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[merged] Need help with letter of rescind for timeshare

Discussion in 'New to Timesharing? Look Here!' started by groovey, May 31, 2009.

  1. groovey

    groovey Guest

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    Ok everything was going great in Vegas until my gf dragged me into one these dam pitch sessions to buy a time share from Westgate Resorts:mad:

    Ok so I know I have 5 calender days to get out,but what has to said and described in the letter?

    This is what the provision states for cancellation

    NRS 119A.410 Right to cancel contract of sale.

    1. The purchaser of a time share may cancel, by written notice, the contract of sale until midnight of the fifth calendar day following the date of execution of the contract. The contract of sale must include a statement of this right.

    2. The right of cancellation may not be waived. Any attempt by the developer to obtain a waiver results in a contract which is voidable by the purchaser.

    3. The notice of cancellation may be delivered personally to the developer or sent by certified mail, return receipt requested, to the business address of the developer.

    4. The developer shall, within 15 days after receipt of the notice of cancellation, return all payments made by the purchaser.

    (Added to NRS by 1983, 982; A 1985, 1141; 1987, 894; 2003, 984; 2007, 1549)


    Does the property have to described?

    And sample letter would be a great help even one that you fill in the blanks.


    Also there are two address's

    One states

    when recorded mail tax statements to

    Planet Hollywood Towers by Westgate Condominum
    Owners Association Inc a
    Nevada nonprofit corporation
    80 East Harmon Avenue
    Las Vegas Nevada 89109


    Return Original to
    Equity Land Title LLC
    Timeshare Division
    9440 West Sahara Ave #235
    Las Vegas Nevada 89117
     
  2. Dave M

    Dave M TUG Lifetime Member

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    The letter need not be complex or detailed. Simply state that "I [or "we"] hereby cancel the Planet Hollywood purchase I made on May XX, 2009. Please promptly refund my deposit in accordance with Nevada law." Each of you, if you were both signers to the contract, must sign the letter. Then send it certified mail (not registered mail or overnight via Fed Ex or another carrier), as instructed.

    I'm not sure of the address. But it should definitely go to the developer, not to the closing company (Equity Land Title). There should be a section near the end of the contract (not the closing instructions) that specifies something like "All correspondence pertaining to this agreement should be addressed to...." If you aren't sure, call the sales office and ask.

    You can also fax a copy of the recision, but be sure to send the original via certified mail.

    Also, for purposes of maintaining good relationships with your GF, don't blame her. I'm guessing it was you who signed the contract to make the purchase. :)
     
    Last edited: May 31, 2009
  3. groovey

    groovey Guest

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    Thanks one last question. I know I need keep a copy of the letter that is being do I make a copy of the contract? Ok to I keep the original?

    Also I also read somewhere where they charge like 50.00 for the leather briefcase with all the paperwork that was given to us.

    How do I send that back?
     
  4. Dave M

    Dave M TUG Lifetime Member

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    You don't need to send the contract back. In fact, you shouldn't. As for the briefcase, you should call and ask.
     
  5. 1950bing

    1950bing Guest

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    keep it, you sat through it.
     
  6. Ernie

    Ernie TUG Member

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    Thats right Keep it. I believe on the back of the first page it states that they can charge you for any tickets you may have received or free dinners and so on, but a small price to pay if you can get out of the timeshare.
     
  7. AwayWeGo

    AwayWeGo TUG Review Crew: Expert TUG Member

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    [triennial - points]
    That Is Semi-Odd.

    So if I show up for the tour & I get the old hard sell & I say No Thanks, then I get to keep the tickets & free dinners & so on.

    But if I say OK & I sign on the line & later I rescind, then I've got to give all that stuff back.

    Makes no sense whatever.

    -- Alan Cole, McLean (Fairfax County), Virginia, USA. ​
     
  8. ScoopLV

    ScoopLV Guest

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    And probably not legal either. I'm sure this clause could invalidate the whole contract. Be that as it may, it's probably there to keep the rescission rates low.

    My question would be, "How badly do you want to get out of this contract?" If sending the gifts back improve the chances of getting out of the contract, by all means.


    Nothing a timeshare company "gives" you is worth the aggravation. I wouldn't attend a timeshare presentation for a stack of hundred-dollar bills. When we go on vacation, we go on vacation. A timeshare presentation can combine all the worst aspects of buying a used car, and an IRS audit. I don't care if they were handing out Ferraris. The answer is, "No thanks."
     
  9. groovey

    groovey Guest

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    I just sent the letter today telling them to stick it!!

