[ 2017 ] Need Help Rescinding Holiday Inn Club Vacations Time Share

[Jamie michelle]

We recommend against rescinding in person- or even returning to the sales office. They are trained in countering any argument you give for not buying. Plus they just don't have the procedures down for doing it. Do it by mail- USPS Certified with returned receipt, so you have proof of delivery. This creates a paper trail that you have in case there is EVER any question of your rescission.

Congratulations on your decision, and Welcome to TUG. Get it in the mail, unplug the phone and resume your vacation.

Jim

That was exactly my thoughts; they would pressure us to not rescind. It’s the usual...
The deal sounded good at the time but after crunching numbers, it’s not a good deal for us.
Thanks for the feedback. I’ll keep y’all posted.

 

[Eblgriffin]

We signed a contract yesterday (June 22nd) and decided we want to cancel. We have read the contract and know we need to send a letter to the address in Florida. We are still on property where we signed the contract. Would it do any good to go directly to them?

We just signed on June 22 as well and we mailed in a letter on 6/26. I sent it priority express, kind of in a small box so I could return the book and CD. I also made sure it was certified. It will be there on 6/28. Will we be refunded our money that we paid?! We paid over 2,000. This was with holiday inn. I think it’s ocwan lake resorts. I mailed it to the Kissimmee FL, location that was located in our contract!

 

[EverLearn]

We signed a contract on July 3rd mailed cancelation letter certified mail on the 6th. Had a free stay for the pitch and in the moment of a good time fell for the dream. After reading the contract and finding Tug quickly realized our mistake.
I am interested if anyone has not received a cancelation? I will certainly update everyone if I have any problem.
I am in learning mode and looking for a resale unit for purchase/transfer after my refund.
Thanks to everyone for the information on this site.

 

[EverLearn]

Update:
HICV scored 2 points with me! 3 Days From the date they received my cancellation letter till refund posted on my CC. THANK YOU HICV! You will stay on my list of reputable companies to deal with. I assumed they would refund the money but the speed is what earns the kudos. Now to continue the Timeshare journey, LOL.

 

[MoneyBear]

So glad this thread was here. My wife and I are rescinding an offer that we made on Tuesday of this week for $38k. I've already started picking up points on eBay to increase our holdings without having to pay the developer some insane sum. As long as HIVC doesn't exercise their ROFR (wish me luck on this) we will be picking up double the points we paid for for 30% of the money via the secondary market. Thanks for being here...you saved me a ton of cash.

 

[Bmatrose]

So glad this thread was here. My wife and I are rescinding an offer that we made on Tuesday of this week for $38k. I've already started picking up points on eBay to increase our holdings without having to pay the developer some insane sum. As long as HIVC doesn't exercise their ROFR (wish me luck on this) we will be picking up double the points we paid for for 30% of the money via the secondary market. Thanks for being here...you saved me a ton of cash.

remember you dont get status with resales

 

[silentg]

A resale converts back to a fixed week .

 

[skotrla]

A resale converts back to a fixed week .

You want resale at the three points resorts: Lake Geneva, Smoky Mountain, and South Beach.

-Scott

 

[MoneyBear]

remember you dont get status with resales

I think I'm OK with that. My wife and I have confirmed in 2 separate "updates" that if you have any Signature points at all then you get the signature perks. If it ever becomes necessary or desirable to swing a bigger stick with HIVC, we can pick up a small number of signature points from one of these presentations and "signaturize" all of our points.

Also, I'd be interested to know if I picked up 300k+ in the resale market and then picked up some at an update if they'd have to acknowledge my status at that point...? Might be worth looking into.

 

[skotrla]

I think I'm OK with that. My wife and I have confirmed in 2 separate "updates" that if you have any Signature points at all then you get the signature perks. If it ever becomes necessary or desirable to swing a bigger stick with HIVC, we can pick up a small number of signature points from one of these presentations and "signaturize" all of our points.

Also, I'd be interested to know if I picked up 300k+ in the resale market and then picked up some at an update if they'd have to acknowledge my status at that point...? Might be worth looking into.

Yes, historically you get status based on all owned points with any developer purchase, but the guideline since mid-2017 has been that an owner with resale units has to make $5K in developer purchases for every 25K in points, so they would likely start at a $60K purchase and then go down from there - not sure how low they would go.

-Scott

 

[Collin]

I just came back from a vacation where I made the mistake of accepting to sit on a time share presentation for Orange Lake Country Club. Since the start I was not sure about the 90 minutes advertised, but I was curious on what they offered due to I'm a newbie on this matters. Sadly I didn't do the research before making that decision and due to multiple aggressive selling techniques, my wife falled into it alone and signed the contract.
After our vacation, I did my homework and found this site plus multiple one that had mixed opinions about the service of the location I visited, but not had the opportunity to experience at all.
In short, thanks for the education shared on the forum, and next day I'm mailing the cancellation letter. Fingers crossed we get refunded.
I will definitely continue reading the forum articles comparing timeshares.

 

[Bigmac3678]

Welcome Collin, there is so much valuable information on this site. Take your time to learn more about timeshares, so that you can make some informed decisions in the future.

