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Newbie and I need help quickly!

AdaKate

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We went in to our first ever Timeshare presentation with the plan to NOT give in. Yet we did. Thanks to previous postings, I know we have a 10 day rescission period, and more than likely will be using it. Just need some advice/clarification.

What we purchased: 4,800 points - 1 bdrm platinum EOY for $18,780 (inc closing), we also walked away with 20,000 bonus points. (This was a "pre-owned" deal after the sticker shock of the first, and we worked up from 7k bonus to 20K)

One of our main incentives for purchasing was the open season cash rates that were "only available if we purchased at our FIRST offer - and legally couldn't offer us again..." $389 for a week with HCI, or $39/night with HGVC. Are these available if we purchase private resale?

We will not be financing this long term (less than 5 months), but 19K, plus fees adds up. We would love to vacation this way though! Any tips??
 

vacationhopeful

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Rescind .... every offer is always ... ONCE, first time, good today only, special inventory ... it is always JUST FOR YOU!

There is no thing as a NEW TIMESHARE. Every place has been slept in before, has other owners, etc. So ask yourself ... are you really THAT SPECIAL that they dreamed up this sweet deal for you OR was it just a spin story to sell a product that they don't want you to think about or research?

READ here, ask more questions and when you really have more of an understanding, buying will have way less stress and could COST you pennies compared to the dollars they are draining from you.

PS. Most of us do NOT recommend you finance a TS purchase. This is a luxury item ... which does NOT hold ANY value ... like your home or car or used sneakers.
 

GM600

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AdaKate

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We are still here at the resort. Is there any reason to mail vs walk it over to the sales office?
 

Talent312

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We are still here at the resort. Is there any reason to mail vs walk it over to the sales office?
You could walk it over, but that doesn't mean you're off the hook..
You must also follow the instructions in your contract to the letter, exactly.
Read it. Failure to do that means they have no legal duty to honor the rescission.

They flat-out lied to you about open-season (cash) rates. It's a part of every TS.
It matters not when or how you acquire your TS, it's a standard booking option.
"How do you know a TS salesman is lying? -- His lips are moving."

Also: It makes no difference to HGVC sales if a TS was "pre-owned" or not.
They sell every TS they build, manage or take-back for insane as-if 'new' prices.

Those bonus points will disappear quickly and you'll be left w/an overpriced TS.

HGVC is a high-quality, flexible system, with a decent website and call-center.
But you paid way too much compared to a resale price from a reputable broker:
Seth Nock at www.sellingtimeshares.net or Judi Kozlowski at www.judikoz.com

.
 
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onenotesamba

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I bought my first contract (resale) about two years ago for 4800 points, but EVERY year, not EOY, and I paid $3000. And I get access to open season rates (and have used them), though, frankly, those open season rates are just about the same as if you booked the units as hotel stays through hilton.com. Those bonus points are not worth the extra money you paid to buy in. That price for 4800 EOY is about 10 times what you'd pay for the same thing on the resale market. Like, I found this listing: http://www.sellingtimeshares.net/hilton-bay-club-at-waikoloa-3/ which is 4800 EOY, and it's about 10% of what you paid.

Follow the instructions TO THE LETTER and rescind.
 

Passepartout

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We are still here at the resort. Is there any reason to mail vs walk it over to the sales office?
Well, YES. Remember your intention to not buy? Those salesweasels are trained to be able to counter ANY argument you may have. So make it easy on yourself and rescind by mail. Follow the instructions in your contract. Include a copy of the signature page. ALL signers of the contract have to sign the rescission letter. Send it Certified w/return receipt so you have proof.

Congratulations on finding TUG. You'll be able to get far more on the resale market than from the developer, and be treated exactly the same when you use those points.

Jim
 

Iggyearl

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"We would love to vacation this way though! Any tips??"

You can vacation that way without paying retail. You can learn about timeshare on this site. Resale timeshares are available on Redweek, Tug, and Ebay. You can also rent timeshares from current owners. Many members of Tug don't even own a timeshare. (I don't). Some owners can't use their allotted vacation time. Others make a cottage industry out of renting timeshare inventories. You can live the "timeshare life" without paying through the nose.

Get your letter into the mail, and start your journey of education. You've saved a boatload of money. Now - go out and spend it slowly.:clap:
 

Karen G

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Once owned these: FirstFairway@Walden X 2; Lawai Beach; ManhattanClub; PuebloBonitoRose; 4 South Africa--now timeshare-free
Find the nearest post office and mail your rescission letter by certified mail. The receipt you get from the post office is essential--it shows that you mailed the letter within the rescission period. Then go out and enjoy the rest of your vacation!
 

Jason245

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I bought my first contract (resale) about two years ago for 4800 points, but EVERY year, not EOY, and I paid $3000. And I get access to open season rates (and have used them), though, frankly, those open season rates are just about the same as if you booked the units as hotel stays through hilton.com. Those bonus points are not worth the extra money you paid to buy in. That price for 4800 EOY is about 10 times what you'd pay for the same thing on the resale market. Like, I found this listing: http://www.sellingtimeshares.net/hilton-bay-club-at-waikoloa-3/ which is 4800 EOY, and it's about 10% of what you paid.

