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Just Purchase My First Time Share

M

mushpounder

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Joined
Feb 14, 2011
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Location
COLORADO
We just purchased a one bedroom prime in Vistana Villages Orlando(St. Augustine). We bought for the main reason of trading the unit without ever using it as we have no desire to go to Orlando. We have a "float" week in Gold Plus season. I am starting to rethink this purchase since we don't actually ever want to stay at this location. Do you think this will be difficult to trade if I want to go to somewhere really nice like the St. Regis in Kauai or the Westin in Kauai? Thanks!
 
Did you purchase this resale or retail (direct from Starwood)?

If retail, it would not matter how it traded, you have paid TOO MUCH, so you should cancel.

If resale, you can get really nice places, but not the St. Regis which would only be available using starpoints. And resales are not eligible for starpoints. You might be able to get Westin Kaanapali Ocean Resort Villas, but not the hotel (again, starpoints required).

elaine
 
mushpounder said:
We just purchased a one bedroom prime in Vistana Villages Orlando(St. Augustine). We bought for the main reason of trading the unit without ever using it as we have no desire to go to Orlando. We have a "float" week in Gold Plus season. I am starting to rethink this purchase since we don't actually ever want to stay at this location. Do you think this will be difficult to trade if I want to go to somewhere really nice like the St. Regis in Kauai or the Westin in Kauai? Thanks!
Click to expand...

St. Regis is not a part of timeshare.
If you want to put an ongoing search with your unit, and if you want 2BR in westin Kauai, you need to own 2BR.
If you want something for exchange, there are other better options.
I hope you bought it resale, not from the developer.
 
If you bought from a developer- rescind immediately. You seriously overpaid!

If you bought resale, better, but still not ideal. Do not buy a timeshare to 'trade' or 'exchange' most of the time. Buy one you can/will use 1/2-2/3 of the years. Do not buy in an overbuilt area- Florida comes to mind- Orlando in particular. There are just too many to choose from in the rental pool. Also the potential for hurricane damage/high MFs is too great.

Best wishes. and Welcome to TUG!

Jim Ricks
 
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This TS is very unlikely to be able to exchange into Hawaii.
Click to expand...
I believe this is incorrect. This property still has starwood to starwood preference, and should be able to pull those units on bulk deposits.

that being said, obviously you now know if its retail rescind, and if its resale you could have done better. for example, you could have still bought SVV but in the mandatory phases and have staroptions with your resale, or bought at SDO or SBP for a better value trader through II.
 
Agree with Siesta. Any Starwood resort would have preference in II into other Starwoods, and it wouldn't be very difficult to get the Westin Princeville.

If you bought retail, you did overpay and need to buy resale for pennies on the dollar. Check ebay.
 
Ugh! I feel sick. We bought this at the Westin while we were at St. John last Wednesday. I don't really understand the whole thing. They said were were not trading weeks but points and we will havee 44,000 points to trade every year?
 
No question...rescind.

To answer the earlier post, you can get to Hawaii using an Orlando week, but it's not the easiest reservation and you need to put time into watching for the availability here on TUG (with a paid membership for access to the members only section). I was just at WKORV in Maui using a Starwood Orlando week (which cost me $1 on eBay plus associated fees) - I use those Orlando weeks exclusively for trading, but it's much more difficult than using StarOptions.
 
mushpounder said:
Ugh! I feel sick. We bought this at the Westin while we were at St. John last Wednesday. I don't really understand the whole thing. They said were were not trading weeks but points and we will havee 44,000 points to trade every year?
Click to expand...

Unfortunately, 44k won't get you much at all, not even a studio in Maui. Find your documents and rescind today. Do not wait.
 
mushpounder said:
Ugh! I feel sick. We bought this at the Westin while we were at St. John last Wednesday. I don't really understand the whole thing. They said were were not trading weeks but points and we will havee 44,000 points to trade every year?
Click to expand...
you have a lot to learn, and once you rescind you will have all the time in the world to see what works for you. rescind immediately, you only have so much time.

If you haven't already noticed, what you bought for $15k+ is currently selling for less than $100 on ebay. don't waste any time!
 
Thank you, thank you, thank you! Yes, I will write a letter cancelling this agreement. It says I have 10 days from receipt of the paperwork. Any ideas as to exactly what I should say in the wording of this letter? Or shall I just put that I want to cancel effective immediately?
 
