Sheraton Flex

[Ajax57]

I got pulled into one of the Sheraton "presentations" while staying with them for a week. I went in without any knowledge of what it was and then got the pitch how they are so different from any timeshare and about paying one amount and being able to stay in Starwood hotels any one week every year. I was convinced just hearing that since this was my first experience with anything like this and being able to get a life-long benefit for one amount seemed very good. They even offered to cover 10% of the amount if I agreed right there, so I chose the lowest plan and initiated the paper work. While they were away putting everything together I started searching online and found this forum, thank god I learnt what exactly is timeshare and flex reading multiple threads on this site.

The paperwork they left me to read when they went to call their director for final approval said I will still be paying ~ 800$ HOA every year even after paying off the ~12,000$ (lowest option). Someone on this forum said with 800$ you can buy more than the 40,000 points/year that they are offering and only then I understood that without mentioning this 800/yr value is how they are getting everyone.

I greatly appreciate owners of this group and all users who actively contribute to save gullible people. I backed out and cancelled when the director came for my final signature and should have seen the look on their faces. There were so many more people signing up without taking time to research.

Thank you again

 

[carpie99]

good job

 

[KACTravels]

Way to go! Do your research and you might find a resale option IF your finances and lifestyle are right for timesharing.

 

[taffy19]

I got pulled into one of the Sheraton "presentations" while staying with them for a week. I went in without any knowledge of what it was and then got the pitch how they are so different from any timeshare and about paying one amount and being able to stay in Starwood hotels any one week every year. I was convinced just hearing that since this was my first experience with anything like this and being able to get a life-long benefit for one amount seemed very good. They even offered to cover 10% of the amount if I agreed right there, so I chose the lowest plan and initiated the paper work. While they were away putting everything together I started searching online and found this forum, thank god I learnt what exactly is timeshare and flex reading multiple threads on this site.

The paperwork they left me to read when they went to call their director for final approval said I will still be paying ~ 800$ HOA every year even after paying off the ~12,000$ (lowest option). Someone on this forum said with 800$ you can buy more than the 40,000 points/year that they are offering and only then I understood that without mentioning this 800/yr value is how they are getting everyone.

I greatly appreciate owners of this group and all users who actively contribute to save gullible people. I backed out and cancelled when the director came for my final signature and should have seen the look on their faces. There were so many more people signing up without taking time to research.

Thank you again

Good for you that you did your research and did not go through with that deal.

In what State or Country was this presentation?

 

[Ajax57]

Good for you that you did your research and did not go through with that deal.

In what State or Country was this presentation?

Orlando, FL. Vistana Resorts

 

[taffy19]

Thank you. Did they never mention to you that there is a yearly charge of approximately $800.00 and it wasn’t mentioned on the fact sheet either that you had to initial?

If that is the case, I feel for all the people that sign up for this deal and not realize that there will be yearly charges after the initial fee is paid off.

I wonder if you missed hearing this or if it was skipped over conveniently by the salesman and only the people who read the fact sheet carefully will pick it up and question it further.

You are so lucky that you found TUG!

 

[Ajax57]

Thank you. Did they never mention to you that there is a yearly charge of approximately $800.00 and it wasn’t mentioned on the fact sheet either that you had to initial?

If that is the case, I feel for all the people that sign up for this deal and not realize that there will be yearly charges after the initial fee is paid off.

I wonder if you missed hearing this or if it was skipped over conveniently by the salesman and only the people who read the fact sheet carefully will pick it up and question it further.

You are so lucky that you found TUG!

They did mention during the initial conversation that I will have to pay HOA fees but did not mention the actual amount. Only when i was given the document to sign initials was a line showing the exact amount and peaked my interest as even houses in some of the good communities I know dont charge more than 500$ for HOA.

