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Help-Urgent

sftballer1

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Hello All:

We just got back from the Mayan Palace Regency - Riviera Maya. We have had a timeshare for along time but are still not well versed in timeshare ownership except for complaining about our maintenance fees and RCI. Here is the deal. Please give me your advice.

Price: 20,816.00
Closing: 1414.00
IVA Tax: 3333.00
Total: 25,563.00

Purchase was: One Registered week and One Vacation Fair Week (Bonus week that can be exchanged,traded, etc.) in a Master Suite - 2bd,2bth, Kitchen (lockoff for hotel unit and 1 bedroom); 5 years of RCI, 1 year of Holiday Systems International (HSI) which includes 25 Breakaway weeks, lifetime membership into SFX. They gave me wholesale credit for my current resort (Morritt's Tortuga Club 2bd,2bth Ocean and Pool) weeks of $29000 and let me keep my weeks to sell or keep if I wanted to.

Other Information: I have to rent the Vacation Fair week through one of their brokers for the first 5 years. They indicated that I would get at least $1700 (net) from the rental of these units through the broker.

Interesting Point: They showed in their sales brochures that they (Mayan Group) were ranked number 3 on trading power which would mean that I would have an advantage over most others????

Is this a good deal or should I just cancel the contract? :eek:
 

timeos2

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No, not a good deal

If you can rescind (cancel) do it - NOW! Take a look at eBay or any other resale timeshare site. You can buy what you are paying over $25K for for well under $5K is you REALLY want it. It's also an extremely easy trade so why even own?

You already know it isn't a good deal thats why you asked. Trust your instincts and rescind.
 

pjrose

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If you go on the Mexico section of tugbbs you should find other posts similar to yours. Search for "mayan palace" and "rescind"
 

pammex

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I own at the Mayan Palace Regency and well frankly recind and buy resale...now!! Nice resort but can get cheaper on resale market...good luck!
 

caribbean

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Welcome to TUG

CANCEL NOW!!!!

Follow the directions in your contract exactly to the letter. Keep copies of what you send. Fax it to them then put it into the mail with certified return receipt.

Once it is all straight then you will have time to read here on the boards to determine what resale propertry will work best to meet your travel needs. You may want to own resale at the same resort or you may find that some other resort will better meet your needs. Either way, become educated than buy resale.
 

Pit

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Just joining the chorus. Rescind NOW, before its too late.
 

grest

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Me too....rescind, rescind! I assure you that if you want this same deal later you can get it. But instead, if that's the resort you want after reading more, you could get it for a lot less. Take the time you need and save money!
Good luck with this.
Connie
 

sftballer1

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Hello All:

Thanks for your help on this. I will send the recind letter by certified mail on Sunday at the Main Post Office.

I am just really tired of paying $1840/yr MFs for 2 weeks at Morritt's Tortuga Club in Grand Cayman and not having any luck with Comparable Resorts with RCI on trades for places we want to go.

Any suggestions would be great.

Thanks
 

Passepartout

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Hello All:

Thanks for your help on this. I will send the recind letter by certified mail on Sunday at the Main Post Office.

I am just really tired of paying $1840/yr MFs for 2 weeks at Morritt's Tortuga Club in Grand Cayman and not having any luck with Comparable Resorts with RCI on trades for places we want to go.

Any suggestions would be great.

Thanks
Gosh, you have a lot more full service post office than we have. Nobody's home on Sunday here!

Good luck on finding comparable exchanges on what appears to be another TS you own. Hang out in TUG, ask questions, learn all you can about trading, and maybe the pain of over $150/month MF can be reduced.

Welcome to TUG. As has been said many many times before, Join TUG first, buy TS later.

Jim Ricks
 

Twinkstarr

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Gosh, you have a lot more full service post office than we have. Nobody's home on Sunday here!

Jim Ricks
We have a couple of grocery stores that have "full service USPS" at their service counters. They are even listed when you do a search at USPS.com
 

lprstn

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Hello All:

Thanks for your help on this. I will send the recind letter by certified mail on Sunday at the Main Post Office.

I am just really tired of paying $1840/yr MFs for 2 weeks at Morritt's Tortuga Club in Grand Cayman and not having any luck with Comparable Resorts with RCI on trades for places we want to go.

Any suggestions would be great.

Thanks
Sell your Morritts and you can do the following;

- Think about how you vacation and what you want to accomplish with TS
- Sell and Rent the week/type you want for awhile
- Purchase (resale) into a points system that has the locations and places you want to go or
- Purchase (resale) at a quality location for a fixed week that you would want to go to at least every other year.
- Consider combining purchase types, get a fixed week where you love to go a lot, and a points based system to compliment it.


How did I do it? Well I made mistakes initially like everyone else, but am now happy and this is how it works for me...

