What terms do you use to transfer points?

[lafogg]

If you transfer points, do you require payment in full first? I'm considering a transfer transaction, but I want to make sure on the off chance of someone being dishonest I am covered. What are the typical requirements people use to transfer? Do you require full payment first or a deposit? Thanks.

 

[lark]

Transfers are a bit different than rentals, since once you transfer the points, they are gone. Still, if it's to a legitimate DVC member with a decent number of postings on disboards, it's hard to imagine it being a scam. The deadbeat payer seems more likely. Still, the safest way might be to use a company like escrow.com, which will take the money from the buyer, but not transfer it to the seller until the deal has been completed. I think it's usually used for goods auctions, but I think they would probably do timeshare rentals or points transfers too.

Redweek.com provides escrow services for timeshare rentals, underwritten by first american title. You may want to look into this. It's pricey though -- 10 percent or so.

Caveat: I don't know the terms used by either of these companies. They might be renter friendly or owner friendly. You'd want to do your own due diligence.

If it were me, I'd probably just get a bunch of info from the person buying my points -- home address, phone number, etc. I'd probably do terms like: You pay half up front, I'll transfer all the points, and then you pay the rest. That way, both of you are taking a 50 percent risk. Probably depends on the amount of money involved too.

 

[lafogg]

Thanks so much, lark. I'm new to this, so I appreciate the advice.

Leslie

 

[Sandisw]

Just remember that it is technically against DVC policy to accept money for transfers so any mention of that during the call with MS will prevent things from happening.

 

[Tamar]

Not that I would ever do this, but if I did transfer points to another member for money I'd ask for 1/2 the money before the transfer and 1/2 after, so that the risk (small though it is) is shared.

 

[lafogg]

Thanks for the good advice.

Leslie

 

[DVCJones]

I have bought transferred points three times. Each time I used Paypal to pay the other DVC owner AFTER the points were in my account.

The other owners actually preferred this. I don't know why...I know I was very happy about it I was nervous about losing my money.

 

[bookwormde]

When I have transferred in I have allways done 1/2 before and 1/2 after the points are in my account.

bookwormde

 

[Brian Noble]

Before Wyndham eliminated the possibility of points transfer, it was standard practice amongst owners there to pay in full for the points (with something like Paypal via credit card) first. The transferor can't get the points back if something goes wrong, but the transferee can always dispute the charge if they get stiffed.