Recession period question

[Dionarya]

So I made a mistake. Went to Vegas over the last few days. Purchased a timeshare on 10/31/23 and now I think I’m outside my rescission period. It was for a Florida resort. In my paperwork I have 2 different recession dates. One is 5 days and the other is 10 days. Not sure which one is valid. Anyone know how it work when you purchase a Florida resort in Nevada?

 

[Passepartout]

@Dionarya
Send the rescission letter TODAY!. It's possible that the final day fell on Sunday, so would result in Monday (today) being valid. We know that Nevada Real Estate law is as short as 3 days, but in your case day one would have been 11-1.

 

[TheTimeTraveler]

So I made a mistake. Went to Vegas over the last few days. Purchased a timeshare on 10/31/23 and now I think I’m outside my rescission period. It was for a Florida resort. In my paperwork I have 2 different recession dates. One is 5 days and the other is 10 days. Not sure which one is valid. Anyone know how it work when you purchase a Florida resort in Nevada?

Do try to rescind TODAY and see what happens.

Send it via USPS CERTIFIED MAIL.... Any buyer who signed the contract must also sign the rescission paperwork.

Retain a copy of your rescission paperwork as well as your Postmarked mailing receipt. REMEMBER: It is the date of mailing which counts. Doesn't matter when it actually arrives.







.

 

[claraj]

Agree with the advice above. May as well try since you have nothing to lose by trying and everything to gain.

 

[Passepartout]

I have a (sinking) feeling that the OP bought from Wastegate due to them perusing TUG Wastegate rescission threads. They have been seen on TUG for 5 years, one would think that some of (avoiding WG) would rub off. I'd make a small, unspecified wager that if the postmark is even minutes beyond the legally required date, that WG will hold them to it.

Well, we tried.

Jim

 

[Dionarya]

I guess my recession worked. I got my initial deposit refunded. No calls and not any paperwork stating it was canceled though.

 

[TheTimeTraveler]

I guess my recession worked. I got my initial deposit refunded. No calls and not any paperwork stating it was canceled though.

Excellent!

Now, think resale next time around and spend pennies on the dollar.......




.

 

[Dionarya]

I have a (sinking) feeling that the OP bought from Wastegate due to them perusing TUG Wastegate rescission threads. They have been seen on TUG for 5 years, one would think that some of (avoiding WG) would rub off. I'd make a small, unspecified wager that if the postmark is even minutes beyond the legally required date, that WG will hold them to it.

Well, we tried.

Jim

I guess my recession worked. I've been refunded. I think I fall into the trap of it sounds great then I regret it. We vacation a LOT and we need a good trader I guess.

 

[Fido Chuckwagon]

Edit: Posted in wrong forum.

Congratulations on the successful rescission though!

 

[Ski-Dad]

Always great when someone circles back and informs of the stories ending, especially a happy ending.

 

[LannyPC]

I guess my recession worked. I've been refunded. I think I fall into the trap of it sounds great then I regret it. We vacation a LOT and we need a good trader I guess.

Well now that your rescission (not recession) is out of the way, what we suggest here on TUG is to do a lot of research before buying resale, or even acquiring one for free. Take your time. There will be many bargains out there six months down the road still.

Also, another option is to rent from current owners before buying. It allows you to "try before you buy". Often, you can rent from an owner for less than what the owner is paying in MFs---just check out TUG's Last Minute Rentals section. Even if you have to pay a couple of hundred dollars above the MFs for rent, that $200 will seem like a bargain when it comes time to get rid of your TS if you decide that you no longer want your timeshare.

Plus, you say you would like a good trader. With renting, you do not have to pay the exchange companies' membership or exchange fees. Besides, finding what you want, where you want, and when you want is usually easier with rentals than it is with exchanges.

 

[JudiZ]

Yeah! Another one for the "good guys!"

 

[vacationtime1]

Well now that your rescission (not recession) is out of the way, what we suggest here on TUG is to do a lot of research before buying resale, or even acquiring one for free. Take your time. There will be many bargains out there six months down the road still.

Also, another option is to rent from current owners before buying. It allows you to "try before you buy". Often, you can rent from an owner for less than what the owner is paying in MFs---just check out TUG's Last Minute Rentals section. Even if you have to pay a couple of hundred dollars above the MFs for rent, that $200 will seem like a bargain when it comes time to get rid of your TS if you decide that you no longer want your timeshare.

Plus, you say you would like a good trader. With renting, you do not have to pay the exchange companies' membership or exchange fees. Besides, finding what you want, where you want, and when you want is usually easier with rentals than it is with exchanges.

+1

Renting before you buy is also a good option because it allows you to "test drive" different systems, different quality levels, different types of destinations, etc.

But definitely read up here as well; there are timeshare companies that treat resale buyers fairly (Hilton comes to mind; Westin also, but for "mandatory" properties only) and others that strip out value making resale purchases nearly valueless (Westgate, aka Wastegate).

Knowledge is power.