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Help please, rescinding contract and unsure about converting fixed to Flex!

CynL

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1. I own a fixed week in Springs at Vistana Resort, purchased from the developer in 1997.

2. I've only traded or exchanged this through RCI.

3. I don't remember being offered opportunities to convert Starwood Flex, but if I did I was probably suspicious of it.

4. My ex quitclaimed this to my current husband and me. I filed and had the deed approved by the Orange County Comptroller.
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We just returned from using the fixed week. I requested to update Vistana to remove my ex, add my husband and change my name per the updated deed. We were told this could be done during an "Owners Update Meeting."

At the meeting, we were told we could convert the fixed week to 81,000 Sheraton Flex (options?), which would then convert to 3X their value with the Marriott purchase conversion after August 1, 2018

We'd get 81,000 in star OPTIONS for the week (equal to 42,000 star points)

Naturally they wanted us to buy MORE, when I asked about straight conversion I was told we'd have to BUY THE PROPERTY AGAIN at current "market" of $30,000+! Sheesh!

However, there would be at no charge to convert with an additional purchase.

At a cost of over $16,000 we agreed to purchase the equivalent of a 1 bedroom=44,000 annual POINTS ("Star" was not listed, it doesn't make sense that it has higher POINTS than our 2 bedroom) Then sales added 70,000 additional points.

We are rescinding the 44,000 purchase.

However, the CONVERSION FROM FIXED TO FLEX is a separate document.

Please, I need advice!!! Should we rescind the conversion as well and keep our FIXED WEEK unit? We were told that there was no way to tell how long the fixed week would be "honored" ...as if Marriott may decide to take it away.

Is holding our fixed week more valuable than having it lumped into FLEX?

SVG membership was mentioned, I believe I have a login account for SPG currently and we have the SVG point earning AMEX cards, could I earn points that way even if my unit remains a fixed unit?

We only have 1 more day to request a rescission of the contract for conversion of our unit. They may automatically rescind the conversion, but it was a separate contract by all appearances. Thanks for your help!
 

TUGBrian

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you should absolutely rescind, if for no other reason than to have time to do your research.

you will then likely find far easier and cheaper ways to obtain what you seek via the resale market!
 

VacationForever

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Rescind is the only answer. The salesperson lied. You own a fixed deeded week and that can never be taken away.

If they can convert your week for free, then it is fine, as that will enable you to use Staroptions.
 

CynL

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Rescind is the only answer. The salesperson lied. You own a fixed deeded week and that can never be taken away.

If they can convert your week for free, then it is fine.
That's what I THINK might happen. The contract is separate from the purchase, and there's no conversion fees associated with it.

Is the point/option system reasonable for using the weeks? I see where some folks have difficulties with availability, but I've not had time to dig in and find out if there's a better way to get what you'd like.

Cindy
 

TUGBrian

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but I've not had time to dig in and find out if there's a better way to get what you'd like.

Cindy
and again, the number one reason to rescind right here!

you will ALWAYS have the option to go back and rebuy whatever that salesman was hocking to you....you will however completely lose your ability to rescind in a very short few days.
 

VacationForever

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That's what I THINK might happen. The contract is separate from the purchase, and there's no conversion fees associated with it.

Is the point/option system reasonable for using the weeks? I see where some folks have difficulties with availability, but I've not had time to dig in and find out if there's a better way to get what you'd like.

Cindy
#1. Rescind the purchase NOW! Go to USPS now, and get the letter mailed, with tracking/certified.
#2. Do you always use your Fixed week? If so, then you do not need to convert. If you want the option of using the internal network for booking other Vistana resorts, then a free conversion will help you do that. With 81K Flex/Staroptions, you can book 1BR at Hawaii etc. You need to look at the Staroption chart here.
 

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CynL

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We went to USPS two hours ago and sent off a letter exercising our right of rescission for the contract
The purchase was fully charged to our SPG AM EX cards. Are they going to be difficult with refunding or reversing the charges?

Since it's a different contract number, I haven't taken any action on the Fixed week to Flex contract. I have until tomorrow to rescind that if needed. I don't remember seeing anything that made that conversion contingent on our purchase contract. Any experience with this? I'm going to comb through and make sure they can't hit me with some horrible cost if we convert without an additional purchase.

Did many owners voluntarily convert fixed weeks to options/points when it was offered in the past? Is it normal for sales to try and make me to pay what they think the current market price is on my already paid unit?

The Star Options look like a good thing, without them, I think we can still trade into one of 6 properties? I heard information during the update that was completely new to me! I don't want to beat a dead horse when this must be explained already, Ill go back through the forums. I skipped over all posts about points in the past!

