Wyndham Buy back Program

patrickm348 wrote:

I found donating my Timeshare to Charity to be the best option.

That might have been the best option for you in your situation, but how much did the charity charge you to donate it?

For me $2800, However, I got almost all of it back in tax deductions.

So if you got back say $2000 in tax deductions, that means that your timeshare was worth about four times that, or $8000. Since it was worth $8000, why didn't you try to sell it for conservatively half that amount? That would have been $4000 in your pocket instead of you losing $2800 less what you got back in tax deductions.

hi, we too would like to talk to wyndham to negotiate with them to buy back our t/s. Was going to drive from Pittsburgh to Orlando [Bonnet Creekis our home t/s] Do you think this is a waste of time and effort? I figure they sell "new" contracts, and will not buy back a t/s to re-sell. Please respond. Thanx, Dave K.

janetk77 wrote:

Wyndham will not do anything to help you with this unless you made a special type of purchase that has a buy back clause in it. I have tried numerous times to work directly with Wyndham.

davek77 wrote:

hi, we too would like to talk to wyndham to negotiate with them to buy back our t/s. Was going to drive from Pittsburgh to Orlando [Bonnet Creekis our home t/s] Do you think this is a waste of time and effort? I figure they sell "new" contracts, and will not buy back a t/s to re-sell. Please respond. Thanx, Dave K.

I wasn't aware that Wyndham was buying back points but it might be worth your time to contact them (Wyndham only .... not any other business saying they buy Wyndham points) ..... Bonnet Creek is a VERY popular timeshare resort adjacent to Disney.

patrickm348 wrote:

For me $2800, However, I got almost all of it back in tax deductions.

If you gave your timeshare to a charity the fair market value is zero (the IRS goes by fair market value only), so you should be looking for a bill from the IRS including interest and penalties in the future.

Thankz for your reply. I think I'm better off dealing with a broker etc & redbook , than Wyndham. Got ripped off by the "bad guys once", wont happen again.

davek77 wrote:

hi, we too would like to talk to wyndham to negotiate with them to buy back our t/s. Was going to drive from Pittsburgh to Orlando [Bonnet Creekis our home t/s] Do you think this is a waste of time and effort? I figure they sell "new" contracts, and will not buy back a t/s to re-sell. Please respond. Thanx, Dave K.

janetk77 wrote:

Wyndham will not do anything to help you with this unless you made a special type of purchase that has a buy back clause in it. I have tried numerous times to work directly with Wyndham.

*** PLEASE REPLY if you have completed a transfer back to Wyndham. They are taking back some Wyndham Pagosa TS. I bought a fixed week in 1990, & always exchanged w/RCI. I have over 3 years banked & Wyndham sent me paperwork to transfer to them for free -after 3 yrs of requests to POA. I want to get out of my TS, but hate to lose the RCI acct & exchange value - also the 'agreement' they attached has no binder for them to file the transfer (or date for such), & no corporate signature, just holds me liable for assessments & fees until the transfer is filed with the court. By phone, they say 'don't worry', but I can't get them to address my concerns by email.

davek77 wrote:

Thankz for your reply. I think I'm better off dealing with a broker etc & redbook , than Wyndham. Got ripped off by the "bad guys once", wont happen again.

davek77 wrote:

hi, we too would like to talk to wyndham to negotiate with them to buy back our t/s. Was going to drive from Pittsburgh to Orlando [Bonnet Creekis our home t/s] Do you think this is a waste of time and effort? I figure they sell "new" contracts, and will not buy back a t/s to re-sell. Please respond. Thanx, Dave K.

janetk77 wrote:

Wyndham will not do anything to help you with this unless you made a special type of purchase that has a buy back clause in it. I have tried numerous times to work directly with Wyndham.

I noticed that when I'm on the Redbook site, there are entities suggesting? to sell your T/S thru them. How do I know they are reputable and just didnt "camp" on the Redbook site? Would consider trying to sell thru Redbook or an aproved co if Redbook can "endorse" them. Too many scammers out there with all kind of angles. Tx Davek77

Wyndham is not going to BUY BACK your time share unless you agree to buy an even more expensive timeshare owing I would guess a minimum of an additional $12,000-$20,000. Although they will spin the numbers and make it seem like your payments will be less, they will be more.

If you are having real financial difficulties, they may agree to a to accept a deed back, if you have paid off the mortgage and only owe the monthly mf's. The may still require a $300-$500 settlement fee to do this.

Most reputable brokers charge a minimum of $1500-$2500 commission after the timeshare sells. If you own less than 500,000 points at Bonnet Creek I can't imagine it being worth the expense of using a broker. Bonnet Creek is a popular resort and the value is generally above $0; so as long as the mortgage is paid off you should be able to sell by listing on Redweek and other low cost and free sites. If you still owe on the unit you will need to pay it off before you can sell.

