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We recently purchased a TS, but found this site. Now we need help/advice.

mf2017

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Hello all,

We are completely new to the whole TS process. In our recent visit at HCIV Orange Lake Fl resort we attended a "90 min" presentation. We liked the idea of "owning our vacations." We also like the option to have a room with kitchen, washer & dryer. Since we have young kids and our goal is to travel around 15 to 20 days per year we decided to close on buying in on HICV TS property and club membership.

Afterwards, we never fully felt good as the whole resort seems to function on forcing families to attend this presentation in order to have full access to its amenities. This is a red flag but we went agains our better judgment.

Before rescinding, we would like guidance on what options we have.
Brief overview of our goals:
1. Travel and vacation around 15-20/yr
2. Have min 2br with kitchen and washer&Dryer
3. Have ability to use points and not be tied into a particular week (flexibility)
4. Have access to domestic and international travel.

According to HICV, only two resorts have reputable ratings and high standings (IHG & DISNEY) We would like to know that whichever resort we chose is reputable while offering best options to owners.

After reading many posts our obvious next step is to rescind. However, we are clueless on how to purchase something comparable without the markup. What we purchased was 200,000 points, 2br classified as special warranty deed & $945 maintenance fee for $32,000. After seeing this site its obvious that we paid way more than we should.

Could you guys help direct us on which Club we should consider and what would be easiest rout for us to have same amount of points and living arrangements?

Thanks in advance!
 

vacationtime1

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Rescind first. Rescind exactly according to the instructions you were given. Use the prescribed form of delivery (U.S. Mail, FedEx, etc.). Everyone who signed the purchase documents signs the rescission letter. Etc. Do it now. You have only one chance to rescind and you have $32,000 on the line.

Only then should you commence research -- and you have months or years to research because resale timeshares are not going up in price. Renting is also a good option as it enables you to further refine what works for your family.

imo, the best timeshare groups are Disney, Marriott, Vistana, and Hyatt. But that doesn't mean that others may not better meet your needs based on geography or personal preferences.
 

WalnutBaron

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First, welcome to TUG! You found the right place for advice.

First order of business: RESCIND NOW. Do not hesitate. You only have a short window to do so, and then you own it. So send the rescission letter immediately, following all stipulations in your contract.

Second, take your time. Holiday Inn Vacation Club is a fine system, but definitely NOT considered one of the highest-rated systems out there. Systems that are considered "best" in terms of quality are Starwood/Vistana, Hyatt, Marriott, Hilton, and Disney.

Regarding where to look to purchase a resale unit, I suggest you start by checking offers posted on Ebay and Redweek. This will give you some general idea of what units are being sold for. Depending on which system you decide to buy in, fellow TUGgers can recommend a reputable broker who can help you.
 

TUGBrian

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congrats on finding TUG in time to save yourself 32 thousand dollars!
 

mf2017

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Thanks!

This is the excerpt from the contract:
"a. Purchaser's Right of Cancellation You may cancel the purchase agreement without any penalty or obligation within ten (10) calendar days after the date you sign the purchase agreement or the date on which you receive the last of all documents required to be given to you pursuant to section 721.07(6), Florida Statutes, whichever is later. If you decide to cancel the purchase agreement, you must notify the seller in writing of your intent to cancel. Your notice of cancellation shall be effective upon the date sent and shall be sent to the Orange Lake Country Club, Inc., 8505 W. Irlo Bronson Memorial Highway, Kissimmee, Florida 34747, Attention: Deeding Department. 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."

It does not state which carrier is preferred. Also we are unclear on what "Any attempt to obtain a waiver of your cancellation right is void and of no effect" means. We could not find anywhere on how the rescind letter should be formatted, so we typed a standard letter in business format.

August 10,2017



Our Names
Our Address



Orange Lake Country Club, Inc.
Attention: Deeding Department
8505 W. Irlo Bronson Memorial Hwy
Kissimmee, Florida 34747


Dear Orange Lake Country Club Inc (Deeding Department),



We have decided to rescind and cancel our recent purchase on 08/05/2017 (August 05,2017), which was 5 days ago. We should have not made the purchase, as our intent while visiting Florida was to be on vacation. We were directed to a 90 minute presentation in order for discounted tickets and free club amenities at the Florida Orange Lake resort. Exploring options took longer than expected and we, as well as our kids, were getting hungry and tired. Our main focus was to be on vacation and not to purchase any timeshares. Hence, we have decided that the purchase for the timeshare property (location of the property), points, and membership was not a good purchase and we are executing our right to cancel the purchase agreement without any penalty or obligation since we are within ten (10) calendar days after the date that we signed the purchase agreement. We are also within 10 days of date which we receive the documents required to be given to you pursuant to section 721.07(6), Florida Statutes.

