Willing to pay for help reselling Wyndham contracts

[jebloomquist]

I’m looking for help from some TUGGER who has actually sold one or more Wyndham timeshare contracts and handled all of the documentation them self.

I currently am interested in unloading 15 contracts. Certified Exit would not take several and wanted only the cream. One of the Wyndham recommended resellers was willing to do it for $1,500 per contract. For my 15 contracts that’s $22,500. I ended communications there.

I want to get rid of all 15 and simply break ever. I’m looking for someone to take on all 15 contracts with the promise that they get the net positive total after expenses from all the sales.

The 15 contracts contain some great low maintenance resorts and some lemons. It’s a mixture.

If you are interested, send me a personal message to get more details.

Jim

 

[kaljor]

I'm absolutely NOT one of the Wyndham experts posting here, but I do know that in general, Wyndham contracts have very little resale value. The folks who don't know anything about Wyndham (or timeshares in general) will stay away from buying anything resale. The frequent or constant radio commercials from Timeshare Exit companies likely scare the hell out of those listeners, Savvy timeshare owners like the posters here will never overpay for a resale contract,

So you end up with the same options everyone else has. Certified Exit, find a sucker, or stop paying Maintenance fees on the contracts that Wyndham won't take back. I admit that they're not great choices, but that's how I see it. Good luck.

 

[dioxide45]

Legally, if someone is going to help price and prepare paperwork in relation to the sale of a timeshare week, they should be a licensed real estate agent. That is why those other agents charge money for their work. They have the licenses and insurance required to legally do this work.

 

[Roger830]

The sales and closing process is similar for a cash house deal and a timeshare, so $1500 seems reasonable if there is no upfront cost.

We own at the Hollywood Sands Resort.
One-bed fixed weeks in January thru March have been selling for $5000-6000 and more. I know a couple that paid $10,900 for a week 7 and the only 2-bed week 7 sold at a three way auction for $11,000.
At Wyndham Sea Gardens, we have a 1-bed ninth floor week 7 with ocean and inner coastal views that probably doesn't have any resale value and is much larger and nicer than Hollywood Sands.

 

[dioxide45]

The sales and closing process is similar for a cash house deal and a timeshare, so $1500 seems reasonable if there is no upfront cost.

We own at the Hollywood Sands Resort.
One-bed fixed weeks in January thru March have been selling for $5000-6000 and more. I know a couple that paid $10,900 for a week 7 and the only 2-bed week 7 sold at a three way auction for $11,000.
At Wyndham Sea Gardens, we have a 1-bed ninth floor week 7 with ocean and inner coastal views that probably doesn't have any resale value and is much larger and nicer than Hollywood Sands.

$1,500 would be quite a bit if the weeks are worth $0. That $1,500 would all be out of the owners pocket.

Best thing to do is to identify the ones that Wyndham thought had value and try to determine that value and list them for the bit of profit. Then try to give the others away in the Free Timeshare Giveaway forum.

 

[kanerf]

The first thing you need to do is find people who want these timeshares. You can list them for free on TUG and there are people that like Wyndham here. Once you find a taker you can use LT Transfers or another company to legally transfer the contract.

 

[b2bailey]

As a point of interest -- would you be willing to give us a list of locations Wyndham WILL take back -- and those they won't?
Just curious about Wyndham POV.

 

[Roger830]

$1,500 would be quite a bit if the weeks are worth $0. That $1,500 would all be out of the owners pocket.

Best thing to do is to identify the ones that Wyndham thought had value and try to determine that value and list them for the bit of profit. Then try to give the others away in the Free Timeshare Giveaway forum.

Yeh, it's a lot to pay, but If an agent has the ability to unload the dogs, it might be better then to continuing paying mf.

 

[bnoble]

Just curious about Wyndham POV.

I'm not sure Jim's experience is going to match what a random owner might see when talking with Certified Exit. We've been told that Wyndham may well be treating people on the Naughty List differently when thinking about taking back their deeds, and a few people have shared their discussions with Wyn. If memory serves, one TUGger who received The Letter claimed to have offered Wyndham all of their resale deeds but wanted to retain their VIP-eligible ones; Wyndham declined, instead telling them they could give back all of them, or none of them. Other people have suggested similar thinking by folks at Wyndham.

