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New MVC owner within 10 day cancellation window

bmorehokie

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Hello, we just got back from a stay at the Marriott Grande Ocean in Hilton Head where we made the commitment to join the MVC. We purchased 4,000 points at retail on 6/18, so 3 days ago now. We went into the presentation with plans to stay for the required 90 minutes and leave. Turns out we liked the idea of the program and decided to become a member. After we left, I did more research on the MVC and realized the so-called "equity" that we will build does not exist and the resale market is littered with people trying to get out.

I just found this forum in my searching and realize the better way to get into the MVC program is through a resale and not a retail purchase. Is there a guide on how resale purchases work? We are within the 10 day window to cancel and at this point don't see why we would continue forward with the purchase at retail pricing.

Thanks for any insight you can offer.

*Edit - my other concern is my research of property availability and being able to book the property you actually want. Do you experience issues with this? Do you have to actually book as soon as it becomes available? At the Select level, if I want to book 5 nights I can only book 12 months out. Will there still be prime properties during peak travel times available?
 

vacationtime1

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Step one: Rescind. Follow the instructions as to where/ to send, use a method that generates a proof of mailing, and make sure everyone who signed the purchase contract signs the rescission letter.

Your thoughts about purchasing resale and issues about reservations are sound, but first, rescind.
 

CPNY

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Rescind then buy resale
 

jwalk03

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You should rescind now. In South Carolina you only have 5 days to rescind, so you have a very short single window of opportunity to save yourself thousands of dollars.

AFTER you have completed your recession- come back and figure out if time sharing is right for the way you like to travel and if so- Is Marriott the right choice for you? If you decide that it is then you can buy resale points or weeks for thousands less and enjoy the same great vacations.
 

Dean

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Rescind and get better educated on the options. Then if it's still right for you you'll have a number of choices including retail or resale.
 

Pamplemousse

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I agree with everyone else but just to start to address your edit-
If you buy a resale week you will not be in the destinations program because you can’t enroll a resale week without a points purchase and then you will be back to where you are right now.
If you own a resale week you will stay at that resort during the season you buy or you will exchange via interval international. MVC doesn’t have an internal exchange for weeks- you use interval no matter where/ what brand.
You could also buy resale destination club points and in that case you will book those to MVC resorts directly and yes the number that you own does affect the advance time you can attempt to book.

Congratulations on finding this site- you saved yourself so much money and frustrations. So much information here! Read through the pink area- esp the last 2 faqs on week and points ownership and then come back with questions.
 
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TheTimeTraveler

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Hello, we just got back from a stay at the Marriott Grande Ocean in Hilton Head where we made the commitment to join the MVC. We purchased 4,000 points at retail on 6/18, so 3 days ago now. We went into the presentation with plans to stay for the required 90 minutes and leave. Turns out we liked the idea of the program and decided to become a member. After we left, I did more research on the MVC and realized the so-called "equity" that we will build does not exist and the resale market is littered with people trying to get out.

I just found this forum in my searching and realize the better way to get into the MVC program is through a resale and not a retail purchase. Is there a guide on how resale purchases work? We are within the 10 day window to cancel and at this point don't see why we would continue forward with the purchase at retail pricing.

Thanks for any insight you can offer.

*Edit - my other concern is my research of property availability and being able to book the property you actually want. Do you experience issues with this? Do you have to actually book as soon as it becomes available? At the Select level, if I want to book 5 nights I can only book 12 months out. Will there still be prime properties during peak travel times available?


PAY NO ATTENTION TO THAT MARRIOTT SALESPERSON BEHIND THE CURTAIN. Rescind, and rescind today. You may only have FIVE days to rescind, and that will be your last opportunity to do so as it is a one time chance.

Study up, do you homework and buy again if you want to, however I think you will find that buying resale will save you some big bucks!

Send you rescission paperwork via USPS Certified Mail, and retain a copy for yourself. Any buyer who signed the purchase agreement should also sign the rescission paperwork.

Although you didn't say how much you spent, I am assuming it is somewhere north of $40,000.


Welcome to TUG and go celebrate your savings :cheer::banana::whooopie: :wave: :hi:



.
 

jme

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FIRST, Don't be dismayed.

Shouldn't you be extremely happy upon discovering that freight train MISSED YOU by mere inches?
So don't worry, be happy.

