Is this a reasonable offer?

[Larry M]

I've been trying to sell a 2BR in Fairfield Bay (fixed week 12) for $1 for over a year with no nibbles. It's of no use to me since it's too far to drive to and not attractive enough to me to fly to. No nibbles.

This was a reasonable holding when Wyndham offered exchanges--I exchanged it every year--but they arbitrarily breached their agreement and stopped offering exchanges a couple of years ago. (I told the Promotions guy I would never do business with Wyndham again until this was resolved--not even the free trips. He urged me to call.)

Well, a couple of hours and five different phone numbers and about eight different agents and I finally reached someone who was willing to do something to resolve the problem. There was an offer of points (I don't know how many as I don't wish to continue to do business with Wyndham) and an offer to take back the unit. I asked for the latter in writing. Wyndham will take the unit back if I agree to pay $150 in "attorney fees."

Should I do it? Negotiate? Try for yet another year to give it away on TUG?

What would you do?

Larry

 

[bogey21]

YES!!

George

 

[ambrosij]

I would do it

I would do it, $150 isn't bad and from what I have seen you usually have to offer to pay the current years MF and closing costs in order to give it away, so you probably will do better giving it back for $150.

 

[scootr5]

You're not using it and still paying the maintenance fees . I'd pay Wyn the $150 and be done with it.

 

[lcml11]

I've been trying to sell a 2BR in Fairfield Bay (fixed week 12) for $1 for over a year with no nibbles. It's of no use to me since it's too far to drive to and not attractive enough to me to fly to. No nibbles.

This was a reasonable holding when Wyndham offered exchanges--I exchanged it every year--but they arbitrarily breached their agreement and stopped offering exchanges a couple of years ago. (I told the Promotions guy I would never do business with Wyndham again until this was resolved--not even the free trips. He urged me to call.)

Well, a couple of hours and five different phone numbers and about eight different agents and I finally reached someone who was willing to do something to resolve the problem. There was an offer of points (I don't know how many as I don't wish to continue to do business with Wyndham) and an offer to take back the unit. I asked for the latter in writing. Wyndham will take the unit back if I agree to pay $150 in "attorney fees."

Should I do it? Negotiate? Try for yet another year to give it away on TUG?

What would you do?

Larry

If they will take the unit back, take it and run do not walk if they will just take the unit back without a new purchase. Was the timeshare in question a re-sale when you bought it or a developer purchase?

 

[CO skier]

Wyndham will take the unit back if I agree to pay $150 in "attorney fees."

This is unprecendented in the Wyndham system, and way, way too good to be true.

If you do get it in writing, it would be well worth paying an attorney experienced in timeshares to review it -- there must be some kind of "catch."

(Chances are that for $150, they will take your deed, "upgrade your membership" with another (Club Wyndham Access) contract, and you will now have a loan that you did not have before).

If you somehow get out of your timeshare for $150 (plus the attorney fee), there are more than 1,000 people who would like to learn how to do the same.

 

[scootr5]

Was the timeshare in question a re-sale when you bought it or a developer purchase?

What does that have to do with getting Wyndham to take it back?

 

[ausman]

Wyndham will take the unit back if I agree to pay $150 in "attorney fees."

Should I do it? Negotiate? Try for yet another year to give it away on TUG?

What would you do?

Larry

I would find out what the hell has been offered by whom.!

You own a fixed week, Wyndham has nothing to do with taking it back, they are the management company there. The HOA or equivalent would be the entity that would take it back.

If "some entity" will take it back legitimately then $150 is a pittance and I would do it in a heart beat. Why pay another years MF's.

I suspect you have a Wyndam salesman and the take back is contingent upon a Wyndham points purchase as CO skier said.

 

[CO skier]

There was an offer of points (I don't know how many as I don't wish to continue to do business with Wyndham) and an offer to take back the unit. I asked for the latter in writing. Wyndham will take the unit back if I agree to pay $150 in "attorney fees."

I just re-read your original post, and there is the answer -- they are taking back the unit as part of another purchase. They won't split the offer and give you "the latter" (an offer to take back the unit) without you accepting the "offer of points" at an additional, outrageous cost. (Apparently, you finally reached the sales department).

Sorry for the bad news. If you pursue it, there will be a ton of confusing paperwork -- get some help with it, from an attorney. In the end, you will not like what it says.

 

[lcml11]

What does that have to do with getting Wyndham to take it back?

Nothing, I was just interested if they would take a re-sale contract back without a new purchase.

 

[CO skier]

Nothing, I was just interested if they would take a re-sale contract back without a new purchase.

Would Wyndham take back a developer purchased contract without a new purchase?

 

[55plus]

If something sounds to good to be true, well you know the rest. Get everything in writing, correspond in writing with certified mail and keep us informed. If your state law allows for one party informed phone call recording, record all conversations.

 

[lcml11]

Would Wyndham take back a developer purchased contract without a new purchase?

