Were we tricked into selling our timeshare with Capital Vacations?

[TravelJoy]

We were pressured, strong armed into paying $10,000 to sell our timeshare. Our timeshare resort set up the appointment and we spent 7
hours at a place in a "tag team" high pressured sales push to get us to sign. At one point I thought the guy was going to hit us I felt
like a prisoner in this place, and they tried everything but waterboarding us. The place was Capital Vacations.
We are a college educated, business owning, couple who fell for the high pressure tactic of desperate sales people. It was a tag team method
of sales, when one couldn't close the deal another would sit down with us and almost aggressively verbally abuse us. It was worthy of Jerry
Springer really. We paid $10,000. to sign over the deed but still pay a $50.00 fee monthly on top of the lump sum. We have "points" now
supposedly but have requirements to attend more meetings one of which is a dinner and meeting for new Capital Vacation members.
Also, interestingly we were hastily handed a contract of 20 or so pages by another "contract person" to sign with a preface saying read this
before agreeing to a contract with the place closing for the day, us exhausted, worn down and hungry, claiming defeat.
We regret being so short sighted and falling for this high pressure sales technique. Did we make one big huge mistake?

This seems very recent, if you are within the cancellation period, don't think too much about it and rescind.

 

[vacation911]

I'd be willing to bet a nickle that OP is talking to Capital Vacations to "get the facts." And will be convinced not to listen to anyone here.

Thats what I was thinking

 

[Snazzylass]

Interesting, and of course terrible for the OP. I was at a T/S last month, not CV. I've been going to this same resort for many, many years. First time I was told to go see a fellow in a back room to get my parking pass.

Years ago, this same back room housed the concierge who helped with reservations to local attractions AND, the notorious Owner Update. So, same idea.

This time, I tried to politely decline the presentation. Eventually agreed to it. I'm not an enthusiastic audience but I do pay attention to see what I can learn, to try to figure out what makes these salespeople so darn enthusiastic - basically, they are lying through their teeth and are great actors. They are making stuff up.

Next we move to the closing table where I just can't see the value. Next, the heavy guns are brought in. Seriously, it's all I can do to keep a straight face with the amount of gold jewelry Mr. Vegas is wearing. I always wonder why these people are still working if they are so successful?

Again I politely decline. I sign a paper & get spending $$ for my trouble. Odd that the OP has not returned. I have been told that Salespeople are the easiest people to close/sell to. So, it's not surprising that they would get duped. Wish he'd found TUG sooner.

 

[rapmarks]

Interesting, and of course terrible for the OP. I was at a T/S last month, not CV. I've been going to this same resort for many, many years. First time I was told to go see a fellow in a back room to get my parking pass.

Years ago, this same back room housed the concierge who helped with reservations to local attractions AND, the notorious Owner Update. So, same idea.

This time, I tried to politely decline the presentation. Eventually agreed to it. I'm not an enthusiastic audience but I do pay attention to see what I can learn, to try to figure out what makes these salespeople so darn enthusiastic - basically, they are lying through their teeth and are great actors. They are making stuff up.

Next we move to the closing table where I just can't see the value. Next, the heavy guns are brought in. Seriously, it's all I can do to keep a straight face with the amount of gold jewelry Mr. Vegas is wearing. I always wonder why these people are still working if they are so successful?

Again I politely decline. I sign a paper & get spending $$ for my trouble. Odd that the OP has not returned. I have been told that Salespeople are the easiest people to close/sell to. So, it's not surprising that they would get duped. Wish he'd found TUG sooner.

Op doesn’t realize he would get good responses here. He was venting

 

[FunnyFarm]

CV points chart shows a week in a standard 2 BR is 140,000 to 225,000 (depending upon week) for all but weeks 1 through 9.

But none of those charts are going to show how much inventory the CV points trust actually owns ... so you have no idea what is even theoretically possible to reserve.

And then there's the issue that CV sells multiple levels of access to whatever inventory is actually in the trust. If you're just a single week owner who has converted to CV points (think that's called Preferred in CV terminology) you are bottom of the stack in priority, i.e. higher levels of ownership can reserve month(s) ahead of you.

That's really crappy if CV sells low tier memberships with shorter reservation windows. I bet buyers are unaware of this limitation until it's too late, then upsold to get more points and get what they thought they had in the first place.

 

[gravityrules]

That's really crappy if CV sells low tier memberships with shorter reservation windows. I bet buyers are unaware of this limitation until it's too late, then upsold to get more points and get what they thought they had in the first place.

Yes, there are 4 tier levels.
From lowest to highest, CV points required, max reservation window
Preferred - <300K 10 months
VIP Silver - 300K to 499,999 11 months
VIP Gold - 500K to 999,999 12 months
VIP Platinum - 1M and up 13 months

Other tier differences too as you would expect. Higher tiers get more lead time to snap up last minute deals, etc.

 

[Tia]

Speaking of Capital Vacations, nothing related to this specific topic. One resort they manage Capital placed 3 of their own employees on the HOA board of 5 in Oct at annual elections, having transferred deeds two days before to them I understand. Unfortunately Owners failed to vote in enough numbers. Capital had obtained the last of the developer weeks from Wyndham a while back . Imagine they will use them in their own points program.

 

[LannyPC]

to try to figure out what makes these salespeople so darn enthusiastic...

Money.

 

[gravityrules]

Speaking of Capital Vacations, nothing related to this specific topic. One resort they manage Capital placed 3 of their own employees on the HOA board of 5 in Oct at annual elections, having transferred deeds two days before to them I understand. Unfortunately Owners failed to vote in enough numbers. Capital had obtained the last of the developer weeks from Wyndham a while back . Imagine they will use them in their own points program.

They did the same thing to MROP. Only 2 of the original 9 MROP board remain, others were said to have 'resigned', conveniently replaced with CV employees/appointees.
So much for the announced MROP/CV 'partnership', it looks more like MROP has been assimilated by the Borg.