Advice with recession

[theo]

Yessa!

First, we would like to thank the TUG website, it's members and moderators (THEO!) If not for you we would have pulled our hair out and perhaps given up on getting our refund.

I am not a moderator (and I don't play one on TV) but thanks for your kind words. It's always gratifying to help someone get successfully through a developer-purchase rescission and get them out of the greedy clutches of lying, hungry and deceitful sales weasels who will say almost anything to "close the deal".

Not that many years ago, rescission (a.k.a. "cooling off" period) state laws didn't really even exist at all. Count your blessings that these laws are in place (albeit with varying time periods) in the U.S. today and that you were astute enough to take advantage of the protection they provide --- before it was too late. Well done.

 

[TimeToRun]

First, we would like to thank the TUG website, it's members and moderators (THEO!) If not for you we would have pulled our hair out and perhaps given up on getting our refund. Sometimes just being able to "talk" and get sensible advice and see that others are going through the same thing helps. It did take over a month but we were able to get 100% of our money back. Now on to the more fun part of the website, looking for a vacation place that isn't going to be a sales pitch and a rip-off.
Thanks again TUGS
Jim & Lisa

Amen!! We feel the same way! After our house sells we are going to purchase exactly what we want, on terms we can live with. Thank you all!

 

[Onehotbike]

I want to rescind a time share with Holiday Inn Club Vacation in Orlando Florida. I've researched how to do this on TUG. This is the letter I have come up with:

May 21, 2014
Attention Customer Service / Quality Assurance,
Re: Rescission of Contract xxxxxxx

To:
SELLER/DEVELOPER:
Orange Lake Country Club, INC.
8505 W. IRLO BRONSON MEMORIAL HWY.
KISSIMMEE, FLORIDA 34747
ORLANDO (407) 239-0000

Cc:

Escrow Agent:
FOLEY AND LANDER
111 North Orange Avenue, Suite 1800
Orlando, Florida 32801

Regarding contract "xxxxxxx" dated x/xx/xxxx for purchase of a timeshare at "Orange Lake Resorts Country Club Villa III, a condominium” week x unit xxxx. We are exercising our legal right to cancel this contract. We expect a full refund of our deposit of "$x,xxx.xx" Do not make any additional charges to my credit card ("credit card name" ending in xxxx). Please confirm my legal rescission in writing.

Sincerely,

John Husband

Jane Wife

Address:
123 Main St.
Any Town, USA. xxxxx-xxxx


I have read the cancelation policy and it refers to Florida Statutes section 721.08 and that statute refers me to 721.10 which says to mail the letter to the developer or the escrow agent. I thought I would mail one to each of them (certified). Does this seem sufficient. Should I contact a lawyer in Florida?
Thanks!

Thanks I used your format just been suckered this week but TUGS helped and so did your well written letter. Can't what to buy a resale after a little more research

 

[brucecz]

I would suggest that the newer readers read Tug an other websites for at least 1 month to gain knowledge. Then if there is a resort you are interested first before buying, rent at that resort.

One way to learn about resorts is join Tug and get access to Tugs members reviews in the Tug review section. Bruce

 

[Rheart76]

I am just days out of the ression period to cancel am I screwed

 

[Passepartout]

I am just days out of the ression period to cancel am I screwed

Maybe. It might depend on what system you bought into. Some are more strict than others. And your circumstances might also be an issue. If you truly are a hardship and buying a timeshare would keep your kids out of school, or a recent diagnosis of life-threatening illness, as opposed to simply finding out that you could have bought it for pennies on the dollar. If you just paid too much and you can still afford the purchase, you won't get much sympathy.

Jim

P.S. Our usual advice is to submit a letter of rescission even if it is later than the law requires. It just might work. And if you don't send one, you are surely on the hook.