# Help! How many days to cancel the contract???



## hajjah (Jul 24, 2007)

Sorry, but I'm at the Library next door to Summer Bay and only have 30 minutes.  I met a teacher here from D.C. yesterday who was happy about the unit she'd purchased on Sunday for $13,000.  It's for points.  I don't remember how many.  Anyway, I met her in the gym. When I told her about TUG and buying resale, she wanted to cancel the contract.  We left the resort and came here to the Library so I could show her better than I could tell her about the resale market.  I went on Bidshares.com and saw quite a few units.  One ad was for a two bdrm unit at $795.00!  I also showed her units on Ebay and HolidayGroup.  She printed out the pages and had to leave to checkout of the hotel.  I advised her to cancel the contract before leaving Orlando.  She was on her way to Ft. Lauderdale as a second part of the timeshare promotion fiasco.  

About an hour later, I phoned her only to find out that when she went back to the salesman and showed him the copies from the internet, he told her that the units selling on the internet were only for a year's usage and that her points would expire after they were completed!!!  I then advised the lady that the man lied.  How would the points be finished with no future possibilty of usage?  I told her again to cancel the contract. She was advised initially by Summer Bay that she had 10 days to cancel.  A friend mentioned today that in FL the right to rescind is only 3 days.  Which is correct?  The teacher is now planning to cancel the contract when she gets home.  I would never have left here without signing those documents back over to Summer Bay.

How much time does she really have?  I will call her on the cell.


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## Art4th (Jul 24, 2007)

Unless it's changed recently, you have 10 days to rescind in Florida.


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## rickandcindy23 (Jul 24, 2007)

Hajjah, you are very kind to stop this woman from making a big mistake.  She still does have time.  I am really angry that the salesperson would lie like that, when confronted with resale prices.   That is enough reason to complain to the BBB and anyone else who will listen.  

Summer Bay salespeople are very pushy, according to Gary who posts here all the time.   I hope she is able to cancel successfully.  It will take a letter sent return receipt requested.  She needs to make sure they sign for the letter and she gets the proof back.  

RCI points will not transfer in a resale purchase.  The salesperson is right about that.  If it's points you want, there are lots of opportunities for buying RCI points that are very reasonable.  First she needs to cancel, then she should come here and ask questions about points.  

Good job, Hajjah.


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## Timeshare Von (Jul 24, 2007)

She would be best served to read her contract very closely to be sure she knows what the timeframe and requirements are to rescind.


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## sfwilshire (Jul 25, 2007)

rickandcindy23 said:


> RCI points will not transfer in a resale purchase.  The salesperson is right about that.



Are you talking about Summer Bay specifically here? For most resorts, according to Madge, they do. It's only a few resorts that have refused to play nice.

Sheila


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## riverdees05 (Jul 25, 2007)

Be sure that she sends the letter certified or registered mail with a return card receipt.  Keep a copy of the letter and attach it to the USPS receipt and the green signed card when it is returned.  Also, as mentioned read the contract and recend exactly as spelled out in the document.


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## rickandcindy23 (Jul 25, 2007)

sfwilshire said:


> Are you talking about Summer Bay specifically here? For most resorts, according to Madge, they do. It's only a few resorts that have refused to play nice.
> 
> Sheila



Summer Bay and PAHIO are two of the only resorts that do not allow points to transfer with the sale.


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## hajjah (Jul 25, 2007)

I'm back at the Library and I am confused.  You mentioned that Summer Bay- FL does not allow points to transfer with the sale? What does this mean?  I have seen many units on Ebay and other websites selling Summer Bay units that are points.  Also, does this apply to Las Vegas?  Many of us recently bought units on Ebay at SBLV.  If the unit is already in points how would this effect the new buyer?

What I really don't understand is the salesrep telling the lady that once she uses her points, if buying via the internet, the points are depleted and she gets no more.  What is this all about?  I think she should still cancel if she has 10 days as some of you have said.  
Thanks so much!!!


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## janapur (Jul 25, 2007)

hajjah said:


> I'm back at the Library and I am confused.  You mentioned that Summer Bay- FL does not allow points to transfer with the sale? What does this mean?  I have seen many units on Ebay and other websites selling Summer Bay units that are points.  Also, does this apply to Las Vegas?  Many of us recently bought units on Ebay at SBLV.  If the unit is already in points how would this effect the new buyer?
> 
> What I really don't understand is the salesrep telling the lady that once she uses her points, if buying via the internet, the points are depleted and she gets no more.  What is this all about?  I think she should still cancel if she has 10 as some of you have said.
> Thanks so much!!!



Summer Bay Las Vegas points do transfer. I have purchased several weeks on ebay.


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## hajjah (Jul 25, 2007)

Can someone explain this a little further for me?  If a person buys a resale unit at Summer Bay-FL, that is already in points will they have a problem using the points?  I've seen several units for sale at SB.  I am still confused and only wish to help the lady who signed the contract here on Saturday.


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## rickandcindy23 (Jul 25, 2007)

Hajjah, someone posted a while back about their resale attempt to get the points transferred into their name.  The resort was going to charge more than $5K, I believe.  I will look for the thread and post a link for you.


