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Sellling Ownership to GC Getaways

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 PostPosted: Sat 26 Aug 2017 2:25 pm   

Joined: Sat 24 Dec 2016 10:26 am
Posts: 10
Hi Everyone.

I attended a dinner where GC Getaways offered to get me out of my WorldMark Ownership for $9k. My $1,400 WM annual maintenance fees would stop basically immediately -- as would any new credits, of course. They also -- for $199/year after a free year -- have this GCG Rewards Travel Site that sells weeks in RCI & II resorts for a variety of prices. Did not spend a lot of time on it, but some of the prices were really good -- while others, like WM Anaheim (only one week available the entire year for well over $2k).

Anyway, I will be talking to WM to see what they have to say, but thought some of you would have some experience/insights with this company and/or others that offer to sell your ownership. I plan to ask more Qs of GCG, but I did learn that the ownership just goes back to the developer.

Thx!!

Michael Bauman
Concord, CA
Owner Since 1997


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 PostPosted: Sat 26 Aug 2017 2:35 pm   

Joined: Sat 18 May 2013 2:54 pm
Posts: 211
Why would you pay a sleezy ball company to take your worldmark, when it actually has value unlike many other time shares.

If your interested in getting out, post it for sale here.

Harry

Sent from my SM-N910T using Tapatalk


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 PostPosted: Sat 26 Aug 2017 3:57 pm   

Joined: Sun 07 Mar 2004 3:53 pm
Posts: 12333
Location: next to the outhouse
Never pay anyone $$ upfront to take over any timeshare.

Did you really mean they want $9k??? $9k??

From your MF's payment given, I presume you are on the 17 to 20k range of permanent credits. 20 k accounts are quite popular. Also, if you want some of your $$ back, you can sell one to use credits to another owner. (Twice your annual allotment).

There are well respected resale agents for World ark sales if you do want someone to sell it for you. Or you can try to sell it yourself on here or the FB page...... Worldmark the Club - Buy Sell, Rent.

If you still wish to travel, I would advise learning how to exchange to get different locations.

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Pass on small kindnesses every day.. you'll be surpised how good it will make you feel!


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 PostPosted: Sat 26 Aug 2017 5:02 pm   
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Joined: Tue 11 Nov 2008 1:20 pm
Posts: 4065
Location: San Antonio, TX
For half that amount, I'll take it off your hands and book any WM, Club Wyndham, II, or RCI vacation you want for the next 20 years at cost....

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Eric


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 PostPosted: Sat 26 Aug 2017 5:04 pm   
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Joined: Wed 21 Jul 2004 4:51 pm
Posts: 11168
Location: California
Those vacation club type sites are generally useless. They'll have desert in summer and frozen
tundra in winter.
You didn't say how many credits you own.
30000 or more?

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 PostPosted: Sat 26 Aug 2017 5:58 pm   
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Joined: Mon 11 Jul 2005 7:22 pm
Posts: 151
Location: Port Orchard, WA
Michael,

Let us know what you have and you will gets lots of offers to PAY YOU MONEY for your Worldmark timeshare. Why pay to get rid of a Worldmark account that has lots of value?

Henri


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 PostPosted: Sat 26 Aug 2017 7:23 pm   

Joined: Sat 24 Dec 2016 10:26 am
Posts: 10
thank you for everyone's responses...I dont hang out on this site nearly enough -- though I have not traveled much the last five years,
since my wife died -- selling vacations to donations to my favorite charity & giving to friends.

anyway, let me clarify a few things...yes, I do have 20,000 credits (12k through WM, 8k on the secondary market) & have been very happy with WM....I did not go to the dinner meeting to sell, but it was a free meal to hear "an update"...their idea is to use the "savings" -- paying this company $900/year for ten years instead of the $1,400 (at least) to WM -- on similar vacations through their web site...Ive been pretty good at getting a lot out of my timeshare, but always open to more ideas (as I said earlier, I need to be on this site much much more than I have been)....a couple things:

1. herindoors wrote "From your MF's payment given, I presume you are on the 17 to 20k range of permanent credits. 20 k accounts are quite popular. Also, if you want some of your $$ back, you can sell one to use credits to another owner. (Twice your annual allotment)."

Could you explain your last sentence?

