New Sheraton Flex Owner!! I'm having buyers remorse!

[stephanie smith]

DONE!!!! Thanks for everything guys!

 

[Iggyearl]

Oh Tug Gurus. A possible teaching moment for the OP, myself, and others. The OP signed a contract in Myrtle Beach, SC. She and her husband purchased a timeshare in Florida. Which rescission period takes precedence? SC is 5 days. FL is 10 days. Thanks for your responses.

 

[DavidnRobin]

Oh Tug Gurus. A possible teaching moment for the OP, myself, and others. The OP signed a contract in Myrtle Beach, SC. She and her husband purchased a timeshare in Florida. Which rescission period takes precedence? SC is 5 days. FL is 10 days. Thanks for your responses.

For VSE - the rescission period that is listed in the contract is the correct time (I cannot speak for other TS systems and their ability to align with state laws). As VSE is a large corporation and have a large Legal Dept - you can be assured that the time period to rescind is stated in the contract that was signed by the purchaser (along with a info on recession). Every SVO/VSE contract I have seen has this rescission info stated somewhere (the TS salesperson is unlikely going to show you the recession period or method w/o being asked - and perhaps even then...)

Unfortunately, many sign this contract w/o understanding the contents, and buy these VOIs without first performing minimal research. Because if they did, then they would find TUG and rescind. Luckily this is what I did back in 2005... back when @DeniseM only had 1000 posts {Go Giants!} And that was before in the day before everyone had a Smart Devices - IMO, in today's world it is inexcusable to buy a TS (luxury item) without easily searching. My friend on Kauai suggested that I search 'timeshare nightmares' when I got home after buying WKORVN OF during an SVN Preview visit at the Sheraton Poipu.

The real issue with the VSE contract that everyone should paid close attention to is the clause that states that whatever a TS Sales person verbally states to you is over-ridden by the signed contract. Meaning - that whatever recession period Sales tells you may not be correct, or that you can easily trade into WSJ, or that you can convert your SOs to SPs that easily cover the MFs, or that resales are bad because... (you get the idea...)

Congrats to the OP (@stephanie smith)

 

[dioxide45]

Oh Tug Gurus. A possible teaching moment for the OP, myself, and others. The OP signed a contract in Myrtle Beach, SC. She and her husband purchased a timeshare in Florida. Which rescission period takes precedence? SC is 5 days. FL is 10 days. Thanks for your responses.

Flex is very similar to Marriott's DC program. While the sale occurs in one state, the timeshare is registered in another. Both are land trusts registered and recorded in Florida. What happened in the old days when they were selling weeks in one state for a property in another? I have read that with Marriott, when they sell DC in Nevada (which has a 5 day rescission) they have to honor the 10 day right of rescission period since the timeshare they are selling is registered in Florida.

 

[stephanie smith]

For VSE - the rescission period that is listed in the contract is the correct time (I cannot speak for other TS systems and their ability to align with state laws). As VSE is a large corporation and have a large Legal Dept - you can be assured that the time period to rescind is stated in the contract that was signed by the purchaser (along with a info on recession). Every SVO/VSE contract I have seen has this rescission info stated somewhere (the TS salesperson is unlikely going to show you the recession period or method w/o being asked - and perhaps even then...)

Unfortunately, many sign this contract w/o understanding the contents, and buy these VOIs without first performing minimal research. Because if they did, then they would find TUG and rescind. Luckily this is what I did back in 2005... back when @DeniseM only had 1000 posts {Go Giants!} And that was before in the day before everyone had a Smart Devices - IMO, in today's world it is inexcusable to buy a TS (luxury item) without easily searching. My friend on Kauai suggested that I search 'timeshare nightmares' when I got home after buying WKORVN OF during an SVN Preview visit at the Sheraton Poipu.

The real issue with the VSE contract that everyone should paid close attention to is the clause that states that whatever a TS Sales person verbally states to you is over-ridden by the signed contract. Meaning - that whatever recession period Sales tells you may not be correct, or that you can easily trade into WSJ, or that you can convert your SOs to SPs that easily cover the MFs, or that resales are bad because... (you get the idea...)

Congrats to the OP (@stephanie smith)

Well, hopefully I did everything right and it won't be an issue. The paperwork is so much and so confusijf!! I just put the signed agreement in the letter and put our names and account number on the bottom of the letter as well.. I sent it certified and receipt of delivery requested. We also applied for the SPG AmericanExpress card and got approved, any tips on earning SPG points?

 

[jabberwocky]

Well, hopefully I did everything right and it won't be an issue. The paperwork is so much and so confusijf!! I just put the signed agreement in the letter and put our names and account number on the bottom of the letter as well.. I sent it certified and receipt of delivery requested. We also applied for the SPG AmericanExpress card and got approved, any tips on earning SPG points?

You should be fine, from peoples experiences on this board Vistana is pretty good about handling requests to rescind - I doubt they will play any games. Just don't take any of their calls or let them try to talk you into a "better deal".

 

[MattJ]

Another thing you may want to do is call VSE and let them know what you are doing. I just cancelled an upgrade in-person in Maui, but Owner Services advised that I fax the Cancellation Dept to ensure that the reservation that I had already booked for my current ownership would not be affected. Maybe I am getting different treatment as I am already an owner, it can't hurt to try.

My experience so far has been that VSE is professional and will deal with your requests. You are not the first person to rescind. They know what to do. I would love to see data on what percent they expect in terms of rescission to sales. I expect that if you demand that they accept your rescission, they will do what they can to make it efficient.

