• The TUGBBS forums are completely free and open to the public and exist as the absolute best place for owners to get help and advice about their timeshares for more than 26 years!

    Join tens of thousands of other owners just like you here to get any and all Timeshare questions answered!
  • TUG started 27 years ago in October 1993 as a group of regular Timeshare owners just like you!

    Check out our happy birthday post here: Happy Birthday TUG!
  • TUG has now saved timeshare owners more than $15,000,000 dollars just by finding us in time to rescind a new Timeshare purchase! A truly incredible milestone!

    Read more here: TUG saves owners more than $14 Million dollars
  • Follow the TUG Member Banner as it travels the world on vacation with Timeshare owners! Also sign up to get the banner sent to you so you can submit a photo of your vacation with the banner to share with TUG! Banner Thread
  • Sign up to get the TUG Newsletter for free! Join tens of thousands of other owners who get this every week! Latest resort reviews and the most important topics discussed by owners during the week!
  • Our official "end my sales presentation early" T-shirts are available again! Also come with the option for a free membership extension with purchase to offset the cost!

    Read more Here
  • A few of the most common links here on the forums for newbies and guests!

Developer vs Resale Purchase

celticmutt

Guest
Joined
Aug 2, 2010
Messages
3
Reaction score
0
Points
0
Location
New Jersey
I think I know the answer to this one, but would like some additional supportive input. We are still within our 7-day cancellation grace period after having purchased a Monarch Grand Vacations plan of 133 annual ownership points for a bit less than $10K. (They threw in 266 - 24 month use bonus points; this as an FYI, but I'm thinking not really relevant to the bottom line question.) Will we be better off canceling and purchasing same on the resale market?
TIA for your speedy responses - we only have 3 days left to pull the trigger.
CM
 

DeniseM

Moderator
Joined
Jun 6, 2005
Messages
54,433
Reaction score
4,713
Points
1,499
Absolutely and without a doubt! You can buy the same thing resale for pennies on the dollar!

Here is some info. about rescinding - I wrote it for another resort, but besides that, it all applies to you!

RESCIND! :hi:
 

DaveNV

TUG Review Crew: Expert
TUG Member
Joined
Jun 1, 2006
Messages
15,542
Reaction score
14,812
Points
898
Location
Mesquite, Nevada
Resorts Owned
WorldMark
Rescind while you can. There is nothing the Developer can do for you except take your money. You can buy the same thing on the resale market for pennies on the dollar.

Others may have more specific information, but that's the short answer. :)

Dave

P.S. Welcome to Tug! You're in the right place.
 

scrapngen

TUG Member
Joined
Dec 31, 2009
Messages
1,373
Reaction score
0
Points
36
Location
Washington
Over on the bargain deals here on TUG is this ad:

Sorry, I still haven't been able to figure out how to put the thread in, but I did a search for Monarch Grand Vacations...

Dated August 1:
Free Monarch Grand Vacations Timeshare 133 pts EOY
 

AwayWeGo

TUG Review Crew: Expert
TUG Member
Joined
Jun 6, 2005
Messages
15,239
Reaction score
934
Points
499
Location
McLean (Fairfax County), Virginia, USA.
Resorts Owned
Grandview At Las Vegas

[triennial - points]
Rescinda-Sinda-Sinda.

Will we be better off canceling and purchasing same on the resale market?
Yes, absolutely.

Get out of it while you can.

Nothing that the timeshare companies sell at full freight is worth the money -- & that goes also for all the various extras & perks, etc., that they offer to throw in to sweeten the deal.

Buy timeshares resale.

Save thousands of dollars on exactly the same thing, or the equivalent, or something even better.

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

DeniseM

Moderator
Joined
Jun 6, 2005
Messages
54,433
Reaction score
4,713
Points
1,499
For comparison - the last Monarch Grand Vacation pkg. that sold on ebay went for $199 for 155 points!

MGV on ebay

Recently 2 sold for $1, one for $102.50, one for $135.50, and one for $257.50 (465 pts.)
 

celticmutt

Guest
Joined
Aug 2, 2010
Messages
3
Reaction score
0
Points
0
Location
New Jersey
Many thanks for all your quick responses. They really helped to solidify the decision.
The rescind letter has been FAXed! (Again, with valuable help from input here.)
Jeeze, the salespeople at these resorts should offer access to TUG during their pitches ... Yeah, I don't think so either!!
CM
 

vacationtime1

Tug Review Crew: Rookie
TUG Member
Joined
Sep 7, 2006
Messages
4,001
Reaction score
1,463
Points
399
Location
San Francisco
Resorts Owned
WKORV-OF (Maui)
WKV x3 (Scottsdale)
It is critical that you rescind in the exact way they tell you to rescind. Read the paperwork carefully.

If fax is an approved method, great. If not, rescind per instructions (First Class Mail, Certified Mail, FedEx, carrier pigeon, etc.). If you do it wrong, they could refuse to recognize your rescission.

Then, take a few months and research.

Finally, welcome to TUG.
 

timeos2

Tug Review Crew: Rookie
TUG Lifetime Member
Joined
Apr 11, 2005
Messages
11,183
Reaction score
3
Points
36
Location
Rochester, NY
Do it right as Mike Holmes says

Yes, PLEASE do not depend on a fax to be a proper recind unless the paperwork states that. Find the procedure in all that pile & followit exactly to be sure you get it right. You do not want to end up owing thousands you don't have to because you didn't use a $3 certified letter as required.

Rescind now but do it according to the printed rules.

Then enjoy a great bargain on resale & join us here to discuss your great value in vacations!
 

Laurie

TUG Review Crew: Rookie
TUG Member
Joined
Jun 6, 2005
Messages
2,764
Reaction score
410
Points
318
Location
NC
How will you prove they received the fax, if you have to?