 

[silentg]

Welcome to TUG

 

[LannyPC]

Fingers crossed we get refunded.
I will definitely continue reading the forum articles comparing timeshares.

There's no need to "cross your fingers". By law, if you mail in your rescission letter stamped within the allotted time (10 days in FL), then they must refund you. It might take up to 45 days for the refund to occur but it usually does not take that long. Just keep an eye on your credit card activity.

The one warning that we TUGgers give to people in your situation is to not go phoning the resort or its sales people asking for an update on the rescission. Nor should you take any phone calls from the resort while your rescission request is in progress. It's likely that they will try to talk you out of your rescission.

 

[Worrywort56]

Alright. This bulletin board I believe saved my wife and I, but I won't feel good until I get the refund and some kind of confirmation. We sent are signed cancellation notice certified mail within 5 days of our big mistake purchase. The resort received it two days ago, so I have quite a wait. Two remaining concerns I thought about after mailing:

1)They won't try and say our signatures had to be notarized, will they?

2)What if they don't send confirmation of cancellation? Can they come after us in a few year claiming we signed papers to a timeshare?

Please tell me I have nothing to worry about. Thanks everyone on this bulletin board for your valuable advice.

 

[Karen G]

Alright. This bulletin board I believe saved my wife and I, but I won't feel good until I get the refund and some kind of confirmation. We sent are signed cancellation notice certified mail within 5 days of our big mistake purchase. The resort received it two days ago, so I have quite a wait. Two remaining concerns I thought about after mailing:

1)They won't try and say our signatures had to be notarized, will they?

2)What if they don't send confirmation of cancellation? Can they come after us in a few year claiming we signed papers to a timeshare?

Please tell me I have nothing to worry about. Thanks everyone on this bulletin board for your valuable advice.

You have nothing to worry about. Your signatures don't have to be notarized & they very well may not send any kind of confirmation of cancellation. Just watch your credit card for a refund of whatever you paid them if that's how you paid. Also don't take any calls from them as they may try to get you to buy something else. If you have an answering machine, just let it take a message. Keep your copy of your cancellation letter and your receipt from the post office showing the date you mailed it. That's your proof of cancellation.

 

[vignesh VELLAICHAMY]

Did u got your money back??

 

[Passepartout]

Did u got your money back??

Who? The most recent poster/rescindee has not been back on TUG since his original post. It may be too soon for him to see the money because it can take some time for it to post in his account, but since he followed the instructions, the developer had no choice but to process the rescission and return his money.

Jim

 

[Passepartout]

[Deleted] Duplicate.

 

[vignesh VELLAICHAMY]

Who? The most recent poster/rescindee has not been back on TUG since his original post. It may be too soon for him to see the money because it can take some time for it to post in his account, but since he followed the instructions, the developer had no choice but to process the rescission and return his money.

Jim

Do I need to mention the owner number also in the rescission letter or only the contract number is enough?

 

[Passepartout]

Do I need to mention the owner number also in the rescission letter or only the contract number is enough?

We suggest you include a COPY of the signature page of the contract for ID purposes, but if there is a different 'owner number' it wouldn't hurt to include it as well. All people who signed the contract MUST sign the rescission letter. Your earlier post wasn't clear that rescission was your goal. Time is of the essence. Get it postmarked as soon as possible. You'll sleep better. Welcome to TUG!

Jim

 

[vignesh VELLAICHAMY]

We suggest you include a COPY of the signature page of the contract for ID purposes, but if there is a different 'owner number' it wouldn't hurt to include it as well. All people who signed the contract MUST sign the rescission letter. Your earlier post wasn't clear that rescission was your goal. Time is of the essence. Get it postmarked as soon as possible. You'll sleep better. Welcome to TUG!

Jim

Hi,
I sent it through Canada express mail ( requesting signature on delivery). Is that okay?. What happens if they reject the mail with out accepting it?

 

[Passepartout]

Hi,
I sent it through Canada express mail ( requesting signature on delivery). Is that okay?. What happens if they reject the mail with out accepting it?

Doesn't matter. First, they will accept it, and second, the only thing that matters is that you have proof of sending it. Stop worrying.

 

[Jonathan Ferguson]

I've seen some people on here say "everyone" who signed the purchase agreement needs to sign the notice of cancellation. My wife and I purchased a 70k point plan today for about 16k at 15.9%. After some research it looks like this won't even come close to what our current vacation budget allows, so we think we want to cancel. Do we need the notary who signed for holiday inn/ orange lake to sign as well, or will signatures from myself and my wife suffice?

 

[tschwa2]

I've seen some people on here say "everyone" who signed the purchase agreement needs to sign the notice of cancellation. My wife and I purchased a 70k point plan today for about 16k at 15.9%. After some research it looks like this won't even come close to what our current vacation budget allows, so we think we want to cancel. Do we need the notary who signed for holiday inn/ orange lake to sign as well, or will signatures from myself and my wife suffice?

When they say everyone, they mean everyone who signed as a purchaser. You don't have to track down the notary or whoever signed on behalf of the resort.