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I need help. I just purchased Regal Vistas at Massanutten and think I may have been misinformed

Misslady

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This was my first time at Massanutten and I love the resort. I thought I was offered a great deal and purchased week 46 for a 2 bedroom Regal Vista for $12,990.00 with yearly maintenance fee of $567. The purchase also included 1 bonus week with RCI worth 25,000 points and a gold card membership for owners. I was under the impression I was able to utilize my home week every year however, I’m looking over my contract and it states unit 217 Regal Biennial Regal Vistas at Massanutten. I was told week 46 was available every year and could exchange it for any other week except New Years if I didn’t want to come that week. I was Lao told week 46 was prime. I did not agree to pay a MF every year but can only visit every other year. I was so exhausted after the long day and wanted to get out of there so I didn’t notice this when I signed. Looking for advice on how to handle this. I am still at the resort and within 7 days. I just want to make sure I handle this correctly. Is this a good deal? IF not how to I get out of this and recover 100% of the $1200 I gave them?
 

tschwa2

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If you are paying $547 every year that means you have a 4BR EOY that has been put in their internal system so you get 2BR every year. 46 isn't particularly in demand- it isn't prime and you probably wouldn't have enough trading power for most of the summer weeks or weeks 51 or 52. If you were buying a prime EOY 4br from the developer the cost would be about 3 times what you paid.

Is it in rci points or weeks?

You should rescind. You wouldn't get the gold card but you could buy something similar for under $500 all in and you could get a better week resale for under $2000-$3000 or less if you keep looking and wait for the right deal to come along.
 

CPNY

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Regal Vista at Massanutten
This was my first time at Massanutten and I love the resort. I thought I was offered a great deal and purchased week 46 for a 2 bedroom Regal Vista for $12,990.00 with yearly maintenance fee of $567. The purchase also included 1 bonus week with RCI worth 25,000 points and a gold card membership for owners. I was under the impression I was able to utilize my home week every year however, I’m looking over my contract and it states unit 217 Regal Biennial Regal Vistas at Massanutten. I was told week 46 was available every year and could exchange it for any other week except New Years if I didn’t want to come that week. I was Lao told week 46 was prime. I did not agree to pay a MF every year but can only visit every other year. I was so exhausted after the long day and wanted to get out of there so I didn’t notice this when I signed. Looking for advice on how to handle this. I am still at the resort and within 7 days. I just want to make sure I handle this correctly. Is this a good deal? IF not how to I get out of this and recover 100% of the $1200 I gave them?
Rescind that purchase immediately. Follow the instructions in your contract to make sure you are rescinding correctly. Visiting the sales office may result in you still owning that unit.

I own a 2 bedroom regal vista. It is technically a 4 bedroom every other year. The way it is set up is, you own a 4 bedroom every other year that is internally exchanged and given as a two bedroom every year. So yes, you pay a maint fee every year and you can use the unit every year. Is it enrolled in points? You want one that is in the RCI points. But in the meantime, rescind that purchase immediately then buy resale.
 

bogey21

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I own a 2 bedroom regal vista. It is technically a 4 bedroom every other year. The way it is set up is, you own a 4 bedroom every other year that is internally exchanged and given as a two bedroom every year. So yes, you pay a maintenance fee every year and you can use the unit every year..
Interesting arrangement, so OP wasn't really lied to. Nonetheless OP should think the entire transaction through, presumably rescind and buy what she really wants for less money resale...

George
 

tschwa2

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Misslady

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If you are paying $547 every year that means you have a 4BR EOY that has been put in their internal system so you get 2BR every year. 46 isn't particularly in demand- it isn't prime and you probably wouldn't have enough trading power for most of the summer weeks or weeks 51 or 52. If you were buying a prime EOY 4br from the developer the cost would be about 3 times what you paid.

Is it in rci points or weeks?

You should rescind. You wouldn't get the gold card but you could buy something similar for under $500 all in and you could get a better week resale for under $2000-$3000 or less if you keep looking and wait for the right deal to come along.
OH! Okay I see what you’re saying. If I come every other year I would get both condos side by side and have access to the entire lockoff and all 4 bedrooms? But if I come every year I will only have one side which is 2 bedrooms? It’s RCI points. 26500 Biennial even and 26500 Biennial odd. I’m not sure how valuable the RCI portion is but they said I would not b entitled to the RCI bonus week if I buy resale. They told me I could swap my week 46 for any other week except New Years without any fee as long as I do so 12 months in advance.
 

tschwa2

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OH! Okay I see what you’re saying. If I come every other year I would get both condos side by side and have access to the entire lockoff and all 4 bedrooms? But if I come every year I will only have one side which is 2 bedrooms? It’s RCI points. 26500 Biennial even and 26500 Biennial odd. I’m not sure how valuable the RCI portion is but they said I would not b entitled to the RCI bonus week if I buy resale. They told me I could swap my week 46 for any other week except New Years without any fee as long as I do so 12 months in advance.
If you are only getting 26,500 points then it is by the old points chart and you could exchange for any week if you used 3+ years worth of points. What they told you and what is true isn't always the case. It takes 89,000 to stay in Regal vistas during high season. Like I said earlier, if you wanted a prime season that would have enough points to exchange into any other week, the cost would have been closer to $49,000 or even higher retail. They probably started with a much higher cost for a better week and then dropped the cost and said they have a week 46 and implied that it had the same trading power as the much higher one you were originally offered. At 26,500 points, it is worth less than $1 on resale. If you paid it off and wanted to sell it you would probably be out at least $1000-$2000 additional in order to sweeten the offering enough to get someone to take it for $1.

