Steps to rescind MVCI - for hybrid bundled packages?

[dgt216]

Hi,

Would appreciate any help/advice to rescind specifically a "hybrid" bundled package (MVC DC pts + 1 week in FL).

We signed the contract just a couple days ago in Hawaii, so as I understand, by Hawaii state law I have 7 days to cancel. However, the paperwork we signed was only for the DC pts portion. We were told the paperwork for the "1 week in FL" would be FedEx to us next week.

Questions:
1. Will one written Cancellation Letter/Form certified mailed per the contract cancellation instructions be adequate to cancel the entire "hybrid" package?
2. Or will I need to send a cancellation letter/form for each portion of the bundled package?

Very glad to have found this site while we are still within our Rescission period - thanks in advance for the help!

 

[TheTimeTraveler]

You ask a good question! I would not waste any time with this, contact Marriott, and tell them that not only would you like it in your possession via FED EX, but you would like a copy of it emailed to you immediately.

Then, go ahead and send in all your paperwork and cancel each portion of the bundled package to cover your bases.

To be honest, you likely only need one letter to cancel the entire "hybrid" package, but I would not want to take the gamble as I suspect you are talking quite a bit of money.

Plenty of others will add their opinion here but in any event be very sure to send it via USPS Certified mail and be sure to retain the Postmarked Copy of the actual day of mailing.

Allow up to 45 days for your refund.




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[dgt216]

Thanks for the quick reply. For anyone who's bought the hybrid package, have you also received the "weeks" portion of the contract at a later date via mail (vs. the DC pts portion of contract)? Is this a common practice for MVC?

Is it true Marriott does not have to reply or confirm to my request for cancellation? If they remain completely quiet for 44 days, anyone have suggestions how to confirm that the cancellation request was acknowledged by them (and they will issue the refund)?

 

[TheTimeTraveler]

By law they have to honor it. They don't need to acknowledge receipt, but they do have to act on it by state law. This is why it is so important to retain the Postmarked receipt (to prove you mailed it in a timely basis).

They don't want the bad publicity; they will act on it if you've done everything correctly.





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[csalter2]

You can send one letter to cancel the entire deal. You have not even contractually obligated yourself to the week if you have not received the package yet. That package is going to contain all of the paperwork for you to commit. It has the sales agreement and obligations all in it. Since you haven’t signed any of it you are really off the hook as long as you don’t sign it and send it back to them. That week is more than likely a resale week from a Marriott owner trying to see theirs.

Just send you letter cancelling and date it. Send it certified mail so you can get a receipt that they got it and you’re good.

 

[Grammarhero]

Hi,

Would appreciate any help/advice to rescind specifically a "hybrid" bundled package (MVC DC pts + 1 week in FL).

We signed the contract just a couple days ago in Hawaii, so as I understand, by Hawaii state law I have 7 days to cancel. However, the paperwork we signed was only for the DC pts portion. We were told the paperwork for the "1 week in FL" would be FedEx to us next week.

Questions:
1. Will one written Cancellation Letter/Form certified mailed per the contract cancellation instructions be adequate to cancel the entire "hybrid" package?
2. Or will I need to send a cancellation letter/form for each portion of the bundled package?

Very glad to have found this site while we are still within our Rescission period - thanks in advance for the help!

I’d write a cancellation letter now, sent certified, saying you wish to cancel both the points and the week. When you do get the later contract, I’d send certified again. What was the price of the TS?

 

[dougp26364]

Thanks for the quick reply. For anyone who's bought the hybrid package, have you also received the "weeks" portion of the contract at a later date via mail (vs. the DC pts portion of contract)? Is this a common practice for MVC?

Is it true Marriott does not have to reply or confirm to my request for cancellation? If they remain completely quiet for 44 days, anyone have suggestions how to confirm that the cancellation request was acknowledged by them (and they will issue the refund)?

They send the resale week paperwork about a week or two after you signed the points paperwork. We recently closed on a hybrid package

 

[csalter2]

They send the resale week paperwork about a week or two after you signed the points paperwork. We recently closed on a hybrid package

It really depends on if they have the week on hand. I didn’t get the paperwork for my resale week for three months.

 

[dougp26364]

It really depends on if they have the week on hand. I didn’t get the paperwork for my resale week for three months.

Interesting. I wouldn’t think they could sell something they didn’t actually have, but anticipated having.

I wonder if some of it had to do with the person who listed that particular week for sale. Completing a resale through MVC requires both seller and buyer to complete and send in the paperwork. Maybe the person selling the week was sitting on the paperwork until their “last” vacation was completed out of fear Marriott would cancel their reservation.

During our process I was able to catch a glimpse of what was being done with our resale purchase week. I was really just looking for the bonus points and the ability to deposit/reserve the resale week, but in doing so I was able to see the week had been reserved for an October week this year (our usage starts in 2020).

 

[Grammarhero]

Hi,

Would appreciate any help/advice to rescind specifically a "hybrid" bundled package (MVC DC pts + 1 week in FL).

We signed the contract just a couple days ago in Hawaii, so as I understand, by Hawaii state law I have 7 days to cancel. However, the paperwork we signed was only for the DC pts portion. We were told the paperwork for the "1 week in FL" would be FedEx to us next week.

Questions:
1. Will one written Cancellation Letter/Form certified mailed per the contract cancellation instructions be adequate to cancel the entire "hybrid" package?
2. Or will I need to send a cancellation letter/form for each portion of the bundled package?

Very glad to have found this site while we are still within our Rescission period - thanks in advance for the help!

What was the price of the hybrid package? How much do they usually sell for?

