selling Club Wyndham- beyond confused

[Unidurtle]

Hi all, I'm helping my parents sell their CW timeshare. I'm wondering how the transfer process occurs?

I ended up calling CW today on their "certified exit" line, and they said they were only allowing 2 options at the moment to get rid of the timeshare: 1. give it up and pay the fees, it'll be gone in 22 weeks OR 2. use a 3rd party brokerage like TimeShare Broker Associates.... We were hoping to just sell it and do a title transfer, like how you sell a car, when I asked how to sell it like that, the agent said it wasnt possible.

Along with that, on one of my listings, someone asked for an estoppel letter. I also asked the agent about this and they said I could get a copy of the contract, so I was forwarded to the finance line and they ended the call without speaking to me.

So how do I transfer this deed if/when I sell it? Who will I pay the transfer fees to? Where's the contract?
TYIA

 

[chapjim]

Go to the top of the page.

Looking to buy or sell a Timeshare? Start here!​

 

[TheTimeTraveler]

Hi all, I'm helping my parents sell their CW timeshare. I'm wondering how the transfer process occurs?

I ended up calling CW today on their "certified exit" line, and they said they were only allowing 2 options at the moment to get rid of the timeshare: 1. give it up and pay the fees, it'll be gone in 22 weeks OR 2. use a 3rd party brokerage like TimeShare Broker Associates.... We were hoping to just sell it and do a title transfer, like how you sell a car, when I asked how to sell it like that, the agent said it wasnt possible.

Along with that, on one of my listings, someone asked for an estoppel letter. I also asked the agent about this and they said I could get a copy of the contract, so I was forwarded to the finance line and they ended the call without speaking to me.

So how do I transfer this deed if/when I sell it? Who will I pay the transfer fees to? Where's the contract?
TYIA

If you find a buyer for your timeshare then consider using LTTransfers to handle all the paperwork for you. I will give you their website below -- simply click on it and you will understand what they do:



www.LTTransfers.com



Legal Title Transfers is very well thought of here on the TUG forums.

Tell your parents to be sure to avoid anyone who claims they can sell it for you and wants an upfront payment. This is simply a scam designed to steal cash.

Best of luck!


















.

 

[Unidurtle]

Go to the top of the page.

Looking to buy or sell a Timeshare? Start here!​

thanks, i had read that but it only mentioned using a brokerage company, and like I asked, I thought it was more like a title transaction for a car. I am looking at brokerages now.

 

[Unidurtle]

If you find a buyer for your timeshare then consider using LTTransfers to handle all the paperwork for you. I will give you their website below -- simply click on it and you will understand what they do:



www.LTTransfers.com



Legal Title Transfers is very well thought of here on the TUG forums.

Tell your parents to be sure to avoid anyone who claims they can sell it for you and wants an upfront payment. This is simply a scam designed to steal cash.

Best of luck!


















.

sweet! thank you for this link, I think this is the way to go since I was wrong about how I thought transfers occurred.

 

[WorldT]

I don't know if I can get CWA points for free. I know I can get the regular points for free. I would first check if your points are worth anything.

 

[TUGBrian]

you are not required to use a brokerage. nor are the points likely to have any significant resale value (but anything is possible).

its usually easiest to simply surrender them back to wyndham if they said they would take them, though you do have to maintain paying the maintenance fees until its finalized!

 

[Sloane S]

thanks, i had read that but it only mentioned using a brokerage company, and like I asked, I thought it was more like a title transaction for a car. I am looking at brokerages now.

I would first check if your points are worth anything.

Most Wyndham contracts have little to no "resale" value. If you can specify what you own (without turning it in to an ad) someone here can advise.

 

[paxsarah]

you are not required to use a brokerage. nor are the points likely to have any significant resale value (but anything is possible).

its usually easiest to simply surrender them back to wyndham if they said they would take them, though you do have to maintain paying the maintenance fees until its finalized!

And they do have to maintain paying the maintenance fees through the transfer by sale/giveaway, too. OP mentioned 22 weeks for the giveback to Wyndham and it’s comparable if you’re doing a private transfer. OP, you’re unlikely to get much more than zero by selling to another individual once you take fees into account, so the main thing you’re getting by “selling” instead of giving back to Wyndham is the satisfaction of not giving back to Wyndham. (Which may or may not be worth the added hassle, depending on your feelings towards Wyndham.)

 

[Jan M.]

If you said what your parents have with Wyndham, I missed it. A contract for Club Wyndham Access points or a deed at a specific resort that gets Club Wyndham Select points? How many points?

If your parents have deeded points at one of the desirable lowest maintenance fee resorts, you can probably get a few grand for it. If the points are deeded at a higher maintenance fee resort or are Club Wyndham Access points, you'll be very lucky to break even after the closing costs and $399 Wyndham transfer fee. And you'll be paying the maintenance fees during the time it takes to get through the whole process. Three months if you're lucky but it's better to plan on four or five months.

 

[Unidurtle]

I don't know if I can get CWA points for free. I know I can get the regular points for free. I would first check if your points are worth anything.

sorry, im not sure what you mean? what are "regular points" in a Club Wynhdam timeshare?

 

[Unidurtle]

you are not required to use a brokerage. nor are the points likely to have any significant resale value (but anything is possible).

its usually easiest to simply surrender them back to wyndham if they said they would take them, though you do have to maintain paying the maintenance fees until its finalized!

right, and thats what i was originally asking was what the process was if we didnt use a brokerage.