Please cancel the purchase, provide full refund, and void all fees associated with this document.

Thank You,
Both our signatures and date
Our names and date typed out
 

DeniseM

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Your letter is way too wordy - you don't need to justify your decision - this is all you need to say:

Gentlemen:

Regarding contract "123" for purchase of a timeshare at "ABC" resort. We are exercising our legal right to cancel this contract. We expect a full refund of our deposit of "$123." Do not make any additional charges to my credit card. Please confirm my legal rescission in writing.

Sincerely,

John Husband
Jane Wife
 

Passepartout

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What Denise said. Then mail it USPS Certified w/return receipt so you'll have proof of delivery. That's all there is to it.

There are tons of TSs on eBay, the TUG Marketplace, Redweek, and others for a song. Some are worth nothing, though they are free. But there are some jewels, too. Stick around TUG for a while. There is no hurry. You won't use what you buy now until next year anyway, and believe me, the REAL bargains come up about the time the maintenance fees come due at year's end.

Glad you found us. Welcome to TUG!

Jim
 

rickandcindy23

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Orange Lake is not even in the top 30 resorts in Orlando, as far as I am concerned. That is so sleazy, making you attend a timeshare presentation to use the amenities. That goes to show what scum that company is.

You definitely need to rescind asap and get that proof that they received it. I think it costs less than $1 extra via the USPS.

Don't buy Orange Lake. It's a huge mistake. Buy something in the Hilton system resale, or DVC resale. Either one of those products would be worth owning.

We trade into Orlando with cheap traders. It's too easy to get a 2 bedroom unit, as long as you don't want Christmas or New Year's week. Spring breaks are different for every part of the country, as are summer breaks, and those are easy to get too.
 

vacationhopeful

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Other than DVC .. Orlando is generally EASY to exchange into. And most TS chains .. have a resort or 2 in Orlando and you either can do an internal exchange or get a preference via RCI or II to exchange into associated (to your chain's) Orlando.

DVC is Disney Vacation Club ... costs more to buy in over other Orlando resale resorts .. and resale does come with some limitations (which can be partially worked around). I own 90 DVC points ... an older resale so I get the DVC Annual Pass discount. And every 2 or 3 years, I get a really nice stay onsite.

I own Wyndham points ... the 3 Orlando resort in that chain are: ... Bonnet Creek is a nice resort in that chain ... Wyndham Star Island which has multiple tennis courts & a tennis pro and the 3rd Wyndham is Cypress Palms resort.
 
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WalnutBaron

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Very glad we came across TUG! Certified letter with return receipt sent. Now it's time to learn and find an option without pressure to buy now. ️
You were incredibly wise to avoid a huge financial mistake and--as you've said--you can now take the time to read, "hang out" (as Denise suggested), and ask a lot of questions. TUGgers are a good lot, and they're happy to help. I am confident you will find what is right for your family at a fraction of the original price.

As a suggestion, I would plan on spending a minimum of three months here looking, studying, learning--before you even attempt to make a resale purchase.
 

vacationhopeful

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And when you narrow it down to an area and/or a change of resorts .. RENT several times before buying resale.

I brought in an area off eBay... before staying there. The one resort when I checkin with my 2 sisters ... the unit was totally PINK. Pink walls, pink metal kitchen cabinets, dark pink rugs, pink bathroom ... PINK, PINK and then, more PINK. We decided to visit daily the our other siblings at Wyndham Sea Gardens, Pompano .. they had a really nice place ... no pink, no metal cabinets from 1950, no pink walls, etc.

PS The PINK resort has accessed all week owners .. for each week interval they owned .. a special assessment of about $2500. I did not get hit with the special assessment .. but the renovated units were really tastefully designed (with not one drop of PINK any wheres).
 

Passepartout

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Good Job mf2017!
You'll probably get bombarded with anecdotal (and well intentioned) tributes of how great this system or that system is, or how much this one or that one sux- all with no verifiable examples. I will say one thing you should take to heart. there is NO free lunch. Those nice units DO come with costs. The nice ones will have annual fees of roughly $200/day. A week for close to $1200-$1500 of MF. And that's if you stay at your home resort. When you exchange (as you said you wanted to do), add $100 to the MF to belong to an exchange company (RCI and Interval Int'l are the big ones) AND about $300 for each of those exchanges. So a week in high season at a resort that isn't your home resort can easily run $2,000 PLUS the cost of getting you and your family there.