You have found the right product, that being MARRIOTT.

The excitement of your impulsive purchase and becoming a member will still be valid, but only after you learn how to purchase
the product in a more cost-effective manner, so Congratulations are in order!
Your lifetime of happiness is still going to happen. Count it an extreme blessing to have found TUG.

First RESCIND, then we'll ALL talk with you about your next steps......no pressure there.

Again, welcome to a community of genuine friends (and advisors) that you will come to know, appreciate, and love.
 

Swice

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I applaud your research.
Let me add:

You stated "the resale market is littered with people trying to get out." Don't think of it in negative terms.
For the most part, you will find people on TUG generally like the product itself. TUGGERS "learn" the system and want to get the most value out of the product.
The people who take the time to learn and use their timeshares - "love" them. People who don't bother to learn the system and don't use them, think they are a financial drain. I equate timeshares to my neighbors who have boats. The boat owners who use their boats "love" them. My neighbors who don't use their boat very often have gotten tired of the maintenance, taxes and dock fees and regret buying.

What they are selling is true-- you will get nice vacations around the country/world that, in my opinion, you probably would not shell out the money for if you were paying the full rack rate each year. A 5-star hotel with amenities/pools in a resort location would cost $400 a night. ...and that's a hotel ROOM, not a condo with a full kitchen. You will have multiple bedrooms, bathrooms and sofa/chairs. Our kids are spoiled. They are used to "space" instead of all four of us propped up on two beds watching the same tv and sharing the same bathroom. Even if you don't "cook" in the kitchen, it's so nice to have a place for drinks/snacks. Simply doing breakfast in the unit (milk and cereal) sure beats all four of us having to get up at the same time, take turns in the bathroom getting ready and all going to get breakfast at a fast food joint. ...that alone makes vacations sooooo much easier. When we are on vacation for an entire week, there are some nights we were just plain tired and simply didn't want the hassle of going to a restaurant and eating a big meal. We've gotten cans of soup and those prepackaged salads that come with the dressing at the grocery store. We've ordered Pizza Hut and popped a few bags of microwave popcorn and had movie nights... you could say over the years we have saved a lot of restaurant meal money by staying in the unit... so that saving could be deducted from the original investment.

When your life changes, you are probably not going to sell your week/points for anywhere near what you originally paid. But if you divide that original cost out among all of your vacations over the years, you'll find you actually ended up way ahead in total costs. So timeshares are not an investment with regard to "equity.' But I'll argue, if you use the timeshare for many years, you'll find the investment well worth it.
 
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bmorehokie

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Does anyone have information on how to rescind the contract? The contract itself only mentions the timeframe but not how to do it. I reached out to my sales rep, but I am sure he will play the slow response game. People have mentioned rescission paperwork, but I can't find that. Thanks!
 

bmorehokie

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PAY NO ATTENTION TO THAT MARRIOTT SALESPERSON BEHIND THE CURTAIN. Rescind, and rescind today. You may only have FIVE days to rescind, and that will be your last opportunity to do so as it is a one time chance.

Study up, do you homework and buy again if you want to, however I think you will find that buying resale will save you some big bucks!

Send you rescission paperwork via USPS Certified Mail, and retain a copy for yourself. Any buyer who signed the purchase agreement should also sign the rescission paperwork.

Although you didn't say how much you spent, I am assuming it is somewhere north of $40,000.


Welcome to TUG and go celebrate your savings :cheer::banana::whooopie: :wave: :hi:



.
Yep, 4,000 points at a discounted price of $44k with 8,000 bonus points.
 

jwalk03

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Does anyone have information on how to rescind the contract? The contract itself only mentions the timeframe but not how to do it. I reached out to my sales rep, but I am sure he will play the slow response game. People have mentioned rescission paperwork, but I can't find that. Thanks!
Every timeshare contract is required by law to provide you with information on your right of recession, so the instructions for how to do it are in there somewhere. Sorry I have never purchased from Marriott directly to be able to give you a better answer than that, but the jist of the instructions are you need to send a letter to the address specified saying you wish to exercise your right to rescind and provide the contract number. Make sure anyone who signed the contract also signed the recession letter and keep proof of the date you mailed the letter (through certified mail for example). The date they receive the letter is irrelevant so there is no need to pay to overnight or anything like that, you just need to have proof that you mailed the letter within the recession window. Don't try and call the salesman- he has lots of reasons ($$$) NOT to assist you with successfully rescinding your contract and will likely try to talk you out of it, or slow ball your way past the recession date.
 

