resale varying maintenance fees

[snowFairy]

Hi there, I'm considering buying resale, but got confused by the maintenance fees. For instance, from the sticky thread, Midtown 45 MF is listed at 5.4 per 1000, but this listing https://www.fidelityrealestate.com/property/wyndham-destinations/club-wyndham-midtown-45/6043931/ (I know the price is high), has 105k points with 77.95 fee, which translates to 77.95*12/105=8.9 per 1000. Other than the maintenance fees in the sticky thread, what are the other potential fees? Would I have to keep paying those if I buy resale? I have seen many other listings on Ebay and TUG marketplace, very rarely the listed MF matches the sheet. What am I missing? Thank you!

 

[Fido Chuckwagon]

Hi there, I'm considering buying resale, but got confused by the maintenance fees. For instance, from the sticky thread, Midtown 45 MF is listed at 5.4 per 1000, but this listing https://www.fidelityrealestate.com/property/wyndham-destinations/club-wyndham-midtown-45/6043931/ (I know the price is high), has 105k points with 77.95 fee, which translates to 77.95*12/105=8.9 per 1000. Other than the maintenance fees in the sticky thread, what are the other potential fees? Would I have to keep paying those if I buy resale? I have seen many other listings on Ebay and TUG marketplace, very rarely the listed MF matches the sheet. What am I missing? Thank you!

In addition to the maintenance fees, there is a program fee, which is an additional $.70 per 1,000 points, with a minimum fee per year of (I think) $180 or $185. This means that a smaller contract will have larger overall maintenance fees per thousand if you don't own enough points to hit the minimum program fee. Also, resale listings are notorious for being wrong with the maintenance fees.

 

[snowFairy]

In addition to the maintenance fees, there is a program fee, which is an additional $.70 per 1,000 points, with a minimum fee per year of (I think) $180 or $185. This means that a smaller contract will have larger overall maintenance fees per thousand if you don't own enough points to hit the minimum program fee. Also, resale listings are notorious for being wrong with the maintenance fees.

Oh thanks very much! I didn't know about the program fees. I will make sure to request an estoppel to double check.

 

[Fido Chuckwagon]

Oh thanks very much! I didn't know about the program fees. I will make sure to request an estoppel to double check.

If you buy more contracts the minimum program fee is calculated over everything you own. So you can always add on later to bring your cost per thousand points down.

 

[snowFairy]

If you buy more contracts the minimum program fee is calculated over everything you own. So you can always add on later to bring your cost per thousand points down.

Awesome information. Thank you!

 

[HitchHiker71]

Oh thanks very much! I didn't know about the program fees. I will make sure to request an estoppel to double check.

Last I checked, Wyndham now charges at least $150 for a formal estoppel letter - which will likely be passed along to you as the buyer. Ask for a VOID, or Vacation Ownership Interest Details statement instead. It's not a formal estoppel letter but contains the key details you need and last I checked Wyndham doesn't charge for VOIDs.

 

[snowFairy]

Last I checked, Wyndham now charges at least $150 for a formal estoppel letter - which will likely be passed along to you as the buyer. Ask for a VOID, or Vacation Ownership Interest Details statement instead. It's not a formal estoppel letter but contains the key details you need and last I checked Wyndham doesn't charge for VOIDs.

Oh good to know! Thanks!