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Any value for old Wyndham deeds?

Disneyfan17

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My father has owned about 340,000 Wyndham points at Orlando Bonnet Creek for over a decade. We make pretty good use of them and have enjoyed our vacations over the years. However, he is getting to an age where he doesn't travel much and my family is moving on to cruising and other vacations where we can't easily make use of the points. We are thinking about getting rid of everything before my father passes away and leaves us with the burden of maintenance fees.

I've tried to read a lot of threads here and also do some Google searches, but I'm not finding answers to my specific question. I understand about reselling the timeshare to a buyer or also using Wyndham's program where they essentially take it back for free. However, my father is convinced that he has a very desirable asset on his hands. Let me explain. Sometime about 5-10 years ago, during a sales pitch on vacation, a salesman said something about my dad having deeds to the property because he bought in very early in the resorts development. Wyndham wanted to buy them back and offered to pay him all the years of maintenance fees he had paid up to that point and then maybe also get him an equivalent amount of points going forward or something like that. He wasn't able to get it in writing and they would not let him think about it or call a lawyer or me for assistance. He told them he would think about it and went home. Sometime shortly after, a spouse of his friend who had supposedly been a sales agent at some point, told him that those old deeds were "golden" and agents were given incentives to try and buy them back. At this point, my father was convinced that he was sitting on a very valuable asset that would appreciate if he just waited for them to keep upping the offer.

But that's the end of the story. I don't think he's ever gotten another offer. I told him my research hadn't turned up anything like what he is describing. It seems that people either lose money or give away the deeds for free when they get out. I've yet to read a story about someone getting a massive payout. So is my father crazy? Did he misunderstand something? Is the salesman just a complete liar? Or is there some rare form of deed from early in the development that Wyndham really wants to get their hands on at any cost? Any help would be appreciated. I don't have a copy of the deeds, although I might be able to get them. I don't really know many more details about the terms of his agreement. Just trying to find out if my father's story is plausible or not....I'm leaning toward a lying salesman confusing my aging father.
 

bizaro86

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The salesperson was a liar, or certainly stretched the truth. The only way you're getting a big value placed on a Wyndham deed like that one is on a "trade in" buying something even bigger from them. The net payment would be much more than the value of what you'd be getting.

They have sometimes allowed folks getting out through ovation to keep the use of their points for a few years for free (ie Wyndham pays the MF) but no big cash payments.
 

Jan M.

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What they may have been offering him was an equity trade to get him to buy more points. There would have been no profit just his purchase price minus any taxes and closing costs he'd paid. Equity trades don't include the previously paid maintenance fees as they go to the resorts so that's not something Wyndham could or would offer.

Are you aware that you can use those points to go to Wyndham resorts other than just Bonnet Creek? At 10 months or less you can book other resorts than just your home resort. Your home resort is where you're deeded and where you have ARP, Advance Reservation Priority, to book at 13 months.

You can also deposit the points in RCI to give you many more options. Resorts other than just Wyndham and worldwide too.

Btw, if your names aren't on the deed you don't have to assume ownership when he passes.
 

T-Dot-Traveller

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............ I've yet to read a story about someone getting a massive payout. So is my father crazy? Did he misunderstand something? Is the salesman just a complete liar? Or is there some rare form of deed from early in the development that Wyndham really wants to get their hands on at any cost? Any help would be appreciated. I don't have a copy of the deeds, although I might be able to get them. I don't really know many more details about the terms of his agreement.

Just trying to find out if my father's story is plausible or not....I'm leaning toward a lying salesman confusing my aging father.
The salesperson was a liar, or certainly stretched the truth. ..........
Welcome to TUG

I would agree with @bizaro86 - the truth suffered from too much stretching.

That said -
1) there are Wyndham owners with 30 + year old fixed week deeds (snowbird weeks) in Pompano Beach Florida that Wyndham would love to get their hands on.
2) Your Dad's points could be linked to Bonnet Creek and not in CWA . ( Club Wyndham Access Trust) .
Wyndham probably would like them in CWA and the salesperson was using this as " the bait " to get your Dad to buy more points.

(ie) We will give you a great deal on " trading in your valuable car for the new and better model"
as compared to- " your 10 year old car has very little value ; but we can help you get enough points to help you out of this situation.
 

T-Dot-Traveller

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Hi @Disneyfan17

@Jan M. - is giving you good advice on:

1) the use flexibility of the points your Dad owns.
2) that there is no need to inherit them. [ TUG has threads on this topic you may wish to read}

I would add this - you can use Wyndham points for stays of less than a week.

If a desired cruise leaves from a location near a Wyndham resort location -you may wish to extend your vacation on either end with a three night resort stay.
It is also possible this could be used get airline reservations on a lower cost flight day.
 
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Jan M.

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Hi @Disneyfan17

@Jan M. - is giving you good advice on:
1) the use flexibility of the points your Dad owns.
2) that there is no need to inherit them. [ TUG has threads on this topic you may wish to read}

I would add this - you can use Wyndham points for stays of less than a week.

If a desired cruise leaves from a location near a Wyndham resort location -you may wish to extend your vacation on either hand with a three night resort stay.
It is also possible this could be used get airline reservations on a lower cost flight day.
Excellent advice about booking nights before and after cruises. Many owners do that.

