So how does one go about seperating the two? I have tried looking into becoming a worldmark member, but it just keeps taking me in circles.
Is it possible just to assume a worldmark membership from someone who is looking to get out of one? If so, I guess that now I should go into the "patiently" waiting for one to become avaliable.
Any property listing that references "Worldmark" as part of the subject is likely "Worldmark the Club" vs Wyndham-as-a-product. The listing might say "Worldmark," "Worldmark/Trendwest" (the prior developer) or "Worldmark by Wyndham" -- but should be clear that Worldmark is the offering.
Take a look at the
Worldmark Resort Gallery (also linked earlier in this thread) and be sure to differentiate which locations are Worldmark vs Wyndham. They are clearly marked; the Red dots are in-network, native, Worldmark properties.
I've had a great transaction buying Worldmark through
RedSeason.com when we bought a resale contract in 2001. I've referred a few folks over the years who also had successful transactions. RedSeason is experienced in the process and 'holds your hand' along the way. eBay also has a steady stream of listings if you are slightly more adventuresome on tracking the process/transaction. When evaluating resale listings, consider:
- What is the size of the account? (i.e., How many credits are allocated annually?)
- What is the current point balance on the account? (i.e., How many credits have been banked into the current year and/or available to borrow? Of the current balance, is the listing including the future year's points for borrowing -- or does the current balance truly reflect the current balance?)
- Is the account fully paid up? (No loan against original purchase; not owing back dues; not owing any back fees?)
- What is the anniversary month of the account? (Not a big deal -- but buying an account with a soon-approaching anniversary month might sweeten the pot as it will earn its new allotment of credits on the anniversary.)
- Will the seller pay the account transfer fee? (Usually this fee is paid by the buyer ... but it doesn't hurt to ask. Worldmark's transfer department charges $299 (?) for the account transfer process. If the seller also shows additional escrow/closing costs they are baloney (fabricated) but might be OK if the total package price is still worthwhile.)
- Be mindful that should a listing claim "Travelshare" -- that component does NOT transfer with resale purchase. You might recognize an ad for Worldmark + Travelshare by looking at the annual dues. If the dues are listed as "monthly" -- this ad implies Travelshare. It could be that the seller doesn't understand the difference. Worldmark dues are paid annually or quarterly if set up with "auto pay."
- (That is all I got off the top of my head ... for now)
YES -- you can assume the loan on a Worldmark contract that has not yet paid off. I doubt that process will be less expensive than buying a paid-off contract with cash ... but it may lower the initial out-of-pocket expenses if that is a concern.
