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Ovation or Resale on CWA Contract

whitewater

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Ok Tuggers, I have too many timeshares... Looking to skinny down. Long story is we took a couple of weeks from my in-laws and are using those and some of the Wyndham/CWA are now viewed as overhead.

I have 3 CWA Contracts of various sizes. I'm planning on listing/selling Jan 2018 as I have used the points and still have outstanding reservations running through Christmas.

Contract in Question is a 545k CWA contract owned free/clear. Reciprocal Resort: Fairfield Glade

Looking for opinion on two routes.
  • Resale via Tug or Ebay (thoughts or ideas)
  • Give back via ovation
Considerations:
  • Any pros or cons with going either route?
    • Would the additional closing time (MFs paid) & closing costs eat into any profits realized vs. 10 day closing with ovation (think I read this was avg. closing time)?
  • Also would welcome thoughts on a fair price if I chose to sell.

PS. A note to brokers/timeshare angels or rescue folks: I don't need any help selling... :)
 

Avislo

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Plenty of time to try selling it first under the terms you outlined and if it does not sell on acceptable terms try the other.
 

ronparise

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Ovation is quick. A sale, not so quick and you will be paying maintenance fees until the transfer is complete and someone has to pay the transfer fee. My guess is that the fees you have to pay to get it sold will pretty much eat up any proceeds from the sale... Id go with Ovation if they will take it
 

Ty1on

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As much as I like the thought of grabbing hold of some bargain basement CWA this Winter, I agree with Ron....By the time everything is said and done, you have profited little for a lot of work and waiting (while paying MF) if you sell it.
 

capital city

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Ovation may be the easier route but I would feel like I'm helping the crooked sales people with more inventory. I would rather pay to get rid of something then to do that.
 

whitewater

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yep I get not giving wyndham anymore $$$ than I should however paying more just to "stick-it" to the man does not jive with financial reality.

with 12+ weeks to close thinking wyndham is the way to go.
 

capital city

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Yeah I understand. I just see that amount of points as Wyndham getting someone for $80k+ and it kind of makes me sick knowing they got it for free when they already sold it to someone prior for $80k+.

I think your good for about $2k on the sale. Not sure what the actual closingand transfer with mf prior to transfer but I think you might come out ahead and be able to stick it to the man.
 

CO skier

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I think your good for about $2k on the sale. Not sure what the actual closing and transfer with mf prior to transfer but I think you might come out ahead and be able to stick it to the man.
The maintenance and program fees on 545K CWA points is about $280/month. Finding a buyer at $2000 is a "maybe, and who knows when", but let us say it happens in as little as 4 month. Add on 4 months minimum for closing and transfer and that is $2240 in MF. Add in closing costs of $150 (minimum) and $299 transfer costs = $2689.

Contrast this with the $560 for two months of MF while an Ovation deal closes, and the choice is about break even from the seller's perspective. The $2000 gained on the sale is spent on the time for advertising, closing, recording and Wyndham acceptance -- all without any guarantee of success in the 8-month break-even timeframe. Versus the certainty offered by Ovations.

It is no wonder why Ovation is so successful.

The sales department will never run out of points to sell, so there is nothing to be gained by any individual owner holding out for a private sale versus Ovation.
 

capital city

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If it were me I wouldn't look for a buyer for 4 months. Figure out what you need out of it and put a min bid of that amount on eBay. If it doesn't sell that first listing give it back via Ovation. I understand everyone's thoughts that Ovation would be the easiest and possibly the best financial move. Just surprised that anyone on here would give them anything
 

cayman01

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Here is what you do. Contact the OP of the thread below yours who is looking for CWA and work out a deal. Have them start paying for MF's starting January 1 in exchange for a lower price. Thought you could make reservations for them, but I think they cancel them now upon a sale.
 

bendadin

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I'm sitting in your same boat. I have 2 even year contracts that I really don't need. But I have reservations in place and since I didn't get to pick which contract points went where, I am a bit stuck. Granted I am only out $78/month in MF for those 336K even points, but I've decided that I want a DVC direct contract instead. Can I deposit to RCI and hit up Ovation? Or do they reallocate points? I have the points in my account. I just think that they pulled my EOY points first.
 
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