Rescinding new purchase tomorrow, need advice

[Sunshine Waves]

I made a HGVC purchase today and I am regretting it. I will rescind tomorrow. I have the form. I would like to go straight to the person who completed the transaction and ask that it be rescinded, provide the paperwork and keep personal copies of course. I don't see a clear address that the letter should go to anyway. I can handle myself with the conversation and will not back down, but would welcome any guidance or advice. Also, what can I ask for for proof that the arrangement is cancelled? Thank you!

 

[Grammarhero]

Best thing is to send certified mail (possibly return receipt requested) to the rescission address. How much was the TS? What state was it purchased in? The state it was purchased in will determine the rescission period.

 

[Grammarhero]

@Karen G @Passepartout new HGVC needs rescission address. I tried looking in HGVC forum but couldn’t find. Any advice?

 

[Aurelius]

You need to follow the recision instructions precisely as outlined in the contract. They could decline to honor your recision if you don’t. For example if it says sent certified mail, and you hand deliver, email, fax, or send FedEx, your recision may not be honored.

Always follow the instruction in the agreement. If you want to hand deliver a copy for peace of mind, go for it; but they could claim you made a verbal agreement not to rescind or flat out lie to keep the sale. Best to just send it and wait your 45 days.

 

[Sunshine Waves]

Thank you. Purchased in CA, the paperwork says 10 days but I just want this done now while I'm still here. I won't be able to sleep well until I know this is resolved. I paid $15,000 for 2,500 pts a year, studio Gold. Got an extra 5K points to use in 2 years and pay $1150-ish in maintenance costs per year. I cannot believe I was so convinced this was a good option. I have huge buyer's remorse and I need some assurance that this cancellation is done once I turn in the paperwork. I will sent cert. mail, but additionally I would like to go straight to the guy who did the lending paperwork or ask for the correct person who can cancel this today. Andy guidance will be very helpful. Thank you!

 

[Passepartout]

I made a HGVC purchase today and I am regretting it. I will rescind tomorrow. I have the form. I would like to go straight to the person who completed the transaction and ask that it be rescinded, provide the paperwork and keep personal copies of course. I don't see a clear address that the letter should go to anyway. I can handle myself with the conversation and will not back down, but would welcome any guidance or advice. Also, what can I ask for for proof that the arrangement is cancelled? Thank you!

You may THINK that's what you want to do, but REALLY, they have a process in place to complete the rescission. Use the provided form, and send it to the address in your contract. DO NOT send it to the sales office where you purchased. They WILL NOT perform the rescission, and it will only delay the process. When they receive your tiely rescission letter, they are bound by STATE LAW to process it, but unfortunately they are not obligated to inform you of the progress, or even the receipt of your letter. It's for this reason that we ecommend mailing it by USPS Certified with returned receipt. You will get a receipt showing when it was delivered (for your peace of mind) and the name of whoever picked it up.

Good Luck, and Welcome to TUG!

Jim

 

[CPNY]

Thank you. Purchased in CA, the paperwork says 10 days but I just want this done now while I'm still here. I won't be able to sleep well until I know this is resolved. I paid $15,000 for 2,500 pts a year, studio Gold. Got an extra 5K points to use in 2 years and pay $1150-ish in maintenance costs per year. I cannot believe I was so convinced this was a good option. I have huge buyer's remorse and I need some assurance that this cancellation is done once I turn in the paperwork. I will sent cert. mail, but additionally I would like to go straight to the guy who did the lending paperwork or ask for the correct person who can cancel this today. Andy guidance will be very helpful. Thank you!

Correct paying full price wasn’t a good idea, but buying wasn’t such a bad idea. Remember, owning a timeshare isn’t a bad thing, paying full price is. Buy resale and your trips will feel that much better

 

[Karen G]

I agree with the others who've posted above. Mail your rescission letter to the address listed in your paperwork. Be sure everyone who signed the purchase agreement also signs the rescission letter. Send it by certified mail. Keep the receipt from the post office along with a copy of your letter. You will then have done everything you need to do to rescind your purchase. Then just relax and patiently wait for your refund! They are required by law to refund your money.

