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Teddy4Ever

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Hi everyone,

I just signed a contract last night time share with HGVC for 23K with 5500 points annually, 7500 bonus points, with MF starting at 1700 yearly. The MFs bothered me the most so I had a change of heart.

Had some buyers remorse last night after signing the timeshare conract and now would like to cancel in less than 16 hours after signing. I do have the contract and it states I have 5 days to cancel (State of Nevada) by certified mail. The contract gave me an address to send it to as well to their rescission team. (Kinda bothered its to Diamond resorts office, but they did explain its still taking time their still transitioning the name entities to HGV, any concern there?)

In regards to cancellation, how deep do I go into the letter? I got the letter written all out, but just want to make sure I don't miss any steps. I included the contract number and stating that I am cancelling within the recession period. i also requested my deposit to be returned in full promptly as well stopping any future additional payments. Is there anything else that I am missing?


Do I need to include anything else with the letter in the mail like any other forms? Just want to double check.

Thank you for all your help
 

ernststarhemberg

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Others can weigh in on the details of the letter. I'd recommend sending the letter certified mail so that there is proof of delivery.

Good call canceling the contract, that is an atrocious MF ratio. Which resort/season was this deed for?
 

HuskerATL

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Sounds like you bought Diamond Resorts/Hilton Vacation Club not HGVC. Just send a certified letter via USPS to the address in the contract with your names, contract number, signing date, collection, and saying that you want to rescind. All buyers need to sign it.
 

Teddy4Ever

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Sounds like you bought Diamond Resorts/Hilton Vacation Club not HGVC. Just send a certified letter via USPS to the address in the contract with your names, contract number, signing date, collection, and saying that you want to rescind. All buyers need to sign it.
Sounds good, thank you! Will do. Can you clarify what do you mean by collection?

Also, do I need to include why I want to cancel or can I leave that out completely?

Thank you!
 

Teddy4Ever

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Others can weigh in on the details of the letter. I'd recommend sending the letter certified mail so that there is proof of delivery.

Good call canceling the contract, that is an atrocious MF ratio. Which resort/season was this deed for?

Others can weigh in on the details of the letter. I'd recommend sending the letter certified mail so that there is proof of delivery.

Good call canceling the contract, that is an atrocious MF ratio. Which resort/season was this deed for?
I think it was a program, not specifically a resort but it was at Cancun Las Vegas.

Besides the letter I made/typed, do I need to include anything else in the envelope?

Thank you for your help!
 

dayooper

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Make sure that everybody (not including and HGV Staff) signs the recession letter that signed the contract. If your spouse signed the contract, make sure they sign the recession letter. Otherwise they might not honor the recession.
 

GT75

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Also, do I need to include why I want to cancel or can I leave that out completely?
Simple letter. There isn't a need to specify why JUST THAT you are canceling. Include contract no. and have all parties sign who signed the original. Send certified mail.

btw, your contract was for HVC, Hilton Vacation Club formerly DRI (Diamond).
 

Teddy4Ever

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Make sure that everybody (not including and HGV Staff) signs the recession letter that signed the contract. If your spouse signed the contract, make sure they sign the recession letter. Otherwise they might not honor the recession.
Got it. Will do! Actually, its for my dad and I, but will get both our signatures in there.

Do I need to get any signatures from anyone else from their end (like quality assurance people, broker, etc?), I only ask because I saw on reddit some saying you need someone from their end to sign the letter too, though I wasnt sure if that was totally correct. Thank you in advance for the calrification
 

TheTimeTraveler

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Sounds good, thank you! Will do. Can you clarify what do you mean by collection?

Also, do I need to include why I want to cancel or can I leave that out completely?

Thank you!


Sample text for rescission letter: "After careful consideration of my actual needs I have decided to exercise my legal right to rescind".

They have no obligation to acknowledge the receipt of your rescission letter but they do have to act on it by law. Allow up to 45 days for your refund.






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GT75

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Teddy4Ever

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Simple letter. There isn't a need to specify why JUST THAT you are canceling. Include contract no. and have all parties sign who signed the original. Send certified mail.

btw, your contract was for HVC, Hilton Vacation Club formerly DRI (Diamond).
Yes, I just realized that now. Sorry, thought process has been all over the place. The only signatures on their was my father and I. we did the contract together yesterday. So those would be the only signatures needed for the letter, correct? My apologies if its a dumb question. Just like to clarify so I don't mess up. Thank you
 

Teddy4Ever

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NOooooooo!
Got it. In the letter I made, I asked for a confirmation/acknowledgement that they received the letter within the recession period. Will they typically mail that out or email it? Or do I need to call for that?
 

TheTimeTraveler

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Got it. In the letter I made, I asked for a confirmation/acknowledgement that they received the letter within the recession period. Will they typically mail that out or email it? Or do I need to call for that?


They WON'T acknowledge receipt.. Read post #10

Send it via USPS Certified Mail and your tracking number will acknowledge delivery to them.......




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Teddy4Ever

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Sample text for rescission letter: "After careful consideration of my actual needs I have decided to exercise my legal right to rescind".

