# Have we been had?  Or is this an awesome deal?



## KnS (Jun 27, 2012)

Okay here's the deal.  We visited Villas Sol Resort in Costa Rica.  While there, they did their whole little schpeel.
My husband and I were trying to earn $100 off an excursion and so we agreed although it is out of character for us- we just said we'd go in there with ice water coursing through our veins and NOT buy.
We bought.

I feel dumb, although wondered what your opinions are on our deal- as tomorrow is day 10 and it says in the contract we have 10 days to cancel.  So any very quick advice would be greatly appreciated.  

This is what we paid:
Purchase total is $12,569. (We put 3,000 down).
Maintenance fee is about $575 (x 30 weeks of use total) is $17,250.
Closing costs were between $500- $600.
Financing charges until it's paid off roughly estimated to be $2,000-$3,000.
HSI fees are $99. after the first year, for a total of $2,900.
Broker fees to market and sell our weeks is:  $595- every 5 years (we were told the cost would be $299 for unlimited lifetime use of this service).

This is what we got:
30 - year ownership that includes:
-every other year a week in the resort at a one bedroom villa that sleeps 4 with a full time maid service that could even babysit and cook (have nothing to this effect in writing).  They said this is valued at $1750 and if we go through the broker they would be GUARANTEED to always get that price and always rent it out.  I have no paperwork indicating this.
-an extra 15 weeks of the same thing basically called coroporate weeks that can be used at anytime (essentially so that we can go every year or sell them for the same amount as above).  We pay maint. fees if the weeks are used only.
-2 bedroom villa (sleeps 6) which also includes 2 all inlcusive plans (for 2 people) and 2 dinner cruise certificates, for a total value of $3800, and we were given 2 of these for total of $7600.  (I have nothing in writing about this other than a letter that says that I have 2 all inclusive plans and 2 dinner cruise certificates).  Nothing about the accommodations!  I called and he called back right away (would he have if after the 10 days? hmmmm..)  and lo and behold their system is down so they can't email me but the IT guy is on his way over..
-HSI enrollment ( I thought they said for FREE, but we have to pay $99 per year after the first year).
-RCI enrollment (we pay $125 after first year).

This is all phrased as a ROI.. Return on Investment, not a timeshare and touted as being a wise financial decision that is going to allow us money making ability, including through HSI and RCI.  

So what are your thoughts?????  Have we been had?  Should we back out before it's too late?  It says if we do, we lose closing costs.  But, we would dispute those if we back out based on fraud.  Please send me your opinions!


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## LAX Mom (Jun 27, 2012)

Cancel immediately!! Find the instructions to rescind in the documents they gave you and follow them exactly. Get it postmarked by the deadline! 

I'm not familiar with this property, but I can guarantee you can find the same thing on ebay for considerably less $$. The price you paid is way too much!

Spend some time and research your options.

edited to add.....
Anything they told you verbally is not enforceable! Unless you have it in writing it means nothing. They will never rent your weeks for the price they quoted you. If they could rent them for that much $$ why wouldn't they just keep the weeks and the rental income? These weeks don't rent for $1,750!
Sorry, I'm at work right now and can't type a longer response. But you should rescind while you still can and do lots of research on TUG before you purchase! You'll be glad you took some time to find out what really works for your family vacations. And you'll save lots of $$ by buying resale.



> This is all phrased as a ROI.. Return on Investment, not a timeshare and touted as being a wise financial decision that is going to allow us money making ability, including through HSI and RCI.


Timeshares are not an investment!!


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## AwayWeGo (Jun 27, 2012)

*Rescinda-Sinda-Sinda.*




KnS said:


> So what are your thoughts?


Get out of it while you can. 

Nothing that the timeshare companies sell at full freight is worth the money -- & that goes for Costa Rican timeshares along with timeshares in the USA & Mexico & any other vacation spot you can think of. 

Buy timeshares resale.  Save thousands of dollars on exactly the same thing as full freight, or the equivalent, or something even better. 

