# Quick! Need help! I think I’m an idiot!



## MicHael Moore (Nov 21, 2019)

Please don’t judge. Impulse buy with contract signed Monday night. In Oregon so 5 day cancellation.  Want to get rescind letter postmarked by tomorrow if I hear what I expect to hear. Honesty is appreciated. 

My wife and I signed up for a modest package at a Worldmark talk in Portland, OR. We live near Portland so seem to be plenty of driveable spots in WM.  details below

1 - Just under $20K total, 10000 points with 10000 bonus points to be used within 12 months.  Paid fully, no financing.

2 - Maintenance fees $83/mo, roughly $1000 per year. Was told that rates increase less than 5% per year. That was not comforting but I conveniently ignored it after a bit. Long term, this level of increase would be brutal.

2 - 8d/7nt trip for attending the talk

3 - 4 RCI weeks as a “bonus” able to use in any amount of time as they say they will reissue if not used in first 1-2 years

I knew nothing of the secondary market until after the fact bc (as stated above) I’m an idiot.  One of the rare times I didn’t over research beforehand.

Financially this won’t hurt us but definitely do not want to overpay as our main point is to force us to vacation more (something we did greatly before baby life began). 
Loved idea of Last calls, bonus time, etc. I was told there is no need to exchange points in accessing the BT and LCs. 
Also attended a talk about VI/II and liked what we heard about the cash rental options. 

Overall just want to be sure I am not overpaying which I assume I am.  Brutal honesty please.


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## DaveNV (Nov 21, 2019)

You're paying monstrously too much.  I bought 12000 credits on the resale market for $1500.  Rescind NOW, while you can.  Do your research.  And then, if you decide the Developer deal is the best fit for you, you can buy it again. (It won't be - there is nothing they offered you that is worth that kind of money.)

Follow the directions in the documentation they gave you, and do not speak with anyone. They will only try to talk you out of it.

Good luck!

Dave


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## clifffaith (Nov 21, 2019)

Whichever way you decide, Worldmark is a great timeshare system for those of us in the west.


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## MicHael Moore (Nov 21, 2019)

Appreciate that and I if I rescind I will certainly buy points off the secondary market. If I do buy points apart from the developer I just want to make sure I get access to unlimited last calls and ideally bonus time.


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## DaveNV (Nov 21, 2019)

To follow on:  

Maintenance fees are based on the amount of credits you bought.  So $83/month for 10K credits sounds about right.  Yes, the rates are capped at 5% increase annually.  Always expect the increase - that's how timeshares work.

The 7 night trip for attending the talk has variable value, depending on when/where, how big a unit they let you book into.  If you get a studio in mud season at a ski resort, it's not worth the paper it's printed on. 

RCI bonus weeks are leftovers after the cream has been taken.  Usually they're last minute availability at limited locations.  Might be worth a few hundred dollars each, max.

Last calls, bonus time, II cash options are available to everyone.  They can add great value to things.  I use them a lot.  (Monday Madness is a great WM feature.)

Don't get me wrong - WorldMark is a good system. I owned Weeks timeshares for years, and sold everything expressly so I could buy WorldMark.  I like it quite a bit.  But I'd never pay $20K for what you were sold.  Please, rescind right now.

Dave


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## DaveNV (Nov 21, 2019)

Last Calls is an RCI term.  Once you own a WorldMark account, you can join RCI. It's a separate membership from WorldMark (they're a different company), and costs ~$100 a year. Once inside RCI you can get Last Call weeks as often as you want.  However, they're not free:  There is usually a fee of a few hundred to many hundreds of dollars to buy a Last Call vacation. If memory serves, Last Call vacations are within a 45-day window from today's date.  RCI also has Extra Vacations, also available for cash, that can be months ahead of time.  But they also have fees attached.  Nothing RCI does is free - there is a fee for just about everything.

Dave


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## MicHael Moore (Nov 22, 2019)

Thanks friends! Rescission letter being sent in today. Appreciate the help. 

