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Time is of the essence, we are at day 3 of 5 before rescinding, PLEASE HELP

MonicaPEL

newbie
Joined
Apr 13, 2021
Messages
2
Reaction score
1
Resorts Owned
Hilton Inn Club Vacations
We purchased Holiday Inn Club Vacations in CA on Saturday. It is Tuesday night. After research and feedback, we think it's wise to rescind and do more research before any future purchases.

Questions:
1. Does anyone have a template handy for these types of letters? I understand that both my spouse and I have to sign it and get it sent via USPS ASAP (overnight, return receipt, etc).
2. I have a seller/developer address on the contract but no ATTN or department. Does anyone know exactly who to send it to? There is a second "Trust plan" address.
3. It says "fifth calendar day" -- documents were signed on 4/10/2021, do we have until 4/15/2021 or are there some extra days in there due to Sunday?

Here is the language on the Purchaser's Right to Cancel (vague, no real instructions)
The purchaser of a time share may cancel, by written notice, the contract of sale until midnight of the fifth calendar day following the date of execution of the contract, and the contract of sale must include a statement of this right.
The right of cancellation may not be waived. Any attempt by the developer to obtain a waiver results in a contract which is voidable by the purchaser.
The notice of cancellation may be delivered personally to the developer or sent by certified mail, return receipt requested, with proof of service, to the business address of the developer.
The developer shall, within 20 days after receipt of the notice of cancellation, return all payments made by the purchaser.
 

sue1947

TUG Review Crew
TUG Member
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Messages
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Location
Seattle
Resorts Owned
Worldmark and VI
You've got this covered. Don't make it more complicated than it is. Read this article: https://tug2.net/timeshare_advice/cancel_timeshare_purchase.html and use the sample language. Send the letter certified mail. Don't worry about a specific name. It just needs to get to the company and the certified mail is all the proof you need. They are under no obligation to acknowledge receipt, but they do have to process the rescission so don't worry if you don't hear from them.
Write it up and get to the post office tomorrow, then relax.
 

DaveNV

TUG Review Crew: Expert
TUG Member
Joined
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22,453
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Location
Mesquite, Nevada
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Free Agent
All you really need to do is write a letter stating you are exercising your right to cancel the purchase. It doesn't need any special wording, as long as you state you are rescinding the purchase, date and sign it. Whoever signed the original contract needs to sign the letter. Then mail it Certified mail, so you have proof of postmark of when it was sent. It does not need to be sent overnight, or Return Receipt. You just need to be able to show it was mailed within the right timeframe. The address to mail it to should be in the paperwork they gave you.

Congratulations on saving yourself a lot of money. After the dust settles, come back and read on Tug how you can buy the same thing for pennies on the dollar by buying resale. Good luck!

Welcome to Tug!

Dave
 

MonicaPEL

newbie
Joined
Apr 13, 2021
Messages
2
Reaction score
1
Resorts Owned
Hilton Inn Club Vacations
Thank you!!!

That was part of the wise advice that got us in this direction. We'll learn more but from the experts in this forum (not behind that desk!).
 

mdurette

Sighting Expert & TUG Review Crew: Expert
TUG Member
Joined
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Messages
7,714
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New England
Congratulations for doing your research now and saving the cash. There are many, many resales on the market that you can by for a fraction of developer cost and even find for free. Think about what your goals would be for vacation ownership and then make the decision to buy. This forum is a great place to find the answers to your questions, come back soon!
 

TheTimeTraveler

TUG Member
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Just be sure that any buyer who signed the original contract also signs the rescission paperwork. Great move to rescind. What you paid thousands of dollars for can likely be purchased on the resale market for just a few dollars.

Study up, do your homework and take your time before you buy into any system. There is no hurry, and what there is here today will also be here tomorrow.


.
 

rickandcindy23

TUG Review Crew: Elite
TUG Member
Joined
Jun 6, 2005
Messages
33,870
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10,329
Location
The Centennial State
Resorts Owned
Wyndham Founder; Disney OKW & SSR; Marriott's Willow Ridge and Shadow Ridge,Grand Chateau; Val Chatelle; Hono Koa OF (3); SBR(LOTS), SDO a few; Grand Palms(selling); WKORV-OF ,Westin Desert Willow.
Timeshare is a wonderful product, but not buying directly through the developer. Be sure to let us know what you are looking to do with timeshare, where you want to go, how many people you will be traveling with, etc., and we can guide you to a great resale, that might even be free. My best ones were free.

Congratulations on realizing this mistake in time to rescind. You were wise to rethink this. Everything is downhill from here, believe me. And you will sleep better after this is over and done.
 

