TIME SENSITIVE: New owner trying to avoid buyer's remorse before my cancellation date

[DeniseM]

Dave -

IMNSHO, if you have to finance it, then it NEVER makes sense to buy from the developer, and the OP financed his purchase.

IMNSHO, there are some cases where it might make sense for someone who can pay cash to buy from the developer - but NEVER as a first purchase.

IMNSHO, in most cases, it only makes sense to buy from the developer if you have money to burn, and although that does apply to a *lucky few here, in most cases, it's not a good financial strategy for the average person.

However - since I don't believe it applies to the OP, I think it's better to keep it simple, rather than presenting all the options to a newbie. It's confusing enough as it is!

Your esteemed moderator

*I truly mean that - if money is no object, then buy what every you want and more power too you! However, that simply is not true for the majority of newbies who come to TUG, or your average owner, in general. So presenting it as a viable option, just muddies the waters. Buying from the developer is an advanced strategy that requires advantage knowledge and planning, or just a lot of money!

 

[Helios]

congrats
Heed the 3Rs (Rescind, Research, Resale) - you have started with the 1st R

do not finance a TS - unless you plan to pay off in full within short time period

also - do not not sweat the cancellation - it is good to follow instructions, but SVO is not looking to screw over people based on rescinding nuances. Do not expect to hear back - just wait for payment to be credited to CC (~14 days)

again - contrary to standard advice given here - there are times when it makes sense to buy from SVO (rarely, but not in this case AND with disposable income)
I know folks here on TUG that have bought from SVO with full knowledge of downside, but these are always for very specific reasons (e.g. fixed villas at Nanea, requalifying a resale to get to 5*, desire to have ability to convert SPs, etc...). I know our esteemed moderator does not agree, but there are cases and other opinions that are sometimes afraid to speak up as not to incur the wrath of TUG. Sorry, but keeping it real...

btw - we love our timeshares. If you want OF SVO in Maui (because you plan to go annually) - consider OF WKORV (resale) -
consider WKV (Plat) resale if you want use of SOs - consider WSJ is you want WSJ, but then need to decide on which phase.

good luck

Couldn't agree more.

 

[deez]

Quick update: looks like tracking info shows the envelope was received and signed for, so happy for that, but nervous that some idiot loses it before it makes it to the right desk. Oh well, I have proof on my end, so hopefully it all goes smooth from here and I see a refund on my card in 15 days and I can rest more easily knowing the cancellation is in full effect!

One more thing: Do I have to send everything back?? The cancellation notice said they could deduct up to $25 if I didn't send back all the ownership info I was given in good condition, but I'm thinking about just keeping it and letting them deduct lol

 

[DeniseM]

They may or may not bill you for the materials. You can send them media rate, and it won't be very expensive.

Unless you plan to buy resale at this resort, I'm not sure if the materials will be very helpful, because the structure is so different at this resort, than other Starwood resorts.

I would not expect the refund in 15 days - did the purchase Docs say it would only be 15 days? I believe that legally, they have longer than that.

 

[LisaRex]

Starwood is usually very good about refunding money fairly quickly without questions. However, if there's a concern, you can call your credit card company and tell them that you canceled the transaction. They will put a temporary credit on the charge until you receive the actual refund from Starwood.

 

[okwiater]

I have never heard of a single instance where Starwood did not properly refund or cancel a transaction, even in cases where the purchaser notified Starwood in a different manner than the one specified in the contract. Starwood has been to my knowledge 100% ethical in this regard. As long as you sent the notice on time and have some manner of proof it was sent, I wouldn't lose any sleep over it.

 

[DavidnRobin]

^^^^ this ^^^^

Also - I kept the docs and materials they gave to me - never was charged.
Do not sweat any of this - SVO is not some neferious organization out to rip people off (other than their audacity to sell VOIs...) that it is sometimes they are made out to be here on TUG.

 

[SandyPGravel]

Quick update: looks like tracking info shows the envelope was received and signed for, so happy for that, but nervous that some idiot loses it before it makes it to the right desk. Oh well, I have proof on my end, so hopefully it all goes smooth from here and I see a refund on my card in 15 days and I can rest more easily knowing the cancellation is in full effect!

One more thing: Do I have to send everything back?? The cancellation notice said they could deduct up to $25 if I didn't send back all the ownership info I was given in good condition, but I'm thinking about just keeping it and letting them deduct lol

I have rescinded twice. (I don't plan on attending anymore sales presentations. Managed to say no for years and then almost caved two years in a row!) First time I refused delivery on the package of ownership material when it arrived. (They offered to FedEx the package so I didn't have to pack it in my suitcase.) Second time I kept the materials and was not charged for the materials. I received my refunds quickly and I received a letter stating that the rescission had been recorded. (I might have asked for the letter when I sent my rescission paperwork in, I don't remember.) Both times it has gone through fine. I assumed I would have my picture on a "ten least wanted owner" poster at SVO after the recessions, but that hasn't seemed to happen either. I now own at the location where I kept the ownership materials so it all worked out. Like others have said don't lose any sleep, it should work out fine.

 

[TUGBrian]

grats, sounds like you just saved 30 grand =)

welcome to TUG!

 

[deez]

Update:

I got a call from the Senior Sales Manager at WKORV asking me how I preferred my refund, so that confirmed my cancellation went through! I called him this morning and he told me he had already processed it to go back to my original credit card that was charged

Seems you all are right that the Starwood guys really are straight shooters and don't have anything funny up their sleeves, which is reassuring and definitely leaves a good taste in my mouth as I consider time share ownership in the future.

Thanks again all!