IS THIS A GOOD BUY? [Wyndham Glades]

[irandy1948]

I'M AS NEW AND GREEN AS THEY COME. POINTS SEEM FLEXIBLE, I JUST DON'T KNOW ENOUGH TO MAKE AN INFORMED DECISION.

Wyndham Glades 189000 annual points.
Prices is $1.00 plus transfer costs of $599 plus 2017 fees. All 2017 points available to you plus I am offering an additional 189,000 RCI points reserved. Go anywhere in the Wyndham or RCI network. Timeshare Transfers used to assure a safe transaction for both parties. All program fees are current through 2017.

 

[theo]

I'M AS NEW AND GREEN AS THEY COME. POINTS SEEM FLEXIBLE, I JUST DON'T KNOW ENOUGH TO MAKE AN INFORMED DECISION.

Wyndham Glades 189000 annual points.
Prices is $1.00 plus transfer costs of $599 plus 2017 fees. All 2017 points available to you plus I am offering an additional 189,000 RCI points reserved. Go anywhere in the Wyndham or RCI network. Timeshare Transfers used to assure a safe transaction for both parties. All program fees are current through 2017.

If it's Timeshare Transfers (with an "s" of Boulder Colorado) that's involved here, just turn around and run away right now.
Their track record is abysmal and a search will easily reveal some of their recent "encounters" with the Colorado legal system.
They are simply not to be trusted and you don't need or want whatever screwed up mess into which they may well drag you.

If it's Timeshare Transfer (with no "s") out of Vero Beach, Florida, then that is a reputable and trustworthy closing entity.

You don't identify the annual maintenance fees associated with this "product", This something to know very clearly and consider fully, entirely apart from the initial low cost of acquisition. Acquisition is cheap and easy, but maintenance fees are forever. Btw, Wyndham charges a $299 "transfer fee"; I hope that $299 is already specifically included within the hefty $599 you've cited as closing costs. Do you know?

There is certainly not an "additional 189,000 RCI Points reserved" (whatever that's supposed to mean --- points don't actually get "reserved"). That figure more likely simply reflects the annual Wyndham points allocation associated with this particular product, maybe with the prior year Wyndham points deposited into RCI . To be clear, RCI Points and Wyndham Points are not one and the same thing and their "points values" do not correlate with one another. The reference you have cited is surely to Wyndham (not RCI) points.

Go anywhere in the Wyndham and RCI network? Sure... if you have enough points in hand to book and space is available for reservation when and where you may want to go. There are never any guarantees of actual availability.

I respectfully suggest that you may not yet be prepared to buy as a fully informed consumer (just offering my own unsolicited personal opinion).
You should probably study up learn more before signing on to such a long term obligation and its' annual costs. Don't proceed in haste just because "it's only a buck plus closing costs to buy in".

I'd pass, learn more. There will be other "deals" --- and far more trustworthy closing entities than that very shaky operation out in Boulder, CO.

 

[Ty1on]

What are the maintenance fees? I suspect it is high, it depends on theassociation and in some cases the unit size.

I would NOT pay the 2017 maintenance fees. Glade contracts are fixed week conversions and all 2017 fees were paid in full as of December 31, 2016 (FW conversions MF are collected in advance throughout the prior year). The 2017 fee is a sunk cost for the current owner. If you pay it, you will also be immediately paying monthly fees that include the 2018 maintenance fees.

PS yes, I read it also that seller has 189K Wyndham points deposited in RCI. They don't state when those points expire.

Put bluntly, I'd offer the seller to pay the transfer costs and that's it. They can keep their RCI deposit if they want and they can use their 2017 points if they want. You'll find a better deal, perhaps something where you pay $1K-$1.5K all-in and the seller doesn't play games about paying MF that are already sunk costs, for a contract with lower maintenance fees.

 

[tschwa2]

They are Wyndham points. I have a feeling the MF per 1000's points are a little on the high side. I think what they mean is they deposited their 2016 points with RCI to use in RCI. Trick is I don't think those RCI account points will transfer. The 2017 points will also have to be used before the end of 2017 as it is too late to pool them. After you get account set up in your name you would be able to deposit the 2017 points you aren't able to use into RCI but I don't know how useful they will be to you.

 

[irandy1948]

THANKS VERY MUCH FOR THE ADVISE. ONWARD AND UPWARD

 

[Jan M.]

As OP have posted on another thread, this time of year isn't a particularly good time to buy as there is typically less to pick from and prices seem to go higher. That doesn't mean you can't find some good deals but you need to have a better understanding of what is a good deal. You might be better off to watch what is available for a while to get an idea of what is out there and what you can expect to pay. There is a thread on TUG where you can take a look at the maintenance fees at many of the resorts and maybe look for something a one of the resorts with low maintenance fees.

I would look for something with more points as 189,000 points probably isn't going to be nearly enough. Especially if you need more than 2 bedrooms or are looking to go during the peak times like summer and holidays.