New Member to MVC: How do I get started?

[tugger_99]

Hey TUGgers,

I went through the sales pitch at Marriott Grand Chateau 2 days ago, and I gave them the 10% payment to keep the deal on the line, and I have another 10 days to go.

I then started researching about this timeshare and learnt about RedWeek, and other timeshare resale websites. I'm also just now learning about ROFR. My sales agent told me Marriott would purchase the points from me, at my cost of acquisition guaranteed.

My questions before I ask for the refund and rescind the offer is, would buying resale have any disadvantages compared to thru MVC? Here's my questions:

1. If I buy a resale timeshare, would I inherit whatever "problems" the previous owner had caused at other hotels, and those hotels therefore refuse my booking, based on that history?

2. If I buy the timeshare would I still receive no valet fees, and no resort fees and all those other good perks?

3. If bought resale, can I buy flight tickets with my MVC points, as they promised on their website that 8000miles = 500MVC points? Would I still have access to Interval International, or convert these points to Bonvoy points, or Hilton vacation club experiences and hotel bookings? How does this work?

4. Why are the timeshares on resale so cheap compared to the 45k I was quoted for 3000 points? Is it because of the home location(home resort) or because they have specific restrictions on there? Are the restrictions universal, if so what are they? And are there any personalized restrictions people might have agreed to for a lower price?

Thanks

 

[Hindsite]

1) No
2) Yes, you will be an owner, where owners get those benefits, or not cost, you will get them.
3) Yes with Club points if you pay the $3/club point (min $3k) initiation fee to MVC they work just the same as the ones bought direct. Why you would want to do something that was poor value is another matter.
4) Market economics. Smaller pool of buyers, no branded marketing team drumming up interest or overstating how easy it is to get what you want whenever you want, lack of trust in people knowing what they are buying and having the confidence to proceed.

 

[TUGBrian]

My questions before I ask for the refund and rescind the offer is,

you should rescind the offer, then ask the questions...along with doing as much research as possible! signing a contract to pay 45k plus thousands a year in maintenance fees without doing much research ahead of time is a very bad financial decision!

congrats on saving yourself 45 thousand dollars.

 

[davidvel]

Hey TUGgers,

I went through the sales pitch at Marriott Grand Chateau 2 days ago, and I gave them the 10% payment to keep the deal on the line, and I have another 10 days to go.

I then started researching about this timeshare and learnt about RedWeek, and other timeshare resale websites. I'm also just now learning about ROFR. My sales agent told me Marriott would purchase the points from me, at my cost of acquisition guaranteed.

My questions before I ask for the refund and rescind the offer is, would buying resale have any disadvantages compared to thru MVC? Here's my questions:

1. If I buy a resale timeshare, would I inherit whatever "problems" the previous owner had caused at other hotels, and those hotels therefore refuse my booking, based on that history?

2. If I buy the timeshare would I still receive no valet fees, and no resort fees and all those other good perks?

3. If bought resale, can I buy flight tickets with my MVC points, as they promised on their website that 8000miles = 500MVC points? Would I still have access to Interval International, or convert these points to Bonvoy points, or Hilton vacation club experiences and hotel bookings? How does this work?

4. Why are the timeshares on resale so cheap compared to the 45k I was quoted for 3000 points? Is it because of the home location(home resort) or because they have specific restrictions on there? Are the restrictions universal, if so what are they? And are there any personalized restrictions people might have agreed to for a lower price?

Thanks

Rescind rescind rescind. You have entered into a binding contract to pay $45,000 and you don't even remotely understand what you bought. Hint: you got ripped off, badly.

Do not wait 10 days, or 1 day. Rescind TODAY. Do not ask any more questions other than How do I rescind? A: Look in paperwork for reference to rescind. Likely an email where you can send notice, TODAY.

You can buy resale for less than half what you paid, and get exactly the same (that means no different) as what you bought directly.

 

[Dean]

Hey TUGgers,

I went through the sales pitch at Marriott Grand Chateau 2 days ago, and I gave them the 10% payment to keep the deal on the line, and I have another 10 days to go.

I then started researching about this timeshare and learnt about RedWeek, and other timeshare resale websites. I'm also just now learning about ROFR. My sales agent told me Marriott would purchase the points from me, at my cost of acquisition guaranteed.

My questions before I ask for the refund and rescind the offer is, would buying resale have any disadvantages compared to thru MVC? Here's my questions:

1. If I buy a resale timeshare, would I inherit whatever "problems" the previous owner had caused at other hotels, and those hotels therefore refuse my booking, based on that history?

2. If I buy the timeshare would I still receive no valet fees, and no resort fees and all those other good perks?

3. If bought resale, can I buy flight tickets with my MVC points, as they promised on their website that 8000miles = 500MVC points? Would I still have access to Interval International, or convert these points to Bonvoy points, or Hilton vacation club experiences and hotel bookings? How does this work?

4. Why are the timeshares on resale so cheap compared to the 45k I was quoted for 3000 points? Is it because of the home location(home resort) or because they have specific restrictions on there? Are the restrictions universal, if so what are they? And are there any personalized restrictions people might have agreed to for a lower price?