2. ecwich wrote "FACT: We have two independent BoD members - Bob Morrison and Cecilia Cuevas. You can trust that they are independent BoD members, because WMOwners Inc. cast proxy votes for them in the 2011 election. Both of these owners do not have any current or previous financial ties to Wyndham, and meet the IRS and SEC criteria for independent board members."

I would like to give my proxy to "them" or whomever the group is suggesting this year. Please give me direction on this.

Thx!

Michael
925-451-7682 (cell for phone or text)


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 PostPosted: Sat 26 Aug 2017 9:05 pm   

Joined: Sun 07 Mar 2004 3:53 pm
Posts: 12333
Location: next to the outhouse
bauman4peace2 wrote:
thank you for everyone's responses...I dont hang out on this site nearly enough -- though I have not traveled much the last five years,
since my wife died -- selling vacations to donations to my favorite charity & giving to friends.

anyway, let me clarify a few things...yes, I do have 20,000 credits (12k through WM, 8k on the secondary market) & have been very happy with WM....I did not go to the dinner meeting to sell, but it was a free meal to hear "an update"...their idea is to use the "savings" -- paying this company $900/year for ten years instead of the $1,400 (at least) to WM -- on similar vacations through their web site...Ive been pretty good at getting a lot out of my timeshare, but always open to more ideas (as I said earlier, I need to be on this site much much more than I have been)....a couple things:

1. herindoors wrote "From your MF's payment given, I presume you are on the 17 to 20k range of permanent credits. 20 k accounts are quite popular. Also, if you want some of your $$ back, you can sell one to use credits to another owner. (Twice your annual allotment)."

Could you explain your last sentence?

2. ecwich wrote "FACT: We have two independent BoD members - Bob Morrison and Cecilia Cuevas. You can trust that they are independent BoD members, because WMOwners Inc. cast proxy votes for them in the 2011 election. Both of these owners do not have any current or previous financial ties to Wyndham, and meet the IRS and SEC criteria for independent board members."

I would like to give my proxy to "them" or whomever the group is suggesting this year. Please give me direction on this.

Thx!

Michael
925-451-7682 (cell for phone or text)



I have a 40k account. If I don't want to use all my annual credits in the "availalble to use" bucket, I can "sell" (transfer) them to another owner for their use. The selling price is currently around 7 cents a credit. They are referred to as "one time use" credits. To borrow credits can't be transferred. There is a form on the main Worldmark the Club website to fill out and send into Wyndham. They will need the buyer's name and account number. Payment is up to the seller and buyer. Usually payment is via paypal. All account maintenance fees or any other outstanding fees must be up to date before transfers like this can be made.
PleasE ask any other questions you have.

I will also point out that Henri, who posted above, is a very good and honourable sales broker with a WA state real estate license, meaning that his escrow services are safe. He would be able to help you sell if you go that route.

Hope this helps and makes sense.

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Pass on small kindnesses every day.. you'll be surpised how good it will make you feel!


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 PostPosted: Sat 26 Aug 2017 9:49 pm   

Joined: Fri 27 May 2005 6:15 am
Posts: 2803
To add to Ann's post:
Transferring one time use credits from one owner to another is referred to as renting credits. You can check the credit for rent threads for example. There is a new restriction of transferring only twice the amount of your account either in or out. So, in your case, you can rent up to 40,000 credits to another owner. The going rate is around 7 cents per credit so you could get $2800 while still keeping your account.
Transferring your entire account permanently to another person is selling your account. The going rate is around 0.30/credit plus another 7 cents per credit for any credits in your available to use bucket and additional for any housekeeping tokens. I haven't checked recently so check the Memberships for sale section to compare.

As Ann mentioned, Henri is a WM reseller with an excellent reputation if you would like to work with somebody to help you through the process of selling.

Please consider giving your proxy to WMowners. They will research the candidates and vote for the best owner representative. See this thread for details: https://wmowners.com/forum/viewtopic.php?f=53&t=47617
Eric has a different definition of independent than I do. The 2 so-called independent Board members were selected by Wyndham over other candidates who received more owner votes and should have been elected (and would have been under Trendwest's voting procedure). They have voted in lock step with Wyndham throughout. Not my definition of independent.