When we went to Hawaii we saved ourselves a lot of money on our flights by staying for two nights at the Portland resort and Harbor Lights in San Diego. It was very easy and cheap to use the metro/bus to get from and back to the airport. We got to stay at two resorts we'd never been to before and had a full day and part of another day to explore both cities.

If they're booking at 90 days or less they'd only have to book two nights not three.
 

bnoble

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I'm not finding answers to my specific question
Unfortunately, you probably are. Namely: selling to someone else or using Certified Exit are the two options. The first may net a few dollars, the second will be less work. Selling is an option: Bonnet's maintenance fee ratio is lower than CWA, and it's a resort at which ARP can be useful for larger units.
 

rickandcindy23

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Your father definitely got a sales pitch that is over-the-top dishonest. How could one deed be more valuable than another. It's just paper.

You need to keep the points and continue to use them for other resorts. Where do you like to travel? Wyndham has a lot of coastal properties and it's adding new ones all of the time. No need to give those away or sell for a small amount of $ over what he paid.
 

paxsarah

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You need to keep the points and continue to use them for other resorts. Where do you like to travel? Wyndham has a lot of coastal properties and it's adding new ones all of the time. No need to give those away or sell for a small amount of $ over what he paid.
As long as they're happy with the travel opportunities vs. maintenance fees, I completely agree with this. There's no value in it better than the value in its use. It's also possible if it was purchased over a decade ago that the account could be Silver VIP from two grandfatherings ago, and that would be worth preserving for as long as people want to travel. And as stated above, nobody has to accept the inheritance.
 

Disneyfan17

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Thank you all for your replies. I knew it couldn't be true...now I need to convince my dad of that. As to using points at other resorts...yes, I've used them all over the country. I've stayed in Sedona, Phoenix, Branson, Park City, four different Orlando resorts, Wisconsin Dells, etc. We make good use of the points. But he's not able to travel much, my daughter will be moving out in a few years, and most of the upcoming travel we want to do does not have a close Wyndham resort. I'm not really interested in doing the RCI thing and don't want to inherit the time share. It's a little complicated because it's actually being held in a trust which I will inherit plus I believe my name may have gotten put on the deed some time ago. So I think for a lot of reasons, getting rid of this thing might be our best option. It's served us well but I think the time is right to move on.
 

Sandi Bo

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I haven't given anything back via Certified Exit, but am considering. The call is easy and the person I talked to super informative. She told me my options and how the process would work. First, for me, was to see if my contracts were eligible (ours too in in my father's trust). I'd be surprised if your father's was not.

If it's any peace of mind for you, if you aren't on the deed, you don't have to inherit it. If you are on the deed, Certified Exit will make getting rid of it easy. Thus no horrible financial burden is looming.

Certified Exit's number is 866-294-4194
 

Disneyfan17

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I haven't given anything back via Certified Exit, but am considering. The call is easy and the person I talked to super informative. She told me my options and how the process would work. First, for me, was to see if my contracts were eligible (ours too in in my father's trust). I'd be surprised if your father's was not.

If it's any peace of mind for you, if you aren't on the deed, you don't have to inherit it. If you are on the deed, Certified Exit will make getting rid of it easy. Thus no horrible financial burden is looming.

Certified Exit's number is 866-294-4194
Thanks Sandi, excellent info.
 

WyndhamBarter

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No one has mentioned Pathways yet, so I thought I would point you to this
2017 thread:

https://tugbbs.com/forums/threads/wyndham-pathways-have-you-used-it.251948/

It seems barely possible that your father’s most recent purchase fell in the applicable
timeframe, so there is a very small chance of collecting 20% of the purchase price.

You would need to check the contract he signed and/or call Wyndham to see if his
contract is eligible. Good luck - and I second all the excellent advice you have gotten
on this thread!
 

Sandi Bo

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No one has mentioned Pathways yet, so I thought I would point you to this
2017 thread:

https://tugbbs.com/forums/threads/wyndham-pathways-have-you-used-it.251948/

It seems barely possible that your father’s most recent purchase fell in the applicable
timeframe, so there is a very small chance of collecting 20% of the purchase price.

You would need to check the contract he signed and/or call Wyndham to see if his
contract is eligible. Good luck - and I second all the excellent advice you have gotten
on this thread!
Good point!

@Disneyfan17, as you journey through this, TUG is a great place to post your findings and get even more opinions of what is offered, what you might do. Free advice, lots of different perspectives, LOL
 
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ba2471

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What they may have been offering him was an equity trade to get him to buy more points. There would have been no profit just his purchase price minus any taxes and closing costs he'd paid. Equity trades don't include the previously paid maintenance fees as they go to the resorts so that's not something Wyndham could or would offer.

Are you aware that you can use those points to go to Wyndham resorts other than just Bonnet Creek? At 10 months or less you can book other resorts than just your home resort. Your home resort is where you're deeded and where you have ARP, Advance Reservation Priority, to book at 13 months.

You can also deposit the points in RCI to give you many more options. Resorts other than just Wyndham and worldwide too.

Btw, if your names aren't on the deed you don't have to assume ownership when he passes.

if a timeshare does not pass to an heir, or is accepted by an heir at the time of the owner's death, do maintenance fees still get billed to the decedents estate? Is the estate obligated to pay the MF's? thanks,
ba
 
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