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Buyer's remorse - help with process to back out

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I went to the presentation and bought a unit at Parq Soleil on Thursday. I'm within the 10 day period to back out. What is the process? Can I find it in the closing paperwork? My first look through didn't reveal anything. Is there a number with HGVC that I can call?

FYI, I actually think the program looks great. I am a first time buyer and didn't realize how much less expensive resale is. I plan on doing my research and going that route.
 

Purseval

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Rescinding instructions are in your contract. Find them and follow them exactly. Don't wait, do it now if not sooner.
 

Passepartout

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Welcome to TUG!

We are thrilled that you found us in time and are rescinding. The instructions will be in the contract you signed. It WON'T be prominent. All you need to do is write a letter, nothing fancy. "I wish to cancel contract #xxxx-xxx dated_____,2012 signed (both signers of the original)." Send it to the address you will find in the contract. If they say USPS, send it USPS. If it says Fed-Ex, send it Fed-Ex. If it says fax, fax it. Do it as they say. We advise sending it certified with receipt signature request.

After that's done, come back. Learn about TS before you buy (or whether to or not)

Good luck and Best Wishes!

Jim Ricks
 

Talent312

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Draft a letter stating that's what you want to do.
Identify your names, your contract #, and the unit+week.

Deliver exactly as stated in the contract (usually U.S. Mail).
Do not deviate, even if you think there's a better way.
 
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I found the instructions buried in over 200 pages of documentation that they gave to me on a CD rather than a paper copy of. I do have 10 days and today is day #4. I'll get the letter out tomorrow and start some serious research. Thank you, everybody, for your help.
 

Passepartout

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Good news! After you do some research and if you still want HGVC, there are a couple of resellers who frequent TUG who have quite a following of members with good prices and the ability to shepherd the sale through ROFR that HGVC seems overly anxious to exercise on decent weeks at decent prices.

Glad you found the instructions.

Jim
 

momeason

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Welcome to TUG!

"We are thrilled that you found us in time and are rescinding."

My sentiments exactly. Welcome to TUG. Timesharing is great, but it is necessary to spend time learning to timeshare. If you do not have time to learn
how to make each convoluted system work, then you will not get value from the system. We have an important saying to always remember..If a timesharing salesman's lips are moving, he is lying. This is sad, but true. That being said..if you invest the time, TUG can help you learn how to vacation a lot with a little.
If you happen to be flexible to travel out of prime season and at the last minute, that is when you can really make timesharing work for you. Again, welcome to TUG. Enjoy learning and then enjoy timesharing!:cheer:
 
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rgong

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Congrats on rescinding and finding TUG.

You've just joined another club - those of us who signed a contract after a presentation at the Parc Soleil, found TUG, and then came to our senses (I rescinded on day 9). I'm losing count of the number of people who visit this forum with that same story. I don't remember drinking any koolaid while I was at PS but there was something funny tasting in the water ...

I swear, I'm going to find my paper contract, scan the page (yes it was a paper contract) with the rescision instructions for HGVC, and try to get it posted as a sticky on this forum :)
 

semicycler

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Hooray! I love seeing these posts. HGVC is one of the best TS programs. The only problem is buying overpriced directly from the developer. You just passed the test.

After rescinding, stick around, read the posts here, and take advantage of all the free information they don't tell you at the sales presentations.

Things like:
  • Points are points - buy the cheapest/most points you can and stay anywhere
  • Cost is more than purchase price - consider annual maintenace feess too
  • The cheapest annual MF's are in Las Vegas and Orlando. Points are points.
  • Hawaii availability is difficult but not impossible, there are tricks to reserving at exactly the 9-month window
  • You can buy resale points for a fraction of the developer price - points are points
  • The only resale drawback is no elite qualifications. Research the value and conclude as most do that the price/value of elite is not worth it.
  • Buy resale over developer retail. Should be #1 on the list.
  • Hilton has rights of first refusal (ROFR) for most resale transactions. If you happen to snag a super cheap 7000pt deal resale for say $2K in Vegas, odds are Hilton will exercise ROFR and buy the property instead of you.
  • Not every property has ROFR

You saw something you liked during the high pressure sales presentation. It's not uncommon to get more points, annually instead of EOY, for a fraction of what the developer charged, all buying resale. I'm willing to bet you will still like HGVC but without that pit in your stomach from overpaying developer prices.

