New reluctant timeshare owner

[lellis12]

My husband and I bought a timeshare in June, for my birthday. We bought at Williamsburg Plantation through Interval International. We actually turned down a chance to buy a homebase at Williamsburg because we already live so close, but ended up buying one of their "wait, don't go's". Our homebase is in Florida, which we thought we would vacation a lot there, at Parkway International, wk 49 annual. We were told that we have some of the highest trading power because of our homebase being close to Disney and week being so close to Christmas. Now I'm thinking this was just also part of their sales pitch. We were also told through Interval we'd also get 10 "getaways" which we could end up selling to pay our annual maintenance fees. Just got our bill for our 2014 maintenance fees and they've already raised them We even got a different loan to pay off our timeshare so we wouldn't have such a high interest rate through them, but it seems like that just got us in even deeper. Trying to find a light at the end of the tunnel here, but all we're seeing is more and more money down the drain. Not sure if we even have something good or if it was all a sales pitch...

 

[Ridewithme38]

Ok, so you own at Vacation Villages at Parkway? Not all is lost! You were definately fed some BS and being able to rent the 'getaways' and week 49 having 'some of the highest trading power'

I don't have too much information about Vacation Villages at Parkway, but know many many people on this board own there, so they should be able to come back and help you very soon!

 

[czar]

We've gotten some great trips - solo couple and family - through exchanges. We're glad we own timeshares and depending on what you got, you'll appreciate having more space than a standard hotel room.

So make the most of your purchase!

 

[lellis12]

Ok, so you own at Vacation Villages at Parkway? Not all is lost! You were definately fed some BS and being able to rent the 'getaways' and week 49 having 'some of the highest trading power'

I don't have too much information about Vacation Villages at Parkway, but know many many people on this board own there, so they should be able to come back and help you very soon!

That's what I thought about the BS, at the time we were thinking cool, that's the week of our son's birthday, but hindsight is 20/20. And we don't have Vacation Villages at Parkway, we have Parkway International...this one
http://tug2.com/RnR/TabResortDescri...sortGUID=4d6950b4-5910-4c70-af4e-0f1f512aea00

Not sure if that makes a difference, but I'm sure it does. We have the "A" side, which I've read is bigger, but have yet to take our week so couldn't say one way or the other personally.

 

[presley]

It's time to make lemonade. Forget whatever the sales person said and learn how to get the most out of your timeshare. Most importantly, use it to enjoy time with your family.

 

[pacodemountainside]

MF do tend to go up each year.

You do have lots of get-a-ways with II which can be booked near term for a few hundred dollars. However, illegal to rent them. If you have in writing basis for canceling.

You can check II TPI for your unit but for most part I would suspect week 49 is low. Not many people vacation at that time and ends up in get-a-way pool!

 

[lellis12]

MF do tend to go up each year.

You do have lots of get-a-ways with II which can be booked near term for a few hundred dollars. However, illegal to rent them. If you have in writing basis for canceling.

You can check II TPI for your unit but for most part I would suspect week 49 is low. Not many people vacation at that time and ends up in get-a-way pool!

So does that mean we can rent out our homebase week and use the get-aways for wherever else we would like to go?

 

[pacodemountainside]

I am not familiar with this resort but as far as I know your deeded rights would include right to occupy, rent, sell, exchange, donate, barter, etc.

As an aside I like to travel weeks after Thanksgiving and end of January as easily end up with 2 BR for one BR cost and little traffic.

Just exchanged 1 BR for nice 2 BR in CABO for my birthday at end of January 2015. Helps mitigate RCI $209 fee!

 

[rickandcindy23]

Parkway International is an old resort, at least 20 years old, so they aren't in sales anymore, I don't think.

How did you buy this week? Were you invited to a sales presentation at one of the nearby resorts?

 

[Ridewithme38]

Parkway International is an old resort, at least 20 years old, so they aren't in sales anymore, I don't think.

How did you buy this week? Were you invited to a sales presentation at one of the nearby resorts?

That's why i originally though Vacation Village at Parkway, Williamsburg Plantation is a 'sister' resort of VV@P so that makes more sense.

 

[rickandcindy23]

Vacation Village at Parkway doesn't exchange through II, but Parkway International does.

Week 49, very low season. Two bedrooms are all the same size at Parkway International, so the "A" side doesn't make sense to me. As far as I know, all 2 bedrooms are the same size, and there are no lockoffs at Parkway International.

Parkway International is right next to VV at P.

I don't know what you bought. Nothing sounds right to me. A side, that would indicate VV at P, but II, definitely not.

 

[lellis12]

Parkway International is an old resort, at least 20 years old, so they aren't in sales anymore, I don't think.

How did you buy this week? Were you invited to a sales presentation at one of the nearby resorts?

