MARRIOTT VACATION CLUB doubts and rescind!

[Paully]

Hi,

Thank you for this active website, I'm hoping my wife and I can rest easy after sending out our cancellation letter.
We sat for a MARRIOTT VACATION CLUB presentation in Orlando on Feb 5th, had no intention of buying, but heard them out. Even though we love the locations / offerings, after 90 mins we were ready to get up and go. Salesman #2 came in and unfortunately, charming and schmoozing, got us to sign for 15K.

Thankfully we did the presentation the last day of vacation and did some research on the airplane and found this forum. Rescinding the contract and buying resale seems the way to go!

Just sent a copy of the contract with a nice cancellation letter via email and certified mail today.
Let's see how long it takes to get refunded.

Thanks TUG

 

[claraj]

Nice job and welcome to TUG!

 

[CPNY]

Hi,

Thank you for this active website, I'm hoping my wife and I can rest easy after sending out our cancellation letter.
We sat for a MARRIOTT VACATION CLUB presentation in Orlando on Feb 5th, had no intention of buying, but heard them out. Even though we love the locations / offerings, after 90 mins we were ready to get up and go. Salesman #2 came in and unfortunately, charming and schmoozing, got us to sign for 15K.

Thankfully we did the presentation the last day of vacation and did some research on the airplane and found this forum. Rescinding the contract and buying resale seems the way to go!

Just sent a copy of the contract with a nice cancellation letter via email and certified mail today.
Let's see how long it takes to get refunded.

Thanks TUG

Congrats! Did you buy Club Points or Sheraton Flex in Orlando? While you are extremely smart for rescinding and looking for Resale options, both products will have different resale restrictions. MVC Club Points resale are treated the same as a direct purchase since you pay MVC and Activation Fee; AKA a "Junk Fee" per point. Sheraton Flex resale can only be used in its Sheraton trust and cannot be converted to Star Options or Abound Club Points,

 

[jwalk03]

Good job! Now spend some time here learning about the different resale options and what may or may not work for your vacation style. Then make an informed buying decision if owning Marriott (or any other timeshare) is right for you! And if it is BUY RESALE!

 

[rickandcindy23]

Resale is the way to go. I would look into a deeded Marriott week with fees at or under $2,000 that is capable of locking off (so many of the resorts have that capability), and I would buy where you want to go some of the time.

Another option that is a bit more expensive, if you learned about/ were attracted to Staroptions, you could buy a Westin Kierland Villas Platinum 2 bedroom lockoff. The value of those SO's are very worthy of the annual maintenance fees. I would bet you can get one for about $17,000 with closing costs included.

All of that being said, I would never finance a timeshare, so if you don't have $17,000 in very liquid assets, don't buy anything until you can afford to pay cash. If you have $3-4K or even less, a platinum week at about any Marriott resort is certainly easy enough to find on Redweek or on TUG.

I would also never hesitate to buy something at Sheraton in Myrtle Beach or Sheraton Desert Oasis in Scottsdale, AZ. For Myrtle Beach, the best season for SBR (Sheraton) floats weeks 9-43 and 47.

 

[pedro47]

Welcome to TUG. Please read the Help and Advice section to better educate your knowledge about buying resale timeshares and about vacation using a timeshare.

 

[Beach57]

Definitely try to buy resale! Good luck.

 

[Paully]

Congrats! Did you buy Club Points or Sheraton Flex in Orlando? While you are extremely smart for rescinding and looking for Resale options, both products will have different resale restrictions. MVC Club Points resale are treated the same as a direct purchase since you pay MVC and Activation Fee; AKA a "Junk Fee" per point. Sheraton Flex resale can only be used in its Sheraton trust and cannot be converted to Star Options or Abound Club Points,

TBH, not really sure, that's part of the reason we cancelled, the points were 37,000 per year and converted to 1100 MVC points.
The contract says Sheraton Star Options or VOI, but also says MARRIOTT VACATION CLUB Point Election. Very confusing.

