Estoppel & program fees

[aams]

In the process of buying one.. and received estoppel which follows the format. I am assuming when it states Your monthly CLUB WYNDHAM Plus Assessment fee payment amount is $XX.XX it is inclusive of program fees and is the final/net amount that is payable to Wyndham. I realize program fees may be 2 cents lower/higher depending upon all resale/developer and hence final amount may be off by a few dollars.

In essence trying to confirm if the amount listed on estoppel includes program fees or that will be additional?

Thanks
A

 

[ausman]

Program fees are included on the estoppel amount but are what the current owner is paying and not necessarily what you will pay. Where you have to be careful is with contracts that are for less than the break-even number of points (roughly 285K points) . The estoppel may include the program fee at .68 or .66 per thousand points if the current owner owns contracts with points in excess of the break-even number but what you will be charged will be to cover the minimum program fee amounts of $190/$170.

So for a 154K contract you might be paying $170-(154K points x .66) = $68 more due to the min. fee. Might be immaterial to you or not.