-- Alan Cole, McLean (Fairfax County), Virginia, USA.​


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## T_R_Oglodyte (Jun 27, 2012)

Almost certainly a bad deal.  There is a long history of timeshare salesman spouting promises about things like their ability to rent your units for a profit that are outright lies, and as you note are not guaranteed in writing.  Meanwhile what is guaranteed in writing is what you will pay.

All you need ask yourself is that if the unit has such a great return on investment  why are they offering it to you???  Why wouldn't the developer simply rent the unit themselves and pocket the investment. In fact, the developer would make even more money than you can because then the developer wouldn't have to pay sales staff, give those attendance incentives, etc.

The reason is because all of that stuff about your return on investment is false.  The developer can't make a return on investment by renting it out, and if the developer can't do so you shouldn't delude  yourself that you can.


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## csxjohn (Jun 27, 2012)

You made way too many comments that you don't have something in writing.

Get out while you can!  You can then study and look things over.

Is this where you bought?

http://www.ebay.com/itm/Costa-Rica-...20933113715?pt=US_Lodging&hash=item1c282cdf73

$1,200 on a buy it now.


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## rrlongwell (Jun 27, 2012)

KnS said:


> ...
> 
> -HSI enrollment ( I thought they said for FREE, but we have to pay $99 per year after the first year).
> -RCI enrollment (we pay $125 after first year).
> ...



It appears from your post that you understand the risks of what you bought.  I wish you luck.  

P.S.  You might want to check out the RCI rule on renting timeshare intervals gotten through RCI.  I think you will find this is not permitted under their rules.


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## Passepartout (Jun 27, 2012)

NO DEVELOPER PURCHASE IS EVER A GOOD DEAL. RESCIND TODAY! Do it exactly as the instructions in your contract say. Usually it is buried deep in the fine print. Normally, it its to use USPS, but send it certified with return receipt.

Good Luck, and Welcome to TUG!

Jim Ricks


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## theo (Jun 27, 2012)

*Since you've asked...*



KnS said:


> <snip> So what are your thoughts?????  Have we been had?  Should we back out before it's too late?  It says if we do, we lose closing costs.  But, we would dispute those if we back out based on fraud.  Please send me your opinions!



Not a "awesome deal". Not even a good deal. If you can get yourself out, do so and do so *NOW*!

I have no idea about the terms (...or existence) of applicable rescission laws in Costa Rica. If there even are any at all, I don't know what the seller's legal obligations are to inform you of the details of same. 

With all due respect, I'm not at all clear on the basis on which you could / can just claim "fraud". You voluntarily chose to buy and you present no indication of any contractual (i.e., *written*) misrepresentations. In my opinion, you'd likely best forget about the tactic of claiming "fraud" and just get out any mutually acceptable way you possibly can. If you falsely claim fraud, the seller could (...and very well might) dig the heels in and openly challenge you to go right ahead and try to prove your "fraud" allegation. Not a desirable position for you to unnecessarily put yourself in unless there was fraud and you can actually prove it to the satisfaction of that country's "legal system" (...whatever _*that*_ may be in Costa Rica).


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## Patri (Jun 28, 2012)

I hope by now the recission is already in the mail. Surprised it took you 10 days of pondering before acting. You will sleep so much better once this is done.


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## LannyPC (Jun 28, 2012)

KnS said:


> Okay here's the deal.  We visited Villas Sol Resort in Costa Rica.  While there, they did their whole little schpeel.
> My husband and I were trying to earn $100 off an excursion and so we agreed although it is out of character for us- we just said we'd go in there with ice water coursing through our veins and NOT buy.
> We bought.
> 
> I feel dumb,



I'll echo the words of the other posters to rescind while you can.

However, without trying to rub salt in your wound, what did the salesperson(s) say to you that made you change your resolve not to buy?  What did they say to you that convince you in a couple of hours (or however long you were there) to spend tens of thousands of dollars on something you were determined not to buy?

Just curious.


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## timeos2 (Jun 28, 2012)

Just to reenforce the strong chorus - TERRIBLE "deal" - rescind! 

Please reply to all those that have posted what you decided to do.  We do care and hate to see you ripped off by this type of poor decision to buy.


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## Karen G (Jun 28, 2012)

Another vote for rescission. Do it now! You'll never have a chance again if you let this chance slip away.

