In May of this year we signed a contract direct with Marriott Vacation Club Int. (Didn't know about TUG at the time) for the Marriott Horizons of Orlando.
We paid $2000 as a down payment. What we purchased is based on a FUTURE INVENTORY that was to be built in January/Feb 2009. So our FINAL Payment (we will being using the Marriott Visa Card ) will be due when the new Inventory or (Building) will be completed.
We have not paid Maintenance of any kind yet.
We have not reserved of any kind (since we don't officially own anything)
Question:
1) Can we walk away ..and take the $2000. loss ? and be done ?
2) What is the worst that could happen here if we refuse to pay the final payment ? Since we do not have ownership or a deed.
3) I am not sure of the Status of the NEW Building at the Horizons. I would have to assume that it would be delayed in this market? Would that be a pretense to walk and break the contract ?
I would love to hear about possible options here!
Thank You.
============================================================
UPDATE
After reading some of the feedback here ..... I spoke to the Horizons Supervisor in Orlando.
I was PLEASANTLY SURPRISED ..... I can Walk away from this !...the loss would be my "deposit" of $2000.
QUESTION:
Should I take the lose on this ? Knowing that I can buy in (in the resale Market) in the near future at a much LOWER Cost ?!
From what I am reading...there is much inventory available, and the loss of $2000. (although is painful) I would end up a head of the game if I purchased the available resale market)
GREAT WEB SITE ...Thanks Everyone !!
==============================================
UPDATE II
Thank you for everyone's ideas.....
Here's additional info that we discovered so you can call this "subject to fraud or other wrongdoing"
My Wife and I are professionals and are very detailed oriented. We make sure there is no stone unturned.
We specifically asked the differences between Gold and Platinum and what weeks were available to us for Splits/lockoffs at the Horizons. We specifically asked about Thanksgiving Week. We were assured
that we had ALL weeks of the year except Christmas. We were told that this package contained "Gold & Platinum" As long as we stayed at our Home Base and made our reservation early enough that
our "Horizons" home would not be an issue. We liked that idea since we needed flexibility and we liked the future idea as our son got older. Our "Vacation Ownership- Guide" actually has the words written by the sales guy and drawn in and with an arrow that points to all of the weeks. We both thought that it sounded wonderful and that they were expanding the Horizons (Future Status) to accommodate this special category.
Now I found out that it was misrepresented to us ..That Platinum is defined as January1-April 26/May 28th-Aug 23rd/Dec17th-Dec20th. Thanksgiving is not included and that we would have to use Interval ($99+) and go on the waiting list like the others. The only priority is that Platinum "might" have greater priority than a Gold???
PS - For Informational Purposes the Horizons Supervisor just made an offer to switch us to a "Every-Other-Year" deal ..for less cost and still utilizing the $2000. Deposit. (Gee...that was NEVER mentioned in May) We asked about all of our options....It was very clear....Gold /Plat/Plat+ EVERY YEAR were the ONLY OPTIONS.
We paid $2000 as a down payment. What we purchased is based on a FUTURE INVENTORY that was to be built in January/Feb 2009. So our FINAL Payment (we will being using the Marriott Visa Card ) will be due when the new Inventory or (Building) will be completed.
We have not paid Maintenance of any kind yet.
We have not reserved of any kind (since we don't officially own anything)
Question:
1) Can we walk away ..and take the $2000. loss ? and be done ?
2) What is the worst that could happen here if we refuse to pay the final payment ? Since we do not have ownership or a deed.
3) I am not sure of the Status of the NEW Building at the Horizons. I would have to assume that it would be delayed in this market? Would that be a pretense to walk and break the contract ?
I would love to hear about possible options here!
Thank You.
============================================================
UPDATE
After reading some of the feedback here ..... I spoke to the Horizons Supervisor in Orlando.
I was PLEASANTLY SURPRISED ..... I can Walk away from this !...the loss would be my "deposit" of $2000.
QUESTION:
Should I take the lose on this ? Knowing that I can buy in (in the resale Market) in the near future at a much LOWER Cost ?!
From what I am reading...there is much inventory available, and the loss of $2000. (although is painful) I would end up a head of the game if I purchased the available resale market)
GREAT WEB SITE ...Thanks Everyone !!
==============================================
UPDATE II
Thank you for everyone's ideas.....
Here's additional info that we discovered so you can call this "subject to fraud or other wrongdoing"
My Wife and I are professionals and are very detailed oriented. We make sure there is no stone unturned.
We specifically asked the differences between Gold and Platinum and what weeks were available to us for Splits/lockoffs at the Horizons. We specifically asked about Thanksgiving Week. We were assured
that we had ALL weeks of the year except Christmas. We were told that this package contained "Gold & Platinum" As long as we stayed at our Home Base and made our reservation early enough that
our "Horizons" home would not be an issue. We liked that idea since we needed flexibility and we liked the future idea as our son got older. Our "Vacation Ownership- Guide" actually has the words written by the sales guy and drawn in and with an arrow that points to all of the weeks. We both thought that it sounded wonderful and that they were expanding the Horizons (Future Status) to accommodate this special category.
Now I found out that it was misrepresented to us ..That Platinum is defined as January1-April 26/May 28th-Aug 23rd/Dec17th-Dec20th. Thanksgiving is not included and that we would have to use Interval ($99+) and go on the waiting list like the others. The only priority is that Platinum "might" have greater priority than a Gold???
PS - For Informational Purposes the Horizons Supervisor just made an offer to switch us to a "Every-Other-Year" deal ..for less cost and still utilizing the $2000. Deposit. (Gee...that was NEVER mentioned in May) We asked about all of our options....It was very clear....Gold /Plat/Plat+ EVERY YEAR were the ONLY OPTIONS.
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