Sorry, I used the name Redbook". I meant "REDWEEK". DaveK77

Wyndham has bought some properties back but like another person said, they had a special contract. But the reality is no one wants to buy these things anymore not when you can rent as a none owner online at a fraction of the cost and I can book last minute anywhere I want to go. I tried resales and that didn't work all they did was take my money and list the property, they said if no one bought it they would buy it themselves it never happened. I ended up using a company called SafeExit, LLC and they helped me get out, they were very friendly and didn't pressure me to make a decision immediately. They even showed me how to recoup the money spent on my initial purchase and on the resale company. So all and all I was happy with that process because wyndham was not being very helpful to me.

Shill alert !!!!

Wyndham has one buy back program called Pathway. It is new...the only way this will help you is that you are Gold owner and the T/S is paid for. If these apply to you, they can buy it back but you will never get as much as you paid for it. I had another T/S in Daytona Beach and it was terrible...changed owners several times and Diamond Resorts finally had the properties. No buy back programs; I did a quit claim deed which doesn't cost much. You have to file the deed in the county where the T/S is located. This releases you from any/all ties and the property goes back to the resort owner. Believe me, it was well worth it to be disassociated with that wracket.

You can only quit claim back to the resort (or any person or entity for that matter) if they agree to accept the deed. If the resort isn't willing to accept the deed back through quit claim or any other form, it doesn't matter if you register the (quit claim) deed or not, you are still the owner. A "grantor" can not give/deed/transfer/will a deed to a "grantee" who is unwilling to accept. Anyone who tries to do this will not be "released from any/all ties" and will still be the owner on record.

Gailm69 is trying to steer people to her scam operation. I reported her to Redweek to have her post removed. Her operation is a SCAM. NEVER pay anyone money upfront to dispose of your timeshare !!!

gailm69 wrote:

Wyndham has one buy back program called Pathway. It is new...the only way this will help you is that you are Gold owner and the T/S is paid for. If these apply to you, they can buy it back but you will never get as much as you paid for it. I had another T/S in Daytona Beach and it was terrible...changed owners several times and Diamond Resorts finally had the properties. No buy back programs; I did a quit claim deed which doesn't cost much. You have to file the deed in the county where the T/S is located. This releases you from any/all ties and the property goes back to the resort owner. Believe me, it was well worth it to be disassociated with that wracket. There is a business located in Old Hickory TN, close to Nashville, that can help you. Call Lee Acker. He is legit and is also partnered with a legal agency.

One more time, a quit claim deed will not work unless the resort is willing to take the deed back .... you, more than likely, still own the timeshare that you thought you had 'quit claim' deeded back to the resort.

Jayjay please edit your post so his contact number does not appear.

Wyndham is nothing but a scam. DO NOT invest any money in their buyback program. It's just another way for them to steal money from you. If you were as stupid as I was and purchased a Wyndham property, your best bet is to pay it off then find a company to donate it to. The only reason that Wyndham is still in business is that they do not record their salespeople when they are selling the timeshares to people. If they did, they would be convicted of fraud. I was told that A. My timeshare would increase in value, B. If I ever wanted to sell it, I would be able to make a profit, and C. The mortgage would be tax deductible. All of these were lies. The buyback program is just another opportunity for them to stick it in a little deeper. If anyone is reading this, I have an idea: Get a group of people together, and each of you send letters to 10 senior homes explaining what Wyndham really is (a legal con operation). This might make it harder for them to screw people during the sales presentations. That's all.

P.S.: Wyndham is mafia owned. The reason I didn't put my real name and email address in here is that I don't want to get shot walking to the bus one morning.

I don't know about the mafia part, but they are definitely con artists. In January I succumbed to an owner update (every time I swear I'll never do it again and then I get taken in by the $100 bribe). Anyway, I was quite interested in this buy back scheme which GUARANTEED they would buy your unit back at any time for a certain percent of your equity. Of course I would not sign anything on the spot and they would NOT give me a copy of the proposal they offered (of course not!) They did a CYA by giving me a copy of a different and very expensive offer. So, I called back the next day and said I had perused the Wyndham website and catalog and could find nothing referring to a buyback program and wanted them to send me the policy in writing. They wouldn't do that. They said they had offered me a contract that they had bought back that contained the promise. I said if it wasn't in writing anywhere as a Wyndham Policy then it didn't exist. They argued strenuously against that line of reasoning, but the conversation ended there.

notb wrote:

Wyndham is nothing but a scam. DO NOT invest any money in their buyback program. It's just another way for them to steal money from you. If you were as stupid as I was and purchased a Wyndham property, your best bet is to pay it off then find a company to donate it to. The only reason that Wyndham is still in business is that they do not record their salespeople when they are selling the timeshares to people. If they did, they would be convicted of fraud. I was told that A. My timeshare would increase in value, B. If I ever wanted to sell it, I would be able to make a profit, and C. The mortgage would be tax deductible. All of these were lies. The buyback program is just another opportunity for them to stick it in a little deeper. If anyone is reading this, I have an idea: Get a group of people together, and each of you send letters to 10 senior homes explaining what Wyndham really is (a legal con operation). This might make it harder for them to screw people during the sales presentations. That's all.

P.S.: Wyndham is mafia owned. The reason I didn't put my real name and email address in here is that I don't want to get shot walking to the bus one morning.