I felt uneasy right after signing

[snagytx]

Hello,

Like many on this forum my wife and I went to a timeshare presentation. The sales person was really nice, she presented the resort and everything they can offer, we asked our questions, I think everything was presented and answered truthfully by the agent, BUT I think the answers were provided to the letter of the question, not the spirit of the question. We went to a presentation at HYS, when we asked "Will we be able to use our points to book in Maui?", we were told "Sure", but didn't expand to really provide the full picture and add "but you will have to plan long before, most of the units are 2 bedrooms, you have to get on a wait list". They didn't push too much, but we thought that it was a good idea to get into a timeshare. We went a few times back and forth and we ended up with: 1100 yearly points for a bit less than $24k, 50% down payment and 50% with a one year loan at 0% APR and 3k bonus points.

I had something about getting stuck with timeshares and it harder to get rid of them, but my information was "old" and I thought that with the points system it's better. Hence I had a little hesitation. After we left from there I immediately started thinking about what we did and thinking that it was a bad idea, but still tried to get more information.

Luckily during my research I found this forum and all the posts about "rescind now ask questions later". My vacation was 4 nights and the presentation was half way through the stay. We signed on 7/29 and on 8/1 I was home at my computer to do more research. Immediately I discussed with my wife about it and we agreed to rescind and ask for the down payment. We out put together a letter to the developer, with the contract #, our names and signatures. We sent it by email and UPS with tracking and signature, maybe the best spent $60. I have proof from UPS that they received it on 8/2 before 10AM.

We are currently in the wait state, we have not heard anything from them, even though we requested acknowledgment that they received the email. Hopefully this goes through and they cancel the contract.

I'm sorry if I wasted somebody's time to read this, just wanted to share my experience and be appreciative to the forum for all the advice. We don't want to get out of the timesharing but we need to first find what network fits best our needs.

 

[rickandcindy23]

I loved reading your thought process, and congratulations on rescinding the purchase.

If you love Maui and want to stay in Maui, what we did, and what I recommend to all friends and family, we looked into resale weeks on Maui, and we very specifically chose Westin Ka'anapali for our owned resort. We wanted oceanfront, and we wanted a 2 bedroom lockoff.

I considered purchasing Hyatt because I love the resort, the area, and the pool is fantastic. But when it came right down to it, I decided that a lockoff unit would be better for using in two different ways. I knew if I wanted to rent the small one bedroom side, I would get enough to pay the maintenance fees for the entire two bedroom lockoff. I also decided that we could always stay in the one bedroom premium the first week, and the small one bedroom a second week.

So far, it's worked out very nicely for us. We rented both studios in 2023, February weeks, and we did get enough to pay the full maintenance fees for the entire 2 bedroom unit (so we stayed FREE). We own two weeks, so we did this X 2.

I also already rented the March weeks I reserved for next year.

We are so happy with our ownership and have been considering additional weeks. Just FYI.

Now the commercial: we bought through Syed Sarmad at advantagevacation.com He has an office on Maui at The Cannery Mall in Lahaina, but we bought through emails. He knew the theshold for the ROFR process.

At the price you paid, and the # of points you bought, I think that wouldn't get many nights at the Hyatt on Maui. And we did pay more than that for each of our Westin weeks, but we bought oceanfront, and we bought resale, so I can only imagine what we would pay developer.

 

[snagytx]

Thank you @rickandcindy23. We will definitely consider Westin Ka'anapali . I just hope that the developer will NOT find a loophole and not honor the rescinding request. I'm in Texas and they need to get the letter in 0-5 days, the email was sent in day 4 and the UPS letter was delivered on day 5.

 

[TheTimeTraveler]

Hello,

Like many on this forum my wife and I went to a timeshare presentation. The sales person was really nice, she presented the resort and everything they can offer, we asked our questions, I think everything was presented and answered truthfully by the agent, BUT I think the answers were provided to the letter of the question, not the spirit of the question. We went to a presentation at HYS, when we asked "Will we be able to use our points to book in Maui?", we were told "Sure", but didn't expand to really provide the full picture and add "but you will have to plan long before, most of the units are 2 bedrooms, you have to get on a wait list". They didn't push too much, but we thought that it was a good idea to get into a timeshare. We went a few times back and forth and we ended up with: 1100 yearly points for a bit less than $24k, 50% down payment and 50% with a one year loan at 0% APR and 3k bonus points.

