have been an owner for more than 10 years, in that ENTIRE time, i've never not been able to get a booking I needed at the 10 month mark, which is what i'm entitled to.

Next year I was looking to take my family somewhere at Christmas that is a high demand resort and am running into issues booking at 10 months, First time in all that time I have not been able to get what I want, so I have to look elsewhere.

The combination of "christmas" + "high demand resort" = inability to book at 10 months.

You can see this comes up extremely infrequently for me, but for you it might might be more of an issue.