Sheraton Vacation Club

[myname09]

Hello,

I recently signed up for the Sheraton Vacation Club and within the 10 day cancellation period if I choose to do so. I am confused to go ahead with it or cancel it. I got the rate of $0.42 or so per option as locked a year back. I have paid upfront just FYI. My question is did I get a good rate considering the current rate to be $0.63 per option. What could be my offer if I choose to sell my timeshare completely within a couple of months. Sales person mentioned that they would offer me first and I could choose to take it or sell it outside. Considering the rate I got $0.42 vs the current rate $0.63, can I make money? Also, is it very difficult to rent my timeshare to breakeven the price I paid within a couple of years? Thank you in advance.

 

[dioxide45]

Sheraton Flex has a near $0 resale value. You won't make money on any resale of the points. Rescind while you still can and do more research. There are cheaper options out there and better ways to get in for much less and still have the same benefits.

 

[rickandcindy23]

Definitely rescind and buy a floating week at Marriott or Sheraton. You can get a Marriott for $2,500 or less, deeded, and you can get two trades out of most of them (lockoffs can be split into two units), but the first thing you need to do is rescind.

Nothing developer is worth anywhere near what they are charging. It's not a deal with the resale value is $0.

We recently went to a presentation, and the information was so vague, the woman made us feel like we were buying something valuable, when in fact the number of points she was selling would not get us anything but maybe a few nights.

 

[myname09]

Thank you, I have started with 44,000 points, paid around $18k for it vs the current rate being $29k. Currently, what is the resale value for Sheraton Flex? Where can I find anyone offering the resale? I am a newbie to this and have no knowledge. Appreciate your help.

 

[myname09]

Sheraton Flex has a near $0 resale value. You won't make money on any resale of the points. Rescind while you still can and do more research. There are cheaper options out there and better ways to get in for much less and still have the same benefits.

Thank you, I have started with 44,000 points, paid around $18k for it vs the current rate being $29k. Currently, what is the resale value for Sheraton Flex? Where can I find anyone offering the resale? I am a newbie to this and have no knowledge. Appreciate your help.

 

[myname09]

What??? So there is no resale at all? What makes them sell for such a high price? The sales person lied on several things and I got caught into it. Where can I check my resale value or other owners offers for Sheraton Vacation Club/ Sheraton Flex?

 

[Cornell]

What??? So there is no resale at all? What makes them sell for such a high price? The sales person lied on several things and I got caught into it. Where can I check my resale value or other owners offers for Sheraton Vacation Club/ Sheraton Flex?

Go on Ebay or the TUG classified ads and see what people are selling Sheraton resales for. That will be illuminating.

 

[dioxide45]

Correct. As I indicated in the second post. There is no resale value for Sheraton Flex.

 

[vacationtime1]

Or look here: https://www.redweek.com/timeshare-companies/sheraton-flex/points-for-sale

176700 Sheraton Flex points offered for $999 -- and that's overpriced.

 

[TUGBrian]

grats on finding TUG in time to save thousands!

 

[kozykritter]

If you are looking for a real estate investment that has a strong profit potential, you are better off looking outside the timeshare market. The value of your Sheraton Flex purchase will come solely from its use by you as it has no resale value. If you can see yourself using it for years and years to come, then hang on to it. If you think you may tire of it after a short period of time, then you might be better off buying a resale Sheraton Flex now instead if the nine properties in Sheraton Flex are where you want to stay (you'd be limited to booking just those with a resale)...mainly it will only cost you all the closing fees related to the purchase. If your goal is to also be able to book other Vistana properties while still buying resale, then you will want to buy one of a small handful of resales that have StarOptions when transferred to you...those are called mandatory resorts and others I'm sure will tell you more.

 

[rickandcindy23]

I am surprised Sheraton is selling Flex. It was always a bad program. Westin salespeople on Maui didn't even talk about converting our deeded Sheratons to Flex this time. They did talk about it 3 years ago.

I think some people find value in Flex, but since there is no resale value, you really need to step back and rescind. Do not delay.

 

[Red elephant]

I am surprised Sheraton is selling Flex. It was always a bad program. Westin salespeople on Maui didn't even talk about converting our deeded Sheratons to Flex this time. They did talk about it 3 years ago.

I think some people find value in Flex, but since there is no resale value, you really need to step back and rescind. Do not delay.

SVV tried to convert are weeks to Sheraton flex claiming it would save us MF in the long term.

 

[myname09]

I am surprised Sheraton is selling Flex. It was always a bad program. Westin salespeople on Maui didn't even talk about converting our deeded Sheratons to Flex this time. They did talk about it 3 years ago.

I think some people find value in Flex, but since there is no resale value, you really need to step back and rescind. Do not delay.

I had my first presentation a couple of years back so I got that locked up price and maybe Flex. What should I mention in the Rescission Letter and what else should I mail back along with the letter? I got some folder from Abound and paperwork. Should I mail those back as well?

 

[rickandcindy23]

I had my first presentation a couple of years back so I got that locked up price and maybe Flex. What should I mention in the Rescission Letter and what else should I mail back along with the letter? I got some folder from Abound and paperwork. Should I mail those back as well?

I wouldn't mail anything back, except the letter, which I would make short and sweet, like:

Upon further consideration, and seeing the resale value of Flex points, I am rescinding my purchase.

