Question re: Club Wyndham eBay purchase

[Mhranka]

I'm looking at adding to my Wyndham portfolio but have never purchased resale. My existing contracts were from family.

My question is this:
Do the listed maintenance fees include all associated HOA costs (Maintenance Fee, Reserve Fund, Property Tax, Program Fee, etc.)?
Basically, I want to ensure I know my monthly cost.

I have requested and received the estoppel letter and it states "The Monthly CLUB WYNDHAM Plus Assessment fee payment amount is $48.33."
So I "THINK' this would be my all-in monthly cost but I'm looking for confirmation.

Thanks in advance for the help

 

[Fido Chuckwagon]

I'm looking at adding to my Wyndham portfolio but have never purchased resale. My existing contracts were from family.

My question is this:
Do the listed maintenance fees include all associated HOA costs (Maintenance Fee, Reserve Fund, Property Tax, Program Fee, etc.)?
Basically, I want to ensure I know my monthly cost.

I have requested and received the estoppel letter and it states "The Monthly CLUB WYNDHAM Plus Assessment fee payment amount is $48.33."
So I "THINK' this would be my all-in monthly cost but I'm looking for confirmation.

Thanks in advance for the help

The eBay fee disclosures are notoriously inaccurate, and that’s generally because the estoppels are notoriously inaccurate. The problem is that the monthly payment that Wyndham includes in the estoppel usually includes the program fee of the current owner, and you have no way of knowing (unless it’s a very large contract) if the current owner is paying the minimum program fee because they have too few points, or they are paying the fractional program fee based on the number of points, and you also don’t know if they are paying the resale rate, or the plus partners rate. So the maintenance fees you get from eBay are a reasonable approximation but you should also probably look at what the deed should be based on the maintenance fee thread in the Wyndham forum.

 

[tschwa2]

How many points are you buying and at what resort? How many do you currently own.

 

[Mhranka]

The eBay fee disclosures are notoriously inaccurate, and that’s generally because the estoppels are notoriously inaccurate. The problem is that the monthly payment that Wyndham includes in the estoppel usually includes the program fee of the current owner, and you have no way of knowing (unless it’s a very large contract) if the current owner is paying the minimum program fee because they have too few points, or they are paying the fractional program fee based on the number of points, and you also don’t know if they are paying the resale rate, or the plus partners rate. So the maintenance fees you get from eBay are a reasonable approximation but you should also probably look at what the deed should be based on the maintenance fee thread in the Wyndham forum.

good advice, thanks....I'll take a look maintenance fee thread (current spreadsheet) to see how the MF's compare

 

[Mhranka]

How many points are you buying and at what resort? How many do you currently own.

I currently own 357k (grandfathered silver VIP) and Im looking to add 105k deed for Ocean Ridge. (Note: I know the resale points will not get the VIP benefits)
I'm not sure if this will matter or not but my mom is on the deed with the 357k and would not be for the 105k resale addition

 

[Mhranka]

I currently own 357k (grandfathered silver VIP) and Im looking to add 105k. (Note: I know the resale points will not get the VIP benefits)

 

[tschwa2]

I currently own 357k (grandfathered silver VIP) and Im looking to add 105k deed for Ocean Ridge. (Note: I know the resale points will not get the VIP benefits)
I'm not sure if this will matter or not but my mom is on the deed with the 357k and would not be for the 105k resale addition

My experience is ocean ridge has very expensive MF's. Are you sure that isn't for an EOY 105k resale. I think it very unlikely for an annual 1BR at that resort the annual MF's are under $600 and that would be before any type of program fees.

 

[bnoble]

Aren't there several different HOAs there? They might be significantly different from one to another.

 

[tschwa2]

Aren't there several different HOAs there? They might be significantly different from one to another.

I looked maybe 6 years ago and I couldn't find any units in any HOA that had MF's of less than $8+ even for the most prime converted weeks. Off season weeks were closer to $12+ I looked up the ebay ad. I think the MF's are either incorrectly written or more likely that it is incorrectly listed as annual when it is biennial.

 

[Mhranka]

My experience is ocean ridge has very expensive MF's. Are you sure that isn't for an EOY 105k resale. I think it very unlikely for an annual 1BR at that resort the annual MF's are under $600 and that would be before any type of program fees.

Per the estoppel, it is confirmed as annual. Maybe I can ask for a payment statement or something like that to confirm monthly payments.
Any suggestions? I agree that it seems a bit low which is why I'm digging into it further.

 

[tschwa2]

Per the estoppel, it is confirmed as annual. Maybe I can ask for a payment statement or something like that to confirm monthly payments.
Any suggestions? I agree that it seems a bit low which is why I'm digging into it further.

Then maybe it is the MF's without the property tax and reserves. I just can't imagine that the MF's is under $600 for 1 BR at such a seasonal resort. My guess is it is at least $900 or $75+ per month.

Let me know if it really is $5.50 per 1000 points because I might consider buying there myself.

 

[vacation911]

Per the estoppel, it is confirmed as annual. Maybe I can ask for a payment statement or something like that to confirm monthly payments.
Any suggestions? I agree that it seems a bit low which is why I'm digging into it further.

I agree it seems quite low. Often eBay listers get this wrong. They are usually listings by dump companies who are paid by the companies that were paid by the owners to list. The pertinent information for the buyer often gets diluted. I have not seen fees in this resort through any associating for this. It could be lacking the Fairshare Plus fee but I would be cautious as it seems it is missing a lot. I have never seen Ocean Ridge listed as a place to buy that has low fees, or even lower than average. This does not seem accurate.