How do I get the best from my purchase?

[makingmemories]

Hi!

My husband & I literally signed the paperwork today on 76,500 points yearly for a 1-bedroom at Split Rock Resort in Lake Harmony in the Poconos. I grew up going to Sheraton Vistana Resort with my parents & we like the option of using free day passes as owners whenever we want since the resort is only 1-hour from my home & the maintenance fees are only $377.

My question is, will I be able to use it for exchanging? Or should I plan on using only at my home resort if it's not much in demand? We usually take 2 vacations per year, one in the summer to the OBX/OC, MD & one in the winter to Disney or an Island. We have 2 small children & like to experience the world with them. I'm comfortable with our decision & the cost, just want to know the perks that amount of points will provide through Interval. How do I become a savvy timeshare user?

Thanks for your help!
~Tara

 

[DeniseM]

Hi Tara, and welcome to TUG.

Did you buy from the developer, at the resort? Then my best advice to you is to rescind and get your money back immediately.

You can buy timeshares at this resort (and most resorts in this area) for nearly free on the resale market.

How to rescind: http://tug2.net/timeshare_advice/cancel_timeshare_purchase.html

 

[DeniseM]

Here is a list of eBay Ads for PA timeshares starting at $1:

http://www.ebay.com/sch/Timeshares-for-Sale-/15897/i.html?State%2FProvince=Pennsylvania

It is perfectly legitimate to buy timeshares on eBay - I have bought all but one of my 13 TS's on eBay.

Also - 76,500 is a small amount of points, so it won't get the trades you want either.

 

[Passepartout]

So, in other words, getting the most of your purchase might involve rescinding it and starting over with a more usable bucket of points acquired via resale.

In answer to Tara's use questions, resale points act just like developer-bought points regarding perks like day use, or exchanging. You will need more points than you bought to get exchanges that cost more points- or combine multiple years' allotment for one 'nicer' vacation. Obviously, more points will result in higher maintenance fees.

Hope this clears it up for you.

Jim

 

[taterhed]

As the others have said above, if you're not aware of the difference between developer and resale purchase etc.... you need to be.

Nobody is trying to 'talk you out of' buying at the resort, you just need to understand your options--all of them--before signing up for a life-long commitment that gets more expensive every year.

Again--rescind now and determine what the best option is for you and your family's vacation needs and the best value for reaching those goals.

If you don't know what 'rescind' means or how to do it.....post specific details (dates, location of purchase) and this forum will help you to make a smart decision.

cheers.

 

[theo]

OP: I agree wholeheartedly with the wise input from others above that the appropriate first step is probably to rescind (cancel) this developer-direct purchase while you still can. Applicable state law provides a very specific and finite amount of time for you to do so, so don't delay if that is your intent and choice. I will look up the PA rescission time period and add that info to this post as an edit to this reply in just a few minutes.

After you rescind the developer-direct purchase (for which you have undoubtedly agreed to pay far too much money), you can almost certainly acquire the exact same thing on the resale market for just a tiny fraction of the developer-direct figure for which you signed on the dotted line.

P.S. It appears that the applicable state law rescission period in PA is 5 days. Since the relevant language is less than clear, you should probably assume for your own protection that this means 5 calendar days (i.e., not 5 business days); in other words, weekend days may very well count in the allotted rescission period.

By law, you should have been provided with rescission instructions with (or within) your contract. Go through all of your paperwork, find that information and follow the instructions precisely. If the instructions specify the use of certified mail, use it; don't ad lib by using email, FedEx, or carrier pigeon instead. Good luck.

 

[falmouth3]

I was in line at 6 Flags yesterday. We overheard the couple behind us in line telling the couple behind them about how they had bought a timeshare. Hadn't used it yet but they were thrilled with their purchase. Since the damage was already done, I didn't say anything. Oh, but I was so tempted...

 

[presley]

I'm comfortable with our decision & the cost, just want to know the perks that amount of points will provide through Interval. How do I become a savvy timeshare user?

I won't tell you to rescind since you are obviously very happy with your purchase. I will say that it is important to know exactly what you bought and how to use it. You want to know all that before it is too late to cancel the sale because if you figure out next month that it isn't what you wanted, you may end up having to sell it for $1. and buy something else.

The points in Interval is somewhat of a new thing. There aren't many posters here who have that or post about it. If you have any questions about regular week trades or buying additional Getaways from interval, you'll probably get a lot of responses. You may want to start a thread in the Exchanging forum that is specifically about Interval points exchanging.

If you are using your real name as your user name, I highly suggest that you message an Administrator and change your name. The people who post here are a friendly and helpful bunch, but there are people who read here who aren't as friendly and helpful and the last thing you need is some weirdo looking you up in the internet.

 

[WinniWoman]

I won't tell you to rescind since you are obviously very happy with your purchase. I will say that it is important to know exactly what you bought and how to use it. You want to know all that before it is too late to cancel the sale because if you figure out next month that it isn't what you wanted, you may end up having to sell it for $1. and buy something else.

The points in Interval is somewhat of a new thing. There aren't many posters here who have that or post about it. If you have any questions about regular week trades or buying additional Getaways from interval, you'll probably get a lot of responses. You may want to start a thread in the Exchanging forum that is specifically about Interval points exchanging.

If you are using your real name as your user name, I highly suggest that you message an Administrator and change your name. The people who post here are a friendly and helpful bunch, but there are people who read here who aren't as friendly and helpful and the last thing you need is some weirdo looking you up in the internet.

I use my real name.