They have no obligation to acknowledge the receipt of your rescission letter but they do have to act on it by law. Allow up to 45 days for your refund.






.
Okay will remember that, thank you! Can you clarify what HuskerATL meant by "collection", i have all the other parts that HuskerATL mentioned, just not that part if you dont mind. Thank you
 

Teddy4Ever

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@HuskerATL will clarify that for you as that is his/her post and I don't want to guess. Sorry.




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No worries. thank you!

Can you clarify the 5 day recession period with the letter being sent by certified mail via USPS. I'm currently flying back home and won't be able to send it til tomorrow morning (12/1). I signed the contract 12/29 so I know I need to send it out before 12/4. As long its certified mail and in USPS possession within the 5 day period, I should be in the clear correct? Even if diamond/HVC receives the letter after the 5 day recession period for some odd reason?

I obviously wont wait til Monday, just asking so I understand the 5 day recession period with the certified mail. thank you!
 

Passepartout

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Yes, I just realized that now. Sorry, thought process has been all over the place. The only signatures on their was my father and I. we did the contract together yesterday. So those would be the only signatures needed for the letter, correct? My apologies if its a dumb question. Just like to clarify so I don't mess up. Thank you
You won't mess up. A simple, plain English letter saying that you do not want to go forward with this sale, and signed by you and whomever else signed the contract will start the wheels of rescission working.

Date the rescission letter as well as reference the contract number and date. Send it USPS Certified mail/returned receipt so you'll know they got it. They are not required to acknowledge the letter, but ARE required to process the rescission. It can take up to 45 days to receive your refund to whatever means you gave to them. Just watch that account for the refund.

Jim
 

HuskerATL

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Sounds good, thank you! Will do. Can you clarify what do you mean by collection?

Also, do I need to include why I want to cancel or can I leave that out completely?

Thank you!
The Diamond/HVC are sold in collections (groups of properties), not a specific property. This contract will say something like US Collection or Hawaii Collection.
 

HuskerATL

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No worries. thank you!

Can you clarify the 5 day recession period with the letter being sent by certified mail via USPS. I'm currently flying back home and won't be able to send it til tomorrow morning (12/1). I signed the contract 12/29 so I know I need to send it out before 12/4. As long its certified mail and in USPS possession within the 5 day period, I should be in the clear correct? Even if diamond/HVC receives the letter after the 5 day recession period for some odd reason?

I obviously wont wait til Monday, just asking so I understand the 5 day recession period with the certified mail. thank you!
The 5 days is from when you send it, not when they receive it. Just make sure to send certified mail.

Btw, good choice. This was very expensive. You can get a much better deed in HGVC for only a few thousand with many more points to use. Come back here an ask more questions if you decide to go that route.
 

Teddy4Ever

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You won't mess up. A simple, plain English letter saying that you do not want to go forward with this sale, and signed by you and whomever else signed the contract will start the wheels of rescission working.

Date the rescission letter as well as reference the contract number and date. Send it USPS Certified mail/returned receipt so you'll know they got it. They are not required to acknowledge the letter, but ARE required to process the rescission. It can take up to 45 days to receive your refund to whatever means you gave to them. Just watch that account for the refund.

Jim
Thanks Jim!

Will do, I appreciate it. Is the letter required to be notarized at all before I send it via USPS certified mail? I'm assuming its okay the letter be typed and then printed with a signature by hand?
 

GT75

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My apologies if its a dumb question. Just like to clarify so I don't mess up. Thank you
NP, the only dumb question is the one which you don’t ask. We have great HGVC TUG members who all want to help.
Will they typically mail that out or email it? Or do I need to call for that?
Typically no but please don’t call. You will probably get transferred to sales. Sales don’t handle rescission, but they will try to save their commission.
 

Teddy4Ever

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The 5 days is from when you send it, not when they receive it. Just make sure to send certified mail.

Btw, good choice. This was very expensive. You can get a much better deed in HGVC for only a few thousand with many more points to use. Come back here an ask more questions if you decide to go that route.
Yes, after realizing the MFs and other potential costs, I been panicking. I hope the process will be smooth sailing once the letter is sent.

Sorry @HuskerATL , just to clarify the 5 days portion again. Since I signed the contract on 12/29. My Day 1 count starts today, 12/30, correct? So I need to have this letter in to USPS certified mail by Monday, 12/4? Is that all correct?

@Passepartout @GT75 if you dont mind chiming in here too in regards to the window period. I do plan to send the letter via USPS certified mail in by tomorrow December 1 or December 2 at the very latest. My concern is if the letter comes after Monday in their possession. I think i read on other forum posts that the official postmark within the required timeframe is what matter mosts and not when they actually receive it. Is that true? Thank you guys so much.
 
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GT75

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TheTimeTraveler

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The only Postmark which counts is the Postmark at the time of mailing. Your letter may not show up for weeks but that won't matter.

Don't over analyze this. Get it ready, sign it, mail it via USPS Certified Mail and retain copies of the Postal Receipt and your rescission paperwork. DONE!





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