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Unload Wyndham Timeshare

Richelle

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I did PM the OP but still wondering. I understand the OP was asking for fastest way to get rid of their points. I also understand that possibly would be the Ovation program. I also wonder why the owner doesn't just give the points away on TUG and have the buyer pay all transfer costs? It's not very tough to post on the bargain board and I'm positive there would be takers. It seems to me why would you give something back to Wyndham that you paid for and have the company profit off it, when you could give the points to someone individual who would benefit from them so very much. IMO the easiest way seems to be what our society is leaning towards instead of the best way.
I’ll tell you why. On April 30th, I started the process of giving away my Branson contract. I had to get an estoppel which took 20 days because they screwed up the first one. We then filled out a sales agreement. Once that was done, LT collected payment from the buyer for closing and transfer fees. Paperwork was filled out and completed. The paperwork got mailed and Wyndham received it on June 24th. When you account for the time we started the process, we are in week 13. It’s been with a Wyndham for 5 weeks and I expect at minimum it will be another 3-5 more weeks. So that’s 4-5 months worth of maintenance fees I’m paying while waiting for the process to complete. So even though the buyer took care of the fees, in the end, it will have cost me $885 in maintenance fees on points I cannot use.

As I detailed above, Ovations took less then 4 weeks from start to finish for my Ocean Boulevard contract. If I would have done Ovations with Branson, I’d be done by now and I would have only spent $177 in maintenance fees. $354 if they were running slow and it went more then 4 weeks. I would have saved at least over $500 if I would have went with Ovations instead of giving it away.


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Grammarhero

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I’ll tell you why. On April 30th, I started the process of giving away my Branson contract. I had to get an estoppel which took 20 days because they screwed up the first one. We then filled out a sales agreement. Once that was done, LT collected payment from the buyer for closing and transfer fees. Paperwork was filled out and completed. The paperwork got mailed and Wyndham received it on June 24th. When you account for the time we started the process, we are in week 13. It’s been with a Wyndham for 5 weeks and I expect at minimum it will be another 3-5 more weeks. So that’s 4-5 months worth of maintenance fees I’m paying while waiting for the process to complete. So even though the buyer took care of the fees, in the end, it will have cost me $885 in maintenance fees on points I cannot use.

As I detailed above, Ovations took less then 4 weeks from start to finish for my Ocean Boulevard contract. If I would have done Ovations with Branson, I’d be done by now and I would have only spent $177 in maintenance fees. $354 if they were running slow and it went more then 4 weeks. I would have saved at least over $500 if I would have went with Ovations instead of giving it away.


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LT Transfers does have a $75 rush fee whereas they will put you in the front of the queue. Might be worth it for buyer to pay to Minimize seller’s monthly MF.
 

jules54

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I was really suggesting give away to anyone not only Tug members. I should have made that clear. Hope we hear from OP to see what they decided to do.
 

Richelle

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I was really suggesting give away to anyone not only Tug members. I should have made that clear. Hope we hear from OP to see what they decided to do.
I was responding to this part of your post, where you were asking why we would give it to Wyndham instead of an individual. The short answer is because it’s the cheaper option. It’s not for you or anyone to say what is the best way. The best way is whatever works for that owner. Maybe the owner doesn’t want to pay five months of maintenance fees so someone else can use the points.

“It seems to me why would you give something back to Wyndham that you paid for and have the company profit off it, when you could give the points to someone individual who would benefit from them so very much. IMO the easiest way seems to be what our society is leaning towards instead of the best way.”



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Richelle

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LT Transfers does have a $75 rush fee whereas they will put you in the front of the queue. Might be worth it for buyer to pay to Minimize seller’s monthly MF.
Once they had the transfer check from the owner, they recorded the deed and had it shipped to Wyndham in under a week. Not sure a rush fee would have done much better. The longest wait was waiting on Wyndham to get around to sending the estoppel, and then sending me the corrected estoppel. The second longest part was getting the new owner to send in payments.


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Grammarhero

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Once they had the transfer check from the owner, they recorded the deed and had it shipped to Wyndham in under a week. Not sure a rush fee would have done much better. The longest wait was waiting on Wyndham to get around to sending the estoppel, and then sending me the corrected estoppel. The second longest part was getting the new owner to send in payments.


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New owner taking so long to send in payments is ridiculous. When I worked with LT transfer on multiple occasions, I always paid the same day with PayPal. Sorry that you had wait all those months. If the deal was between us, it’d obviously be much faster.

Obviously, we are now recommending that Wyndham owners go through Ovations, or have the buyer cover transfer, closing costs, and three months of Mf. I take it your Branson was for EY 327k pts?
 
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Richelle

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New owner taking so long to send in payments is ridiculous. When I worked with LT transfer on multiple occasions, I always paid the same day with PayPal. Sorry that you had wait all those months. If the deal was between us, it’d obviously be much faster.