    I am waiting for confirmation that the rescission letter was received,then I start asking why there was no paper work that stated that I was able to rescind the contract and how I was suppose to go about it.

    I believe that if half of what they where selling about owning was true then owning a timeshare is a great vehicle to travel around the world.


    I will do my due diligence next time.

    It has definitely left a very bad taste in my mouth.:mad:


    And the only reason I knew about the "cooling" off period was the fact I did spent time in sales and knew about buyer's remorse.

    Here the things that pissed me off.

    1 No paper explaining or telling me I was able to get out of it.
    2 Telling me the seller has rights too when I got back home and telling me the "board" would have to get back to me on the decision about giving me a refund.
    3 Wasting 5 hrs my last day in Vegas.
     
  10. Dave M

    Dave M TUG Lifetime Member

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    First, why bother? You'll get your money back and you should move on rather than waste your time.

    Second, you'll find the option to rescind within five days in the contract you signed, not in any other paperwork you might have received. Others who have bought at Planet Hollywood have quoted the recision language from the contract, which is not a quote of state law as you included in your first post. You should normally find the brief language somewhere near the end of the contract - somewhere on the last several pages. I can assure you it's there. If it were not, they would get fined big time by the state of Nevada for violating state law, since the statement is required to be included in every contract.
     
  11. ecwinch

    ecwinch Moderator

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    Is #2 something they told you when you rescinded?
     
  12. theo

    theo TUG Review Crew: Veteran TUG Member

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    Live and learn and move on...

    Well, you've initiated cancellation and that's the important thing.
    Be grateful that you did so in time...

    If you look more closely, you might actually find cancellation provisions and instructions tucked in somewhere toward the end of the contract document. As far as I know, it's a legal requirement that the cancellation information be overtly provided to you. In any case, rescission within a defined time period is a legal right provided to you by law --- it's not an act of "voluntary benevolence" on the part of the developer. It matters not one bit what words a sales weasel may have proferred on the matter...

    Don't get too worked up about what a sales weasel may have "told" you.
    Empty, untrue words are common from the moouths of sales weasels.
    You may well have wasted the 5 hours, but with all due respect you chose to do so. I'd suggest just letting it go as a valuable "life lesson" once your cancellation and refund is processed. :shrug:
     
  13. timeos2

    timeos2 Tug Review Crew: Rookie TUG Lifetime Member

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    You made the best decision possible after a bad spur of the moment one (buying any retail priced timeshare but multiply that error by 1000 percent when you are talking any Westgate purchase) to rescind on a big error in judgment.

    Realize now that nothing you can say/do to the seller will change anything - water off a ducks' back as they hear it everyday probably 100's of times. All they care about is getting the sale and getting it past the rescind period. What happened before or after that magic moment they couldn't care less.

    But don't stop there. Now you've seen the great potential of timeshare so do your homework and buy a resale (I'd STILL avoid anything that has Westgate in it's heritage) that will give you much better value for the dollar spent and you get everything promised as far as benefits - maybe more - without the unrecoverable and unbelievably expensive upfront purchase price. Buying resale is the only way to make timeshare a value proposition.

    Then, if you are so inclined, continue to hang around the TUG boards and be a voice to warn others about the nightmare that is Westgate. They stand alone as THE worst timeshare organization in an already shady business from my experience and it is a public service to try to help others see the problems before they too get suckered into an ownership with that group. THAT, unlike wasted time trying to get Westgate management to change their underhanded ways, may actually make a difference.

    Congratulations on seeing the light in time and saving yourself a long and financially draining experience had you not rescinded this ill-advised purchase.
     
  14. keninny

    keninny TUG Member

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    I found the cancellation requirements clearly spelled out in my contract. Had to actually read it to find them, but they were there. Including the note that they would charge (deduct from any refund) $50 if the Interval catalog and any DVD's were not returned. Prices for any gifts received as a result of the contract were also listed. Just had to read more.
     
  15. groovey

    groovey Guest

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    I resinded the contract but only received partial refund what gives?

    I was refunded 80 dollars less then my down payment.

    I know the breakfast was going to be deducted from my deposit that was 30 what are these dirt bags deducting the other 50 for?
     
    Last edited: Jun 15, 2009
  16. Jennie

    Jennie TUG Member

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    Well, what do they say it was for? Is this a timeshare in the U.S.? Which state? Some states are more consumer-friendly than others.

    Why would you assume that you even owe $30. for a breakfast. If it was part of the sales presentation, or an incentive for attending, it shouldn't be on your dime.