Rescind. today. Follow the instructions on the contract and mail it out along with a copy of the front page and final signature page. Make copies and send it out certified today.
 

Misslady

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Rescind right now and follow the instructions to the letter. IMHO.

Please Do it now.

Timeshare week 46, I believe is the week before Thanksgiving week.
Yes it is the week before Thanksgiving.
 

CPNY

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Yes it is the week before Thanksgiving.
Did you find the instructions on rescinding? Do not visit the sales office if you’re still there. They will lie to you to keep you from rescinding
 

Misslady

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Did you find the instructions on rescinding? Do not visit the sales office if you’re still there. They will lie to you to keep you from rescinding
I just finished reading everything twice and this is the only paragraph the mentions cancellation. It says I have seven calendar days to cancel and I can either hand deliver notice to developer which is over an hour away from here or send mail notice by certified United States mail. It doesn’t state what to send or include. Do I send the contract back requesting it to be cancelled or do I hand right a letter including my name and account number. I want to make sure it’s done correctly so there is no confusion and the mortgage company/bank doesn’t put a judgement against my credit. If you have any knowledge on how to do this please let me know. I appreciate your help.
 

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TUGBrian

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grats on saving 12k just by finding TUG!
 

Grammarhero

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I just finished reading everything twice and this is the only paragraph the mentions cancellation. It says I have seven calendar days to cancel and I can either hand deliver notice to developer which is over an hour away from here or send mail notice by certified United States mail. It doesn’t state what to send or include. Do I send the contract back requesting it to be cancelled or do I hand right a letter including my name and account number. I want to make sure it’s done correctly so there is no confusion and the mortgage company/bank doesn’t put a judgement against my credit. If you have any knowledge on how to do this please let me know. I appreciate your help.
Just write a letter with your account number and names saying you wish to cancel. Be sure whoever signed the TS contract also signs the cancellation letter. Send USPS certified, receipt return requested. Keep all paperwork.
 

Misslady

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Just write a letter with your account number and names saying you wish to cancel. Be sure whoever signed the TS contract also signs the cancellation letter. Send USPS certified, receipt return requested. Keep all paperwork.
Less complicated than I thought. I will do this first thing tomorrow. Thank you very much!
 

Grammarhero

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Less complicated than I thought. I will do this first thing tomorrow. Thank you very much!
The sample is below
Gentlemen:

Regarding contract "123" for purchase of a timeshare at "ABC" resort. We are exercising our legal right to cancel this contract. We expect a full refund of our deposit of "$123." Do not make any additional charges to my credit card. Please confirm my legal rescission in writing.

Sincerely,

John Husband
Jane Wife
 

pedro47

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I just pray that the Postal Service is better in your area,than the one in Suffolk, VA.
It took the United States Postal Services eleven (11) days to delivery us a certified letter. From downtown Suffolk to the Harborview area, in Suffolk,VA.,which is less than fifteen (15) miles. From point A to point B.
 

TheTimeTraveler

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I just pray that the Postal Service is better in your area,than the one in Suffolk, VA.
It took the United States Postal Services eleven (11) days to delivery us a certified letter. From downtown Suffolk to the Harborview area, in Suffolk,VA.,which is less than fifteen (15) miles. From point A to point B.

Doesn't matter how long it takes to be delivered. What is important here is the date it is actually POSTMARKED (i.e. date letter is actually sent).


.
 

Misslady

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The sample is below
Gentlemen:

Regarding contract "123" for purchase of a timeshare at "ABC" resort. We are exercising our legal right to cancel this contract. We expect a full refund of our deposit of "$123." Do not make any additional charges to my credit card. Please confirm my legal rescission in writing.

Sincerely,

John Husband
Jane Wife
This is PERFECT! I will be sending this as soon as the post office opens. Thank you very much and I appreciate your help.
 

westerman

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You are making a great decision. Before I knew about TUG many years ago, I purchased a red, but not prime red at Ocean Sands in Virginia Beach, VA from the developer for $10,000 for exchanging. Before the rescind period was up, I searched online, found TUG, and put out a similar query as you. I followed the rescind advice on here, followed the contract requirements to rescind to the letter, and am now, happily, fully in the timeshare resale market. I ended up purchasing a South Africa timeshare week for $100.00 that had similar trade power to the Ocean Sands week. The long term cost is the maintenance fee, and off-season weeks can be near impossible to get rid of, so I would also recommend that you purchase a resale week at a popular location in a high season.

If you do purchase a resale week at Massanutten, I would recommend that you find a resale week in the RCI points system with at least 100,000 points. That would be easier to resell later if you change your mind about Massanutten.

There are many, many timeshares for sale at very low prices compared to retail, and you have as much time as you want to decide on the purchase.
 

CPNY

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The rescind has been processed. The post office said they should have it by tomorrow. Thank you all for your help, valuable feedback, and most important, saving me $12,900.
Did you send it certified and save the proof of postmark?
 

Misslady

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Did you send it certified and save the proof of postmark?
Yes. The post office gave me a green and white receipt with a tracking number on it. I’m going to start tracking it tomorrow until it’s signed for.
 

pedro47

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Yes. The post office gave me a green and white receipt with a tracking number on it. I’m going to start tracking it tomorrow until it’s signed for.
Good luck with the Post Office.
The sample is below
Gentlemen:

Regarding contract "123" for purchase of a timeshare at "ABC" resort. We are exercising our legal right to cancel this contract. We expect a full refund of our deposit of "$123." Do not make any additional charges to my credit card. Please confirm my legal rescission in writing.

Sincerely,

John Husband
Jane Wife
Can you mail this package FedX and still be within the time frame?
 
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