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New Vacation Club Owner with possible Buyer's Remorse. Help appreciated!

R

R&RTime

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Hi All, New member to the TUG community and Vacation Club Owner. This past week we purchased the Sheraton Flex Vacation and can really use your guidance and expertise on the offer we received. We are not sure if we made the right decision. It was an emotional buy to be able to travel more often and create additional memories with our family. We have never purchased a timeshare or anything like this vacation club. And as you know, they don't give you too much time to research what you are getting, but we do have a 10 day rescind option. Believe that puts us at Thursday, February 25th from purchase date of Monday, February 15th. Here are the details and questions. Thank you so much for your help.

Sheraton Flex Vacation Ownership
  • Purchase made this past Monday 2/15/21
  • HomeOptions 67,100 (Annual)
  • Vistana Signature Network
  • 9 Resorts
  • Costs
    • $22,009
    • $845 Closing
    • $1316.50 Annual dues
    • $109 to bank points
    • $159 Interval International exchange fee
  • Incentives
    • Bonus StarOptions 134,200 (67,100 x 2)
    • Unlimited Getaways via Interval International
    • Marriot Bonvoy
      • Gold Elite Status for life
  • Additional
    • Signed up for Marriott Bonvoy Brilliant Amex Card
      • Made Flex Vacation purchase on card so it comes out to ~207,054 Bonvoy points (75k for Amex sign up and 6x Bonvoy points on $22k purchase).
    • Additional week added in Interval International

Questions:
  • Is the above a good deal? Personally, the 9 resorts are not of high interest. Most of the ones we liked are from the Westin resorts, but reservation has to be within the 8 month window. That means that we will have to book in May of the start of a New Year and we are concern that availability will be slim since we would like to travel June, July or August when the kids are out of school. This also means we won’t be able to rent in February (winter recess) or March (spring break) if we would like a property in the 8 month rental period.
  • What benefits don’t transfer over when purchasing a resale?
    • Per sale rep, you lose all perks and access to the Vistana Signature Network (VSN) when buying a resale. They mentioned that new owner would need to buy into the Flex vacation program again to get into the network. Believe Sheraton Flex Vacation are voluntary resorts so StarOptions and other benefits don’t transfer but I could be mistaken.
  • In regards to rescind period, we get 10 days do to so.
    • Does the certified cancelation letter need to be received before the 10 days are up or as long as it’s mailed and postmarked before the 10 days then we are good?
      • Basically, if certified mail goes out on the 9th day but they receive it after the 10th day would they still have to honor the cancelation request?
      • Looks like we have until February 25th to cancel since purchase was made on February 15th.
Thank you again.
 
Welcome to TUG. Congrats on finding us in time.

1) Rescind now. Sheraton Flex offers little resale value because of the system limitations you described i.e. your $22k investment will dive to < $1000 the day after your rescission period. If you want Westin. Look for Westin Mandatory weeks or Westin Flex so you get priority from 9 - 12 months. This does not fit what you want. This deal will always be there if you find otherwise. Don't let them fool you.

2) Research so you know what system and resorts fit your travel plans. After you rescind come back to TUG and we can help you figure out the best value resale based on your travel destinations.

3) Buy resale if you find something that fits. Why pay $22k when you can buy the same thing from a licensed resale real estate broker for a fraction of the cost?

4) Rent Timeshares. Until you decide on the resorts/systems you like or continue to rent timeshares from owners.

Follow the rescission directions on the contract. Track the postage and get proof of mailing with a date stamp within the rescission period. Do not go to the sales office or talk to them because they will try to talk you out of it.

Good luck!
 
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If you go to eBay you will find some Sheraton Flex Vacation Ownership selling for as little as $1.

Need I say more? RESCIND, and get it Postmarked on Monday February 22nd. Send it via USPS CERTIFIED MAIL and retain the receipt.

Be sure that any buyer who signed the original purchase agreement also signs the rescission paperwork.

Allow up to 45 days for your refund. Keep in mind that they don't need to acknowledge the receipt of your rescission request but they must act on it.



