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To rescind or to rescind

olap001

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Hi everyone,

My wife and I attended the timeshare presentation on Monday (the last day of our vacation in Florida). We were offered 5000 points every other year at a purchase price of $16,370. With the interest on the loan taken into consideration, the total for the property will be $28,311.

The beinnal maintenance fees comes in at $1300. We were offered a 10000 points bonus to sweeten the deal (the sales guy even told us he's never seen anyone being offered 10000 points). We were even given a $75 Amex prepaid card and they organised for out transport to the airport seeing that they held us for 5 hours.

Thankfully, I came across the forum this morning and the obvious way forward is to rescind the deal seeing as I have 10 days. In terms of buying on the resale market, will I be able to buy since I reside in the UK?
 

brp

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A. Rescind and buy resale.
B. If at all possible do not finance the purchase...better to wait until you have the cash
C. If the salesweasel's mouth is moving, they're lying
D. Rescind and buy resale.

Oh, and welcome :)

Cheers.
 

Talent312

Tug Review Crew: Rookie
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Yes, you can buy from the UK.
There are a few owners from across the pond who participate here.

HGVC is a high-quality system with a decent website and call center.
But their sales department operates like all other TS's - a total rip-off.

You were robbed. Rescind! Follow the instructions in your contract.
Look at these websites for HGVC resale pricing from reputable brokers:
www.sellingtimeshares.net and www.judikoz.com
You can also check out closed auctions on e-Bay.

After looking at those, the amount you paid will make you sick.

.


 

AdaKate

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We purchased Monday as well, and rescinded on Tuesday (THANKFULLY we found this site Monday night!) We weren't even going to be financing more than 2 months, and it still just felt like WAY too much once we realized what could be purchased resale. Our only reason for purchasing on the spot was we were lied to and told open season cash rates were ONLY available if we purchased on our first viewing (sales person issue, being addressed). Do it immediately. The weight off our shoulders was amazing.
 

vacationtime1

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You can buy a 5000 point annual HGVC contract in Orlando for less than $3,000. Rescission is a no-brainer. HGVC is good about giving its resale owners rights similar to those given to developer purchasers, so your only loss would be the 10000 incentive points (which are certainly not worth $13,000).
 

TM42

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On TUG, check resales listed here, too!
 

barrey

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A. Rescind and buy resale.
B. If at all possible do not finance the purchase...better to wait until you have the cash
C. If the salesweasel's mouth is moving, they're lying
D. Rescind and buy resale.

Oh, and welcome :)

Cheers.
You forgot the most important one:

Join TUG.
 

olap001

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Thanks everyone... Rescission letter has been sent via DHL and should get there tomorrow! So glad I found this forum
 

vacationtime1

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Thanks everyone... Rescission letter has been sent via DHL and should get there tomorrow! So glad I found this forum
I have never seen HGVC's rescission instructions, but is DHL an approved method of sending a rescission letter? Please re-read the instructions and make absolutely certain that you follow them to the letter (and that you both sign the letter assuming you both signed the purchase contract). If they say to rescind via USPS, re-send your letter. You cannot be too certain.
 

olap001

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I have never seen HGVC's rescission instructions, but is DHL an approved method of sending a rescission letter? Please re-read the instructions and make absolutely certain that you follow them to the letter (and that you both sign the letter assuming you both signed the purchase contract). If they say to rescind via USPS, re-send your letter. You cannot be too certain.
We reside in the UK and DHL is the most effective option to get the letter to them. They didnt mention anything about using a specific postal service. We both signed the rescission letter in blue ink cos they were particular about using blue when we signed the contract.

Thank you
 

AdaKate

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I have never seen HGVC's rescission instructions, but is DHL an approved method of sending a rescission letter? Please re-read the instructions and make absolutely certain that you follow them to the letter (and that you both sign the letter assuming you both signed the purchase contract). If they say to rescind via USPS, re-send your letter. You cannot be too certain.
Our contract said delivered by any means
 

Talent312

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HGVC is a stand-up company. Aside from lying sales-weasels, they'll do the right thing.

.
 
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