Obviously, we are now recommending that Wyndham owners go through Ovations, or have the buyer cover transfer, closing costs, and three months of Mf. I take it your Branson was for EY 327k pts?
Close. 308,000. It was a combination of waiting for the PayPal payment and the transfer check. They had her pay the closing costs through PayPal and mail a check for $299 for Wyndham. It took about two weeks for that all to get done. I think they did it separately because PayPal takes a percentage. So LT would have to pay the portion PayPal takes. They could always increase their closing costs but doing it that way means they can advertise lower fees. I think it’s risky to have the owner write the check to Wyndham. If it bounces, the process gets delayed. If it were me, I’d increase my closing costs by $10 to account for the fee, and not risk bounced checks.


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Richelle

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New owner taking so long to send in payments is ridiculous. When I worked with LT transfer on multiple occasions, I always paid the same day with PayPal. Sorry that you had wait all those months. If the deal was between us, it’d obviously be much faster.

Obviously, we are now recommending that Wyndham owners go through Ovations, or have the buyer cover transfer, closing costs, and three months of Mf. I take it your Branson was for EY 327k pts?
I’m kicking myself now for not going through Ovations. The extra month and a half on the front end would not have happened if I went through Ovations. Plus, once they got the paperwork, it would have been about a week and the maintenance fees would have stopped.


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Grammarhero

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I’m kicking myself now for not going through Ovations. The extra month and a half on the front end would not have happened if I went through Ovations. Plus, once they got the paperwork, it would have been about a week and the maintenance fees would have stopped.


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Would it be fair to say that a private transfer versus Ovation takes three (3) months longer, thus three (3) months of MF?
 

Richelle

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Would it be fair to say that a private transfer versus Ovation takes three (3) months longer, thus three (3) months of MF?
When you factor in the leg work that has to be done by all parties, even before it gets to Wyndham, I’d say yes, that’s fair. One could be looking at a total of 4-6 months when you factor in the time it takes just to get everything that needs to be submitted to Wyndham, and the transfer time once it gets to Wyndham. Ovations is a couple months tops, provided the owner is quick to get the paperwork back to Wyndham.


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dgalati

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Would it be fair to say that a private transfer versus Ovation takes three (3) months longer, thus three (3) months of MF?
Not always but I will Agree that it can take 3 months longer. My experience on selling deeds or buying -On occasion Wyndham has transferred resale deeds after they received the recorded deed within 3 weeks. but some have taken 16 weeks its mystery meat no rhyme or reason. If Wyndham is involved or is the buyer it takes 1 month or less form start to finish, that is with Ovations or selling thru third party to Wyndham. Yes Wyndham is buying deeds back at a minimal cost thru third parties.
 

dandjane1

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I wonder how my Wyndham "Pathways" program will end up working out when we decide to get out. Of our 3,858,00 points, 1,242,00 are resale points and not eligible. We're supposed to get the 20% of cost, and the UDI at Oceanwalk and CWA should be considered good and valuable contracts. I hate to contact them earlier than when we're ready to deal. What does the group think? Thanx in advance. Anyone have experience with Pathways?
 

md8287

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I wonder how my Wyndham "Pathways" program will end up working out when we decide to get out. Of our 3,858,00 points, 1,242,00 are resale points and not eligible. We're supposed to get the 20% of cost, and the UDI at Oceanwalk and CWA should be considered good and valuable contracts. I hate to contact them earlier than when we're ready to deal. What does the group think? Thanx in advance. Anyone have experience with Pathways?
I would definitely not contact them before you are ready.
 

Grammarhero

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I wonder how my Wyndham "Pathways" program will end up working out when we decide to get out. Of our 3,858,00 points, 1,242,00 are resale points and not eligible. We're supposed to get the 20% of cost, and the UDI at Oceanwalk and CWA should be considered good and valuable contracts. I hate to contact them earlier than when we're ready to deal. What does the group think? Thanx in advance. Anyone have experience with Pathways?
You must live the dream traveling the world. You pay $25k in MF annually? You live in your TS full-time?
 

dgalati

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I was responding to this part of your post, where you were asking why we would give it to Wyndham instead of an individual. The short answer is because it’s the cheaper option. It’s not for you or anyone to say what is the best way. The best way is whatever works for that owner. Maybe the owner doesn’t want to pay five months of maintenance fees so someone else can use the points.

“It seems to me why would you give something back to Wyndham that you paid for and have the company profit off it, when you could give the points to someone individual who would benefit from them so very much. IMO the easiest way seems to be what our society is leaning towards instead of the best way.”

Ovations also becomes the cheapest way to get rid of a deed when it transfers in 4-5 weeks. Wyndham has played the Ovation hand well. Take back deed at $0 then resell at 20-30k. Great business model. Wyndham also will not take a ownership back unless its been owned for a year.

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HitchHiker71

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It seems to me why would you give something back to Wyndham that you paid for and have the company profit off it, when you could give the points to someone individual who would benefit from them so very much. IMO the easiest way seems to be what our society is leaning towards instead of the best way.”

