"Free": 308k Wyndham Points - Wyndham Smoky Mountains

ScubaKat · Mar 16, 2015

Inspired by Ron's post.. I have a stripped contract I have available if anyone wants it.

- The resort has one of the lowest MF/point in the Wyndham system at $4.5/point.
- If you need to use points sooner than October, 2017, you will be able to credit pool and use points by October, 2015.
- MF will be the owners responsibility after contract transfer.

Resort: Wyndham Smoky Mountains
Location: Sevierville, TN
Points: 308k UDI
Usage: Annual, begins October 1, 2017
Most Recent Maintenance Fee:
MF Fee: $1,401.40
Program Fee: $169.40
Total paid per month: $130.90

Transfer fee: $299 paid by buyer
Closing: LTT paid by buyer

hk4481 · Mar 16, 2015

Sent pm - may have interest.

torontobuyer · Mar 16, 2015

ScubaKat said:
Inspired by Ron's post.. I have a stripped contract

I hope this isn't a trend.

These stripped points contracts must be the highest level of TS manipulation, if you're willing to put in the time to figure out all the strategies, including getting rid of them here.

ronparise · Mar 16, 2015

torontobuyer said:
I hope this isn't a trend.

These stripped points contracts must be the highest level of TS manipulation, if you're willing to put in the time to figure out all the strategies, including getting rid of them here.

Worldmark credits are good for 2 years and you can borrow against your next years allocation. Buyers like to see "fully loaded" contracts meaning last years credits, this years credits are available to use as well as next years to borrow. But it's not unusual to see contracts offered with some or all of those credits un available. And the offer price adjusted accordingly

We are used to seeing this with Worldmark but not Wyndham but it dosent mean there is a thing wrong as long as the buyer knows what he is getting and as long as the price is adjusted fairly and buyer and seller are both happy there should be no complaints. Especially no complaints from the peanut gallery

ronparise · Mar 16, 2015

torontobuyer said:
I hope this isn't a trend.

These stripped points contracts must be the highest level of TS manipulation, if you're willing to put in the time to figure out all the strategies, including getting rid of them here.

I've never been a trend setter

For me it's not a trend it's just a strategy that works in a rising market

CO skier · Mar 16, 2015

ronparise said:
Worldmark credits are good for 2 years and you can borrow against your next years allocation. Buyers like to see "fully loaded" contracts meaning last years credits, this years credits are available to use as well as next years to borrow. But it's not unusual to see contracts offered with some or all of those credits un available. And the offer price adjusted accordingly

We are used to seeing this with Worldmark but not Wyndham but it dosent mean there is a thing wrong as long as the buyer knows what he is getting and as long as the price is adjusted fairly and buyer and seller are both happy there should be no complaints. Especially no complaints from the peanut gallery

Is "peanut gallery" just a synonym for "online forum"?

The difference between WorldMark and Wyndham Club Plus is that WorldMark typically sells for more than $2000 for fully loaded accounts, so there is room to deduct the value of the missing credits in stripped accounts.

With Wyndham contracts that typically sell for about $1 on EBay, as examples (with 2015 and future years' usage available),

http://www.ebay.com/itm/Wyndham-Pag...248?pt=LH_DefaultDomain_0&hash=item3f4860e4e0
$5.00 includes all closing costs and transfer fees -- Wyndham Pagosa -CO- 77,000 Pts - Annual Usage - Available for 2015!

http://www.ebay.com/itm/WYNDHAM-SAP...682?pt=LH_DefaultDomain_0&hash=item3cf4a057ba
Sold $250 -- Free Closing and 2015 Usage WYNDHAM SAPPHIRE VALLEY 126,000 POINTS TIMESHARE FOR SALE

http://www.ebay.com/itm/WYNDHAM-SMO...850?pt=LH_DefaultDomain_0&hash=item4d2ea60092
Sold $400 with Free Closing and 2015 usage-- 105,000 WYNDHAM SMOKY MOUNTAINS POINTS GOLF DOLLYWOOD PIGEON FORGE TENNESSEE TIMESHARE

http://www.ebay.com/itm/168-000-WYN...105?pt=LH_DefaultDomain_0&hash=item19fc0519c1
Sold $255 plus $298 closing that includes $299 transfer fee -- 168,000 WYNDHAM POINTS AT KINGSGATE RESORT WILLIAMSBURG, VIRGINIA , 2015 Usage Available on Transfer

it is difficult to deduct $1500-$1800 of missing credits for stripped accounts. (There are the exceptions for home resorts that do sell for more than $1, but those seem to have already sold).

ronparise · Mar 16, 2015

CO skier said:
Is "peanut gallery" just a synonym for "online forum"?

