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Confused by timeshare update today

Blonde

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So please bear with me in this post. My parents bought a timeshare back in Las Vegas in 2001 when it was still Fairfield. I think it cost them 30,000 dollars, which they have fully paid off. So I think this means the Wyndham Grand Desert is their home resort. I know they have VIP Silver status with Wyndham. They get 315,000 points a use year that they usually let my husband and I use to travel with. They also can convert points they haven't used to RCI points before they expire. Their maintenance fees or whatever are 125$ a month (I think I'm remembering it right). My husband and I always avoid the timeshare meetings and haven't ever attended one. Well we were staying at the Wyndham Patriots Place in Williamsburg with my parents and they went to a timeshare update meeting for the free breakfast yesterday. My dad is very skeptical of everything and is an accountant who isn't afraid to shut people down so I thought it would all be fine. 5 hours later they come out of it having spent 40k. My dad tried to explain it to me but I don't really understand so I'm hoping you guys can tell me if they need to back out of whatever they signed. A lot of what they told me sounds like sales tactics and not the truth. Ok so here I go trying to explain it...
-My dad said that the sales rep said that in 2013 Wyndham shifted the way they do ownership to a new "model" and they now have access to more resorts. They said my parents were contacted in mail and email about this, but my parents never responded. They were shocked my parents didn't know about this. When this shift happened, Wyndham owners were offered a new option? The sales guy said that when he looked up my parents names there was a "red flag" on their account and since they had never initialed or signed anything recognizing they had received this update on Wyndham that their maintenance fees hadn't gone up
-My dad explained that they own(ed) a deed at Wyndham Grand Desert. The sales guy said a lot of people have been opting out of their timeshare, so that would mean that since my parents still own the deed that their costs would be going up bc of new "assessments" or something at the Grand Desert. And that the Grand Desert had recently been updated so their costs would definitely be going up if they didn't get rid of their deed.
-My dad has always been worried about what would happen to the timeshare if they died bc he didn't want me to be stuck with trying to get rid of it. So he said the sales guy convinced them to get rid of their deed at the Wyndham Grand Desert and use 40k to buy like 125,000 more points. Which they did. Bc the guy said if it wasn't a deed that was owned it would be easier to get rid of if they died?
-And they're giving them a bonus of like 125,000 more points for the first year or two (so that would mean we have like 565,000 points for each of the next two years and then after that just 440,000 each year)

So did my parents get duped? Please help!
 

cbyrne1174

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100% resale!!
Grand Desert is one of the best deeds to have. Most people on here would love to have a 315,000 point Grand Desert contract (for the couple hundred bucks it's worth). It sounds like they duped him into changing all his points into Club Wyndham Access (which has much higher maintenance fees) and buy more points to become VIP silver. If he can get his Grand Desert contract back, he should. If he really wants to spend more to be VIP silver, he can call telesales and get the 85,000 points he needs for $11,000-$12,000. Grand Desert is better than Club Wyndham Access. I personally own 273,000 points at Grand Desert and only spent about $500 on my ownership. I don't get any of the retail benefits though.
 

Panina

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They need to rescind. It needs to be done asap. In the paperwork they got should be an address of where they can send a letter that they are rescinding. Tomorrow morning mail it, with proof of mailing. If you go back to the sales person, he will give you every reason not to cancel (all not true) and even if he says they will cancel, his word is not good enough.
 

geist1223

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The old saying is true - if a timeshares sales person's lips are moving they are lying. Their only motive is to Make a sale no matter how much it might hurt the couple they are pitching.
 

Karen G

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Once owned these: FirstFairway@Walden X 2; Lawai Beach; ManhattanClub; PuebloBonitoRose; 4 South Africa--now timeshare-free
Most likely your parents were duped and mislead as stated in the post above. But, please encourage your parents to rescind this purchase if they have any questions about exactly what they bought. If they signed the contract in Virginia, they have seven calendar days in which to rescind according to this information: Virginia law states that you may cancel a timeshare contract until midnight of the seventh calendar day after signing the contract. If the seventh calendar day falls on a Sunday or a legal holiday, then the right to cancel the contract expires on the day immediately following that Sunday or legal holiday. Once that time period passes they will not be able to rescind the purchase and they'll be stuck with what they bought whether it's a good or bad thing for them.