Follow the instructions TO THE LETTER and rescind.
I have gotten great open season rates for 2 br units.. much cheaper than hotel rooms. .

Sent from my SAMSUNG-SM-N910A using Tapatalk
 

TM42

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We went in to our first ever Timeshare presentation with the plan to NOT give in. Yet we did. Thanks to previous postings, I know we have a 10 day rescission period, and more than likely will be using it. Just need some advice/clarification.



As we all know, be sure to ask if the unit is fully paid (no balance left) and maintenance for current year is also paid to date- some listings do not account for that[/QUOTE]
 

TUGBrian

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congrats on finding us in time, you just corrected an $18,000 mistake!
 

AdaKate

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We decided to hand deliver our letter today, and HGVC personnel treated us with upmost respect and handled our issue quickly. We received written confirmation of receipt. We also met with one last man who seems to handle quality. He was honest and verified that we had been lied to yesterday regarding the open season cash prices, got the name of our salesman (promising to contact upper management) and honored our decision. Today's interaction definitely gave me hope for this brand to be amazing. We were offered a one week, no strings attached week for 6 for $1700 to "try it out". Is that worth the $ or better to rent here? I'm a little hesitant to rent points, worried about it not working out completely.

We can't thank you enough for your help! The burden lifted off of our shoulders is great!
 

Sugarcubesea

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I know you hand delivered the letter but if you did not follow the rescission instructions which were in your packet you are not off the hook. Please read the info you signed up for to make sure you really are off the hook.
 

AdaKate

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I know you hand delivered the letter but if you did not follow the rescission instructions which were in your packet you are not off the hook. Please read the info you signed up for to make sure you really are off the hook.
We were guaranteed that we would receive our refund within 20 days. Thank you for making sure! We have a copy where he signed/dated/etc. Ours stated within 10 days, in writing, delivered by any means.
 

GT75

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no strings attached week for 6 for $1700 to "try it out". Is that worth the $ or better to rent here?
I am not really sure what you were offered. Usually they will try to offer their VIP package for about that amount. That is 7000 bonus points which must be used within 2 years. This package requires a TS presentation.

What you were offered seems vague to me. I think more details would be needed for me to give you my opinion.

Congratulations on checking the facts before it was too late. Now you can take your time and research. Study the information here on TUG and then purchase wisely.
 

AdaKate

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I am not really sure what you were offered. Usually they will try to offer their VIP package for about that amount. That is 7000 bonus points which must be used within 2 years. This package requires a TS presentation.

What you were offered seems vague to me. I think more details would be needed for me to give you my opinion.

Congratulations on checking the facts before it was too late. Now you can take your time and research. Study the information here on TUG and then purchase wisely.

I think it was a trial of the VIP package, it had to be used within 18 months. If we chose to purchase after that (which we wouldn't), the full amount would be applied to our purchase. It seems to be away to "try out" the vacation, and let them hook you :)
 

Blues

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I think it was a trial of the VIP package, it had to be used within 18 months. If we chose to purchase after that (which we wouldn't), the full amount would be applied to our purchase. It seems to be away to "try out" the vacation, and let them hook you :)
Exactly. And that's why I wouldn't take the VIP package. $1700 for the vacation package is a fair, but not great deal. But when coupled with the requirement that you attend another presentation, and give them another chance to hook you; well, I just wouldn't.

(BTW TUGgers, didn't the VIP package used to be $1500? More price inflation?)
 

PigsDad

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(BTW TUGgers, didn't the VIP package used to be $1500? More price inflation?)
There is a current thread here where the poster said they just paid $1800 for the VIP package, so it looks like AdaKate may have gotten a better price than some others.

As to deciding if the VIP package is worth it, you just need to evaluate for yourself if a week in a 2BR HGVC property is worth the cost. Since you have already declined the sales presentation, saying "no" again shouldn't be a problem.

Kurt
 

AdaKate

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Another question- dealing with buying resale and Hiltons ROFR - how big of an issue is it for them to swoop in and take the TS? We are willing to be patient in the journey to ownership, yet I don't want to take forever to buy. We are a family of 6, but since we homeschool, we have massive flexibility with travel dates. I'm thinking we can by a smaller platinum unit, and use for a silver or gold time. Would that work? Also, are there any fees to just staying M-Th and not doing a full week? Just brainstorming our best use of points. I also realized this week, that with Armed Forces Vacation Club, we have access to a lot of exchange properties for $389/week (quite a few of them are RCI)
 

TM42

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I recently spoke with a timeshare closing service and they said it takes 4-6 weeks for Hilton to respond to ROFR. If you think you will only need silver or gold, then buy that, rather than buying platinum and having left over points to use for a few random days just to use them up. Especially since you have your Armed Forces VC, it sounds like you don't need the extra points. There are no "fees" to stay M-Th, but points wise, it costs more points per day than the typical week stay of Sat-Sat.
 

TM42

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Here is a link to some listings that were ROFR http://www.rofr.net/ I got the sense that they aren't real interested in buying them back unless they are priced very low, with some exceptions- obviously an effort to keep prices higher- I wouldnt really worry about it
 

silentg

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If OP joins tug, will have access to Marketplace, where there are many timeshares being given away.
 
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