The difference between WorldMark and Wyndham Club Plus is that WorldMark typically sells more than $2000 for fully loaded accounts, so there is room to deduct the value of the missing credits in stripped accounts.

With Wyndham contracts that typically sell for about $1 on EBay (with 2015 and future years' usage available), it is difficult to deduct $1500-$1800 of missing credits for stripped accounts. (There are the exceptions for home resorts that do sell for more than $1, but those seem to have already sold).

Dollar Wyndham contracts are a thing of past

uscav8r · Mar 16, 2015

CO skier said:
Is "peanut gallery" just a synonym for "online forum"?

The difference between WorldMark and Wyndham Club Plus is that WorldMark typically sells more than $2000 for fully loaded accounts, so there is room to deduct the value of the missing credits in stripped accounts.

With Wyndham contracts that typically sell for about $1 on EBay, it is difficult to deduct $1500-$1800 of missing credits for stripped accounts. (There are the exceptions for home resorts that do sell for more than $1, but those seem to have already sold).

Smoky Mountains will actually fetch much more than $1. I've not checked up on resale prices lately, but as of 6 months ago, $2000-2500 for 308k at Smoky Mtns would not be unheard of. It's probably a fair wash to give it away for free due to the 2.5 years of used points, but to have the buyer pay transfer and closing... probably a bit much IMO, unless prices really have trended up a lot recently.

am1 · Mar 16, 2015

I think Wyndham should be collecting the fees for the future years points if contracts are being transferred with points missing. It is a liability for the hoas otherwise.

CO skier · Mar 16, 2015

ronparise said:
Dollar Wyndham contracts are a thing of past

OK, it is difficult to deduct $1500-$1800 worth of missing credits from stripped accounts that typically sell for $5.00 - $400 on EBay.

uscav8r · Mar 16, 2015

am1 said:
I think Wyndham should be collecting the fees for the future years points if contracts are being transferred with points missing. It is a liability for the hoas otherwise.

Someone is ALWAYS on the hook for the MF and program fee. In this case, the buyer would be billed by Wyndham on a prorated monthly basis from the time of transfer, assuming all past fees are up to date. Transfers are usually held up if there is an outstanding balance on the account, meaning either seller or buyer (or broker) needs to foot the bill for the transfer to complete.

CO skier · Mar 16, 2015

am1 said:
I think Wyndham should be collecting the fees for the future years points if contracts are being transferred with points missing. It is a liability for the hoas otherwise.

Wyndham should immediately collect maintenance fees anytime credits from future years are used, including the Credit Pool.

There are a lot of things that Wyndham should be doing that they don't.

CO skier · Mar 16, 2015

ronparise said:
Dollar Wyndham contracts are a thing of past

Here is a $1 Royal Vista 126K Ebay auction, but it is a sketchy seller:

http://www.ebay.com/itm/WYNDHAM-ROY...21660954822?pt=Timeshares&hash=item339c05c0c6

piyooshj · Mar 17, 2015

CO skier said:
Here is a $1 Royal Vista 126K Ebay auction, but it is a sketchy seller:

http://www.ebay.com/itm/WYNDHAM-ROY...21660954822?pt=Timeshares&hash=item339c05c0c6

Winning bidder pays $1 + $450 closing costs + $299 transfer fees. It includes 2014 126,000 points so it is a fully loaded account vs. stripped.

am1 · Mar 17, 2015

A stripped contract is more liking to be transferred to be abandoned then one that is fully loaded. Not this case. In this case a stripped contract is more liking to be abandoned after the buyer/sucker realize what they actually have is a liability.

uscav8r said:
Someone is ALWAYS on the hook for the MF and program fee. In this case, the buyer would be billed by Wyndham on a prorated monthly basis from the time of transfer, assuming all past fees are up to date. Transfers are usually held up if there is an outstanding balance on the account, meaning either seller or buyer (or broker) needs to foot the bill for the transfer to complete.

ace2000 · Mar 17, 2015

Here's a query of Wyndham contracts sold on eBay recently for less than $100. Many didn't sell at all, even for a dollar.

