Emergency; Final deal Grand Mayan; Need Advice Opinions Please

[TunaImNew]

Hi All,
I`m meeting with the Mayan sales manage today to discuss final negotiation or rescission of our contract.
We`re buying a 2 bdr 2 wk a year for 100 yrs at The Bliss which is new construction infront of The Mayna Palace in Nuevo Vallarta.
Our final purchase price is $21,500 & they say it is worth $59,000 in credit toward a future upgrade her.
They are adding The Sea & Sun Package which is a 2 bdr unit at The Sea Garden & another at The Mayan Palace to the life of the contract. These units have restrictions, not red week units.
Additionally, they are giving us 7 weeks in a 2 bdr to be placed into "Rental Inventory" which will yield us $8000 within in 2 months.
This brings our purchase price down to $13000 if it works.
Additionally, they gave us 40 "Burn Weeks" & 2 "Corporate Weeks".
So, it seems we would have 4 timeshares for the $13000.
WHERE IS THE CATCH? HOW WILL THEY JACK US? The thing that can go wrong is if the rental policy does not actually work.
They say that our 2 bdr yields value as follows; 1 bdr = $1000 & Studio = $700 totalling $1700. We have 2 of these a year for a yearly value of $3400.
Is this real or are they full of it? >They say HSI is the key. They say HSI is linked with Expedia, Orbitz and others and are the best way to exchange TS and rent them. They pretty much guarantee but not quite that we will ge tthe rental money. Are they just flat out lying? If this works we may have a deal, if not no way. PLAESE HELP US

Muchas Gracias All

 

[gmarine]

Stop, think for a second, then rescind. They ARE full of it.

 

[T_R_Oglodyte]

You are wise to get advice before making such a big commitment.

Run away from this deal. Rescind. Also don't let them tell you that you waived your rescission rights. Those are unwaivable under Mexican law.

The rental doesn't work. You can't rent the units for that much money.

++++

You could ask them to guarantee, in writing, that you will receive those amounts of money, net of commissions, if you put the units in the rental pool, and they will make up any difference between what you receive and guaranteed amounts in the contract. If they object, you can simply say that if you are required to put in writing your part of the deal (that is, to pay them money for what they are selling you) they need to put in writing guarantees for what they will be providing to you.

Do this if you would like; I wouldn't because it just keeps the door open for them to continue to apply their sales tactics.

++++

De hecho, if the units offered those returns in rental, they would be stupid for selling the units to the public. They should rent the units themselves and keep those fantastic returns. Actually the returns would be even greater for them because they wouldn't need to run that expensive sales operation that is trying to sell the units to you.

If you work through those questions in your mind, it should be clear that all of this talk about rental returns is just puffery.

 

[theo]

Succinct and correct...

... if the units offered those returns in rental, they would be stupid for selling the units to the public. They should rent the units themselves and keep those fantastic returns. Actually the returns would be even greater for them because they wouldn't need to run that expensive sales operation that is trying to sell the units to you.

Well put. If sellers had steak, they wouldn't have to peddle sizzle.

 

[WINSLOW]

Run as fast and as far as you can. My sister-in-law fell for this with all the rental weeks and bonuses, etc. and once she owned it and tried to do what they said you could do, none of the rentals worked out everything is lies. We sat thru it with her and it's all LIES, LIES, LIES.

 

[Toughbeat]

Hi All,
I`m meeting with the Mayan sales manage today to discuss final negotiation or rescission of our contract.
WHERE IS THE CATCH? HOW WILL THEY JACK US? The thing that can go wrong is if the rental policy does not actually work.
Are they just flat out lying? If this works we may have a deal, if not no way. PLAESE HELP US

Muchas Gracias All

If you've signed, do as recommended and exercise your right to RESCIND immediately!

While they are requiring signatures from you committing to this "deal" (which you will find nearly imposible to unload in the resale market for anything near what you paid), they are expecting you to take their word that those units will "yield" and "rent" etc... a lot of money to you..NOT TRUE!

As was mentioned in a previous post, if they yielded such great rental profits, the resort would keep it and rent them for their own profit.

*You ask, "Are they lying?" "Where is 'the catch?" "How will they jack us?"
Hmmmmm as soon as you sign and the rescission period has lapsed would be my guess.

