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NEWBIE - For the 1000th time I'm sure

Cheese

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Hi folks,

I am BRAND NEW to the world of TSing, and would like some advice. My bride and I went to a Marriott Vacation Club in Orlando, and went to a very effective presentation of the Marriott program and we bought a Time Share in Orlando. We have two kids in college, and a 9 year old, and a live in Mother-in-law we'd like to take with us on vacation.

I am a total newb to time sharing, and I can see from these columns there are nuances and tricks you can do to really get the most out of your $$. I like the idea of exchanging, which is what really sold me on the whole deal anyway. We have a very flexible vacation schedule, and I think that's a good thing. I didn't see any negatives, but after looking at all the advice in these columns and other places, I'm wondering what I can do to make it better. We just signed Saturday, and I think we have 10 days to back out or re-do it if we can.

We bought in Horizon's in Orlando, for week 50 (the week before Christmas). I think that is a very low demand week. Is this bad? Should I demand a better week or site? Any advice for me?

Thanks in advance,

Cheese in Missouri
 

AwayWeGo

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[triennial - points]
Rescinda-Sinda-Sinda.

Any advice for me?
Click here for some practical advice that is short & sweet & true.

-- Alan Cole, McLean (Fairfax County), Virginia, USA.​
 

wackymother

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Rescind your purchase immediately, NOW, while you still have time. Follow the directions in the contract to the letter, especially the part where the contract tells you how to mail the letter. Usually US Postal Service certified with return receipt is specified. MAIL THE LETTER TOMORROW!!!!

Week 50 in Orlando will be a very weak trader. Marriott has a nice product, but you can buy something much nicer on the resale market for a fraction of the cost.
 

Patri

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Rescind. Then come back to join us and have a great time learning about timesharing. Week 50 is not good.
 

Cheese

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WOW - you guys are awesome.

Besides cost, what are the advantages of buying resale or not? Do you get more benefits if you buy direct from Marriott?

Just wondering. Thanks again.

Cheese
 

ecwinch

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DO NOT Rescind. Delete TUG's URL from your computer, and enjoy your purchase like most t/s owners who never find TUG.

Just kidding - posts like these always get the same response, I wanted to mix it up a little bit. :)

Of course, rescind. You made a significant impulse purchase. Rescind now, hang out and learn a little more about t/s. If you have a flexible vacation schedule, you might find other products that fit your lifestyle better. Marriott has a great product, but it works best for owners that plan week-long vacations well in advance. There are some other products that are more flexible, and might be a better fit.

If you find out later that the week you purchased was really the right choice, you can always go back and buy it. It's not going anywhere.
 

AwayWeGo

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[triennial - points]
Extra Benefits.

Do you get more benefits if you buy direct from Marriott?
The extra benefits are worth maybe $500.

For that $500 worth of extra benefits, you're paying $10,000 or so -- a bad deal any way you shake it.

Nothing the timeshare companies sell at full freight is worth the money -- specially any so-called extra benefits.

-- Alan Cole, McLean (Fairfax County), Virginia, USA.​
 

ecwinch

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Besides cost, what are the advantages of buying resale or not? Do you get more benefits if you buy direct from Marriott?
Resale your cost will be about 10-20% of what you probably paid. That is the only advantage.

With resale - you will not get the ability to trade your week for Marriott Reward points. Other than that you will be just like the rest of us resale owners.
 

DeniseM

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I have to agree - Rescind! In this economy you can buy the exact same timeshare for a fraction of the cost of retail. The few minor perks you get from buying retail, are not worth the thousands more that you paid.

Rescind, and then take your time, become a knowledgeable buyer, and make your decision with no pressure...

Here is more info. about rescinding - it was written for a different system, but besides that, everything applies to your situation.

Time is of the essence - don't delay!

Good luck! :hi:
 
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vacationtime1

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Rescind. And take your bride out to a nice dinner, congratulating yourselves for finding TUG in time.