http://www.ebay.com/sch/i.html?_fro...dcat=15897&rt=nc&_mPrRngCbx=1&_udlo&_udhi=100

piyooshj · Mar 17, 2015

ace2000 said:
Here's a query of Wyndham contracts sold on eBay recently for less than $100. Many didn't sell at all, even for a dollar.

http://www.ebay.com/sch/i.html?_fro...dcat=15897&rt=nc&_mPrRngCbx=1&_udlo&_udhi=100

Wow, I think moderator should move this out of bargain deal to some other forum "ripoff deals"

uscav8r · Mar 18, 2015

ace2000 said:
Here's a query of Wyndham contracts sold on eBay recently for less than $100. Many didn't sell at all, even for a dollar.

http://www.ebay.com/sch/i.html?_from=R40&ghostText&_sacat=0&LH_Complete=1&_nkw=wyndham%20points&_dcat=15897&rt=nc&_mPrRngCbx=1&_udlo&_udhi=100

I see that you capped the sales price at $100, but that shows a skewed picture. In general, those are high MF resorts that have no driving factor to purchase (unlike say a Myrtle Beach resort with high MF but one needs ARP to book at 13 months).

Here is a more representative list of resorts that have lower MF or are desirable for other reasons. Prices range from $8-12/1000 annual points, which gets one $1200-2000 for some smaller contracts after closing costs and fees.

http://www.ebay.com/sch/i.html?_odk...ndham+points+(-worldmark)&ghostText=&_sacat=0

And since we are talking specifically about 308k Smoky Mountains (and not a list from another thread), that resort should fetch at least $2000-2500 out the door for a "fully-loaded" contract (I still can't believe we're using that term with Wyndham.. usually it's Worldmark where one sees "fully loaded" or "stripped").

uscav8r · Mar 18, 2015

piyooshj said:
Wow, I think moderator should move this out of bargain deal to some other forum "ripoff deals"

You may want to do some research on the variance in Wyndham resale prices before you levy judgment. I'm guessing the HGVC system has its dogs that don't fetch the same resale value as other resorts. In HGVC, both gems and dogs can even be found within the same resort simply due to the season owned.

LLW · Mar 18, 2015

uscav8r said:
(I still can't believe we're using that term with Wyndham.. usually it's Worldmark where one sees "fully loaded" or "stripped").

The difference between this and WM is that the points stripped off WM accounts have had their MF paid - you don't see accounts with negative future points on the market; all that are stripped are current or last year's points. WM's "fully loaded" points are points awarded in the past, on which MF have been paid. WM doesn't allow points to be rented if you are in the "to borrow" bucket (because their MF have not been paid, I think), and I don't think they allow them to be sold without a payment of MF, because you don't see accounts for sale that have had their future points stripped out. If that is allowed, people would be doing it.

If Smoky Mountain has value, then it should be sold for the value. If there is a list of weeks for sale, maybe the worthy contracts should be sold for what they are worth, and the unworthy ones with sweeteners. Overall it might be a wash or minimal monetary impact, with less hassle and more fairness, instead of some contracts being grabbed quickly and some probably won't sell. But hind-sight is always 20/20.

ace2000 · Mar 18, 2015

uscav8r said:
I see that you capped the sales price at $100, but that shows a skewed picture.

Yes, I very clearly stated in my post that the query capped the sale price at $100. I was responding to the earlier point in this thread about "Wyndham dollar contracts are a thing of the past", which doesn't appear to be exactly true.

ScubaKat · May 27, 2015

The points have been taken and the transfer is complete. Thank you for all the messages! Admin, please close this thread and update as no longer available.

tahoeJoe · Jul 5, 2015

piyooshj said:
Wow, I think moderator should move this out of bargain deal to some other forum "ripoff deals"

That's funny. :hysterical:

"Free": 308k Wyndham Points - Wyndham Smoky Mountains

ScubaKat

hk4481

torontobuyer

ronparise

ronparise

CO skier

ronparise

uscav8r

TUG Review Crew: Expert

am1

CO skier

uscav8r

TUG Review Crew: Expert

CO skier

CO skier

piyooshj

am1

ace2000

piyooshj

uscav8r

TUG Review Crew: Expert

uscav8r

TUG Review Crew: Expert

LLW

ace2000

ScubaKat

tahoeJoe