Rescinding Wyndham TS Purchase - Question

Hello!

We just purchased our TS through Wyndham - Glacier Canyon in WI Dells on Saturday, 4/16, and after a thorough review of both our budget AND the information here, we have decided to cancel. I see a lot of old threads on cancellation, but wanted to check in and see if anyone has any advice, or could just confirm for me what's necessary.

Per our WI contract, we have 5 business days to cancel (copied from http://datcp.wi.gov/uploads/Consumer/pdf/timeshare_details.pdf):

YOU MAY CANCEL IN WRITING ANY CONTRACT FOR THE PURCHASE OF A TIME SHARE, WITHOUT ANY PENALTY OR OBLIGATION, WITHIN 5 BUSINESS DAYS FROM THE DATE YOU SIGN THE CONTRACT OR UNTIL 5 BUSINESS DAYS AFTE YOU RECEIVE THE TIME-SHARE DISCLOSURE STATEMENT, WHICHEVER IS LATER. IF YOU SO CANCEL THE CONTRACT, YOU ARE ENTITLED TO RECEIVE A FULL REFUND OF ANY DEPOSITS MADE, EXCEPT, IF YOU HAVE USED OR OCCUPIED THE TIME- SHARE PROPERTY FOR MORE THAN 12 HOURS, THE MANAGING ENTITY OR CAMPGROUND OPERATOR MAY SUBTRACT FROM DEPOSITS MADE A REASONABLE CHARGE TO COVER THE LENGTH OF STAY PLUS THE COST OF DAMAGES TO THE TIME-SHARE PROPERTY DIRECTLY ATTRIBUTABLE TO YOU OR ANY MEMBER OF YOUR PARTY.

I need to double check my contract for Wyndham's requirements, but I recall it just said to send a letter to an address in FL without specifying what details to include in the letter.

Thanks much for any help.

Sarah & Tim

This short article has a sample letter:

http://tug2.net/timeshare_advice/cancel_timeshare_purchase.html

Every state is different but you should find the rescision clause in your purchase and sale agreement immediately above the signature block

As you say the address will be there as well. There are no more specific requirements for your letter than what's in that rescission clause. I'd say something like this "I hereby rescind the contract made on (date)and signed at your sales office at (resort) identified as. Contract number xxxxx please return any deposits made to us at this address. And then sign it. If two of you signed the contract both should sign the rescision letter and then send it to the specified address.

Thank you both so much! We're excited to have found this group and hope to be able to purchase in the future, or at least help out some other TS owners by renting from them.

Sending everything out today.

The contract says "Should Buyer elect to cancel as provided in lines 135-141 of this Contract, cancellations should be sent to Wyndham Vacation Resorts, Inc., Attention: Account Servicing Operations - Rescission Department at P.O. Box 94443, Las Vegas, Nevada 89193 or 10750 West Charleston Boulevard, Suite 130, Las Vegas, Nevada 89135."

There are no further instructions, so I will just keep the letter short and simple, and mail a copy to the PO box, but mail the owner materials and books along with the letter to the office address.

It doesn't state to send any particular way, so I'll use USPS certified mail.

Thanks again!

Sarah (& Tim)

One more question: Should I send all of the contract documents (disclosure statements, copies of contract, etc) that we received or should I just send the new owners bag? I feel like it's important for me to keep the documents they gave us as they relate directly to our purchase.

Thanks,
Sarah

I would just include a copy of the signature page with the rescission for identification purposes. Write on the letter that 'Promotional Materials to be returned under separate cover', then send the junk back to the resort where you got it by cheapest means. I don't see anything to be gained by sending back anything written on that any identifiable link to you. The business office doesn't want the bag of stuff.

Jim

Passepartout said:

I would just include a copy of the signature page with the rescission for identification purposes. Write on the letter that 'Promotional Materials to be returned under separate cover', then send the junk back to the resort where you got it by cheapest means. I don't see anything to be gained by sending back anything written on that any identifiable link to you. The business office doesn't want the bag of stuff.

Jim

Click to expand...

Great idea. Thanks!