 

[dougp26364]

What was the price of the hybrid package? How much do they usually sell for?

The price will vary depending on the re-sale week and number of points required to match. Generally speaking, the price will be between $7 and $10 per point. It seems to me the higher the number of points, the lower the cost. For instance if the resale week generates 3,500 points and you need to purchase 3,500 trust points, the average cost per point is lower, but only because the week that generates 3,500 enrolled points will cost about the same as another week in a different location that generates only 2,500 points but cost approx the same as the week that generates 3,500 points.

We purchsed a re-sale week that generate 2,235 points and were required to buy 2,500 trust points to enroll the re-sale week. The average cost per point was about $7.95/point if I remember correctly. This seemed typical for most packages I’ve seen on TUG. A little better than most but higher than a few. I believe there have been a few that ended up being less than $7 per point.

 

[csalter2]

The price will vary depending on the re-sale week and number of points required to match. Generally speaking, the price will be between $7 and $10 per point. It seems to me the higher the number of points, the lower the cost. For instance if the resale week generates 3,500 points and you need to purchase 3,500 trust points, the average cost per point is lower, but only because the week that generates 3,500 enrolled points will cost about the same as another week in a different location that generates only 2,500 points but cost approx the same as the week that generates 3,500 points.

We purchsed a re-sale week that generate 2,235 points and were required to buy 2,500 trust points to enroll the re-sale week. The average cost per point was about $7.95/point if I remember correctly. This seemed typical for most packages I’ve seen on TUG. A little better than most but higher than a few. I believe there have been a few that ended up being less than $7 per point.

What you say is usually the case, there has to be a minimum of points that has to match in hybrids. However, that all goes out of the window when they are trying to boost sales, particularly in the summers. I was offered a hybrid this summer for $6 per point and last summer the hybrid I bought did not meet the requirement of having to match the points. I was able to have a 1300 points difference. It all depends on what their sales goals are and generally I think higher points purchases often can help give them more flexibility in price.

 

[csalter2]

The price will vary depending on the re-sale week and number of points required to match. Generally speaking, the price will be between $7 and $10 per point. It seems to me the higher the number of points, the lower the cost. For instance if the resale week generates 3,500 points and you need to purchase 3,500 trust points, the average cost per point is lower, but only because the week that generates 3,500 enrolled points will cost about the same as another week in a different location that generates only 2,500 points but cost approx the same as the week that generates 3,500 points.

We purchsed a re-sale week that generate 2,235 points and were required to buy 2,500 trust points to enroll the re-sale week. The average cost per point was about $7.95/point if I remember correctly. This seemed typical for most packages I’ve seen on TUG. A little better than most but higher than a few. I believe there have been a few that ended up being less than $7 per point.

The $6 per point offer was a Custom House unit worth 2475 DC points but I would only have had to buy 2000 points. This was not their initial offer. They were pretty firm on that until I shared with them what I paid the year before for my hybrid weeks and how I could get the points cheaper resale. Then they came way down to reality. $6 per point from Marriott is better than resale from a points perspective. They wanted me to go to Chairman level but I declined. My point is that there’s nothing engraved in stone and there’s flexibility when there is no flexibility. Also, as with many things in life, timing is everything.

 

[TheTimeTraveler]

The $6 per point offer was a Custom House unit worth 2475 DC points but I would only have had to buy 2000 points. This was not their initial offer. They were pretty firm on that until I shared with them what I paid the year before for my hybrid weeks and how I could get the points cheaper resale. Then they came way down to reality. $6 per point from Marriott is better than resale from a points perspective. They wanted me to go to Chairman level but I declined. My point is that there’s nothing engraved in stone and there’s flexibility when there is no flexibility. Also, as with many things in life, timing is everything.

The only problems I see with buying at the Custom House is it is one of the few Marriott properties that is an RTU Timeshare (Right to Use), and no one knows what will happen when 2057 rolls around.

Additionally, their annual fees are quite high for a one bedroom Villa. I believe they currently run around $1,900 per year.




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[bazzap]

The only problems I see with buying at the Custom House is it is one of the few Marriott properties that is an RTU Timeshare (Right to Use), and no one knows what will happen when 2057 rolls around.

Additionally, their annual fees are quite high for a one bedroom Villa. I believe they currently run around $1,900 per year.

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Most of our MVC resort weeks are RTU.
This has never really been a big issue for me.
End dates e.g. 2057 are a long, long way off and many other things may well have changed for all of us by then but even so:-
I contacted Owner Services back in 2015 seeking clarification about RTU resorts and what happens at their end date.
Their response was
"the property goes to the land owner and if the lease is renewed then the usage of the weeks for the owners will still continue."
I also checked the HOPA for our Playa Andaluza RTU ownership and if I read the "legalese" correctly then at the end of term either
- after discharging any liabilities and management charges, the net proceeds of sale are distributed to existing holiday owners in good standing
or
- the plan is renewed along with the RTU ownership for existing holiday owners in good standing

 

[Grammarhero]

Thanks for the quick reply. For anyone who's bought the hybrid package, have you also received the "weeks" portion of the contract at a later date via mail (vs. the DC pts portion of contract)? Is this a common practice for MVC?

Is it true Marriott does not have to reply or confirm to my request for cancellation? If they remain completely quiet for 44 days, anyone have suggestions how to confirm that the cancellation request was acknowledged by them (and they will issue the refund)?

@dgt216
We hope that your rescission went well and enjoying life without the financial burden of a developer/resort TS. Solely to track how much TS owners have saved, mind sharing how much you saved with rescission? As half of all tuggers initially bought developer/resort TS, there is no shaming.