As for your dad's concern about you being stuck with a timeshare when he passes away, you don't have to accept such a property if you don't want it. You'd just notify them that you refuse the inheritance and it would revert back to the company that owns it.

Have your parents look through their paperwork and follow the rescission instructions exactly as written. All parties who signed the purchase agreement need to sign the rescission letter and it can be a very simple statement that they are exercising their right to rescind this purchase. Be sure to send the letter by certified mail so that they will have a receipt from the post office showing that they rescinded in time. Notify their credit card company that they have rescinded the purchase. Refunds to credit cards can take up to 45 days.

The deal they got will still be there if they still think it's a good deal once they've done some research and fully understand what they bought. If what they already own at Grand Desert is working for them and their travel needs, there's no need to spend thousands of dollars more.
 

Jan M.

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Your parents bought long enough ago to be grandfathered at silver and they will be grandfathered once again in the coming Privileges program without buying anymore points. What they have at Grand Desert has better maintenance fees than what they were likely sold. Probably Club Wyndham Access. When your parents pass you are under no legal obligation to accept their timeshare even if they specify leaving it to you in their will. However you would most likely want to keep what they have.

They absolutely should rescind. If they want more points they can get a much better deal by calling Wyndham corporate telesales and with that purchase adding a PIC Plus week or even two to their account. Karen G is correct that any deals will still be there.
 
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dgalati

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This is another example of how Wyndham takes advantage of a owners lack of knowledge. Cleary this sale was of no help to OP. They were talked into giving back a low maintenance fee deed in exchange for a higher maintenance fee CWA ownership. The price they were charged for the additional points is absurd at $320/1000. Morals and ethics clearly lacking on this deal . @Fredflintstone you were talking about requiring buyers having mandatory counsel before buying. This deal is why its so badly needed in the industry. @Grammarhero this is why your posts relating to non-judicial, anti-deficiency foreclosures are so helpful to many.
 
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CO skier

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The old saying is true - if a timeshares sales person's lips are moving they are lying. Their only motive is to Make a sale no matter how much it might hurt the couple they are pitching.
Much like when salespeople tell prospects (for years!) they can get all their reservation at a 50% discount using VIP Platinum discounts?
 

dgalati

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Much like when salespeople tell prospects (for years!) they can get all their reservation at a 50% discount using VIP Platinum discounts?
Do they also promote the use of resale points with this 50% discount ?
 

pedro47

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To the OP, you have received excellent advice . Now the ball is in your court. Please help your parents to write a letter and rescind this contract today.
 

Blonde

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Thank you so much for all of your helpful replies!!! I texted my dad last night and he said they reviewed the paperwork more carefully and are going to rescind.

Question-I remember my dad had said that whatever they "bought" meant that it was no longer a " deed" but it was now a " trust". Is there any benefit of that?
 

Blonde

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Grand Desert is one of the best deeds to have. Most people on here would love to have a 315,000 point Grand Desert contract (for the couple hundred bucks it's worth). It sounds like they duped him into changing all his points into Club Wyndham Access (which has much higher maintenance fees) and buy more points to become VIP silver. If he can get his Grand Desert contract back, he should. If he really wants to spend more to be VIP silver, he can call telesales and get the 85,000 points he needs for $11,000-$12,000. Grand Desert is better than Club Wyndham Access. I personally own 273,000 points at Grand Desert and only spent about $500 on my ownership. I don't get any of the retail benefits though.
My dad wanted me to ask you if there have been any "special assessments" from the Grand Desert resort? The sales guy kept saying there was.
 

dgalati

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Thank you so much for all of your helpful replies!!! I texted my dad last night and he said they reviewed the paperwork more carefully and are going to rescind.

