Past due....already????

[Jimag]

Update: Wyndham informed me that the past due amount owed by the seller becomes the buyers responsibility once the contract is transferred. I know LT Transfers has a great reputation on this forum which is why we chose to use them. What exactly is their responsibility during the transfer process? Wyndham is telling me that they should have ensured that the transfer was completed as stipulated in the contract.

The collection amount is not large enough to warrant legal action. I don't have the time or patience to pursue this much further. I'm just annoyed that I purchased a contract that was in collections and feel that Wyndham or LT should have brought this to our attention much earlier. Though it may have been her oversight, I don't feel that the seller was trying to stick it to me in anyway.

Johnluyando, Thanks for providing information on your experience. You confirmed for me that, as a buyer, I need to make certain a purchase contract clearly specifies who is responsible for MFs and any other encumbrances through the day of transfer of title and what is meant by day of transfer -- either the day the title company completes the transfer with the local governmental entity (LGE) or the day Wyndham administratively notes the title transfer and credits the buyer's account with ownership. There's one matter that remains murky for me. It's the distinction between a deeded Club Wyndham Select ownership in a specific resort and Club Wyndham Access ownership where ownership is not deeded and an owner gets a certificate from Wyndham for the amount of points purchased. It may be that transfer of CWA ownership is not recorded by an LGE and is only an internal Wyndham bookkeeping matter that is not effective until Wyndham credits the buyer's account.

Did you purchase a deeded or CWA contract?

Jimag

 

[Jimag]

You are comparing apples to oranges in my opinion. In a regular real estate transaction you have property rights and usually the keys to the property at closing. The house is now yours and you have possession of the house.
When buying a Wyndham points contract you have no rights to the points until Wyndham says you do. The deed means nothing it's worthless until Wyndham grants you rights to use the points. Before Wyndham completes the transfer try going to your home resort with your deed and get a unit.

To your last question. It's the sellers liability to live up to the contract. Wyndham will not give the sellers financial standing to the buyer.
I know first hand that Wyndham will not release the sellers financial standing to some transfer companies either.

I agree. Both the buyer and the seller must comply with the terms of the contract. That's why it's critical that the contract clearly state what each party is agreeing to do, including, I would say, specifying exactly when the buyer's responsibility for MFs begins. That way Johnluyando would not have been surprised.

 

[dgalati]

I had a title transfer on the 26TH of the month. Seller dues payment was due the 25TH he did not pay it. I as the seller was in arrears according to Wyndham. My dues payments come due the 8th of the month. So I paid the past due amount for the 25th and they rebilled me on the 8th. Argued with Wyndham that this should have been prorated but Wyndham always wins and they will not prorate.

 

[johnluyando]

Update: The seller was an elderly woman that was being assisted by a well respected fellow Tugger. It came down to myself and the kind Tugger who had assisted both her elderly neighbor and myself throughout the process being left to pay the fees. I my opinion, it was not her responsibility as she was just doing a good deed, so I paid Wyndham the past due amount. It was my impression that LT's responsibility was similar to that of an attorney during a real estate transaction and by utilizing their services, I would avoid this confusion. I am not sure Wyndham actually gives these transfer services enough authority or knowledge to ensure that this is the case. I would utilize LT again in the future but would certainly pay closer attention to the transaction. I have paid a lot more for less valuable lessons!