• The TUGBBS forums are completely free and open to the public and exist as the absolute best place for owners to get help and advice about their timeshares for more than 29 years!

    Join Tens of Thousands of other Owners just like you here to get any and all Timeshare questions answered!
  • TUG started 29 years ago in October 1993 as a group of regular Timeshare owners just like you!

    Check out our happy birthday post here: Happy Birthday TUG!
  • TUG has a YouTube Channel to produce weekly short informative videos on popular Timeshare topics!

    Come check it out for a chance to win a Free TUG membership (or renewal) just for helping out!

    Read more here
  • TUG has now saved timeshare owners more than $20,000,000 dollars just by finding us in time to rescind a new Timeshare purchase! A truly incredible milestone!

    Read more here: TUG saves owners more than $20 Million dollars
  • Our 2022 Timeshare Survey is now complete and the full results as well as our expert and witty analysis of each question is available here: Here We hope you enjoy reading the results as much as we did!
  • Follow the TUG Member Banner as it travels the world on vacation with Timeshare owners! Also sign up to get the banner sent to you so you can submit a photo of your vacation with the banner to share with TUG! Banner Thread
  • Sign up to get the TUG Newsletter for free! 50,000+ subscribers! Latest resort reviews and the most important topics discussed by owners during the week!
  • Our official "end my sales presentation early" T-shirts are available again! Also come with the option for a free membership extension with purchase to offset the cost!

    Read more Here
  • A few of the most common links here on the forums for newbies and guests!

Newbie question on rescinding TS with Diamond.

dawgpound

newbie
Joined
Jan 9, 2012
Messages
2
Reaction score
0
Points
0
Location
Lincoln, Nebraska
I am a newbie to timeshares. I had read some stuff before attending a sales presentation in Hawaii. I did not know about the TUG prior to attending the presentation. I was aware the resale market was cheaper but it also seemed limited because of restrictions placed by the developers. Especially of not being able to trade with as many places within the group (although this is probably a lie from the salespeople -- I know watch their lips if they are moving then they are lying). Anyway like a dork I bought points with Diamond Resorts. I actually could afford the 'deal' but became concerned about the MF with DRI which were going to be around 2400 per year and then it looks like an additional 460 per year to stay a member of The Club (whoops the sales guys 'forgot' to mention that one). From reading posts on the TUG It looks like the MF fees are increasing by 8-14 percent per year. So NO THANKS. I am faxing the rescind information today (bought on the 5th). Would you also issue a stop payment on the personal check to the title company? Or is the check held until after the 7 days? Is it tough to rescind with diamond?
 

vckempson

TUG Member
Joined
Aug 14, 2010
Messages
980
Reaction score
2
Points
228
Location
Sparta, NJ
Follow the guidelines for recission that are in your contract to the letter. There's no need to go through additional extraordinary measures. I would not stop payment on the check. That could complicate issues immensley, I would think. Don't delay and don't forget that it's usually calendar days not business days that are being counted. There's never any problems if you do what's spelled out in the contract.
 

aliikai2

TUG Review Crew: Veteran
TUG Member
Joined
Jun 6, 2005
Messages
2,121
Reaction score
3
Points
398
Location
Yuma Arizona
Glad you found Tug

Yes , rescind asap. please follow the written instructions. Does it say a Fax is valid to cancel?
They will follow the law, so I wouldn't bother stopping payment.

Now, start reading here about the various types of systems. DRI is one, they are a few really good ones that make be better for you and your wallet,

Greg
 
Last edited:

dawgpound

newbie
Joined
Jan 9, 2012
Messages
2
Reaction score
0
Points
0
Location
Lincoln, Nebraska
Thanks for response

It looks like from the documents that I can mail, deliver, send a telegram or fax. I will fax today and then also send a certified letter.
 
Top