    Depending upon the rest of your story, it seems that you should be able to dispute the extra charges with your credit card company if it's not more than 60 days since the charge was made. Otherwise you may have to file a complaint with the government agency that has jurisdiction over timeshare sales in that state.

    One timeshare company, in Branson I think, got into a lot of trouble for telling people that they couldn't rescind at all because they had used free dinner coupons that were given as part of the "welcome package" they received when the sales contract was signed. The court set them straight on that nonsense big time.
     
  17. theo

    theo TUG Review Crew: Veteran TUG Member

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    Just maybe...

    With only limited facts or details provided, I'll just speculate a bit...

    Did the sales weasel(s) issue to you any sort of "new owner package" of materials which you subsequently failed to later return? If so, they may very well have the lawful right to now charge you for keeping those unreturned items, intended for retention only by a new actual owner (...which you are not, after rescinding --- a good thing). :shrug:
     
    Last edited: Jun 15, 2009
  18. keninny

    keninny TUG Member

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    I don't know what resort you are complaining about but I can tell you that Westgate clearly spells out any charges to be paid in the event of contract cancellation. Its written in the small print of the contract, but it is there, you just have to read it. $15 per adult for the 'owners breakfast' if you attend, $50 for the II directory, and reskort DVD if they are not returned.

    About a week after cancellation, they send out a statement listing the charges, and give you another opportunity to return the directory if you haven't already done so.
     
  19. groovey

    groovey Guest

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    You nailed it right on the head, they claim that they never received the brief case, thank God I did send it via signature confirmation now I have to resubmit proof this time its going to be faxed then just to make sure I am going to hit the report button on the fax to make sure they received the fax as well, what a bunch of weasels!!
     
    Last edited: Jun 15, 2009
  20. groovey

    groovey Guest

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    :whoopie:

    The nightmare has finally ended, it only took only 4 wks! :rolleyes: 35 dollars in postage fees :mad: and three faxes later to get 270 of our 300 dollars back.

    The very first charge when they took our initial deposit read under Plant Hollywood
    Miscellaneous charges Headstones, Fireworks,but was credited back as Westgate resorts

    They credited the credit card back the 220.00 of the 300, but sent a 50.00 ck back for the members briefcase.

    A lesson in life well learn.

    Thanks again for everyone's help.


    Ron
     
  21. Vegasorbust!

    Vegasorbust! Guest

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    I just bought on Thursday...

    Bought a 2 bedroom biannual for $30,000.00 at 0% interest. I was excited until I started doing some research and found this board...should I be recinding? If so, do I only have until Tuesday? HELP!
     
  22. DeniseM

    DeniseM Moderator

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    Yes - If you bought from the developer, you should absolutely be rescinding. If you look in your purchase papers there should be explicit directions which you must follow exactly (including mailing method.) They should include the recission period, as well.

    Then you can take your time, research the resale market, and make the best decision for you, with no pressure. - You will save thousands of dollars and you can buy something that you won't have to finance!
     
  23. Laurie

    Laurie TUG Review Crew: Rookie TUG Member

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    YES - spend no more time deciding whether to rescind.

    Instead, figure out immediately how to rescind correctly, to the letter of the instructions - and do it at the earliest possible moment.

    Keep in mind that most post offices close by 5 - but these days, some are closing earlier.

    Signing a contract for a developer timeshare was one of the worst decisions we ever made. Deciding to rescind was one of the best decisions. That was 12 years ago, and we never looked back. We've been happily timesharing ever since, multiple weeks per year, at pennies on the dollar compared to developer prices.
     
  24. Vegasorbust!

    Vegasorbust! Guest

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    I looked through all the paperwork but for the life of me cannot find the part that tells me what to do to rescind!!! where should this be???
     
  25. DeniseM

    DeniseM Moderator

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    Sometimes that is "accidentally" left out - it might be in the small print on another form.

    Where did you buy?

    Here is more info. about rescinding - it was written for Starwood Buyers, but besides the Co., everything applies to you: Rescinding FAQ

    Note that if you call for info. they are likely to, well, lie to you. They may tell you that you can't rescind, or tell you that they don't know the process for it. They will try to stall you until it is too late - don't fall for that!

    Even if the info. is missing from your packet, you can use the procedure in the thread above, find their mailing address in your purchase papers, and mail them a recission with a return receipt, TODAY. I'd also send a FAX as a backup, if you can.
     
    Last edited: Oct 19, 2009

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