Home Advantage Using Wyndham Points
Hi Bellawyn,
Thanks for the reminder. The operative words to describe the "eleven month" ARP are "Reciprocal Advance Reservation Priority" (RARP) which, as you pointed out, is given as an incentive to close a deal at a sold out resort where there is no longer the opportunity to sell the prospect points other than at a New resort still with symbolic points available.
Mark,
What I referred to above would not have been an “equity trade.”
Unless Bellawyn, or someone else with experience on the question being discussed can clarify more precisely, I believe that sometime around December, 2006 or maybe January 2007 Fairfield Resorts, Inc./Wyndham was still offering "equity trades.” But, as far as I know, they stopped offering “equity trades” sometime between 2007 and 2009.
Back then, if you were the original owner of fixed week(s) and you were also buying "retail" points from the developer, Wyndham would take your deed(s) at the older fixed week resort and issue a new deed at the new UDI resort.
The New Deed would spell out the total UDI points at the NEW resort; but part of those points would be what you purchased “new” and part would include UDI points that were the result of the “equity trade.”
The "equity trade" paperwork would have identified the New Contract Number and the Existing Contract Number(s) followed by a statement something like what you see below:
Equity Trade Addendum
In exchange for the execution of the New Contract, Wyndham Vacation Resorts, Inc. ("Seller") agrees to apply Buyer's equity in the Existing Contract(s) toward the New Contract.
It would be interesting to know exactly what happened to the underlying fixed week timeshare(s) that were “traded-in.” Did Wyndham dispose of those “contracts” by re-selling them as point contracts at the old resort? If they did, the contract(s) would have, no doubt given ARP to that particular “old” Fairfield resort and probably NOT with an attached eleven month ARP at the resort where the transaction took place between Wyndham and the UDI point buyer.
What I was referring to is the situation where a “conversion” as opposed to an “equity trade” takes place. When a “conversion” takes place the underlying fixed week timeshare property remains in the name of the owner making the “conversion.” No “equity trade” takes place.
The Use Year is established as a January 1 to December 31 Use Year; and, if the owner has NOT notified Wyndham ten months before the check-in date that he is not going to use his ARP privilege and reserve his Unit Week, the equivalent points are available for his use until they expire on December 31.
In my example above, I assume that an original owner goes to an older resort Wyndham Sales office (example: Wyndham Ocean Boulevard) and purchases NEW “retail” UDI points tied to a “home resort” such as Wyndham National Harbor. I also assume that the Buyer takes the opportunity to convert one or more fixed weeks that he originally purchased from Fairfield many years ago (possibly at Williamsburg or Las Vegas).
Upon conversion he retains the contract number and the original deed, if there was one, with the “maintenance fee” obligation at the old Fairfield resort. But, in my hypothetical, because the transaction including the conversion, took place at a resort different from either the Old resort or the New resort, the Buyer may have received an eleven month ARP advantage at the resort where he signed the contract (in my example: Wyndham Ocean Boulevard) that was equal to the points acquired at the New resort and equal to the points received for the conversion.
IF, and only IF, my theory is true, it may have resulted in an “orphan” fixed week contract converted to points, entering the re-sale market with the hypothetical eleven month ARP privilege attached at the “selling point” resort (Wyndham Ocean Boulevard.)
It is just a theory thrown out there for anyone who may have experienced a transaction like the one described to jump in and share their personal experience.