As others have so eloquently stated above, this is NOT a good deal. It's a horrible deal that is based on a salesman's claims and is not even in writing in the contract you signed.


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## Cheryl20772 (Jun 28, 2012)

KnS said:


> Okay here's the deal.  We visited Villas Sol Resort in Costa Rica.  While there, they did their whole little schpeel.
> My husband and I were trying to earn $100 off an excursion and so we agreed although it is out of character for us- we just said we'd go in there with ice water coursing through our veins and NOT buy.
> We bought.
> 
> ...



Add up all those expenses for the 30 years and divide by 30.  That's what you will be paying per year for your vacations.  Is that a good deal for your family?  Can you rent similar from other owners for less?  Is this what you really want to do every year for the next 30?

I vote to get out of the contract while you can.

If you have to ask if it's a good deal, you are not ready to own a timeshare.  Get some learning and then make that big decision.


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## KnS (Jun 28, 2012)

*Thank you!!!!*

Okay, I really need to thank you all so much for convincing me to rescind.  I was strongly swaying in that direction which prompted me to post in the first place.  But, after I read your comments I was CONFIDENT that I needed to rescind.  Your advice is excellent and very helpful.

I did contact my credit card company.  They told me to first try to work it out with them.  I didn't get into it fully with them as we never began the dispute process, as I was instructed to first attempt to get out of the contract with them.  
I contacted the resort this morning.  
I also emailed several people there and I also sent a letter Registered mail with receipt and tracking postmarked today (which was counted as Day 9).  They did let me cancel the deal.  They will refund all but the closing costs of $500 within the next couple weeks.  

Thank you again for everything!  I appreciate all your advice.  Just for the record, we are intelligent, well-educated professional people.  They run a great fast-talking, smooth and well-orchestrated set-up.  I can't believe we made such a DUMB decision on a whim.  

Thanks again!  Have a great weekend.


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## Tia (Jun 28, 2012)

So long as you followed the cancel directions exactly as they outline in written contract should be fine


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## Cheryl20772 (Jun 28, 2012)

KnS said:


> Thank you again for everything!  I appreciate all your advice.  Just for the record, we are intelligent, well-educated professional people.  They run a great fast-talking, smooth and well-orchestrated set-up.  I can't believe we made such a DUMB decision on a whim.
> 
> Thanks again!  Have a great weekend.



You're welcome!  Don't kick yourselves too much.  Look how smart you are to have gotten free of this deal.  I sure wish I had found the forums in time to save us.  Now we are stuck making the best of what we bought.

Just study, study now to learn all you can.  Timesharing must be attractive to you; so keep at it until you understand what your real needs are and which product will best fit.  Then learn how the market works retail vs resale.  In most cases, resale is the best deal.  Then search the market for just the exact best deal for your family.  You should feel great about your buying decision - not wonder if it's a good deal.


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## Passepartout (Jun 28, 2012)

Now, intelligent, well educated professional people, if Timesharing still seems like something you want to use to vacation in nice, even luxurious style, at many places around the world for Motel 6 prices, stick around. Learn about the various systems. Maybe rent a few times- TUGgers always seem to have more weeks than they can use themselves.

Try out a few that can be had for pennies on the dollar.

Everyone can use a new addiction.

Jim


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## Karen G (Jun 28, 2012)

KnS said:


> They will refund all but the closing costs of $500 within the next couple weeks.


They should refund ALL the money. You rescinded within the stated rescission period. Once the contract has been rescinded, there is no more contract.  What are they possibly "closing" to charge you $500 in closing costs?  There is no more deal. There is nothing to close. They owe you $500, in  my opinion.


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## Beefnot (Jun 28, 2012)

They tried to pull a fast one on you. You are owed the $500 in closing costs, no ifs, ands, or buts, about it.