You stated, "The thing that can go wrong is if the rental policy does not actually work.
EXACTLY!!!!!!!!!

Good luck and please let us know the outcome.

 

[Kimberly614]

Everything I have read on TUG about the Grand Mayan timeshare salesmen is BAD. VERY BAD. Do a search.

Here is one example:

New member seeks help with cancelling Mexican purchase

--------------------------------------------------------------------------------

Hi,
I am a new member with three years to retire. Is there any hope in canceling my contract and getting our deposit back. Quite a large sum.

My husband and I purchase one week - 2 bedroom-red season at the Grand Mayan in Nuevo Vallarta. We purchased on February 7, 2006. When I asked to read the contract our sales rep. said it was being typed, the girl was tired and should have left by now. He showed us what he called a small version of the contract and added it held the same contents as the orginial one. So we initial each paragraph as he read them. On Februay 8th while relaxing by the pool I read the orginial contract to find there was more information in this contract that I didn't approve of. On February 8th my husband called the Mayan Palace where we had signed the paper to cancel. The person that represented the corporation said we can't cancel because we received a preconstruction price. I asked her what preconstruction price, the resort is completed and she said other Mayan resorts are under construction. I explained to her we cannot afford this. She told us if we tried to cancel we would also lose our deposit. The following day she had another person who represents the corporation call us. This person asked my concerns and I explained I can't afford an increase of 5% per year for maintenance fee plus every 5th year the fee doubles to purchase new furniture. She said oh no no no, the maintenance fee doesn't go up every year. No one would purchase if we did that. Our sales rep. said he also owns at the Mayan and his maintenance fee increases every other year sometimes every two years. We still wanted to cancel but she said we couldn't because of this preconstruction purchase.

It took me from 2/13-3/19 to find out we have been given fraudulent information:
We had the right to cancel within five days when we called on 2/8 & 2/9/06.
Mexican Law doesn't allow casino's-One of the sales rep.'s pointed out were they were breaking grounds for the casino.
They told us our week can be traded for one week at a Hotel in USA or International. Our week is worth 2-3 nights and we have to pay the on going rates for the remainder of nights.

They gave us the exchange fees for RCI and SFX (San Francisco Exchange) but they failed to mentioned the astronomical fee for a hotel exchange. $250.00 plus $199.00 yearly membership and of course the maintenance fee.
They gave us three weeks to rent in 2006 to help reduce our purchase price telling us we can get $2500.00 per week. One of the rep.'s said he rents his week every year for $2500.00. I went on the web to view rentals and came across Grand Mayan owners renting their week/s for the cost of their maintenance fee. Realtors, the highest price was $1450.00 before commission. Ebay wasn't any better.

I have contacted other owners I met on the web site and I have been told the maintenance fee increases every single year at the rate of 5%.

I called Mexico and have spoken to one of the rep.'s from the company who told us we couldn't cancel. She said everything is in the contract and we are not responsible if you can't rent or if your maintenance goes up. I asked about the five day cancellation that we had a right to. She just repeated the preconstruction purchase. Please if someone can help us. I read some of the other messages and there was a suggestion to fax Profeco. I couldn't understand how to input the fax number. Can someone advise. Thanks dee

 

[Kimberly614]

And another post:


People on this board probably know more than I do, but Mayan Palace has one of the worst reputations in the timeshare industry. I wouldn't count on any of the promises made to you. For example, I rented a Mayan Palace Nuevo Vallerta 2BR unit for $350 for a whole week once, and I had dozens of choices. I see similar posts as yours every couple of months or so, and the recommendation is almost always cancel your contact AS SOON AS POSSIBLE. Read the contract very carefully on how to cancel and follow the procedures exactly.

If you don't believe me, do a search of the bulletin boards on Mayan Palace. After you do some more investigation, you can always get that same deal.

RUN AWAY!!

 

[Patri]

I'm nervous that you are meeting them in person. They are expert salespeople and will try to wear you down. Skip their speeches. Rescind and get a copy of the recission to take with you.
Get in there, rescind and get out.

 

[Blondie]

Curious why you did not take the advice on the thread you posted about this same issue just yesterday? What else do you need to know? Tuggers have no dog in this fight and are being straight with you. Can you say the same thing about a timeshare salesman?

 

[CatLovers]

Are you nuts?