Sue

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Resorts Visited: All WA, OR, ID, MT, CO, UT resorts + Las Vegas Blvd, Reno, South Shore, Rancho Vistoso, Bison Ranch, Fairfield Sedona, Big Bear, Bass Lake, Angels Camp, Marina Dunes, San Francisco, Windsor, Clear Lake, Kona, Kauai, Oceanside, Pismo Beach, Solvang.

Non-WM:II (All blue deposits; studio-2BR) Grand Monarch Cancun, Newport Coast Villas, Pollard Brook, Harbor Ridge, FSA, Sedona Summit, Starr Pass Golf Suites, Lawrence Welk Resort villas, Stoneridge at Blanchard, Hyatt High Sierra, Ridge Tahoe, Marriott Desert Springs, Wyndham Oceanside on trade with owner. Manteo Club, Sunchaser Riverside, Suites at Fisherman's Wharf,Mountainside Fairmont Hot Springs. Getaways/AC: Ridge Tahoe, The Pines at Sunriver, Eagle Crest, Sedona Summit.
RCI:Lagoon Shores at Roche Harbor, Stoneridge (Sunriver), San Luis Bay Inn, GEVC at Lighthouse Point.


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 PostPosted: Sun 27 Aug 2017 6:09 am   
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Joined: Sat 05 Sep 2009 7:00 am
Posts: 1205
Location: Richland WA - wish it was in the U.P. in the fall
excellent comments and advice, young ladies. :P

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Yooper Tom - still hanging in as a Worldmark Fan but getting a bit irritated at the bevy of changes every year reducing our freedom of usage.

Purchased original resale points late in 2008 after I retired. Added more in 2010. Added second account in 2014.

EXCHANGES - Sedona Summit, Villas at Cave Creek, Newport Coast Villas, Shawnee River Village, Welk Resort Villas, Sheraton Desert Oasis, Marriott's Grand Chateau, Sunchaser Villas at Riverside, Willowbrook at Lake Harmony (for our son), Four Seasons Residence Club Scottsdale, Westin Kierland Villas, Sedona Vacation Club at Los Abrigados, HVC at Flamingo (thanks Seth and Ann), Four Seasons Avaria, The Ridge at Sedona, Palm Canyons, Marriott Canyon Villas, Marriott Shadow Ridge Vikkages, Sheratin Desert Oasis, more to come.


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 PostPosted: Sun 27 Aug 2017 8:46 am   

Joined: Thu 19 Apr 2007 6:52 am
Posts: 1362
Location: Spokane, Wa.
Tom!! Your such a ladies man.
Ann could have started laughing and hurt herself even more


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 PostPosted: Sun 27 Aug 2017 10:01 am   
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Joined: Wed 25 Feb 2004 7:08 pm
Posts: 1752
Location: Oregon
Tom, agreed. Excellent advice. The only think I would add is that if you are renting credits in or out for a one time use, the twice amount of your annual credits you get every year is In and Out. For example: Since you have 20,000 credits, you can only rent in 40,000 credits or only rent out 40,000 credits in one transaction once per year. You can't do both as that would be 80,000 credits. You can break it up though and rent in 20,000 that year and then rent out 20,000 credits in the same year. My understanding is that you can do more than one transaction per year, it just can't total more than 40,000 either in or out if you have a 20,000 credit membership. The year is tied to your anniversary date you get your new credits. Hope that makes sense.

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KEN
Forgiveness is the gift you give your self.

Have stayed at too many to list. As of 11/14/14 we have had the opportunity to stay 233 times in our Worldmark units. We feel blessed!


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 PostPosted: Sun 27 Aug 2017 10:03 am   
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Joined: Wed 25 Feb 2004 7:08 pm
Posts: 1752
Location: Oregon
ginger4737 wrote:
Tom!! Your such a ladies man.
Ann could have started laughing and hurt herself even more


Hope Ann did not read this, she can't afford any more injuries :)

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KEN
Forgiveness is the gift you give your self.

Have stayed at too many to list. As of 11/14/14 we have had the opportunity to stay 233 times in our Worldmark units. We feel blessed!


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 PostPosted: Sun 27 Aug 2017 12:52 pm   
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Joined: Tue 11 Nov 2008 1:20 pm
Posts: 4065
Location: San Antonio, TX
sue1947 wrote:
Eric has a different definition of independent than I do. The 2 so-called independent Board members were selected by Wyndham over other candidates who received more owner votes and should have been elected (and would have been under Trendwest's voting procedure). They have voted in lock step with Wyndham throughout. Not my definition of independent.

