Wyndham debuted its Ovation programme in 2015, making it the first timeshare exit programme in the United States to be publicly announced. Filling a gap left by previous programmes that dealt with similar requests individually, the Ovation programme has been established. Wyndham Vacation Ownership is the industry leader when it comes to helping you get out of your Wyndham timeshare or Club Wyndham points. Customers are still inquiring if Wyndham will return their timeshares six years into its leave programme. So if you want to get out of wyndham timeshare, this article is for you. Here we will discuss the key aspects related to the complete process.
Is Wyndham going to buy back your timeshare?
Unfortunately, the answer is no. Owners can’t directly petition Wyndham to do so because they don’t have a programme. Wyndham timeshare owners have the option to surrender their ownership or sell it on the resale market to recoup some of their initial investment, but there are still options.
When it came to helping owners decide whether or not to sell or return their timeshare, Wyndham spent a lot of time and money building a team of customer service representatives. Wyndham developed criteria for determining which timeshares should be returned and which companies they should work with in the future in order to assist timeshare owners in finding reputable resale companies. As a result, the Featured Reseller designation was created.
There is no official repurchase programme, however Wyndham admitted that some owners may seek to sell their timeshares. In order to participate in the take-back programme, owners must meet specific requirements, such as:
- There must be a full payment of all annual fees and fees related to maintenance, as well.
- In addition, there are no liens or mortgages attached to the property.
- Wyndham’s history with you is spotless.
Owners of timeshares or points who have been using their memberships for many years were the intended audience for the plan. With this new avenue, timeshare owners who are struggling with financial or health issues can make their case directly to Wyndham.
The programme has evolved over time to meet the ever-changing needs of sellers and buyers. It’s only natural that Ovation would be handed over to Wyndham, which already owns Certified Exit and Wyndham Cares.
Wyndham Timeshares can be sold through a Featured Reseller.
Because of this, the corporation realised it had to provide a way for owners and members to exit their timeshares. Wyndham works with third-party resale organisations that Wyndham has vetted in a model similar to the pre-owned car market.
To help Wyndham owners who want to sell their properties, the company recommends a select group of featured resellers. As soon as the owner decides they want to sell their timeshare or Club Wyndham points, they go through the enquiry procedure to choose a company to partner with. Any reselling company participating in the Featured Reseller programme may not charge sellers a fee up advance.
In order to put the timeshare or Wyndham points up for sale, the seller must execute a listing agreement with an agent. Agents then put the home up for sale on the internet and connect the seller with other brokers around the country, escrows the buyer’s deposit and closes the sale with a closing business after negotiating and finalising the paperwork. The resell agent, like a real estate agent, only gets paid when the sale is completed.
It is necessary to contact Wyndham as part of the sales process in order to ensure accurate validation of owner data and a seamless close of the transaction. After the sale is completed and the new owner takes possession, the seller receives a check in the mail.
How to Transfer Ownership of Your Timeshare to another Person
If an owner wishes to leave Wyndham, the company prefers a new, paying owner to replace them rather than taking ownership back directly from the current owner. The owners of these properties are well aware, however, that some of them face difficulties and are forced to leave. Both outcomes have been factored into their plans.
Wyndham’s resale programme is a boon to owners who are looking for a way to recoup some of their investment. Licenced timeshare resale agents are the only ones who are allowed to legally price timeshares in the majority of states. We figured this would be a great location to start answering questions from potential sellers about the resale value of a Wyndham timeshare. Highlighted sellers will place their homes on the market, even if they still owe money on them.
As an alternative, Wyndham provides owners with a straightforward exit, but there is no financial incentive for doing so. Using a Wyndham-approved resale business is the best way for a timeshare or points owner to recoup their investment.