Are you nuts? Why are you meeting with this guy? His job is to convince you not to rescind ... and he will do whatever necessary to accomplish this. Blatant lies, innuendos, false claims ... whatever is necessary, I can pretty much guarantee that he will do it! And the longer he gets you to dither and dather, the less time you have to legally rescind this deal.

First of all, the rental crap is just that - crap. I'm also willing to bet that all that other "stuff" that they're giving you is either just talk and documented no where in the contract (in which case it is also crap), or upon closer look, you will discover that it is worthless inventory that they could not unload elsewhere. Run, run, far away! If you are absolutely sold on this deal, then rescind (as just about everyone on this board has told you), and research, and in six months, I can guarantee that you will be able to get the same deal (no matter what they tell you about "good for today only")

Tuna, I don't know how the folks on this board can be any more clear in trying to help you. Ultimately though, it depends on whether you really want their help or not. Good luck! I hope, for your sake, that you will do the right thing.

 

[Jennie]

Make sure to follow the rescission procedure set out in your contract EXACTLY. If it says you need to fax it, do so. If it says you need to mail it, do that and get a receipt. In fact, it wouldn't hurt to do it both ways.

If you are planning to give your rescission letter in person, be very careful. Make sure that the terms of your contract list this as an acceptable way to rescind. There have been allegations that they can give you a phony receipt and then deny ever getting anything from you. If you are going to do it in person, demand to give it to the Manager. Get his or her name and title. Have your spouse take a picture of you handing the rescission form to the Manager. Hold up the form to the camera so you will have proof that you did it.

This outfit has a horrendous reputation in the timeshare world. They have been running this scam for years. Do a google search of "Mayan Palace complaints" and you will find many horror stories.

Don't waste anytime. They will try to stall you until you miss the deadline to rescind.

Go to the office and ask to speak with the manager. If your salesman tries to hold a conversation with you, tell him you have found out that he gave you a lot of false info and you do not want to hear anymore garbage. Tell them that you have contacted Profeco and will be letting them know what happens today. No matter what he does, just cut him off even if he offers you more phony "benefits" or pretends to be very hurt, or gets loud and intimidating. They have a whole assortment of tactics to try to make you buy.

I'm quite sure there is a Profeco office in Puerto Vallarta. I recommend that no matter how things work out at the Mayan office, you go to Profeco and let them document what you did. Make sure to tell them about all the "pre construction" bull s---" you were told. The law in Mexico applies to EVERY type of timeshare purchase.

All of the above information applies only if you have already signed a contract agreeing to purchase something from them and/or gave them a deposit, presumably by credit card. If you were smart enough to refuse to sign papers on the day of the presentation, and were merely coming back today to sign it, then it is not as urgent a situation. But if you signed a contract and this is the 5th day, get that rescission done properly. If you paid anything to them by credit card, call your credit card company right away and try to get them to not process the charge. If they have already done so, tell them that you believe there is fraud involved in your transaction and you are going to dispute it. This will be additional evidence that you were rescinding within the required timeframe.

Check out the following links for more info:

http://www.thetimesharebeat.com/mex-fraud.htm

http://www.tugbbs.com/forums/showthread.php?t=70298

Good luck!

 

[Jennie]

I just checked the Profeco web site and see the following information:

"By law, you have five business days to cancel the contract after you have signed it. If you decide to cancel the purchase within this period, notify the developer by email and certified mail. . Keep the receipt as evidence you cancelled on time." (My note: do not send it by Fedex or any other delivery service. Use only the national Post Office. Get a P.O. receipt showing to whom the letter was sent and make sure the P.O. stamps the date on it. The date it is mailed is what counts toward the 5 day period. It doesn't matter when the resort receives it).

"You should receive a prompt refund of all the money you have paid, without any cancelling penalties, within fifteen business days. If the developer refuses to do so or agruments you resigned to this rigth when signing the contract, you may contact extranjeros@profeco.gob.mx.

In Mexico you can visit any Profeco office,
or contact us at +52 (55) 5568-8722."

So based upon the above information, I would urge you to send an Email to the developer and "cc" it to the Profeco Email address. Do it today no matter what happens at the Mayan office.

Also call Profeco and get directions to their office if they still have one in Puerto Vallarta.