Have not heard of it in that form. However, the HOA's, I have heard from multiple locations may. Westwinds in Myrtle Beach was at one point in time. I do not know if they still are or not. A number of resorts have indicated to me that Wyndham will rent the HOA ones through Extra Holidays or that Wyndham will take them over from the HOA. However, it is my understanding that with CWA contracts, Wyndham does have a right of first refusal and that at least at Towers on the Grove, the deeded ones also have this provision.

 

[theo]

Yes --- maybe...

<snip>...and an offer to take back the unit. I asked for the latter in writing. Wyndham will take the unit back if I agree to pay $150 in "attorney fees."....<snip> What would you do?

IF the offer is legitimate (about which I frankly have some serious doubts) I would send that $150 off by overnight mail the very moment I saw the offer actually expressed in writing and under signature of someone in authority to make the offer. That being said, my suspicion is that some sales weasel is practicing some serious "wordsmithing", in order to hook you into something else.

After all, even if you found a taker by giving away the unwanted ownership for free, you would still have to pay Wyndham their larcenous $299 extortion "transfer fee" to internally recognize the new owner -- and that would be after the preparation and recording of a new deed (and paying any costs associated therewith). Why would Wyndahm make it easier and less expensive than that? The answer is that they likely wouldn't. You might be about to save some time and money and further indigestion if the offer is legitimate, but I suspect that the devil is in the details and those as yet unspecified details may be real show stoppers.

 

[Rent_Share]

Re-reading through the lines, the OP lost his points by defaulting on the maintenance and program fees and was left with the underlying deeded unit.

I believe he is being offered his original points back for a nominal fee and will be on the hook for a higher maintenance fee than he is currently paying.

This is a reaffirmation program not an exit strategy, if he moves forward he will own points with a higher maintenance fees

this was a reasonable holding when Wyndham offered exchanges--I exchanged it every year--but they arbitrarily breached their agreement and stopped offering exchanges a couple of years ago.(He had to default in order to "lose" his ability to exchange) (I told the Promotions guy I would never do business with Wyndham again until this was resolved--not even the free trips. He urged me to call.)

Well, a couple of hours and five different phone numbers and about eight different agents and I finally reached someone who was willing to do something to resolve the problem. There was an offer of points (I don't know how many as I don't wish to continue to do business with Wyndham) and an offer to take back the unit. (A swap of the deeded interval for his Wyndham Points being returned) I asked for the latter in writing. Wyndham will take the unit back if I agree to pay $150 in "attorney fees."

If anyone else can explain how a breach by "Wyndham" would interfere with any owner's ability to exchange then my argument goes down the toilet

 

[ausman]

Re-reading through the lines, the OP lost his points by defaulting on the maintenance and program fees and was left with the underlying deeded unit.

I didn't get that.

My interpretation would be the OP always owned a fixed week and exchanged it through Wyndham's FAX program. The FAX program allowed for Wyndham resorts non point owners to exchange their weeks with other similar owners.

Wyndham discontinued this program a few years ago now.

To exchange would then require, for example, an RCI membership fee and exchange fee. I forget the costs but expect it cost more to go that route than under the FAX program. Hence owner discontent.

 

[Rent_Share]

If anyone else can explain how a breach by "Wyndham" would interfere with any owner's ability to exchange then my argument goes down the toilet

FLUSH



I still believe they are converting to a points based ownership in exchange for hid deed

 

[bogey21]

There was an offer of points (I don't know how many as I don't wish to continue to do business with Wyndham) and an offer to take back the unit. I asked for the latter in writing. Wyndham will take the unit back if I agree to pay $150 in "attorney fees."

Sounds to me like OP was given a simple choice by Wyndham. You can have some points and a Wyndham Membership or for $150 we will take back your Week. OP doesn't want anything to do with Wyndham so IMO should pay the $150 and be done with them. I may be a simpleton but that is how I read it.

George

 

[travelplus]

This is a mistake people make when buying a timeshare with regards to purchasing one that takes a long time to get to.
u ar
What I have found out is that to buy one resale that you will use for exchange so it can be out of state and you can go overseas with that one. Then buy another timeshare within a 4 hour drive that you will use.

It helps to be able to use a timeshare because if you buy one you never use and are paying the maintenance fees whether you use it or not makes no sense. I'm glad your selling yours because you can find a resale closer to home or at least use your investment money to travel to other resorts when you can.

 

[JudyS]

...
My interpretation would be the OP always owned a fixed week and exchanged it through Wyndham's FAX program. The FAX program allowed for Wyndham resorts non point owners to exchange their weeks with other similar owners.

Wyndham discontinued this program a few years ago now....

This was my interpretation, too.

I would find out what the hell has been offered by whom.!

You own a fixed week, Wyndham has nothing to do with taking it back, they are the management company there. The HOA or equivalent would be the entity that would take it back.

If "some entity" will take it back legitimately then $150 is a pittance and I would do it in a heart beat. Why pay another years MF's.