bmorehokie

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Every timeshare contract is required by law to provide you with information on your right of recession, so the instructions for how to do it are in there somewhere. Sorry I have never purchased from Marriott directly to be able to give you a better answer than that, but the jist of the instructions are you need to send a letter to the address specified saying you wish to exercise your right to rescind and provide the contract number. Make sure anyone who signed the contract also signed the recession letter and keep proof of the date you mailed the letter (through certified mail for example). The date they receive the letter is irrelevant so there is no need to pay to overnight or anything like that, you just need to have proof that you mailed the letter within the recession window. Don't try and call the salesman- he has lots of reasons ($$$) NOT to assist you with successfully rescinding your contract and will likely try to talk you out of it, or slow ball your way past the recession date.
Thanks, I found it in the contract. They accept mail, fax or email as a method for cancellation. I just drafted the rescission letter and sending it out. Thanks everyone for all the help so far.
 

Dean

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Thanks, I found it in the contract. They accept mail, fax or email as a method for cancellation. I just drafted the rescission letter and sending it out. Thanks everyone for all the help so far.
Sure then you can begin your journey to figure out if timeshares are a good choice for you and if so, the best one and options within that system.
 

m61376

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Now’s the fun part!
Congrats on potentially saving yourself a lot of money and welcome to Tug!! You’ll find us a friendly bunch
While we may differ in opinion on whether buying resale or directly from Marriott is best, I think all of us would support your decision to rescind. Take the time to learn about the system, figure out what’s best for your needs, and then how best to purchase it. As others have posted, timeshares are wonderful for many, and around here you’ll learn how to make and use any future purchase.
It’s revolutionized our travel, and while not a financial investment, it is an investment in family and friends and the memories are truly priceless.
There are lots of options for you, and the best place to start is to think about your vacation goals. Do you envision returning at least half the time to one place? What size unit do you need now? Will your needs change over the next 5 or 10 years? How much flexibility do you have? And the very important question of $- what can you afford (financing a timeshare is never a good investment)?
People will be very happy to offer advice and opinions, but the most important thing is to base it on your needs, and to be sure you really understand the benefits, costs ( purchase and annual maintenance fees) and, yes, the limitations.
It’s some of the best purchases we ever made but it’s not for everyone. It’s much easier to buy than to sell so take your time and get all your questions answered first.


Sent from my iPhone using Tapatalk
 

Bunk

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I suggest that you send the notice of cancellation by: (1) fax and keep a copy of the transmission confirmation and (2) email and (3) first class mail with proof of mailing and (4) certified mail return receipt requested and (5) FedEx/UPS. This may be overkill but do it to avoid any subsequent issues about whether you complied with the terms of the notice of right to cancel
 

wackymother

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I suggest that you send the notice of cancellation by: (1) fax and keep a copy of the transmission confirmation and (2) email and (3) first class mail with proof of mailing and (4) certified mail return receipt requested and (5) FedEx/UPS. This may be overkill but do it to avoid any subsequent issues about whether you complied with the terms of the notice of right to cancel
Definitely do this. It will really help your peace of mind to have that little green mailing receipt in your hand.
 

BocaBoy

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Definitely do this. It will really help your peace of mind to have that little green mailing receipt in your hand.
But you do not have to do all 5 options to accomplish that. If you want a back-up method to make you feel more comfortable, do certified mail with return receipt and either E-Mail or Fax.
 

TUGBrian

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congrats on finding TUG in time to rescind and save a fortune!
 

Grammarhero

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deleted
 
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LUVourMarriotts

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I'm glad you found TUG when you did. I found TUG about 3-4 weeks after I purchased our second week, back in 2006.

We were at MOW recently. In the pool one evening, I was talking to a couple that had just purchased points earlier that day. I asked them if they knew that there is a resale market that might allow them to buy 3x or even more points for the same money. They said they knew about it, but that the salesman told them the price they paid was a COVID discounted price. I tried, but not sure I got anywhere with them. They seemed to be mostly concerned whether they paid more or less than their cousin, who purchased a year or two ago.
 

jules54

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I'm glad you found TUG when you did. I found TUG about 3-4 weeks after I purchased our second week, back in 2006.

