Rescinding and I want to buy WorldMark

[LHardman]

Has anyone purchased a resale from the TUG marketplace? Is the buying process straightforward? How do you transfer ownership?

Regarding WorldMark, are there different types of ownerships available, such as points that aren't tied to a specific property and those that are linked to a property and designated weeks? I want to ensure that I'm acquiring the flexibility to travel to any location where there is a property and utilize my points. I understand that bookings can only be made within 13 months in advance, and I want to avoid being restricted to a specific week each year. Thank you, Laurie

 

[rickandcindy23]

Since WorldMark is a club, the transfer process is easy and quick.

The points will book any location. We love our WorldMark. We own 46,000 points. It's the most flexible and has a great selection of resorts, including some areas with very limited timeshares. Yellowstone, Estes Park, Anaheim, just to name a few areas where timeshares are scarce. You really have to book those three way ahead of time.

 

[CO skier]

Has anyone purchased a resale from the TUG marketplace? Is the buying process straightforward? How do you transfer ownership?

The owner (or broker, if applicable) requests the transfer paperwork from Wyndham and pays the $399 transfer fee. About 3 months later, a
DocuSign email is sent to the owner(s) to e-sign, then it is sent to the buyer to e-sign. About 2 months after that, the buyer is informed the transfer is complete. The process is easy, but it tests one's patience.

It is a club membership; there are no home resorts. All the credits work the same beginning 13 months before arrival. There are Canadian accounts and American accounts. They work the same, they just cannot be combined.

A brief overview is available here

Worldmark The Club Timeshare Overview & Guide

Worldmark the Club Timeshare point system Information and Guide for WorldmarktheClub owners

tug2.net

and more in-depth information is available through the links here

WORLDMARK INFORMATION and ADVICE ARTICLES

Worldmark the Club Information and overview! - TUG Advice Article 2024 Worldmark Dues/Fees 2023 Worldmark Dues/Fees information Worldmark Program Guide and Resort Directory 2024-2025 Worldmark Program Guide and Resort directory 2023 good stuff starts on page 356 Worldmark Program Guide...

tugbbs.com

 

[geist1223]

Resell Worldmark has full access to the 90+ Worldmark Resorts, BonusTime, Inventory Specials, and Monday Madness. They get the same Housekeeping Tokens and Guest Certificates. They do not have access to Club Pass. Allows Worldmark Owners to Book Wyndham Resorts. You can join II and/or RCI on your own. With RCI your Account would be a Weeks Account and not a Points Account. I do not know about II.

 

[LHardman]

Since WorldMark is a club, the transfer process is easy and quick.

The points will book any location. We love our WorldMark. We own 46,000 points. It's the most flexible and has a great selection of resorts, including some areas with very limited timeshares. Yellowstone, Estes Park, Anaheim, just to name a few areas where timeshares are scarce. You really have to book those three way ahead of time.

Thank you!

 

[LHardman]

Thank you for all your comments! It’s very helpful! Still wondering how if anyone has bought from the tag marketplace. I’m looking to buy but the cost is $1750 and I just wonder if that is upfront or once the transfer happens?

 

[VacationForever]

Thank you for all your comments! It’s very helpful! Still wondering how if anyone has bought from the tag marketplace. I’m looking to buy but the cost is $1750 and I just wonder if that is upfront or once the transfer happens?

It depends on the seller. You can look for resale contracts at wmowners.com. wmowners.com is a dedicated forum for Worldmark owners, like TUGbbs.

 

[aams]

Does resale also have access to non us worldmark locations such as fiji e.g. is there any difference in booking us and non us locations for resale or they work all the same

Thanks

Resell Worldmark has full access to the 90+ Worldmark Resorts, BonusTime, Inventory Specials, and Monday Madness. They get the same Housekeeping Tokens and Guest Certificates. They do not have access to Club Pass. Allows Worldmark Owners to Book Wyndham Resorts. You can join II and/or RCI on your own. With RCI your Account would be a Weeks Account and not a Points Account. I do not know about II.

 

[geist1223]

So long as they are Worldmark same.

 

[WorldT]

Thank you for all your comments! It’s very helpful! Still wondering how if anyone has bought from the tag marketplace. I’m looking to buy but the cost is $1750 and I just wonder if that is upfront or once the transfer happens?