If it's a bad deal, or it's impossible to actually GET a 1-bedroom in Hawaii (which would be awesome!) I want to rescind that contract too. If it converts with no expense to me, that seems like it could be a good deal.

While weighing the pros and cons of the fixed week, we really liked our unit! I thought the Springs might not be as nice as other areas, but we had our pool entrance just steps from our bank door. It really was lovely!

A final question...is it possible to earn SPG AM EX points if you have no property in the system already? I can't imagine we'd use it enough, I'm wondering if this could this be a reason to keep our fixed week, because we'll get points another way?

Sorry I have so many questions! I think I HATE possible REAL upgrades even worse than the shady sales tactics!

I'm not so much nervous about change, I just want to feel like the change is beneficial!

Thanks everyone!
 

CynL

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Thank you VacationForever for the chart!!!
 

VacationForever

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We went to USPS two hours ago and sent off a letter exercising our right of rescission for the contract
The purchase was fully charged to our SPG AM EX cards. Are they going to be difficult with refunding or reversing the charges?

<ANSWER:> Good job. They should not be difficult about this at all. This is one of the better companies to work wrt rescinding a contract. They should be issuing a credit in a couple of weeks' time. In the meantime, you should just go to SPG Amex site and dispute that charge and indicate that charge should be removed because you have rescinded according to the contract as of 05/21/2018.

Since it's a different contract number, I haven't taken any action on the Fixed week to Flex contract. I have until tomorrow to rescind that if needed. I don't remember seeing anything that made that conversion contingent on our purchase contract. Any experience with this? I'm going to comb through and make sure they can't hit me with some horrible cost if we convert without an additional purchase.
<ANSWER:> It is possible that they treated this as a "retro/requalification" contingent on the other purchase and nullify this with your rescission. Time will tell.

Did many owners voluntarily convert fixed weeks to options/points when it was offered in the past? Is it normal for sales to try and make me to pay what they think the current market price is on my already paid unit?
<ANSWER:> Unheard of, so I suspect that this is a retro/requalification contingent on your other purchase. If so, then say, NO, THANK YOU.

The Star Options look like a good thing, without them, I think we can still trade into one of 6 properties? I heard information during the update that was completely new to me! I don't want to beat a dead horse when this must be explained already, Ill go back through the forums. I skipped over all posts about points in the past!
<ANSWER:> If it fully gets turned into Flex Options, then your maintenance fees also go up, which is a DOWNSIDE of having your ownership become Flex Options. If they are merely bringing it into the system, then this fixed week is not changed into Flex Options, but instead you have Star Options which you can use at 8 months out and also with the option to convert to Starpoints (hotel points). If the latter, then you get to elect each year whether you want to use it as a fixed week or deposited into II, or you want to use it as Star Options booking or every other year to turn into Starpoints/hotel points. You need to know what this second contract says!

If it's a bad deal, or it's impossible to actually GET a 1-bedroom in Hawaii (which would be awesome!) I want to rescind that contract too. If it converts with no expense to me, that seems like it could be a good deal.
<ANSWER> As long as you book right at 8 months, you should be able to book at most resorts.

While weighing the pros and cons of the fixed week, we really liked our unit! I thought the Springs might not be as nice as other areas, but we had our pool entrance just steps from our bank door. It really was lovely!

A final question...is it possible to earn SPG AM EX points if you have no property in the system already? I can't imagine we'd use it enough, I'm wondering if this could this be a reason to keep our fixed week, because we'll get points another way?
<ANSWER> SPG Amex is an entirely separate product and is separate from your ownership. Anyone can have a SPG Amex and be able to accumulate SPG points.

Sorry I have so many questions! I think I HATE possible REAL upgrades even worse than the shady sales tactics!

I'm not so much nervous about change, I just want to feel like the change is beneficial!

Thanks everyone!
See response inline.
 

okwiater

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I would not dispute the charge with AMEX until you have allowed a reasonable amount of time for Vistana to process the rescission. Disputing a charge is a hostile action which costs the merchant money, and it should only be done when the merchant has violated some aspect of the explicit or implicit purchase agreement and you have exhausted your other options. As stated above, Vistana has historically been extremely ethical when it comes to processing rescissions and I do not believe there is even one single story on TUG of someone who attempted to rescind *with Vistana* within the allotted period of time and did not receive a prompt refund.

As long as you've followed the rescission instructions in the contract, and sent it USPS with proof of mailing, you should feel comfortable that everything will be handled properly.
 

canesfan

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Yes, you can still earn SPG points (or whatever they are going to call them in August). It has nothing to do with your timeshare.


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