• The TUGBBS forums are completely free and open to the public and exist as the absolute best place for owners to get help and advice about their timeshares for more than 27 years!

    Join tens of thousands of other owners just like you here to get any and all Timeshare questions answered!
  • TUG has now saved timeshare owners more than $17,000,000 dollars just by finding us in time to rescind a new Timeshare purchase! A truly incredible milestone!

    Read more here: TUG saves owners more than $17 Million dollars
  • Follow the TUG Member Banner as it travels the world on vacation with Timeshare owners! Also sign up to get the banner sent to you so you can submit a photo of your vacation with the banner to share with TUG! Banner Thread
  • Sign up to get the TUG Newsletter for free! Join tens of thousands of other owners who get this every week! Latest resort reviews and the most important topics discussed by owners during the week!
  • Our official "end my sales presentation early" T-shirts are available again! Also come with the option for a free membership extension with purchase to offset the cost!

    Read more Here
  • A few of the most common links here on the forums for newbies and guests!

Bought Wyndham points, but deed lists specific (lower level) week

madtown08

Guest
Joined
Aug 26, 2008
Messages
4
Reaction score
0
Points
1
My wife and I just purchased a foreclosed set of points (105k) from Wyndham for $14k. I know we can get the points cheaper by buying resale, but included in this purchase is a conversion (PIC) of our 3BR (Orlando) week to 254k additional points in Wyndham's program. Wyndham waived the $2,395 fee. They also threw in 105k bonus pts. The points program seems like it will suit us better than trying to trade our week via RCI all the time. The salesman mentioned that the deed for the new purchase would list a specific week, even though we're buying points. The thing that concerns me after looking at Wyndham's point chart in the paperwork is that our deed lists a week that is in the "quiet" category, but they're giving us points equivalent to a room in "prime" season. i.e. We're getting 105k for a week that the agreement says is worth around 63k. I know it will mean that that's the week where we can book 11-13 months in advance, but considering that we're looking to use this more for trading purposes, is this anything to be concerned about? We have 7 days to back out of this, so if anyone has any reason to do so, please let me know asap. thanks
 

bnoble

TUG Member
Joined
Nov 14, 2006
Messages
8,729
Reaction score
2,394
Points
498
Location
The People's Republic of Ann Arbor
Resorts Owned
Wyndham Sea Gardens, Peppertree at Tamarack, Kauai Beach Villas
If you are still in your rescind period---rescind rescind rescind! You can buy 360K points for around $3-$4K on the resale market. Just sell (or give away) your Orlando week, buy the amount of points you need resale, and go forward. It will be cheaper in the end.

The only reason to keep the deal you have is VIP, and that's a moving target. There have been some folks with PIC trouble too---PIC can be revoked in certain circumstances.
 

bookworm

TUG Member
Joined
Jun 5, 2006
Messages
341
Reaction score
1
Points
228
Location
Central Texas
Rescind - I agree completely for the reasons that have been named. You can rent that extra 105K bonus points from other Wyndham owners for under $600. With Wyndham, there is no better way to go than resale. If you choose not to however, do check into this deed. I don't think that sounds right. Your deed should match up with the points they say you have based on points charts. Mine certainly do.
 

Tia

TUG Member
Joined
Jun 6, 2005
Messages
2,867
Reaction score
189
Points
298
Wyndham is a master at selling you something that turns out to be different later ,imo, when it is too late.

Moderator maybe this thread should be moved to the Wyndham board.
 

jdb0822

Guest
Joined
Nov 22, 2005
Messages
283
Reaction score
0
Points
16
Location
Rhode Island
they waived the $2,395? yea, cause you coughed up $14,000.

Rescind now while you can or forever regret not doing so.
 

krissydee

Guest
Joined
Feb 25, 2008
Messages
116
Reaction score
0
Points
16
Location
Florida
the foreclosed points line is hogwash... it's a common one used by developers to make it seem like you're getting a good deal... it's really not true at all.

I apologize, my 1st post was more sarcastic, less informative
 

timeos2

Tug Review Crew: Rookie
TUG Lifetime Member
Joined
Apr 11, 2005
Messages
11,183
Reaction score
3
Points
36
Location
Rochester, NY
Get out NOW

My wife and I just purchased a foreclosed set of points (105k) from Wyndham for $14k. I know we can get the points cheaper by buying resale, but included in this purchase is a conversion (PIC) of our 3BR (Orlando) week to 254k additional points in Wyndham's program. Wyndham waived the $2,395 fee. They also threw in 105k bonus pts. The points program seems like it will suit us better than trying to trade our week via RCI all the time. The salesman mentioned that the deed for the new purchase would list a specific week, even though we're buying points. The thing that concerns me after looking at Wyndham's point chart in the paperwork is that our deed lists a week that is in the "quiet" category, but they're giving us points equivalent to a room in "prime" season. i.e. We're getting 105k for a week that the agreement says is worth around 63k. I know it will mean that that's the week where we can book 11-13 months in advance, but considering that we're looking to use this more for trading purposes, is this anything to be concerned about? We have 7 days to back out of this, so if anyone has any reason to do so, please let me know asap. thanks
Forget "fixing anything - RESCIND WHILE YOU CAN! The Wyndham system is a great one but not at retail pricing. For 1/3 or less you can have far more points and enjoy the system far more at resale. RESCIND TODAY then go shopping for resale Wyndham points. You'll be glad you did.
 

madtown08

Guest
Joined
Aug 26, 2008
Messages
4
Reaction score
0
Points
1
the foreclosed points line is hogwash... it's a common one used by developers to make it seem like you're getting a good deal... it's really not true at all.

