Worldmark Question

[Tacoma]

Just purchased worldmark. My question is I am asked to pay the 570 maintenance fee before closing but the points are not deposited until January. Do you pay the 2010 fees before they put the points in your account? In other words I'm assuming the fees are paid before the points not after correct. I paid 3600 for a 10000 point account. They have a "transfer fee" of 430 and then the worldmark fee of 150. Did I do OK I could still back out. Thanks

Joan

 

[Stressy]

Just purchased worldmark. My question is I am asked to pay the 570 maintenance fee before closing but the points are not deposited until January. Do you pay the 2010 fees before they put the points in your account? In other words I'm assuming the fees are paid before the points not after correct. I paid 3600 for a 10000 point account. They have a "transfer fee" of 430 and then the worldmark fee of 150. Did I do OK I could still back out. Thanks

Joan

Hi Joan,

Worldmark maint fees are paid quarterly. You really don't need an escrow per se or "transfer fee" of 430.00. Worldmark does charge the 150.00 to transfer ownership or combine accounts. So, add the 430 to the 3600.00 for 4030.00 total purchase price.

Is the owner in arrears as far as MF's? Are there any banked credits in your purchase/account? That makes a difference. You really want a "fully loaded" account. i.e. 2 yrs banked credits with January anniversary date would be ideal. 20,000 credits to use now with 10,000 coming in January.

There is no need to collect the entire years MF's unless the previous owner or seller is in arrears....you just need to be current for transfer. I assume you are dealing with an Ebay seller since they have a high closing fee plus they want a years MF's up front.



I'm not saying you should back out-but just make sure you get credit for those MF's in whatever fashion is appropriate. Have you visited www.wmowners.com ? Plenty of knowledgable owners to assist you.

Good Luck!

I LOVE my WM!

 

[cotraveller]

I've always paid the WorldMark maintenance dues quarterly. Credits are deposited into the account on the account anniversary date. My dues for those credits are paid during the year, not in advance.

The dues need to be curent for a transfer. I'd check to make sure you are payiing next years dues, not last years.

Edited to add - Looks like two of us were typing a reply at the same time. Stressy was more detailed but we said the same thing - make sure which dues you are being asked to pay.