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Just Bought at Massanutten, Should I Rescind? (April 2019)

Should we rescind while we have the chance

  • Run!!!

    Votes: 14 100.0%

  • Nah, you're good

    Votes: 0 0.0%
  • Total voters
    14
  • Poll closed .
C

Christine B

newbie
Joined
Apr 22, 2019
Messages
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My boyfriend and I found that we are very bad at saying no when we went to a timeshare presentation. We ended up buying a week at Massanutten Resort in VA for $9,900 with $372 maintenance fees plus one RCI bonus week, two gold cards, and the usual flat rate exchanges to other resorts around the world. While the promise of regular vacations and cheaper lodging over our lifetime (in the long run since we're both 30) is great, I'm pretty certain that we paid too much and wanted some advice. We have until Friday to run.
 
VacationForever said:
Run. You can pick up the same timeshare on the resale market for free.
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Run!!! Rescind!!! Resale!!!! I just checked EBay, $1 or $.01 for purchase, follow rescind directions and mail out certified mail, then check out Tugg, Redweek, EBay resales.
 
Christine B said:
My boyfriend and I found that we are very bad at saying no when we went to a timeshare presentation. We ended up buying a week at Massanutten Resort in VA for $9,900 with $372 maintenance fees plus one RCI bonus week, two gold cards, and the usual flat rate exchanges to other resorts around the world. While the promise of regular vacations and cheaper lodging over our lifetime (in the long run since we're both 30) is great, I'm pretty certain that we paid too much and wanted some advice. We have until Friday to run.
Click to expand...

I am sure everyone would say run... but the maintenance fee seems reasonable, but if its real then sure you can get same for basely free .. what resort/size unit? for intense a friend of mine is giving away a nice RCI points unit,and he has already paid for next years fee (so a free year on top)
 
Timeshare is a wonderful creation that allows us to go lots of places we would not have ordinarily, but minimizing the purchase price makes it even sweeter! Rescind and read those ads Brian pointed to above.
 
Christine B said:
My boyfriend and I found that we are very bad at saying no when we went to a timeshare presentation. We ended up buying a week at Massanutten Resort in VA for $9,900 with $372 maintenance fees plus one RCI bonus week, two gold cards, and the usual flat rate exchanges to other resorts around the world. While the promise of regular vacations and cheaper lodging over our lifetime (in the long run since we're both 30) is great, I'm pretty certain that we paid too much and wanted some advice. We have until Friday to run.
Click to expand...
What specifically did you buy? A converted points week at Woodstone or Regal Vista or a biennial or triennial at one of the other HOA's. What week is associated with your deed. At $10,000 and $372 in MF you didnt buy anything with very much trading power. It is a worthless week. The gold cards and the bonus weeks don't come with resale purchases but they aren't worth $10,000. Realistically they might be worth $200-$700 per year depending on if you take advantage of day use at Massanutten often or not.
 
grats on making a decision you wont regret and saving a fortune!
 
You made the right decision! A timeshare is a bad financial decision if you get it wrong. Best plan is to rent before you buy and do a LOT of research before you buy!
 
Christine B said:
My boyfriend and I found that we are very bad at saying no when we went to a timeshare presentation. We ended up buying a week at Massanutten Resort in VA for $9,900 with $372 maintenance fees plus one RCI bonus week, two gold cards, and the usual flat rate exchanges to other resorts around the world. While the promise of regular vacations and cheaper lodging over our lifetime (in the long run since we're both 30) is great, I'm pretty certain that we paid too much and wanted some advice. We have until Friday to run.
Click to expand...

Gee...I've been trying to give away my triennial Massanutten timeshare for free, including legal fees!
 
I love Massanutten so watch ebay. A few years ago they went for about 2000 for a 4 bedroom summit 1 to 52. They slowly went to free about a year ago. Since the institution of their resort fees it typically takes an incentive even to get rid of one unless it is a prime Regal Vista unit. Typically a free years use. Do you really want to buy something for 10 grand that is worth less than 0.
 
Jmstokes said:
Hi was it an easy process?
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Rescission is a fairly easy process. You don't have much time.

"Virginia law states that you may cancel a timeshare contract until midnight of the seventh calendar day after signing the contract. If the seventh calendar day falls on a Sunday or a legal holiday, then the right to cancel the contract expires on the day immediately following that Sunday or legal holiday."

If you are within that period, you need to write a letter stating that you want to rescind. You should include the first and final signature page from the contract. If two people signed to buy, both must sign to rescind. You will want to send it someway that verifies the date you send out the letter (certified- you do not have to require a signature). The address should be on the contract. You will want to keep copies of everything you send. They will want you to send back the other materials but you don't have to send that back certified. You can reference in the main letter that you are sending that back separately.
 
Christine B said:
My boyfriend and I found that we are very bad at saying no when we went to a timeshare presentation. We ended up buying a week at Massanutten Resort in VA for $9,900 with $372 maintenance fees plus one RCI bonus week, two gold cards, and the usual flat rate exchanges to other resorts around the world. While the promise of regular vacations and cheaper lodging over our lifetime (in the long run since we're both 30) is great, I'm pretty certain that we paid too much and wanted some advice. We have until Friday to run.
Click to expand...
Jmstokes said:
Hi was it an easy process?
Click to expand...
Did you buy one?
 
Jmstokes said:
Hi was it an easy process?
Click to expand...

We hope your rescission and deposit refund were successful. To track how much TS owners saved on TUG, mind sharing how much you saved with rescission? As half of tuggers initially bought developer/retail TS, there is no shaming
 
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