Of course, I have no idea if Jim is on the Naughty List, but even so---just because person A is told no about deed X, doesn't mean person B will be told the same thing. The only way to know is to ask, and even then the answer is likely to change over time.

 

[bnoble]

Best thing to do is to identify the ones that Wyndham thought had value and try to determine that value and list them for the bit of profit. Then try to give the others away in the Free Timeshare Giveaway forum.

...and if you are liquidating your Wyndham ownership entirely, it might be worth selling what you can, giving away what people will take, and then just defaulting on the stuff that is truly negative-value. It may well be a credit hit, but depending on one's borrowing needs over the next 5-10 years that might not matter. Overall that might be the least expensive way out.

Unfortunately, this doesn't work if you want to retain any Wyndham ownerships, because Wyn will freeze the entire account if any of the underlying MFs are not current.

 

[bogey21]

I'd first give Wyndham what they will take then regroup and figure out what to do with the rest...

George

 

[Ty1on]

I'd first give Wyndham what they will take then regroup and figure out what to do with the rest...

George

This one right here.

 

[dioxide45]

I'd first give Wyndham what they will take then regroup and figure out what to do with the rest...

George

Wyndham may only want the ones that you can sell for some actual cash. Instead you could sell them yourself and use the cash to cover the losses you take on the other dog weeks.

 

[TUGBrian]

id certainly list all 15 in the free bargain section for free and see how many more you can whittle down.

you are welcome to donate whatever percentage of the 1500/each you feel is fair to TUG for each one you find a taker for =D

 

[rickandcindy23]

You CAN close these yourself. You can contact the county in which the deeds are recorded, find out what they charge for recording fees, re-type the deed that you have, basically copying it verbatim, put your name as grantor, the new buyer as grantee, get everything notarized, mail it to the county with a personal check for the full amount of the recording fees. The document should go back to you, so you can forward it to the new buyer. Takes 3-4 weeks. Wyndham can take 12 weeks. That would be the problem, Wyndham's time in transfer. Their fee is $299.

John Kushman of Resort Closings/ Buy and Sell Timeshares, may help you with the sale. I am working on selling my own contracts. I have some big Smoky Mountains ones list on TUG. I am just trying to cover the cost of three months of MF's for 2022 because I will be paying those in the meantime. I also asking the $299 fee and recording fees, which I am guessing at.

I want to be done with all of my resale Wyndham.

 

[jebloomquist]

Wyndham may only want the ones that you can sell for some actual cash. Instead you could sell them yourself and use the cash to cover the losses you take on the other dog weeks.

id certainly list all 15 in the free bargain section for free and see how many more you can whittle down.

you are welcome to donate whatever percentage of the 1500/each you feel is fair to TUG for each one you find a taker for =D

You CAN close these yourself. You can contact the county in which the deeds are recorded, find out what they charge for recording fees, re-type the deed that you have, basically copying it verbatim, put your name as grantor, the new buyer as grantee, get everything notarized, mail it to the county with a personal check for the full amount of the recording fees. The document should go back to you, so you can forward it to the new buyer. Takes 3-4 weeks. Wyndham can take 12 weeks. That would be the problem, Wyndham's time in transfer. Their fee is $299.

John Kushman of Resort Closings/ Buy and Sell Timeshares, may help you with the sale. I am working on selling my own contracts. I have some big Smoky Mountains ones list on TUG. I am just trying to cover the cost of three months of MF's for 2022 because I will be paying those in the meantime. I also asking the $299 fee and recording fees, which I am guessing at.

I want to be done with all of my resale Wyndham.

Most of the replys to the thread have been helpful. These three are suggesting reasonable paths that I may have to take. Also I have had a few PMs that I am responding to.

 

[55plus]

I’m looking for help from some TUGGER who has actually sold one or more Wyndham timeshare contracts and handled all of the documentation them self.

I currently am interested in unloading 15 contracts. Certified Exit would not take several and wanted only the cream. One of the Wyndham recommended resellers was willing to do it for $1,500 per contract. For my 15 contracts that’s $22,500. I ended communications there.

