First, an update. Diamond got my rescission letter and I just got off an hour long call with them trying to talk me out of rescinding. A couple points that he made:
- Unlike what the salesman in Florida told me, you can't just pay $3K to get into THE Club if you buy resale. He said to get into the THE Club after purchasing from resale, you have to buy 50% more points at the normal retail price.
- I mentioned that I didn't want to potentially saddle my heirs with the maintenance fees, and he claimed that as long as I don't list it in my will or trust that wouldn't happen. That seems to be contrary to some of the stories I've read, but maybe in those cases it was actually willed to them?
Yeah, and that was his strongest pitch (and the reason why I initially decided to do the Diamond deal). He said I'm not really going to be able to get rid of the MGV, so why keep paying MFs on it when I can change to Diamond and actually start making use of it.
On the flipside he didn't really have an answer for my question about what happens if in 10 years, for whatever reason, I can no longer make use of my timeshare? Since he made the resale market sound so unattractive (you have to buy an additional 50% of points at retail to get into THE Club, and he made compelling arguments of why you really want/need THE Club) how would I get out of paying those yearly MFs? His only answer was "If you don't care about your credit rating you can just default." And I said, "Yeah, but I *do* care about my credit rating!" To which he didn't really have an answer.
While I didn't specifically ask him about this, a comment he made may potentially shed light on this. He said that what I currently own is only at Riviera Shores Resort and I don't have access to the other MGV properties.