Bought from developer: Wyndham Ocenside -- need help

[timeos2 Senior Member Find all posts View Profile Close timeos2]

EVERY new Wyndham resort is always "going to be IMPOSSIBLE to get into unless you own here" yet, somehow, in almost 15 years of Fairshare Points use we have never been unable to get the week/resort/.unit size we wanted simply by reserving with our non-VIP, resale points. And that includes Royal Vista (on Y2K no less) and Alexandria among many others. We haven't tried summer Myrtle Beach, which I hear even owners have a tough time getting, but if we do I'm fairly certain we'll get it.

A point is a point in the Wyndham system. Home resort only plays for ARP (13 vs 10 month booking opportunity) and to set your annual fees. While you may want to buy at that resort if you REALLY like it (sounds like you do) and want the extra reservation time it would still be beyond foolish to buy it retail. Hold out and watch for offers just a bit and you'll save at least 25% - most likely far more - on a resale for every year use. DON'T BUY RETAIL WYNDHAM Rescind that deal.

[cal5215 Junior Member Find all posts View Profile Close cal5215]

While you may want to buy at that resort if you REALLY like it (sounds like you do) and want the extra reservation time it would still be beyond foolish to buy it retail. Hold out and watch for offers just a bit and you'll save at least 25% - most likely far more - on a resale for every year use. DON'T BUY RETAIL WYNDHAM Rescind that deal.

Yes, I really like this resort. I think my primary concern at this point is supply of resale deeds at this resort (and price at resale when one becomes available given the short supply) since I do not see any on eBay. The resort is fairly small. Also the hassle factor of going through resale. Really on the fence (50-50) about rescinding at this point.

Cal5215

[timeos2 Senior Member Find all posts View Profile Close timeos2]

There is no rush

Yes, I really like this resort. I think my primary concern at this point is supply of resale deeds at this resort (and price at resale when one becomes available given the short supply) since I do not see any on eBay. The resort is fairly small. Also the hassle factor of going through resale. Really on the fence (50-50) about rescinding at this point.

Cal5215

Slow down. Unless you have thousands of dollars you just can't wait to spend you need to take a step back. It's like drooling over the Corvette in the showroom that nothing else will do. Go in with that attitude and you'll pay too much. Go in with 5 cars in mind, be willing to walk out and you'll get your deal. Same here. Don't think this is a one time thing. It's not. And if you can just be a bit patient you'll do much better financially than the deal you have now. I still say rescind. That deal will still be there in a month. If you don't you'll own it at far too high a price compared to what you could have purchased it for with no rights/use/points that the resale buyer who may pay 90% less than you doesn't also have. But it's your money. We're only trying to help you hold on to some more of it.

[cal5215 Junior Member Find all posts View Profile Close cal5215]

I found several "for sale" on other websites (not eBay). A few are discounted by 50%. Enough to push me over the fence and rescind. Don't know how legit these websites are but it gives me some confidence on availability.

Buy Wyndham Oceanside Pier Resort Oceanside, California United States Timeshare Resales
Buy Wyndham Oceanside Pier Resort Timeshare - Oceanside, California - Any Bedrooms, Any Bathrooms, Week Float - Timeshares For Rent, Timeshares For Sale
Buy Wyndham Oceanside Pier Resort Oceanside, California United States Timeshare Resales

My sincere thanks to all of you who responded.

cal5215

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

Yes, I really like this resort. I think my primary concern at this point is supply of resale deeds at this resort (and price at resale when one becomes available given the short supply) since I do not see any on eBay. The resort is fairly small. Also the hassle factor of going through resale. Really on the fence (50-50) about rescinding at this point.

Cal5215

It's not much of a hassle buying resale. I have bought and sold over 20 timeshares. Never much of a problem.. other than sometimes the seller or closing company being slow.

You'd need to make sure you use a reputable timeshare closing service.
The one I see recommended and have used often is Timeshare Transfer, Inc. - Timeshare Title Transfer, Timeshare Closing Service I think its about $300 total including escrow.