Follow the rescission instructions EXACTLY as is outlined in your paperwork. Send the paperwork return receipt through the post office, so you get the signature card back from the post office. It's very important you have proof they received the letter. Just say you cancel the purchase.
 
You don't have to make it fancy. Just that you wish to rescind this purchase according to the agreement on page (x) of their contract. Follow the instructions exactly. If they say fax it, do that. If they say mail it, do that with receipt signature requested. If they say courier (FedEx), same deal- get the recipient's date/time/signature.

When you get this done, step back, take a deep breath and c'mon back. We'll show you how to spend a small percentage of what they wanted and get you some really wonderful, usable vacations.

Welcome to TUG! Jim Ricks
 
mushpounder said:
Thank you, thank you, thank you! Yes, I will write a letter cancelling this agreement. It says I have 10 days from receipt of the paperwork. Any ideas as to exactly what I should say in the wording of this letter? Or shall I just put that I want to cancel effective immediately?
Click to expand...

Here is the Starwood rescinding FAQ, that includes a sample letter.
 
SVV, St. Augustine, 2BR platinum season couldn't be sold for $1 on ebay. So seller offered free closing and free 2011 use in the end and it was sold.

Glad that you would rescind!
 
Hi Denise, I read the FAQ document. I do not have any paper that says "Notice of Mutual Right of Cancellation of Time Share Purchase." There is a paragraph on one of the last pages that says you may cancel the purchase agreement within 10 calendar days after the date you sign. But it does not have a specific form that I am to use. Am I missing that piece of paper? Thank YOU!
 
I rescinded a developer purchase from Starwood. I did not have a specific form, I just wrote a letter and mailed it to the address specified in my packet by certified mail, return receipt requested.

To Starwood's credit, I had the downpayment credited to my account within 3 days of their receipt of the letter.

My instructions said that if I kept all of the package, that I would be charged $100. i did not send back the package and expected that the refund would be $100 less than the down payment, but it was the full amount. I would not count on it though.

elaine
 
Lucky for you to have found TUG. Immediately, contact the sales office in STJ and inform them you will rescind - ask for the paperwork to do so, and their fax number. Tell them it was not in the package - Follow the instructions, of course, but inform them by fax as well. The recission letter is to the SVO offices in Orlando FLA. They will not try and screw you on rescinding and will refund deposits immediately (as glypnirgirl states) - but will try and talk you out of it.

We recinded WKORVN by fax alone - to the sales office in Kauai - where we purchased. But you should follow standard process as described.
 
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Dave - he bought at SVV, not WSJ... ;)

I do not believe you need a specific form to rescind - just write the letter.

As I stated in the FAQ, I would not call the sales office - they will NOT be helpful! They will:

1) Try to talk you out of it
2) Give you a sob story
3) Try to delay you
4) Give you another hard sell
 
DeniseM said:
Dave - he bought at SVV, not WSJ... ;)
Click to expand...


They bought SVV while at WSJ... my point was to contact the sales office where purchased (WSJ) - and rescind (by fax or else-wise) as well as the standard process - letter to office at SVO headquarters.

If they re-talk him into retaining his purchase (after finding TUG) - then let Darwinism take its course - someone has to keep this house of cards afloat...
for those humor impaired - that was a joke...

of course - I have a work colleague whose husband decided that he knew best (even after a lecture before and after they went to WLR - and link to SVO TUG) and kept their contract at WLR - they love their purchase (and are enjoying their vacations...) - and I never again mentioned to them that they paid 80% too much (~$20K) - all for the benefit of converting their SOs to SPs. They represent the King of Hearts (suicide king - the one with a knife it its head) in the house of cards. :)
 
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I appreciate all of your advice. I still would like to purchase a timeshare but next time I will do all of my homework first. I feel VERY fortunate to have found TUG!
 
mushpounder said:
I appreciate all of your advice. I still would like to purchase a timeshare but next time I will do all of my homework first. I feel VERY fortunate to have found TUG!
Click to expand...

Good luck to you - there are bargains galore in the TS world - and they all depend on your individual vacation needs. 1st decide if TSing is for you and your family for years to come. For example - key questions: can you plan your vacations well ahead of time? do you want flexibility? how much effort do you want to spend dealing with vacation planning? and of course - can you afford the total costs of vacationing (not just the TS cost)?
 
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Nice! It's always great to hear of someone who found TUG in time. Now you get to relax, research and determine exactly what fits your travel pattern best, and then save a bundle on the resale market.
 
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