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Just got ripped off buying Hilton Grand Vacations!!

rohnin

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Help!! I went to a HGV presentation last weekend (3 days ago) in Las Vegas and stupidly bought a 5000 point per year package at SeaWorld FL for $25,000 + $997/yr maintenance!! Then I searched and realized it's not worth anything near that, nor is it really an investment like they claimed. I haven't had time to open the package or read the contract, but is there anyway I can get out of this?? Is there a grace period, can I negotiate something with them?? Thanks for any advice
 

Passepartout

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You have a 5 day rescission period. The information is in the packet of stuff you signed. You'll have to look up the address, but a simple letter, I/We wish to cancel contract # xxx-xxx dated_______2012, signed (whoever signed the original), oughtta do it. Send it by the means specified in the contract.

Time's wasting. Don't delay or you'll own it with no way out.

Good luck.

Jim
 
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TUGBrian

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I haven't had time to open the package or read the contract,
for 25,000 dollars, id make time
 

jbiza

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[ for 25,000 dollars, id make time]

+1

... & then perhaps take some time here on TUG to get invaluable information so you will be better informed on the front end next time :) .
 

ronparise

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get to work...Nevada is a 5 day rescission period
 

AwayWeGo

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[triennial - points]
Rescinda-Sinda-Sinda.

Get out of it while you can.

Nothing that the timeshare companies sell at full freight is worth the money.

And that goes for HGVC Sea World right along with all the rest.

Buy timeshares resale. Save thousands of dollars on exactly the same thing, or the equivalent, or something even better.

-- Alan Cole, McLean (Fairfax County), Virginia, USA.​
 

Tia

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Make sure to mail out rescission letter the exact method the contract specifies too.
 

rickandcindy23

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You are so lucky to discover you paid too much. Brian is right, and time is wasting, and you will regret not rescinding--NO doubt about it. Open the packet of paperwork and follow the directions for rescission exactly. Send a simple letter saying you do not want this, and make sure you send it to the correct address and request a return receipt. The postmark is very important.

Hilton is fairly expensive on the resale market, in my opinion, but you can save about 70% by rescinding and buying it that way. I personally wouldn't go that way. If I could start all over with nothing and buy something I can use internally and exchange externally with tons of trading power, I would buy WorldMark points, and I would buy them from one of the big sellers on eBay.

Good luck.
 

MOXJO7282

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Help!! I went to a HGV presentation last weekend (3 days ago) in Las Vegas and stupidly bought a 5000 point per year package at SeaWorld FL for $25,000 + $997/yr maintenance!! Then I searched and realized it's not worth anything near that, nor is it really an investment like they claimed. I haven't had time to open the package or read the contract, but is there anyway I can get out of this?? Is there a grace period, can I negotiate something with them?? Thanks for any advice

Its amazing some don't know about the recession period. It should be a law that sales agents must clearly inform the customer of the recession period instead of it being hidden in the fine print.
 

timeos2

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You appear to be in the very last period of easy out - just open those docs & find the process to rescind and DO IT NOW!!!! Don't wait another minute - you have over $25k at risk and a VERY easy way to prevent a horrible mistake.

Be sensible & rescind now, take a little time to absorb a small amount of timeshare schooling here at TUG and then wisely go forth with at least a minimal understanding of the pluses and pitfalls of timeshare and take advantage of the many pluses to get low cost, wonderful vacations in great accommodations for less than most hotel stays. But it starts by undoing a bad choice - made under bad circumstances - to buy a retail timeshare. Those are always overpriced & a bad deal. But you arrived in time to avoid that easily. Rescind now & then enjoy a great new opportunity for vacationing.

Be very glad you found us in time.
 

ronparise

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Its amazing some don't know about the recession period. It should be a law that sales agents must clearly inform the customer of the recession period instead of it being hidden in the fine print.
The Wyndham contract I signed (and then rescinded) had the notice in bold print directly above the signature block...Not fine print and not hidden at all...
 

theo

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"Notify in writing" is variously interpreted...

<snip> It should be a law that sales agents must clearly inform the customer of the recession period instead of it being hidden in the fine print.
I don't disagree, but the law in all 50 states (...only the rescission time period itself differs among the states, from as few as 3 to as many as 15 days) only requires that that the buyer be notified in writing of their legal right to rescind the developer sales contract within that particular states' time period. That apparently legally suffices for "informing" the unwary buyer. By the same token, it does not seem unreasonable to me that an intelligent buyer should actually read a contract they sign involving tens of thousands of dollars...

However, developers still differ quite widely in their particular interpretation of "notification in writing".
Some do indeed make it smaller microfont print somewhere toward the end of the sales contract, others provide it on a separate document sometimes conveniently "forgotten". Westgate, for a truly extreme example, has previously attempted to bury their cancellation rights "notification and instructions" on a separate CD provided at time of contract execution (i.e., not readily available as a hard copy document, unless and until retrieved and printed out from the CD). For all I know, Westgate may still be doing that, even today --- it wouldn't surprise me a bit.
 

Talent312

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It surprises me how quickly folks will sign over their life savings or at least a significant chuck of it on a TS impulse buy. In an age when folks research a can opener or lawn mower to the n'th degree before pulling the trigger, why aren't more peep as reticent to whip out their CC or checkbook for a TS?

That said, I hope the OP is successful in rescinding.
He should know that aside from the sales division, many HGVC find the
the system consumer-friendly and will say that it's worth a resale buy.
 

Passepartout

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OP might not have had time to even come back here for the advice he asked for. Shame to be that busy. Gotta slow down to smell those roses.

As I've become fond of saying, people will go on vacation, hunt down a tailor, obsess over style, cut, material of a suit of clothes they might save a couple hundred bucks on. Yet will willingly plunk down 10's of thousand$ on a timeshare that will cost them more 10s of thousand$ to own then walk away from because they haven't learned how to use it and felt ripped off.

