Got sucked into buying a TS and would like to know if I made the right decision!

[taterhed]

We would love to own our own TS. My in-laws have a TS that we have been using WITH them for years. The main reason why we signed up was to "spread our wings and fly" on our own. Looking at eBay for resales now. Not sure why we would spend 11k when people are willing to give them away (now I know...thanks TUG). I do not mind the yearly MF (MF means maintenance fee right??). Ohhh and I think we will stick to the Mexico (PV/Cancun) resorts. I feel like you get a lot more for your money.

There are many great ways to purchase timeshares via resale.

Ebay is one......that has a lot of good and bad sellers. So does the general 'google search' provided by the internet.

Take time to learn what's right for your vacation needs and study up here on TUG.
Consider becoming a member of TUG: it's the best $15 you'll ever spend.

There are a number of resellers, depending on brand you are looking for, that are well respected by tugger's. They may not always have the lowest "bargain basement eBay price," but they tend to have accurately listed sales and less hidden fees and excessive delays than some bargain sellers.

Again, learn before buying and just buy the right thing--the first time!

Cheers

 

[bvogel7475]

Run, don't walk away as soon as possible. If you are crazy enough to buy a Marriott timeshare like me, buy it on the secondary market. I paid $25K for my timeshare in 2008 and you can now buy it on the secondary market for about $5 grand. I honestly can't think of a worse financial decision I've made in my life and I am a CPA. They do a great job of tapping into your emotions etc. They have it down to an emotional science and have used psychologists and test groups to perfect their process.

 

[mcfarke311]

Hello Everyone!
So I was in Florida with my family this pass week, at the Holiday Inn Orange Lake Resort, when I got sucked into doing a supposedly 90 minutes TS, that turns into 5 and half long hours. Me and my girl thought we had a good deal, until I start doing some research when we got back, and stumbled across tug and those reviews that I’ve read so far, just make me want to call the whole things off!!!

Although we were promised a bunch of things, as far as having the TS for life, with the deed send out to use when we’re almost done with the payment and be able to pass it down to our 3 boys in the future and they can also do the same once they have children on their own. I’m still kind of skeptic about the whole thing.

The TS is 85,000 points for $15,000 and of course I don’t have that kind of money just laying around, so we have a 10 Year loan through them, We can travel to anywhere around the us and aboard as long as we have enough points, which replenish every January, all we’ll have to do is make monthly payment and also pay the MF of $800+ each year, and if don’t travel each year and don’t use our points, we can transfer them to IHG which they never expired and we can also, use those points on airfare, car rental and cruises. I was also contemplating of opening an IHG credit to get more points.

We have no experience whatsoever with TS and would like some knowledgeable advice please!

You are not alone, I also got sucked into it. Good news, Florida has a 10 day rescission period and I sent my notice in yesterday via certified, receipt requested mail. You should do that if you feel that you want to back out. The time is now! You can always go back and buy again, but you won't ever have the chance to back out once it is yours.

The letter has to be postmarked by midnight on the 10th calendar day following the transaction.

My rescission letter was as follows:


Notice of Rescission

Contract #: XX-XXXXXX




Date: DATE GOES HERE



To:

DEVELOPER NAME GOES HERE

℅ GRAND VACATIONS SERVICES LLC

ATTN: CONTACT NAME

ADDRESS

CITY, STATE, ZIP



Dear Sir or Madam:


We have entered into the contract numbered XX-XXXXXX with you on May 18, 2018 intended to purchase timeshare property in the Ocean 22 Development in Myrtle Beach, South Carolina.


Pursuant to the RESCISSION section of our contract, We hereby notify you of our rescinding of said contract, which rescission is made within ten (10) days from the contract date in compliance with Chapter 721, Florida Statutes. We hereby request the return of funds paid in the amount of AMOUNT-WRITTEN-OUT (NUMERICAL DOLLAR AMOUNT) within twenty (20) days of receipt of this notice as required by law. We also request an immediate response with a written confirmation of contract cancellation and an itemized list of items necessary to be returned in order to receive a full refund.



Sincerely,







Name 1 Name 2




Attachments: Two (2) Credit card sales drafts totalling an amount of NUMERICAL DOLLAR AMOUNT; Exhibit A from contract listing full property description; Page 1 of Purchase agreement to be cancelled.

CERTIFIED MAIL, Return Receipt Requested







Good luck to you! Get it in the mail ASAP! If you are like me, you won't get a good nights sleep until you do

 

[taterhed]

Uh, ok.

Well, A quick note before I forget.....

In my opinion...and that of quite a few others....

Mexican timeshares are best rented or exchanged. I would be very very careful about purchasing anything south of the border.....

 

[silentg]

We own at OL we bought a resale, 127,000points. We use it to book IHG stays and other HICV resorts. We live nearby so we get Day use there too. I’ve been reading posts lately that HICV is pulling Right of First Refusal on resale’s. Have any of you had this happen?
Silentg

 

[MARIMELENA]

Hello Everyone!
So I was in Florida with my family this pass week, at the Holiday Inn Orange Lake Resort, when I got sucked into doing a supposedly 90 minutes TS, that turns into 5 and half long hours. Me and my girl thought we had a good deal, until I start doing some research when we got back, and stumbled across tug and those reviews that I’ve read so far, just make me want to call the whole things off!!!

Although we were promised a bunch of things, as far as having the TS for life, with the deed send out to use when we’re almost done with the payment and be able to pass it down to our 3 boys in the future and they can also do the same once they have children on their own. I’m still kind of skeptic about the whole thing.

The TS is 85,000 points for $15,000 and of course I don’t have that kind of money just laying around, so we have a 10 Year loan through them, We can travel to anywhere around the us and aboard as long as we have enough points, which replenish every January, all we’ll have to do is make monthly payment and also pay the MF of $800+ each year, and if don’t travel each year and don’t use our points, we can transfer them to IHG which they never expired and we can also, use those points on airfare, car rental and cruises. I was also contemplating of opening an IHG credit to get more points.

We have no experience whatsoever with TS and would like some knowledgeable advice please!

So glad I found your notice. We just went through the same thing, Red Lobster lunch and all, and were exited to have 90,000 points plus 500,000 extras by giving up our Bonia Beach Resort and Manhattan Club deeds! It would have cost us $15,000 plus $900 a year. Now we are ready to rescind also. We should have know better!
thank you,
Marimelena

 

[MARIMELENA]

Does anyone have experience with The Manhattan Club?

 

[LannyPC]

Does anyone have experience with The Manhattan Club?

There are probably some threads about the MC in the US Eastern Timeshares region Forum. Start there. Most responses are unfavourable toward the MC.

 

[HudsHut]

OrangeJuice1999:
Congrats on rescinding. Slow down. Read, read, read in order to learn which system is best for you, if any. What do your parents own?
Do not buy in Mexico.
You can rent timeshares in Mexico, or exchange into them, but don't own them.