Retail, Recind, Resale and More

[Cain_Dogg]

OK - Lots of great advice here, and lots more to learn, so here goes:deadhorse: :

Recently bought 154K Wyndham points retail with 154K bonus points + VIP for 2 years at Wyndham Vacation Resorts Panama City Beach for ~$21K after a lengthy Sunday sales meeting. As soon as I got home, I got to searching (totally new to t/s). Checked out Wyndham as a company on NYSE, googled and found tuggs and timeshareforum - (nearly identical sites BTW w/tons of educated assistance). Bottom line is, recission is highly advised and WILL BE excercised. First question - Does anyone have an appropriate recission letter they have used and would be willing to send me? I hope my gratitude would be payment enough.

After recinding, I will continue to explore the option of t/s w/WFP, but on the resale market, and with potential options of upgrading retail sometime down the road. Is there anyway to find a list of avg. MF (maintenance fees) per point by resort?

After MF, do you find that t/s is actually more or equally affordable to regular vacationing?

The contract paperwork specifically prohibits retail salespersons from making statements that t/s can be used to make profit through renting. Is there profit to be made by renting space at a home resort - thereby driving interest and reducing availability to buy at a place like Bonnet Creek?

What is Outriggers Club (e.g. in Hawwaii), and are they available to stay at for any owner?

What is PIC?

THE QUESTIONS KEEP COMING, 1,000 MORE TO COME - Thanks to "AwayWeGo", "bnoble", "Jya-Ning", "DeniseM", "NJCOBRA10tha" for all your replies on my other threads - I think you all live here judging by your rapid responses. I have checked some of your web pages and find you may be making a business from t/s. DeniseM - I don't suppose your the same Denise M. who sold to me retail in AC this past w/e? If you are - thanks for the advice to Recind!!! If not - thanks for the advice to Recind!!!

I checked out e-bay and found some unbelievable deals (e.g. 900K points at Bonnet Creek for ~$3K - But I don't think I want all that annual MF associated with it), but was skeptical about the integrity of the seller due to what appear to be fictitious bidders with names like r***c or g***f etc... Are there other sites with resale at 1/10 value with more reputable sales persons?

Thanks for reading to the end!!!

 

[AwayWeGo]

Nice Knowing That Some Of The T. U. G. - B. B. S. Words Of Wisdom Are Heeded.

After MF, do you find that t/s is actually more or equally affordable to regular vacationing?

Timeshare vacationing for us has worked out to luxury accommodations for roughly Motel 6 & Super 8 rates.

What is PIC?

That's the Wyndham timeshare company's way of letting Wyndham full-freight buyers add the non-Wyndham timeshares that they already own to the buyers' Wyndham FairShare Plus Points totals. I don't know what the initials P-I-C stand for.

I checked out e-bay and found some unbelievable deals (e.g. 900K points at Bonnet Creek for ~$3K - But I don't think I want all that annual MF associated with it), but was skeptical about the integrity of the seller due to what appear to be fictitious bidders with names like r***c or g***f etc... Are there other sites with resale at 1/10 value with more reputable sales persons?

Those bidders aren't ficticious. eBay masks bidders' identities that way to cut down on bogus after-auction scams against the bidders -- e.g., fake 2nd chance offers. It works. I used to get fake 2nd chance offers with surprising frequency -- never received a 2nd chance offer that was on the level, not 1. Since eBay quit showing bidders' identities but started showing psdudonyms ( r***c, g***f, etc.) instead, the flow of bogus 2nd chance offers has stopped entirely. Who'd a-thunk.

-- Alan Cole, McLean (Fairfax County), Virginia, USA.​

 

[bnoble]

The rental disclaimer language is there purely as a Cover-Your-A** mechanism. That way, no one can later sue Wyndham, claiming that they were mislead that this is a means to a rental business. (The documents have similar language about "not an investment.")

Building a rental business is possible, and there are tuggers who do it. It's also a lot of work, and in my opinion requires a sizable ownership stake to do properly.

I've found timeshare has reduced my costs per vacation, but only modestly. After all, lodging is often a small part of any particular trip's budget. There's also travel, food, entertainment, etc. Timeshare has also increased the number of vacations I take annually. Thus, I am spending more money than I used to. But, I'm also taking more vacations. So, it's not all bad.

 

[Sunterra]

First question - Does anyone have an appropriate recission letter they have used and would be willing to send me? I hope my gratitude would be payment enough.

"I herby rescind, please acknowledge and return my down payment."

 

[BocaBum99]

Good idea. I just bought over 1.1M Wyndham points for less than $2800. It is truly disappointing that Wyndham doesn't have an aggressive buy back program to help create a market for resale points.