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## rickandcindy23 (Jul 25, 2007)

See Post #11 here:

http://www.tugbbs.com/forums/showthread.php?t=32536&highlight=summer+points

We own at PAHIO in Princeville, HI, and bought two different weeks that were sold originally as RCI points, and the resort would not allow the points to transfer in the sale.  I don't really care that much, because we don't deposit those weeks, but still, what a rotten deal for the original owners because their timeshare values were much lower because of this.  The salespeople are selling points during those presentations more than anything else, then the seller cannot brag that up to resell.


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## hajjah (Jul 26, 2007)

Cindy:  Thanks so much for the link. I'll have to read this in more detail when I return from SB.  At this point, I would advise the teacher to cancel that contract she signed last Saturday and buy one of the weeks advertised on Bidshares.com or Ebay.  I think they were for weeks.  I'll have to check again to see if any were for points.  What you stated about SB not allowing the transfer of points is now clearer.


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## brucecz (Jul 28, 2007)

It is very simple if she wants RCI Points.

Have her cancel the contract and then follow the RCI Points completed sales on ebay for just 2  weeks.

She will be able to find a resale RCI Points ownership that will save her at least $10,000. in up front costs and have a on going lower cost per RCI Points in maintenance fees.

I ran into a similar situation with one of my renters that saved them about $10,000. 

After they recinded the sales lairs in the IL. sales center told them so many lies that they confused them again.

But a differant Tugger straightened them out.

People after being conned and lied to by the sales slimeballs have a hard time beliving that you can get the same exact product for  65%  to 95% less as a resale.

Bruce   



hajjah said:


> Cindy:  Thanks so much for the link. I'll have to read this in more detail when I return from SB.  At this point, I would advise the teacher to cancel that contract she signed last Saturday and buy one of the weeks advertised on Bidshares.com or Ebay.  I think they were for weeks.  I'll have to check again to see if any were for points.  What you stated about SB not allowing the transfer of points is now clearer.


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## brucecz (Jul 28, 2007)

janapur said:


> Summer Bay Las Vegas points do transfer. I have purchased several weeks on ebay.



So do I own there.

 Just show her those completed resales during the last month at Summer Bay in Las Vegas and the money she can save by cancelling and then buying resale to get into RCI Points.

Bruce


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## hajjah (Jul 31, 2007)

Guess what?  After attempting to help the teacher I met last week at Summer Bay, she did cancel the contract.  I did not hear from her since she left Orlando last Sunday.  I left a message earlier in the week and got no reply.  I also sent a few emails.  So, today I called again to remind her that today was the final day to cancel the contract.  Well, the lady told me that she did cancel SB, but after leaving Orlando and going to Ft. Lauderdale for the second part of the timeshare promotion, she bought 82,000 points at Vacation Village at Weston for $12,000, *every other year!!!  *The resort threw in a bonus week to be used every year.  I figured that there was no point in bursting this ladies' bubble.  She really thinks that she got a great deal.  I'm finished trying to help folks save money.  Some people just refuse to listen and would rather buy from the developer.  Just wait until the lady tries to use that so-called bonus week.


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## Blondie (Aug 1, 2007)

WOW- any how many times have we heard stories like that on Tug?  Some people have more money than brains. Or, they have no brains and NO money now. That place is available on every exchange list for FLa you can get with even the weakest trader.  Dumb, Dumb.  As they say- no good deed goes unpunished.


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## rickandcindy23 (Aug 1, 2007)

That really is a shame, bcause with RCI, a point really is a point; there are no differences in points.    Her maintenance fees will be pretty high, too, being in Florida.


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## mechael (Aug 17, 2007)

I need some help here.  I found myself fallen into the same trap like the teacher did, but I'm in a deeper trouble.  Here's what happened:

I'm from Vancouver, BC.  I got married last month, my wife and I flew to FL for our honeymoon.  Sure enough, we went to a couple of timeshare presentations to cut some cost for our accommodations and tickets.  Finally we landed in Summer Bay for a presentation.  As you can imagine, being in honeymoon, being able to travel all over the world every year seems like a dream to us.  After about 2 hours of discussion and thinking, we were convinced by the sales that they it would be a nice purchase.  We signed the contract for purchasing a unit for $10000. Every other year, and 49000 points.  

We did ask them about resale market but they told us that only buying from them will get recurring RCI points.  They also didn't mention to us about the 10-day cancellation period.

When we got back, we had time to do some research and we figured that we can buy a RCI unit for a fraction of the cost!!!!  We were shocked, because if we had known about the 10-day policy, we would have gone to an internet cafe and did the research and canceled it right then..  

Now I think they lied/mislead us in 2 areas: 
1. Resale market: from what I read here, seems like the RCI and membership is transferable, is that right?
2. 10-day cancellation period: they didn't give us this option to consider.  Is that against the law, and is there enough ground to cancel the contract at this point?  

We've purchased the unit for about 6 weeks now, but we've only paid the down payment.  What do you think we can do???