We bought this week as a sort of closeout I guess you would call it. We were invited to a sales presentation at Williamsburg Plantation because we entered something at a local fair. We went for the presentation but declined. On our way out a girl was talking us into one of the properties they owned that we could get for $6k and not nearly the $27k they were trying to sell us on. She talked us up on how great it was to have a home base in Florida and that the II wanted us to NOT use our weekend and just bank it or trade it in for another destination where we wanted to go, that it was a great week because everyone wants to go to Florida in the winter.... and so on. We fell for it and bought. We tried to cancel our purchase with a rescind letter (that's what I believe it was called) but we got a call saying we were past our 3 day window (yes 3, not 30) and that we were stuck with it. So now we just want to sell it but don't even know if we could get what we paid.

 

[lellis12]

That's why i originally though Vacation Village at Parkway, Williamsburg Plantation is a 'sister' resort of VV@P so that makes more sense.

Sorry, didn't mean to confuse anyone. We are definitely new to the whole timeshare thing. But we definitely bought from Williamsburg and our exchange is Interval International, that's what all our paperwork says.

 

[lellis12]

Vacation Village at Parkway doesn't exchange through II, but Parkway International does.

Week 49, very low season. Two bedrooms are all the same size at Parkway International, so the "A" side doesn't make sense to me. As far as I know, all 2 bedrooms are the same size, and there are no lockoffs at Parkway International.

Parkway International is right next to VV at P.

I don't know what you bought. Nothing sounds right to me. A side, that would indicate VV at P, but II, definitely not.

Again, sorry for the confusion. The A side was my mixup of something I read and looking at our unit number on our paperwork. We do have a 2 BR at Parkway International. We have not yet used our week as there was a screw up on maintenance fees and we were not charged them until this year. I called Diamond and they said they have it listed that awe bought the thing directly from Parkway in 2012 but that's incorrect because we didn't buy it until June 2013. Something is very screwy with all of it.

 

[Scott W]

Yes, you own at Parkway International Resort, which was bought out by DRI last year.

The bad news is that you won't be able to sell your week for the $6K you paid for it. The good news is that you only paid $6K through a developer purchase.

How many DRI does this come with, if any?

 

[Lisa P]

So does that mean we can rent out our homebase week and use the get-aways for wherever else we would like to go?

Yes, in theory. The difficulty is that you'll be hard-pressed to find renters who will pay enough to cover your maintenance fees during low season week 49. You may get $500-$700 for the rental if you are able to post the rental locally, perhaps at a large workplace, where some folks will be more comfortable renting from a local and they would not seek the competition (online SkyAuction rentals, fully-owned condo rentals, etc.). Frankly, you will have less hassle and more enjoyment by simply using your owned week and adding getaways for additional vacations.

We bought... [while in] Williamsburg... We tried to cancel our purchase with a rescind letter (that's what I believe it was called) but we got a call saying we were past our 3 day window (yes 3, not 30) and that we were stuck with it.

Exactly how long after purchase did you try to rescind - was it within 7 days (or 8, if the 7th day was a Sunday)? Did you use a certified letter, return-receipt requested? If the answer to both of these is "yes", then your rescission was probably supposed to be honored. (I'm not a lawyer and not attempting to offer legal advice.) Here's the Virginia law, to see for yourself:
http://leg1.state.va.us/cgi-bin/legp504.exe?000+cod+55-376

If that's the case, you need to contact them again and let them know you will initiate legal action if they do not promptly refund all monies paid, in full. And then do so. ... just sayin' ... It's irksome to read that someone is told they only have a 3-day window when they have more.

Anyway, welcome to TUG. Most folks here have overpaid on their first timeshare purchase by a far greater amount than you. But they still enjoy their timeshare vacations and see the value in learning to make the most of them.

 

[theo]

Contact info, if you should choose to pursue this further...

We tried to cancel our purchase with a rescind letter (that's what I believe it was called) but we got a call saying we were past our 3 day window (yes 3, not 30) and that we were stuck with it.

Per below, it would seem that under applicable Virgina law you may have actually had 7 days (...not just 3...) to rescind. If you were past seven days in your cancellation, then you are surely just out of luck at this late juncture. However, if you have actual documentation and proof that you met the requirements for rescission within 7 days, and that 7 day time frame was the one actually in effect at the time of your purchase, following is extensive contact information if you want to pursue further action...

---------------------------------------------------------------------------------------------
Virginia

Website: http://www.oag.state.va.us/

Email: http://www.vaag.com/CONTACTS/index.html

Phone: (804) 786-2116

Mailing Address:
Office of the Attorney General
900 East Main Street
Richmond, VA 23219

Consumer Protection: http://www.oag.state.va.us/CONSUMER/

Online Complaint form: http://www.vdacs.virginia.gov/forms-...1complaint.pdf

Timeshare laws/regulations:
Code of Virginia, Title 55, Chapter 21, TheVirginia Real Estate Time-Share Act
http://www.dpor.virginia.gov/dporweb...egulations.pdf
http://leg1.state.va.us/cgi-bin/legp...21000000000000

Rescission Period: Seven Days. If the seventh day falls on a Sunday or Holiday, the next business day is the deadline
----------------------------------------------------------------------------------------

P.S. As I read your posts, I'm confused about exactly where you were when you actually purchased, whether in Virginia or in Florida. In either case, the "3 days" tall tale you mention having been told was still wrong.
The rescission period is 7 days in Virginia and it's 10 days in Florida. There are several states where the rescission period is only 3 days (e.g., Massachusetts and 2 or 3 others I can't recall off the top of my head) but that's certainly not the case in either Virginia or Florida.