Thanks

As others have said, cancel and educate yourself. Timeshares are great if they fit your situation and you buy the right product but they are a curse in most every other situation. Spend 6 month or so learning about them including other systems. Then you'll come to the conclusion either that they are good OR bad for your situation but it's an almost certainty that no matter how good it is for you there are FAR better ways to get there than this purchase.

 

[jp10558]

100% Rescind. Look at the whole forums. Make a "What to buy" post in the new timeshare forum here - copy the questions and make a new thread:

"What to Buy" Questions for New Timeshare Owners

Here are some questions you can answer to focus your timeshare wants/needs. Suggestion - copy the questions below, and start a new thread entitled "My Survey" or "What should I buy?," or something similar, and answer the questions in a NEW thread. 1) Is there a vacation destination you wish...

tugbbs.com

 

[tugger_99]

you should rescind the offer, then ask the questions...along with doing as much research as possible! signing a contract to pay 45k plus thousands a year in maintenance fees without doing much research ahead of time is a very bad financial decision!

congrats on saving yourself 45 thousand dollars.

Hey TUGgers,

I went through the sales pitch at Marriott Grand Chateau 2 days ago, and I gave them the 10% payment to keep the deal on the line, and I have another 10 days to go.

I then started researching about this timeshare and learnt about RedWeek, and other timeshare resale websites. I'm also just now learning about ROFR. My sales agent told me Marriott would purchase the points from me, at my cost of acquisition guaranteed.

My questions before I ask for the refund and rescind the offer is, would buying resale have any disadvantages compared to thru MVC? Here's my questions:

1. If I buy a resale timeshare, would I inherit whatever "problems" the previous owner had caused at other hotels, and those hotels therefore refuse my booking, based on that history?

2. If I buy the timeshare would I still receive no valet fees, and no resort fees and all those other good perks?

3. If bought resale, can I buy flight tickets with my MVC points, as they promised on their website that 8000miles = 500MVC points? Would I still have access to Interval International, or convert these points to Bonvoy points, or Hilton vacation club experiences and hotel bookings? How does this work?

4. Why are the timeshares on resale so cheap compared to the 45k I was quoted for 3000 points? Is it because of the home location(home resort) or because they have specific restrictions on there? Are the restrictions universal, if so what are they? And are there any personalized restrictions people might have agreed to for a lower price?

Thanks

Took your advice and rescinded the offer today. I got a paper signed by the director of sales that the contract is rescinded.

Waiting on them to process the refund now. I’ll start by reading the answer to this question and trying to find out more.

Is there anything else they were supposed to give me other than the note?

Thanks!
You’ll see quite a few more of my posts lol

 

[vacationtime1]

Deleted as untimely.

 

[daviator]

Took your advice and rescinded the offer today. I got a paper signed by the director of sales that the contract is rescinded.

Waiting on them to process the refund now. I’ll start by reading the answer to this question and trying to find out more.

Is there anything else they were supposed to give me other than the note?

Thanks!
You’ll see quite a few more of my posts lol

PROBABLY they will honor that rescission, but technically you can't rescind through the sales office where you purchased. If it were me, I would follow the exact process laid out in the contract that you signed to rescind (you may have to send a letter (certified mail is best) to an address in Florida, or they may allow you to do it by email. See what your contract says.)

Even though you think you've rescinded, it sounds like you didn't do it as specified in the contract, and so it could get lost or even be rejected as improper. The sales office has an incentive to see your sale NOT be rescinded.

I would still rescind the right way, just in case, in addition to what you have done.

 

[davidvel]

Took your advice and rescinded the offer today. I got a paper signed by the director of sales that the contract is rescinded.

Waiting on them to process the refund now. I’ll start by reading the answer to this question and trying to find out more.

Is there anything else they were supposed to give me other than the note?

Thanks!
You’ll see quite a few more of my posts lol

I agree with Daviator. Not sure what "paper" you got but this is very unorthodox. Can you post a picture of it (redacting any personal info)? If they did not try to talk you out of it forcefully, this is even more concerning.

Please read your contract materials and see if there is an email address to rescind. If not, mail per the contract.

 

[tugger_99]

I agree with Daviator. Not sure what "paper" you got but this is very unorthodox. Can you post a picture of it (redacting any personal info)? If they did not try to talk you out of it forcefully, this is even more concerning.

Please read your contract materials and see if there is an email address to rescind. If not, mail per the contract.

I'll try to post an image later on, but what they gave me was an agreement paper with the Sales Rep's boss' signature guaranteeing that it is void, and all I have to do is email it to the email on the agreement via email. I put both the rep and the MVC official email on my communication to them. I read the terms and I should also be getting the money back in 5-20 days. This is according to NV rules btw because I signed this at the Grand Chateau.

 

[TheTimeTraveler]

I'll try to post an image later on, but what they gave me was an agreement paper with the Sales Rep's boss' signature guaranteeing that it is void, and all I have to do is email it to the email on the agreement via email. I put both the rep and the MVC official email on my communication to them. I read the terms and I should also be getting the money back in 5-20 days. This is according to NV rules btw because I signed this at the Grand Chateau.

