# Got sucked into buying a TS and would like to know if I made the right decision!



## Ant (May 17, 2018)

Hello Everyone! 
 So I was in Florida with my family this pass week, at the Holiday Inn Orange Lake Resort, when I got sucked into doing a supposedly 90 minutes TS, that turns into 5 and half long hours. Me and my girl thought we had a good deal, until I start doing some research when we got back, and stumbled across tug and those reviews that I’ve read so far, just make me want to call the whole things off!!!

 Although we were promised a bunch of things, as far as having the TS for life, with the deed send out to use when we’re almost done with the payment and be able to pass it down to our 3 boys in the  future and they can also do the same once they have children on their own. I’m still kind of skeptic about the whole thing. 

 The TS is 85,000 points for $15,000 and of course I don’t have that kind of money just laying around, so we have a 10 Year loan through them, We can travel to anywhere around the us and aboard as long as we have enough points, which replenish every January, all we’ll have to do is make monthly payment and also pay the MF of $800+ each year, and if don’t travel each year and don’t use our points, we can transfer them to IHG which they never expired and we can also, use those points on airfare, car rental and cruises. I was also contemplating of opening an IHG credit to get more points.

We have no experience whatsoever with TS and would like some knowledgeable advice please!


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## AwayWeGo (May 17, 2018)

Get out of it while you can -- if you still can.  

Nothing that the timeshare companies sell at full freight is worth the money.  

Buy timeshares resale.  Save thousands 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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## Panina (May 17, 2018)

Ant said:


> Hello Everyone!
> So I was in Florida with my family this pass week, at the Holiday Inn Orange Lake Resort, when I got sucked into doing a supposedly 90 minutes TS, that turns into 5 and half long hours. Me and my girl thought we had a good deal, until I start doing some research when we got back, and stumbled across tug and those reviews that I’ve read so far, just make me want to call the whole things off!!!
> 
> Although we were promised a bunch of things, as far as having the TS for life, with the deed send out to use when we’re almost done with the payment and be able to pass it down to our 3 boys in the  future and they can also do the same once they have children on their own. I’m still kind of skeptic about the whole thing.
> ...



Recind immediately.  Follow instructions exactly.  If you allow the the recind date to pass you will be stuck. 

Timeshares like this you can get for free. You should never take a loan, that means you can’t afford it  and you should learn all about timeshare before getting one.

Welcome to Tug, hopefully you got here in time to save $15,000. Stick  around to learn as timesharing can be wonderful.


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## vacationtime1 (May 17, 2018)

By Florida law, you have a specific number of days (somewhere between 5 and 10; others may know exactly) to cancel your contract for a full refund.  It is your absolute right to do so.  Canceling the contract will cancel the loan as well.

As others have already suggested and others undoubtedly will, *rescind, and rescind NOW*.  The instructions are somewhere in the materials you were given.  Find them and follow them to the letter.  Make certain that everyone who signed the purchase agreement signs the rescission letter.


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## Passepartout (May 17, 2018)

In Florida, the rescission period is 10 days. Day 1 is the day AFTER you signed the contract. We suggest you rescind. Follow the instructions in the contract, but absent that, a simple letter stating your desire to cancel the contract and signed by all signers of the contract is sufficient. Include a COPY of the contract's signature page for identification and send it Certified at USPS with returned receipt. Send back all their junk, but not any 'gifts' you got for attending the presentation.

Should you not be scared off entirely by the experience, and still want a TS, one bought resale has all the benefits as one bought retail except the bonuses. TSs are a lousy way to buy cruises or airfare. As to passing them along to your kids, you have no idea whether they will want them and by then the cost may be so high that all you are doing is saddling them with problems and a lifetime of payment. Don't think for them. They can do it for themselves when the time comes.

Welcome to TUG. We're glad you found us.

Jim


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## jackio (May 17, 2018)

85,000 HICV points won't even get you a week in a  1BR in prime season, so  you will have to travel off-season, and with 3 children you would need larger units.  This purchase won't meet your needs at any price, so save the $15,000.


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## Iggyearl (May 17, 2018)

So 90 minutes turned into 360 minutes?  I bet you were only looking for the "free" tickets....  Lesson learned.  You never expected to buy a timeshare, but they showed you how great it would be to own one.  For the record, "resale" timeshare owners get housed in the same rooms as "retail" timeshare owners.  They just pay less as many current owners just want to get rid of the maintenance fee obligations.  Your contract is a perpetual contract.  (lasts forever).  You would be well advised to follow all the previous advice and rescind the purchase.  With three little ones, you will need the financial flexibility of not having this obligation.  Best of luck.


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## tschwa2 (May 17, 2018)

In terms of IHG, your $800+ in MF would probably get you about $300 toward airfare, car rental or cruise.  

