Rescission of a contract signed in Orlando on 6th Jan 2025

[HGV2421]

Asking for help:

I am a Canadian, and I got moved in the moment during a marketing package deal I had landed with HGVC to visit Orlando and signed up for a HGVC ownership contract on 6th Jan. Subseuqenty, experienced buyer's remorse and didn't like the deal after talking to my friends and reading multiple posts on this website. I sent a rescission letter on 8th Jan via USPS certified mail to the address mentioned on the contract.

US Collection
Attn: Rescissions Title Services
1450 Center Crossing Road
Las Vegas, NV 89144

Contract was signed in Orlando, Florida. Is there an address in Florida as well where I may need to send this rescission letter to ?

 

[TUGBrian]

id personally stick with what is spelled out in the contract and simply retain proof it was sent within the time allowed!

congrats on finding TUG, rescinding and saving a fortune! hope you decide to buy resale!

 

[HGV2421]

Received this email confirmation back

“
Dear Member:



We are in receipt of your cancellation request with U. S. Collection. Please accept this email as confirmation and assurance our team will be diligently working to review the rescission terms of your vacation ownership purchase (the “Agreement”) to determine contract cancellation details.



During this period, please allow 7-10 business days to complete the cancellation process. To avoid any delays with the cancellation process, we ask for your cooperation to refrain from submitting disputes to your credit card company or bank. If you are entitled to a refund, a credit will be issued back to the credit card previously tendered or a refund check will be issued based on the method of payment.



Once your contract has been officially cancelled, a confirmation cancellation status letter will be mailed to you.


“

Does that formally mean my cancellation request is approved as it was submitted within rescission period via a certified mail.

Also is there any other further action from my end ?

Thank you Tugbbs

 

[brp]

The wording on this is not reassuring. It really doesn't seem to say that your rescission is in order and being processed, but that they will "review the rescission terms."

Since the timeline they propose would likely take it past the period of further action by you, I might suggest replying to confirm that the rescission information you sent is in order.

Others may have more recent experience with this.

Cheers.

 

[HGV2421]

Rescission terms on the contract said right to cancel were 10 days, I sent a certified mail and retained proof of sending, 2 days after the contract was signed.

All details e.g., contract number, member number, names of signatories, place where it was signed, name of the QAO who signed the contract, date of signing , clear intent and statement on cancelling the contract were mentioned on the contract.


Should I follow up and send another certified mail to them ? I also have their escrow email and direct contact line otherwise to check with on Monday.

 

[Passepartout]

I personally think you are officially done. Rescinded. The 'form' email just says they will check that your request is within the allowable time frame. Once that is determined, they will refund your payment info to the card you gave them.

I suppose there is room for some 'hair splitting', but when they see your timely letter, there isn't anything they can do to hold you. These rescission laws are definitely on the side of the consumer, and the penalties to the developer are so high that they don't dare mess it up.

Jim

 

[HGV2421]

Thank you! That’s assuring.

 

[TheTimeTraveler]

Rescission terms on the contract said right to cancel were 10 days, I sent a certified mail and retained proof of sending, 2 days after the contract was signed.

All details e.g., contract number, member number, names of signatories, place where it was signed, name of the QAO who signed the contract, date of signing , clear intent and statement on cancelling the contract were mentioned on the contract.


Should I follow up and send another certified mail to them ? I also have their escrow email and direct contact line otherwise to check with on Monday.

I don't think you are going to have any issues BUT if it will make you sleep better than do it again. It won't cost a lot of money and you'll feel better!










.

 

[Passepartout]

I wouldn't send another mail just watch your credit card account. They are not obligated to inform you or progress or completion of your rescission, but they ARE required to process it.

 

[jabberwocky]

I don’t like HGVC’s sales tactics or practices, but they are generally a stand-up company and won’t screw around with a request that is clear like this. Congrats on saving a bunch of money!

 

[HGV2421]

As I research resales, have a question: Are resale points locked for use for specific property only, I.e., say a purchase of 8000 points gold for Sea World Orlando, would imply these can only be used every year for 1 Gold week - 2 BR vacation at Sea World Orlando only?, or points can still be used flexibly for any HGV property ?

 

[dayooper]

As I research resales, have a question: Are resale points locked for use for specific property only, I.e., say a purchase of 8000 points gold for Sea World Orlando, would imply these can only be used every year for 1 Gold week - 2 BR vacation at Sea World Orlando only?, or points can still be used flexibly for any HGV property ?

The points can be used at any legacy resort. With the exception of Max, HGVC treats resale deeds just like developer bought deeds. I am all resale at The Flamingo and Boulevard and I may never stay at either resort. I’ve booked Ocean 22 and Ocean Myrtle Beach, Hilton Head, Elara, Chicago, Orlando and Scotland.

 

[HGV2421]

got it!
Many reports have 2BR for 8k points in gold season unless for sale. Does this point matrix hold to perpetuity or points devalue and one can be looking at scenario where 8k points in future will only get you a studio at best if at all

 

[Reddart]

Points don’t devalue per se, but the ways I look at devaluation of a TS deed is annual MF increases, and new resorts that come online seem to have significantly higher point costs for the same size accommodation.

 

[GT75]

Many reports have 2BR for 8k points in gold season unless for sale. Does this point matrix hold to perpetuity or points devalue and one can be looking at scenario where 8k points in future will only get you a studio at best if at all

A 2BR platinum season will have 11,200 pts for the same MF (other than in Florida). Need to look at how long you plan to keep this deed and then how to dump the deed.