- I own Wyndam points, Sheraton Vistana, and Presidential Resorts (VA)
- This gives me "free" memberships with both II and RCI
- The Wyndam points (500,000pts) allows me to Bank small deposit weeks, book weekends/weeks/large or small units whenever I want to (no more than 10 months in advance) my MFs are $207 a month and I can get about 15 weeks of travel with RCI out of this.
- The Sheraton gives me priority bookings within II of all Sheraton weeks and I can now use my Starpoints to call Sheraton direct to book at their other resorts. $671 MFs a year
- The Presidential resort I get the use of a cabin every 5 years, and unlimited day use of the premises (this is 1 hr from my home) and unlimited rental of camping trailers, as well as storage of my own camping trailer. I can stay at this property in my own trailer or a rented trailer for up to 9 months out of a year. $350 MFs a year

My DH and I believe we have the best portfolio for us as we retire and now we just go on at least 1 week vacation or "mini" week vacation every month, use the Presidential resort facilities at least 12 times a year, which makes it well worth paying the MFs to us...

Now if I had purchased them all resale...my total sticker price would be a lot less but...I did it like this;

-Sheraton - $2800 resale price (I paid for a 2bd resale @ Vistana)
-Wyndam - $5000-6500 resale price (I would have paid resale...but I paid $25,800 with partial through the developer - and partial resale)
- Presidential - $350 resale price (I paid for it resale)

So...once you figure out how you vacation, what you are happy spending in MFs, and maybe get a points system to compliment your weeks favorite location than you may be happy.
 
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RIMike

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Listen to the advice on here...

The best resorts in Cancun by most accounts are Royals (yes I am an owner there). They are ranked in the top ten of all TS resorts on here. And I own two weeks ....very HIGH demand weeks...and I did not pay as much as you did for either of my weeks.

Get out now!
 

sftballer1

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Thanks for your assistance

Hello All:

Thanks again for all of your assistance. Its nice to know that you can get such quick responses on urgent matters. I just got back from the post office (DFW Airport) and sent the cancellation registered mail return receipt requested. The document said certified mail but the post office indicated that you can't certify mail to a Mexican address. I also sent faxes to the sales office and emails to customer service. I hope this all works.

I suppose I should contact my credit card company. What should I tell them?

Thanks everyone.
 

dr.debs

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Sell your Morritts and you can do the following;

- Think about how you vacation and what you want to accomplish with TS
- Sell and Rent the week/type you want for awhile
- Purchase (resale) into a points system that has the locations and places you want to go or
- Purchase (resale) at a quality location for a fixed week that you would want to go to at least every other year.
- Consider combining purchase types, get a fixed week where you love to go a lot, and a points based system to compliment it.


How did I do it? Well I made mistakes initially like everyone else, but am now happy and this is how it works for me...

- I own Wyndam points, Sheraton Vistana, and Presidential Resorts (VA)
- This gives me "free" memberships with both II and RCI
- The Wyndam points (500,000pts) allows me to Bank small deposit weeks, book weekends/weeks/large or small units whenever I want to (no more than 10 months in advance) my MFs are $207 a month and I can get about 15 weeks of travel with RCI out of this.
- The Sheraton gives me priority bookings within II of all Sheraton weeks and I can now use my Starpoints to call Sheraton direct to book at their other resorts. $671 MFs a year
- The Presidential resort I get the use of a cabin every 5 years, and unlimited day use of the premises (this is 1 hr from my home) and unlimited rental of camping trailers, as well as storage of my own camping trailer. I can stay at this property in my own trailer or a rented trailer for up to 9 months out of a year. $350 MFs a year

My DH and I believe we have the best portfolio for us as we retire and now we just go on at least 1 week vacation or "mini" week vacation every month, use the Presidential resort facilities at least 12 times a year, which makes it well worth paying the MFs to us...

Now if I had purchased them all resale...my total sticker price would be a lot less but...I did it like this;

-Sheraton - $2800 resale price (I paid for a 2bd resale @ Vistana)
-Wyndam - $5000-6500 resale price (I would have paid resale...but I paid $25,800 with partial through the developer - and partial resale)
- Presidential - $350 resale price (I paid for it resale)

So...once you figure out how you vacation, what you are happy spending in MFs, and maybe get a points system to compliment your weeks favorite location than you may be happy.
Hmmm- I have been looking for wyndam points membership on the resale market. I have been seeing prices on ebay for about 3K/6000 points. I would be interested to know where you have seen 500K pts resale for 5-:shrug: 6K?
 

Pit

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Hmmm- I have been looking for wyndam points membership on the resale market. I have been seeing prices on ebay for about 3K/6000 points. I would be interested to know where you have seen 500K pts resale for 5-:shrug: 6K?
They show up on ebay all the time. Here are a couple recent examples...

518,000 pts

605,000 pts
 

lprstn

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Hmmm- I have been looking for wyndam points membership on the resale market. I have been seeing prices on ebay for about 3K/6000 points. I would be interested to know where you have seen 500K pts resale for 5-:shrug: 6K?
If you contact Tom Cornelius who advertises on TUG classifieds, he is really good at putting together a points package at an affordable cost for most people. He did this for me and one of my friends. Of course for the $5K-$6K price tag you will have slightly higher MF's...

I have also had friends purchase via ebay and spend within this range by mixing wyndam points packages.
 

theo

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voluntarily deleted "old news" reply here...
 
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