Disneyfan17
newbie
- Joined
- May 14, 2022
- Messages
- 3
- Reaction score
- 3
- Points
- 3
- Resorts Owned
- Bonnet Creek
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.
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.