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Benefit Transfer for Resales

SDChampaign

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Greetings! I am an owner of a [Wyndham Points] I am looking to sell. When dealing with perspective buyers I realized I did not know enough about benefit transfer to give them the most accurate information. I have been unable to find a document that clearly defines what does and doesnt transfer. After spending several hours in this forum using the search function here is what I've come up with:

VIP status does not transfer.
ARP transfers.
Plus Partners does not transfer
External Exchange with RCI transfers.

Is this correct? There seems to be some bad information out there. I dont want to be misleading with my buyer, as I felt I was mislead when I was a buyer.

And if there is anything else you think I should know and pass on please tell me.

Thanks in advance!
 
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DeniseM

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SDChampaign

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Ok, but in terms of benefit transfer those advertisements aren't as specific as I was looking for. I am looking for a resource that is more specific. I won't be selling on ebay. Thanks!
 

rrlongwell

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Ok, but in terms of benefit transfer those advertisements aren't as specific as I was looking for. I am looking for a resource that is more specific. I won't be selling on ebay. Thanks!

I do not think that such a reliable document exists. Plenty of information on various sites about the benifits or precieved benifts of re-sale vs. direct purchase (tugs included). All indicators I am aware of suggest there is no such standard. It can depend on many factors:

1. Is Wyndham using their right of first refusal on Access contracts.
2. A number of locations say their is a list that is updated frequently on specific units that Wyndham wants back. Their offers for these units vary widely.
3. Some report their re-sale units transfer with VIP eligable points, most do not.
4. If the buyer is an immediate family member as defined by Wyndham, then VIP eligable points do transfer. Other methods of transfer that include eligablity for VIP status with the points apparently include transfers by will, transfers by adding a new owner to an existing deed. It is unclear whether Wyndham honors this after the VIP eligable point owner drops off the deed. Wyndham says no.
5. The paid RCI account transfers, however, this takes seperate actions by the new owner in establishing their own RCI account based on the timeshaer purchase (Wyndham Vacation Resorts timeshares). If the resort/Deed related paperwork show II as the exchange company then the Free RCI acount does not exist. It would be a II account as far as I know.
6. Wyndham offers various discounts on excess inventory that varies on what is offered.
7. It is a safe assumtion that most of the other benifits of developer purchases do not transfer.
8. Basically, if you are a seller making a re-sale purchase, it would be best not to represent any benifits go with the program other than the RCI Account and to point out that the re-sale points are usable at 10 months or under at all of their resorts. It would not be wise to say that any given point level contract would get any specific amount of days or weeks.
9. Liabilities to Wyndham associated with the re-sale transfer to the new owner, as far as I know.
10. If points were used early from future years, it has been reported that the future reservations associated with the timeshare may transfer to the new owner (may depend on if there were multiple contracts in the lossing account.

The timeshare market is very much a buyer beware marketplace where even the sellers may or may not know what else transfers with the timeshare.

The reason I did not mention ARP as transferable, as far as I know it currently is, however, one Wyndham Sales Manager and Sales Rep indicated that they were not aware of any Advanced Reservation Priority (ARP) that exists as it relates to the resorts (five resorts are covered by this Sales Staff). Therefore, I do not know if this benifit is going to be a continuing benifit or not. Additionally, if the points based contract you made reference to is Access, it is my understanding that ARP privedges are limited to a first come first serve bases at resorts that the Access program has in their inventory. If I were a seller of this type of contract, then I would not even mention it, it could cause post sale problems.
 
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massvacationer

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My answers in blue



Greetings! I am an owner of a [Wyndham Points]

VIP status does not transfer. CORRECT (BUT IT CAN TRANSFER TO IMMEDIATE RELATIVES)
ARP transfers. CORRECT
Plus Partners does not transfer CORRECT
External Exchange with RCI transfers. CORRECT



Thanks in advance!
 

SDChampaign

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Thanks for the help everyone. I really appreciate it, this forum is a great resource. Thanks again.
 
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