HGVC Rescission

[Lodemia]

New to the forums. Is there a recommended recession letter? I feel kind of silly but we just signed ok thru HGV for a biennial TS -be at King’s Land for 20k, $1345 MF and 4800pts every even year. They gave use 15k bonus pts since we paid cash. We are still well within recession period.
I was all against it thinking it was worthless. Then I realized there are definitely some benefits. And honestly if we used it even if I could sell it for $1500 down the road and we got the use out of our points and saved a little or it got us to travel outside of where we maybe would have otherwise, then it would be worth it.
So I guess I’m going back and forth. I def overpaid since it’s retail based on what I’ve seen online. I was pretty firm that we weren’t going to sign b4 the trip because I was thinking old school timeshare and we like to travel to new places.
So … recommendations? Am I a fool not to cancel given the cost? Can i find something cheaper or similar through resale or in a few years? I bought on a whim because I figured to buy the same thing in a few years retail would be more expensive than today. I’m still well within recision. So could do either. What would you all recommend to a newbie like me? We like to travel and take at least 2x weeklong trips. Like the idea of being able to bring friends or ‘donate’ a stay to nonprofit groups I’m part of. Any recs from the more experienced?

Rescind, Relax, Research. Welcome to TUG.

 

[GT75]

So … recommendations?

Welcome to TUG!!!

I also recommend that you rescind immediately. You overpaid big time. Resale is much cheaper. I actually purchased one of those 14,400 pts 2BR premier KL annual resale several years ago for $15K. Some have purchased more recently for even less. You can even get better deals with fewer initial points by shopping around. But the first thing to do is rescind. After that is handled, then you will have plenty of time to investigate resale and ask questions. We have a great group of TUG members, all willing to help (and we are trying to sell you something) answer your questions.

 

[TheTimeTraveler]

New to the forums. Is there a recommended recession letter? I feel kind of silly but we just signed ok thru HGV for a biennial TS -be at King’s Land for 20k, $1345 MF and 4800pts every even year. They gave use 15k bonus pts since we paid cash. We are still well within recession period.
I was all against it thinking it was worthless. Then I realized there are definitely some benefits. And honestly if we used it even if I could sell it for $1500 down the road and we got the use out of our points and saved a little or it got us to travel outside of where we maybe would have otherwise, then it would be worth it.
So I guess I’m going back and forth. I def overpaid since it’s retail based on what I’ve seen online. I was pretty firm that we weren’t going to sign b4 the trip because I was thinking old school timeshare and we like to travel to new places.
So … recommendations? Am I a fool not to cancel given the cost? Can i find something cheaper or similar through resale or in a few years? I bought on a whim because I figured to buy the same thing in a few years retail would be more expensive than today. I’m still well within recision. So could do either. What would you all recommend to a newbie like me? We like to travel and take at least 2x weeklong trips. Like the idea of being able to bring friends or ‘donate’ a stay to nonprofit groups I’m part of. Any recs from the more experienced?

Simply tell them that you are exercising your Right of Rescission on Contract # _____ dated January ____, 2022 and would like to cancel with 100% refund.

Send it USPS Certified Mail and retain a postmarked copy of your mailing receipt.

GREAT MOVE to rescind as you can save yourself thousands of dollars buying resale. You work hard for your money so protect your assets!

Do give serious thought of spending $15 and become a member of TUG. It will be the best $15 you will ever spend!

Best of luck and welcome to TUG.



.

 

[dsmtrvlr]

Simply tell them that you are exercising your Right of Rescission on Contract # _____ dated January ____, 2022 and would like to cancel with 100% refund.

Send it USPS Certified Mail and retain a postmarked copy of your mailing receipt.

GREAT MOVE to rescind as you can save yourself thousands of dollars buying resale. You work hard for your money so protect your assets!

Do give serious thought of spending $15 and become a member of TUG. It will be the best $15 you will ever spend!

Best of luck and welcome to TUG.



.

H

Simply tell them that you are exercising your Right of Rescission on Contract # _____ dated January ____, 2022 and would like to cancel with 100% refund.

Send it USPS Certified Mail and retain a postmarked copy of your mailing receipt.

