Exiting Worldmark

[Jlangenbach]

Hello

I am co owner of Worldmark for 30 plus years with my dad. He no longer is using the timeshare and our family does not want it anymore either.
I called Worldmark and they gave use 3 options:
1. Tribute - Sounds like where you transfer ownership to another immediate family member.
2. Featured Reseller- ( They gave 2 companies for us to call; neither said our timeshare is worth selling).
3. Outright ( There are 2 requirements for Worldmark to take ownership back. 1. No reservations pending. and 2. We have to stay current on maintenance fees during this process which is 20 weeks or less)

My questions are: 1. Is reselling worth considering? 2. Does the Outright option sound legitimate?

Thanks
Jason

 

[geist1223]

Just turn it back to Wyndham.

 

[bizaro86]

Hello

I am co owner of Worldmark for 30 plus years with my dad. He no longer is using the timeshare and our family does not want it anymore either.
I called Worldmark and they gave use 3 options:
1. Tribute - Sounds like where you transfer ownership to another immediate family member.
2. Featured Reseller- ( They gave 2 companies for us to call; neither said our timeshare is worth selling).
3. Outright ( There are 2 requirements for Worldmark to take ownership back. 1. No reservations pending. and 2. We have to stay current on maintenance fees during this process which is 20 weeks or less)

My questions are: 1. Is reselling worth considering? 2. Does the Outright option sound legitimate?

Thanks
Jason

Of those 3 options I think #3 is likely your best choice.

But before you do that I'd contact Henri Moreau (wmcredits.net). He is the best broker for worldmark resale.

 

[easyrider]

Hello

I am co owner of Worldmark for 30 plus years with my dad. He no longer is using the timeshare and our family does not want it anymore either.
I called Worldmark and they gave use 3 options:
1. Tribute - Sounds like where you transfer ownership to another immediate family member.
2. Featured Reseller- ( They gave 2 companies for us to call; neither said our timeshare is worth selling).
3. Outright ( There are 2 requirements for Worldmark to take ownership back. 1. No reservations pending. and 2. We have to stay current on maintenance fees during this process which is 20 weeks or less)

My questions are: 1. Is reselling worth considering? 2. Does the Outright option sound legitimate?

Thanks
Jason

If Travel and Liesure ( Wyndham) will allow you to exit that would be the cleanest exit.

Bill

 

[geerlijd]

I would rent out any credits in your account, then go with #3. No sense paying 20 more weeks of MF and giving your credits back.

 

[pacman]

I just sold (gave away one) 2 memberships. I posted them both here on Tug m/p plus on the specific FB group that deals with WM sales. Took me a couple weeks to find buyers and about 5 weeks for WM to complete the transfers. If you have the time, I would recommend try doing it yourself. Yes, you can hire others to do it (Henri is the most well known), but it will cost you a couple thousand $$.

 

[rickandcindy23]

How many credits is it? Someone on TUG might take it for free. I would advertise in the Free timeshares forum and see how it goes.

I have tried and tried to give away Shell. I am hoping I can get Wyndham to take it back. I gave away over half of the ownership, but I am tired of trying. There are some valuable resorts to book but I can book everything with Wyndham, so why own Shell and Wyndham.

 

[Jlangenbach]

appreciate everybody’s feedback on this topic…. it’s very helpful.

We have 40,000 credits.

 

[90_Min_Sales_Pitch]

I sent an email to Wyndham in January and April, neither were answered. I was only given the first two options when I called, allegedly no outright surrender at this time (or for a 7,000 contract). Naturally they would love for me to hand it to family.

Their featured sellers seem like a waste of time IMO. I was told to ask for a $1,800 selling price and that the commission would be $2,000, but there is already a dead 7,000 contact for $1 (displaying 2023-2025 balances!)

I've signed up for II and exchanged my 2025/2026 points. I would ideally like to close this contract around 2027 so that next owner else gets the new points and MF for their use year. The Ebay reseller that I purchased it from has made an offer that's reasonable, but there is a cost per week while on Ebay after 2 attempts. Would you recommend listing the contract now, or wait until the end of summer? Is WM still taking 6 months to close?

 

[CO skier]

I was only given the first two options when I called, allegedly no outright surrender at this time (or for a 7,000 contract).

They will, of course, not tell you about the "immediate surrender option." Just stop paying the maintenance dues, and WorldMark will cancel the membership after (something like) 90 days past due.

I "sold" a WorldMark ownership on eBay with the buyer paying only the $399 ownership transfer fee. It cost me just the $35 eBay listing fee and the time to fill out the online WorldMark transfer request paperwork myself. If you do this, definitely spend the $15 to send hardcopy of the online paperwork by Priority Mail as a follow-up. It will take 5-6 months, and you will be paying maintenance dues the whole way.

 

[WManning]

They will, of course, not tell you about the "immediate surrender option." Just stop paying the maintenance dues, and WorldMark will cancel the membership after (something like) 90 days past due.

Can Worldmark send past due maintenance fees to collection?

 

[easyrider]

Can Worldmark send past due maintenance fees to collection?

Yes. I've read that for Worldmark the third party collection agencies are Meridian or Pinnacle.

Bill