..
 
R&RTime said:
Hi All, New member to the TUG community and Vacation Club Owner. This past week we purchased the Sheraton Flex Vacation and can really use your guidance and expertise on the offer we received. We are not sure if we made the right decision. It was an emotional buy to be able to travel more often and create additional memories with our family. We have never purchased a timeshare or anything like this vacation club. And as you know, they don't give you too much time to research what you are getting, but we do have a 10 day rescind option. Believe that puts us at Thursday, February 25th from purchase date of Monday, February 15th. Here are the details and questions. Thank you so much for your help.

Sheraton Flex Vacation Ownership
  • Purchase made this past Monday 2/15/21
  • HomeOptions 67,100 (Annual)
  • Vistana Signature Network
  • 9 Resorts
  • Costs
    • $22,009
    • $845 Closing
    • $1316.50 Annual dues
    • $109 to bank points
    • $159 Interval International exchange fee
  • Incentives
    • Bonus StarOptions 134,200 (67,100 x 2)
    • Unlimited Getaways via Interval International
    • Marriot Bonvoy
      • Gold Elite Status for life
  • Additional
    • Signed up for Marriott Bonvoy Brilliant Amex Card
      • Made Flex Vacation purchase on card so it comes out to ~207,054 Bonvoy points (75k for Amex sign up and 6x Bonvoy points on $22k purchase).
    • Additional week added in Interval International

Questions:
  • Is the above a good deal? Personally, the 9 resorts are not of high interest. Most of the ones we liked are from the Westin resorts, but reservation has to be within the 8 month window. That means that we will have to book in May of the start of a New Year and we are concern that availability will be slim since we would like to travel June, July or August when the kids are out of school. This also means we won’t be able to rent in February (winter recess) or March (spring break) if we would like a property in the 8 month rental period.
  • What benefits don’t transfer over when purchasing a resale?
    • Per sale rep, you lose all perks and access to the Vistana Signature Network (VSN) when buying a resale. They mentioned that new owner would need to buy into the Flex vacation program again to get into the network. Believe Sheraton Flex Vacation are voluntary resorts so StarOptions and other benefits don’t transfer but I could be mistaken.
  • In regards to rescind period, we get 10 days do to so.
    • Does the certified cancelation letter need to be received before the 10 days are up or as long as it’s mailed and postmarked before the 10 days then we are good?
      • Basically, if certified mail goes out on the 9th day but they receive it after the 10th day would they still have to honor the cancelation request?
      • Looks like we have until February 25th to cancel since purchase was made on February 15th.
Thank you again.
Click to expand...

First, congratulations on finding TUG!

As others have recommended rescind immediately. Given your interest in the Westin properties look into buying a Mandatory resort within the Vistana network. The only benefits you won’t have is converting to Bonvoy points, which isn’t the best deal anyway, and your StarOptions won’t count toward Elite status (again maybe not that important).

Research mandatory resorts (Westin Kierland Villas, Westin Kaanapali and WestinKaanapali Northplus A couple others). Look on redweek.com and the TUG Marketplace for asking prices and maintenance fees. You will save a lot and have a better package to work with.

You can also consider other systems that may work for you.

Best regards.

Mike
 
YES, rescind now while you have a chance! If you have any questions at all about how this whole timeshare things works, take advantage of this opportunity to rescind. Follow the instructions exactly as written in your purchase contract. Be sure that all parties who signed the contract also sign the rescission letter. It can be a very simple statement that you are exercising your legal right to rescind your purchase. Mail it by USPS certified mail so that you have a receipt from the post office showing that you rescinded within the time limit.

Once you've rescinded, take your time to educate yourself about timesharing. You've come to the right place to learn all you can from some very knowledgeable and helpful people on TUG who are happy to help you. Ask questions. Read all you can. Then the next time you think you want to buy a timeshare, you'll be an educated consumer. After your research, you can still buy what you just bought if you think it meets your needs. But, I'm pretty sure you can do better for yourself.
 