To answer your question, there is going to be a transfer company involved. If I were paying to buy the timeshare, I would choose the transfer company. Try LT Transfers or Resort closing Inc.
Once you and the seller have agreed on the price and the closing company, either of you will reach out to the closing company to setup the agreement, estoppel and transfer.
Yes, you will have to drop the money with the closing company and it will be placed in escrow.
The closing company does have a fee for their services. Somewhere between $250 to $500.
I would suggest that you do some research to see how many points you will need to be able to reach your vacation goals so you can ascertain how many points you need to buy.

 

[WManning]

To answer your question, there is going to be a transfer company involved. If I were paying to buy the timeshare, I would choose the transfer company. Try LT Transfers or Resort closing Inc.
Once you and the seller have agreed on the price and the closing company, either of you will reach out to the closing company to setup the agreement, estoppel and transfer.
Yes, you will have to drop the money with the closing company and it will be placed in escrow.
The closing company does have a fee for their services. Somewhere between $250 to $500.
I would suggest that you do some research to see how many points you will need to be able to reach your vacation goals so you can ascertain how many points you need to buy.

No transfer company needed all documents to transfer are handled by Worldmark. Only cost to transfer is the $399 transfer fee for Worldmark

 

[WorldT]

No transfer company needed all documents to transfer are handled by Worldmark. Only cost to transfer is the $399 transfer fee for Worldmark

Does Worldmark provide escrow services for the $1750 purchase price?

 

[geist1223]

Does Worldmark provide escrow services for the $1750 purchase price?

No.

 

[djaneczko]

Will Worldmark allow a sale if there are loan balances?

 

[WorldT]

Will Worldmark allow a sale if there are loan balances?

Is the new owner prepared to take on the loan balance? As a new owner, why would I want to take over the loan balance when there are lots of these available on TUG for under 2k?

 

[WorldT]

No.

Well then, a closing company will be needed to handle the escrow. I will not handover $1750 to someone i don't know.

 

[5finny]

Escrow is very valuable
That said @ $1,750 if seller was someone I recognized from Tug or was otherwise recognized as reliable I might take the gamble and proceed without paying extra for escrow

 

[djaneczko]

Is the new owner prepared to take on the loan balance? As a new owner, why would I want to take over the loan balance when there are lots of this available on TUG for under 2k?

I assume that no one is wanting to take on a loan balance. Just figured it was not possible to sell an account with a balance.
Just wanted to confirm it was not possible …to avoid a surprise upon making a resale purchase with either the docusign or even worse…after.

 

[WorldT]

I assume that no one is wanting to take on a loan balance. Just figured it was not possible to sell an account with a balance.
Just wanted to confirm it was not possible …to avoid a surprise upon making a resale purchase with either the docusign or even worse…after.

The timeshare companies do not allow it. That is why there is such a bad reputation of the timeshare industry. People are lied to and convinced to sign a contract. Once they realize that reality is different from the statements from the sales person, they try to cancel but they can't. The timeshare company will not take it back and will not allow an erasure of the balance if given to someone else.

 

[WManning]

Does Worldmark provide escrow services for the $1750 purchase price?

You need to ask the seller if you want escrow to hold money. Normally worldmark handles all doc prep and transfer fee of $399 is a Worldmark fee.

 

[CO skier]

I assume that no one is wanting to take on a loan balance. Just figured it was not possible to sell an account with a balance.
Just wanted to confirm it was not possible …to avoid a surprise upon making a resale purchase with either the docusign or even worse…after.

I think WorldMark will transfer an ownership with a loan balance, but the loan will transfer with the ownership. It will not be a surprise ... after. If the seller did not inform about the outstanding loan, the loan status is included on the DocuSign paperwork

 

[easyrider]

Thank you for all your comments! It’s very helpful! Still wondering how if anyone has bought from the tag marketplace. I’m looking to buy but the cost is $1750 and I just wonder if that is upfront or once the transfer happens?

You might look at eBay. I see WM there all the time. Many have free closings and credits banked. Look at the WM maintance fee chart to optimize your purchase. You want to own at the top of a tier as the mf is the same for the top as the bottom. An example is 10,000 credits has the same mf as 7,501 credits.

Bill

https://worldmark.wyndhamdestinations.com/content/dam/wyndham/wyndham-vacation-clubs/worldmark/owner-guide/documents/2024_Dues_Published_Schedule.pdf

 

[djaneczko]

I think WorldMark will transfer an ownership with a loan balance, but the loan will transfer with the ownership. It will not be a surprise ... after. If the seller did not inform about the outstanding loan, the loan status is included on the DocuSign paperwork

View attachment 101483

Thanks…bought off eBay with the seller paying closing closts. No one really bib and it was 6000 credits for $65