Help!

[Phil327]

My wife and I are in Cabo right now! We purchased a one week share at Pueblo Bonita Sunset Beach. I think we did alright, but I had a few more questions to ask and all of a sudden we were sigining contracts! I wanted to wait at least a day to do my net research. My inlays have 2 weeks down here every year and they are charter members at Sunset. Here comes all of the negatives I know! I don't want them or need them. I think we will actually use our week, my problem is our "out". The inlaws said that they never got any money back from turning back in their week instead of banking it. We were told that if we turned next years week in between the 1st of oct. And the 15th of dec that we were guaranteed our investment in the week plus the extra rental fee minus 30% which would net us about 500 bucks every year we couldn't go. Is this bs? I know there is a market for this suff and not everyone could have had a terrible experience with this? We are leaving on Tuesday and would like to get some answers and positive feedback before going back in to speak with the people. I didn't get anything in writing about this and would almost like to backout all the way? Probably too late for that?

 

[Phil327]

Tranferrability

I also had another question about buying and transferring. They told us these are non transferable, if this is really the case then why would anyone want to buy a used one? I'd like to maybe invest in a few more and just give the weeks back to throw into the rental pool. Is this being done with any success?

 

[yumdrey]

check all the papers you got today and read "how to rescind it".
If you didn't get any rescind instruction paper, do more research on TUG.
Never ask any question or express your rescind inquiry to sales person, they will make you feel more confident about purchasing the week you already signed.

Check TUG market place or redweek.com.
There are MANY resale weeks and those prices are just asking prices, and many owners are willing to negotiate the price in this market, especially for Mexican TS.

Glad that you found this website within rescind period (5 or 7 days from sign the contract, I believe?).

Also, if you didn't get every detail in writing, it's all LIES.
Even if you complain about it later, you have no proof about it.
They scammed you.
Get out of the contract asap.
If you really like the resort, research resale market.

 

[yumdrey]

BTW, many sales reps don't include "how to rescind the contract" sheet on your folder on purpose.
I believe it is the law to include it, at least in USA.

 

[Timeshare Von]

The "we'll rent your weeks for you" is a big fat scam/lie. Rescind ASAP!

 

[tschwa2]

You were told that you were "guaranteed" a return in from turning over weeks to the rental pool but is that in the contract? You signed something saying the full agreement is in the written contract and anything stated orally is not binding. In most cases the sales person uses the rental angle to show how it is a good investment. Mexican timeshares never rent through the resort for more than the MF and in most case do not rent at all. In most cases they will later refer you to a 3rd party agent to rent your weeks who will charge you $399-$599 for a one time processing fee and then never rent the weeks. The resort rents out their unsold inventory, not inventory from owners.

 

[hypnotiq]

Rescind immediately. You can get the same thing resale on eBay for pennies on the dollar.

I bought my 2br/2ba on eBay for $1 and no closing costs @ pueblo bonito sunset beach

 

[Passepartout]

Rescind exactly as the instructions in your contract say. You can find hundreds of resales for pennies on the dollar. DO NOT go back to 'talk to the people'. They will lie and tell you anything to delay you from rescinding until after the rescission deadline. You will bay thousands for something you can own for a few hundred- closing costs included.

Best wishes. We love Mexico and PB's are beautiful resorts, but the sales staff lie!

ADDED- Of course the ownerships and benefits are transferable. You can buy exactly the same membership resale for pennies on the dollar. NO ONE EVER MADE MONEY TURNING WEEKS OVER TO THE DEVELOPER TO RENT!!! If there was money and demand, why do you think they are selling them to you and not renting the weeks themselves???

Jim Ricks

 

[chickenfoot]

Rescind Now!! You only have 5 calendar days

Here is the link for rescinding a timeshare purchase in Mexico.

http://tugbbs.com/forums/showthread.php?t=61829&highlight=rescind

You can find PBSB timeshares for sale on Ebay for $1 all through out the year. Currently four are listed. As you will note in the Ebay ad's there is about a $300 transfer fee when you buy resale.

I stayed at this timeshare recently and rented a week from an owner for less than their maintenance fees. You will NOT be able to make money on it in a "rental pool" as they likely promised you.

 

[Beefnot]

Now that you understand that your timeshare is worth all of zero, there is absolutely no reason for you to stay in this contract, no matter what you are told. Do not follow any rescind instructions verbally told to you, only those you see in writing.

You will likely have greater satisfaction purchasing your first TS resale. After learning how to use and exchange it, as well as spending a lot of time on TUG, you will have a much better understanding of how to maximize your vacation experiences than 95% of TS owners. Also, you may be happier buying stateside rather than in Mexico, unless you are certain that you will be going there every year for the rest of your life, or that you will be able to exchange for satisfactory vacations in other locations as desired.

 

[Karen G]

I echo all the rescission advice in the posts above. Get out while you still can. RESCIND IMMEDIATELY. The promises of guaranteed rentals are bogus.

 

[Rent_Share]

Rescind Now

 

[Patri]

Please get out now. Don't talk to the salespeople. Follow whatever directions were posted above. Thank your lucky stars you had the brains to review what you purchased and asked questions here. Very few rescind in time and are stuck with something that was not what the salesman promised.