Also, they have a licensed bonded escrow company. So your money is completely safe. You never send any money.. other than maybe a small deposit, to the seller. The escrow company hold the money until the transfer is complete and the timeshare is deeded in your name.

[cal5215 Junior Member Find all posts View Profile Close cal5215]

Thanks. I signed and faxed the cancellation notice. Also sent the original (one page notice) to the P.O. Box address via USPS Priority Mail with Signature confirmation. Also made a copy and mailed it to myself. Don't know what else I can do to guarantee cancellation. The notice says clearly that it must be SENT within 7 calendar days (I purchased on July 14) so I am well within that date range.

I found several websites where sellers are willing to sell for 1/3 the price that I paid. I put the links in another post but that post must be stuck somewhere. As soon as I get confirmation of cancellation from Wyndham, I will buy points at this resort via resale. Cali -- I will try to get the seller/broker to use the closing company you recommended.

Thanks for all the advice from everyone who responded. Clearly your advice made a difference.

Regards,
Cal5215

[cal5215 Junior Member Find all posts View Profile Close cal5215]

By the way, don't hand deliever, make sure you follow what the contract say. Although a good % of the saleman will honor your wishes, I do know someone will be tricky and want to make sure you follow all the writing to detail. I believe the contract requires certified mail.

Jya-Ning

It did not say anything about certified mail. I read it 5 times. fax or mail. Sent by fax and via priority mail with signature confirmation. Will print the signature and keep it in my records.

[taffy19 Gold Contributor Find all posts View Profile Close taffy19]

EVERY new Wyndham resort is always "going to be IMPOSSIBLE to get into unless you own here" yet, somehow, in almost 15 years of Fairshare Points use we have never been unable to get the week/resort/.unit size we wanted simply by reserving with our non-VIP, resale points. And that includes Royal Vista (on Y2K no less) and Alexandria among many others. We haven't tried summer Myrtle Beach, which I hear even owners have a tough time getting, but if we do I'm fairly certain we'll get it.

A point is a point in the Wyndham system. Home resort only plays for ARP (13 vs 10 month booking opportunity) and to set your annual fees. While you may want to buy at that resort if you REALLY like it (sounds like you do) and want the extra reservation time it would still be beyond foolish to buy it retail. Hold out and watch for offers just a bit and you'll save at least 25% - most likely far more - on a resale for every year use. DON'T BUY RETAIL WYNDHAM Rescind that deal.

I heard the same story when we toured the resort at Waikiki Beach. Now, I see it listed many times in the ex-opps forum. However, I thought that the FS perks (early reservations) don't go to the resale buyer so will this person then still be able to book the summer weeks at his own resort since it is so popular? Note that many nice resort chains are starting to build in southern CA but not on the beach, I believe.

What I have a problem with is that they keep taking more perks away so that they can sell direct and it will be harder to exchange in newer resorts with older resorts that were bought re-sale because you need so many points and with so many restrictions.

I don't think that there will be any price increases coming for a while because of the economy so, when in doubt, I would rescind and study the pro and cons a little further. It's easy to buy but not easy to unload and then for pennies on the dollar.

PS. I see you have rescinded already. Good for you.

[taffy19 Gold Contributor Find all posts View Profile Close taffy19]

It did not say anything about certified mail. I read it 5 times. fax or mail. Sent by fax and via priority mail with signature confirmation. Will print the signature and keep it in my records.

Certified mail with proof was for your own protection.

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

However, I thought that the FS perks (early reservations) don't go to the resale buyer

The disappearing perks you are thinking of (early check-in perhaps?) are VIP. What the OP wants is ARP rights into Oceanside---any deed there, resale or developer, will have ARP rights.

[taffy19 Gold Contributor Find all posts View Profile Close taffy19]

What does ARP stand for? So it isn't so bad then if you buy resale? Personally, I don't trust any developer anymore because they will do what needs to be done to hinder re-sales from happening as it is competition for them.

[timeos2 Senior Member Find all posts View Profile Close timeos2]

What does ARP stand for? So it isn't so bad then if you buy resale? Personally, I don't trust any developer anymore because they will do what needs to be done to hinder re-sales from happening as it is competition for them.