Stick around, ccngratulations on rescinding, and good luck!
 

MFT

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Follow the directions exactly as in the contract

Hi,

I rescinded a contract a little over a year ago, followed the instructions exactly as stated, mailed (US Mail, not UPS/FEDEX, etc.). by the due date. I also cc'd the resort sales department and the corporate office, so I had 3 letters sent out, receipt signature required.

Keep copies of everything, including the top of your envelope after it is date stamped by the post office. Make sure they give you a receipt also.

Calling the resort is worthless. It will take a few weeks, but funds should be refunded into your accounts for the deposits, etc... If you want, I have a copy of the letter I sent if it would help. But if this was last Thursday, make sure you get this in the mail prior to the number of days (don't count this as business days, but actual calendar days). Make sure to check the contract for the days, as sales has a habit of adding a few days on when they tell you this information (7 days is stated verbally as 10 days, etc...). The contract rules.

Good luck!
 

csxjohn

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...
I swear, I'm going to find my paper contract, scan the page (yes it was a paper contract) with the rescision instructions for HGVC, and try to get it posted as a sticky on this forum :)
Probably not a good idea. The instructions may change over time and someone relying on your post may not rescind correctly.

The last thing most of want is to steer someone in the wrong direction.
 

Talent312

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The instructions may change over time and someone relying on your [contract] may not rescind correctly.
They also change from state to state.
Each state has slightly different rescission periods, and mandated texts.

IMHO, the instruction to find it "in your contract" is the better approach.
... Unless that is, someone wants to collect the contract from each state.
 
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rgong

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They also change from state to state.
Each state has slightly different rescission periods, and mandated texts.

IMHO, the instruction to find it "in your contract" is the better approach.
... Unless that is, someone wants to collect the contract from each state.
Point(s) taken. My contract is still buried away somewhere, but I recall the rescission periods are based on the State where you signed your contract (and not your state of residence). The rescission instructions were fairly boilerplate, and they outlined the specific rescission periods for at least FL, NV, and possibly Hawaii (the 3 places where most if not all the HGVC sales presentations are made). Sounded like those periods are mandated by the state rather than timeshare system policy. For anyone signing a contract after a presentation at the Parc Soleil, the rescission period is 10 days, regardless of where you call home.

But yes, the instructions are always included somewhere in the contracts. If the newer ones are an electronic file on a CD, the instructions may now be *easier* to find since you can just search for the word "rescind" or "rescission" etc.

At the very least, I think Denise's instructions should be a sticky at the top of every timeshare system forum and not just Starwood.
 
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lrsilvers

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I am in the same boat. Just after signing a contract a few days ago, I went back to the hotel and found TUG and realized what a mistake I made, even after considering the 22,500 bonus points I received. I am happy with the HGVC product, just disappointed I didn't research beforeheand how great the resale market was.

The salespeople told me that 1 in 4 people buy into HGVC after attending a presentation. I wonder how many of those end up rescinding the contract. They didn't give me that figure. :ponder:
 
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Passepartout

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I am in the same boat. Just after signing a contract a few days ago, I went back to the hotel and found TUG and realized what a mistake I made, even after considering the 22,500 bonus points I received. I am happy with the HGVC product, just disappointed I didn't research beforeheand how great the resale market was.

The salespeople told me that 1 in 4 people buy into HGVC after attending a presentation. I wonder how many of those end up rescinding the contract. They didn't give me that figure. :ponder:
We trust that you got it rescinded? We like our timeshares, just at resale prices. There are a couple of good, trustworthy brokers who deal in HGVC in TUG. They have experience shepherding them through ROFR. If you aren't stung by the whole experience, they will help you buy what you need, not what some salesweasel needs you to buy so he can get a fat commission.

Jim
 

lbjen

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I recently rescinded after falling for it, got the money back from Hilton in a matter of days which was great.
 
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