Speaking of time and timesharing: take at least two or three months reading this board and scouting potential resales here, on Redweek.com, and on MyResortNetwork.com before purchasing. This is an excellent time to buy and you can get exactly what you want for a fraction of the the price you would have paid.
 

djs

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The ONLY true thing that your salesperson told you is that the deal they offered will not be avaiable tomorrow. That part is true, tomorrow you can get a better deal from both the salesperson and from another resale option.

Get out now. Make sure you follow the recision instructions to a T. FedEx is NOT a better way to send your letter if the instructions say it must be sent by certified mail. The postmark on what you send is the determining factor in when you sent your recision letter. It does not matter if it takes the USPS 2 years for the letter to reach them; as long as you sent it certified/registered/first class (depending on the language in your contract) you have successfully recinded your purchase.

If you feel a need to spend an extra $20 by using FedEx, that's fine.....just make sure you've followed their instructions first. Mind you, there's no reason to do this but $20 is nothing compared to the $15,000 you may have been on the hook for.

Like others have said, take some time to research the info available here on TUG. Pay the $15 a year to join as a Member and you can buy yourself a year or two by renting a TS from a member for (presumably) less than any maintainence fee you might otherwise be responsible for paying. By joining as a member you'll also have access to resort reviews and you'll be helping to support a phenominal resource for info on timeshares.

Good luck, and hopefully you'll be able to enjoy your experience as a TS owner (in a year or two when you purchase something on the resale market that works for you).
 

rickandcindy23

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Lucky you for finding TUG before it's too late! Rescind, and then buy resale. You can buy two Marriott weeks for that purchase you made.

Good luck in the hunt, and be sure to confirm your choices by talking to the Marriott experts here (of which I am not one).
 

applegirl

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Welcome to TUG!

Rescind, rescind! You can buy multiple Marriott weeks for the price you paid for your weak trader week from Marriott. The only advantage of buying from Marriott is that you can trade your week in for MRP's on years you can't use your week (which is not going to happen if you hang out here and learn how to really get the most from t/s ownership). The trade in week for points thing though isn't a good deal because they recently devalued the MRPs and you can't really get much for the points they would give you for your week, especially when you consider you would still of course have to pay your MF's for that year!

AFter you rescind, following the directions very carefully, then come back here to TUG and learn what is really right for you. There is also the points system of t/s which allows for shorter stays and some people really like the flexibility of points ownership.

Either way, you will most likely love t/s if you learn what is best for you and then how to use it by reading and participating here at TUG!

Best of luck!

Janna
 

m61376

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I agree with all of the above posts except possibly it only costing 10-20% on the resale market. For most Marriott purchases, that is a bit of an exaggeration, but the savings will be VERY significant and you should definitely rescind immediately, following the directions in your purchase contract (send a certified letter with return receipt, keep a copy, etc.).

While there are some Marriott owners who advocate buying direct, even in this market, I still think it would be a huge mistake not to rescind immediately. regardless of what you ultimately decide to do. You have a small window to rescind and can always rebuy from Marriott if you decide to do so. Take the time to read lots of posts on the Marriott Board and learn about the product, about resale versus developer, prices, the floating week system, etc., and then decide what is right for you and your family.

Timesharing is wonderful and I think Marriott has a great product. Make sure it's for you.

Feel free to ask lots of questions as you peruse the Marriott Board and elsewhere. Oh- and welcome to Tug :wave: :wave:

Congrats on finding this site before it was too late to rescind. You might enjoy your purchase a lot more if it costs a whole lot less!
 

lawtechie

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Weeks 51 and 52 are good. As are Easter weeks, Memorial week, 4th of July is very good. Thanksgiving week also. Labor day not as great.
 