I am eager to acquire some points or other TS access to begin trying out the process but much easier pull to swallow when I might be able to get rid of the points/weeks/MFs at a reasonable loss. 
Any thoughts on good links for TS beginners, and also links to info on how to navigate the secondary market and assess who is posting a reputable resale value scams.  I’ve read about packages being fully loaded and, to be honest, not sure what all that entails and how to see if a package is loaded.  Thanks again for all the help. Catch y’all in Bali!


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## silentg (Nov 22, 2019)

Join tug best $15 you will spend. Read and learn all about timeshares before you invest .
Good Luck!


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## samara64 (Nov 22, 2019)

MicHael Moore said:


> I am eager to acquire some points or other TS access to begin trying out the process but much easier pull to swallow when I might be able to get rid of the points/weeks/MFs at a reasonable loss.



Try https://www.wmowners.com/forum/

There is a membership for sale section there. Lots of info as well.


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## HudsHut (Nov 25, 2019)

I'm glad you found TUG in time, MicHael.
Every WM member has access to bonus time, Inventory special, Monday Madness, (various cash rental options, so you don't need a huge number of credits to start out.)
If you choose to join RCI or (its competitor, Interval International), you will have access to countless more cash rental options. Some are great deals, some are not so great. But they're "options".  
You are welcome to join us at wmowners.com/forum/ for further info.


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## sparty (Nov 27, 2019)

HudsHut said:


> I'm glad you found TUG in time, MicHael.
> Every WM member has access to bonus time, Inventory special, Monday Madness, (various cash rental options, so you don't need a huge number of credits to start out.)
> If you choose to join RCI or (its competitor, Interval International), you will have access to countless more cash rental options. Some are great deals, some are not so great. But they're "options".
> You are welcome to join us at wmowners.com/forum/ for further info.



Don't forget about Fax time too - if you read the rules on Fax time carefully there might be benefits.  I've been using a fair amount of fax time lately.


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## pedro47 (Nov 27, 2019)

First, You are not an idiot. Please rescind the contract ASAP.  Do not wait. Do it "Now."
Please follow all the steps to rescind and keep a copy for your records.  Good Guy.


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## MicHael Moore (Nov 27, 2019)

Contract rescission letter was sent on Thursday of last week. Three days post signing so should be good. Have not gotten confirmation of it yet but it was delivered. Thanks for all the advice.


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## MicHael Moore (Dec 2, 2019)

Does anyone happen to know if having a rescission letter mailed certified prior to my cancellation window closing is sufficient to cancel my account even if it had not been received by corporate within the window? 

I ask bc we signed our contract on the 18th and sent a rescission letter on the 20th. The letter was certified and postmarked in the 20th and they said the letter should arrive in two days. Letter was sent from Portland, OR TO Wyndham Resort Developent Corporation in Orlando. My wife did not overnight it by it should not have been a problem. Unfortunately the usps and weather became an issue and the letter appears to have been delayed and delayed.  It appeared to have been delivered on the 28th. Obviously I ya e received no correspondence since then and can not get through to corporate. Stressing a bit. Obviously it was out of my control but not sure how well that will fly with them or legally. 

the contract said we had five days to send a rescission letter and could mail it to the developer or developers agent at one of two addresses. We sent it to the first one listed (a P.O. Box). We should have sent it to both and to the local office but we went with the first listed option. Stupid but reality. Thoughts?


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## sue1947 (Dec 2, 2019)

The arrival date doesn't matter.  The only date that matters is the postmark date.  You are ok and can stop stressing.  Don't call and don't expect any contact from them.  The rescission will be processed.


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## Tacoma (Dec 2, 2019)

Take time to learn about all of the advantages of worldmark. If you need more points one year your can rent in up to twice your account size each year. Can't vacation you can rent out your points to others. Monday madness vacations you don't pay HK so I often try to get my 1-3 night rentals this way. Is worldmark perfect no- but it is by far the best most flexible timeshare that I own.
Joan


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## geist1223 (Dec 2, 2019)

In almost every Jurisdiction in the USA the day of Mailing is counted as the day of receipt.


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