buying resell, need help please

[js203]

I have a few questions and hope to find answers here before I send money to the broker/closing company. Thank you very much in advance.
1. How do I find out if an account is Premier or Standard ? The seller does not know.
2. At what point in the buying process will I be able verify account details with WM ? Call WM and was told they would only discuss the account with the owner.
3. The "estoppel" letter from WM , forwarded to me by the middleman, states that " The vacation ownership consists of 12,000 annual WorkMark credits. There currently are 24,000 credits available with the next award occurring the first day of the anniversary month, which is June. Additionally, there currently have 12,000 credits available for use in 2020 and 12,000 credits available for use in 2021." What does it mean ? How many points will be in my account upon transfer, assuming the transfer completes before June 1 ? And after June 1st when the next award occurs ? And I don't understand the last sentence at all , why call out 2020 and 2021 specifically?

 

[geerlijd]

Don't worry about standard/premier. All accounts are Premier and have the same usage for a resale owner. You get full access to WorldMark, but no Club Pass (Wyndham).

With a June anniversary and 24000 credits, you have 12000 expiring 6/30/19 and 12000 expiring 6/30/20. You need to book something before the 6/30/19 to use the first set of credits. If the seller is willing, ask them to place 12000 credits in a reservation 13 months out to hold onto these during the transfer. If they aren't willing, assume you will lose the credits expiring this June.

On 6/1/19 you will receive 12000 which will expire 6/30/21.

On 6/1/20 you will receive 12000 which will expire 6/30/22.

 

[geist1223]

Wyndham is taking a long time to complete transfers. Six months or longer is not unusual. So hopefully seller agreed to continue paying MF's until transfer is complete. If you still have questions you can ask that the seller to arrange a Conference call with Owner Care.

Remember you can have 2 names on the Ownership. Make sure you do that.

With a 12,000 Account you will get 1 free House Keeping Credit every year. These carry over just like the Points. You will get two free Guest Certificates. These do not carry over. Also any change (add a day, subtract a day, change name of Guest, etc) to a Reservation involving a Guest Certificate will cause the loss of the Guest Certificate and the use of a second Guest Certificate. If you need to pay for a Guest Certificate it is $99 Online and $129 over the telephone. Because people's plans do change how we are handling Reservations for our kids is to Book it in our names. Then about 35 days (free cancellation is 30 days - gets Points and House Keeping back) before check-in we verify Kids are going and change Reservation to their name.

As explained above Points are good for 24 months plus about 30 days ( some months have 30 days, some months have 31 days, and 1 month has 28 days). This means they have to be placed in a Reservation by that time. So Points issued on June 1, 2019 have to be placed in a Reservation by June 30, 2021 but that Reservation can be 13 months out or June 30, 2022.

To get the more popular sites you have to Book 13 months in advance. Online Booking opens at 6am West Coast time.

Join www.wmowners.com. There is no fee. It is a site by Owners for Owners. There are a lot of knowledgeable people on its Forum that are happy to help.

 

[taterhed]

Great advice....

Also, you can open an account with RCI or II and spacebank a deposit (or 2) into II/RCI to store the credits for 2 years. If the seller makes a reservation to 'park' the credits so they don't expire, you can call owner services and have them convert the reservation to spacebank so it doesn't expire in the process.....

cheers.

 

[js203]

Thank you all so much for the answers and suggestions ! Really appreciated it!