As for Timeshares sales, it's not that they all dishonest, it's just that TS are more complex products than they they want you to think. I have come to realize that TS is a big game between you and them to get the best deals and best benefits. It's all about optimizing dollars and getting satisfaction from finding the best deals. It's about planning and research and more planning (years in advance for some things). If you're interested in all that, you should take another look at TS. After all, it's vacation. It's supposed to be fun.


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[The Haileys]

We also applied for the SPG AmericanExpress card and got approved, any tips on earning SPG points?

Congrats on the SPG Amex! Consider that your silver lining. It can be quite lucrative in point earning. In the last six months, we've stayed 20 free nights on SPG Starpoints - 10 in Orlando at the Disney Swan and 10 in Hawaii, transferring to Marriott Rewards, for 5 nights in Honolulu and 5 on the Big Island, before a 7 stay on Kauai in the Westin, trading our Maui ownership. DH has three nights booked in Vegas next month, while I transferred enough points to fly to Orlando on miles. Now, we did get some pretty big chunks of points when we (regrettably) purchased our VSE weeks, but the larger number of points came from every day spending. We put everything we possibly can on our SPG Amex, then pay it all off at the end of the month. The points rack up rather quickly. We also did some home renovations, and in doing so, took out a Heloc to pay for that, but we made the purchases first on the Amex, then paid it with the loan. I manage my elderly mother's financial affairs, and pay many of her bills with the Amex, paying it back when her SS and pension checks come in.

SPG Starpoints are easily transferred to Marriott Rewards, as Marriott recently bought out Starwood. I am finding - and this may vary in other areas - that it is easier to earn Starpoints, but they go further as Marriott Rewards points, even with the 1:3 conversion rate. Starpoints also convert to Miles on most airlines at a 1:1 rate with a bonus of 5,000 for every 20,000 transferred. Even more lucrative is Marriott's vacation packages.

If you fly Delta, you will want to link your SPG with your Delta account, and earn Starpoints along with your miles. If you use Uber during a Starwood hotel stay, you will get extra points per dollar spent on rides, though I think that has been revised. And you will want to spend your way to Gold status on the Amex - I believe it's $30K per year, if not achieved through Starwood property stays. (Those of us not as smart as you, who bought our VSE week(s) direct and didn't rescind, have Gold status as a benefit of that ownership, at least for now.)

The SPG Amex is one of the higher rated cards by The Points Guy, who estimates it's point value at 2.7 cents. It's a good card to have, and I am sure others will chime in on creative ways to earn points too. You can try searching the forum for "Amex" to see if older posts can help out too.

 

[stephanie smith]

Congrats on the SPG Amex! Consider that your silver lining. It can be quite lucrative in point earning. In the last six months, we've stayed 20 free nights on SPG Starpoints - 10 in Orlando at the Disney Swan and 10 in Hawaii, transferring to Marriott Rewards, for 5 nights in Honolulu and 5 on the Big Island, before a 7 stay on Kauai in the Westin, trading our Maui ownership. DH has three nights booked in Vegas next month, while I transferred enough points to fly to Orlando on miles. Now, we did get some pretty big chunks of points when we (regrettably) purchased our VSE weeks, but the larger number of points came from every day spending. We put everything we possibly can on our SPG Amex, then pay it all off at the end of the month. The points rack up rather quickly. We also did some home renovations, and in doing so, took out a Heloc to pay for that, but we made the purchases first on the Amex, then paid it with the loan. I manage my elderly mother's financial affairs, and pay many of her bills with the Amex, paying it back when her SS and pension checks come in.

SPG Starpoints are easily transferred to Marriott Rewards, as Marriott recently bought out Starwood. I am finding - and this may vary in other areas - that it is easier to earn Starpoints, but they go further as Marriott Rewards points, even with the 1:3 conversion rate. Starpoints also convert to Miles on most airlines at a 1:1 rate with a bonus of 5,000 for every 20,000 transferred. Even more lucrative is Marriott's vacation packages.

If you fly Delta, you will want to link your SPG with your Delta account, and earn Starpoints along with your miles. If you use Uber during a Starwood hotel stay, you will get extra points per dollar spent on rides, though I think that has been revised. And you will want to spend your way to Gold status on the Amex - I believe it's $30K per year, if not achieved through Starwood property stays. (Those of us not as smart as you, who bought our VSE week(s) direct and didn't rescind, have Gold status as a benefit of that ownership, at least for now.)

The SPG Amex is one of the higher rated cards by The Points Guy, who estimates it's point value at 2.7 cents. It's a good card to have, and I am sure others will chime in on creative ways to earn points too. You can try searching the forum for "Amex" to see if older posts can help out too.

Wow, that is amazing!!!! We will for sure reach 30K a year.. this is so exciting! Thank you for all the Info!

 

[TUGBrian]

congrats on finding TUG in time to save tens of thousands of dollars!

 

[LisaRex]

Congratulations on rescinding. IMO the Vistana timeshares work best for people who like to stay for one week and who can plan at least 12 months in advance. I'd look at other options, such as renting condos or AirBnB.

 

[bradfordHI]

Do what you think is right.
I own developer and resale. Developer points work better but resale can be cheaper but I am about to post something on the right message board that pertains to the exchange companies seeing resale and developer as totally different.

 

[DavidnRobin]

Do what you think is right.
I own developer and resale. Developer points work better but resale can be cheaper but I am about to post something on the right message board that pertains to the exchange companies seeing resale and developer as totally different.

Confused? What does 'Developer points work better' mean?
Are you saying VSN StarOptions from Developer are better than resale?



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[dioxide45]

Confused? What does 'Developer points work better' mean?
Are you saying VSN StarOptions from Developer are better than resale?



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I think they are referring to this thread.