Jimag
TUG Member
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