Recission Period with Marriott Shadow Ridge??

[chemteach]

A friend just purchased Shadow Ridge on Tuesday (4/2). I Marriott's recission period 3, 5, or 7 days? She's okay with keeping it, but I'm trying to figure if I should help her rescind.

Thanks!

 

[DeniseM]

That information and the instructions for rescinding are required to be in her purchase materials. She should find them and follow the instructions for rescinding exactly.

BTW - the length of the rescission period is determined by local law - it isn't determined by the resort.

 

[Lawlar]

Rescind!

A friend just purchased Shadow Ridge on Tuesday (4/2). I Marriott's recission period 3, 5, or 7 days? She's okay with keeping it, but I'm trying to figure if I should help her rescind.

Thanks!

My opinion, for whatever it is worth: Rescind the Contract!

Your friend can always change her mind later (like Marriott won't let her renew the contract at their outrageous prices.).

I suggest you invite your friend to look at Redweek and TUG for resale prices and for her to read the threads on TUG about maintenance fees and how they keep going up every year at several times the rate of inflation. You might also have her look at what it would cost for her to rent the TS instead of buying (often less than the maintenance fees). And if she if going to finance - well forget about it.

I cannot tell you how much I regret not sending out that recission notice.

 

[aka Julie]

Tell her to rescind.

You didn't mention what season she was purchasing, but I just bought a platinum every year for just a little over $11,000 and it passed ROFR with no problem.

 

[Phill12]

My opinion, for whatever it is worth: Rescind the Contract!

Your friend can always change her mind later (like Marriott won't let her renew the contract at their outrageous prices.).

I suggest you invite your friend to look at Redweek and TUG for resale prices and for her to read the threads on TUG about maintenance fees and how they keep going up every year at several times the rate of inflation. You might also have her look at what it would cost for her to rent the TS instead of buying (often less than the maintenance fees). And if she if going to finance - well forget about it.

I cannot tell you how much I regret not sending out that recission notice.

Redweek right now has 24 units for sale ranging from $6795.00-$19,950.00.

I agree to rescind now and look around for awhile and save money!

She can always go back later and pay those high prices.

PHIL

 

[chemteach]

I know that she should rescind, I'm just wondering if it is 3, 5, or 7 days because if it's less than 7, it's too late. I'll check with her about the paperwork.
Thanks!

 

[Dave M]

Assuming your friend was in California when she committed to purchase, she has seven days to cancel. Section 11225(b) and 11239(b) of the CA Business and Professions Code

 

[chemteach]

Assuming your friend was in California when she committed to purchase, she has seven days to cancel. Section 11225(b) of the CA Business and Professions Code

Thanks!!! This is perfect - I'll let her know.

 

[chemteach]

All's well.

She will be sending in her paperwork tomorrow via fax and certified mail.

Thanks Everyone!

 

[chemteach]

She sends a BIG THANKS to everyone who offered advice. She faxed the paperwork last night and sent it certified mail today. She spoke with Marriott and they have the fax from her, so all should be well. She's very glad we happened to run into each other at a birthday party yesterday.

 

[Lawlar]

Celebrate!!!

She sends a BIG THANKS to everyone who offered advice. She faxed the paperwork last night and sent it certified mail today. She spoke with Marriott and they have the fax from her, so all should be well. She's very glad we happened to run into each other at a birthday party yesterday.

I just feel like celebrating the fact that a Marriott salesperson has lost a commission!

Its nice to know that someone was saved from making a BIG mistake.