And my next pearl of wisdom. HAVE NOTHING TO DO WITH WESTGATE RESORTS!. They have earned the name 'Wastegate' around here for the way they treat their owners. They strip ALL the perks from resales, so consequently they are almost unusable. If you want to see how the family that owns Wastegate operates, watch the movie "Queen of Versailles"

That's enough for now. Oh. Ignore phone calls that you don't recognize. Orange Lake MIGHT have the sales people call you and promise you the moon, add perks, reduce the price, whatever it takes to save the sale. Just so you know. Ignore them until after the rescission period is past and preferably after you have your down payment money safely in hand.

Jim
 

WalnutBaron

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Good Job mf2017!
You'll probably get bombarded with anecdotal (and well intentioned) tributes of how great this system or that system is, or how much this one or that one sux- all with no verifiable examples. I will say one thing you should take to heart. there is NO free lunch. Those nice units DO come with costs. The nice ones will have annual fees of roughly $200/day. A week for close to $1200-$1500 of MF. And that's if you stay at your home resort. When you exchange (as you said you wanted to do), add $100 to the MF to belong to an exchange company (RCI and Interval Int'l are the big ones) AND about $300 for each of those exchanges. So a week in high season at a resort that isn't your home resort can easily run $2,000 PLUS the cost of getting you and your family there.

And my next pearl of wisdom. HAVE NOTHING TO DO WITH WESTGATE RESORTS!. They have earned the name 'Wastegate' around here for the way they treat their owners. They strip ALL the perks from resales, so consequently they are almost unusable. If you want to see how the family that owns Wastegate operates, watch the movie "Queen of Versailles"

That's enough for now. Oh. Ignore phone calls that you don't recognize. Orange Lake MIGHT have the sales people call you and promise you the moon, add perks, reduce the price, whatever it takes to save the sale. Just so you know. Ignore them until after the rescission period is past and preferably after you have your down payment money safely in hand.

Jim
Great advice from Jim, as usual.
 

mf2017

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Update:
Letter shows that it was delivered to mail room on Monday. However, I haven't received any call or voicemails. This has me a bit concerned as many have warned that we would be bombarded with calls. Has anyone experienced something similar still get out of contract and still receive a full refund?
 

amycurl

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If you have the proof that they received your letter, you are good. (And it looks like you do.) You may not hear anything from them before (or after) you get your deposit back. HIVC might not be the best company out there, but even they will honor a legal recission letter.


Sent from my iPad using Tapatalk
 

Passepartout

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They are under no responsibility to inform you of any progress in processing your rescission. You may hear nothing until a credit suddenly appears on your credit card. And depending on when it is in your Cc's billing cycle, it could take up to 45 days. Yes, it is concerning, but they won't defy the law and not process a rescission. You WILL get a full refund and you WON'T own the timeshare. It's only been about a week. You have reason to sweat if a month goes by and then you get a bill for the next installment. Until then, just be happy that nobody DID call and try to talk you out of rescinding. You have both proof that you mailed the letter, and proof that they received it. That's the best of all worlds.

You saved yourself $32,000! WooHoo!

Jim
 

mf2017

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Thanks! I do have proof of delivery but it doesn't look like there is a signature on file.

You all are the best!

Screenshot_20170816-213644.png
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silentg

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I am sorry that you were sold such an expensive week at Orange Lake. Best thing you did was recind. I might be a bit upset at the bad mouthing of Orange Lake. I own a week there and belong to IHG too. We use our week for points for Holiday Inn stays, but we also go periodically to Orange Lake. If you are a member of TUG you can check Marketplace for resales. That is how we got a week at OL. Since we live in Central Florida we go over to Orange Lake for golf or to use the pools etc for a day. We have stayed at other resorts and I would advise you to try that too. But if you enjoyed your stay( outside of the sales pitch) you can acquire a timeshare for much less.
Silentg
 

TUGBrian

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always makes my day to read a happy ending!
 

Panina

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UPDATE:
We received a full refund. We did get a couple of calls but we never answered. BIG THANKS TO THIS FORUM!!!!
Congratulations, now stick around, learn all about timesharing and find a great resale.
 

silentg

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We are at Orange Lake right now! It's beautiful!
 
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