Deposit made , no contract signed

[calgaryjill]

We are Vidanta Mayan Palace TS owners since 2010. Our current contract has us paying maintenance fees only with a renewal fee every 10 years. Last week at MP in Riviera Maya, we went to a business update session but had to leave before we signed a rewritten contract but did leave a 25% deposit of US1050. We thought the rewrite was a good idea because the salesperson convinced us that we had to pay special assessment fees every 5 years of 2X the maintenance fee and every 25 years they are 5X. We had no recollection of that from the original contract and nor paying any such fee in 2015. As it stands now after we have paid the maintenance fee we sign the week over to Holiday Systems International who pays us back most of the maintenance fee minus a small admin fee. When we got home and were able to compare the new contract with the old one, we realized that there is no special assessment fee in the old one and that the renewal fee in the old one is much less than it is in the new one so are thinking we will just refuse to sign the new contract when the salesperson calls us on Saturday morning. I am assuming they will refund the deposit but would like some advice on any proactive actions I should think about beforehand. I will certainly contact the credit card and file a dispute claim. ANything else?

 

[Saintsfanfl]

Tell them you changed your mind and ask for an immediate refund. Do not negotiate. If you do not have a refund on your cc within 7 days file a dispute and get the chargeback credit. This one seems open and shut with no signed contract.

Never attend another timeshare presentation and just enjoy your vacations. Mexican timeshare contracts are almost always worthless.

 

[theo]

....thinking we will just refuse to sign the new contract when the salesperson calls us on Saturday morning. I am assuming they will refund the deposit but would like some advice on any proactive actions I should think about beforehand. I will certainly contact the credit card and file a dispute claim. Anything else?

It is highly unusual not to get your signature(s) first and foremost, but if that was the case do not proceed further and do not sign anything.

Disputing the charge on the credit card (while surely a good idea) is not sufficient to rescind. If you signed anything at all while previously in the presence of the sales weasel, you need to reverse that decision (rescind) in writing.

 

[calgaryjill]

Our chat with the sales agent/business rep was very cordial. She understood our refusal to rewrite the contract and within a couple of hours sent us a copy of the credit note posted Mastercard to reverse the deposit we made. It has now shown up as a credit online so we are very much relieved that it was so easy and non-confrontational. The only little disappointment was that the exchange rate from USD to CAN was not in our favour when the credit was posted! Lesson learned - don't go to any meetings! It wasn't worth the CAN$200 we saved on our room charges.

 

[theo]

Lesson learned - don't go to any meetings!

I'm glad it worked out for you relatively easily and quickly. Also glad and heartened to see the wise conclusion you have reached. Swimming in a shark tank is always a dangerous enterprise and, in my opinion, never worth the discounts, gift cards or coupons used by the sharks to attract their prey.

 

[happymum]

If you call Mastercard, they may be willing to adjust the rate on the refund. I know that in the past Visa was willing to do so.