I’d use an overnight express mail, USPS or FedEx, where you have guaranteed and documented delivery the next day. And be sure they have it no later than Feb. 24, but sooner is better.
 
csodjd said:
I’d use an overnight express mail, USPS or FedEx, where you have guaranteed and documented delivery the next day. And be sure they have it no later than Feb. 24, but sooner is better.
Click to expand...
Do whatever the contract says. It doesn't matter when the letter is received. It only matters when it is postmarked by the USPS. It does not have to be received in ten days--it has to be mailed within ten days.
 
RESCIND NOW. Follow the instructions carefully. Send it via certified mail and get that signature/delivery confirmation.

Here are some good resales to research:

81k points annually. List price is $1500

Timeshare resale at The Westin Kierland Villas, Scottsdale, Arizona - R918865 | RedWeek

Timeshare resale at The Westin Kierland Villas, Scottsdale, Arizona - R918865
www.redweek.com

67.5k points annually. List price is $1,150

Timeshare resale at Sheraton Vistana Villages, Orlando, Florida - R897322 | RedWeek

Timeshare resale at Sheraton Vistana Villages, Orlando, Florida - R897322
www.redweek.com

81k points annually. List price is $1,250

Timeshare resale at Sheraton Vistana Villages, Orlando, Florida - R895128 | RedWeek

Timeshare resale at Sheraton Vistana Villages, Orlando, Florida - R895128
www.redweek.com
 
Karen G said:
Do whatever the contract says. It doesn't matter when the letter is received. It only matters when it is postmarked by the USPS. It does not have to be received in ten days--it has to be mailed within ten days.
Click to expand...
Karen is right.
 
Thank you all for taking time to share your guidance. Your feedback has been extremely valuable and comforting. Amazing community!!
 
R&RTime said:
Thank you all for taking time to share your guidance. Your feedback has been extremely valuable and comforting. Amazing community!!
Click to expand...
Did you rescind?. Please tell me you did. You wanted a Mercedes and they sold you a Ford, because it was less expensive and an easier sell. Not to mention you can’t do much with that amount of star options. Type in Sheraton flex on ebay, you’ll get the same junk for a buck

Rescind immediately and buy a mandatory resort on resale. You can buy it in vistana villages (key west or Bella phase) and book at 8 months at all resorts or you can buy the resort you are most interested in.
 
Last edited:
Karen G said:
Do whatever the contract says. It doesn't matter when the letter is received. It only matters when it is postmarked by the USPS. It does not have to be received in ten days--it has to be mailed within ten days.
Click to expand...

Good advice and absolutely correct. The rescission letter should be sent by certified mail at a USPS counter, where a date stamped receipt will be issued on the spot, providing you with hard copy proof of postmark date.

In other words, don't just toss your rescission letter into the nearest mailbox, where it could potentially sit for a day or two and then maybe not actually get postmarked for a day or two beyond that, by which time your looming postmark deadline could be missed. There is just too much money at stake here to not rescind correctly, so do it right and do it without delay. Tick tock.
 
Last edited:
Make sure everyone who signed the contract signs the rescission letter
 
I am going to be the one to give you a total different perspective based on our own immediate 'buyers remorse' after our purchase in Dec 2019. Its just my husband and myself and I am of retirement age and he will be in a few years - where you are in your life stage is a factor in your decision making. We had a good sales rep who pushed the sale but it took 2 tries. The whole process was all so overwhelming and we soon realized we retained a fraction of the verbal information we should have but I took home the huge manilla folder and spent hours and hours researching all the pro's and con's when we got home. My responses are below and I hope they are helpful to someone here or down the road....

