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eBay Auctions of Wyndham

shmuggee

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Just browsing some potential deals on eBay (with the noted current drama going on with fee increases) and I've noticed this on a couple of the TS offered:

In Tennesee, points are awarded from Oct 1, to Sept 30. (Smoky Mountains, I think)

2008 points have already been used

New owners (winning bid) are to take over Jan 1, 2009 (at closing)

You pay MF until Oct 1, when 2009 points are available.

Is it me, or are you paying for the previous owners use of 2008 points?

Someone pointed this out, and the seller (who shall remain nameless) replied:

"Well - you can always go pay full whack from the developer, instead of buying it here"

Anyone else notice this? I guess you gotta read the fine print...
 

bnoble

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For a UDI you are correct.

A lot of the PCCs do things like this. Sometimes it it in your favor. Other times (as with this one) it is not. When I was in the market, I had a formula for valuing each deed at a particular maximum acquisition cost that I would pay to get it. From that I subtracted closing costs to generate a snipe bid amount. When a seller included "extra" MFs like this, I just subtracted those as well. But, if it was in my favor, I would add the value in.

Often, someone isn't reading carefully and would over-bid. Not my problem. But, don't sweat it. If you don't win this one, another will come along.
 

SFAirborne2001

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Value assessment is a must

When I was buying, I too did an assessment of what the final price would be, and it frustrated me when I saw ads which requested the previous year MF be reimbursed. If you find one that interests you, it is imperative to start asking questions early.
I use the following example: Though I didn't buy this timeshare, I saw that there was a really low starting bid, and that the seller was requesting MF for the previous year. Upon contacting her, she explained that she paid the NEXT years maintenance fees in advance; i.e. she deposited a certain amount from Jan thru Dec of 2008, and then on Jan 1 of 2009 the maintenance fees of 2009 were completely paid.
Though the initial price to get in would have been higher with the MF, closing, transfer fee, etc., once you won the bid, you would have the next years MF already paid for.
Also, be aware that the time required for closing can push you past the current year's points - if you buy now and expect to use 2008 points before they expire on 31 Dec, you might be dissapointed.
 
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