Am I getting screwed? [Worldmark Resale]

I am a little irked off with 1 of my WorldMark purchases.

I bought a 6K account from one the top listed resell companies on tug and wmowners for Worldmark. I get it on eBay and like may eBay listings the bid price is only part of what you pay.

I also had to pay last years MF, Transfer Fee, and the next 3 months MF. But I figured this into what I was willing to pay and was fine with it.

But it is now 2 weeks since I paid for all this and they still did not have the account verification. So they can order the documents. So yesterday I write to see again what is going on. I get an email today. Stating we got the verification back today. Only the Anniversary day is August 1st. Not June 1st as was in the listing.

Considering they had me already pay them for July - Sept maintenance fees plus 1 year supposedly for the previous seller. I kind of feel like I am getting shafted. So I tell them I don't accept the material change unless they are going to reimburse me for some of the dang fees they are charging since I am no longer going to be buying a fully loaded account since half of the points will now expire before the account is moved to me.

I get an email back stating this is in my favor now my credits will expire in 2016 and 2017 and the ones expiring the end of August 2015, they have had the seller make a reservation with them so I won't loose them either and I have until March 18th 2016 to modify the reservation without penalty.

So is this a fair deal or am I getting screwed.

breezez said:

I am a little irked off with 1 of my WorldMark purchases.

I bought a 6K account from one the top listed resell companies on tug and wmowners for Worldmark. I get it on eBay and like may eBay listings the bid price is only part of what you pay.

I also had to pay last years MF, Transfer Fee, and the next 3 months MF. But I figured this into what I was willing to pay and was fine with it.

But it is now 2 weeks since I paid for all this and they still did not have the account verification. So they can order the documents. So yesterday I write to see again what is going on. I get an email today. Stating we got the verification back today. Only the Anniversary day is August 1st. Not June 1st as was in the listing.

Considering they had me already pay them for July - Sept maintenance fees plus 1 year supposedly for the previous seller. I kind of feel like I am getting shafted. So I tell them I don't accept the material change unless they are going to reimburse me for some of the dang fees they are charging since I am no longer going to be buying a fully loaded account since half of the points will now expire before the account is moved to me.

I get an email back stating this is in my favor now my credits will expire in 2016 and 2017 and the ones expiring the end of August 2015, they have had the seller make a reservation with them so I won't loose them either and I have until March 18th 2016 to modify the reservation without penalty.

So is this a fair deal or am I getting screwed.

Click to expand...

I want to ask you if the seller has used the reservation they made this year? Or are you saying you have til next March to modify their reservation? Most important question is the deed now in your name?

They are saying they just had the seller create a reservation for Las Vegas and use 6700 credits. 6K that are expiring Aug 31, 2015, and 700 credits from The 2016 expiration pool of points. The reservation number they have provided and state its for April 17-22 in Vegas. They say I have until March 18th to modify or change the reservation.

I kind of think something is wrong with the account I won they so when I complained they are now trying to give me this other account.

But I can't go to Vegas in April so I am not sure what I can do with those points or should I walk away from the deal and get a refund.

I would walk away, but get your money back! Sounds like a bait and switch!

No the deed is not in my name yet. I sent in my stuff and they were going to verify the Worldmark Account then order documents. I also won a 12K account from them and that one processes fine.

My concern came when I win two accounts documents and one is verified in couple days and 2 weeks later the other one had not. So when I started to complain that is when it miraculously was verified but with new expiration date. The reservation for the about to expire points did not show till i emailed them say I didn't accept the account with different anniversary date. Then came the email this is in my favor they put the expiring points into a reservation so I won't loose them.

You have to take into account how much you actually paid for the contract. If you have to pay for last year's maintenance fees, a fair price would be closer to $.30 to a point. You are actually getting a freebie for the 6000 points that are parked with the Las Vegas reservation. When the account is transferred to you, you call Worldmark to rebook a date and resort (with availability) that you can go to before August 2016.

im in at 26.6 cents a credit before MF's

breezez said:

im in at 26.6 cents a credit before MF's

Click to expand...

I believe it is still a good deal.

breezez said:

I am a little irked off with 1 of my WorldMark purchases.

I bought a 6K account from one the top listed resell companies on tug and wmowners for Worldmark. I get it on eBay and like may eBay listings the bid price is only part of what you pay.

I also had to pay last years MF, Transfer Fee, and the next 3 months MF. But I figured this into what I was willing to pay and was fine with it.

But it is now 2 weeks since I paid for all this and they still did not have the account verification. So they can order the documents. So yesterday I write to see again what is going on. I get an email today. Stating we got the verification back today. Only the Anniversary day is August 1st. Not June 1st as was in the listing.

Considering they had me already pay them for July - Sept maintenance fees plus 1 year supposedly for the previous seller. I kind of feel like I am getting shafted. So I tell them I don't accept the material change unless they are going to reimburse me for some of the dang fees they are charging since I am no longer going to be buying a fully loaded account since half of the points will now expire before the account is moved to me.