Even though this seems like a lot of trouble, believe me it will save you a lot of trouble and anger and grief later on trying to undo the damage after you get home.

Sorry your vacation was ruined by these creeps. Most Americans know in advance not to go to timeshare sales presentation in Mexico (except for the Royal Resorts in Cancun which is a first-class honest operation).

 

[Jim C]

So, what happened??

Curious why you did not take the advice on the thread you posted about this same issue just yesterday? What else do you need to know? Tuggers have no dog in this fight and are being straight with you. Can you say the same thing about a timeshare salesman?

Totally agree with Blondie. So,Tuna, what happened???

 

[Toughbeat]

TUNA--
You started this thread a few days ago saying you were to meet "today" with the timeshare people to discuss rescission of the purchase. This implies you were still within the rescission period of course.

Can you let us know the outcome and what went on during the discussion? We'd all like to know the end result and what was said. This information would be of great help to those finding themselves in a similar situation and we can all benefit from your experience. That's what this forum is about: sharing information and helping each other. Thanks!

 

[nightnurse613]

Ny guess is they bought. My husband and I went through one of their presentation earlier this year. They were RELENTLESS. It finally came down to the salesman YELLING at my husband-if you didn't want to buy why did you attend the presentation? That pretty much wrapped up the discussion.

 

[Blondie]

Well, the OP has posted about this three times since OCt 28 and has gotten the exact same dire info on each thread. If he does not get it by now...

 

[Zac495]

I hope you rescinded and hope you will post to let us know what happened. You got a lot of good people's time and energy. Your story will help others.

 

[TunaImNew]

The Outcome

Hi all,

Thank you for all of your considered responses to my emergency post. In the end, we did rescind. (Applause!) They actually cancelled the contract without a lot of grief. Surprisingly, they were never disrespectful or rude in the process. They issued us a signed cancelation letter instructing a full refund on our credit card,and acknowledging that the recision provisions of the contract had been met. They also gave us a full set of the contract docs. The full refund was credited to our credit card within a couple of days.

We expected they would jerks as we tried to rescind, especially because of Mayan's reputation for being so hard core. But they were cordial and respectful. I wonder if it was because they knew my wife is an attorney, or if they are actually trying to improve. Doesn't matter, we got out.

Thanks again for all who provided such quick and thoughtful responses!

 

[pammex]

Hi all,

Thank you for all of your considered responses to my emergency post. In the end, we did rescind. (Applause!) They actually cancelled the contract without a lot of grief. Surprisingly, they were never disrespectful or rude in the process. They issued us a signed cancelation letter instructing a full refund on our credit card,and acknowledging that the recision provisions of the contract had been met. They also gave us a full set of the contract docs. The full refund was credited to our credit card within a couple of days.

We expected they would jerks as we tried to rescind, especially because of Mayan's reputation for being so hard core. But they were cordial and respectful. I wonder if it was because they knew my wife is an attorney, or if they are actually trying to improve. Doesn't matter, we got out.

Thanks again for all who provided such quick and thoughtful responses!

Congrats.....I am an owner at Mayan and actually here now in NV. They are nice resorts and the units are nice. The sales tactics leave a lot to be desired. I use my weeks and if not I do not pay MF, so it works for me but I did not attend the short update meeting this visit, though I was curious to hear all the new tales......

You can buy resale on ebay and do much better. I'll probably attend an update beginning of next year just for info and such but no more upgrades or such for me. I have what I need and the rental info is never true!!!

Best Wishes...Congrats.

 

[Tia]

TunaImNew,

Thanks for taking the time to post your result! Much appreciated, glad there was a positive outcome.

 

[PeelBoy]

Well, I have nothing to add, since such a wise decision had been made.

I wont buy into Grand Mayan, especially through the developer. However, I have no hesitation exchanging into any of their properties or getting a last minute rental from DAE or SFX. Their properties are lovely.

 

[cb1vp]

Grand Mayan - Nuevo Vallarta

I would be very interested in knowing how this turned out for you. We are here at the Grand Mayan and trying to make decisions for ourselves.

Thanks

 

[AKE]

Don't buy!!!

 

[judy23]

cb1vp,
DONOT BUY FROM THE DEVELOPER, You can buy resale for a fraction of the price. We made that mistake and were very sorry, It was long before i knew TUG existed