Read the contract and rescind while you are still in your 10 day cancellation period.


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## Ant (May 17, 2018)

Thanks to everyone who have reach out to help us out. We have our rescissions papers ready to go, we are very grateful for Tug. We are Tugers for life!


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## theo (May 17, 2018)

vacationtime1 said:


> By Florida law, you have a specific number of days (somewhere between 5 and 10; others may know exactly) to cancel your contract for a full refund.  It is your absolute right to do so.  Canceling the contract will cancel the loan as well.
> 
> As others have already suggested and others undoubtedly will, *rescind, and rescind NOW*.  The instructions are somewhere in the materials you were given.  Find them and follow them to the letter.  Make certain that everyone who signed the purchase agreement signs the rescission letter.



Sound advice. 10 days to rescind (cancel) under Florida law. OP: Stay off the phone, send the rescission by certified USPS mail (*not* by FedEx, UPS, email, fax or carrier pigeon).
Tick tock.


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## TUGBrian (May 17, 2018)

so very happy you found us in time, not everyone gets a shot at saving $15,000 bucks just by doing their own research! Congrats!


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## Ant (May 17, 2018)

theo said:


> Sound advice. 10 days to rescind (cancel) under Florida law. OP: Stay off the phone, send the rescission by certified USPS mail (*not* by FedEx, UPS, email, fax or carrier pigeon).
> Tick tock.


Thank you very much!


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## Ant (May 17, 2018)

TUGBrian said:


> so very happy you found us in time, not everyone gets a shot at saving $15,000 bucks just by doing their own research! Congrats!


I am very grateful for TUG!!! Now I’m going to explore more of the site and perhaps purchase a resale TS, with a very low MF.


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## Passepartout (May 17, 2018)

Ant said:


> I am very grateful for TUG!!! Now I’m going to explore more of the site and perhaps purchase a resale TS, with a very low MF.


Welcome, Stick around a while and become an informed owner. First, we suggest you rent a TS a few times in different systems. I virtually guarantee the system you buy into will not be the first one you try. Now, just between us (don't tell anyone) Low MF is not always something desirable. Like when the BOD keeps MF too low to pay insurance, or keep up the place properly, and a hurricane blows through or the furnishings just wear out and owners get hit with a great big 'Special Assessment', or SA to bring it up to a desirable condition.

There is a questionnaire in one of the newbies forums (sorry I don't have a link for you) that you should fill out that will help us point you in the right direction for what might be appropriate for you.

Jim


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## Orangejuice1999 (May 18, 2018)

Sounds like you and I were at the same place at the same time. I too bought a TS and thanks to this Forum/Tug I will be sending out my letter tomorrow. I hope its not too late.  If I am not mistaken, the letter just has to be postmarked by the 10th day, right???

Here is our story: 

50k-$11K= about .22 a point, so it looks like you got a better deal than us.  

One of our concerns was that we did not buy enough points so we called RCI to see if they would give us point examples.....they hung up on us as soon as they found out we were not yet full pledge members. I am expecting a call tomorrow from one of the HICV consultants. Not sure if what he says matters at this point.  It looks like this site has some really good information that I need to read up on.

Well thank you all for the great information.  Im glad I found this site.


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## VacationForever (May 18, 2018)

Orangejuice1999 said:


> Sounds like you and I were at the same place at the same time. I too bought a TS and thanks to this Forum/Tug I will be sending out my letter tomorrow. I hope its not too late.  If I am not mistaken, the letter just has to be postmarked by the 10th day, right???
> 
> Here is our story:
> 
> ...


5 or 10 days has to do with the state where you bought.  Do not delay.


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## Passepartout (May 18, 2018)

If you bought in Florida, it's 10 CALENDAR days.


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## TUGBrian (May 18, 2018)

two in one thread!  fantastic!


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## jackio (May 19, 2018)

Orangejuice1999 said:


> Sounds like you and I were at the same place at the same time. I too bought a TS and thanks to this Forum/Tug I will be sending out my letter tomorrow. I hope its not too late.  If I am not mistaken, the letter just has to be postmarked by the 10th day, right???
> 
> Here is our story:
> 
> ...


The HICV rep will tell you anything to keep you from rescinding. Better off not talking to them at all.


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## theo (May 19, 2018)

Orangejuice1999 said:


> I too bought a TS and thanks to this Forum/Tug I will be sending out my letter tomorrow. I hope its not too late.  If I am not mistaken, the letter just has to be postmarked by the 10th day, right???



If it was in Florida, you have 10 calendar days (i.e., not business days) to have your rescission letter postmarked. Day One is the day *after* the date of contract execution.

