Just bought @ Ocean Tower, Waikoloa Village, thinking of rescinding

[WaikikiFirst]

now do you understand why?

Most def a LOL! 3 reasons why that sales pitch has zero credibility
3. not only do salesppl lie, but that isn't even really a potential lie. It is a statement of intent, not of fact. Lie? In 20 yrs of daily hard-core involvement with tech stocks & tech firms & their customers, I know of a few tech "category winners" that in the crucial early to mid-life days won due to having the best salesforce, with "best" being usually defined as "Willing to lie & FUD their butts off about anything or any competitor to makes a sale". And their customers knew it, but fell for it. Best product define the winner in every tech category? LMAO.
2. there is always another promo, always another end-of-month, EO-Qtr, EO-FY. Always has been, always will be til the big light goes out.
1. It is not a "great deal". The #s make NO SENSE when buying from the developers. I (or you) can look at it multiple ways, do a great calculaton or a guesstimate calc. They make no sense. Great deal? Mind-boggling. In my TS presentation they didn't use that line. Had they done so, I would have ROFL. Literally.

 

[WaikikiFirst]

these folks have the ability to openly lie with no recourse

I just copy/pasted this from the website of a builder of new homes
"SALES OF RESIDENTIAL CONDOMINIUM UNITS: ORAL REPRESENTATIONS CANNOT BE RELIED UPON AS CORRECTLY STATING THE REPRESENTATIONS OF SELLER. FOR CORRECT REPRESENTATIONS, REFERENCE SHOULD BE MADE TO THIS BROCHURE AND TO THE DOCUMENTS REQUIRED BY SECTION 44-3-111 OF THE ‘GEORGIA CONDOMINIUM ACT’ TO BE FURNISHED BY THE SELLER TO A BUYER."
That is state law in GA & probably in most states.

 

[HuskerATL]

I just copy/pasted this from the website of a builder of new homes
"SALES OF RESIDENTIAL CONDOMINIUM UNITS: ORAL REPRESENTATIONS CANNOT BE RELIED UPON AS CORRECTLY STATING THE REPRESENTATIONS OF SELLER. FOR CORRECT REPRESENTATIONS, REFERENCE SHOULD BE MADE TO THIS BROCHURE AND TO THE DOCUMENTS REQUIRED BY SECTION 44-3-111 OF THE ‘GEORGIA CONDOMINIUM ACT’ TO BE FURNISHED BY THE SELLER TO A BUYER."
That is state law in GA & probably in most states.

There is also this:
A "license to lie" clause, also known as a "non-reliance" or "salesman's license to lie" clause, is a provision in timeshare contracts that protects real estate agents from legal consequences for making false claims or leaving out important details during a sales presentation. The clause states that the purchaser cannot rely on any oral statements made by the agent during the sales presentation, as long as they are not included in the written contract. This gives salespeople almost unlimited freedom to say or not say anything they want during the presentation.

 

[Chris-ATX]

There is also this:
A "license to lie" clause, also known as a "non-reliance" or "salesman's license to lie" clause, is a provision in timeshare contracts that protects real estate agents from legal consequences for making false claims or leaving out important details during a sales presentation. The clause states that the purchaser cannot rely on any oral statements made by the agent during the sales presentation, as long as they are not included in the written contract. This gives salespeople almost unlimited freedom to say or not say anything they want during the presentation.

Yep.

Ask them to put it in writing to include in the contract... see what happens then.

 

[yodaDaenerys]

Yep.

Ask them to put it in writing to include in the contract... see what happens then.

they generally won't even let you take pictures of the quick off the cuff drawings they do to show you how this is the "DEAL OF A LIFETIME". they certainly won't let you walk out with it. just goes to show that none of it is reliable.

 

[HuskerATL]

they generally won't even let you take pictures of the quick off the cuff drawings they do to show you how this is the "DEAL OF A LIFETIME". they certainly won't let you walk out with it. just goes to show that none of it is reliable.

Some have taken pictures and shared but the sale's person probably didn't know.

 

[bartpennington]

Congrats on rescinding! I was in your shoes 45 days ago. Luckily I found this GREAT group of folks, then rescinded. Now gleaning as much knowledge as possible before buying a resale. I agree that you must figure out how to play the GAME and see how it can become addictive!

 

[rc51]

they generally won't even let you take pictures of the quick off the cuff drawings they do to show you how this is the "DEAL OF A LIFETIME". they certainly won't let you walk out with it. just goes to show that none of it is reliable.

That's funny, I've only had two sales presentations, and both time with the same guy. Not only did I get the scribble sheets, but he took a picture of them, too. I actually didn't mind him. He never seemed like he lied to me.

 

[gamewarden44]

After reading through a ton of posts on tugbbs, I feel like I am one of those suckers born every minute.

We travel a fair amount (15-25 nights/year) and HVG made some sense when we were presented last week at Ocean Tower on The Big Island and we bought. After doing now what I should have done before (research) I feel like we should rescind and buy on the reseller market. Here are our details:

Ocean Tower
Studio
Platinum Season
5,440 points/year starting in 2024
11,200 bonus points (some carried over from the stay we were redeeming)
$1,092.80 annual maintenance fee
+ $299 annual HGV Max Club Dues
= $1,391.80 total annual MF
$24,295 purchase price (and this was discounted about $10k because we were rolled back to 2023 prices and the $1600-ish we spent on the week at Ocean Tower was credited)

If we rescind we'll lose the bonus points and I believe the Max Club options. Would we also lose access to "Open Season" reservations?

I like the idea of those bonus points but it seems that they're difficult or impossible to combine with regular points to make one single reservation and it appears that with money we'd save on the resell market those bonus points can be made up very quickly.

I've pretty much talked myself into rescinding but I'd love to hear any opposing opinions or additional advice. Is there even one single reason to not rescind?

We liked the property and will likely return but may avoid Ocean Tower. It's a far walk to the car and the self-parking is $48/night when there are two other properties with free parking. But it seems like buying in Vegas may be a better option. While we usually don't enjoy Vegas that much the MF is lower and getting a place in Waikoloa Village doesn't seem too difficult at the 9-month mark, based on comments I've seen on tugbbs.

I wish we got immediate access to the system so we could play around with options before our 7-day right-of-recision expires. We also like the idea of Europe but one video we watched didn't show that many properties in the system for Europe, but that was a couple of years ago. Maybe that's changed.

Okay... light me up for how stupid of a decision this was. I can take it.

Ouch. Like any bad marriage the divorce (rescind) will be worth whatever fees they charge you. By comparison I am in the process of closing on a 13440 point platinum at Kohala for $2K.

 

[yodaDaenerys]

That's funny, I've only had two sales presentations, and both time with the same guy. Not only did I get the scribble sheets, but he took a picture of them, too. I actually didn't mind him. He never seemed like he lied to me.

sounds like you got a good one. i liked our guy in NYC, went back to him specifically when we wanted out of what he sold us, lol

 

[Harry]

OT is a great property if you enjoy walking and don’t mind paying exorbitant parking fees. Based on your traveling desires the above advice to rescind is probably beneficial. We own there resale and no regrets even with parking and walking.

 

[Sandy VDH]

Most of us here have a TS addiction, and TUG Forums is just our AA meeting space. LOL

But buying resale instead of retail, and get the same product is a game changer. Live, learn, and make good decisions.

My one rule of thumb for a timeshare is never finance it. If you can't pay for the purchase outright, you have no business buying it. MFs are already enough, who want to pay for a mortgage on top of that. So resale in the only way to afford that option, or throw away stupid amounts of cash wastefully.