HGVC Rescission Letter Sent - Awaiting Response

[CavTheDwarf]

Hello TUGBBS!

First of all, I wanted to thank this website and these forums for existing. You greatly helped me and my fiancée make a better decision than the one we made in our sales meeting last week! As most, we got the 4 Day / 3 Night offer from Hilton months back and planned a trip to Orlando. We went in saying "no matter what, we're saying no" and then walked out almost six hours later after signing a contract. The thing that really sold us were the cash rates and the RCI vacation offers ($379 for a week stay!?) but once we got back to our room and I started researching more, I got sick to my stomach almost immediately and found a way to get ourselves out!

That's where you all came in and thank you again! Our rescission letter went out on Saturday and the USPS proof of delivery with signature confirmation was received Monday. Now we wait for further correspondence. To give you some more info, we had signed for a biennial point bank of 5,760 with bonus points and a total purchase price just under $20K with HOA fees of around $1600. We are so happy to be in the stages of getting out of it but will be doing some more research over the coming months to look at resale properties.

Happy to answer any questions! Unlike other forum posts, I plan on posting updates so that other people in our situation can know how it resolves (most of the other posts I found did not have a follow-up from the OP).

 

[bizaro86]

Congrats! I would say it's not likely that you'll get a written response, but they will cancel the contract and refund the deposit to your card.

 

[dayooper]

Hello TUGBBS!

First of all, I wanted to thank this website and these forums for existing. You greatly helped me and my fiancée make a better decision than the one we made in our sales meeting last week! As most, we got the 4 Day / 3 Night offer from Hilton months back and planned a trip to Orlando. We went in saying "no matter what, we're saying no" and then walked out almost six hours later after signing a contract. The thing that really sold us were the cash rates and the RCI vacation offers ($379 for a week stay!?) but once we got back to our room and I started researching more, I got sick to my stomach almost immediately and found a way to get ourselves out!

That's where you all came in and thank you again! Our rescission letter went out on Saturday and the USPS proof of delivery with signature confirmation was received Monday. Now we wait for further correspondence. To give you some more info, we had signed for a biennial point bank of 5,760 with bonus points and a total purchase price just under $20K with HOA fees of around $1600. We are so happy to be in the stages of getting out of it but will be doing some more research over the coming months to look at resale properties.

Happy to answer any questions! Unlike other forum posts, I plan on posting updates so that other people in our situation can know how it resolves (most of the other posts I found did not have a follow-up from the OP).

Congrats! You saved a bunch of money. That 6 hours, though. That’s a long time.

 

[CavTheDwarf]

Congrats! You saved a bunch of money. That 6 hours, though. That’s a long time.

It really was. We still had a very nice afternoon and evening together, but damn. We were there a while. The people were nice too! Just doing their jobs… but… damn.

 

[chapjim]

The only indication of success will be a transaction to your credit card (assuming that's how you paid the down payment). Not to worry -- it will happen but give it forty-five days before you start to get uneasy.

When it comes to statutory requirements, timeshare companies comply.

 

[CavTheDwarf]

The next indication of success will be a transaction to your credit card (assuming that's how you paid the down payment). Not to worry -- it will happen but give it forty-five days before you start to get uneasy.

When it comes to statutory requirements, timeshare companies comply.

We had paid in full on two separate new cards we had opened. I work for a credit union and the rate they offered for financing was hysterical. We’re both keeping an eye out on the cards regardless. Thank you!

 

[elaine]

HGVC is a good program. Do your research and find a resale that fits your needs. We have been very happy with HGVC.

 

[dayooper]

It really was. We still had a very nice afternoon and evening together, but damn. We were there a while. The people were nice too! Just doing their jobs… but… damn.

They were nice because they thought they could reel you in. If you ever do another presentation (I refuse to do any), set a timer and only be there as long as you have to. I believe the required time is 1:30, but I’m not sure. I know it’s not 6 hours.

HGVC is a great program and the non sales employees are usually fantastic. We have enjoyed every vacation we have been on with our points. Resale is the way to go.

 

[GT75]

Congratulations.

 

[HuskerATL]

They will refund you so that is probably a great relief for you. Look through the stickies on this group for MFs, resort info, etc. That can help you make a decision down the road. Also, feel free to ping this group if you are looking at something and folks will give you their honest opinion.

 

[CavTheDwarf]

As an update, we just received an email from the sales manager that the letter has been received and forwarded to the proper department. They claim we should expect the refunds to our cards within 20 days. Progress!

 

[chapjim]

As an update, we just received an email from the sales manager that the letter has been received and forwarded to the proper department. They claim we should expect the refunds to our cards within 20 days. Progress!

Wow! Some sales managers would run it through the shredder if they had a chance.

 

[1Kflyerguy]

They were nice because they thought they could reel you in. If you ever do another presentation (I refuse to do any), set a timer and only be there as long as you have to. I believe the required time is 1:30, but I’m not sure. I know it’s not 6 hours.