Count your blessings. Ten days is actually is the longest rescission (cancellation) period available in the U.S. (along with Tennessee and one other state). In most states, it's either 5 or 7 days. In a few states (Massachusetts for one), the rescission period is only *3* days. 

As already advised, *do not* engage in any conversation with the "consultant" (i.e., sales closer). *Nothing* said on the phone is of any legal meaning or relevance when it comes to a contract already signed anyhow. Stay off the phone and rescind in writing (with the original signatures of *everyone* who signed the purchase contract) and just let the law do the rest.


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## Orangejuice1999 (May 20, 2018)

Thank you everyone for the information.  My letter was postmarked on the 9th day.  Now what? Do I leave it up to the seller to complete the cancellation process? Will they send me confirmation of the cancellation?


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## Ant (May 20, 2018)

Orangejuice1999 said:


> Sounds like you and I were at the same place at the same time. I too bought a TS and thanks to this Forum/Tug I will be sending out my letter tomorrow. I hope its not too late.  If I am not mistaken, the letter just has to be postmarked by the 10th day, right???
> 
> Here is our story:
> 
> ...




Wow!! That’s insane. Well Since you’ve sent that letter out, I’m hoping that they’ll just cancel everything and yes we both had a crappy deal and since we’ve gotten back to home they keep calling and leaving me voicemails, but just like those wonderful tuggers are saying, do not even try to contact them at all. I’m glad you find tug on time just like we did, wish you nothing but the best!!! By the way are you still planning to buy resale or you’re over this whole TS thing?


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## Passepartout (May 20, 2018)

Orangejuice1999 said:


> Thank you everyone for the information.  My letter was postmarked on the 9th day.  Now what? Do I leave it up to the seller to complete the cancellation process? Will they send me confirmation of the cancellation?


Yup. Just cool your jets. They are under no obligation to inform you of anything, but MUST process the rescission. Don't answer unknown phone calls, and watch your credit card account. No need to cancel it.

Glad you got it sent on time. Welcome to TUG!

Jim


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## taterhed (May 20, 2018)

The developer/seller is under no obligation to do anything but refund your money _if_ you complied with the terms of the rescission instructions and Florida law.

Congratulations.

Maintain copies of the paperwork, postmark and carefully watch the mail for any communications etc...

You may be contracted by someone trying to 'save' the contract; they will claim a special deal, a one time offer   yadda yadda yadda

Don't' engage in conversation with them other than to acknowledge the rescission.

cheers.


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## Orangejuice1999 (May 20, 2018)

Ant said:


> Wow!! That’s insane. Well Since you’ve sent that letter out, I’m hoping that they’ll just cancel everything and yes we both had a crappy deal and since we’ve gotten back to home they keep calling and leaving me voicemails, but just like those wonderful tuggers are saying, do not even try to contact them at all. I’m glad you find tug on time just like we did, wish you nothing but the best!!! By the way are you still planning to buy resale or you’re over this whole TS thing?



We would love to own our own TS. My in-laws have a TS that we have been using WITH them for years.  The main reason why we signed up was to "spread our wings and fly" on our own.  Looking at eBay for resales now.  Not sure why we would spend 11k when people are willing to give them away (now I know...thanks TUG).  I do not mind the yearly MF (MF means maintenance fee right??). Ohhh and I think we will stick to the Mexico (PV/Cancun) resorts. I feel like you get a lot more for your money.


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## taterhed (May 21, 2018)

Orangejuice1999 said:


> We would love to own our own TS. My in-laws have a TS that we have been using WITH them for years.  The main reason why we signed up was to "spread our wings and fly" on our own.  Looking at eBay for resales now.  Not sure why we would spend 11k when people are willing to give them away (now I know...thanks TUG).  I do not mind the yearly MF (MF means maintenance fee right??). Ohhh and I think we will stick to the Mexico (PV/Cancun) resorts. I feel like you get a lot more for your money.



There are many great ways to purchase timeshares via resale.

Ebay is one......that has a lot of good and bad sellers.  So does the general 'google search' provided by the internet.

Take time to learn what's right for your vacation needs and study up here on TUG.
Consider becoming a member of TUG:  it's the best $15 you'll ever spend.

There are a number of resellers, depending on brand you are looking for, that are well respected by tugger's.  They may not always have the lowest "bargain basement eBay price,"  but they tend to have accurately listed sales and less hidden fees and excessive delays than some bargain sellers.

Again, learn before buying and just buy the right thing--the first time!

Cheers


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## bvogel7475 (May 22, 2018)

Run, don't walk away as soon as possible.  If you are crazy enough to buy a Marriott timeshare like me, buy it on the secondary market.  I paid $25K for my timeshare in 2008 and you can now buy it on the secondary market for about $5 grand.  I honestly can't think of a worse financial decision I've made in my life and I am a CPA.  They do a great job of tapping into your emotions etc.  They have it down to an emotional science and have used psychologists and test groups to perfect their process.