GREAT MOVE to rescind as you can save yourself thousands of dollars buying resale. You work hard for your money so protect your assets!

Do give serious thought of spending $15 and become a member of TUG. It will be the best $15 you will ever spend!

Best of luck and welcome to TUG.



.

how do I do that? And is there an app? I’m seriously considering a resale timeshare. And want to do more research for sure.

 

[dsmtrvlr]

I

Simply tell them that you are exercising your Right of Rescission on Contract # _____ dated January ____, 2022 and would like to cancel with 100% refund.

Send it USPS Certified Mail and retain a postmarked copy of your mailing receipt.

GREAT MOVE to rescind as you can save yourself thousands of dollars buying resale. You work hard for your money so protect your assets!

Do give serious thought of spending $15 and become a member of TUG. It will be the best $15 you will ever spend!

Best of luck and welcome to TUG.



.

just mailed it from the post office. Return receipt requested certified mail. The address on the contract said to fax, mail, deliver in person or via telegram ( is that even a thing still??). It’s going to seller c/o Hilton grand vacations Arb: contract services - recission -
1811 Ala Moana Boulevard, 33rd floor
Honolulu, HI 96815.

is there anywhere else I need to send? This is what was noted as the mailing address on the page of the purchase agreement regarding the right of recession. Wanting to cross my t’s and dot my i’s here.

anythjng else I should do?

 

[TheTimeTraveler]

Hopefully you had any purchaser (if any beside yourself) who signed the original contract also sign the rescission agreement before mailing it out..... Assuming you did then all you need to do is sit back and relax.

Hilton doesn't need to provide notification of receipt, but they do need to act on it by State law. It may take as long as 45 days for them to provide a refund (but it is usually faster).

Now take your time to study up on TUG and figure if you want to go the resale route (which will save you some big bucks).

Go celebrate your rescission.


.

 

[Gunfighter]

For now looking at FB groups and this forum. Any other resources to buy resale?
Thank you

Redweek has a good selection of HGVC resales, many from reputable resale brokers. Below is a list of timeshare broker websites to get an idea of pricing and available inventory.

sellingtimeshares.net
timesharebrokersales.com
timesharebrokersmls.com

 

[kbg21]

Redweek has a good selection of HGVC resales, many from reputable resale brokers. Below is a list of timeshare broker websites to get an idea of pricing and available inventory.

sellingtimeshares.net
timesharebrokersales.com
timesharebrokersmls.com

Thank you! Doing my share of research now. Once I get the refund from HGVC will decide on a suitable resale purchase.

 

[GT75]

Once I get the refund from HGVC will decide on a suitable resale purchase.

Taking your time and doing the research is my suggestion before you make another purchase. Resales will be around.

 

[kbg21]

Hello everyone,

I reached out to Jari Alvarez's office and was able to speak to his assistant. She acknowledged receiving my rescission letter and that my refund will be processed within 20days.
Once again thanks a ton to this forum for all the information.

Cheers!

 

[kbg21]

Hello everyone,

I reached out to Jari Alvarez's office and was able to speak to his assistant. She acknowledged receiving my rescission letter and that my refund will be processed within 20days.
Once again thanks a ton to this forum for all the information.

Cheers!

Update:
Received my refund today!

 

[dsmtrvlr]

Hopefully you had any purchaser (if any beside yourself) who signed the original contract also sign the rescission agreement before mailing it out..... Assuming you did then all you need to do is sit back and relax.

Hilton doesn't need to provide notification of receipt, but they do need to act on it by State law. It may take as long as 45 days for them to provide a refund (but it is usually faster).

Now take your time to study up on TUG and figure if you want to go the resale route (which will save you some big bucks).

Go celebrate your rescission.


.

Hi! We sent in the recession and it's been received per the tracking we had on it. The contract says within 15 days they have to cancel the contract and return the funds. I know we still have a few days, yet I'm getting nervous I guess that we haven't received the refund or heard anything. It sounds like that's typical though? I noticed they haven't charged anything else to my card. And they were going to do another charge a few days later so we would have officially put 20% down and then we were going to pay the rest by the end of Feb.

