Ownership Update with a $93,600 special rate from corporate

[obiomach]

Hey everyone.

Man, it's so true that if they sales rep is talking, then they are lying. I went to my first Wyndham owners update. For context, (and singing praises to this tug). I got 2 Wyndham contracts off a member on this site. It was an extremely good deal that I could not pass up. My two contracts that I took over in November took until April 25 to close. So Last week, I booked my first vacation for a quick 2 day getaway this weekend. Against my better judgement, I went to an owners update. They were blown away at my level of ownership etc (I'm a bronze VIP on a resale). What got me is they wanted me to purchase 300K points for $93,600 to get to the silver level at 17.74% interest with $9300 down. Because I was a resale owner, this was the best deal "corporate" could give me to gain the developer perks that come with ownership. Needless to say, My wife and I said no, got our gift and went on with the rest of our trip. You seriously cannot make this stuff up.

 

[rickandcindy23]

Hey everyone.

Man, it's so true that if they sales rep is talking, then they are lying. I went to my first Wyndham owners update. For context, (and singing praises to this tug). I got 2 Wyndham contracts off a member on this site. It was an extremely good deal that I could not pass up. My two contracts that I took over in November took until April 25 to close. So Last week, I booked my first vacation for a quick 2 day getaway this weekend. Against my better judgement, I went to an owners update. They were blown away at my level of ownership etc (I'm a bronze VIP on a resale). What got me is they wanted me to purchase 300K points for $93,600 to get to the silver level at 17.74% interest with $9300 down. Because I was a resale owner, this was the best deal "corporate" could give me to gain the developer perks that come with ownership. Needless to say, My wife and I said no, got our gift and went on with the rest of our trip. You seriously cannot make this stuff up.

Hi Obi! The price for developer is outrageous. Maybe add more resale points?

 

[Fido Chuckwagon]

I'm a bronze VIP on a resale)

How are you a bronze VIP with resale?

 

[obiomach]

Hi Obi! The price for developer is outrageous. Maybe add more resale points?

My plan is to do just that after I get the hang of everything later on down the line

 

[obiomach]

How are you a bronze VIP with resale?

I cannot even give you a straight answer on this one. After everything closed on my account, I saw myself listed on a bronze level. So I'm counting on when I add more resale points it'll push me up to gold.

 

[Fido Chuckwagon]

I cannot even give you a straight answer on this one. After everything closed on my account, I saw myself listed on a bronze level. So I'm counting on when I add more resale points it'll push me up to gold.

That’s bizarre. I definitely wouldn’t count on that happening though. Adding more resale points could even cause them to catch their mistake (I’m assuming it was a mistake, unless there’s something I”m missing).

 

[weems637]

A person I know, (nameless), has added a resale contracts to their account. At an update meeting, the sales person pointed out that one of the contracts was marked "developer". A mistake (they happen) was made in the transfer from the original owner to the resale owner. Ten plus years later, no change has occurred.

 

[bnoble]

After everything closed on my account, I saw myself listed on a bronze level. So I'm counting on when I add more resale points it'll push me up to gold.

As noted above, this was a mistake made when the contract transferred. They might or might not catch it and correct it. But I would not assume it will happen again as it is relatively rare.

As an aside, if you keep going to owner updates, you are increasing the chances that it will be corrected..

 

[paxsarah]

Certainly Wyndham has miscoded resale contracts as developer before. It happened to a TUG member here who actually had a problem getting the correct number of housekeeping credits because of an existing coding error on Wyndham’s part that affects some accounts with a combination of resale and developer points.

All that being acknowledged, I would absolutely not rely on Wyndham making the same error on the same account twice, and as others have pointed out a later purchase may even prompt Wyndham to notice and fix the error they made initially.

 

[chapjim]

300,000 points for only $93,600? Sounds like a heckuva deal!

 

[am1]

I made my whole business having resale purchases count as retail. I almost cleaned one with a new purchase my idea not the sales people but decided against it the first time. My mom a co owner to get her to be able to stay with out a gc and check in other quests while at the resort was sent the purchased agreement but never signed it.

Second time at BC the sales department would not sell to me. Account was locked at the time and corporate knew I was a mostly resale owner so it was crunch time to resolve it or risk losing it.

It has to do with previous owners not being taken off the deeds or at the Wyndham level when being registered. Allowed me to keep a lot of reservations in co owners names so wyndham would not steal (cancel) overlapping reservations.

 

[TUGBrian]

300,000 points for only $93,600? Sounds like a heckuva deal!

right? should have bought 600k!

 

[rickandcindy23]

As noted above, this was a mistake made when the contract transferred. They might or might not catch it and correct it. But I would not assume it will happen again as it is relatively rare.

As an aside, if you keep going to owner updates, you are increasing the chances that it will be corrected..

Yes, I think it's very risky.

 

[rickandcindy23]

Certainly Wyndham has miscoded resale contracts as developer before. It happened to a TUG member here who actually had a problem getting the correct number of housekeeping credits because of an existing coding error on Wyndham’s part that affects some accounts with a combination of resale and developer points.

All that being acknowledged, I would absolutely not rely on Wyndham making the same error on the same account twice, and as others have pointed out a later purchase may even prompt Wyndham to notice and fix the error they made initially.

Of all the resale contracts we bought in 2008 and 2009 (around 22), only 3 were labeled as developer and never caught as such. We did give the Patriot's Place away, two X 175,00 points, and that knocked us down to platinum from Founders in that account. Maybe we shouldn't have done that, but we had more points than we could use.

 

[jeff123]

We did give the Patriot's Place away, two X 175,00 points

When those 2 contracts transferred to me, my account was set up as Bronze VIP as well. All the points are under resale instead of developer (I have to select resale instead of developer when making a reservation). I do not have the additional housekeeping credit but I can request the free upgrade when making a reservation. I also get the 15% points discount in the 60 day reservation window. I thought that Wyndham would eventually remove the VIP status.

 

[rickandcindy23]

When those 2 contracts transferred to me, my account was set up as Bronze VIP as well. All the points are under resale instead of developer (I have to select resale instead of developer when making a reservation). I do not have the additional housekeeping credit but I can request the free upgrade when making a reservation. I also get the 15% points discount in the 60 day reservation window. I thought that Wyndham would eventually remove the VIP status.

Maybe it's because we did the closings ourselves??? That could very well be the reason. Well, don't clue them in on your luck! LOL!

 

[obiomach]

Maybe it's because we did the closings ourselves??? That could very well be the reason. Well, don't clue them in on your luck! LOL!

You've been phenomenal to work with. You've been amazing to teach me about the Wyndham system. Thank you for all your advice. And thank you for handling the closing yourself. It has mad he difference