New FairField (Wyndham) Owner

[Jya-Ning Silver Contributor Find all posts View Profile Close Jya-Ning]

J&D

You do have Plus Partnership, so you could also do exchange with RCI on their point resort (except the FF ones) as well as exchange with RCI on their week inventory, and use FF internal exchange which may give you a better control but cost more points.

Since you do have 2 years of VIP, try to lay down your TS explore plan for next 2 year first.

Enjoy it.

Jya-Ning

[acesneights Member Find all posts View Profile Close acesneights]

Owning Hawaii makes no difference except getting into Waikiki at 13-10 months which I don't think you do for a whole week with 154K. KHR requires 231K for a week. This is the ARP period which is available to all owners at a given resort, retail or resale.

With Plus Partners you can't get back into a FF resort, you can get a non-FF resort for 154K for a 2BR Red week anywhere there is availability at 10 months or less for $150 or so fee. So again, Hawaii makes no difference.

As far as RCI deposits, points are points, no matter where you own or what you paid you gave exactly the same RCI deposits, mostly generic non-searchable deposits. Still again, Hawaii makes no difference.

Enjoy the low MF while Waikiki it is in sales, Honolulu is extremely expensive and you can expect to see those soar, just like AC when it was (mostly) sold.

Stan

[mosshy2k Junior Member Find all posts View Profile Close mosshy2k]

Can I get out?

Hello all,

I also recently brought at Oahu Wyndham/FF while vacationing in Hawaii (sam deal as the poster above). I have also seen many resale offers since returning home for various Wyndham/FF timeshares in various locations much cheaper.

My issue a little complicated and I would appreciate any help.

I brought in July and only put $200 down on the purchase as I was in the middle of my vaca and had no intention of writing a big check.

So the timeshare people were supposed to debt my account (voided check) for the down payment at the end August. However, due to an error on their part no debt was made. I called to inquire about the missed draft and was informed by the financial agent that they had no idea why it was not taken and she had no information on it.

She said I do not have a valid contract until the down payment is made. Which was a surprise to me since I feel I want out of the purchase anyway. The rep also said if the downpayment was not made they would keep whatever I have paid and cancel the contract.

Once the 2k downpayment is made I would then have monthly payments (financing) until it is paid off.

Now my question is can I cancel the deal by not making the down payment. I don't see anything in the paperwork about that. I haven't received any financial paperwork from Wyndham since July. So I have no idea what to do in this situation. I would prefer to cancel this deal if possible and purchase a resale which I believe will give me a significant savings. As I still like the whole timeshare deal.

Any advice would be appreciated,

Kevin

[acesneights Member Find all posts View Profile Close acesneights]

Count yourself lucky to have escaped with a $200 loss instead of a $20000 loss.

You can buy resale for around $1000-$1500 for 154K.

If there was no valid contract I'm not sure you really should forfeit the $200 but better to let sleeping dogs lie.

Stan

[Jya-Ning Silver Contributor Find all posts View Profile Close Jya-Ning]

... However, due to an error on their part no debt was made. I called to inquire about the missed draft and was informed by the financial agent that they had no idea why it was not taken and she had no information on it.

She said I do not have a valid contract until the down payment is made. Which was a surprise to me since I feel I want out of the purchase anyway. The rep also said if the downpayment was not made they would keep whatever I have paid and cancel the contract.
...

If it is their mistake, and the contract is not valid, then shouldn't it be they should return whatever you paid and cancel the contract?

read your contract in detail, make sure you see where is the mistake, if you figure that out, send a letter to them to ask for $200.

Otherwise, if you think the risk is too great, just forget the whole thing and assume you paid $200 for all the gift they give.

Jya-Ning

[mosshy2k Junior Member Find all posts View Profile Close mosshy2k]

Just to Clarify

I believe the purchase contract is a valid contract. However, before Wyndham could put through financing for the purchase they required a 2k downpayment.

Until the 2k downpayment is received they say I have no dea which I have no idea if it is true or not. So the question really is if the contract i signed was valid but the 2k downpayment was never made to secure financing is there any way out of the deal. Or will this wind up in court and I be forced to take the timeshare.

[Jya-Ning Silver Contributor Find all posts View Profile Close Jya-Ning]

So, the $200 is earnest money? Look at your contract to see what they say about the earnest money, and what they say about the contract, is it pending on the financial approval?

Don't know about the law, but I thought if it is earnest money, then it is gone. But I could be wrong here.

If the contract is depended on financial approval, then the situation I know you are off the contract, in that case, consider you sign the contract at July, you are very lucky. But again, not a lawyer and has no idea what I was talking about. You need to check with local authority that governor real estate in your state and in the TS state to see what they say.

Jya-Ning

[mosshy2k Junior Member Find all posts View Profile Close mosshy2k]

timeshare

I believe the $200 is earnest money. I couldn't care less if that is gone. However, I will check the contract to see if the sale is contingent on financial approval.

Thank you for your time.

[TimeshareVon Senior Member Find all posts View Profile Close TimeshareVon]

The "your contract isn't valid" may be a ploy to get you to respond quickly because they think you want the TS and may be afraid of losing "your deal" with them. I also wouldn't take the word of some accounting/office person with Wyndham to know whether or not the contract is valid.