I had something about getting stuck with timeshares and it harder to get rid of them, but my information was "old" and I thought that with the points system it's better. Hence I had a little hesitation. After we left from there I immediately started thinking about what we did and thinking that it was a bad idea, but still tried to get more information.

Luckily during my research I found this forum and all the posts about "rescind now ask questions later". My vacation was 4 nights and the presentation was half way through the stay. We signed on 7/29 and on 8/1 I was home at my computer to do more research. Immediately I discussed with my wife about it and we agreed to rescind and ask for the down payment. We out put together a letter to the developer, with the contract #, our names and signatures. We sent it by email and UPS with tracking and signature, maybe the best spent $60. I have proof from UPS that they received it on 8/2 before 10AM.

We are currently in the wait state, we have not heard anything from them, even though we requested acknowledgment that they received the email. Hopefully this goes through and they cancel the contract.

I'm sorry if I wasted somebody's time to read this, just wanted to share my experience and be appreciative to the forum for all the advice. We don't want to get out of the timesharing but we need to first find what network fits best our needs.

They have no obligation to acknowledge you the receipt of your rescission request, but they do have to act on it by law.

Sit tight and allow up to 45 days to receive a refund of your down payment.

Good move to rescind. Think resale instead next time around.






.

 

[dioxide45]

They will honor it, but the UPS was overkill. USPS mail is just fine and legally recognised by all state rescission laws. You can add certified with tracking for peace of mind. Postmark date is what counts and postmarks are done by the USPS, not UPS. But they will honor the email date and/or the date sent via UPS.

 

[snagytx]

They will honor it, but the UPS was overkill. USPS mail is just fine and legally recognised by all state rescission laws. You can add certified with tracking for peace of mind. Postmark date is what counts and postmarks are done by the USPS, not UPS. But they will honor the email date and/or the date sent via UPS.

Overkill or not I don't fully trust USPS especially with important stuff, even if certified and with tracking. I just want to rescind.

 

[simpsontruckdriver]

Ever since the last administration put in the uneducated postmaster, USPS has gone downhill. Sending by UPS or FedEx will get it there much quicker! For instance, I needed to get important legal documents from Orlando to Salt Lake City UT overnight. I paid for Express. It took 3 days! I watched as it sat at the Orlando mail hub (next to MCO) for 36 hours before it flew to SLC. Then, it sat in the SLC mail hub another 36 hours.

Back on the subject at hand, it doesn't matter what day they receive the rescission letter, it only matters when it was postmarked, or with UPS/FedEx, the date the carrier received the package.

TS

 

[ChicagoDave]

Hello,

Like many on this forum my wife and I went to a timeshare presentation. The sales person was really nice, she presented the resort and everything they can offer, we asked our questions, I think everything was presented and answered truthfully by the agent, BUT I think the answers were provided to the letter of the question, not the spirit of the question. We went to a presentation at HYS, when we asked "Will we be able to use our points to book in Maui?", we were told "Sure", but didn't expand to really provide the full picture and add "but you will have to plan long before, most of the units are 2 bedrooms, you have to get on a wait list". They didn't push too much, but we thought that it was a good idea to get into a timeshare. We went a few times back and forth and we ended up with: 1100 yearly points for a bit less than $24k, 50% down payment and 50% with a one year loan at 0% APR and 3k bonus points.

I had something about getting stuck with timeshares and it harder to get rid of them, but my information was "old" and I thought that with the points system it's better. Hence I had a little hesitation. After we left from there I immediately started thinking about what we did and thinking that it was a bad idea, but still tried to get more information.

