Questions about my timeshare [Wyndham]

I am new to TUG and wondered if anyone could help me about possibly deeding back our timeshare to Wyndham or selling it. We bought it from Fairfield about 25 years ago. As far as I know the only deed we have is from this resort in it's old Fairfield name. It is a fixed week and might expire in 2023. It is hard to understand the legalese.
I also wondered if I should not deposit it into RCI if I am considering selling it or otherwise disposing of it.
Any input would be appreciated.

What resort is it?

Fairfield Pagosa

Sorry, It is now Wyndham Pagosa.

start with the applicable articles to your questions answered here =)

http://advice.tug2.net


Welcome to TUG!

First, to offer my input to desert rose's question: Wyndham seems to have a recently revised policy of buying back (at least some) TS contracts. You can call the Title Dept for info at 1.800.251.8736, followed by option 2, followed by option 3.

I am currently in the process of evaluating the risk/reward of "deeding back" my TS to Wyndham. I contacted them via phone two weeks ago, and, without any negotiation at all, they agreed to "take back" our TS in Nashville (Music City - 105,000 pts). The "offered" price is $1.5K and no costs or fees.

I received the paperwork today. Upon trying to read the "legalize", I now have rather serious questions. In attempting to allay my concerns, I called the Legal/Title Dept but only received "blah, blah, blah platitudes" for answers, with no evidentially probative way to check the information. In light of the abysmal reputation of the industry, I wonder if anyone can offer any advice.

My concerns are:

1) the description of the "property" on the proffered deed is different than the language on my original deed,

2) The "owners" on the proffered deed is spelled differently than on the original deed, 3) the "owner's" address on the proffered deed is different than our legal domicile (the address on the new deed is the address of the resort in Nashville).

The condensed version of Wyndham answers was "not to worry, it all means the same as the language in your original". I am seriously considering generating my own version of a Quit Claim Deed and submitting that back to them. What's a poor guy to do (paraphasing Ado Annie in Oklahoma!)

Questions about my timeshare

desert rose said:

I am new to TUG and wondered if anyone could help me about possibly deeding back our timeshare to Wyndham or selling it. We bought it from Fairfield about 25 years ago. As far as I know the only deed we have is from this resort in it's old Fairfield name. It is a fixed week and might expire in 2023. It is hard to understand the legalese.
I also wondered if I should not deposit it into RCI if I am considering selling it or otherwise disposing of it.
Any input would be appreciated.

Click to expand...

Medulla said:

First, to offer my input to desert rose's question: Wyndham seems to have a recently revised policy of buying back (at least some) TS contracts. You can call the Title Dept for info at 1.800.251.8736, followed by option 2, followed by option 3. I am currently in the process of evaluating the risk/reward of "deeding back" my TS to Wyndham. I contacted them via phone two weeks ago, and, without any negotiation at all, they agreed to "take back" our TS in Nashville (Music City - 105,000 pts). The "offered" price is $1.5K and no costs or fees. I received the paperwork today. Upon trying to read the "legalize", I now have rather serious questions. In attempting to allay my concerns, I called the Legal/Title Dept but only received "blah, blah, blah platitudes" for answers, with no evidentially probative way to check the information. In light of the abysmal reputation of the industry, I wonder if anyone can offer any advice. My concerns are:
1) the description of the "property" on the proffered deed is different than the language on my original deed, 2) The "owners" on the proffered deed is spelled differently than on the original deed, 3) the "owner's" address on the proffered deed is different than our legal domicile (the address on the new deed is the address of the resort in Nashville). The condensed version of Wyndham answers was "not to worry, it all means the same as the language in your original". I am seriously considering generating my own version of a Quit Claim Deed and submitting that back to them. What's a poor guy to do (paraphasing Ado Annie in Oklahoma!)

Click to expand...

Pagosa Springs and Nashville actually have SOME value and do not fall into the typical $1 (or cash-to-taker incentive) type situations. Depending on the Pagosa fixed week/unit, the MF cost may be desirably low. Nashville also has below average MF for a Wyndham points (Club Wyndham Plus) resort.

I would explore trying to find a buyer in the TUG marketplace or Redweek.com for a month or two. No need to post in the TUG Bargain Basement unless you are really desperate to sell ASAP.

Thank you both for your input. I will look into seeing if Wyndham will take it back or try to sell it. It is a little scary to sell this not knowing how we will vacation in the future. But it is getting too expensive. We just paid $209 for an RCI exchange plus $109 for just one more point (trading value for our fixed week) to get the place we wanted to go to.
Surely there are cheaper ways to vacation!