Sandy VDH

TUG Review Crew: Elite
TUG Member
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10,137
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Location
Houston, TX
Resorts Owned
Wynd VIP Plat GF, Legacy HGVC Elite, WM, HICV, +
You have limited time to rescind. You have unlimited time to repurchase, either from the developer or resale. Time to act is NOW.
 

chapjim

TUG Review Crew: Veteran
TUG Member
Joined
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Messages
6,654
Reaction score
4,243
Location
Fairfax County, Virginia
Resorts Owned
Wyndham VIPF & PresRes, HVC/DRI (Gold), Quarter House (4), Resort on Cocoa Beach (2), HGVC Tuscany Village, HGVC South Beach-McAlpin, HGVC Parc Soleil
We purchased Holiday Inn Club Vacations in CA on Saturday. It is Tuesday night. After research and feedback, we think it's wise to rescind and do more research before any future purchases.

Questions:
1. Does anyone have a template handy for these types of letters? I understand that both my spouse and I have to sign it and get it sent via USPS ASAP (overnight, return receipt, etc).
2. I have a seller/developer address on the contract but no ATTN or department. Does anyone know exactly who to send it to? There is a second "Trust plan" address.
3. It says "fifth calendar day" -- documents were signed on 4/10/2021, do we have until 4/15/2021 or are there some extra days in there due to Sunday?

Here is the language on the Purchaser's Right to Cancel (vague, no real instructions)
The purchaser of a time share may cancel, by written notice, the contract of sale until midnight of the fifth calendar day following the date of execution of the contract, and the contract of sale must include a statement of this right.
The right of cancellation may not be waived. Any attempt by the developer to obtain a waiver results in a contract which is voidable by the purchaser.
The notice of cancellation may be delivered personally to the developer or sent by certified mail, return receipt requested, with proof of service, to the business address of the developer.
The developer shall, within 20 days after receipt of the notice of cancellation, return all payments made by the purchaser.

"Calendar days" means just that. Saturdays, Sunday, and holidays are all "calendar days."

Git 'er done!
 

Grammarhero

Official TUGBBS Rescission Master
TUG Lifetime Member
Joined
Jun 9, 2019
Messages
3,107
Reaction score
2,527
Location
Washington, DC Area
Resorts Owned
Wyndham Grand Desert 154k & Bali Hai 105k, VV Williamsburg 4L/4 & 2/2
Former: Wyndham 276k, HVC South Bend 1/1
You can buy for $1 resale. We hope your rescission and refund go well. To track TUG rescission savings, mind sharing the purchase price? As half of all tuggers initially bought developer/retail TS, there is no shame or shaming.
 

TUGBrian

Administrator
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Florida
congrats on finding TUG in time to rescind and save a fortune!
 

Grammarhero

Official TUGBBS Rescission Master
TUG Lifetime Member
Joined
Jun 9, 2019
Messages
3,107
Reaction score
2,527
Location
Washington, DC Area
Resorts Owned
Wyndham Grand Desert 154k & Bali Hai 105k, VV Williamsburg 4L/4 & 2/2
Former: Wyndham 276k, HVC South Bend 1/1
We purchased Holiday Inn Club Vacations in CA on Saturday. It is Tuesday night. After research and feedback, we think it's wise to rescind and do more research before any future purchases.

Questions:
1. Does anyone have a template handy for these types of letters? I understand that both my spouse and I have to sign it and get it sent via USPS ASAP (overnight, return receipt, etc).
2. I have a seller/developer address on the contract but no ATTN or department. Does anyone know exactly who to send it to? There is a second "Trust plan" address.
3. It says "fifth calendar day" -- documents were signed on 4/10/2021, do we have until 4/15/2021 or are there some extra days in there due to Sunday?

Here is the language on the Purchaser's Right to Cancel (vague, no real instructions)
The purchaser of a time share may cancel, by written notice, the contract of sale until midnight of the fifth calendar day following the date of execution of the contract, and the contract of sale must include a statement of this right.
The right of cancellation may not be waived. Any attempt by the developer to obtain a waiver results in a contract which is voidable by the purchaser.
The notice of cancellation may be delivered personally to the developer or sent by certified mail, return receipt requested, with proof of service, to the business address of the developer.
The developer shall, within 20 days after receipt of the notice of cancellation, return all payments made by the purchaser.
You can buy for $1 resale. We hope your rescission and refund go well. To track TUG rescission savings, mind sharing the purchase price? As half of all tuggers initially bought developer/retail TS, there is no shame or shaming.
 

Grammarhero

Official TUGBBS Rescission Master
TUG Lifetime Member
Joined
Jun 9, 2019
Messages
3,107
Reaction score
2,527
Location
Washington, DC Area
Resorts Owned
Wyndham Grand Desert 154k & Bali Hai 105k, VV Williamsburg 4L/4 & 2/2
Former: Wyndham 276k, HVC South Bend 1/1
Thank you!!!

That was part of the wise advice that got us in this direction. We'll learn more but from the experts in this forum (not behind that desk!).
@MonicaPEL We hope your rescission and refund go well. To track TUG rescission savings, mind sharing the purchase price? As half of all tuggers initially bought developer/retail TS, there is no shame or shaming.
 
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