How Wyndham's Ovation Timeshare Exit Program Works
Since 2015, the Ovation program allows timeshare owners several ways to return their timeshare back to Wyndham. Over 12,000 have used it since the program debuted. Many have had positive results but others have had mixed results.
Not all owners will qualify, such as those who have not paid off their mortgage or belonged to other timeshare clubs that were subsequently bought by Wyndam. The company also prioritizes the inventory that it is willing to take back into the system. Certain areas are saturated, so the location of your timeshare is important.
The process can take anywhere from three to six months dependent on how quickly Wyndham can address the process on their end (due to a high volume of return requests) and how quickly the county where the property is located respond to Wyndham's request for a new deed. Some owners that have used this have had to wait up to six months.
During the waiting period, all maintenance fees and any Special Assessments are ongoing. So, you make the payments.
They offer the use of the returned points on an annual basis with no fees, monthly maintenance, booking, housekeeping, or Special Assessments for a three-year period. When Wyndham receives the deed from the respective county, a new contract and associated number will be issued allowing owners to continue use of the points for three years. During that time, it is required that any reservations are made through their office as online access and booking will no longer be available.
Wyndham will refer owners to viable companies with proven success to sell the timeshare. This is the least popular as most owners have already tried to sell the timeshare. Also, there are many scams out there regarding the sale of a timeshare. Selling can take up to a year to finish the transaction.
To Be Clear
The Ovation program does not return your financial investment to you (as if you had sold it to another) but allows you to stop paying the maintenance fees and ownership. Wyndham will take your timeshare and resell it.
This article is accurate and true to the best of the author’s knowledge. Content is for informational or entertainment purposes only and does not substitute for personal counsel or professional advice in business, financial, legal, or technical matters.