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[2008 Thread] oops

LnM

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I'll call this the oops thread, Went to Vegas- PH resort for the "deal", "just say no, was the plan", then it happened, "oops". Needless to say we now own, sort of. Is there any way to back out after signing the initial paperwork and making a down payment? Or is "sort of" permanent? Does Nevada have a safety backout time clause that we don't know about. OR should we just start enjoying our timeshare in 2011. lol thanks
 

DeniseM

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In your purchase doc's there are very specific terms for rescinding. If you are still within that time frame, you can rescind, completely legally and get all your money back - usually you have only a few days. From your post, I can't tell how long it's been. If you still have time, it's critical that you following the instructions for rescinding EXACTLY.
 

AwayWeGo

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[triennial - points]
Rescinda-Sinda-Sinda.

Is there any way to back out after signing the initial paperwork and making a down payment? Or is "sort of" permanent? Does Nevada have a safety backout time clause that we don't know about.
Full-freight timeshare purchases -- you know, buying straight from the timeshare company when they snooker you in during 1 of those timeshare sales tours & sales pitches -- those typically have a brief cooling off period during which people struck with buyer regret can call the whole thing off. But it's a matter of a few days at most, so time is of the essence if you're at all inclined to undo the deal.

If there is a rescission period, then there is also a rescission process that's spelled out somewhere in the documents they handed you when you signed the purchase paperwork. To get out of it, find where that process is spelled out & follow it to the letter -- pronto, while there's still time (if there's still time).

Good luck.

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

 

Talent312

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I'll call this the oops thread, Went to Vegas- PH resort for the "deal", "just say no, was the plan", then it happened, "oops". Needless to say we now own, sort of. Is there any way to back out after signing the initial paperwork and making a down payment? Or is "sort of" permanent? Does Nevada have a safety backout time clause that we don't know about. OR should we just start enjoying our timeshare in 2011. lol thanks
You have a right of rescision granted by the federal Consumer Credit Protection Act of 1968 which allows you to void a contract within three business days with full refund of any down payment and without penalty. This is designed to protect consumers from high-pressure sales tactics and hasty credit commitments.
 

LnM

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Hey thanks for the info, duh, read the contract... so anyways if I can figure out how to get a certified notice of cancellation to Florida by midnight tonight (from Oregon) we could be in the clear.. do ya suppose that they count leapyear day as a holiday? just kidding. For the record, Its 5 calender days from the day after signing, signed on 2/27.

looks like i have lots to learn.
 
J

JoeMid

It only has to be post marked within the rescission period, it doesn't have to arrive.

Hey thanks for the info, duh, read the contract... so anyways if I can figure out how to get a certified notice of cancellation to Florida by midnight tonight (from Oregon) we could be in the clear.. do ya suppose that they count leapyear day as a holiday? just kidding. For the record, Its 5 calender days from the day after signing, signed on 2/27.

looks like i have lots to learn.
 

DeniseM

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Hey thanks for the info, duh, read the contract... so anyways if I can figure out how to get a certified notice of cancellation to Florida by midnight tonight (from Oregon) we could be in the clear.. do ya suppose that they count leapyear day as a holiday? just kidding. For the record, Its 5 calender days from the day after signing, signed on 2/27.

looks like i have lots to learn.
It won't cost you much to try - You can definitely get a FAX and email to them before midnight tonight and follow up with the certified letter (U.S. mail) in the morning. Be direct and firm in your communications - state definitely that you ARE rescinding. Don't be wishy-washy. State the facts, but keep it brief and business like. You might even get some kind of mail sent out of a Kinko's business center tonight.
 

DeniseM

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You have a right of rescision granted by the federal Consumer Credit Protection Act of 1968 which allows you to void a contract within three business days with full refund of any down payment and without penalty. This is designed to protect consumers from high-pressure sales tactics and hasty credit commitments.
Doesn't the recission period for timeshares vary from state-to-state?
 

