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Did I get a bad deal

Droogie2799

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We just bought a 1br package at the grand view in las Vegas for 15k. This comes with 49000 annual rich points and two 1 week certificates to use at any RCA property. We bought this today so I have time to recind which sounds like the right thing to do. Why did I get a bad deal, meaning can someone point me to that product for a lot less? Sorry if the questions seems silly but I am just learning about this stuff today.
 

DeniseM

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Hi and welcome to TUG -

As you suspected, you paid way too much. You can buy the same thing on the [resale] market for pennies on the dollar. Please find the instructions in your sales materials to rescind, and follow them exactly.
 
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Droogie2799

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Forgive me for another silly question but what is the rental market?
 

tschwa2

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A few in S and VA, a single resort in NC, MD, PA, and UT, plus Jamaica and the Bahamas

Passepartout

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Forgive me for another silly question but what is the rental market?
You can regularly rent at Grandview Las Vegas for about $250.00 a week.

Rescind now. Then hang here on TUG for a while. Education is free.

Jim
 

DeniseM

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Forgive me for another silly question but what is the rental market?
Sorry - typo - meant "resale market," but as Jim said, it's also very inexpensive to rent there.
 

Droogie2799

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So rescind is the way to go, working on that now. It appears that I just have to fill out one page that I want to cancel and send that to the developer. Could it be that simple? I have read that I must do exactly a instructed but I don't see any other instructions.
 

presley

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So rescind is the way to go, working on that now. It appears that I just have to fill out one page that I want to cancel and send that to the developer. Could it be that simple? I have read that I must do exactly a instructed but I don't see any other instructions.
It can be that simple, but send it certified mail.
 

Passepartout

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+1 on sending it Certified, receipt returned. Then enjoy your vacation. You dodged an expensive bullet. C'mon back when you get back to your 'regular' life.

You'll find most of us own more than one TS week. The vast majority bought resale for 0-10% of retail. Some bought retail first before they became aware of us and resale.

Get thee to the post office. You have an errand to run.

Jim
 

Droogie2799

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Thaks a lot for the information, I am really happy I found this site. I will do exactly as you guys suggested, rescind and enjoy the rest of my vacation. I will be back as vacationing every year, or more, is what I want for my family and me. It appears TSing is the way to go.
 

Rent_Share

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The recision instructions will be stated in your paperwork, follow the method of delivery exaxtly as stated
 

Droogie2799

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From what I read about rescinding it appears I just fill out the revocation form and mail it certified. Mailling it today...
 

sayers

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You have been given good advice. I did exactly what you did in summer 2010 - visited Grandview and bought 1br 49k points with 2 extra weeks for $13k. I rescinded when I got home (be prepared for them to call and offer you an even better deal to not rescind). I ended up buying a 2 br Grandview 80k unit off of eBay for $300. I have my title and have used it once. We will be doing our first exchange later this year. Btw - they asked for most of the materials back, but never for the extra weeks certificates. I was able to hang on to them and they continue to be available. Good luck.
 

kashicaat

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LOL...We missed each other by two days! I rescinded (even though I knew better before I even went in...sheesh) today via certified mail.
 

drbeetee

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Great Decision Buddy! Enjoy TSing on the resale market, the only way to go!
 

Droogie2799

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I just got the call from the parent company of the TS, my refund is on its way and they didn't try to sell me anything else. He asked me why I was canceling and I told him the same product is online for $1, he really didn't say anything after that, awesome, I feel much better. Thank you TUG.
 

m61376

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Congrats! Take the time to read about timesharing and learn what your options are. Once you've narrowed down what you think will the best for your and your family, have patience to find a good price and it will all fall into place. It's a wonderful way to vacation, and think of all that you can do now with the thousands that you've saved!!
 

Burry

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I rescinded too and still have the certificates. I wondered if I could use them. Of course, the problem is that I am not an RCI member. Is it possible for me to join RCI to use one ore more of the ceritificates?
 

theo

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I rescinded too and still have the certificates. I wondered if I could use them. Of course, the problem is that I am not an RCI member. Is it possible for me to join RCI to use one ore more of the ceritificates?
You probably should have returned those certificates when you rescinded, but I'm not the timeshare sales weasel Police. Technically, you have to "own time" at (at least) one RCI -affiliated resort in order to buy into a RCI membership at all in the first place. If you don't have other timeshare ownerships, buying a RCI membership after a purchase cancellation could prove problematic --- but maybe not...

That said, there are certainly plenty of people out there who no longer own timeshare(s) at a RCI-affiliated (or at any other resort, for that matter) who still maintain (and pay for) a RCI membership, in order to be able to access cheap RCI "Last Call" vacation time. It seems clear (to me, anyhow) that RCI really couldn't care less that these folks no longer even own timeshares at all. To RCI, a paying member means some incoming money --- and with RCI it's all about the money.

In short summary, you could certainly at least try to join RCI. Chances are that they don't know (or perhaps even care) that you initiated a purchase, but then later cancelled it. What have you got to lose by making a single toll-free call to try? :shrug:
 
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