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Wyndham Acess First Right of Refusal
Has anyone had any experience with Wyndham actually purchasing back Wyndham ACCESS points? If so, for what $ per point?
Background story is that in our most recent Owner Survey turned Sales Pitch, we were introduced to Wyndham Access. As always, it involves more money to buy up to a new point level but includes conversion into ACCESS points. Supposedly Access points are more valuable points for several reasons, no maintenance fee increases, ability to split ownership among heirs without loss of benefits, and most importantly, Wyndham will buy them back. They word it as "first right of refusal" but supposedly, since the value is always going up, they can resell the points for more than I pay now. I asked why they don't just buy back the points I have now and was told that Real Estate law prohibits it. Supposedly, the way these new Access Points are structured in a Trust, it will be lawful for Wyndham to buy them back. Supposedly, Wyndham has taken steps to make points that have been purchased off the secondary market virtually worthless. They are trying to build a retained value in their timeshare system. They imply that Wyndham will buy you out for at a price that (while not making you a profit) will be a fair resale price, and then they will resell them at their current selling price. Of course, there is no gaurantee, but they present it as though it is to their advantage to buy back and resell the points because as time goes by, the price goes up. (I originally bought for $77/1000 points and now it is more like $200/1000 points when buying directly from Wyndam.)
I would love to buy up to Access Points and then turn around and have Wyndham buy me out, even if I had to wait a couple of years to enact the buy back clause. We have loved our timeshare experience over the last 20 years but are now older and kids are grown. I could use the money I have invested in our points for retirement. As you can tell by my use of the word "supposedly", I would love to believe their pitch, but it smells fishy to me. Does anyone have any knowledge about this buy-back program?
Background story is that in our most recent Owner Survey turned Sales Pitch, we were introduced to Wyndham Access. As always, it involves more money to buy up to a new point level but includes conversion into ACCESS points. Supposedly Access points are more valuable points for several reasons, no maintenance fee increases, ability to split ownership among heirs without loss of benefits, and most importantly, Wyndham will buy them back. They word it as "first right of refusal" but supposedly, since the value is always going up, they can resell the points for more than I pay now. I asked why they don't just buy back the points I have now and was told that Real Estate law prohibits it. Supposedly, the way these new Access Points are structured in a Trust, it will be lawful for Wyndham to buy them back. Supposedly, Wyndham has taken steps to make points that have been purchased off the secondary market virtually worthless. They are trying to build a retained value in their timeshare system. They imply that Wyndham will buy you out for at a price that (while not making you a profit) will be a fair resale price, and then they will resell them at their current selling price. Of course, there is no gaurantee, but they present it as though it is to their advantage to buy back and resell the points because as time goes by, the price goes up. (I originally bought for $77/1000 points and now it is more like $200/1000 points when buying directly from Wyndam.)
I would love to buy up to Access Points and then turn around and have Wyndham buy me out, even if I had to wait a couple of years to enact the buy back clause. We have loved our timeshare experience over the last 20 years but are now older and kids are grown. I could use the money I have invested in our points for retirement. As you can tell by my use of the word "supposedly", I would love to believe their pitch, but it smells fishy to me. Does anyone have any knowledge about this buy-back program?
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