Luckily during my research I found this forum and all the posts about "rescind now ask questions later". My vacation was 4 nights and the presentation was half way through the stay. We signed on 7/29 and on 8/1 I was home at my computer to do more research. Immediately I discussed with my wife about it and we agreed to rescind and ask for the down payment. We out put together a letter to the developer, with the contract #, our names and signatures. We sent it by email and UPS with tracking and signature, maybe the best spent $60. I have proof from UPS that they received it on 8/2 before 10AM.

We are currently in the wait state, we have not heard anything from them, even though we requested acknowledgment that they received the email. Hopefully this goes through and they cancel the contract.

I'm sorry if I wasted somebody's time to read this, just wanted to share my experience and be appreciative to the forum for all the advice. We don't want to get out of the timesharing but we need to first find what network fits best our needs.

Congratulations on finding this website and making a smart decision to rescind! I was in your exact same situation last September and also rescinded and then bought a few resale units for a fraction of the cost of the portfolio points. i was able to purchase 2 Hyatt Diamond resale weeks (4,400 points) for roughly $15,000. You likely won’t hear back from Hyatt (unless the salesperson tries to reach out to change your mind), but they will refund your money without any issues. Now you can restart the process and make a non-rushed decision.

 

[dioxide45]

If you actually bought Hyatt pure points (not a deeded week), I beleive those are deeded in Florida and there would have likely been an addendum to the contract providing a 10 day rescission period.

 

[TUGBrian]

grats on following your gut and rescinding in time to save a fortune!

 

[snagytx]

If you actually bought Hyatt pure points (not a deeded week), I beleive those are deeded in Florida and there would have likely been an addendum to the contract providing a 10 day rescission period.

You are correct, the "Hyatt Residence Club Portfolio HPC Vacation Ownership Plan Purchase and Sale Agreement" says 10 days, but because I'm in Texas the "Texas Resident Addendum to Purchase Contract" says "....you may, however cancel this contract without penalty or obligation before the 6th day after the day you sign...". Since the Addendum is more strict I would say that the addendum applies.

Honestly, I normally don't really read legalize, especially because English is not my first language, and legalize is very complex to me, but something made me read these documents even before I found the forum.

It's done, waiting for the refund and will know better if I go to another presentation.

 

[rickandcindy23]

I admire your ability for multiple languages. I am struggling to learn Italian for our trip next April. I have a couple of programs and it's a struggle for me. Thinking of taking a class at the local college.

 

[ScoopKona]

Overkill or not I don't fully trust USPS especially with important stuff, even if certified and with tracking. I just want to rescind.

I always recommend return receipt. It provides you with physical proof it arrived on time. It's only a couple bucks. Totally worth it when dealing with large sums and the potential of a very costly mistake.

To answer things you've mentioned:

1) Never go on another presentation. They aren't worth it. The time you spend listening to a salesperson is time you could have spent enjoying your vacation. And for what? Some tickets? A meal voucher? I think their incentives are insulting. You can learn everything you need to know about timeshares here. And then go shopping on the resale market.

2) The old, legacy version of Hyatt, where you own an actual deeded week, actually works well. Maui works well, too. People are paying enormous sums of money to buy a Maui week because it's one of the best timeshares on the planet. If you own one of the deeded weeks, it is possible to trade to Maui. But requires much planning ahead -- and 2200 points. People here have done it. (I have no first-hand experience because I live 80 miles away from that resort. I'm not interested in any Hawaiian vacations.)

3) You can go to the top of this forum, and the other name-brand hotel systems, and find a "how does it actually work" post. Read all of those. And then start asking questions.

 

[snagytx]

I always recommend return receipt. It provides you with physical proof it arrived on time. It's only a couple bucks. Totally worth it when dealing with large sums and the potential of a very costly mistake.

To answer things you've mentioned:

1) Never go on another presentation. They aren't worth it. The time you spend listening to a salesperson is time you could have spent enjoying your vacation. And for what? Some tickets? A meal voucher? I think their incentives are insulting. You can learn everything you need to know about timeshares here. And then go shopping on the resale market.

