Wyndham sets the asset price at $0 with Ovations.
If bought resale for less then $500 I would consider it a pro.
Both of these are blank statements that need to stop also as they are false.
Ovation sets a MINIMUM price if you want out. Wyndham Owners don’t have to pay to exit their timeshare except 2-3 months of MFs if Ovation accepts it.
Ovations is a GREAT program in my opinion
Whether it’s $0 or $100 or $50 or $500 there’s never a comment on how large the contracts are or the resort owned including CWA
To lead newbies to believe that no resale contracts have a value over $500 is false & misleading.
Resale contracts bring thousands of dollars all the time on ebay.
A NH 225k contract just sold for over $2,700 on ebay.
All 3 of us & many many owners have paid thousands for a single resale contract.
Do you think we’re all wrong & are foolish with our hard earned $$$$??
I will also ask you politely that you stop asking every VIP that comes along if they think VIP pays for itself.
You are looking at 3 owners & there’s more of us on here that purchased directly from Wyndham after purchasing resales.
None of us have regretted our purchases becoming VIPs & or PR owners.
Is it for everyone?? No but you don’t see us bashing resale only owners. Why?? RESPECT - what purpose is there for us to do that?? None in my opinion!!
So please stop bashing VIPs, direct purchase owners & everybody that’s paid more that $500 for a resale contract.
You & others will never be convinced that VIP is worth it while many VIPs will never be convinced it wasn’t worth it for their personal situation!! So please stop
The purpose of TUG is to help each other to get the most out of their ownership no matter what type & size of your ownership!!!!!!!!
I respectfully disagree with a blanket statement like this for a few key reasons. Particularly for higher MF contracts - basically CWA and any contract higher than the CWA MF rate. You may not like the fact that Wyndham is unwilling to pay anything for recovering the points in question, but AFAIK they are also absorbing all fees during the Ovation transaction, including closing costs and transfer fees, which are normally at least $500.00 - and typically paid by the seller in the majority of resale transactions on the secondary market - almost without exception especially with higher MF resale transactions.
Let's paint a real life example here. Let's say someone owns 500k of CWA developer points. They are paying $6.59/1000 MFs annually, or 500*6.59=$3295/year. They choose to use Ovations and qualify for the limited edition program which entitles the owner to three years of free usage of their points. Wyndham covers the transaction fees and takes over the MFs. The owner gets three years at 500k/year points usage. $3295*3=$9885 in free travel. If you were to resell 500k CWA points on the secondary market, you would have to pay the transfer fees at $299, plus closing costs, and you have to continue making the MF payments until the deed/contract actually transfers to the buyer (figure 90 days). So, you the seller are on the hook for $299, plus CC of $200 (low really), plus $275*3=$825, or $1324.00 total. If you would get maximum $5/1000 points on the resale market, or $2500. $2500-1324=$1176. Granted, you get $1176 in your pocket, but you also forgo almost 10k in free accommodations via the Limited Edition program. Just one example of how your blanket statement can set the wrong expectation dependent upon the use case.
Just to add, Ovations is faster, so you’re paying maintenance fees for less time then if you were waiting for a resale transfer. The Ovations person said once the deed is recorded in Wyndham’s name, they stop collecting maintenance fees. On a private party transfer, the deed is recorded by a closing company and it takes 8-14 weeks for the transfer. So that’s an additional 2-3 months worth of maintenance fees you don’t have to pay when using Ovations.
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