 

[TheTimeTraveler]

I made a HGVC purchase today and I am regretting it. I will rescind tomorrow. I have the form. I would like to go straight to the person who completed the transaction and ask that it be rescinded, provide the paperwork and keep personal copies of course. I don't see a clear address that the letter should go to anyway. I can handle myself with the conversation and will not back down, but would welcome any guidance or advice. Also, what can I ask for for proof that the arrangement is cancelled? Thank you!

Follow Karen G. advice and you will be just fine!

Glad you are rescinding in time. It may take 45 days before you receive a refund.

Keep us posted.





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[Sunshine Waves]

I have looked through all of the paperwork and it does not specify where the rescission letter must be mailed. I hand delivered it, the lady seemed super legitimate, she stamped received with the date, signed it, and wrote her name and contact number on it. I asked if there is any other paperwork they provide and she said no. She said there was no need to mail a copy as well and that I should have my refund processed next Thursday. I still am mailing the letter certified, return receipt, but I'm worried about the address to send it to because I cannot find specific instructions on where the send the letter.
Thanks to all for the feedback.

 

[Karen G]

I still am mailing the letter certified, return receipt, but I'm worried about the address to send it to because I cannot find specific instructions on where the send the letter.

Can you ask the lady you talked to what the correct address is?

 

[Sunshine Waves]

Can you ask the lady you talked to what the correct address is?

Yes, I did. She said there was no need to mail it since I was providing it directly to her. I asked if the address was in the packet and she said I didn't need it because she was going to process it for me. So, she basically didn't give me the address. She seemed like she just really didn't understand why I would mail it since I'm turning it in directly, but this forum has me a little concerned that I need to mail as directed to ensure the cancellation takes effect. There is no address or mention in the sales contract, but there is an address on the paper they included that allows cancellation, so I'm just going to send it to that address certified mail today.

 

[Giltar5026]

Made a purchase on 8/17/19 with Hilton Grand Vacations for 3,400 points every other year at a price of $15,920, Gold Season and floating unit week number 23. The maintenance fees were going to be right under $1,000. Both my wife and I did not sleep well the next night, even though we were excited after we purchased the timeshare.

That same evening, I started researching what the second hand market was for timeshares and I found out that there are a lot of people that want to get rid of theirs.

I am glad to say that as of this afternoon, I have sent in the rescission letter and I should no longer be the owner of this particular timeshare.

 

[Grammarhero]

Made a purchase on 8/17/19 with Hilton Grand Vacations for 3,400 points every other year at a price of $15,920, Gold Season and floating unit week number 23. The maintenance fees were going to be right under $1,000. Both my wife and I did not sleep well the next night, even though we were excited after we purchased the timeshare.

That same evening, I started researching what the second hand market was for timeshares and I found out that there are a lot of people that want to get rid of theirs.

I am glad to say that as of this afternoon, I have sent in the rescission letter and I should no longer be the owner of this particular timeshare.

Make sure you and your wife both sign the rescission letter.

 

[DeniseM]

Good job! Just so you know, we call the "second hand market," the "resale market."

That same evening, I started researching what the second hand market was for timeshares and I found out that there are a lot of people that want to get rid of theirs.

 

[rickandcindy23]

Good job! Just so you know, we call the "second hand market," the "resale market."

Because as our friend Alan Cole always says, all timeshares are used, used, used.

Definitely rescind, anyone looking at this thread. Resale Hilton is so much less, and you really don't get benefits developer that you don't get resale. That is my understanding, but I don't own Hilton. I just know that sellingtimeshares.net has a lot of Hilton contract you could buy for a whole lot less.

 

[Giltar5026]

Make sure you and your wife both sign the rescission letter.

Yep, since we were both on the contract, we made sure that we both signed the letter.

 

[Giltar5026]

Good job! Just so you know, we call the "second hand market," the "resale market."

Good to know the proper terminology.

 

[Giltar5026]

Wanted to let everyone know that I received a letter from Hilton Grand Vacations acknowledging our rescission letter and the cancellation of our timeshare agreement. The credit has also been processed on our credit card.

 

[Grammarhero]

Wanted to let everyone know that I received a letter from Hilton Grand Vacations acknowledging our rescission letter and the cancellation of our timeshare agreement. The credit has also been processed on our credit card.

Congrats. You can go out and celebrate. We are not against buying timeshares. Heck, I have five (5) timeshares, but we mainly buy resale.