split a Worldmark

[slum808]

Can you split a worldmark contract in two. Say you had a 10,000, could you split it and sell off half? How would you do that?

 

[GregT]

Can you split a worldmark contract in two. Say you had a 10,000, could you split it and sell off half? How would you do that?

Steve,

Yes, the owner of a 10K account who wants to sell 5K could split their account and sell it to you. They would be the ones handling the paperwork -- I did this when I split off 15K from my 25K account (and kept 10K).

I had to fill out a form that I sent to Worldmark and it was pretty simple with only minor effort on my part (I had to make sure that the 10K that I retained kept my original WM # because it is linked to RCI and II).

I think you would simply be looking for an owner who wants to seek 5K, and if they want to sell 5K outright, or split off 5K from their existing ownership, it would be the same to you.

Good luck with your efforts!

Best,

Greg

 

[janej]

Greg,

I am interested in this information too. Does it cost $299 for split and sell or 2x$299?

Thanks,

Jane

 

[Rent_Share]

There's a wealth of info on splitting combining and the optimal account size 1 or two accounts etc . . . @ wmowners.com

 

[GregT]

Greg,

I am interested in this information too. Does it cost $299 for split and sell or 2x$299?

Thanks,

Jane

Jane, I'm sorry, I don't remember what the fees were (but definitely less than $299). I think it was inexpensive when I did it, but it wouldn't surprise me if they'd increased the fees recently to $299 -- as is Wyndham's style.

Best,

Greg

 

[Rent_Share]

It is 299 the question is it $299 or $598 Once to Split and Again to Transfer

 

[jdunn1]

It is $299, now. I sold 1k of my points earlier this year. I only had a 6k contract but wanted to get to 5k for cheaper dues and my buyer wanted 1k extra points to maximize his dues. It was a win/win for both of us.

I think (and I may be wrong about this) you have to have someone to tranfer the points to when you do the split. You can't split the points now and then list the new contract for sale. Worldmark makes you have the buyer before they will split your contract. That was my experience, anyway.

Just so you know. When I listed my add to sell 1k permanent credits on wmowners.com, I had multiple offers within days of my listing. It was a very easy process, but WM will freeze you account (no RCI trasactions, no WM transactions, no wait lists or anything) until the transfer is complete. My WM account was frozen for about a month and a half. That part about the transfer really bothered me as I was waiting of a summer trade and my account was frozen from any RCI activity for almost two months. The buyer (if they are adding points to an existing WM contract) will not have their account frozen but you will, as the seller.

 

[slum808]

Steve,

Yes, the owner of a 10K account who wants to sell 5K could split their account and sell it to you. They would be the ones handling the paperwork -- I did this when I split off 15K from my 25K account (and kept 10K).

I had to fill out a form that I sent to Worldmark and it was pretty simple with only minor effort on my part (I had to make sure that the 10K that I retained kept my original WM # because it is linked to RCI and II).

I think you would simply be looking for an owner who wants to seek 5K, and if they want to sell 5K outright, or split off 5K from their existing ownership, it would be the same to you.

Good luck with your efforts!

Best,

Greg

Thanks all for the replys,

Greg, did your buyer already have an account setup to transfer to, or did they create a new account for the 15k points?

 

[GregT]

Thanks all for the replys,

Greg, did your buyer already have an account setup to transfer to, or did they create a new account for the 15k points?

Steve, he already had a WM account that I transferred to, and I do not know if that made a difference (existing owner/new owner).

Thanks and good luck!

 

[slum808]

Thanks Greg

I'm thinking it might be easier to pick up a 6000 point contract and then find a buyer for the the 1000 points. Don't know how much I'd get, I'm more just concerned with lowering the mf. Seems like the 5000 point contracts go quickly and for a premium.

 

[GregT]

Thanks Greg

I'm thinking it might be easier to pick up a 6000 point contract and then find a buyer for the the 1000 points. Don't know how much I'd get, I'm more just concerned with lowering the mf. Seems like the 5000 point contracts go quickly and for a premium.

Steve,

That makes sense about buying the 6K -- and you can also easily rent out those extra 1,000 credits and get your MFs back, so it may not be necessary to go the expense and hassle selling the extra 1,000 credits.

That was my conclusion when I split my original 25K. I was going to split off 20K and only keep 5K, but then I figured I'll just split off 15K, because I can always rent out any extra credits, whether its 2K, 5K or all 10K.

Good luck and let us know what you end up doing!

Best,

Greg

 

[jbcoug]

I'm not sure why there is so much advice to minimize an account to 5k. I understand that you can rent as many points as you want, but you can't get much with 5k, except maybe, every other year. The optimum size small account is actually 7k because that is the maximum at that maintenace fee rate. You can have 7k at the same yearly fee as 6k and not have to rent that extra thousand.

John

 

[Rent_Share]

I'm not sure why there is so much advice to minimize an account to 5k. I understand that you can rent as many points as you want, but you can't get much with 5k, except maybe, every other year. The optimum size small account is actually 7k because that is the maximum at that maintenace fee rate. You can have 7k at the same yearly fee as 6k and not have to rent that extra thousand.

John

Because you can rent points at a lower price than the maintenance fees and you don't have to worry about an exit strategy for as many points as Wyndham continues to run the program into the ground

 

[slum808]

I'm not sure why there is so much advice to minimize an account to 5k. I understand that you can rent as many points as you want, but you can't get much with 5k, except maybe, every other year. The optimum size small account is actually 7k because that is the maximum at that maintenace fee rate. You can have 7k at the same yearly fee as 6k and not have to rent that extra thousand.

John

For me I'd like the smallest MF I can have. All I really need is 4k per year for a flex trade. I thought about buying a 7k, but the cheaper the buy in and MF, the easier it is to convince my wife to let me buy it.

 

[GregT]

For me I'd like the smallest MF I can have. All I really need is 4k per year for a flex trade. I thought about buying a 7k, but the cheaper the buy in and MF, the easier it is to convince my wife to let me buy it.

Steve, I'd keep looking for 6K at $0.30 per credit -- eventually you will get a taker. It may take awhile (or maybe I'm just behind the times on current pricing) but $0.30 per credit was the bottom end of the market about a year ago.

I sold my 15,000 credits for approx $6,650, and then paid the broker a $1,000 fee.

Good luck!

Greg

 

[slum808]

I think $.30/point is still a fair price. I've seen some 6k going for $1850.