Rescinding MVC Points Purchase

[Mbar2]

Hi all,

First of all, so glad I found this site. We purchased 2000 MVC points last week at a presentation. We have decided to rescind that offer and have 10 days to do so.

I will email and send and mail the letter from our document packet by certified mail, but does anyone know if I have to have the rescind letter notarized?

Just want to make sure everything is done correctly.

Thank you in advance.

 

[Fasttr]

No need to notarize it. Just have all parties who signed the agreement also sign the recision letter (i.e. you and spouse if applicable).

 

[jwalk03]

No it does not need to be notarized. It can be scribbled on a napkin in crayon as long as it’s signed and mailed to the proper address prior to the end of the recession period.

congrats on making a very wise decision to rescind! Join Tug and learn all about the ins and outs of timeshare ownership and figure out if it’s truly right for the at your travel and if so BUY RESALE!!

 

[Mbar2]

Thanks for the replies. This looks like a great community!

 

[DeeCee]

My husband and I did just this back in 2017. We went to a presentation, signed for 2000 (or 2200, don't remember) and the next day, in whatever pen or marker I had in the car and a blank piece of torn paper, we wrote that we were rescinding, signed and done. They didn't ask for the book of resorts/points listings back, which was a good thing since we left it in the resort. So, once we realized we still had the book, we sat down and looked at how many nights the points cost would be in most of the places we wanted to go with the points we were looking to buy and realized that it would really only be 5 nights (2 bedroom).

Back then, during the presentation, the sales lady slipped (at least I think it was a slip) and said something about Marriott reselling legacy weeks. Another thing I didn't realize until late that night after we signed. Like, an aha moment. In the morning, I looked it up and at that time Marriott had a resale week webpage. I found the week we wanted in the resort we wanted. The points would have cost somewhere around $29,000 or $30,000 (maybe a few thousand less as I do remember some sort of bonus to buy before we left, there was a "catch" to that but don't remember what). The week was 1/5 of that. We chose to just go directly through Marriott so no hold up, less fees, etc. We probably would have gotten our week for less on the open resale market, but it was quick, easy and we're very very very happy with our purchase. Can't wait to get back there asap.

Good luck with your new purchases everyone! Enjoy every vacation! For us, no regrets. At this point in our lives, we actually like our Marriott week more than our 385 DVC points!

Have a great day!
Dee

 

[Grammarhero]

Hi all,

First of all, so glad I found this site. We purchased 2000 MVC points last week at a presentation. We have decided to rescind that offer and have 10 days to do so.

I will email and send and mail the letter from our document packet by certified mail, but does anyone know if I have to have the rescind letter notarized?

Just want to make sure everything is done correctly.

Thank you in advance.

@Mbar2 We hope your rescission and deposit refund went well. Mind sharing how much you saved with rescission? As half of tuggers initially bought retail/developer TS, there is no shaming.

 

[Mbar2]

@Mbar2 We hope your rescission and deposit refund went well. Mind sharing how much you saved with rescission? As half of tuggers initially bought retail/developer TS, there is no shaming.

Everything has been rescinded. Thanks again for the good advice. Saved me about $21,500.