We were at MOW recently. In the pool one evening, I was talking to a couple that had just purchased points earlier that day. I asked them if they knew that there is a resale market that might allow them to buy 3x or even more points for the same money. They said they knew about it, but that the salesman told them the price they paid was a COVID discounted price. I tried, but not sure I got anywhere with them. They seemed to be mostly concerned whether they paid more or less than their cousin, who purchased a year or two ago.
You can lead a horse to water etc. lol I hv helped many folks out by the pool. Now when my husband sees me ease dropping on a conversation about recent timeshare buyers he says: Nope No No stay out of it lol.
 

TravelTime

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Hello, we just got back from a stay at the Marriott Grande Ocean in Hilton Head where we made the commitment to join the MVC. We purchased 4,000 points at retail on 6/18, so 3 days ago now. We went into the presentation with plans to stay for the required 90 minutes and leave. Turns out we liked the idea of the program and decided to become a member. After we left, I did more research on the MVC and realized the so-called "equity" that we will build does not exist and the resale market is littered with people trying to get out.

I just found this forum in my searching and realize the better way to get into the MVC program is through a resale and not a retail purchase. Is there a guide on how resale purchases work? We are within the 10 day window to cancel and at this point don't see why we would continue forward with the purchase at retail pricing.

Thanks for any insight you can offer.

*Edit - my other concern is my research of property availability and being able to book the property you actually want. Do you experience issues with this? Do you have to actually book as soon as it becomes available? At the Select level, if I want to book 5 nights I can only book 12 months out. Will there still be prime properties during peak travel times available?
You can purchase 4000 points resale for about $20,000 including the $3 transfer fee.
 

bernierosa

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I applaud your research.
Let me add:

You stated "the resale market is littered with people trying to get out." Don't think of it in negative terms.
For the most part, you will find people on TUG generally like the product itself. TUGGERS "learn" the system and want to get the most value out of the product.
The people who take the time to learn and use their timeshares - "love" them. People who don't bother to learn the system and don't use them, think they are a financial drain. I equate timeshares to my neighbors who have boats. The boat owners who use their boats "love" them. My neighbors who don't use their boat very often have gotten tired of the maintenance, taxes and dock fees and regret buying.

What they are selling is true-- you will get nice vacations around the country/world that, in my opinion, you probably would not shell out the money for if you were paying the full rack rate each year. A 5-star hotel with amenities/pools in a resort location would cost $400 a night. ...and that's a hotel ROOM, not a condo with a full kitchen. You will have multiple bedrooms, bathrooms and sofa/chairs. Our kids are spoiled. They are used to "space" instead of all four of us propped up on two beds watching the same tv and sharing the same bathroom. Even if you don't "cook" in the kitchen, it's so nice to have a place for drinks/snacks. Simply doing breakfast in the unit (milk and cereal) sure beats all four of us having to get up at the same time, take turns in the bathroom getting ready and all going to get breakfast at a fast food joint. ...that alone makes vacations sooooo much easier. When we are on vacation for an entire week, there are some nights we were just plain tired and simply didn't want the hassle of going to a restaurant and eating a big meal. We've gotten cans of soup and those prepackaged salads that come with the dressing at the grocery store. We've ordered Pizza Hut and popped a few bags of microwave popcorn and had movie nights... you could say over the years we have saved a lot of restaurant meal money by staying in the unit... so that saving could be deducted from the original investment.

When your life changes, you are probably not going to sell your week/points for anywhere near what you originally paid. But if you divide that original cost out among all of your vacations over the years, you'll find you actually ended up way ahead in total costs. So timeshares are not an investment with regard to "equity.' But I'll argue, if you use the timeshare for many years, you'll find the investment well worth it.
I totally agree with you the beauty of TIME SHARING is in "the eye of the beholder". I feel much better staying with my my family in a timeshare unit with lots of space and kitchen dinner options than in a hotel room all cramped and without much space. I will always buy resale and use Interval, RCI or any other company you might prefer to get to other destinations with your unit. I been learning a lot in TUG and just acquire my 2nd Time Share from a fellow tugger. Maybe in the future I will dumped or do a free give a way for my two Time Shares, but in the mean time I am enjoying TS.
 
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