Please help!!!


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## Shamrock (Aug 17, 2007)

I feel really sorry for people like you that purchase something and have regrets afterwards, I did this myself two
years ago and I also paid a lot more money. I doubt very much if you can do anything about it now, considering its 6 weeks since your purchase, you could threaten to take them to court and since you have the forms signed, you probably will not get on too well in court,as it *will * state in the contract about the 10 day rescind. You may not have paid that much less resale anyway ? My advice ( If you can't rescind etc.) would be to enjoy what you have, and after being on a vacation using your purchase, it will be much easier. I have been on 5 vacations, stayed in first class resorts, and saved a
lot of money on accomodations in the last 2 years. I even have made another purchase this year. Go ahead and *enjoy* Best of luck.


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## rickandcindy23 (Aug 17, 2007)

Mechael, use the heck out of the points you purchased.  You can get 7,500-9,000 point vacations and take great advantage of the system.  That is your revenge.   Use it as much as you can.  You really didn't get soaked all that bad, when you consider you can have 5 week-long vacations for your points.


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## mechael (Aug 17, 2007)

Thanks guys for soothing me.  Squeezing 5 weeks of vacation out of it sure sounds good, but I only get 2 weeks of vacation per year, that's not much I can do.  We also have to take airfare into the equation too.  It's not very often I can take more than 2 weeks of holiday..  Besides, since we've just got married, we're pretty tight on cash flow.  We're in need of a car too.

Since I've just paid the down payment, if I just forfeit the down payment and walk out of it, I'd be losing $1000 only (provide they let me choose this, of course).  If I can find another RCI timeshare that is cheaper, then I'd still be better forfeiting the down payment, is that right?  

If I'm looking for an every-other-year, ~50000 RCI point timeshare unit, what kind of prices I'm looking at in a resale market?

Also, is it by law that they have to mention verbally the 10-day cancellation period?  If they didn't mention it during the sale process, can I use this as a ground to cancel the contract after 10 day?

Thanks.


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## brucecz (Aug 17, 2007)

When not including closing costs about $10 to $2,500. depending on maintenance fee costs.

Bruce   



mechael said:


> Thanks guys for soothing me.  Squeezing 5 weeks of vacation out of it sure sounds good, but I only get 2 weeks of vacation per year, that's not much I can do.  We also have to take airfare into the equation too.  It's not very often I can take more than 2 weeks of holiday..  Besides, since we've just got married, we're pretty tight on cash flow.  We're in need of a car too.
> 
> Since I've just paid the down payment, if I just forfeit the down payment and walk out of it, I'd be losing $1000 only (provide they let me choose this, of course).  If I can find another RCI timeshare that is cheaper, then I'd still be better forfeiting the down payment, is that right?
> 
> ...


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## Dave M (Aug 18, 2007)

mechael said:


> Also, is it by law that they have to mention verbally the 10-day cancellation period?  If they didn't mention it during the sale process, can I use this as a ground to cancel the contract after 10 day?


There is no such requirement for a verbal mention of your cancellation rights. Florida law requires that the notification be near the end of the contract you signed. Period.

Shame on you for not reading and understanding everything in the contract before signing or secondarily, as soon as you returned home. Conversely, lucky you because you can enjoy some great vacations!


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## mechael (Aug 18, 2007)

Our vacation was 15 day long, and when we arrive home, it was already passed 10 days.


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## sfwilshire (Aug 18, 2007)

We all make bad financial decisions through life and this was one. I'm sure you won't make the mistake again of making a major purchase without lots of research and reading everything you sign. Maybe that will save you from a greater loss in another situation.

Move on and enjoy your future vacations. At least you bought at a very nice resort.

Sheila


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## Shamrock (Aug 18, 2007)

mechael said:


> Thanks guys for soothing me.  Squeezing 5 weeks of vacation out of it sure sounds good, but I only get 2 weeks of vacation per year



The day will come PG that you will be able to take 5 weeks, I
know it probably seems a long time away now, but you'll be really glad then:whoopie:


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## theo (Aug 18, 2007)

Re: >> Also, is it by law that they have to mention verbally the 10-day cancellation period?>>  

No. It's already "mentioned" right there, in writing, within the contract document itself (....which you signed).

Re: >>  If they didn't mention it during the sale process, can I use this as a ground to cancel the contract after 10 day? <<  

No ---exact same reason as stated above. 

As others have advised, at this juncture your one and only option is to attempt to extract maximum value from your (now concluded) purchase. Take solace in the fact that you join a long line of folks who have made similar mistakes. Human error and oversight happen --- only doing it AGAIN can rightfully be called stupidity. Make the best of it and enjoy.


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## rickandcindy23 (Aug 18, 2007)

We know a couple that cannot attend a timeshare presentation without buying.  They knew before their first presentation that we were saving a bundle by buying on the resale market; we advised them not to buy from a developer EVER.  They now own four weeks, all purchased from a developer, and all price over $20K, though who knows how much over because they won't say.

Anyway, long story short, their debts have now forced them into bankruptcy and perhaps a divorce.


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