[2008] Yet another rescission question...

[Kim W]

Well, I know it is a common story, but yesterday my husband and I and another couple went to a TS presentation at the Diamond Resorts International property in South Lake Tahoe, CA (Lake Tahoe Vacation Resort) in order to receive a free night in the 2 BR condo we had just checked into.

It was an interesting sales tactic in that they had all four of us at one table with one salesperson.

WE ALL KNEW BETTER, but still caved after much pressure and purchased 2,500 points for just under $10,000. We gave them a 50% down payment via a credit card. The bait that hooked us was the offer of "2 free weeks in a 2 BR oceanfront condo in Hawaii" along with 2 free round trip tickets on American Airlines. What we got were two certificates to be exchanged for vouchers through Interval International and two certificates that can be redeemed for round trip travel through AA. We were also given checks for $100 to offset the cost of the I.I. exchange fee.

I got home and looked carefully through the paperwork with a clear head and realized that 2,500 points will get us nothing and that I can't be sure that we will actually be able to reserve the "free" weeks or obtain the plane tickets.

Anyway, according to our contract we have 7 days to rescind, which I plan to do tomorrow. The wording of the contract simply says that we may cancel the contract without by notifying the seller in writing of our intent to cancel. A mailing address and FAX number are included.

I will send the letter, along with a copy of the contract, Certified Mail return Receipt Requested. I will also return the $100 check, although it is tempting to keep it as partial payment for my time and anxiety.

It almost seems to simple. Is there anything I am missing? Any fine print I should be looking for that will keep them from returning my $4,990 deposit?

Thanks in advance.

Kim

 

[DeniseM]

Kim - you did the right thing and you are totally within your legal rights! Good for you! The only thing I would do is to review the rescission instructions one more time to make sure you followed the directions EXACTLY to make sure it's valid:

1) Don't keep the $100 check - that could invalidate your rescission or at least delay it.

2) FAX your rescission to the FAX number as well.

3) Make sure your mailing method is the one specified in the directions.

4) Send a copy of the rescission letter to your credit card company and call them to see if they want any other information.

I wrote this rescission FAQ for another resort system, but everything besides that applies to you.

Good luck, my friend!

 

[Kim W]

Thanks...

Thanks Denise.

It is hard to believe that the four of us (50 somethings, fairly intelligent, college educated folks) allowed ourselves to be talked into this by a couple of kids. It is an interesting phenomenon. I would love to be a fly on the wall in a time share sales rep training session.

I am just glad we have the right to rescind.

Kim

PS I think I shall get serious about buying something resale once this is resolved. We do love to travel and like the timeshare concept.

 

[falmouth3]

The sales people are well trained. They are also depending on you having your guard down since you're on vacation and having fun.

Glad you made a decision on whether to rescind why you still had time. Spend some time here reading and learning. You'll find a wealth of experience and people are very willing to help.

Sue

 

[UWSurfer]

I've said it before...when I was a rep for insurance sales, we were taught that people buy based on their emotions, and then justify the purchase with logic.

Education while useful, does very little for reigning in most people's emotions. Those "kids" likely played up your emotions (including greed = free rt tickets), found your buttons and pushed them like mad.

That's if they are good. There are many buying signs good sales people look for and test closes that they may bring out to see where you are. As much as I hate sitting through these presentations, it's always fun looking for the marks of a good sales person & recognizing the way they work the time. It also can be fun to sit across from someone with no training what-so-ever and watch the train wreck.

 

[falmouth3]

I actually felt sorry for the salesman dealing with me when we went to a presentation in June. At the end, he was asking me what points sell for on eBay and asking if I ever see Hawaii listings. We also got out of there in 36 minutes.

Sue

 

[Traveler5271]

Canceling after rescission period

A friend told me that the best way to cancel a contract, regardless of how long after the purchase, is to tell that the sales person quoted some ridiculous rates for rental. This story has been used at Westgate, Hilton, Fairfield/Wyndham and who knows what others. The story goes that the sales person told you that he had a group of owners that work together as a group sharing advertising costs in exclusive publications and they charge $5,000 to $6,000 per week for two bedroom condos in the Disney area. Christmas or July 4 are top rental times. It seems that the more ridiculous the rental rate, and the more ridiculous the buyer's story, the more quickly the timeshare company will refund your money. The alleged rental program is independent of the TS company and run by someone somewhere in the Midwest or South (Kansas City, Tulsa, Birmingham, Nashville, etc) and he uses his business for credit card charges. The target market is rich Americans, or Asians, or Middle Easterners. You get the picture. Times are hard and sometimes we need some help to escape our mistakes. Good luck.

 

[DeniseM]

Traveler5271 - do you have any personal experience with this? I see that you've posted similar advice in the past...

And do you know you responded to a question from 2008?

Please look at the dates when you use the search function...

 

[Patri]

I would say if the rental promises aren't in writing, that argument won't hold water when you try to rescind after the grace period. If someone has been successful in this, let us know.

 

[theo]

Absolutely right...

... if the rental promises aren't in writing, that argument won't hold water when you try to rescind after the grace period.

Well said and quite correct. Only the actual written contract content means anything whatsoever.
All of the empty promises and pipe dream babble spouted by the lying sales weasels mean absolutely nothing --- it's just air movement and background noise. What isn't in writing in the contract, simply doesn't exist.
It then follows logically that you would be very hard pressed to make any sort of substantive case against a meaningless verbal statement which, in fact, has absolutely no legal significance or meaning or weight of any kind the first place. Wishful thinking, but without any actual merit...

 

[Traveler5271]

Sorry Denise. I didn't realize it was an old post I was responding to. No, I have not personally used this but have read of it on other websites and I have been told it works. We would probably agree there is much misrepresentation in most ts presentations. Give them a dose of their own medicine.

 

[DeniseM]

No, I have not personally used this but have read of it on other websites and I have been told it works. We would probably agree there is much misrepresentation in most ts presentations. Give them a dose of their own medicine.

No, it won't work. When you buy a timeshare, you sign a legally binding contract. Any verbal promises are only so much hot air.

 

[deedman]

the first question a judge would ask is why the buyer didn't request an addendum that spelled out clearly the promises the seller is making that aren't in the original contract. this will not work, not in america at least.