I see you have a lot of confidence of the Grande Chateau sales rep. however most folks here on TUG do not.

Cover you a** and do another rescission via the traditional ways provided to you so that it is legally enforceable and there is absolutely no question as to the viability of your rescission. You're on the hook for a large loan and a lot of money; don't you want to be 100% sure you're out of the agreement? If you do it the correct way than you can be absolutely sure of it.

Hope it all works out for you -- best of luck!











.

 

[tugger_99]

I see you have a lot of confidence of the Grande Chateau sales rep. however most folks here on TUG do not.

Cover you a** and do another rescission via the traditional ways provided to you so that it is legally enforceable and there is absolutely no question as to the viability of your rescission. You're on the hook for a large loan and a lot of money; don't you want to be 100% sure you're out of the agreement? If you do it the correct way than you can be absolutely sure of it.

Hope it all works out for you -- best of luck!

I'm also sending Brian's version of a "legal" rescission just in case. I've attached a copy of the rescission template she used, which she has signed.

 

[davidvel]

I'll try to post an image later on, but what they gave me was an agreement paper with the Sales Rep's boss' signature guaranteeing that it is void, and all I have to do is email it to the email on the agreement via email. I put both the rep and the MVC official email on my communication to them. I read the terms and I should also be getting the money back in 5-20 days. This is according to NV rules btw because I signed this at the Grand Chateau.

I didn't see a rescission email on the image you posted. Is it just a random email or specifically designated as a rescission email? Sounds like you are sending so you should be good either way.

 

[WBP]

Consider yourself fortunate that the moon, sun, and stars lined up as they did, and that you discovered TUG, before your rescission window of opportunity, timed out.

Imagine, pre-Internet days, you’d have to go to the Library, and ask the Reference Librarian, what he/she thinks about buying a Marriott timeshare.

 

[dougp26364]

Rescind the purchase as suggested.

As to 3 and 4

Using Abound points for anything other than timeshare travel is a horrible deal. You’ll pay 81 cents per point in yearly maintenance fees, which have historically gone up I]in cost by 5% per year, and you’ll receive approximately 30 cents per point in value. So if the fight tickets would cost you $200 cash, your cost in points will be closer to $600 in the mai tenancy fees on those points. Let’s not forget about the initial $45,000 your dropping up front to get sucj[h a bad deal. In short, you’re far better off paying cash than using points.

As to why are they so cheap on resale? If you think about it, it’s obvious. There’s NO MARKET for them. Timeshare is typically an impulse buy with a LOT of buyers remorse. After the recession period, that’s when people discover how bad of a deal they just made, then they’re desperate to get out at any price. Marriott WILL NOT buy those points back at your initial cost. That’s a huge lie by the salesman. If that were true, would there be any discounted resales? Of course not!

Timeshare works for a relatively small group of people. We own a lot of timeshare, but we’re also very adept at using it and, most important;y, can make plans 12 or 13 months in advance. In order to get the dates, locations, view categories et… that you may want, you need to be able to book your vacations far in advance. The average family books a vacation within of days of travel. That rarely works with timeshares.

Cancel the deal while you can and consider yourself lucky. Continue to read and learn what timeshare is REALLY like before purchasing.

 

[tugger_99]

I didn't see a rescission email on the image you posted. Is it just a random email or specifically designated as a rescission email? Sounds like you are sending so you should be good either way.

I handed over this letter in person and got the admin’s signature on this. The admin lady filled it out, and we also got a reply that they sent my request to the sales department for approval.

I haven’t posted the email but I used TIGBrian’s template which he posted in another thread.

 

[rickandcindy23]

Congratulations on rescinding. If I were you, I would consider buying a 2 or 3 bedroom lockoff unit at Marriott's Grand Chateau and play around with exchanging in Interval International. It's what I do with my weeks, but it depends where you want to go.

You should fill out the What should I buy? Newbie form and get advice based on where you want to go and how much you want to spend.

I am personally disappointed that a lot of people have posted in that forum recently with very few replies. Each newbie should get lots of input, yet a few posts have been met with, "I have no idea what you should buy," comments. That is not helpful.

Take it from me, any platinum season Marriott that locks off is way better than anything for trading. Second best trader is Sheraton Desert Oasis and Sheraton Broadway Resort. SBR, you need to find a lockoff unit.

 

[davidvel]

I handed over this letter in person and got the admin’s signature on this. The admin lady filled it out, and we also got a reply that they sent my request to the sales department for approval.

I haven’t posted the email but I used TIGBrian’s template which he posted in another thread.

If you did it exactly according to the contract documents in addition to handing it to them you are safe. If you are relying on getting this signature you may be stuck with a $45,000 purchase. Them mentioning approval from sales is worrisome. There is no approval of a proper rescission.

Make sure you do whatever your contract says to do to rescind. Anything else is at risk of not complying and being out that money.

 

[tomvc]

your contact

Important typo correction. Your "contract", not "contact". Ignore any contact from sales.