Most rescission letters have to go another way, such as first class / certified. Mine did.

But even if they only require fax, I'd get a signature acknowledging receipt. (In another situation, I once faxed some ppw before a deadline, party denied receiving, I had no proof, and it caused me a BIG problem.) To cover my bases in this case, I'd mail it certified too, and get a signed receipt.
 

rickandcindy23

TUG Review Crew: Expert
TUG Member
Joined
Jun 6, 2005
Messages
23,370
Reaction score
2,956
Points
599
Location
The Centennial State
Resorts Owned
Wyndham Plat,RCI pts,Shell,WorldMark,OKW,SSR pts; Marriott's Willow Ridge;Val Chatelle; Hono Koa; SBP; SDO; Blue Ridge Village
Yes, you need a receipt from the post office, so send it return receipt requested. It's very important that you do this, so the post office is your proof. I kept our return receipt for two years. Okay, so maybe that was overdoing it. :rofl:
 

AwayWeGo

TUG Review Crew: Expert
TUG Member
Joined
Jun 6, 2005
Messages
15,239
Reaction score
934
Points
499
Location
McLean (Fairfax County), Virginia, USA.
Resorts Owned
Grandview At Las Vegas

[triennial - points]
You Typed A Mouthful.

Jeeze, the salespeople at these resorts should offer access to TUG during their pitches .
Today's timeshare biz is built on high-pressure razzle-dazzle & ballyhoo, with sales pitches featuring truth-stretching & guilt-tripping & psychological manipulation.

The timeshare biz is long overdue for an all-new concept based on full disclosure & informed consumers & the unvarnished truth -- something along the lines of Wal-Mart for newly deeded timeshares & along the lines of CarMax for resales.

Once they drop the traditional fast-talking, carnival barker buy-buy-buy & now-now-now sales concept where customers are viewed as sheep to be fleeced rather than clients to be respected, they might well welcome the refreshing light of day into their sales rooms, including terminals connected to TUG.

I'm not holding my breath waiting for that.

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

vacationtime1

Tug Review Crew: Rookie
TUG Member
Joined
Sep 7, 2006
Messages
4,001
Reaction score
1,463
Points
399
Location
San Francisco
Resorts Owned
WKORV-OF (Maui)
WKV x3 (Scottsdale)
How will you prove they received the fax, if you have to?

Most rescission letters have to go another way, such as first class / certified. Mine did.

But even if they only require fax, I'd get a signature acknowledging receipt. (In another situation, I once faxed some ppw before a deadline, party denied receiving, I had no proof, and it caused me a BIG problem.) To cover my bases in this case, I'd mail it certified too, and get a signed receipt.
Yes, you need a receipt from the post office, so send it return receipt requested. It's very important that you do this, so the post office is your proof. I kept our return receipt for two years. Okay, so maybe that was overdoing it. :rofl:
Rescinding according to the approved methodology and proving that you actually sent a rescission are two different things. It is absolutely essential to rescind according to the rules because if you don't, it doesn't matter that you can prove you rescinded by other means.

If fax is the "approved" method of rescission, print out a fax confirmation.

If return receipt mail is the "approved" method, keep the return receipt.

If first class mail is the approved method, send it via first class mail -- no receipt.

If it makes you feel more comfortable, you may send another copy of your rescission using some method that generates a receipt. But that is not a substitute for doing it by the book. (The only time I bought from the developer, I sent my rescission by first class mail as required; I also sent it via fax and FedEx so I had proof.)
 

deedman

Guest
Joined
Apr 16, 2010
Messages
217
Reaction score
0
Points
0
Location
burbs
sorry to be off topic, but do the points only work at your home resort, or can you use it at the other TS resorts in the portfolio as well.
 

AwayWeGo

TUG Review Crew: Expert
TUG Member
Joined
Jun 6, 2005
Messages
15,239
Reaction score
934
Points
499
Location
McLean (Fairfax County), Virginia, USA.
Resorts Owned
Grandview At Las Vegas

[triennial - points]
RCI Points Are Good For Exchanging Into RCI Points & RCI Weeks Timeshares.

sorry to be off topic, but do the points only work at your home resort, or can you use it at the other TS resorts in the portfolio as well.
If they're RCI points, you can use'm for timeshares that are not in your portfolio at all, just so they've been banked with RCI for other RCI members to reserve on exchange.

Ditto various proprietary points-based timeshare exchange systems -- although if you buy (for example) a resale DRI timeshare, the points are good only at that specific timeshare resort unless you pay DRI big bux to join DRI's points-based timeshare exchange club.

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

celticmutt

Guest
Joined
Aug 2, 2010
Messages
3
Reaction score
0
Points
0
Location
New Jersey
Belt and suspenders! We faxed (an approved method) with a documented receipt of fax for expediency sake, but also sent the letter certified mail with a return receipt (also approved). Can't be too safe when bucks are involved.
CM
ps: Passed on the "hand delivered" method which was the third "approved"!
 

Rob&Carol Q

Guest
Joined
Dec 10, 2009
Messages
535
Reaction score
0
Points
16
Location
Miamisburg, Ohio
Personally, a brass band and a procession of jugglers tossing flaming swords might be in order.

Sometimes you really have to grab their attention...
 

bankr63

TUG Member
Joined
Apr 5, 2009
Messages
508
Reaction score
68
Points
238
Location
Ottawa, ON, Canada
Resorts Owned
Vistana Resort Orlando (2BR, Deeded Wk10) , Silver Lake Resort Orlando (3BRLO)
Personally, a brass band and a procession of jugglers tossing flaming swords might be in order.

Sometimes you really have to grab their attention...
If we're really lucky, they'll be VERY lousy sword jugglers! (oops, I missed!!) :rofl:
 
Top