It was probably six hours because they purchased. There is an amazing amount of paperwork to prepare for a purchase transaction and that can take a while, if your at a big sales office you might end up in a que waiting for everything process. When you purchase resale its only a few pages, but for some reason a developer purchase is more like buying a house.. you get a giant stack of paperwork to prepare and sign-off on.

 

[alwysonvac]

Welcome to TUG

 

[GT75]

As an update, we just received an email from the sales manager that the letter has been received and forwarded to the proper department. They claim we should expect the refunds to our cards within 20 days. Progress!

That must be something new for HGVC. I like it.

 

[CavTheDwarf]

It was probably six hours because they purchased. There is an amazing amount of paperwork to prepare for a purchase transaction and that can take a while, if your at a big sales office you might end up in a que waiting for everything process. When you purchase resale its only a few pages, but for some reason a developer purchase is more like buying a house.. you get a giant stack of paperwork to prepare and sign-off on.

Most definitely. Most of it was was just waiting to hear back from the other floor and then we proceeded to sign a large packet of papers.

 

[amycurl]

HGVC is, by all regards, the most resale-friendly of all of the major branded timeshare systems. Everything you liked about HGVC--the deals for cheap RCI weeks last-minute at "leftover" locations/times, and I'm pretty sure the bonus time cash rates, too (someone who actually owns HGVC will correct me if I'm wrong here,)--are available to resale owners as well. So read up, figure out the minimum number of points that will work for you (in my research, it looks like 7K old/11K new points is a good sweet spot,) and decide if you need reservation priority somewhere (like HHI in summer) or if you just go for the best MF/point ratio (which is, by all accounts, Flamingo and Blvd. in Vegas.) Good luck and congratulations!

 

[GT75]

I agree with @amycurl. The only thing which resale owners don’t get is elite status (but you would really need about 54K points to make it worth much) and HGV Max (also not worth it because you will only get the leftover units in HGV/DRI resorts. I also believe 11,200 pts is an ideal starting number to shoot for In a first resale purchase. If you find out later that you need more points, then you can purchase another deed.

 

[Wingo99]

Congratulations!!!!! I love these stories so much!

 

[Talent312]

Statutorily, HGVC is not required to acknowledge receipt or processing.
So it is surprising that they sent you an email about it.

As indicated, Sales Offices have _nothing_ to do with rescissions.
We've read about one sales office that denied ever getting a letter.
They likely chucked it as it wasn't mailed to the address in the contract.

I suggest you review your contract to make sure your notice conforms.
,

 

[CavTheDwarf]

Statutorily, HGVC is not required to acknowledge receipt or processing.
So it is surprising that they sent you an email about it.

As indicated, Sales Offices have _nothing_ to do with rescissions.
We've read about one sales office that denied ever getting a letter.
They likely chucked it as it wasn't mailed to the address in the contract.

I suggest you review your contract to make sure your notice conforms.
,

I should probably clarify that it was the “quality assurance manager” whom we signed paperwork with that emailed us. Went to a different floor for to sign with him last week. The letter was sent specifically to:

“Hilton Grand Vacations
Attn: Contract Services - Rescission”

As was specified in our contract. I think we’re okay!

 

[pedro47]

Sound liked Wastegate.

 

[Talent312]

Sound liked Wastegate.

HGVC, aside from the sales weasels, is a stand-up company.
They will do the right thing -- the polar opposite of Wastegate,

But don't deal with the sales weasels, and for this, you don't need to.

 

[Drea.83]

Hello TUGBBS!

First of all, I wanted to thank this website and these forums for existing. You greatly helped me and my fiancée make a better decision than the one we made in our sales meeting last week! As most, we got the 4 Day / 3 Night offer from Hilton months back and planned a trip to Orlando. We went in saying "no matter what, we're saying no" and then walked out almost six hours later after signing a contract. The thing that really sold us were the cash rates and the RCI vacation offers ($379 for a week stay!?) but once we got back to our room and I started researching more, I got sick to my stomach almost immediately and found a way to get ourselves out!

That's where you all came in and thank you again! Our rescission letter went out on Saturday and the USPS proof of delivery with signature confirmation was received Monday. Now we wait for further correspondence. To give you some more info, we had signed for a biennial point bank of 5,760 with bonus points and a total purchase price just under $20K with HOA fees of around $1600. We are so happy to be in the stages of getting out of it but will be doing some more research over the coming months to look at resale properties.

Happy to answer any questions! Unlike other forum posts, I plan on posting updates so that other people in our situation can know how it resolves (most of the other posts I found did not have a follow-up from the OP

I can't tell you how jealous I am. I so wish I would have been older, wiser, less naïve when I sat down at my first sales meeting.

Congratulations!

 

[Passepartout]

I can't tell you how jealous I am. I so wish I would have been older, wiser, less naïve when I sat down at my first sales meeting.

Congratulations!

You don't have to be 'older, wiser, less naive, to find TUG and make yourself an educated consumer.