 

[HudsHut]

I'm showing you a "completed" listing link from the resort you just bought.
http://www.ebay.com/itm/2-BEDROOM-W...636842?hash=item58dceced6a:g:WJwAAOSwUuFWxfRV

This one sold for $1. You could get a 2br at this resort for $1, if you set up a search on ebay, and wait patiently.

Please rescind immediately. Place the letter in the mail tomorrow.

Thank your lucky stars you found us within your rescission period.

 

[DeniseM]

Unfortunately, the OP has not come back to TUG since her post last night. In fact, she logged off right after posting, so not sure if she saw any of the responses.

 

[makingmemories]

Thanks so much for those responses! I'd googled a few offers at the resort for resale & they weren't far off from the price we paid, so I'd thought the timeshares were holding their value. Turns out, those are for 2 bedrooms, not 1 bedrooms & I had no idea about the availability on eBay. Thanks to you all for saving us so much money! I found a recission letter on here & sent it today following all of the directions...

 

[makingmemories]

Exactly the info I needed. Again, thank you very much!

 

[makingmemories]

If you are using your real name as your user name, I highly suggest that you message an Administrator and change your name. The people who post here are a friendly and helpful bunch, but there are people who read here who aren't as friendly and helpful and the last thing you need is some weirdo looking you up in the internet.

Point taken, will do.

 

[falmouth3]

Thanks so much for those responses! I'd googled a few offers at the resort for resale & they weren't far off from the price we paid, so I'd thought the timeshares were holding their value. Turns out, those are for 2 bedrooms, not 1 bedrooms & I had no idea about the availability on eBay. Thanks to you all for saving us so much money! I found a recission letter on here & sent it today following all of the directions...

Smart move. Congratulations.

 

[taterhed]

Exactly the info I needed. Again, thank you very much!

Glad we could help.

Let me say: a timeshare could be a wonderful thing for you and your family/friends. Just take a bit of time (after the rescission) and figure out what fits your vacation needs, financial abilities and desires.

Once you've calmed down and have time to review, consider filling out the "what to buy for newbies..." questions in the link below and find out what is right for your vacation goals and desires. Be as honest as possible. Timeshares offer a great solution for spending time with family and/or loved ones () and making lasting memories.

What to buy for newbies....
http://tugbbs.com/forums/showthread.php?t=208742

Welcome!

ps: consider becoming a member of TUG, it's the best $15 you'll ever spend.

 

[makingmemories]

Once you've calmed down and have time to review, consider filling out the "what to buy for newbies..." questions in the link below and find out what is right for your vacation goals and desires. Be as honest as possible. Timeshares offer a great solution for spending time with family and/or loved ones () and making lasting memories.

What to buy for newbies....
http://tugbbs.com/forums/showthread.php?t=208742

Welcome!

ps: consider becoming a member of TUG, it's the best $15 you'll ever spend.

I joined right after we purchased, literally on my phone at the table, lol. Thanks for that link. I'm happy I have the chance to do things right, since I love using my parent's timeshare & want my children to have the same memories.

 

[DeniseM]

Hi Tara - Glad to hear you rescinded!

When you get a chance, here are some questions for you to answer to focus you goals:

http://www.tugbbs.com/forums/showthread.php?t=208742

 

[taterhed]

I joined right after we purchased, literally on my phone at the table, lol. Thanks for that link. I'm happy I have the chance to do things right, since I love using my parent's timeshare & want my children to have the same memories.

Great! Sorry, can't see the 'member' badge from tapatalk.

Good hunting!

 

[joestein]

We stayed at the Split Rock Resort in Lake Harmony a couple of years ago for a long weekend.

I would be hesitant to own anything there as the resort is in terrible shape. I would be very concerned about large assessments. It looks like the resort must have been grand when built in the 70's (I guess since that is what the décor looks like) but it looks like maintenance has been lacking since.

Plus the units themselves had old furniture and appliances. Plumbing was messed up as well. We were glad we only paid about $100 to stay for the 2 nights.

 

[artringwald]

If you are using your real name as your user name, I highly suggest that you message an Administrator and change your name. The people who post here are a friendly and helpful bunch, but there are people who read here who aren't as friendly and helpful and the last thing you need is some weirdo looking you up in the internet.

Great, now you tell me. Maybe I haven't been bothered by the weirdos because I'm weirder than they are. Or maybe they know my cousin Molly's bodyguard would go after them. I've never worried about privacy because I've always assumed that in these days, no matter what you do, there really isn't much privacy.

 

[amycurl]

Great photos on your FB page, Art! Is your cover photo from P@P?

OT: I am glad that the OP rescinded. Since day use was one of the ways that they were planning on getting value out of their purchase, they double-check to make sure that will convey with a resale purchase. (For some places it will, for some it won't.)

 

[artringwald]

Great photos on your FB page, Art! Is your cover photo from P@P?

The cover photo on my FB page I took from our table at Duke's Beach House on Maui. It was our last night in Hawaii, sniff, sniff.

Here's some photos from P@P:

artringwald.smugmug.com/Travel/The-Point-at-Poipu/

 

[makingmemories]

We stayed at the Split Rock Resort in Lake Harmony a couple of years ago for a long weekend.

I would be hesitant to own anything there as the resort is in terrible shape. I would be very concerned about large assessments. It looks like the resort must have been grand when built in the 70's (I guess since that is what the décor looks like) but it looks like maintenance has been lacking since.

Plus the units themselves had old furniture and appliances. Plumbing was messed up as well. We were glad we only paid about $100 to stay for the 2 nights.

With more research i'm learning the same as well. They've just been acquired by a new developer, who is quickly updating the property. So far the maintenance fees haven't increased too much, but I realize that can change at any time. Thanks for pointing that out!