Medulla,
If YOU are paying Wyndham $1.5k to take back your points, I will take it for $1,250. Seriously do NOT pay them anything. You can do better and there are people here (TUG) who will help, if not just take it off your hands. Please DO NOT believe Wyndham that the wording is fine. Sounds fishy to me
Murf

jmurp62 said:

Medulla,
If YOU are paying Wyndham $1.5k to take back your points, I will take it for $1,250. Seriously do NOT pay them anything. You can do better and there are people here (TUG) who will help, if not just take it off your hands. Please DO NOT believe Wyndham that the wording is fine. Sounds fishy to me
Murf

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Medulla is saying that Wyndham will pay the seller $1500 for a 105000 points contract. If thats true I want to know more. It's significantly better than eBay prices. And I have a ton I would sell at that price

Desert Rose -

I had a pagosa - I seriously doubt they are PAYING you to take back your week.

I did successfully get Wyndham to take back my fixed weeks. Send me a tug email and I will tell exactly how I made it happen.

sandkastle

ronparise said:

Medulla is saying that Wyndham will pay the seller $1500 for a 105000 points contract. If thats true I want to know more. It's significantly better than eBay prices. And I have a ton I would sell at that price

Click to expand...

I have been mentally debating this deedback offer for a week now. I know it is very dangerous to rationalize with oneself, but I think I have convinced myself to go for this deal. I would still very much prefer to do a Quit Claim or Special Warranty Deed, but after closely reading the fine print in the sales contract, I think there is a crack to wiggle thru (or at least make a strong argument) if there is any fatal flaws concelaed in the transaction. (And then, there is the very real possibility that I will be at peace and six feet under by the time any squabble would ever reach court.)

BTW, ronparise is correct - WYNDHAM is offering pay me the $1.5K - so we will see. And I will try to keep this post current as to developments.

Sandkastle4966,

I am very interested in how you got Wyndham to take back your weeks. Did you get my email? I am not sure it got through.

Desert Rose

Are you sure it is Wyndham? Are you sure they don't want some fee up front first, then they pay you.

Seriously nobody here on TUG has ever heard of Wyndham paying anything to take back a week.

That has red flags all over it to me, and likely others here.

Agreed - can't believe they will buy back at 1,500.

Several e-bay listings for a few bucks! Why would anyone pay $1,500?

I have a weeks contract at Wyndham Flagstaff that was converted to points when I bought it in 2009 from the Wyndham slimebag (BT - before TUG). Every year when I get the notice of the owners meeting, there is an offer from the homeowners' association to take back the contract as long as all fees are paid and there is no outstanding mortgage. As I understand it, I would not be paid anything, but would simply get out from under any further obligation to pay maintenance fees. Since Flagstaff is one of the older Wyndham resorts, maybe this is an indication that some of the other older Wyndham resorts are now resorting to this policy to avoid the costs of foreclosure on deliquent contracts. Could Wyndham be using this as a source for the Access inventory?

jimfisk said:

I have a weeks contract at Wyndham Flagstaff that was converted to points when I bought it in 2009 from the Wyndham slimebag (BT - before TUG). ...... Could Wyndham be using this as a source for the Access inventory?

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That is MY bet! Wyndham does not care MUCH of anything about HOA bad debt ... they just get more money from the paying owners by up'ing the MFs.

Selling another resort on the CWA list is a chip in the pot. Is your F/W a PRIME TIME WEEK or PRIME floating unit?

Is your F/W a PRIME TIME WEEK or PRIME floating unit?

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to put this question in a different way: what are your annual MFs on this contract, and how many points do you get for that money?

If your $/points ratio is low, you can probably sell it for a few dollars on the open market. If your $/points ratio is high, you'll be better served by just giving it back to the Flagstaff HOA.

desert rose said:

I am new to TUG and wondered if anyone could help me about possibly deeding back our timeshare to Wyndham or selling it. We bought it from Fairfield about 25 years ago. As far as I know the only deed we have is from this resort in it's old Fairfield name. It is a fixed week and might expire in 2023. It is hard to understand the legalese.
I also wondered if I should not deposit it into RCI if I am considering selling it or otherwise disposing of it.
Any input would be appreciated.

Click to expand...

Well worth the money to get a copy of the orginal deed and the Wyndham dead and take it to a attorney (get one in the state the resort is in) to review to see if it is right.



Best of luck.