Send it via mail, return receipt (certified) or grab a priority mail envelope. You need to look through your paperwork for the address to send the rescission. Do it quickly. No point in waiting.

 

[myname09]

I wouldn't mail anything back, except the letter, which I would make short and sweet, like:

Upon further consideration, and seeing the resale value of Flex points, I am rescinding my purchase.

Send it via mail, return receipt (certified) or grab a priority mail envelope. You need to look through your paperwork for the address to send the rescission. Do it quickly. No point in waiting.

Thank you. They gave the option to send the cancellation letter via mail to Sheraton... or email or fax. They also have stated "Any attempt to obtain a waiver of your cancellation right is void and of no effect. While you may execute all closing documents in advance, the Closing, as evidenced by delivery of the deed or other document, before, expiration of your 10-day cancellation period, is prohibited." What does it means legally? Appreciate your help.

 

[rickandcindy23]

It means you cannot waive your right to rescind, which is good. It also means that the deed cannot be delivered to you (as a done deal) before the cancellation period is over. Also good. You are golden. Do it right away, and of course a fax is really not as good as mailing a rescind letter via Priority Mail in one of those envelopes, which are tracked, or a certified mail letter, which needs to be signed by Sheraton for acceptance. Both of those are the best ways to rescind because they are proof that you sent the rescind letter.

 

[myname09]

It means you cannot waive your right to rescind, which is good. It also means that the deed cannot be delivered to you (as a done deal) before the cancellation period is over. Also good. You are golden. Do it right away, and of course a fax is really not as good as mailing a rescind letter via Priority Mail in one of those envelopes, which are tracked, or a certified mail letter, which needs to be signed by Sheraton for acceptance. Both of those are the best ways to rescind because they are proof that you sent the rescind letter.

I plan to mail the letter using USPS certified mail or registered mail service. Any preference in USPS, FedEx or UPS?

 

[rickandcindy23]

I plan to mail the letter using USPS certified mail or registered mail service. Any preference in USPS, FedEx or UPS?

I would only use mail. Believe it or not, I still have the return receipt from 2008 in my file, just in case. That's overkill for sure. But do keep the receipt for a few months as proof that you sent the rescission.

 

[myname09]

I would only use mail. Believe it or not, I still have the return receipt from 2008 in my file, just in case. That's overkill for sure. But do keep the receipt for a few months as proof that you sent the rescission.

Is this a good format for the letter?

Rescission Letter Sample

Today’s Date :

Purchaser Names :

Address

City, State, Zip

Phone

Email

Timeshare Developer

Address

City, State, Zip

Phone

Email

To whom it may concern,

The purpose of this letter is to request the immediate cancellation of my timeshare contract. My name is (state your name), and I purchased a timeshare with (enter the timeshare developer) on (enter purchase date). I’ve decided to use my right to rescind my contract and will contact you within the rescission period.

Timeshare:

Owner:

Contract Number:

Date of Purchase:

Please provide me with a written confirmation that you have received this request. In addition, please provide me with a written confirmation of when I will receive my deposit.

Sincerely,

Your Name

 

[rickandcindy23]

Sure. You don't need to say much because the return receipt or proof that the letter was received, if priority mail, that's proof enough.

Definitely stick around TUG and figure out what you want to get free or nearly free to exchange in Interval International. I do not recommend RCI at all. It's just not my favorite exchange company. II is so much better.

 

[dioxide45]

If email or fax is an option, then use that. It is instant and they usually reply to the emails. I would also suggest a second delivery method via USPS. It can be a regular First Class Mail (forever stamp), but ask for form PS Form 3817 at the post office. This provides postmarked proof that you sent something from an address to an address and the USPS will stamp it with the dated postmark of when you give it to them. It is only an extra $1.95 on top of the cost of postage. You must do this at the post office. So it is a cheap backup option.

 

[dioxide45]

I would actually avoid buying Sheraton Flex resale. The reason being is that you can't use the HomeOptions at Westin properties nor Harborside at Atlantis. You are probably better to look into buying a Mandatory Resale. For less than what they were charging you to buy the 44,000 Sheraton Flex, you could instead buy a Westin Kierland Villas Platinum Plus week that comes with 148,100 StarOptions. Yes, the maintenance fees will be more, but you are getting a lot more points to work with.

 

[jwalk03]

The letter can be as simple as:

I/We wish to rescind contract #XXX.

Signed,
Everyone who signed the contract.

Mail it to the address specified in your recession instructions and keep proof you mailed it prior to the deadline.

 

[rickandcindy23]

I would actually avoid buying Sheraton Flex resale. The reason being is that you can't use the HomeOptions at Westin properties nor Harborside at Atlantis. You are probably better to look into buying a Mandatory Resale. For less than what they were charging you to buy the 44,000 Sheraton Flex, you could instead buy a Westin Kierland Villas Platinum Plus week that comes with 148,100 StarOptions. Yes, the maintenance fees will be more, but you are getting a lot more points to work with.

Yes, I agree with Jeremy. Do not buy resale flex points. I think the Westin Kierland Platinum would be a great purchase for you, if you have the cash on hand to buy something. If you were financing, then save your money for Westin Kierland mandatory platinum season, OR buy a Sheraton gold plus week. Sheraton Desert Oasis and Sheraton Broadway Plantation are great options.

I would love to be in your position right now: 1. open to timeshare, 2. So much variety and lots of option for low prices, and 3. being able to rescind an overpriced purchase.