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Bought and Recinded Starwood Ownership Property!

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Of course my husband and I also got convinced to buy the starwood ownership during our stay at Desert Willow in Palm Desert. We thought we would get the free points of 12000 that they were offering but got convinced to buy a Plat and Gold Plus week. We spent $58000! We were happy with the purchase. But as we thought about it more and more and then I discovered this website - we decided financially that this purchase did not make any sense for us. We faxed a letter as outlined in one of the posts and faxed it immediately on the 3rd day. Today is 5th day and Starwood is trying to get a hold of us to reinstate the contract.

For those people that are contemplating to buy it, ensure that it makes sense to you. Take into account the maintenance fees you will be paying every year for the rest of your lives. Rates are really cheap on expedia, etc - and figure out whats best for you. Even though we are platinum with starwood - we thought that buying staroptions and converting to starpoints would increase more vacations for us. After working out the numbers - sometimes its not always the cheapest to stay at starwood and we look at other hotels. There are many options available. Remember this starwood deal will always be here with probably better incentive options!

Rescind if you have any doubt.

Thank you to everyone for helping us make a smart decision. Just not right for us.
 

DeniseM

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We faxed a letter as outlined in one of the posts and faxed it immediately on the 3rd day.
In your purchase papers, there were specific instructions regarding how to rescind - did the instructions actually say to FAX your letter?

If not, you need to follow up, following the instructions exactly.
 

DavidnRobin

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Congrats on finding TUG in time. Color yourself lucky.
$58K - yikes!!!

Rescind - Research - Resale
 

lizap

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You might consider a resale. TSs make a lot of sense for people who buy them at the right price and know how to work the system in their favor...


Of course my husband and I also got convinced to buy the starwood ownership during our stay at Desert Willow in Palm Desert. We thought we would get the free points of 12000 that they were offering but got convinced to buy a Plat and Gold Plus week. We spent $58000! We were happy with the purchase. But as we thought about it more and more and then I discovered this website - we decided financially that this purchase did not make any sense for us. We faxed a letter as outlined in one of the posts and faxed it immediately on the 3rd day. Today is 5th day and Starwood is trying to get a hold of us to reinstate the contract.

For those people that are contemplating to buy it, ensure that it makes sense to you. Take into account the maintenance fees you will be paying every year for the rest of your lives. Rates are really cheap on expedia, etc - and figure out whats best for you. Even though we are platinum with starwood - we thought that buying staroptions and converting to starpoints would increase more vacations for us. After working out the numbers - sometimes its not always the cheapest to stay at starwood and we look at other hotels. There are many options available. Remember this starwood deal will always be here with probably better incentive options!

Rescind if you have any doubt.

Thank you to everyone for helping us make a smart decision. Just not right for us.
 

vacationtime1

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In your purchase papers, there were specific instructions regarding how to rescind - did the instructions actually say to FAX your letter?

If not, you need to follow up, following the instructions exactly.
This is super important. If you do not rescind according to the directions, you have not rescinded -- and you already know that Starwood would like to put your contact back into place.
 
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Starwood have confirmed that we have rescinded correctly. Thanks for the replies!

They tried to convince us by email that we are making a mistake by rescinding.

The instructions said to specifically fax or mail.

They keep calling and emailing. Our 7th day is up tomorrow.
 

DeniseM

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Starwood have confirmed that we have rescinded correctly.
Perfect - Sometimes people post that they Faxed their salesperson, or something like that, and they think they have rescinded legally, and in reality, the Fax never made it to the proper department that is authorized to accept and process the request.
 

TUGBrian

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congrats on finding us in time to save so much money! wow!
 
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