I received an email today from Smugglers' Notch that Wyndham will be taking back some weeks from owners if owners no longer wish to keep their timeshares. They did an owner survey, and today's email stated:
"Based upon the survey results and a recent agreement with Wyndham, Smugglers' has decided we will offer a Farewell Smuggs program. We are grateful for Wyndham's help with this program. This program will in no way affect any other ownership or Smugglers' operations. Smugglers' will be paying all attorney and other fees, costs, and taxes associated with the transactions.
This offer will be an opportunity to relinquish your ownership deed and discontinue the maintenance fee obligation.
There will be specific limitations for this program and in order to meet them, we will make the offer in this order:
We expect to reach the 2017 limit with the above two categories.
We will also require the cancellation of any resale listings for those accepted into the Farewell Smuggs program. However, any owner preferring not to participate in the Farewell Smuggs program and would rather sell their Ownership through a broker or on their own may continue to do so"
I've been thinking about getting rid of my week at Smuggs, but just wondering if it would be worth putting up a for sale ad rather than just giving it back to Wyndham. Any idea what a week 27 2 bedroom might be worth? (This is not an offer for sale! I'm just deciding whether to try to sell the week, or to just give it back to Wyndham at no cost under their "Farewell Smuggs" program.
Thanks in advance for any feedback!
"Based upon the survey results and a recent agreement with Wyndham, Smugglers' has decided we will offer a Farewell Smuggs program. We are grateful for Wyndham's help with this program. This program will in no way affect any other ownership or Smugglers' operations. Smugglers' will be paying all attorney and other fees, costs, and taxes associated with the transactions.
This offer will be an opportunity to relinquish your ownership deed and discontinue the maintenance fee obligation.
There will be specific limitations for this program and in order to meet them, we will make the offer in this order:
- First, to those Owners that have no outstanding Smugglers' loan balances or overdue maintenance fees.
- Next, to Owners who have no outstanding loan balances and are unable to bring their maintenance fees current. These ownerships will be accepted with the smallest amounts owed considered first.
We expect to reach the 2017 limit with the above two categories.
We will also require the cancellation of any resale listings for those accepted into the Farewell Smuggs program. However, any owner preferring not to participate in the Farewell Smuggs program and would rather sell their Ownership through a broker or on their own may continue to do so"
I've been thinking about getting rid of my week at Smuggs, but just wondering if it would be worth putting up a for sale ad rather than just giving it back to Wyndham. Any idea what a week 27 2 bedroom might be worth? (This is not an offer for sale! I'm just deciding whether to try to sell the week, or to just give it back to Wyndham at no cost under their "Farewell Smuggs" program.
Thanks in advance for any feedback!