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Letter of Recission

tmoscola

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Anything in particular I need to mention in my letter to Marriott? I plan to put the certified letter in the mail tomorrow.
 

Lawlar

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Use plain simple english

They probably gave you a form to use for purposes of rescinding. Use the form. But it is not essential. You don't have to use any magical words. Anything in writing that lets them know you are rescinding or canceling the deal is legally sufficient.

It is prudent to obtain a record to prove that they received your notice. Send it by certified mail, return receipt requested. You can also send a fax copy which will create a 2nd record for you as well.

Why did you decide to rescind (there are plenty of good reasons to rescind)?

Don’t let the saleperson call you up and talk you out of the rescission.
 

tmoscola

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We thought we were getting a decent deal on a the Beachplace Towers. We weren't overly thrilled about the property but were hopeful it would get better once it gets renovated. Plus how bad of a trader could it be on the beach in sunny south FL?

After coming home we saw how low the prices really are for the property which would save us money and made us think maybe the property isn't as valuable as the salesperson made it seem.

Also, there are really mixed reviews of this property. Most of the things I have read are not that positive. We would prefer to buy at a better property that we know we would enjoy without having to trade every year for a little more money.
 

johnmfaeth

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Definitely rescind and buy resale if you love the resort. Some research here will show it needs some be rehab, something to consider.

Make sure you follow the delivery instructions contained on the rescindment instructions in your contract package.
 

vlapinta

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You are doing the right thing. Recind and gather all the information you can from these boards before making another decision.

Vicki
 

saturn28

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Make sure you include that you heard that Marriott is changing their internal trading system to make it impossible to get your investment back when you re-sell it. In fact, the minute you walk out the door the week is worth less than 40 percent of what you just paid for it. Tell them they should have disclosed to you what kind of price you would expect to get if you tried to re-sell the unit.

Tell them Marriott should price their weeks based on market forces instead of trying to screw their present owners in order to make more sales at there inflated prices. Include a line on how you have read many bad coments on how Marriott is actively trying to devalue their present owners weeks. And Marriott is making changes to their present system totally for the financial benefit of Marriott without consideration to how these changes will affect their present owners.
 
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calgal

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I would not add the language that Saturn recommended. I would not give your reasons for rescinding at all. Just a short and unequivocal rescinding notification.
 

Lawlar

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Many reasons not to buy a TS

I was recently thinking of buying a resale TS at Marriott's Timber Lodge. It was advertised for only $6,500, the maintenance fee was about $750 a year. The owner must have paid at least $15,000 or more. But I then realized that I could rent the same unit at Timber Lodge for less than the yearly maintenance fee.

You can stay in some very nice hotels, anytime you want, for a lot less money than you will spend on a TS.

Let's us know how it works out for you. Good luck.
 

dioxide45

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Tell them Marriott should price their weeks based on market forces instead of trying to screw their present owners in order to make more sales at there inflated prices.
If this were the case, we wouldn't have any timeshares. The additional cost above a resale price is marketing and profit for the company. If that is lost, then there wouldn't be anyone in the business. I don't see anything wrong with what Marriott is doing in their pricing of developer weeks.
 

johnmfaeth

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Saturn is probably 100% correct in his beliefs, however, a letter of recission is not the place to express them.

1) Keep it simple

2) Just say to the salesman that calls "I don't want it, good day". Anything else will be arming him to battle you. Better yet, let all calls ring through to the answering machine for a few days and don't call back. No obligation to do so.

To Saturn:

Marriott will not change it's ways while it is making record profits. This is a capitalistic organization. That's the ugly reality of this business. It's even worse when someone loses 80% the first week with a Wyndham, et al...

John
 
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