I get an email back stating this is in my favor now my credits will expire in 2016 and 2017 and the ones expiring the end of August 2015, they have had the seller make a reservation with them so I won't loose them either and I have until March 18th 2016 to modify the reservation without penalty.

So is this a fair deal or am I getting screwed.

Click to expand...

This is more than fair. The reseller is correct; you are getting 6,000 more credits with this deal. The Las Vegas reservation is just a "placeholder reservation" to preserve the credits until they transfer to you, and you can cancel the Las Vegas reservation and reserve what you may want, instead.

By the time the account transfers to you, the credits for the Las Vegas reservation will have expired. As long as you know you can use these credits for another reservation before April, 2016 you are all set. (I do not think the expired credits can be used beyond the reservation date, although your anniversary date is August, 2016).

You just have to make sure that you have a pre-April, 2016 reservation in place for the 6,000 credits to shuffle into, or you need to be ready with a new pre-April reservation to make on the same day as you cancel the April, 2016 Las Vegas reservation.

Short answer, as long as you can use the 6,000 credits somewhere in WorldMark before April, 2016, you are coming out ahead with this new deal. Even if, somehow you can't use the credits, you would only be losing 2 months of MF compared to the same deal as before, (August anniversary instead of a June anniversary), because they are not asking for any more prepaid MF versus the first deal.

ETA: Are you intentionally setting up to have more than one account? Then no problem. If instead, you want only one account, this gives you an opportunity to back out of this deal until your first account is all set. Then you can bid on another account, provide your new account number to the reseller, have the purchased account transferred into your new, existing account and save $299 versus buying two separate accounts and combining them after the sale and transfer is completed.

sptung said:

You are actually getting a freebie for the 6000 points that are parked with the Las Vegas reservation. When the account is transferred to you, you call Worldmark to rebook a date and resort (with availability) that you can go to before August 2016.

Click to expand...

Exactly,

They don't mean for you to go to las vegas. They made the resv to park the points for you. You can redirect it to where and when you actually want to go, so long as you can find the reservation.

WM credits are good for 2 years so an August account will get new credits on Aug 1 and they expire Aug 31 2 years later. Any credits left in the account past the expiration are lost. The exception is for credits in a reservation. You can book a reservation for up to 13 months from the expiration date. As a result, the WM resale companies that know what they are doing will book any expiring credits into a reservation to protect them. Wyndham takes forever to do the transfers so this is a good policy.

Once the account is transferred to you, call and have them remake the reservation to one you want. Credits that expire in Aug of 2015 have until Sept of 2016 to use those credits. Call, don't do it online. In theory, online will work, but not always so to avoid losing the credits, always call when expired credits are involved.

Sue

Thanks for the advice

I emailed back to proceed.

If everything turns out as you write it, you should be pleased with the results.

Contrats. Let us know how it eventually turns out, and if it does, maybe put out a good word for the reseller.

It's a good deal.

I also think it is a good deal, congratulations (but very odd).

I believe that if you cancel the April reservation completely, the credits will evaporate at the end of that night, so I believe you have enough time to space bank them into II. Personally, I think that would be a great use of those points, and hope you can really benefit from them.

Best,

Greg

I bought my Worldmark off one of the large reseller websites a couple of years ago in June. I put my offer on against a contract with a July/August anniversary date and partially loaded. The offer was accepted and then was later told that it was a January anniversary date and was fully loaded. I was happy about it. After the contract was transferred I found out that the prior owner had also parked would have expired points with a reservation in Palm Springs area. I checked with the reseller who confirmed that the parked points were for me to use. Turned out to be a great deal.

I 2nd the spacebank ressie with II. It's a bit of a crap shoot, but you can get some good deals. Plus if you're flexible, at <59 you can pickup the moon with that very lite deposit..

Shucks; hate to admit it, but I was going to ask what seller and snag that if you didn't.



The only thing better than a fully loaded account just past anniversary is a fully loaded account with placeholder reservation just prior to anniversary. You'll figure that out soon enough. BTW: II is better for high-end snags with spacebank; RCI has more inventory (potentially) but has <45 day flex (vs II <59 day) and lesser quality properties (with availability).

There's an interesting thread going on right now (on TUG) about RCI playing 'hide the 4000 credit sweet exchange' between 45 and 30 days--or even later.

congrats

am I getting screwed?

I am a WM Owner and I think you are getting a deal. If you are new to WM spend some time on www.wmowners.com and its Forum. Folks there are happy to help. Once the account is in your name figure out where you want to go and call the Vacation Planing Center and change the Reservation. The main thing aboug WM is plan your trips as early as possible - preferably 13 months out. Though the WM Wait List works ok. One of the biggest complaint people have is not getting the Reservation they want - but this mainly comes from people that wait to make a Reservation and then they want Hawaii with only a few months planning. If you take the time to learn the system it will work for you.

Thanks for all the feedback and suggestions

Everyone,

Thank you for all the great feedback and suggestions. I feel better now.

TUG: making new owners feel good...one at a time.