Why do Wyndham contracts on eBay sell for less than closing costs when Certified Exit exists?

[Fido Chuckwagon]

I don’t really understand this. Even if every auction on eBay is from a third party postage stamp company / timeshare exit company that in turn charged a fee to the true owner to “dispose” of the resort, why wouldn’t they just take their money and then initiate certified exit on their behalf? I’m seeing a lot of Wyndham contracts selling for less than $399 on eBay, so even if these places are doing the closings in-house so all they’re out is the recording fee, they would still need to pay the transfer fee. And I don’t think the transfer process is any quicker than certified exit, is it? I don’t get it.

I’m not complaining, I’ve gotten all my Wyndham contracts for really cheap, and some for less than closing costs, I just don’t get it.

 

[dioxide45]

People don't know about Certified Exit and instead go with some exit company that then filters them through Ebay for unloading. So in reality they paid thousands to get rid of it when Certified Exit exists. People don't research when they buy the timeshare and the same thing happens when they want out. They fall into the trap of the sales pitch by the exit companies and get ripped off again.

The timeshare companies refuse to work with owners who have signed up with these exit companies. Once the timeshare company knows you are paying one of them, they stop working with you. They don't want to make it look like the exit companies are successful, so they won't take the contracts back from the owner at that point.

 

[rickandcindy23]

We couldn't use certified exit. Wyndham said absolutely not. We waited to get paperwork for two months after calling title to get it started. Called title and they said it was refused by someone higher up.

 

[jp10558]

I would still prefer to at least try and sell / give away via resale to "pay it forward" vs taking these points out of circulation only to the developer. Then again, IDK if I'd pay lots of money to do so, but I might throw down a couple hundred.

 

[Fido Chuckwagon]

The timeshare companies refuse to work with owners who have signed up with these exit companies. Once the timeshare company knows you are paying one of them, they stop working with you. They don't want to make it look like the exit companies are successful, so they won't take the contracts back from the owner at that point.

Ah, that's the piece I was missing. Thank you.

 

[Fido Chuckwagon]

We couldn't use certified exit. Wyndham said absolutely not. We waited to get paperwork for two months after calling title to get it started. Called title and they said it was refused by someone higher up.

Yeah, I think your situation was somewhat unique though, unless you think Wyndham took a similar line with other high-volume renters? Even so, I doubt former high volume renters used exit companies to try to dump their Wyndham points, you'd think they'd be more sophisticated than that.

 

[waginger]

I don’t really understand this. Even if every auction on eBay is from a third party postage stamp company / timeshare exit company that in turn charged a fee to the true owner to “dispose” of the resort, why wouldn’t they just take their money and then initiate certified exit on their behalf? I’m seeing a lot of Wyndham contracts selling for less than $399 on eBay, so even if these places are doing the closings in-house so all they’re out is the recording fee, they would still need to pay the transfer fee. And I don’t think the transfer process is any quicker than certified exit, is it? I don’t get it.

I’m not complaining, I’ve gotten all my Wyndham contracts for really cheap, and some for less than closing costs, I just don’t get it.

The other catch with Certified Exit is Wyndham picks and chooses which contracts they will take back. Not everything is eligible. eBay may be the only option left for some.

 

[rickandcindy23]

Yeah, I think your situation was somewhat unique though, unless you think Wyndham took a similar line with other high-volume renters? Even so, I doubt former high volume renters used exit companies to try to dump their Wyndham points, you'd think they'd be more sophisticated than that.

Yeah, for a big company, Wyndham can sure pick on the little guy. We were still small potatoes in the rental business. I know of people who had tens of millions of points before the hammer came down on rentals. They aren't talking here on TUG about their experiences with deeding back.

 

[Fido Chuckwagon]

The other catch with Certified Exit is Wyndham picks and chooses which contracts they will take back. Not everything is eligible. eBay may be the only option left for some.

Some of these are low maintenance fee contracts that you would think Wyndham would want though (Grand Desert appears to be selling for less than closing costs on ebay generally).

 

[Fido Chuckwagon]

Hell, for that matter I just won a 64k annual Bali hai contract (30 minutes ago) for $220.50 with a free closing (here's hoping that one doesn't end up being scammy, the seller only has a feedback rating of 7, but they are for previous timeshare sales). I have to imagine Wyndham would have taken that one back... I guess it must just be the exit companies unable to use certified exit as @dioxide45 indicated.

 

[paxsarah]

Hell, for that matter I just won a 64k annual Bali hai contract (30 minutes ago) for $220.50 with a free closing (here's hoping that one doesn't end up being scammy, the seller only has a feedback rating of 7, but they are for previous timeshare sales). I have to imagine Wyndham would have taken that one back... I guess it must just be the exit companies unable to use certified exit as @dioxide45 indicated.

I was looking at that one! Good catch!

 

[noreenkate]

Even so, I doubt former high volume renters used exit companies to try to dump their Wyndham points, you'd think they'd be more sophisticated than that.

Most of my eBay contracts came from those post card type companies…

The first of my EBay contracts I received a nasty gram in the mail from Wyndham. The previous owner had been renting them therefore I had restricted use guest of certificates.

The points were punished even with new owners.

 

[chapjim]

Most of my eBay contracts came from those post card type companies…

The first of my EBay contracts I received a nasty gram in the mail from Wyndham. The previous owner had been renting them therefore I had restricted use guest of certificates.

The points were punished even with new owners.

I remember that from quite a while ago -- the "tainted" contract! Makes no more sense now than it did then.

 

[rickandcindy23]

I remember that from quite a while ago -- the "tainted" contract! Makes no more sense now than it did then.

True. I wonder if everyone who received our contracts got the same negative note.

 

[jeff123]

I wonder if everyone who received our contracts got the same negative note.

I haven't received anything yet.

 

[rickandcindy23]

I haven't received anything yet.

Good! I am happy that you didn't get the nasty letter.

 

[Fido Chuckwagon]

I was looking at that one! Good catch!

Thanks! I was going to get it at $20.50 till someone bid it up in the last 10 seconds! I wonder if it was a Tugger. In any event, yeah, I'm pretty happy with that one.

 

[TUGBrian]

companies cant charge money if they simply told wyndham owners they could give it back for free and I dont believe wyndham will work with a 3rd party for a deedback.

 

[stevenh21]

I have been watching this thread concerning info on certified exit. We have owned a fixed week 24 at Club Wyndham Villas at Fairfield for 34 years, formerly known as Fairfield Plantation. We stayed there the first year and enjoyed the unit and the area. We could trade to other Fairfield resorts for $35 through FAX Exchange. I think FAX disappeared after Wyndham took over. We have since traded through RCI, occassionally losing a couple of orphaned TPUs. It does receive 27 TPUs annually.
In the last 3 years we have been unsuccessful in trying to convert to Club Wyndham points, "not eligible." I contacted Wyndham Certified Exit 2 weeks ago, again "not eligible." We are staying in our unit beginning Saturday and plan to take many photos and check out the condo. By the way the resort says they don't do deed backs and we have to sell or gift it. It does have it's own Wyndham contract number, but Wyndham does not manage the resort.
In our case, neither points conversion or Certified Exit are available from Wyndham.