Rescinding HVC / Diamond (?) Contract Questions

[CeleryStalk29]

Just found out about this forum and thinking about rescinding. In my purchase agreement it showed 5 days to rescind while my addendum for my home state showed 7, which ones does it go by? Also there is an additional form about receipt in Florida that shows a different address if I want to rescind. They are both in Las Vegas, NV.

So the rescind information for purchase agreement shows 5 days and X address, home state addendum shows 7 days and X address, and Florida timeshare receipt shows number of days on purchase contract (I guess 5?) and Y address.

They make it so confusing to get you haha.


What I’m planning to do is fax and send USPS certified to the address on purchase agreement/home state addendum within 5 days. Any thoughts?

 

[HuskerATL]

is this for a Diamond property or HGVC? For HGVC, I would go by what is in the contract. I think that I would work off the contract info and use the X address. It is the mail date not receive date and send certified USPS. Some contracts have a page that you just sign and return to rescind, others don't. If it doesn't then just say that you want to rescind, put your contract #, property, contract date, your name/s, and sign (both if more than one).

For Diamond properties, I assume it is the same but you might want to ask the Diamond/Hilton Vacation Club forum on TUG.

 

[CeleryStalk29]

is this for a Diamond property or HGVC? For HGVC, I would go by what is in the contract. I think that I would work off the contract info and use the X address. It is the mail date not receive date and send certified USPS. Some contracts have a page that you just sign and return to rescind, others don't. If it doesn't then just say that you want to rescind, put your contract #, property, contract date, your name/s, and sign (both if more than one).

For Diamond properties, I assume it is the same but you might want to ask the Diamond/Hilton Vacation Club forum on TUG.

I believe I was buying the points/membership so it’s not a physical location? It was bought at a HGVC location, but the documents and rescind address have Diamond Resorts all over them.

The documents have two different days to rescind within 5 days and 7 days. I guess because my home state has different laws. Does it go by my home state in this case?

 

[CeleryStalk29]

Not sure how to edit yet… but there was no page I needed to sign for rescinding. Just said to send a letter to an address within the time frame.

 

[HuskerATL]

I will let others answer about the home state rules. We have always gone by the contract date. When did you close?

Sounds like you bought into the Diamond Trust and it should say which Collection, like the US Collection, Hawaii Collection, etc. In DRI, you don't buy into a specific property like you do in HGVC.

 

[HuskerATL]

Not sure how to edit yet… but there was no page I needed to sign for rescinding. Just said to send a letter to an address within the time frame.

Then just type/write out a simple letter with the info that I provided. Doesn't need to be complex. As long as they can find your contract and it is within the period to rescind, then you should be fine. I would do it now though.

 

[CeleryStalk29]

I will let others answer about the home state rules. We have always gone by the contract date. When did you close?

Sounds like you bought into the Diamond Trust and it should say which Collection, like the US Collection, Hawaii Collection, etc. In DRI, you don't buy into a specific property like you do in HGVC.

Yep it says Diamond US Collection. The closing date was yesterday 11/6.

 

[HuskerATL]

Yep it says Diamond US Collection. The closing date was yesterday 11/6.

you are fine then. I guess that you are still on vacation? Often, folks get home after the period to rescind, find this group, but are stuck.

 

[HuskerATL]

I am not a fan of the trust points but others like it. After you rescind and if you still want to buy into HGVC, I would by a resale and now is a good time to do it because current owners want out before paying maintenance fees, which are due Jan 1st. You can buy a resale deed for about 10% of the retail cost at HGVC. Buying resale DRI is a different discussion though so I would ask the DRI group about that.

 

[CeleryStalk29]

you are fine then. I guess that you are still on vacation? Often, folks get home after the period to rescind, find this group, but are stuck.

I am still on vacation, but have some time to fax it tonight. Will also send a USPS letter tomorrow.
Yeah that sucks luckily I did more research into it the night of purchase. And for anyone else wondering it was around 8k points for $30k MF $2k.

 

[claraj]

@CeleryStalk29 congrats on finding us.

@TUGBrian this doesn't get old.

 

[HuskerATL]

if you fax, I would also send via certified USPS. You need the ability to show it was delivered. Fax won't do that..or they can say they didn't get it. HGVC and Hilton Club are really good about accepting them but I don't know as much about DRI/HVC.

8k points for $30k MF $2k.

ugh...that is almost as much as we have paid for over 100k points. We have paid about $42k total. I literally just gave away a 8k deed.

 

[CeleryStalk29]

if you fax, I would also send via certified USPS. You need the ability to show it was delivered. Fax won't do that..or they can say they didn't get it. HGVC and Hilton Club are really good about accepting them but I don't know as much about DRI/HVC.

ugh...that is almost as much as we have paid for over 100k points. We have paid about $42k total. I literally just gave away a 8k deed.

Definitely going to do both. With the fax I’m hoping to get it started since it can reach them faster. Do they usually confirm receipt of the cancellation?

its crazy i thought I was getting a good deal LOL.

 

[HuskerATL]

Some examples on the TUG marketplace similar to what you bought. I would look for a platinum deed though, like the one at the bottom

 

[CeleryStalk29]

Can we move this topic to DRI forum?

 

[CeleryStalk29]

Some examples on the TUG marketplace similar to what you bought. I would look for a platinum deed though, like the one at the bottom

View attachment 83804

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Wow so 1000 for what I was gonna pay 30000 with double the fees

 

[HuskerATL]

Definitely going to do both. With the fax I’m hoping to get it started since it can reach them faster. Do they usually confirm receipt of the cancellation?

its crazy i thought I was getting a good deal LOL.

Most don't. You just find out later that you were refunded your deposit. The sale's person may call you to try to get you to buy it or something else....do not talk to them. The finance office may respond. Hawaii provides an email address and when we rescinded there, via email, they acknowledged it.

 

[HuskerATL]

Wow so 1000 for what I was gonna pay 30000 with double the fees

yep.

 

[HuskerATL]

Yes, one of the moderators will see it, @GT75 , and can move it.

 

[HuskerATL]

if you do start looking, ask this group. There are different approaches to ownership, whether you want a specific hard to book location or just cheap points to use anywhere so this group can provide guidance.

 

[CeleryStalk29]

Most don't. You just find out later that you were refunded your deposit. The sale's person may call you to try to get you to buy it or something else....do not talk to them. The finance office may respond. Hawaii provides an email address and when we rescinded there, via email, they acknowledged it.

Good to know. Will update here if I get a response or not.

 

[HuskerATL]

Not sure how to edit yet

lower left of the comment box is a edit link.

 

[brp]

if you do start looking, ask this group. There are different approaches to ownership, whether you want a specific hard to book location or just cheap points to use anywhere so this group can provide guidance.

Ans also consider becoming a Member and helping to support this great site.

Cheers.

 

[GT75]

Can we move this topic to DRI forum?

Congratulations on doing research. I am sure that you will be happy that you did. btw, I did move it for you.

 

[CeleryStalk29]

Congratulations on doing research. I am sure that you will be happy that you did. btw, I did move it for you.

Thank you