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Rescinding

pat in colorado said:
thanks! Got the rescind letter ready. But we're still curious about what the salesman said......that Starwood has first right of refusal and will outbid most everything in the resale market. Was that just BS?
Click to expand...

Many people misunderstand what "right of first refusal" means.

Think about it a minute... they have the right to accept or refuse whatever contract you go to the expense and trouble to obtain from a willing buyer on the resale market.

ROFR does not mean they will "bid" on your resale. It means that after you go to all the trouble of finding a buyer, they can take it from that buyer before it can close. This does nothing to improve the resale value of the timeshare or the price you might be able to get for a resale. All it does is frustrate a potential buyer you may have found (after paying for advertising) and tie up the closing process while you wait for the developer to decide if they want it or not.

I'm so glad you had time to rescind. It sounds like you got rushed into a really bad decision. Think about it. Is there any other thing in your life that you would spend that much money on without giving it more thought and planning? Now you can take some time to make a wiser decision and I think you will really be glad you did.
 
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