confused pls help

[anjennings]

I am not sure what my husband and i have done. we bought a deeded 1 bedroom grande at westgate in myrtle beach, 1 week every other year for 10,000. it will be available in 2010. they also have the "getaway" weeks for $399. so, REM (resort equity marketing) called and i gave them $600 to list it for us, but i have not signed the contract for them yet. i don't know what to do. did i pay too much in the first place for this timeshare and/or should i cancel with REM? someone pls help me. i really don't understand this whole timeshare thing. thank you to anyone who can help me.
Amber

 

[AwayWeGo]

Buy Resale If Possible. Otherwise, Learn To Have Fun With What You've Already Got.

I am not sure what my husband and i have done. we bought a deeded 1 bedroom grande at westgate in myrtle beach, 1 week every other year for 10,000. it will be available in 2010. they also have the "getaway" weeks for $399. so, REM (resort equity marketing) called and i gave them $600 to list it for us, but i have not signed the contract for them yet. i don't know what to do. did i pay too much in the first place for this timeshare and/or should i cancel with REM? someone pls help me. i really don't understand this whole timeshare thing. thank you to anyone who can help me.
Amber

If the cooling period off has not expired, you might want to act fast to undo whatever it is you've done, then bone up on Timeshare 101 before committing to anything else.

If the rescission period has ended, then 2 factors rise to the top . . .

1. When you're in a hole, stop digging. That is, don't do something in an attempt to make things better that will work instead to make things worse. (Click here to read the nightmare scenario you want to avoid.)

2. Learn how to make advantageous use of what you've got. You're not the 1st TUG-BBS person to buy a full-freight timeshare for big bux & you won't be the last. What's done is done, & there's nothing stopping you from having fun with your timeshare now that you've got it.

Through it all, feel free to come back to TUG-BBS for questions, answers, comments, gripes, kudos, & I don't know what-all.

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

 

[DeniseM]

Yes, you paid to much, and yes, you should rescind, if it isn't too late.

Click here for a -> FAQ about how to rescind - it was written for a different timeshare, but besides that, everything applies to you.

You also need to cancel the $600 contract - that's a rip off!

 

[Dave M]

It sounds to me as though (1) you bought a timeshare and it's beyond the SC 5-day cancellation period and (2) now you are trying to sell it.

If so, you should immediately try to cancel the charge to REM and dispute the charge with your credit card company, although it's quite possible that they will take the position that statements you made over the phone constitute an enforceable contract. Paying for anything without fully understanding what you are getting for your payment is almost always a mistake.

You should read (and study) the "How to Sell" article located at the top of the list of topics for this Buying, Selling, Renting forum. It includes important information regarding paying upfront fees in an effort to sell your timeshare, where to list your timeshare for sale, how to establish a realistic asking price and other info that should help you in the selling process.

If you have financed the purchase and still owe money, you'll almost certainly have to pay of that loan before you'll be able to sell your timeshare.

Please act quickly and ask us as many questions as occur to you.

Most importantly, welcome to TUG. We'll help!!

 

[Talent312]

I am not sure what my husband and i have done. we bought a deeded 1 bedroom grande at westgate in myrtle beach, 1 week every other year for 10,000. it will be available in 2010. they also have the "getaway" weeks for $399. so, REM (resort equity marketing) called and i gave them $600 to list it for us, but i have not signed the contract for them yet. i don't know what to do. did i pay too much in the first place for this timeshare and/or should i cancel with REM?

Cancel with REM and get your money back, if at all possible. Dispute a CC charge if that's how you paid them. You should never pay anyone an up-front commission on a mere promise to do something, particularly when they will not be able to do what they claim. Do a search on eBay for similar units and you find that your TS does not have a value close to what you paid. Sad, but true.

As others have pointed out, there are resources here to help you sell your TS. However, you may ultimately decide to make the best of it. As they say, "When life hands you lemons, make lemonade."

 

[Pit]

How long has it been since you purchased this? Take out your sales contract and find the instructions for rescinding the contract. Then carefully follow the instructions, if it's not too late.

 

[yumdrey]

hurry!

call credit card company asap and dispute $600. I think REM already took your money, but try to get it back. Don't pay up front fee never, ever again.