Bill4728

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We just bought a resale Marriott TS on the California coast. It was a floating gold season ( Jan- June) for $7500. :eek: Marriott want $29,000!! :eek:


So, we will not have the option of turning in our week for 100,000 marriott reward points. ( but we still can buy the points direct from Marriott for $1250) But since I bought to use the TS or trade the TS, not being able to get points isn't worth the extra $21,000 marriott wanted. :clap:
 

m61376

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Bill: :clap:
And, while I agree with you completely, I don't think the OP should concern himself today with whether or not he should buy resale or directly, or even what season he should purchase, but acknowledge that he has a lot to learn and that he should take the time to become fully informed before making such a large purchase. It should not be made on the spur of the moment while on a vacation high, so to speak.

By virtue of the fact that he is even here posting, he should realize that he is not convinced that this is the right decision and rescind immediately. These special sales, if being offered at this resort, are good until April 22nd, so he certainly has a few weeks at least to become better informed and not miss out on anything.

Whether resale or direct, you shouldn't make a purchase until you are comfortable enough that you know what you are doing is the right thing. Remember- you only have a few days to rescind, but can buy at any time in the future. There will always be units for sale. Unlike a house, timeshares are not one of a kind, so it will not be an opportunity lost. Tomorrow, next week...you can always buy the identical property when you are ready.
 

Egret1986

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So, Cheese, did you rescind?

Great advice here. Many great reasons why this transaction should be rescinded while there is time. Be an informed buyer and you will get so much more for your money. As stated, too much money and a poor week for exchanging. If you have a nine year old, you will be tied to school breaks for many years and most children are still in school during week 50.
 

Cheese

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OKAY OKAY - we rescinded! The TUG response was overwhelming! I was expecting maybe one or two vague responses in a day or two, instead of the all of these responses and advice, and even some private messages! We sent the letter CM today. Thanks everyone for ALL your timely and expert advise.

I grew up in a 'timeshare' community years ago back when they weren't so honorable, and always wondered why people bought these dumpy condos for premium bucks from snake oil salesman types.

I was put off my guard by the professionalism of the Marriott folks, the quality of the units, and the HUGE exchange network available in II - and all this is not a bad thing. It got me looking seriously into the world of t/s and for more info - which led me here to you fine folks at TUG.

I also became a TUG member. SO...I'll start stalking the BBS, looking at the for sale properties, etc. etc.

Any advice on where to start first or what to do? We aren't in any real hurry to purchase anything, although this seems like a fabulous time to buy.

Thanks again for all your help,

Mr. and Mrs. Cheese and family
 

djs

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Congratulations on recinding. One very important piece of advice is that the salesperson will most likely try and contact you to salvage the "deal". They are paid on commission and therefore will try and do what it takes to get paid. They may try and convince you to buy an "every other year" unit where your cost would be less as would your MF. They may also cut the price a few thousand or come up with some other scheme. Don't go for any of them. Every "deal" they offer you will be available next week, next month and most likely even next year.

Hold firm, you've done everything required of you to recind. You do not need to answer the phone when they call, nor do you need to call them back.
 

AwayWeGo

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Once You've Rescinded, Then Be Sure You Stay Rescinded.

Every "deal" they offer you will be available next week, next month and most likely even next year.
Not only that, nothing they offer you via any such "deal" will be worth the money.

Buy timeshares resale. Save thousands of dollars.

-- Alan Cole, McLean (Fairfax County), Virginia, USA.​
 

DeniseM

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Any advice on where to start first or what to do? We aren't in any real hurry to purchase anything, although this seems like a fabulous time to buy.

Thanks again for all your help,

Mr. and Mrs. Cheese and family
Congratulations on your rescission!

I would start my reading on the TUG Advice page - linked in the red bar at the top of the page.

Then, since you are interested in Marriott, I read the stickies at the top of the Marriott Board, and start reading through the posts.

If there are particular Marriott properties you are interested in, check out the TUG reviews - click on TUG Resort Database in the red bar at the top of the page.
 

wackymother

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We love when a newbie listens to us! Every time a newbie rescinds a developer contract...an angel gets his wings. :p
 
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