  • HomeOptions 67,100 (Annual) - we started out with 44,000 options for odd bi-annual
  • Vistana Signature Network
  • 9 Resorts - Our primary resort is the Sheraton Desert Oasis in Scottsdale but we have not yet stayed at that location
  • Costs
    • $22,009 - $10,230
    • $845 Closing - $490 (they knocked off $500 from the initial $990 closing since it was end of December 2019)
    • $1316.50 Annual dues - $540.82 with annual assessment + membership fee
    • $109 to bank points -
    • $159 Interval International exchange fee
  • Incentives
    • Bonus StarOptions 134,200 (67,100 x 2) - ours was 44,000 bonus and we rolled them over this year so we have a total of 88,000. The points can go farther if you shop around the resorts at the time you want to go.
    • Unlimited Getaways via Interval International - WE USE THIS OPTION THE MOST and have found great deals during the pandemic of 2020! I have used for the Westin Kierland Premium Villa in Scottsdale for $325 total for a week during the off season. Also received a reward certificate from Interval that we used in February on a 2 bedroom lock off at the Marriott Grand Vista Resort in Orlando when it was below zero here at home in Iowa. These interval deals can me passed on to your family and friends if you choose to transfer to a guest.
    • Marriot Bonvoy
      • Gold Elite Status for life - its a good thing on resorts or for 25% off a regular hotel stay! If you book 4 or more nights you get the 5th night free!
  • Additional
    • Signed up for Marriott Bonvoy Brilliant Amex Card
      • Made Flex Vacation purchase on card so it comes out to ~207,054 Bonvoy points (75k for Amex sign up and 6x Bonvoy points on $22k purchase).
    • Additional week added in Interval International - We did NOT need another credit card but it was part of the 'deal' to get the most for jumpstarting on points. I now use it basically as our main' debit card' meaning all of our purchases and online home bills and medical payments are all done with this card. We have racked up almost 400,000 points the first year which can get you into a week or two in many resorts anywhere just by using the card! We used some to book a week at Marriott Desert Springs resort over New Years but then (again) the pandemic put a stop to that when Calif closed down.
Bottom line - if you want to make a plan to travel and you do your homework you can make this Vistana Vacation Ownership work for you. If I find a good deal and my husband can't get away from his work then I go myself or invite family to join me. We have been treated so fabulously by the Marriott staff at each property that we have visited.
 
passportdiane said:
I am going to be the one to give you a total different perspective based on our own immediate 'buyers remorse' after our purchase in Dec 2019. Its just my husband and myself and I am of retirement age and he will be in a few years - where you are in your life stage is a factor in your decision making. We had a good sales rep who pushed the sale but it took 2 tries. The whole process was all so overwhelming and we soon realized we retained a fraction of the verbal information we should have but I took home the huge manilla folder and spent hours and hours researching all the pro's and con's when we got home. My responses are below and I hope they are helpful to someone here or down the road....

  • HomeOptions 67,100 (Annual) - we started out with 44,000 options for odd bi-annual
  • Vistana Signature Network
  • 9 Resorts - Our primary resort is the Sheraton Desert Oasis in Scottsdale but we have not yet stayed at that location
  • Costs
    • $22,009 - $10,230
    • $845 Closing - $490 (they knocked off $500 from the initial $990 closing since it was end of December 2019)
    • $1316.50 Annual dues - $540.82 with annual assessment + membership fee
Bottom line - if you want to make a plan to travel and you do your homework you can make this Vistana Vacation Ownership work for you. If I find a good deal and my husband can't get away from his work then I go myself or invite family to join me. We have been treated so fabulously by the Marriott staff at each property that we have visited.
Click to expand...
You have all this expertise from a COVID year of travels?
 
passportdiane said:
I am going to be the one to give you a total different perspective based on our own immediate 'buyers remorse' after our purchase in Dec 2019. Its just my husband and myself and I am of retirement age and he will be in a few years - where you are in your life stage is a factor in your decision making. We had a good sales rep who pushed the sale but it took 2 tries. The whole process was all so overwhelming and we soon realized we retained a fraction of the verbal information we should have but I took home the huge manilla folder and spent hours and hours researching all the pro's and con's when we got home. My responses are below and I hope they are helpful to someone here or down the road....