I suspect you have a Wyndam salesman and the take back is contingent upon a Wyndham points purchase as CO skier said.

I agree. It is possible that the HOA, not Wyndham, is offering to do a deedback. However, it is more likely that Wyndham is trying to get you to buy points from them. You need to get something in writing to be sure what the offer is.

 

[Larry M]

I inherited it

If they will take the unit back, take it and run do not walk if they will just take the unit back without a new purchase. Was the timeshare in question a re-sale when you bought it or a developer purchase?

I inherited it. My late mother-in-law had much less sales resistance than my late wife or I did. She bought it from the developer, Fairfield.

No one in the family every actually went to the property. We always exchanged it.

 

[Larry M]

It's really true

This is unprecendented in the Wyndham system, and way, way too good to be true..

No, it really is true. I work with attorneys and clients daily and have a reputation for being quite persuasive.

If you do get it in writing, it would be well worth paying an attorney experienced in timeshares to review it -- there must be some kind of "catch."

The letter is really simple and straightforward. I'll key the whole thing in below. I review contracts every day and this is quite clear.

(Chances are that for $150, they will take your deed, "upgrade your membership" with another (Club Wyndham Access) contract, and you will now have a loan that you did not have before).

There is no such mention or discussion. If that were to show up on a document, I simply would not sign and would not send the check. No harm, no foul.

If you somehow get out of your timeshare for $150(plus the attorney fee), there are more than 1,000 people who would like to learn how to do the same.

No, no. The $150 is the attorney fee. There is no other charge. I would be happy to outline the argument I made.

• This unit was sold to my mother-in-law with the understanding that it could be exchanged for other resorts in the Fairfield (now Wyndham) chain.
• Fairfield and Wyndham acknowledged that understanding by exchanging the week many times for units in e.g., Williamsburg and Edisto Beach. In fact, no one ever stayed at the unit itself in Fairfield Bay, Arkansas.
• Fairfield even sent publications each year for several years promoting the resorts that were available for exchange. I still have six of these annual publications.
• Fairfield and Wyndham made participation in the exchange program (FAX, not RCI) successively more onerous over the years. The number of available exchange resorts was progressively reduced. The hard copy catalog publication ceased. Exchanges had to be made by blindly, listening to resort descriptions by the telephone agent. The exchange fee steadily increased from 0 to $10, 20, ..., $65, ultimately to $75 per year
• The last straw was to unilaterally cancel the program outright. Holders received a letter from the Wyndham president stating that the exchange program was cancelled; there would be no further exchanges. I pointed out that this was a breach of the agreement under which my mother-in-law had bought the property, an agreement which had been honored for many years.

These arguments proved to be sufficiently compelling to generate the offer I reproduce for you (typos and all, names and addresses redacted) here:

Lawrence Marks
4901 North Hills Drive
Raleigh, NC 27612

February 1, 2013

Dear Mr. Marks,

Per our conversation this afternoon, I am sending you the information For deeding back your timeshare:

The association will agree to accept the timeshare if the owner writes a letter to the Board of Directors and will agree to pay the $150.00 attorney fee (collected when the attorney sends the paperwork to them). The letter will need to state the following:

1. Mail letter to the Association, for example if you own in xxx, attn. yyyy, P.O. Box ZZZZ, xxxx, AR SSSSS
2. Letter address to Board of Directors
3. List why you no longer want to own the timeshare
4. List the owners of record, contract#
5. That you agree to pay the $150.00 attorney fee
6. Sign and date

We will send to attorney once letter is received. Attorney will mail paperwork to you within 2-4 weeks and will request $150.00 fee at that time.

Please let AAAA BBBB know if you have any questions.

Thank you for your inquiry,

CCCC DDDD, Guest Services Representative
(signed)

Larry M

 

[Larry M]

I would find out what the hell has been offered by whom.!

You own a fixed week, Wyndham has nothing to do with taking it back, they are the management company there. The HOA or equivalent would be the entity that would take it back.

Right. I just posted the entire offer from the association.

If "some entity" will take it back legitimately then $150 is a pittance and I would do it in a heart beat. Why pay another years MF's.

I'm going to do that. I was wondering if someone with more experience and better powers of persuasion had a good argument for waiving the attorney fees.

I suspect you have a Wyndam salesman and the take back is contingent upon a Wyndham points purchase as CO skier said.

No way!

Larry M

 

[Beefnot]

Looks like you were shooting straight in your first post. Congrats, you get it off your hands. This is a no-brainer, pay the $150. Don't try to negotiate your way out of getting this gracious offer rescinded by Wyndham.

 

[Larry M]

I don't need to do that

If something sounds to good to be true, well you know the rest. Get everything in writing, correspond in writing with certified mail and keep us informed. If your state law allows for one party informed phone call recording, record all conversations.

It's much easier than that. I send in the info with no money. The attorney doing the transfer sends me a bill for $150.00. I pay it.

If I am feeling paranoid, I will look him up in the state bar association before writing the check.

Larry M