If you own a Wyndham resorts timeshare, the chances are good that you want out. (In fact, the numbers show that the vast majority of timeshare owners regret their purchases.) Reviews by Wyndham owners detail a long list of reasons, from sales misrepresentations to poor customer service.
Like other timeshare companies, Wyndham’s business model depends on getting people to join Club Wyndham and then making it as hard as possible for them to leave the club.
Wyndham can’t collect maintenance fees and membership dues unless it has members from which to get that money. So, it’s in their interest to force you into planning all your getaways with them to Wyndham destinations for the rest of your life. That’s why so many owners have found themselves stuck, seemingly unable to escape.
Wyndham has made attempts to address the problems reflected by the poor reviews by starting a number of programs purportedly designed to help owners out of their units. The most recent of these is known as the Wyndham Resale Program.
Unlike Wyndham’s earlier attempts at “exit programs,” the Wyndham Resale Program uses an affiliated real estate brokerage company (Wyndham Vacation Ownership, Inc.) to sell Wyndham timeshare contracts to new owners, who would then allegedly take over the timeshare fee payments and other obligations.
The Wyndham Resale Program, though, is really just a new coat of paint put over the company’s longtime business practices. It’s not going to help most people escape Wyndham ownership, and during the time you’re waiting for a solution, you’ll still be paying those annual maintenance fees and other costs (like the RCI exchange program fees).
This article will take a look at Wyndham’s timeshare resales and their evolution through the earlier, similar-sounding Wyndham programs. We’ll talk about why selling timeshares rarely ever resolves the problems with timeshare ownership and especially why it won’t work out with your timeshare resort “helping” you.
Finally, we’ll show you a better way: working with Centerstone Group to achieve a lasting, ethical exit that can give you peace of mind and financial security.
Owners who hear about the Wyndham Resale Program may be feeling a bit of deja vu. It’s not the first time Wyndham has unveiled a program like this. Really, the program is just the latest coat of paint on something that Wyndham has been trying to sell its unit owners for years.
First, Wyndham tried something that it called Ovation. Ovation was a program that allowed owners to deed back their units to Wyndham if they had paid everything off. And of course, that would only even be considered as an option after a slew of sales pitches. (No matter what program you try to use, expect them to try selling you more Wyndham points or fixed weeks.)
Of course, because most owners who needed the program hadn’t paid everything off, the program more often resulted in a temporary fee reduction or assistance in trying to sell a unit. (You’ll notice that this last option sounds an awful lot like the new Wyndham Resale Program.) Ovation may have worked for some owners, but it didn’t help the people who really needed it.
Wyndham Cares is the revamped version of the Ovation program. In reality, it’s not much different. Owners need to be “accepted” into the program by Wyndham, and the chief requirement for that acceptance is that an owner needs to be current on all their payments and maintenance fees. (This requirement again excludes the people who need the program most.)
If you owe fees or have an outstanding balance on your loan, Wyndham might still make an attempt to look like it’s helping. They could refer you to a real estate brokerage, which would then try to help you sell your timeshare.
The brokerage option, though, rarely works well if it works at all. In many cases, owners would find that selling their units was difficult or impossible. And when they could sell, it was for pennies on the dollar. And of course, the owners owe extra fees to Wyndham for facilitating the ownership transfer on top of the maintenance fees and other amounts they owe.
The Wyndham Resale Program appears to be a slightly revamped and relabeled offering of the second part of Wyndham Cares. Rather than referring the timeshare sale out to a third-party broker, Wyndham uses one of its companies to try and sell your points.
The problem here is that Wyndham doesn’t have much reason to try and sell your points over its own inventory. Often, this program is just a way to delay, keeping owners in the system and paying fees while Wyndham takes its time with a sale that it doesn’t have much motivation to try and make.
Another benefit for Wyndham is that you probably won’t even use the number of points you have in this long period where you are trying to sell them. So instead of making a getaway to Orlando, Florida or Las Vegas, Nevada, you’re just paying your maintenance fees and other costs while Wyndham takes its sweet time and rents out your time, profiting from your lack of use and delaying their process.
All of these programs have the same basic problems. First, participation in any of them is up to Wyndham, which is the company that got you into this mess in the first place. Second, and more importantly, successfully selling a Club Wyndham timeshare on the resale market is nearly impossible, particularly if you want to make any money on the deal.
And then there is the online secondary market. Sites like eBay and Craigslist are filled with ads for $1 timeshares, or even free timeshares! You can also find plenty of people trying to unload absurd numbers of timeshare points for similar amounts.
Other owners take a different tack, posting ads for low-priced rentals in an attempt to cover their rising costs. Wyndham is currently working to stop this practice, with stricter rules, as it competes with Wyndham’s own rental program. It’s also likely that Wyndham will outright ban the practice before too much time has passed, just like other timeshare developers have.
The many timeshare rentals on the internet aren’t because wealthy timeshare owners want to spread happiness throughout the world. It’s because there are a lot of desperate owners who haven’t been able to sell their units using conventional means. It’s those normal people who are financially struggling that need to stop the bleeding of annual maintenance fees and other costs.
Even if you haven’t exhausted all your sales options yet, these $1 and $0 offers should concern you. They dilute any value that your timeshare might have on the market. For example, if you had a unit that was legitimately worth $4,000, the fact that so many similar units are being given away means you will not get anywhere near what your unit is worth.
Also, keep in mind that Wyndham will charge fees to make the transfer. Those fees will almost always be borne by you, the seller, on top of all the other costs you will have to pay.
When you look at it this way, you’ll see that it doesn’t matter whether Wyndham or a third-party reseller is helping you. Selling your timeshare is a dream that is probably not going to come true. And guess who will be paying all of the costs and fees while Wyndham is listing your unit? That’s right — you’ll still be on the hook.
Albert Einstein is often quoted as saying, “Insanity is doing the same thing over and over and expecting different results.” That goes double for these Wyndham exit programs. They are all basically different versions of the same thing. Your developer will help if, one, it decides to and, two, it’s in their best interest, which seldom happens. Then, while it is taking its time with no guarantee of success, it still charges you fees.
Going through Wyndham to get rid of your timeshare is like putting the fox in charge of the henhouse. You’re not going to make progress, and you’ll probably be in a worse place by the time you’re done.
You’re not out of options, though, Centerstone Group is a company made up of professionals with decades of experience in the timeshare industry. We know the tricks that developers use, and we know how to get results with our proprietary methods to achieve successful and lasting exits from timeshare contracts.
Maybe your situation will call for one of our pressure campaigns, which can include correspondence, administrative complaints, and other methods to get the developer to do the right thing. Or, depending on the circumstances, you may need more serious legal intervention. We can retain affordable, experienced lawyers to help us get you the exit you need.
But don’t take our word for it. Centerstone Group is certified by the Better Business Bureau (BBB) and has an A rating. It also has excellent customer reviews. Compare those reviews to customer reviews for Wyndham, particularly, Wyndham’s customer service, and the correct choice will be clear.
Wyndham would like for its owners to believe that they have no option but to go through Wyndham’s own in-house programs to exit their timeshares. That is just not the case. Remember, Wyndham’s options are there to help Wyndham, not you.
If you are struggling and don’t know who else to turn to, contact Centerstone Group today. We’ll give you a free consultation and case evaluation, and come up with the best options for your situation.
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