  • HomeOptions 67,100 (Annual) - we started out with 44,000 options for odd bi-annual
  • Vistana Signature Network
  • 9 Resorts - Our primary resort is the Sheraton Desert Oasis in Scottsdale but we have not yet stayed at that location
  • Costs
    • $22,009 - $10,230
    • $845 Closing - $490 (they knocked off $500 from the initial $990 closing since it was end of December 2019)
    • $1316.50 Annual dues - $540.82 with annual assessment + membership fee
    • $109 to bank points -
    • $159 Interval International exchange fee
  • Incentives
    • Bonus StarOptions 134,200 (67,100 x 2) - ours was 44,000 bonus and we rolled them over this year so we have a total of 88,000. The points can go farther if you shop around the resorts at the time you want to go.
    • Unlimited Getaways via Interval International - WE USE THIS OPTION THE MOST and have found great deals during the pandemic of 2020! I have used for the Westin Kierland Premium Villa in Scottsdale for $325 total for a week during the off season. Also received a reward certificate from Interval that we used in February on a 2 bedroom lock off at the Marriott Grand Vista Resort in Orlando when it was below zero here at home in Iowa. These interval deals can me passed on to your family and friends if you choose to transfer to a guest.
    • Marriot Bonvoy
      • Gold Elite Status for life - its a good thing on resorts or for 25% off a regular hotel stay! If you book 4 or more nights you get the 5th night free!
  • Additional
    • Signed up for Marriott Bonvoy Brilliant Amex Card
      • Made Flex Vacation purchase on card so it comes out to ~207,054 Bonvoy points (75k for Amex sign up and 6x Bonvoy points on $22k purchase).
    • Additional week added in Interval International - We did NOT need another credit card but it was part of the 'deal' to get the most for jumpstarting on points. I now use it basically as our main' debit card' meaning all of our purchases and online home bills and medical payments are all done with this card. We have racked up almost 400,000 points the first year which can get you into a week or two in many resorts anywhere just by using the card! We used some to book a week at Marriott Desert Springs resort over New Years but then (again) the pandemic put a stop to that when Calif closed down.
Bottom line - if you want to make a plan to travel and you do your homework you can make this Vistana Vacation Ownership work for you. If I find a good deal and my husband can't get away from his work then I go myself or invite family to join me. We have been treated so fabulously by the Marriott staff at each property that we have visited.
Click to expand...
Thank you, Diane. There's a lot to consider. This community has been amazing. You are correct. Where we are in our life is a factor in this decision. Thank you again for your detailed response.
 
R&RTime said:
Thank you, Diane. There's a lot to consider. This community has been amazing. You are correct. Where we are in our life is a factor in this decision. Thank you again for your detailed response.
Click to expand...
Did you and up rescinding?
 
@passportdiane and @R&RTime -- this Year of Covid has created weird results. In the arena of Getaways, there is extraordinary availability at prime resorts because many people are not traveling, people are not using their units, and those units are available when they would not be available in ordinary times. This is not normal and should not be considered representative of what Getaways are available in future years.

Just saying.
 
Wow, passport diane's first post was to tell someone not to rescind. The smart thing to do is rescind and buy resale. If you like the system, buy something in that system that is mandatory staroptions.
 
Hi All, I just wanted to share with the group that our rescission letter went out yesterday. However, there seems to be a shipping delay due to the inclement weather in NJ. It was shipped USPS overnight express with return receipt. We also shipped separately the Amazon Fire tablet and beach bag that was given to us as part of the purchase.
 
rickandcindy23 said:
Wow, passport diane's first post was to tell someone not to rescind. The smart thing to do is rescind and buy resale. If you like the system, buy something in that system that is mandatory staroptions.
Click to expand...
We rescinded yesterday but it was good to hear Diane's perspective as well. Just waiting for the letter to arrive in Florida.
 
R&RTime said:
We rescinded yesterday but it was good to hear Diane's perspective as well. Just waiting for the letter to arrive in Florida.
Click to expand...


As long as you retain the Postmark you should be all set, even if your rescission letter doesn't show up for a week. It's the date of the Postmark which rules the roost.

Smart move to rescind.


Go out and celebrate. :cheer::banana::wave::)



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