Newbie. Wondering if I should rescind. Help appreciated!

[Grammarhero]

Gentlemen:

Regarding contract "123" for purchase of a timeshare at "ABC" resort. We are exercising our legal right to cancel this contract. We expect a full refund of our deposit of "$123." Do not make any additional charges to my credit card. Please confirm my legal rescission in writing.

Sincerely,

John Husband
Jane Wife

 

[Jjdjtpln]

Hi, new member here! Currently staying at Vistana Villages in Orlando and was invited to a presentation yesterday. Long story short, purchased Sheraton Flex deeded ownership w/25,800 star options/points annually starting in 2022 and a bonus of 50K points this year. Unlimited getaway weeks and gold elite status for life. Price tag $10K. Was told that I can book 4 night stays at resorts around the world for 7200 options/points which would allow me to travel several times a year at their properties with selected plan. I started researching last night and all day today and found this forum. Now second guessing. Would love input. Is this worth it? Anyone have experience with this type of ownership and can offer advice? Should I resincd? Thanks in advance!

I just want to thank everyone in this forum for your tips and guidance. As a young person who made a very impulsive decision and was very nervous about the repercussions, you guys have truly put my mind and heart at ease. Thank you so much.


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[vacationtime1]

AFTER YOU RESCIND:

1. Don't buy anything for several months.
2. Research; TUG is great for that; keep asking questions.
3. Buy resale.
4. Take your time; resale prices aren't going up.
5. Consider renting a few times. It will give you an idea of the differences between resorts and systems and inform you as to what you are willing to pay extra to have and what is unnecessary for you.

 

[Grammarhero]

you should buy a timeshare only after 50 hours, possibly 100 hours, of research. This is from someone who had as many as 7 timeshares, all bought for $1.

 

[CPNY]

I just want to thank everyone in this forum for your tips and guidance. As a young person who made a very impulsive decision and was very nervous about the repercussions, you guys have truly put my mind and heart at ease. Thank you so much.


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I made my first impulse timeshare buy at 22. They prey on all of us.

 

[CPNY]

I can’t afford to do leave work tomorrow unannounced like that. I couldn’t have him sign the letter and express mail it to me?


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My comment about flying to NJ was made in jest to show the severity of the situation. You both need to sign. Overnighting the signed letter to you works but get it done ASAP. You don’t need any delays with sending the letter.

 

[TravelJunkie33]

AFTER YOU RESCIND:

1. Don't buy anything for several months.
2. Research; TUG is great for that; keep asking questions.
3. Buy resale.
4. Take your time; resale prices aren't going up.
5. Consider renting a few times. It will give you an idea of the differences between resorts and systems and inform you as to what you are willing to pay extra to have and what is unnecessary for you.

This is my plan. I've learned so much from this site in the last two days and plan to learn more. Thank you!

 

[CPNY]

This is my plan. I've learned so much from this site in the last two days and plan to learn more. Thank you!

I suggest you stay within vistana. If you want the same things they sold you on, buy a mandatory deed. Familiarize yourself with what mandatory and voluntary deeds are in vistana resorts.

 

[Grammarhero]

I made my first impulse timeshare buy at 22. They prey on all of us.

But you've since stuck it to the TS industry.

 

[CPNY]

But you've since stuck it to the TS industry.

I have, I will continue to do my best to take money out of sales weasels hands.

 

[B4d 24]

If you bought from the developer then, yes, rescind. What day did you sign the contract?
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Would Sheraton exercise their right of first refusal? Or I guess how often does that happen?