Jim
 

marty77

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It surprises me how quickly folks will sign over their life savings or at least a significant chuck of it on a TS impulse buy. In an age when folks research a can opener or lawn mower to the n'th degree before pulling the trigger, why aren't more peep as reticent to whip out their CC or checkbook for a TS?

That said, I hope the OP is successful in rescinding.
He should know that aside from the sales division, many HGVC find the
the system consumer-friendly and will say that it's worth a resale buy.
I agree. Not to be rude, I'm just perplexed - you have what you need to do right in front of you, and you haven't read it. Instead, you turned on the computer, went to a web site, and asked other people what to do and are waiting for an answer. You need to be taking action!! All legitimate paperwork packets spell it out CLEARLY. No one else can do this for you !!
 

theo

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You're not being rude at all, you're merely stating the truth...

I agree. Not to be rude, I'm just perplexed - you have what you need to do right in front of you, and you haven't read it. Instead, you turned on the computer, went to a web site, and asked other people what to do and are waiting for an answer. You need to be taking action!! All legitimate paperwork packets spell it out CLEARLY. No one else can do this for you !!
Very well said and entirely true --- but beware of armchair critics and self-appointed "evaluators" here who will lamely attempt to label you as a "master of the obvious", offering nothing of any substance themselves but nonetheless boosting their post count by criticizing your well intentiond and truthful input... :rolleyes:
 

ejenkins

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duped in georgia also by hgvc

sorry to here about this but welcome to the club,my wife and i just got ripped off in may at hgvc in myrtle beach,sc for $ 25,000.00.we were given the same pitch it was an investment.we were told we had 5 days to recend when in fact we had 7 days as we were from georgia.they did not explain that to us at all.hope you get it recended in time.we have retained an attorney to try and get out of this mess.
 

RX8

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sorry to here about this but welcome to the club,my wife and i just got ripped off in may at hgvc in myrtle beach,sc for $ 25,000.00.we were given the same pitch it was an investment.we were told we had 5 days to recend when in fact we had 7 days as we were from georgia.they did not explain that to us at all.hope you get it recended in time.we have retained an attorney to try and get out of this mess.
Sorry to hear. Did you purchase your timeshare while in South Carolina? If so you would unfortunately only have five days to rescind because the rescission period is based on which state you make the purchase, not the state in which you live.

Just curious, if they told you at the time of your purchase that you had five days to rescind why didn't you rescind?
 
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rickandcindy23

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Many of us have purchased a timeshare from the retailer/ developer. I can pretty much guarantee you will love Hilton, if it's past your rescission time. People buy retail all of the time and never look back. It's not like you bought something non-existent. The timeshare salespeople always like to say it's an invesment, when in fact it's only an investment in possibly making you go on a vacation.

I have a friend who bought HGVC at the Hilton on I-Drive, even though I told them not to buy. They got a card in the mail for a discounted stay at the resort and $200 cash to go on the tour. They loved it and bought. I couldn't believe it. :rolleyes: I tried to talk her into rescinding, and she said she loved everything about it and wouldn't change her mind. She still loves it.

I know someone else who bought Shell Points the same way. You can lead a horse to water, but you cannot make him drink.
 

richardm

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Cancellation period is based on the location of the resort..

sorry to here about this but welcome to the club,my wife and i just got ripped off in may at hgvc in myrtle beach,sc for $ 25,000.00.we were given the same pitch it was an investment.we were told we had 5 days to recend when in fact we had 7 days as we were from georgia.they did not explain that to us at all.hope you get it recended in time.we have retained an attorney to try and get out of this mess.
The cancellation period is based on the physical location of the resort being sold, not the state of residence of the buyer.

It's always very important to read the entire purchase agreement and pay attention to what specific resort location you are buying, or if it is even a real estate based purchase at all. There are numerous programs where the points being sold may not have an underlying deeded interest.
 

BigRedOne

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I am amused that us TUGers think that buying a timeshare from a developer is a rip-off. The fact is buying from a developer still has value. Just imagine that if no one ever bought from a developer there would be no bargains to be had on TUG, eBay, or anywhere else. Now don’t get me wrong, I would never buy another timeshare from a developer but I have had mine for about 25 years and it definitely has had value. What I would be more concerned about, whether purchasing from a developer or third party is the maintenance fees. I have seen some really exorbitant fees and this really is a value destroyer.
 

Passepartout

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I am amused that us TUGers think that buying a timeshare from a developer is a rip-off. The fact is buying from a developer still has value.
What you say is true. These are intelligent people who saw value in the presentation. However, if you re-read each account above, you'll see that they were marketed as 'investment.' We all know that that is fantasy. It's for that reason that I suggest that the buyers rescind.

I have recognized for years that if not for developer sales, there would be no resales. I also feel that for better or worse, ROFR puts a 'floor' under resale prices and keeps even more quality TS brands from slipping into the $1 price bucket.

Jim
 

AwayWeGo

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Sure, That May Have Been True Once. But No Longer.

Just imagine that if no one ever bought from a developer there would be no bargains to be had on TUG, eBay, or anywhere else.
That's all changed.

If no timeshare company ever built another timeshare unit anywhere starting right now, there would still be plenty of already completed timeshare units & then some to meet all foreseeable resale demand from TUG & eBay & Craig's List & I don't know what all.

There were some TUG-BBS discussion topics within the past couple of years launched by people trying (a) to show how units bought from timeshare companies could & should be better than resales & (b) to figure some way of seeing to it that resale buyers would always be 2d class citz. in comparison with full freight owners. I don't think anybody got convinced.

-- Alan Cole, McLean (Fairfax County), Virginia, USA.​
 
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