 

[Unidurtle]

Most Wyndham contracts have little to no "resale" value. If you can specify what you own (without turning it in to an ad) someone here can advise.

right I saw the other resales on this site. Its the CW Oceanwalk in Daytona

 

[Unidurtle]

And they do have to maintain paying the maintenance fees through the transfer by sale/giveaway, too. OP mentioned 22 weeks for the giveback to Wyndham and it’s comparable if you’re doing a private transfer. OP, you’re unlikely to get much more than zero by selling to another individual once you take fees into account, so the main thing you’re getting by “selling” instead of giving back to Wyndham is the satisfaction of not giving back to Wyndham. (Which may or may not be worth the added hassle, depending on your feelings towards Wyndham.)

I talked to the LT transfer brokerage this AM and theyre turn around is around 10 weeks, but nearly $750 in fees. crazy!

 

[Floridaman76]

right I saw the other resales on this site. Its the CW Oceanwalk in Daytona

Because that location has high maintenance fees, I think that's in the "give it away" category. Wyndham may take it back, they actively do sell it still.

Another option is if it's in your parents name, just have them stop paying the MF, Wyndham will come after them, but the most they can do is wreck their credit, and it's doubtful they need good credit at their age, right?

 

[Unidurtle]

If you said what your parents have with Wyndham, I missed it. A contract for Club Wyndham Access points or a deed at a specific resort that gets Club Wyndham Select points? How many points?

If your parents have deeded points at one of the desirable lowest maintenance fee resorts, you can probably get a few grand for it. If the points are deeded at a higher maintenance fee resort or are Club Wyndham Access points, you'll be very lucky to break even after the closing costs and $399 Wyndham transfer fee. And you'll be paying the maintenance fees during the time it takes to get through the whole process. Three months if you're lucky but it's better to plan on four or five months.

Its a deeded timeshare for CW Oceanwalk in Daytona. Points, not a set week. Im not sure what you mean by the points, the membership type is CW Plus, 126k annual points. Maintenance fees are now $1200 a year.

 

[Unidurtle]

Because that location has high maintenance fees, I think that's in the "give it away" category. Wyndham may take it back, they actively do sell it still.

Another option is if it's in your parents name, just have them stop paying the MF, Wyndham will come after them, but the most they can do is wreck their credit, and it's doubtful they need good credit at their age, right?

is $1,200 high for 126k annual points? I know every timeshare is different but I didnt think it was too bad.

they are not gonna do that, they are in their early 60s.

 

[paxsarah]

is $1,200 high for 126k annual points? I know every timeshare is different but I didnt think it was too bad.

they are not gonna do that, they are in their early 60s.

It's average. I backed out the minimum program fee and assuming they're retail owners, the maintenance fee rate is $7.83/1,000 points. For comparison, Club Wyndham Access is $8.47/1,000. So this is slightly lower, but not enough lower to be particularly appealing.

 

[Sloane S]

If you look at completed ebay sales I personally think your best and easiest option is to let Wyndham take it back.

 

[HitchHiker71]

Hi all, I'm helping my parents sell their CW timeshare. I'm wondering how the transfer process occurs?

I ended up calling CW today on their "certified exit" line, and they said they were only allowing 2 options at the moment to get rid of the timeshare: 1. give it up and pay the fees, it'll be gone in 22 weeks OR 2. use a 3rd party brokerage like TimeShare Broker Associates.... We were hoping to just sell it and do a title transfer, like how you sell a car, when I asked how to sell it like that, the agent said it wasnt possible.

Along with that, on one of my listings, someone asked for an estoppel letter. I also asked the agent about this and they said I could get a copy of the contract, so I was forwarded to the finance line and they ended the call without speaking to me.

So how do I transfer this deed if/when I sell it? Who will I pay the transfer fees to? Where's the contract?
TYIA

Honestly, if Wyndham Certified Exit is willing to take it back - that is the most hassle free and likely the fastest way to exit when compared to any other option. That is my primary recommendation based upon what you've outlined here.

 

[rickandcindy23]

I talked to the LT transfer brokerage this AM and theyre turn around is around 10 weeks, but nearly $750 in fees. crazy!

It's partly because of the $399 Wyndham transfer fee, which is PER DEED/ Contract. It's not that their fees are all that high. I know there is always a backlog at this time of year.

 

[Unidurtle]

Honestly, if Wyndham Certified Exit is willing to take it back - that is the most hassle free and likely the fastest way to exit when compared to any other option. That is my primary recommendation based upon what you've outlined here.

after talking with my parents, they agree, better to just give it back to CW then try to transfer

 

[Unidurtle]

Thanks everyone! were going to eat up the rest of the points and start the forfeit process.

 

[Fido Chuckwagon]

I talked to the LT transfer brokerage this AM and theyre turn around is around 10 weeks, but nearly $750 in fees. crazy!

LT transfer fees are very reasonable. Of that $750, $399 is a transfer fee charged by Wyndham itself. The remaining $349 includes title and recording fees, and paying LT to prepare and file the paperwork.

 

[BrownThunder]

Somewhat off topic but this seems like the best forum to ask it. Does Wyndham take back points if bought through resale?

So, for example, I buy 500k points resale but then decide I want to get out of it 2-3 years down the road. Will their exit department take back the resale points I bought?