I apologize, my 1st post was more sarcastic, less informative
I guess I should have looked closer at the little man laughing his a$$ OFF! :eek:
 

vacationhopeful

TUG Review Crew: Rookie
TUG Member
Joined
Sep 11, 2007
Messages
12,760
Reaction score
1,692
Points
498
Location
Northeast USA
Rescind and buy resale UDI with NO underlining week at the resort(s) and maximum unit size to really be happy with 13 month ARP.

Underlining fixed weeks (are converted deeds) and you are limited in reserving during the ARP period to THAT week. Yes, confusing, but the original owner may have brought retail fixed week 10 years ago ($15,000) then converted to points ($4,500) and then, still unhappy with reservations restrictions (nuances), traded in & mandatory upgrade spent another $22,000.

So for over $40,000 dollars (and now Wyndham has sold this fixed week dog) to you for $14,000? One week has made Wyndham $54,000? That is $2.7 Million (54x50wks) for a condo ... is that really worth YOUR money?

So, on resale 359,000 points would easily be available for $3,600 + $500 closing costs ($4,100 x 50wks) equals a $205,000 condo...much better buy, as a Wyndham T/S unit where you use all 359,000 points in 1 reservation for one week would be nicer than a $205,000 condo almost ANYWHEREs in the USA. Your fullprice points package 1 week condo would NEVER be worth that condo market value of $2.7Million unless it was facing Central Park, NYC ...

Just my humble calculations ....;)
 

madtown08

Guest
Joined
Aug 26, 2008
Messages
4
Reaction score
0
Points
1
Thanks everyone for your feedback. I think we will be rescinding tomorrow. It's real nice that Wyndham has you send the request to a PO Box so you can't request a signature! We'll check with the Post Office to see what other options are available.
 

vacationhopeful

TUG Review Crew: Rookie
TUG Member
Joined
Sep 11, 2007
Messages
12,760
Reaction score
1,692
Points
498
Location
Northeast USA
I have only a P. O. Box, and regularly SIGN for certified mail ... they put a card telling you to come get the letter.

Plus, NJ law has the date of the SENDING the certified mail is the date of receipt. Just send a "regular mail" duplicate at the same time. Can't avoid "service" by NOT picking up your mail, IF that regular mailed letter is also sent. Follow the contract RESCIND demands exactly - no other type of service!

Just ask at the post office from someone who knows, like the POSTMASTER.:D
 

Jennie

TUG Member
Joined
Jun 9, 2005
Messages
1,808
Reaction score
2
Points
248
But do make sure to send it through the U.S. Postal Service NOT via Fedex, UPS, or any other delivery service. For a nominal fee (around 50 cents) you can receive a "proof of mailing" receipt.

There is a Yahoo Fairfield Group you can join (free). There is a wealth of information there. Fairfield is a very good program but "the learning curve" is a bit steep. Take time to do research so that you can purchase (resale, of course) the product that will work best for you.

The conventional wisdom is to buy UDI but I have chosen another route. I buy Points that have been converted from a a very desirable fixed week (often times referred to as the "underlying week") such as President's week in southeast Florida, at a resort I love. That's because I intend to use the week myself almost every year. I lose the ability to book other weeks at this, my "home resort" during the advanced early reservation period. But I have the advantage of knowing exactly what I have well in advance. This works well for me because I like to go to the same resort every year. But I also have the option of going elsewhere whenever I want a change of pace.

If you are considering buying into the FF Points program to go to different resorts or use different weeks or a few nights here and there, then UDI is probably the best way to go. But do the research to see which will be more likely to give you the vacations you want.

Hurry up and get that rescind letter out! So glad you found your way here to TUG before it was too late.
 

Talent312

Tug Review Crew: Rookie
TUG Member
Joined
Jul 4, 2007
Messages
15,098
Reaction score
5,000
Points
598
Resorts Owned
HGVC & GTS
I have only a P. O. Box, and regularly SIGN for certified mail ... they put a card telling you to come get the letter.
Some businesses refuse to let employees sign for certified mail, as that may be effective service of process for lawsuits in some states. When dealing with a P.O. Box, I suggest using both certified mail, and separately, "Delivery Confirmation" service, which does not require a signature.

The USPS blurb explains...
"Verify delivery with Delivery Confirmation. Our low cost Delivery Confirmation service gives you the date, ZIP Code and time your article was delivered. If delivery was attempted you will get the date and time of attempted delivery. You can easily access this information with our Track & Confirm tool... Delivery information is available online and by phone."
 
Top