2) The old, legacy version of Hyatt, where you own an actual deeded week, actually works well. Maui works well, too. People are paying enormous sums of money to buy a Maui week because it's one of the best timeshares on the planet. If you own one of the deeded weeks, it is possible to trade to Maui. But requires much planning ahead -- and 2200 points. People here have done it. (I have no first-hand experience because I live 80 miles away from that resort. I'm not interested in any Hawaiian vacations.)

3) You can go to the top of this forum, and the other name-brand hotel systems, and find a "how does it actually work" post. Read all of those. And then start asking questions.

Thank you @ScoopKona - In a way I got the confirmation that they got the letter/email because the Sales person and the Manager called me, because they got a notification that I have questions.

 

[snagytx]

I think this deserves it's own post, not just a response. The Sales person and the Manager called me, because they got a notification that I have questions.

The Sales person was nice, she tried to convince me that resale market is not a good option, you can't trade in Hyatt network or II, you have fixed week, you are locked in the legacy timeshare, not the new one they sale post 2017 ... but she was not too pushy.

But the manager, it's another story. He was really pushy and tries to explain me the ROFR, and that HYATT can cancel the sale, Hyatt won't allow the brand to quality to be diminished, that they discuss the resale market in the presentation but it seems that dropped the ball on this one and that they will be give me an extra 2000 bonus points for wasting my time to clarify the resale market.

When I told him that the Deeded weeks can be converted to points and the points be traded in II, he started laughing at me. I admin I didn't do much research about what I loose if I buy resale on Hyatt network and that I might be wrong, but I want out, so I can do more research so that I can make a better educated decision.

 

[ScoopKona]

The Sales person was nice, she tried to convince me that resale market is not a good option, you can't trade in Hyatt network or II, you have fixed week, you are locked in the legacy timeshare, not the new one they sale post 2017 ... but she was not too pushy.

But the manager, it's another story. He was really pushy and tries to explain me the ROFR, and that HYATT can cancel the sale, Hyatt won't allow the brand to quality to be diminished, that they discuss the resale market in the presentation but it seems that dropped the ball on this one and that they will be give me an extra 2000 bonus points for wasting my time to clarify the resale market.

That is a lie. Your resale points trade just as well as anyone else's points. Most of the people who post here are resale owners. Or a mix of both. They bought from the developer and then later learned their lesson. Timeshare salespeople FEAR the resale market. They have no honest answer for it.

ROFR is a thing. But it's a minor thing. They only exercise it if a week is essentially being given away. Otherwise, you buy a resale week and you have all the same perks except one: the ability to turn your points into Hyatt hotel points, which was never a good deal in the first place.

 

[ChicagoDave]

I think this deserves it's own post, not just a response. The Sales person and the Manager called me, because they got a notification that I have questions.

The Sales person was nice, she tried to convince me that resale market is not a good option, you can't trade in Hyatt network or II, you have fixed week, you are locked in the legacy timeshare, not the new one they sale post 2017 ... but she was not too pushy.

But the manager, it's another story. He was really pushy and tries to explain me the ROFR, and that HYATT can cancel the sale, Hyatt won't allow the brand to quality to be diminished, that they discuss the resale market in the presentation but it seems that dropped the ball on this one and that they will be give me an extra 2000 bonus points for wasting my time to clarify the resale market.

When I told him that the Deeded weeks can be converted to points and the points be traded in II, he started laughing at me. I admin I didn't do much research about what I loose if I buy resale on Hyatt network and that I might be wrong, but I want out, so I can do more research so that I can make a better educated decision.

You don’t lose much at all with re-sale vs points. The main thing is you can’t convert into WOH points, but the conversion rate is poor, so you probably wouldn’t do it anyway. The pool of available inventory for using/trading is much smaller for points owners because most decent weeks/properties are owned by legacy deeded owners. You can find good deals with points, but no guarantee. If you can’t find a desirable trade in Hyatt or II, you at least have your deeded week to use or bank the points. Also, when you go to sell, points are virtually worthless ($1 - $3 per pt) whereas a gold, platinum or Diamond week typically holds its value. Join the Hyatt Residence Club Owners FB group and there’s some good discussions on the topic of points vs deeded week.