Question-I remember my dad had said that whatever they "bought" meant that it was no longer a " deed" but it was now a " trust". Is there any benefit of that?
No benefit to have CWA with monthly maintenance fees at a much higher cost then the Grand Desert deeds'
Grand Desert:
MF: $3.80
Reserve Fund: $1.00
Property Tax: $0.16
Total HOA: $4.96

CWA
MF: $6.15
Reserve Fund: $0.13
Total HOA: $6.28
 

dgalati

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My dad wanted me to ask you if there have been any "special assessments" from the Grand Desert resort? The sales guy kept saying there was.
None! It was all lies to make the sale. This sale is of no benefit to your father.
 

dgalati

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My dad wanted me to ask you if there have been any "special assessments" from the Grand Desert resort? The sales guy kept saying there was.
The sales team took advantage of your dads lack of knowledge and persuaded him into buying with half truths, out right lies and very high pressure sales tactics. No letters were sent out and if your dad owned CWA they would have persuaded him into dumping CWA and buying a deeded ownership like his Grand Desert.
 

Blonde

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To the OP, you have received excellent advice . Now the ball is in your court. Please help your parents to write a letter and rescind this contract today.
My parents are still at Wyndham Patriots Place. Their contract says they can rescind either by letter (as you all have said) or by hand delivering to the salesperson in the sales office of purchase. Should he do both? He also was going to ask them for a signed document confirming his cancellation.
 

dgalati

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THANK YOU for quick reply.
I own Grand Desert and it is a lower cost maintenance fee resort. This deed can be given back with Ovations at no cost to your dad and would not be a burden to you if you choose not to inherit it.
 

Blonde

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To the OP, you have received excellent advice . Now the ball is in your court. Please help your parents to write a letter and rescind this contract today.
Does the Ovations program apply to deeded owners? In case my dad decides he just doesn't want the time share in general.
 

T-Dot-Traveller

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My dad wanted me to ask you if there have been any "special assessments" from the Grand Desert resort? The sales guy kept saying there was.

Tell your Dad - not to feel bad or foolish -but to rescind the new contract ASAP and keep what your parents already own .

Rescinding is like returning an item to a store - there is no need to explain .

IT IS HIS LEGAL RIGHT . Tell him to just do it within the required timeline .
AND NOT TO TALK TO SALES .
 

dgalati

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My parents are still at Wyndham Patriots Place. Their contract says they can rescind either by letter (as you all have said) or by hand delivering to the salesperson in the sales office of purchase. Should he do both? He also was going to ask them for a signed document confirming his cancellation.
I would send by letter with a certified delivery reciept. I would not have him talk to sales unless he wants to spend another 4 hours of vacation being told lies and half truths.
Does the Ovations program apply to deeded owners? In case my dad decides he just doesn't want the time share in general.
Ovations is available to him and since he bought developer he would get 3 years of use without paying any maintenance fees. The Ovation program can be changed at any time but it is a great way for Wyndham to take back a deed for free then sell it to another at 25-30k.
 

Blonde

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Here's the contract paragraph about canceling. They're going to the Seller in the sales office at Wyndham Patriots Place now.
 

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bogey21

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Follow the instructions exactly. Mail rescission. Do not call. Do not talk to anyone at Wyndham. If he does, it won't be a short conversation and he might cave in to Sales Lies again. If he signs another document, it may muddy the rescission process...

George
 

Jan M.

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The times we rescinded we did it later that day or the next day at the sales center. We went to the sales center desk, told them why we were there and it took less than an hour. There was never a question of us being talked out of rescinding. We got copies of everything and it gave us peace of mind to know that it was done. Neither one of us would have been able to relax if we hadn't had the cancelled paperwork in our hands. It has been a number of years since the last time we rescinded but if we were doing it now I would follow it up with the registered or certified letter.
 
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