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Rescission @ Silverleaf Resort - nervous

TalleyHo

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Argh... I'm so mad at myself for getting suckered into a week I didn't want. My wife seemed so excited and I got caught up in the excitement as well. I'm so mad at myself for being a dope!

That said, I'm writing my rescission letter now. I'm so nervous b/c all the threads say to follow the instructions exactly. And there are numerous examples of a LOT of things to include (ie the 10 things to include in a rescission letter).

However, at Silverleaf, you get an Exhibit A. It simply says that if I decide to cancel this contract I should hand deliver notice of cancellation to the dev or by mailing notice. It doesn't say anything to include. I'm so mad at myself that I *think* I have my bases covered, but I thought I'd get your opinions of if this is enough. My letter below.

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This letter is to inform you that I am exercising my legal right to cancel the contract to purchase [Resort Name], [Unit # / Week] dated November 11, 2012. We expect a full refund of our deposit in the amount of $$. Do not make any additional charges to my credit card regarding this sale. Please confirm receipt of this cancellation in writing or via the email and/or phone number below within 24 hours of receipt. I have already contacted customer service on November 13, 2012 to inform them of my intent to cancel this transaction.

I'm including Exhibit A (that includes these vague instructions), a copy of the loan sheet for down payment reference. Customer service indicated they had copies of everything and I didn't need to include them, but I'd rather be safe than [more] sorry.

Comments and suggestions are GREATLY appreciated. I just want to be able to sleep tonight!

I hope to take advantage of the rentals and such here to augment our vacationing.
 

theo

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A few thoughts and observations...

<snip> Please confirm receipt of this cancellation in writing or via the email and/or phone number below within 24 hours of receipt. I have already contacted customer service on November 13, 2012 to inform them of my intent to cancel this transaction. <snip>
The phone contact with "customer service" regarding your intent to cancel has no legal meaning or significance, but your letter certainly covers the cancellation bases adequately. I hope that you sent it by certified mail in order to be able prove (...if necessary) the actual mailing date. Receipt signature is not necessary --- postmark date is all that really matters in the end.

Although you have made the request, please know that the resort (whatever and wherever it may be) is not legally obligated to provide you with any sort of "confirmation" or "reply", let alone "within 24 hours of receipt". They are obligated only to process your rescission, if submitted within the time parameters of that particular state's applicable laws. That said, you'll probably get phone calls from sales weasels looking to salvage their commission by trying to "sweeten the deal". Don't take their calls and don't engage them in any way.

Good job in dodging an expensive bullet. :clap:
 

Rob&Carol Q

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Drop it in the mail and get a confirmation of mailing from the Post Office. That's all you need...but you do need to get it in the mail ASAP.

These guys are actually pretty good at processing rescission letters. If they weren't, the various State Attorney Offices would be all over them. Remember, these Resort Groups only need few sales to stick and they've made some pretty darn good money.

Now go to ebay at get a true feel for the bullet you are dodging...

Oh, and why worry? You Texans are seceding from the Union anyways if the news is correct!
 

puppymommo

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If you've done as you said in your original post, you will be just fine. I speak from experience, as I have rescinded with Silverleaf twice. :eek: We love our Silverleaf timeshare, it can be a really good mini-system, but not at the bloated developer prices. The real value with Silverleaf is the bonus time, which usually doesn't transfer with resale. So it's kind of a catch-22.

Anyway, relax, it will work out, just don't get too worried if they do not "acknowledge" your letter. Watch for the refund, that is probably all the notice you will get.
 

TalleyHo

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Yea - the bonus time in the presidential units was kind of the thing that made it tempting to say yes... again...

I had all 3 varieties of traceable mail ready. I ended up going USPS priority overnight. I want it there tomorrow, so I can call and make sure it is all good by Friday. In the event I did something stupid [again], I have one more day to make it right.

I'm still just so pissed at myself for saying yes, when the boss and I both agreed walking in the door we weren't happy w/ our current situation, and wanted out! ARGH! :doh::mad:

I realize the other forms of comms have no legal repurcussions, but my hope with the phone number for the confirmation was just that -- even if they call to sweeten the deal (I'm prepared to have my sponsor ready to help me say no!), at least I know they received it.

My first 2013 new year's resolution is - stop doing stupid things, and #2 is refer to #1 when making all decisions.

Thanks for the feedback. It's helped settle the nerves...
 

Rent_Share

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If you call they will try to talk you out of rescinding

Proof of mailing is all you need

Then be patient for the refund
 

theo

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This is good advice --- take it!

If you call they will try to talk you out of rescinding

Proof of mailing is all you need

Then be patient for the refund
Absolutely correct. Do not call. There is no point or possible benefit in doing so --- and any conversation which you initiate (or participate in) can just be conveniently "misunderstood".
Close the door, lock it behind you and stay off the phone!
 

Rent_Share

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Theo & I went to different schools together
 
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