I seem to recall there being an "errors and omissions" document with BlueGreen that says essentially, that if something is subsequnently found to be in error and they need your cooperation to fix it, you will do so including signing new documents. I don't know if Wyndham has such a "cover their @$$" document or not, but they might.

The only way you'll know for sure is to do as others have suggested and read every page of each document very closely.

[mosshy2k Junior Member Find all posts View Profile Close mosshy2k]

I spoke with Wyndham about wanting to cancel the purchase. I got a manager in the purchase department on the phone. He basically said the same thing as the rep from the previous day. Although he put a different spin on it.

My contract is not a contract until the full deposit has been made. He said they are under no obligation to allow me to keep the timeshare unless the deposit is made. Additionally, the Wyndham finance company will not approve the financing unless the full deposit is paid. My contract isn't even in their system due to the deposit not being paid.

Just to be on the safe side I opened a new bank account, since I believe I had given them a voided check to do the automatic drafts.

Now the next question is I would like to buy one of the timeshares on Ebay but what is a good price for 154k - 208k Wyndham points a year. And what is considered good MF's.

Thank you for your time. I wish I had found this site sooner.

[shorts Senior Member Find all posts View Profile Close shorts]

I looked at some eBay ads that were due to close today and they were running .03 to .04 per point. It would also be good to do a search for closed auctions to see what they have gone for recently. Other posters have claimed seeing points go for 1 or 2 cents per point but I didn't see any close to that. If so, they probably have high maintenance fees.

Good range for maintenance fees would be under $5 per thousand although ads I saw today were all over $5/K. Unfortunately, 3 of my contracts are over the $5/K with one of them (a converted fixed week) being 9.63/K.

UDI contracts will have a lower maintenance fee than converted weeks MOST of the time. I'm sure there are exceptions.

Good luck with your search.

Vicki

[mshatty Super Moderator Find all posts View Profile Close mshatty]

Range of FF/Wyn maintenance fees per 1,000 points

$3.25 or less, Excellent
$3.25 to $4.00 Very good
$4.00 to $5.00 Average
$5.00 and up, High, only buy for ARP privilege.

On ebay at this time, you should be able to purchase a FF/Wyn contract in the $.005 to $.01 per point.

Some of the very best points to MF ratios are converted weeks to FSP points. But you must do research to identify these and always buy red weeks that have been converted.

Not too many come on the market because the people who own these don't give them up very easily.

[mosshy2k Junior Member Find all posts View Profile Close mosshy2k]

Hello all,

Would you give me your advice on if the following timeshare would be a good purchase at 1,300.00.

189,000 Deeded Annual Fairfield Points

Fairfield Nashville

Here is your chance to own an Annual Deeded Property (Does Not Expire) at a bargain price. 189,000 Deeded Annual Fairfield Points at Fairfield Nashville, an RCI GOLD CROWN Resort, located in Nashville, TN. Mortgage is paid in full; you will receive clear title guaranteed! Usage (Points accrual) is Annual. Fees are billed monthly in the amount of $78.12 (includes taxes). Anniversary date for Points is January 1st of every year (January 1, 2008 - December 31, 2008). Your usage starts next year 2008 with 189,000 points available to the new owner. We have paid the maintenance fees in full for 2007. Resort also exchanges with RCI with Prime Location and RED WEEK status giving you maximum trading ability, should you decide to exchange your week with over 3500 resorts worldwide. Own this resort now at a fraction of the developer price. This ownership comes with a free RCI membership (a savings of $99/year). Similar ownerships sell for over $31,500, if purchased directly from the developer !!! This is a LOW Reserve auction and will be emailed upon request!

[Jya-Ning Silver Contributor Find all posts View Profile Close Jya-Ning]

I think you want to first make sure your contract is void or not before take any action. I wll guess you should have more than 10 years to use the TS, so don't rush.

The number you quote, if it is eBay, then it will not be the final number. You also need to fact in the closing cost and other money you will pay.

Also, depends on what you plan to do with this TS, it will determine if it is a good deal to you or not.


If the MF is correct, you will going to pay around $900 per year, and depends on where you want go and when you want go, you may only get 1 BD for 1Wk, or 1 BR for 4 weeks, which all affect if this is a reasonable deal to you or not.

Jya-Ning

[mosshy2k Junior Member Find all posts View Profile Close mosshy2k]

Jya -Ning,

Thanks for your input. I did speak to the account manager at Wyndham and read my contract. The contract states that if the total Earnest Money (downpayment) is not paid within 60 days the contract is void. I will be following up with a certified letter to Wyndham tomorrow stating my desire to cancel the contract for some valid reason. The manager also informed me to make sure that I don't send in any additional money or allow any bank drafts. If the deposit is paid in full then the contract becomes binding (I already closed and reopened a new bank account).

Also, as for the timeshare I mainly do international traveling. So most of my traveling for the next 2-5 years will be outside the US. So getting good RCI red week transfers appeal to me the most.

I currently have a 2 week stay in South Africa booked with the RCI under the timeshare I am canceling. We booked that vacation as soon as we got back from Hawaii. However, I will need to cancel that trip and hopefully be able to rebook it when I obtain a new timeshare.

So in light of the fact that 90% of my timeshare traveling will be outside the U.S. how would you rate the above timeshare. I am just trying to get a handle on why it may or may not be a good deal.

Of couse anything less than the 20k looks good to me at the moment


Thank you for your time.