• 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 30 years!

    Join Tens of Thousands of other Owners just like you here to get any and all Timeshare questions answered 24 hours a day!
  • TUG started 30 years ago in October 1993 as a group of regular Timeshare owners just like you!

    Read about our 30th anniversary: Happy 30th Birthday TUG!
  • TUG has a YouTube Channel to produce weekly short informative videos on popular Timeshare topics!

    Free memberships for every 50 subscribers!

    Visit TUG on Youtube!
  • TUG has now saved timeshare owners more than $21,000,000 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 $21 Million dollars
  • Sign up to get the TUG Newsletter for free!

    60,000+ subscribing owners! A weekly recap of the best Timeshare resort reviews and the most popular topics discussed by owners!
  • 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!

    All T-shirt options here!
  • A few of the most common links here on the forums for newbies and guests!

Rescind or keep?

Buzzerbaby

newbie
Joined
Apr 10, 2022
Messages
7
Reaction score
13
Points
3
OK, I know this has been discussed numerous times and my brain hurts just going through previous posts to see if it lines up with my current situation. We were at Big Cedar through Bluegreen and bought a silver membership, 20k annual points for 37k. We have until tomorrow to rescind. We do quite a bit of traveling, approximately 10 weeks a year and thought this would be a great way to do it because they basically told us it was no problem to get into anywhere we wanted to go since we would be silver members. After reading horror stories we are starting to question that. We put a 20% down payment and we’re planning to pay the rest off this week so then all we would have as maintenance fees. I’m torn because it seems like we will be able to travel quite a bit and only have maintenance fees but I’m worried we would not be able to go where we wanted to go and when we wanted to go. Any advice from the professionals out there? And thank you for this community, it seems like a wealth of information here.
 

TheTimeTraveler

TUG Member
Joined
Jan 23, 2008
Messages
5,952
Reaction score
2,857
Points
648
Location
Florida
RESCIND IMMEDIATELY. You can buy again from the Developer at anytime you want.

As @Passepartout says you should research the resale market and save yourself an awful lot of money! Protect your assets and save your money.

Welcome to TUG. Do consider becoming a member.



.
 

vacationtime1

TUG Review Crew: Veteran
TUG Member
Joined
Sep 7, 2006
Messages
5,159
Reaction score
2,750
Points
649
Location
San Francisco
Resorts Owned
WKORV-OF (Maui)
WKV x2 (Scottsdale)
This is an easy call -- rescind. You can buy this on the secondary market for pennies on the dollar.

Follow the rescission instructions exactly: everyone who singed the contract must sign the rescission letter, use the method of delivery specified (but send it a second time by a method that creates proof of delivery), send to the correct address (almost certainly not the sales office), and stay away from the sales office. They are commissioned-based and will say anything to talk you out of your decision.
 

callwill

TUG Member
Joined
Jan 8, 2017
Messages
706
Reaction score
415
Points
174
Location
Western NYS
Rescind and buy resale...Dont buy/pay extra for hype and lies. "they basically told us it was no problem to get into anywhere we wanted to go". Sure....it just may not be when you hoped or planned for....
and on the other hand, when you ask for a week when you want to go somewhere, it will likely be in a location you dont care to go to.
 

Buzzerbaby

newbie
Joined
Apr 10, 2022
Messages
7
Reaction score
13
Points
3
RESCIND IMMEDIATELY. You can buy again from the Developer at anytime you want.

As @Passepartout says you should research the resale market and save yourself an awful lot of money! Protect your assets and save your money.

Welcome to TUG. Do consider becoming a member.



.
I just joined, best $15 I’ve spent in awhile. Now to figure out how to use timeshares to our advantage. We usually Airbnb it but I do enjoy the resorts. Looking forward to learning all I can here.
 

Buzzerbaby

newbie
Joined
Apr 10, 2022
Messages
7
Reaction score
13
Points
3
This is an easy call -- rescind. You can buy this on the secondary market for pennies on the dollar.

Follow the rescission instructions exactly: everyone who singed the contract must sign the rescission letter, use the method of delivery specified (but send it a second time by a method that creates proof of delivery), send to the correct address (almost certainly not the sales office), and stay away from the sales office. They are commissioned-based and will say anything to talk you out of your decision.
We are sending out a certified letter to the address they provided to cancel/rescind. Thanks for all the advice.
 

callwill

TUG Member
Joined
Jan 8, 2017
Messages
706
Reaction score
415
Points
174
Location
Western NYS
We are sending out a certified letter to the address they provided to cancel/rescind. Thanks for all the advice.
Did they require that you send anything else back with the rescission letter? If tohry did, i hope you included it...
 

vacationtime1

TUG Review Crew: Veteran
TUG Member
Joined
Sep 7, 2006
Messages
5,159
Reaction score
2,750
Points
649
Location
San Francisco
Resorts Owned
WKORV-OF (Maui)
WKV x2 (Scottsdale)
Did they require that you send anything else back with the rescission letter? If tohry did, i hope you included it...
If it's bulky, it is typically sent separately or returned to the sales office (if the latter, ask a third party to return it for you so you don't get re-engaged with the sales staff).
 