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## roadtriper (Jun 28, 2012)

STOP talking to the Timeshare salsepeople!   if you are within the recision period and followed the resicion instructions to a tee?  you are due a FULL refund and should demand the same.  stop negotiating! they are not your friends.  as mention prevoiusly  they are NOT closing anything, why would there be a closing cost of $500???  if you DID NOT follow the instructions to a tee...  enjoy your new timeshare!  whatever they told you on the phone doesn't matter!  Hope it all works out in your favor!  RT


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## theo (Jun 29, 2012)

*Maybe, maybe not...*



Karen G said:


> They *should* refund ALL the money. You rescinded within the stated rescission period. Once the contract has been rescinded, there is no more contract.  What are they possibly "closing" to charge you $500 in closing costs?  There is no more deal. There is nothing to close. They owe you $500, in  my opinion.



I do not know (or claim to know) anything about rescission laws (...or if any even exist) in Costa Rica. 
With all due respect and with no offense intended, I'm betting that you likely don't either. There may be no such laws existing at all there; a cancellation option might be _voluntarily_ offered by the developer, simply to avert any negative tourist industry publicity (...Costa Rica really and truly *loves* those U.S. tourist dollars).

It might very well be that the sellers have written in some sort of "penalty upon cancellation" clause into their sales contract which might indeed be both lawful and enforceable in *that* country. The $500 may not be specifically called "closing costs", but even if so, a "cancellation penalty" might well still be lawful there.

In short, the knowledge that many of us on TUG have about rescission laws (of widely varying duration) in the individual states here in the USA does not transfer or apply in any way to the laws of other countries. 

I hope the OP gets the $500 back; I also won't be surprised if that $500 can now simply be colored "*gone*". 
If so, $500 is a relatively small price to pay to successfully and permanently escape the much longer term consequences of an unfortunate impulse purchase hastily made while in "vacation happy mode".


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## Beefnot (Jun 29, 2012)

theo said:


> I do not know (or claim to know) anything about rescission laws (...or if any even exist) in Costa Rica.
> With all due respect and with no offense intended, I'm betting that you likely don't either. There may be no such laws existing at all there; a cancellation option might be _voluntarily_ offered by the developer, simply to avert any negative tourist industry publicity (...Costa Rica really and truly *loves* those U.S. tourist dollars).
> 
> It might very well be that the sellers have written in some sort of "penalty upon cancellation" clause into their sales contract which might indeed be both lawful and enforceable in *that* country. The $500 may not be specifically called "closing costs", but even if so, a "cancellation penalty" might well still be lawful there.
> ...



Fair point, but still A "closing cost" for something that didn't close is refundable. If the OP mischaracterized the closing cost then perhaps it will be forfeited, but I suspect that that a fast one is being pulled that a close reading of the contract will reveal.


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## LAX Mom (Jun 29, 2012)

$500 might be the commission paid to the salesman in Costa Rica. They probably just tell you it's non-refundable so he can keep the commission. Challenge them on it unless it's clear in your documents that there is a cancellation penalty of $500.

Don't take their word for anything! They can't be trusted!


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## KnS (Jun 29, 2012)

Tia said:


> So long as you followed the cancel directions exactly as they outline in written contract should be fine



There were NONE- no instructions, whatsoever!  Thank you everyone for your help!  I'll post a follow-up when there's an update.


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## rrsafety (Jun 29, 2012)

KnS said:


> I also emailed several people there and I also sent a letter Registered mail with receipt and tracking postmarked today (which was counted as Day 9).  They did let me cancel the deal.  They will refund all but the closing costs of $500 within the next couple weeks.
> .



Sorry for your troubles.

Do you have an email correspondence stating they are cancelling the deal? If so, and if you put the $3000 on the credit card, you might wish to call the credit card company _now _to let them know you have the cancellation email and inquire if the charge has been removed. If not, ask the CC company what your next steps should be if it is not removed within a certain period of time.

Good luck and please report back so that others can learn how best to approach this. Thanks.


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## theo (Jun 30, 2012)

*Credit card charge and contract execution are separate matters...*



KnS said:


> <snip> I did contact my credit card company.  They told me to first try to work it out with them.  I didn't get into it fully with them as we never began the dispute process, as I was instructed to first attempt to get out of the contract with them. <snip>



The credit card company clearly understands and acknowledges, as you must, that the issues of your contract deposit (apparently made by credit card) and the executed contract itself are separate and distinct matters and, accordingly, need to be addressed and resolved separately. In other words, contrary to how some people choose to believe in their state of wishful thinking, you can't (and you don't, at least here in the USA) just magically invalidate a lawfully and voluntarily executed contract merely by disputing the associated credit card charged-deposit, *even if* the cc company cooperates on the charge dispute. 