 

[byeloe]

Very good reason to rescind. With a little more research you will be ready t buy resale.
Check out the Vistana and Marriott sub forums. All your questions can be answered there.

 

[dioxide45]

TBH, not really sure, that's part of the reason we cancelled, the points were 37,000 per year and converted to 1100 MVC points.
The contract says Sheraton Star Options or VOI, but also says MARRIOTT VACATION CLUB Point Election. Very confusing.

It sounds like you were buying Sheraton Flex.

 

[sponger76]

TBH, not really sure, that's part of the reason we cancelled, the points were 37,000 per year and converted to 1100 MVC points.
The contract says Sheraton Star Options or VOI, but also says MARRIOTT VACATION CLUB Point Election. Very confusing.

It's technically Sheraton Flex ownership. It's just that when you buy them retail you have the ability each year to elect to exchange the Sheraton for Marriott points.

 

[GTLINZ]

1100 MVC points will not get you very far ... and you have so many option with 15k that would provide far greater benefit.

Congrats for finding TUG and recinding !

 

[Paully]

One question to you all. After looking over the contract again, there are 2 cancellation notices in the paperwork with different addresses. One was the actual place we stayed at the other a building 20 minutes away. Should I send the letter to both addresses? I still have a few days left in the rescission period.

 

[TheTimeTraveler]

One question to you all. After looking over the contract again, there are 2 cancellation notices in the paperwork with different addresses. One was the actual place we stayed at the other a building 20 minutes away. Should I send the letter to both addresses? I still have a few days left in the rescission period.

YES. Send them to both addresses via USPS CERTIFIED MAIL.

The Postal charges for an extra envelope is minimal considering you will be saving thousands!






.

 

[RSS]

Hi,

Thank you for this active website, I'm hoping my wife and I can rest easy after sending out our cancellation letter.
We sat for a MARRIOTT VACATION CLUB presentation in Orlando on Feb 5th, had no intention of buying, but heard them out. Even though we love the locations / offerings, after 90 mins we were ready to get up and go. Salesman #2 came in and unfortunately, charming and schmoozing, got us to sign for 15K.

Thankfully we did the presentation the last day of vacation and did some research on the airplane and found this forum. Rescinding the contract and buying resale seems the way to go!

Just sent a copy of the contract with a nice cancellation letter via email and certified mail today.
Let's see how long it takes to get refunded.

Thanks TUG

Good morning, I am in the same boat, rescinding a contract currently. I have filed the cancellation letter on time, Feb 7th. Can anyone recommend a reputable law firm/lawyer that specializes in timeshare issues, that I could consult with if needed?
Thanks in advance TUG

 

[vacationtime1]

Good morning, I am in the same boat, rescinding a contract currently. I have filed the cancellation letter on time, Feb 7th. Can anyone recommend a reputable law firm/lawyer that specializes in timeshare issues, that I could consult with if needed?
Thanks in advance TUG

You don't need a lawyer at this time. If you rescinded properly, Marriott will honor the rescission. They have a while to do so (I believe 45 days), but they will refund your deposit; I am unaware of any situation where they didn't.

Relax -- and congratulations on saving thousands of dollars.

 

[RSS]

You don't need a lawyer at this time. If you rescinded properly, Marriott will honor the rescission. They have a while to do so (I believe 45 days), but they will refund your deposit; I am unaware of any situation where they didn't.

Relax -- and congratulations on saving thousands of dollars.

Hope your right, Robert. No money changed hands, but there is a mortgage transaction with the sale of a "deeded week" and purchase of club points. Hoping to find a "just in case" lawyer.
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[dioxide45]

Hope your right, Robert. No money changed hands, but there is a mortgage transaction with the sale of a "deeded week" and purchase of club points. Hoping to find a "just in case" lawyer.
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Legally they can't close on the deal until the rescission period is over. So the deed won't be filed. About 15% of all transactions are rescinded and I am sure most if not all go through fine without the buyer needing a lawyer.