Ovations also becomes the cheapest way to get rid of a deed when it transfers in 4-5 weeks. Wyndham has played the Ovation hand well. Take back deed at $0 then resell at 20-30k. Great business model. Wyndham also will not take a ownership back unless its been owned for a year.
People inherently do what is in their own interests economically almost without exception. It's called economic self interest. People are never going to choose to do something that is more expensive for themselves simply because there's a chance it might prove less profitable for any one company that may be involved - in this case Wyndham. Put in your own words, the "best way" is whatever is in the economic self interest of the party attempting to unload their timeshare - whether it's easy or not. If Ovations is less expensive for the owner, and it probably is given everything we have discussed in this thread, then that's the logical choice that every consumer will make based upon their own economic self interest. The fact that Wyndham has designed a program in Ovations that makes it easy for the owner to hand in their timeshare - easier than other third party options - shows that they understand this basic principle.
 

dgalati

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People inherently do what is in their own interests economically almost without exception. It's called economic self interest. People are never going to choose to do something that is more expensive for themselves simply because there's a chance it might prove less profitable for any one company that may be involved - in this case Wyndham. Put in your own words, the "best way" is whatever is in the economic self interest of the party attempting to unload their timeshare - whether it's easy or not. If Ovations is less expensive for the owner, and it probably is given everything we have discussed in this thread, then that's the logical choice that every consumer will make based upon their own economic self interest. The fact that Wyndham has designed a program in Ovations that makes it easy for the owner to hand in their timeshare - easier than other third party options - shows that they understand this basic principle.
I Agree on all points. Wyndham has capitalized on the need of owners wishing to unload a ownership that has become a burden to them financially. It is a better option then paying exit companies or trying to navigate the murky waters of giving it away for free.
 

Grammarhero

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I Agree on all points. Wyndham has capitalized on the need of owners wishing to unload a ownership that has become a burden to them financially. It is a better option then paying exit companies or trying to navigate the murky waters of giving it away for free.
I actually think Wyndham Ovations has, for Wyndham TS resale sellers, increased their purchase prices. Before, buyers might pay transfer and closing costs. Now, Wyndham TS resale sellers could demand transfer, closing costs, and three months of MF to even consider giving away for free.
 

dgalati

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I actually think Wyndham Ovations has, for Wyndham TS resale sellers, increased their purchase prices. Before, buyers might pay transfer and closing costs. Now, Wyndham TS resale sellers could demand transfer, closing costs, and three months of MF to even consider giving away for free.
I have to disagree on prices being higher. :bawl: I have seen the pricing on resale deeds (buying or selling) has dropped over the last 5 years. I actually tried to give back deeds to Wyndham thru Ovations because I could not find a buyer to pay closing and resort transfer fees. Fortunately Wyndham would not take them back because I didn't own them for at least 1 year. I was able to sell them thru a third party to Wyndham. I was contacted by a Wyndham preferred reseller on a add I had on TUG market place.:shrug:
 

Grammarhero

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I have to disagree on prices being higher. :bawl: I have seen the pricing on resale deeds (buying or selling) has dropped over the last 5 years. I actually tried to give back deeds to Wyndham thru Ovations because I could not find a buyer to pay closing and resort transfer fees. Fortunately Wyndham would not take them back because I didn't own them for at least 1 year. I was able to sell them thru a third party to Wyndham. I was contacted by a Wyndham preferred reseller on a add I had on TUG market place.:shrug:
I stand corrected then.
 

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I stand corrected then.
No need to stand corrected. I thought Ovations would have helped prices go up but it actually set pricing at or just above $0. Over the last 5 years I have seen prices drop on resale deeds and it may of had more to do with mega renters being pushed out of the resale market over the stripping of deeds being stopped by Wyndham.
 

Richelle

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Actually, I had it less then a year. I replaced it with a Canterbury contract that had the same maintenance fees but more points. It may depend on what you are turning in and if they need more inventory. I did see where it said you had to own it a year. I figured if mine didn’t qualify, they would not have proceeded.


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dgalati

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Actually, I had it less then a year. I replaced it with a Canterbury contract that had the same maintenance fees but more points. It may depend on what you are turning in and if they need more inventory. I did see where it said you had to own it a year. I figured if mine didn’t qualify, they would not have proceeded.


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Good to know, next time I wont question it and see if it transfers. I was able to sell it for the cost of 3 months of the maintenance fees so it was a wash.
 

Grammarhero

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Actually, I had it less then a year. I replaced it with a Canterbury contract that had the same maintenance fees but more points. It may depend on what you are turning in and if they need more inventory. I did see where it said you had to own it a year. I figured if mine didn’t qualify, they would not have proceeded.


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Looks like LT transfers can accept transfer fees via PayPal for extra 5%. For a seller paying monthly MF, might be good to ask buyer to pay extra $15.
 

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Richelle

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Looks like LT transfers can accept transfer fees via PayPal for extra 5%. For a seller paying monthly MF, might be good to ask buyer to pay extra $15.
I guess they didn’t want to pay the fee. They didn’t go over that with me as the seller, since the buyer was paying the fees. I was out of that conversation. I would have been willing to cover it.


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