Fern Modena

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This law has nothing to do with timeshares. It launched a Federal Truth in Lending Disclosure Law.

Fern

You have a right of rescision granted by the federal Consumer Credit Protection Act of 1968 which allows you to void a contract within three business days with full refund of any down payment and without penalty. This is designed to protect consumers from high-pressure sales tactics and hasty credit commitments.
 

LnM

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could we do just as well for less money, exchange - use wise etc. somewhere else? my feeling is yes, wife is not happy.
 

DeniseM

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could we do just as well for less money, exchange - use wise etc. somewhere else? my feeling is yes, wife is not happy.
You can buy resale for a fractions of the cost. Look at the timeshares for sale on ebay.

My last two ebay purchases were for ocean front timeshare in Hawaii for $1,300 and $1,500!

You have nothing to lose by rescinding, doing your homework, and buying something you are comfortable with and can pay cash for!
 

LnM

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Thanks so much for all the help, well see what happens!
 

AwayWeGo

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[triennial - points]
The Timeshare Company Says It's New Even Though It's Used-Used-Used.

could we do just as well for less money, exchange - use wise etc. somewhere else? my feeling is yes, wife is not happy.
"Used" timeshares are unlike used cars. For cars, you pay less after they've already gone 50,000 miles or so, but the car you get is worn, needs tires, won't last as long as a new car, lacks that new-car smell, etc.

With timeshares it's completely different in that there is no such thing as a new timeshare no matter how much you pay.

It's not simply that by buying resale you get a timeshare unit somebody's stayed in before -- it's actually that when you buy a so-called "new" timeshare for big bux you also get a timeshare unit that somebody's already stayed in before you ever get there.

So if you like your full-freight timeshare, just rescind while there's time & then buy the same thing resale. You save thousands & still get what you would have got at full freight

Click here for more insights.

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

AwayWeGo

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[triennial - points]
1st Things 1st.

wife is not happy.
Keeping wife happy is more important than saving big bux on timeshares, new or used mox nix.

I myself have been married long enough to know that efficiency means letting The Chief Of Staff have her own way sooner .

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

 

UWSurfer

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Hey thanks for the info, duh, read the contract... so anyways if I can figure out how to get a certified notice of cancellation to Florida by midnight tonight (from Oregon) we could be in the clear.. do ya suppose that they count leapyear day as a holiday? just kidding. For the record, Its 5 calender days from the day after signing, signed on 2/27.

looks like i have lots to learn.
Whatever else you do, follow the instructions to the letter, and get the recision letter to the post office and post marked TODAY. They may even be able to hand stamp it for you as a certified letter as your wording seems to indicate. Either way, get busy!!! The "deal" will always be out there for you later should decide you must have this resort...but you won't.

I just realized a "hand stamp" may not actually have a postmark date on it. Get to the post office and they'll make it happen so it has today's postmark on it.
 
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AwayWeGo

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[triennial - points]
Plan B = Keepa-Keepa-Keepa.

one day late
OK, rescission period is over so now you've got a timeshare. Congratulations.

Plan A (rescinda-sinda-sinda) didn't work, so now it's on to Plan B -- making the most of your timeshare vacation opportunities, having fun, enjoying luxury timeshare accommodations instead of Motel 6 & Super 8, etc.

You are not the 1st timeshare buyers to pay full freight & you won't be the last. The main thing now is not to let buyer regret get in the way of enjoying your timeshare.

Welcome aboard.

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

LnM

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My wife called westgate and asked the question, "how easy will it be to exchange our week for a week in say Pueblo Benito los cabos sunset beach"? (just an example as she knows someone who owns there)
Of course they told her that it is very easy and that our PH 1bdrm will have very good trading value. For now our trade is westgate flamingo bay LV. until they get the towers built. Her question is how easy will it be?, my question is how hard would it be if possible at all. Reality check on isle one please.
 
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