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## mcfarke311 (May 22, 2018)

Ant said:


> Hello Everyone!
> So I was in Florida with my family this pass week, at the Holiday Inn Orange Lake Resort, when I got sucked into doing a supposedly 90 minutes TS, that turns into 5 and half long hours. Me and my girl thought we had a good deal, until I start doing some research when we got back, and stumbled across tug and those reviews that I’ve read so far, just make me want to call the whole things off!!!
> 
> Although we were promised a bunch of things, as far as having the TS for life, with the deed send out to use when we’re almost done with the payment and be able to pass it down to our 3 boys in the  future and they can also do the same once they have children on their own. I’m still kind of skeptic about the whole thing.
> ...




You are not alone, I also got sucked into it. Good news, Florida has a 10 day rescission period and I sent my notice in yesterday via certified, receipt requested mail. You should do that if you feel that you want to back out. The time is now! You can always go back and buy again, but you won't ever have the chance to back out once it is yours.

The letter has to be postmarked by midnight on the 10th calendar day following the transaction.

My rescission letter was as follows:


Notice of Rescission

Contract #: XX-XXXXXX




Date: DATE GOES HERE



To:

DEVELOPER NAME GOES HERE

℅ GRAND VACATIONS SERVICES LLC

ATTN: CONTACT NAME

ADDRESS

CITY, STATE, ZIP



Dear Sir or Madam:


We have entered into the contract numbered XX-XXXXXX with you on May 18, 2018 intended to purchase timeshare property in the Ocean 22 Development in Myrtle Beach, South Carolina.


Pursuant to the RESCISSION section of our contract, We hereby notify you of our rescinding of said contract, which rescission is made within ten (10) days from the contract date in compliance with Chapter 721, Florida Statutes. We hereby request the return of funds paid in the amount of AMOUNT-WRITTEN-OUT (NUMERICAL DOLLAR AMOUNT) within twenty (20) days of receipt of this notice as required by law. We also request an immediate response with a written confirmation of contract cancellation and an itemized list of items necessary to be returned in order to receive a full refund.



Sincerely,







Name 1                       Name 2




Attachments: Two (2) Credit card sales drafts totalling an amount of NUMERICAL DOLLAR AMOUNT; Exhibit A from contract listing full property description; Page 1 of Purchase agreement to be cancelled.

CERTIFIED MAIL, Return Receipt Requested







Good luck to you! Get it in the mail ASAP! If you are like me, you won't get a good nights sleep until you do


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## taterhed (May 22, 2018)

Uh, ok.

Well, A quick note before I forget.....

In my opinion...and that of quite a few others....

Mexican timeshares are best rented or exchanged.  I would be very very careful about purchasing anything south of the border.....


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## silentg (May 22, 2018)

We own at OL we bought a resale, 127,000points. We use it to book IHG stays and other HICV resorts. We live nearby so we get Day use there too. I’ve been reading posts lately that HICV is pulling Right of First Refusal on resale’s. Have any of you had this happen?
Silentg


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## MARIMELENA (Jul 22, 2018)

Ant said:


> Hello Everyone!
> So I was in Florida with my family this pass week, at the Holiday Inn Orange Lake Resort, when I got sucked into doing a supposedly 90 minutes TS, that turns into 5 and half long hours. Me and my girl thought we had a good deal, until I start doing some research when we got back, and stumbled across tug and those reviews that I’ve read so far, just make me want to call the whole things off!!!
> 
> Although we were promised a bunch of things, as far as having the TS for life, with the deed send out to use when we’re almost done with the payment and be able to pass it down to our 3 boys in the  future and they can also do the same once they have children on their own. I’m still kind of skeptic about the whole thing.
> ...


So glad I found your notice. We just went through the same thing, Red Lobster lunch and all, and were exited to have 90,000 points plus 500,000 extras by giving up our Bonia Beach Resort and Manhattan Club deeds! It would have cost us $15,000 plus $900 a year. Now we are ready to rescind also. We should have know better!
thank you,
Marimelena


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## MARIMELENA (Jul 22, 2018)

Does anyone have experience with The Manhattan Club?


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## LannyPC (Jul 22, 2018)

MARIMELENA said:


> Does anyone have experience with The Manhattan Club?



There are probably some threads about the MC in the US Eastern Timeshares region Forum.  Start there.  Most responses are unfavourable toward the MC.


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## HudsHut (Jul 22, 2018)

OrangeJuice1999:
Congrats on rescinding. Slow down. Read, read, read in order to learn which system is best for you, if any. What do your parents own?
Do not buy in Mexico.
You can rent timeshares in Mexico, or exchange into them, but don't own them.


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