Advanced Reservation Period. It is tied to ownership - not a changeable perk. That's the beauty of FSP points - the base value is locked and cannot be altered. Whereas the perks - early check in, "free" papers, very late reservation points discount - can and do get changed on a whim (strangely usually requiring more developer points purchase to maintain, weird, huh?) So paying a 90% premium for the exact same base rights and a few malleable and inexpensive perks simply makes no sense. Even if they stayed consistent it would take decades to break even - but they don't so break even is highly unlikely.

Buy resale or don't buy Wyndham points.

[GrayFal Silver Contributor and supermoderator Find all posts View Profile Close GrayFal]

Thanks. I signed and faxed the cancellation notice. Also sent the original (one page notice) to the P.O. Box address via USPS Priority Mail with Signature confirmation. Also made a copy and mailed it to myself. Don't know what else I can do to guarantee cancellation. The notice says clearly that it must be SENT within 7 calendar days (I purchased on July 14) so I am well within that date range.

I found several websites where sellers are willing to sell for 1/3 the price that I paid. I put the links in another post but that post must be stuck somewhere. As soon as I get confirmation of cancellation from Wyndham, I will buy points at this resort via resale. Cali -- I will try to get the seller/broker to use the closing company you recommended.

Thanks for all the advice from everyone who responded. Clearly your advice made a difference.

Regards,
Cal5215

I am glad to hear you say you have rescinded.....and if you REALLY want this resort - buy enough points resale to get you the minimum reservation you want - and then shop around for REALLY cheap maintenance fee resorts to round out your ownership.

I have purchased (thanks to the great advice of mshatty and Jya-Ning) 329K resale points for under $4,000 including closing costs.... so spend the time to read the info on this Wyndham board and 'opt in' to the Wyndham HOA board....feel free to go back 6 months and read my posts on this board - I have asked all the same questions u have and received excellent answers.

Happy Shopping!

[taffy19 Gold Contributor Find all posts View Profile Close taffy19]

Advanced Reservation Period. It is tied to ownership - not a changeable perk. That's the beauty of FSP points - the base value is locked and cannot be altered. Whereas the perks - early check in, "free" papers, very late reservation points discount - can and do get changed on a whim (strangely usually requiring more developer points purchase to maintain, weird, huh?) So paying a 90% premium for the exact same base rights and a few malleable and inexpensive perks simply makes no sense. Even if they stayed consistent it would take decades to break even - but they don't so break even is highly unlikely.

Buy resale or don't buy Wyndham points.

Thank you for clarifying. When we took that presentation at Waikiki Beach, it lasted for hours as so many point packages were thrown at us. I wrote them all down as quick as I could but it still was very confusing. I didn't realize that the ARP would stay with the deed and that is important.

We had no intention in buying and am very glad we didn't if you can buy the same thing re-sale too but I wanted to hear about these points vs. weeks and I wanted to see the condos too. There was no other way than to take a presentation. The condos were nice and in a great location but not on the beach. Only steps away though.

Since the OP is Living in southern CA, buying close to home is a much smarter idea.

[cal5215 Junior Member Find all posts View Profile Close cal5215]

I am glad to hear you say you have rescinded.....and if you REALLY want this resort - buy enough points resale to get you the minimum reservation you want - and then shop around for REALLY cheap maintenance fee resorts to round out your ownership.

I have purchased (thanks to the great advice of mshatty and Jya-Ning) 329K resale points for under $4,000 including closing costs.... so spend the time to read the info on this Wyndham board and 'opt in' to the Wyndham HOA board....feel free to go back 6 months and read my posts on this board - I have asked all the same questions u have and received excellent answers.

Happy Shopping!

I was thinking of buying 2 resales for this reason, one at Oceanside Pier (for ARP) and another somewhere else (for points). It seems that in the long term, the real cost is the maintenance fee (since the upfront costs seem so low on eBay). So the key question becomes: which resort has the lowest maintenance fee? I will try to search for your questions in prior posts but would appreciate pointers.

Thanks,
Cal5215