Buzzerbaby

newbie
Joined
Apr 10, 2022
Messages
7
Reaction score
13
Points
3
Did they require that you send anything else back with the rescission letter? If tohry did, i hope you included it...
Not exactly… further in the paperwork it says we could be charged up to $75 for marketing items not returned. We did put in our letter that those items were being returned separately.
 

jwalk03

TUG Review Crew: Expert
TUG Member
Joined
May 3, 2016
Messages
3,486
Reaction score
2,584
Points
348
Location
Ohio
RESCIND! and then spend some time trying to figure out what timeshare system may or may not work for you. I bought a Westgate in 2016, then found TUG and rescinded in time!! But since they I have absolutely fellen in love with staying in timeshares- SOOOO much better than hotels when traveling with my family!! I own multiple Marriott weeks now- all purchased RESALE, and I got my in-laws a bunch of Wyndham points so we stay in those two systems the most and definitely love it! Don't be in a rush, after you rescind spend the time to figure out the truths and what will work best for you.
 

Wingo99

Guest
Joined
Mar 3, 2021
Messages
88
Reaction score
104
Points
43
Congrats on saving a lot of cash. When I rescinded Bluegreen I sent back the cruise vouchers and certificates. I never did send back the books or tote bag though and never was charged for them. I ended up giving those things to a person here on TUG for cost of postage, as Bluegreen wouldn't give them anything as they purchased resale.
Out of that whole mess I kept a Blugreen pen I keep with my checkbook to remind me to make better and more thought out decisions.
 

WManning

Guest
Joined
Mar 10, 2022
Messages
500
Reaction score
280
Points
73
OK, I know this has been discussed numerous times and my brain hurts just going through previous posts to see if it lines up with my current situation. We were at Big Cedar through Bluegreen and bought a silver membership, 20k annual points for 37k. We have until tomorrow to rescind. We do quite a bit of traveling, approximately 10 weeks a year and thought this would be a great way to do it because they basically told us it was no problem to get into anywhere we wanted to go since we would be silver members. After reading horror stories we are starting to question that. We put a 20% down payment and we’re planning to pay the rest off this week so then all we would have as maintenance fees. I’m torn because it seems like we will be able to travel quite a bit and only have maintenance fees but I’m worried we would not be able to go where we wanted to go and when we wanted to go. Any advice from the professionals out there? And thank you for this community, it seems like a wealth of information here.
@Grammarhero
 

PDX Matthew

TUG Member
Joined
May 30, 2018
Messages
34
Reaction score
24
Points
118
Congratulations on rescinding. We’re currently at MVC in HNL, they tried to entice us into attending a time share presentation for some “freebies” with a nominal value of $130 - sorry my vacation time is worth a lot more to me than $130 /hour, assuming they only took one hour of our time. Also, the resales currently available at this resort are probably $0.25/$1.00 compared to the developer price. They only left one voicemail, so it’s a kinda low key push compared to some places we’ve stayed.
 

silentg

TUG Review Crew: Expert
TUG Member
Joined
Jul 17, 2005
Messages
6,185
Reaction score
3,260
Points
649
Location
Central Florida
Resorts Owned
Fitzpatrick's Castle Holiday Homes,
Enchanted Isle.
Recind and buy resale or rent to see if timeshares are what you want.
 

HitchHiker71

Moderator
Joined
Jun 29, 2018
Messages
4,169
Reaction score
3,693
Points
549
Location
The First State
Resorts Owned
Outer Banks Beach Club I (PIC Plus)
Colonies at Williamsburg (PIC Plus)
CWA VIP Gold (718k EY)
National Harbor Resale (689k)
Thanks for all your help. We sent in our rescind letter on April 11, they signed for the letter on the 14th and today our account was credited for the full deposit amount!

Congrats on your rescission! How feel free to research timeshares on your own timetable to figure out how best to move forward. Here's a couple links to articles on how to evaluate whether timesharing is a good fit for your vacationing style. While the site is dedicated to Wyndham - the concepts discussed are really universal to timesharing:

Is Timesharing Right For Me? https://wyndhamexperts.org/index.php/2019/10/18/is-timesharing-right-for-me/
Did I Do the Right Thing? http://wyndhamexperts.org/index.php/2019/07/27/did-i-do-the-right-thing/
I Did the Wrong Thing, What Do I Do Now? http://wyndhamexperts.org/index.php/2019/10/10/i-did-the-wrong-thing-what-do-i-do-now/

I'd also recommend reading through the Stickies in this forum section as they contain links to a lot of very valuable content to review for those new to timesharing. Happy hunting and feel free to ask questions in the appropriate forums as you go! :cool:
 
Top