 

[TheTimeTraveler]

Theo; nice response! That post should be extremely helpful to all buyers who find themselves in the same situation.



.

 

[theo]

Proper attribution...

Theo; nice response! That post should be extremely helpful to all buyers who find themselves in the same situation.

Thanks, but to give credit where credit is due, there is a TUG How to Rescind "sticky", posted by moderator (and Chief Shill-Sniffer-Outer) Denise M. That sticky (and numerous helpful others) is found directly above the "Buying, Selling & Renting" forum threads.

All I did was cut & paste the Virginia rescission info from that "sticky", highlight the applicable rescission time frame referenced therein and add a few (hopefully pertinent) intro and post-quote observations of my own.

There is comparable info for many other states too, accessed via a link within the aforementioned "sticky".

 

[tschwa2]

Since the timeshare bought was in Florida, the OP may have up to 10 days. Florida has one of the longer and more comprehensive rescission allowances for timeshares. In Florida, it doesn't matter if it is resale (even ebay or private owner) or developer. I also believe it applies if any of the following apply. The buyer or seller resides in Florida or the TS property being sold is in Florida.

But since the OP referenced 3 days not 30 days my guess is that she attempted to rescind closer to the 30 day mark.

 

[stoler527]

Week 49 is a nice week to go to disney. All the christmas decorations are up and the big crowds have not yet arrived. Mickeys very merry Christmas party should be available that week.

We frequently go to Orlando that week and enjoy ourselves. If it is your sons birthday, that makes it even better!!

I don't know anything about your resort or rescission, but I think that you will enjoy your week.

 

[Scott W]

Since the timeshare bought was in Florida, the OP may have up to 10 days. Florida has one of the longer and more comprehensive rescission allowances for timeshares. In Florida, it doesn't matter if it is resale (even ebay or private owner) or developer. I also believe it applies if any of the following apply. The buyer or seller resides in Florida or the TS property being sold is in Florida.

But since the OP referenced 3 days not 30 days my guess is that she attempted to rescind closer to the 30 day mark.

The rescission period is based on which state the contract was written, not where the timeshare is located. In the case of the OP, the contract was written in Virginia so they would have had 7 days to rescind.

Lellis12, I would take Lisa P's advice. When did you enter the contract with DRI and when did you submit your rescission letter? Hopefully within 7 days. If not, see if you can work a deal with DRI and see if they can offer you a better week for sale at the same price.

FWIW, my friend's grandparents visit Florida regularly and I don't think there is a timeshare in Orlando that they haven't stayed in. Guess what their favorite two timeshare resorts are? Marriott Lakeshore Reserve and Parkway International.

 

[theo]

The rescission period is based on which state the contract was written, not where the timeshare is located. In the case of the OP, the contract was written in Virginia so they would have had 7 days to rescind.

Actually, tschwa2 makes an excellent point in preceding post #20 above. Changes to Florida law adopted and implemented a year or so ago expanded jurisdiction in timeshare transaction matters involving Florida...

Whether those legislative changes in FL could help OP lellis12 there is no way to know, since the OP never specifically identified the elapsed time period between contract execution and initiating a rescission attempt.
If the rescission attempt was more than 10 days after the contract execution date, then the OP is surely just plain out of luck now anyhow regarding rescission, regardless of whether Virgina and / or Florida law applies.

 

[lellis12]

Yes, you own at Parkway International Resort, which was bought out by DRI last year.

The bad news is that you won't be able to sell your week for the $6K you paid for it. The good news is that you only paid $6K through a developer purchase.

How many DRI does this come with, if any?

I'm not sure what you mean by how many DRI does it come with. I'm assuming you mean Diamond Resorts International when you say DRI, but then I should know better than to assume anything...

 

[lellis12]

Since the timeshare bought was in Florida, the OP may have up to 10 days. Florida has one of the longer and more comprehensive rescission allowances for timeshares. In Florida, it doesn't matter if it is resale (even ebay or private owner) or developer. I also believe it applies if any of the following apply. The buyer or seller resides in Florida or the TS property being sold is in Florida.

But since the OP referenced 3 days not 30 days my guess is that she attempted to rescind closer to the 30 day mark.

You are correct, we were very close to the 30 day mark, but definitely before it, but as was said above, it didn't matter either way. The woman actually said to me that we only had 3 days and we were WELL past our 3 days, but it was less than 30 days. I even spent the money to send it certified, but was told that because it was in VA that I signed I only had 3 days.