Sue


Statements similar to the one above is actually the reason I have that signature line. When I returned to this forum in 2013ish, the rally cry was we need an "independent owner" on the BoD. Ignoring the fact that proxies assigned to the BoD are votes from owners. Just as are proxies assigned to WMO. One is an owner making a vote for the status quo, the other is an owner voting for change. Both are owners exercising their right to participate in the election process.

And Sue's observation on lockstep voting is likewise factually inaccurate on two levels. First, the two independent candidates have broken with the lockstep vote. Most notably - Cecilia on recommended increase to the minimum BT fee during the recession, and Bob when he offered to resign his seat so that the WMO candidate (Marci) could be selected to the BoD. That sounds like independence to me, but apparently Sue views it differently.

Secondly, corporate BoD's are not supposed mirror how partisan politics operate, with split votes and railing against the other side of aisle. Well-run BoD's are supposed to be united in the direction of the corporation, a process that naturally will result in proposals being offered up for a vote where there is agreement, not disagreement. Likewise if the minority can get some compromise/modification of a proposal to secure their support, why not take that direction rather than making a protest vote. As Bob Morrison has posted on FB, "politics are the art of the possible", and the Club would not be bettered served with one director constantly making protest votes.

Also keep in mind that the BoD minutes - like the minutes of most BoD's - mainly only record when they take action. It does not reflect all the discussion that takes place prior to the BoD meetings where votes are recorded.

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 PostPosted: Sun 27 Aug 2017 4:07 pm   

Joined: Tue 08 Apr 2008 7:34 am
Posts: 12039
Location: San Francisco Bay Area, CA
bauman4peace2 wrote:
anyway, let me clarify a few things...yes, I do have 20,000 credits (12k through WM, 8k on the secondary market) & have been very happy with WM....I did not go to the dinner meeting to sell, but it was a free meal to hear "an update"...their idea is to use the "savings" -- paying this company $900/year for ten years instead of the $1,400 (at least) to WM -- on similar vacations through their web site...Ive been pretty good at getting a lot out of my timeshare, but always open to more ideas (as I said earlier, I need to be on this site much much more than I have been)....a couple things:

1. I wouldn't count on getting the vacations you want from any company, as mentioned by GC. It's not they are running a scam, it is impossible for a small company to have enough inventory.

2. To reiterate, you can probably get enough money, renting out your credits to break even each year. By renting out your credits, and keeping your account, you still have access to the cash reservation options. Inventory Specials, Bonus Time, FAX time, Monday Madness, etc.

3. If you decide to keep your accounts, you may consider combining them. You will save around $160 per year. It does cost $299 to combine them, so you will only want to do this if you are keeping them for over 2 years.

4. Selling appears to be the best option, for you. Henri and others, can help you with that, with nothing out of pocket.

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Owner since May 2008
Resorts Visited: Anaheim (3), Angels Camp (2), Big Bear, Clear Lake, Coral Baja, Dolphins Cove, Indio, Las Vegas Blvd, Leavenworth, Marina Dunes, Park City Miners Club (2), Phoenix South Mountain Preserve, Pismo Beach, Rancho Vistoso, Reno (2), Seattle-Camlin (2), SD Mission Valley, San Diego, SouthShore(12), Solvang, Windsor(11), Wolf Creek (2) II: FSA (2), Grand Luxxe Nuevo Vallarta, Hyatt High Sierra(2), Hyatt Highlands Inn, Paradise Village, Marriott Grande Chateau, Marriott Grande Vista, Marriott Grand Residence, Marriott Harbour Lake, Marriott Newport Coast Villas(3), Marriott Summit Watch, Marriott Timber Lodge(17), Monarch Cabo Azul(2), Red Wolf Lodge, Ridge Tahoe(5), Ridge Sierra, Welks Northstar Lodge(6) RCI: Disney Grand Californian, Grand Mayan/Mayan Palace Riviera Maya, Grand Mayan Cabo, Grand Mayan Nuevo Vallarta, Hilton King's Land, Playa Grande, Sheraton Hacienda del Mar


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