Is there ever a time when you shouldn't rescind?

[T_R_Oglodyte]

The question in the OP is "Is there ever a time when you shouldn't rescind?"

The answer to that is only when you have thoroughly investigated the situation and determined that there are features that are only available to you in a direct purchase, that you have identified the most cost effective way of obtaining those benefits from the developer, and the value of obtaining those benefits is worth the price to obtain those benefits.

The most common way that situation arises is when an owner wants to join ownerships they have purchased resale to a developer operated mini-system. In those situations it might make sense to a particular owner to make a minimal purchase from the developer for the added benefit of bringing their resale purchases into the developer system.

And if you have no idea what I just said, then you are definitely in a situation where you should rescind any developer purchase.

 

[Callrich]

I rescinded

What should I do? Today we Just went to Orlando's sales pitch, hook line and sinker! 5000 points gold, 13,000 bonus. Hate to say it ouch 24k, yearly maintance is 1050. Closing costs were 600. We really like the program and want to buy this package. Please help!

I rescinded this morning in person where I made the 24k mistake less than 3 days before. The manager tried to tell me that HGVC has 1st right of refusal, trying to say if I win a bid on a HGVC on EBay they would refuse the sale and buy it out from underneath me, I am sure this is possible, but does it happen?

 

[presley]

I rescinded this morning in person where I made the 24k mistake less than 3 days before. The manager tried to tell me that HGVC has 1st right of refusal, trying to say if I win a bid on a HGVC on EBay they would refuse the sale and buy it out from underneath me, I am sure this is possible, but does it happen?

Yes, it happens. However, most sellers know the ceiling and will open bids at high enough level. Also, all the resellers who have their own websites (non ebay) deal with this every day. They will coach you on what to pay.

EDIT TO ADD: I bought an EOY HGVC Sea world off of Ebay, 5,000 points for $2400. Hilton had the opportunity to buy it under me, but they didn't.

 

[SmithOp]

I rescinded this morning in person where I made the 24k mistake less than 3 days before. The manager tried to tell me that HGVC has 1st right of refusal, trying to say if I win a bid on a HGVC on EBay they would refuse the sale and buy it out from underneath me, I am sure this is possible, but does it happen?

Just keep repeating to yourself " if a TS salesmans lips are moving, he's lying. ". They will say whatever it takes to make a sale.

 

[lbjen]

I rescinded this morning in person where I made the 24k mistake less than 3 days before. The manager tried to tell me that HGVC has 1st right of refusal, trying to say if I win a bid on a HGVC on EBay they would refuse the sale and buy it out from underneath me, I am sure this is possible, but does it happen?

You should still follow the required steps in the paperwork to rescind, which more than likely means sending a letter by certified mail USPS along with all the club info they gave you. I think HGVC is one of the more reputable TS companies out there but you should still make sure you have covered yourself contractually.