At what point should I reach out, or at what point do I know that it's done and rescinded officially other than receiving my refund (if that happens) -- like, if we were continuing with the purchase, would they have sent me any more information?

Thanks!
Ryan

 

[TheTimeTraveler]

Hi! We sent in the recession and it's been received per the tracking we had on it. The contract says within 15 days they have to cancel the contract and return the funds. I know we still have a few days, yet I'm getting nervous I guess that we haven't received the refund or heard anything. It sounds like that's typical though? I noticed they haven't charged anything else to my card. And they were going to do another charge a few days later so we would have officially put 20% down and then we were going to pay the rest by the end of Feb.

At what point should I reach out, or at what point do I know that it's done and rescinded officially other than receiving my refund (if that happens) -- like, if we were continuing with the purchase, would they have sent me any more information?

Thanks!
Ryan

Right now you have nothing to worry about. If you don't receive your refund by the end of February then that will be an issue.

You now know that they have your rescission and they won't risk violating State Rescission Law. They need not notify you of receipt of your rescission, but they do need to act on it so just be patient while they do their thing. As posted previously allow up to 45 days.

DO NOT reach out to them as they may try to cut another deal with you or delay your refund.

Meanwhile, think about investing $15 and become a member of TUG. It will be the best $15 you ever spend!




.

 

[GTLINZ]

Thank you! Doing my share of research now. Once I get the refund from HGVC will decide on a suitable resale purchase.

Congrats on getting your refund!

Most tuggers will suggest you buy Platinum season. The reason is the the MF (maint fee) is the same for a unit size (i.e. 2br) regardless of the season. So a 5000 point gold 2br package has the same MF as the 7000 point plat 2br package which has the same MF as a 3500 point silver 2br package (at the same resort). And some "plus" units have more points but are harder to find. So you can understand why gold units are not worth much resale, and silver is difficult to even give away. But even plat resale is far cheaper than buying from the developer (you lose elite privs which are not worth it to most of us).

There is a 4800 point 1br plat package that will have a smaller MF than a 2br gold package. 4800 points vs 5000 and a lower MF. You get the idea. Buy plat!

There are some excellent trusted resellers if you don't want to deal with ebay. Search this forum for that - and also look for the post that compares the best points vs MFs locations. Unless you are trying to gain a home resort advantage at a hard to get place (like Myrtle Beach in the summer or Hawaii) then points are points if going to easy to book locations.

 

[Grammarhero]

We checked the credit card we put the deposit on today and got a full refund. We didn’t get any other notification.

@Shaw We hope you are well and healthy. We also hope your rescission and deposit refund went well. Mind sharing how much you'd save with rescission? As half tuggers first bought retail/developer TS, there is no shaming.

 

[genzinstructor]

Hi all, do any of you have the email or phone number of Jari Alvarez or their assistant by any chance? I have been struggling to find it. I believe I sent out my recission letter in the appropriate timeframe but I have no idea how to confirm anything. Any help would be greatly appreciated.

 

[genzinstructor]

Hello everyone,

I reached out to Jari Alvarez's office and was able to speak to his assistant. She acknowledged receiving my rescission letter and that my refund will be processed within 20days.
Once again thanks a ton to this forum for all the information.

Cheers!

How did you reach out? Any tips or advice would be helpful. I cant find an email or phone number. I feel so lost.

 

[Redpotato]

Hello everyone,

I reached out to Jari Alvarez's office and was able to speak to his assistant. She acknowledged receiving my rescission letter and that my refund will be processed within 20days.
Once again thanks a ton to this forum for all the information.

Cheers!

Hi! Do you still have this information? I tried to fax my rescission letter today and the fax was an invalid number

 

[Talent312]

Even if the contract allows it (where the # is listed),
a fax is usually not sufficient to rescission clock.

Certified mail, return receipt, is the preferred method.
It's the postmark that shows if it was done in time,
and certified mail, return receipt, shows delivery.

 

[mdrobnak]

I just sent one via fax, 808-846-6843 and it went through fine. I got an email acknowledging receipt and asking for feedback from the "Quality Assurance" department.

-Matt