 

[Indyboogiedog]

Glad I found this forum as well... unfortunately, a little too late but not too late to rescind. Purchased 25,800 points for roughly $9000 with annual VOI of $392. After reading the fine print and how many points required to book somewhere, looks like this measly amount of points won't get me a broom closet. Am I correct to reverse course and rescind?

 

[Scuba Fletch]

I got pulled into one of the Sheraton "presentations" while staying with them for a week. I went in without any knowledge of what it was and then got the pitch how they are so different from any timeshare and about paying one amount and being able to stay in Starwood hotels any one week every year. I was convinced just hearing that since this was my first experience with anything like this and being able to get a life-long benefit for one amount seemed very good. They even offered to cover 10% of the amount if I agreed right there, so I chose the lowest plan and initiated the paper work. While they were away putting everything together I started searching online and found this forum, thank god I learnt what exactly is timeshare and flex reading multiple threads on this site.

The paperwork they left me to read when they went to call their director for final approval said I will still be paying ~ 800$ HOA every year even after paying off the ~12,000$ (lowest option). Someone on this forum said with 800$ you can buy more than the 40,000 points/year that they are offering and only then I understood that without mentioning this 800/yr value is how they are getting everyone.

I greatly appreciate owners of this group and all users who actively contribute to save gullible people. I backed out and cancelled when the director came for my final signature and should have seen the look on their faces. There were so many more people signing up without taking time to research.

Thank you again

I just posted a question about this - as I'm a seasoned timeshare owner, buying on resale market mostly. I am advising a friend that is within her 10 day period to cancel - and I'm researching this timeshare option. Trying to understand, but overall, without looking at her contract, I always tell people to cancel, and not pay the developer price... period!

 

[VacationForever]

They did mention during the initial conversation that I will have to pay HOA fees but did not mention the actual amount. Only when i was given the document to sign initials was a line showing the exact amount and peaked my interest as even houses in some of the good communities I know dont charge more than 500$ for HOA.

The MF includes housekeeping, furnishings replacements on a 5 year cycle, any refurbishments, insurance, utilities, property tax... MF should not be compared with a homeowner's HOA.

We pay about $8000 per year in MF for several timeshare and averages to about $1.5K for each week.

 

[KACTravels]

Glad I found this forum as well... unfortunately, a little too late but not too late to rescind. Purchased 25,800 points for roughly $9000 with annual VOI of $392. After reading the fine print and how many points required to book somewhere, looks like this measly amount of points won't get me a broom closet. Am I correct to reverse course and rescind?

The thought here will be RECIND, Research, Resale. It is best if you recind now while you can and after you research and understand your finances / goals (without pressure) and IF timesharing is right for you - then carefully with full knowledge buy resale at pennies on the dollar or even free. I love timesharing, but wish I had found this forum before we bought our first one. RECIND NOW and come back here to educate yourself further. And, yes 25,800 won’t get you anything during a decent season at a nicer resort. Good luck

 

[vacationtime1]

Glad I found this forum as well... unfortunately, a little too late but not too late to rescind. Purchased 25,800 points for roughly $9000 with annual VOI of $392. After reading the fine print and how many points required to book somewhere, looks like this measly amount of points won't get me a broom closet. Am I correct to reverse course and rescind?

I agree with KACTravels. Rescind.

25800 will get you little. Fortunately, you can buy more points for much less money. That is the supply/demand balance on the resale market.

But first, get your rescission done -- per the instructions you received as part of the purchase package. Only then should you start researching more optimal possibilities.

 

[taffy19]

They did mention during the initial conversation that I will have to pay HOA fees but did not mention the actual amount. Only when i was given the document to sign initials was a line showing the exact amount and peaked my interest as even houses in some of the good communities I know dont charge more than 500$ for HOA.

Glad for you that you got from under and can research more if you really want to belong to one of these programs.

The longer you wait, the more will come back on the re-sale market and if the perks, you like are still there, you have saved yourself a bundle.

They are in the middle of a merger too so everything may change again.