Diamond Resorts 30,000 Purchase Recission Question

[artringwald]

Hi I'm a new Tug member. My husband and I bought a Diamond Resort timeshare. Cost $13,900 for 10 years, 7500 points and about $1,000 for MFs. We have been reviewing our docs and we have changed our minds and we're cancelling. Per their contract, we have 7 days to cancel and today is our 4th day since the purchase and today is Friday. So we followed your cancel sample letter and went to UPS and sent it Certified just like as stated. It will leave the UPS store tomorrow morning. We also emailed the letter to the sales person and sales manager. I don't know if this was necessary. Another dumb thing we did was to open a Barclay credit card and we put our entire purchase price on it instead of financing it through Diamond Resorts. Its a 6 month no interest and we thought we could pay at the end of 6 months. Seemed like a good idea at the time.

I'm seeking advice. Do you think there's something else I need to do to make sure I cancel this thing correctly and get all our money back? I want to do all I can in this 7 days rescission period. Thanks in advance.

One thing you don't want to do is to answer the phone if anyone from Diamond calls. They'll twist your arm and come up with new deals and all kinds of reasons why you shouldn't cancel. Don't even talk to them.

 

[TUGBrian]

Hi I'm a new Tug member. My husband and I bought a Diamond Resort timeshare. Cost $13,900 for 10 years, 7500 points and about $1,000 for MFs. We have been reviewing our docs and we have changed our minds and we're cancelling. Per their contract, we have 7 days to cancel and today is our 4th day since the purchase and today is Friday. So we followed your cancel sample letter and went to UPS and sent it Certified just like as stated. It will leave the UPS store tomorrow morning. We also emailed the letter to the sales person and sales manager. I don't know if this was necessary. Another dumb thing we did was to open a Barclay credit card and we put our entire purchase price on it instead of financing it through Diamond Resorts. Its a 6 month no interest and we thought we could pay at the end of 6 months. Seemed like a good idea at the time.

I'm seeking advice. Do you think there's something else I need to do to make sure I cancel this thing correctly and get all our money back? I want to do all I can in this 7 days rescission period. Thanks in advance.

congrats on finding TUG in time to save $13,900!

 

[applepie]

I wouldn't talk to the sales people because they'll keep offering you deals and won't fully refund your credit card. You did the right thing by sending the message UPS with tracking. Confirm receipt on it. They will send you an email letting you know that they received your request and are reviewing your contract, then they will send you something in the mail from American Title cancelling the sale. The credit card should be refunded within a couple of weeks. Just be vigilant and stay on top of it to make sure it goes through. I had no problem with my cancellation(s). I did make the mistake of talking to the salesperson, which is why I had to do a second cancellation on a deal that wasn't even signed.

 

[DRICaptive]

Hi I'm a new Tug member. My husband and I bought a Diamond Resort timeshare. Cost $13,900 for 10 years, 7500 points and about $1,000 for MFs. We have been reviewing our docs and we have changed our minds and we're cancelling. Per their contract, we have 7 days to cancel and today is our 4th day since the purchase and today is Friday. So we followed your cancel sample letter and went to UPS and sent it Certified just like as stated. It will leave the UPS store tomorrow morning. We also emailed the letter to the sales person and sales manager. I don't know if this was necessary. Another dumb thing we did was to open a Barclay credit card and we put our entire purchase price on it instead of financing it through Diamond Resorts. Its a 6 month no interest and we thought we could pay at the end of 6 months. Seemed like a good idea at the time.

I'm seeking advice. Do you think there's something else I need to do to make sure I cancel this thing correctly and get all our money back? I want to do all I can in this 7 days rescission period. Thanks in advance.

I would also contact the financial office in case the sales people do not follow through. Since we all know how much integrity they have!!

 

[Ruthn]

I wanted to thank everyone who gave me recommendations once we decided to cancel. What to do or not do was important. The salesperson called and emailed me and tried talking me out of it. But it was too late my mind was made up and the certified letter was in the mail. Update: Our credit card was refunded 100%. We received our title a letter from American Title canceling the sale. We’re never buying retail again. Thanks again!

 

[pedro47]

To the OP, and welcome to TUG. In the next few days or weeks you will received probably three (3) to (4) phones calls per day from Diamond. Please do not answer you phone. They are going to reduce the points costs. They just want to make a sell.

 

[LannyPC]

To the OP, and welcome to TUG. In the next few days or weeks you will received probably three (3) to (4) phones calls per day from Diamond. Please do not answer you phone. They are going to reduce the points costs. They just want to make a sell.

You do realize that the OP posted over four months ago, don't you? Are you responding to the OP or another post in this thread?

 

[LannyPC]

The salesperson called and emailed me and tried talking me out of it. But it was too late my mind was made up...

Thanks for posting this update. You confirmed what many here on TUG try to tell purchasers who are in the process of rescinding their purchases.

Just out of curiosity, did the sales person try to sweeten the deal and up the offer or did he make some sort of threat that you would face some serious legal and/or financial consequences?

 

[Ruthn]

Hi Lanny, first of all, we were lucky we had a 7 day rescission period. So 2 days after we signed, I started looking thoroughly through the paperwork and called the agent to ask questions. They did not get back to us for 24 hours. At this point, i was already thinking we had made a big mistake. I just had to convince my husband we needed to cancel and he finally agreed. We sat down and wrote the rescission letter and went to the UPS store. They finally called back. So at first they were oh sorry for our delay in responding. Once we told them we were cancelling they tried to change our minds, but they didn’t offer any deals or make any threats. Two phone calls and it was over once we said the letter was on it’s way to Las Vegas. We just said we changed our minds and we’re following the instructions to cancel per the contract. She said it was too bad we didn’t wait to hear from them. So they didn’t get a chance really to offer any other deals. Thanks to TUG and all your support once again!