I hope it all works out well for you. Please report back when you see actual, verifiable confirmation that you have been released from your contract *and* have also seen your credit card deposit appropriately refunded.

That said, I'm still holding to my bet that you can color the aforementioned $500 *gone*. 
I will be delighted to be wrong and learn from your later report that I *lose* that bet.


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## AnnaS (Jun 30, 2012)

Would like to see a good outcome with this also.  Hope you get all your money back including the $500.


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## Beefnot (Jun 30, 2012)

theo said:


> The credit card company clearly understands and acknowledges, as you must, that the issues of your contract deposit (apparently made by credit card) and the executed contract itself are separate and distinct matters and, accordingly, need to be addressed and resolved separately. In other words, contrary to how some people choose to believe in their state of wishful thinking, you can't (and you don't, at least here in the USA) just magically invalidate a lawfully and voluntarily executed contract merely by disputing the associated credit card charged-deposit, *even if* the cc company cooperates on the charge dispute.
> 
> I hope it all works out well for you. Please report back when you see actual, verifiable confirmation that you have been released from your contract *and* have also seen your credit card deposit appropriately refunded.
> 
> ...



Why are you simultaneously chastising others for speaking out of turn if they dont know Costa Rica law, yet betting that the $500 is gone? Unless you know Costa Rica law, your speculation that the OP is out $500 is no more enlightened than those of us who are suggesting that the $500 is refundable.


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## theo (Jul 1, 2012)

*An observation...*



KnS said:


> <snip>  They will refund all but the closing costs of $500 within the next couple weeks.  <snip> .



TUG's wonderful "*ignore*" function in User CP (see blue bar near the top of this page) is very effective in filtering out stunningly unhelpful misinterpretations and other worthless "contributions" of substance-free (i.e., "no beef") irrelevant background noise and static, devoid of any meaningful content or actual utility. 
But, I digress...  

If you type in "Costa Rica laws" on Google, various sites and links come up which might, somewhere therein, reveal to you whether there are even any contract rescission laws in that country *at all* and, if so, perhaps provide their actual, verbatim content. Several of the links  popping up from such a Google search do overtly mention various travel and tourist issues, "gringo" traps, etc., so you *might* well find something useful and directly pertinent to your current situation there.  

With the precise wording of your contract in hand (the actual content of which *no one* else here can actually know or see), you _*might*_ well be able to find something of substance and direct application regarding your seller's previously expressed intention to not refund $500 of your purchase deposit.  

In any event, I wish you good luck. Please let us know how you make out when all is said and done.


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## Saintsfanfl (Jul 2, 2012)

That was an expensive excursion!


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## LannyPC (Jul 5, 2012)

Saintsfanfl said:


> That was an expensive excursion!



It's happened to a lot of us.  Maybe it didn't happen the way it did to the OP but a lot of us (yeah, myself included) went on a leisure trip with timeshares the last thing on our minds.  Then, we get reeled in by a tempting offer to do the timeshare tour.

Next thing you know, you're actually thinking that the salesperson is not lying and then you buy this overpriced, valueless timeshare for thousands of dollars which you could have bought for pennies resale.

Like I said, it happens to a lot of people.


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## travelplus (Jul 9, 2012)

Rescind NOW!!!!!   This is way too expensive and you only have it every other year for 30 years.  Too expensive. I will never buy directly from the developer at least in a TS. What I would have done is listen to the presentation then call up the sales number and ask the costs of foreclosed TS as well as look at Redweek.com for resales.

What  I do before any presentation is look on Redweek.com the cost to buy a unit , MFs etc. I am pretty sure you can get a yearly week in a 2 bedroom for a heck of a lot less than you paid and it wont be a 30 year promise or will it?

Good luck and I hope you learned this valuable lesson.


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