I want to get rid of all 15 and simply break ever. I’m looking for someone to take on all 15 contracts with the promise that they get the net positive total after expenses from all the sales.

The 15 contracts contain some great low maintenance resorts and some lemons. It’s a mixture.

If you are interested, send me a personal message to get more details.

Jim

I'm curious. What contracts will Wyndham take back and what won't they take back?

 

[TUGBrian]

Most of the replys to the thread have been helpful. These three are suggesting reasonable paths that I may have to take. Also I have had a few PMs that I am responding to.

I was kidding about the donation part =) but hey, first time for everything!

that said ive no doubt you could likely dispose of a number of them with nothing more than a post in the bargain deals section here.

 

[Ty1on]

I'm curious. What contracts will Wyndham take back and what won't they take back?

It's a moving target, and unfortunately, you don't know until you call and talk to them.

 

[jebloomquist]

Several TUGgers have asked which resorts I was offering. I did not mention them because I did not want this to turn into a pitch to sell them and then be bumped by the TUG administrators. I will have to get back to Certified Exit to get the exaxct list of which contracts were turned down and which accepted. I do recall that CE on some occassions accepted one contract and refused another from the same resort. My 80% recall is that CE did not like converted weeks. When CE would not accept all 15 contracts, I just turned and went in a different direction. For those who have asked about the account or more information about the 15 contracts, I will state the following. I am trying to unload about 2.5 million points with a total maintenance fee of about $14,000 in 2021 out of a 7 million point account. I would like to get down to about 4.5 million points. Given the way that Wyndham Destinations has been administered as of late, $35,000 per year in maintenance fees is too much for me to handle.

 

[TUGBrian]

if you are giving them all away, ill move this to the bargain deals forum and you can post the list.

 

[bogey21]

I'd first give Wyndham what they will take then regroup and figure out what to do with the rest...

You want out of MFs. Why procrastinate? Take the sure thing and give Wyndham what they will take before they change their mind. Then figure out what to do with what is left...

George

 

[jebloomquist]

You want out of MFs. Why procrastinate? Take the sure thing and give Wyndham what they will take before they change their mind. Then figure out what to do with what is left...

George

The reason that I don't do exactly as you suggest is that the contracts that Wyndham will take have some value in the resale market. A 300k contract with a maintenance fee of $4.50 per thousand points has value enough to offset the expense when selling a $6.00 per thousand points contract. I'm just looking for any guidance in how to minimize my loses, or possibly maximize any gain. It cost me a lot to get my points. I just hope that it won't cost me too much to get rid of them. Capisce?

 

[bogey21]

I march to a different drummer. Three examples: (1) At one time in my career, I used to trade Government Bonds in multimillion dollar blocks. An old Bond Trader told me "Your first loss is your best loss". Following his advice served me well. (2) Another example I have enunciated here previously was in finding good homes for my race horses who weren't going to make it on the track. Routinely I would pay people $500 to $1,000 to take them figuring the quicker they were gone the less my expenses to keep them would be. And (3) I owned a TS Week at Orofino at Straight Creek and got wind of a large Special Assessment in my future. I gave the HOA $1,000 to take it back and saved many times that by quick action. Good luck. Different strokes for different folks...

George

 

[rickandcindy23]

The reason that I don't do exactly as you suggest is that the contracts that Wyndham will take have some value in the resale market. A 300k contract with a maintenance fee of $4.50 per thousand points has value enough to offset the expense when selling a $6.00 per thousand points contract. I'm just looking for any guidance in how to minimize my loses, or possibly maximize any gain. It cost me a lot to get my points. I just hope that it won't cost me too much to get rid of them. Capisce?

We are in a similar place. You are selling 2.5 million points, I am selling about 4 million, but I want to keep about 4.5 million points to keep my two accounts and the status that goes with those. I have not even used PIC for a while. I forget to do it. The weeks are valuable as weeks. So why PIC?

I advertised on TUG classifieds and have sold a few already. I don't have any with fees of $4.50 per thousand that I am selling. Pagosa Springs is the one I will probably never be able to get rid of. I actually have TWO of those things. The fees were cheap when I bought them, and now they are ridiculously high. I am even keeping one resale, a New Mexico Angelfire that is very cheap in MF's.