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In the Cancellation Window - Do I Jump Ship

arvalentine

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Purchased last week after a tour at Kierlands. Home now and after reading, seems I should cancel the contract and look for a resale?

I purchased 2BR at Vistana in Orlando -- low maintenance fee and have young kids.

Any advice?
 

DeniseM

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You should absolutely rescind - you can buy the same thing on the resale market for pennies on the dollar.
 

GrayFal

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Purchased last week after a tour at Kierlands. Home now and after reading, seems I should cancel the contract and look for a resale?

I purchased 2BR at Vistana in Orlando -- low maintenance fee and have young kids.

Any advice?

You usually have 5 business days to rescind. Read your contract, timing is VERY. Important.
 

DeniseM

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By law, he should have 10 days on a Florida TS, and 7 days in AZ.
 

GrayFal

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DeniseM

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DavidnRobin

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Rescind immediately.
Glad you found TUG in time - many do not.

annem61 - as SW does not have TS in LV - so your post is in wrong forum. When you do find right forum - they will need more details.
 

DeniseM

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annem61's post was moved to Buying-Selling-Renting, since she is not selling a Starwood timeshare.
 
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arvalentine

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Rescind contract, but how about mortgage?

I'm following the instructions provided on how to handle the letter rescinding the contract. Will this serve to begin the process to end the financing as well or do you typically have to go through another party?

Did on the spot financing with Starwood.
 

DeniseM

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I'm following the instructions provided on how to handle the letter rescinding the contract. Will this serve to begin the process to end the financing as well or do you typically have to go through another party?

Did on the spot financing with Starwood.

This will legally rescind the purchase, cancel the financing, and refund any payments you have already made.

Whatever you do, don't call your sales person, because he will be on a mission to talk you out of it, and he cannot help you - he will only try to change your mind.

Just do the written rescission, and then wait.
 

DavidnRobin

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What DeniseM said... I rescinded with fInancing (that I intended to payoff immediately...)

Also - in future - unless you can payoff financing very quickly, you should not finance a TS (or any luxury item for that matter...).

and buy resale...
 
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TUGBrian

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welcome to TUG, you just saved thousands of dollars =)
 

arvalentine

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Thank you!

Just sent my rescind via certified mail with a return receipt. Today was day 8 of the 10-day window. Will they accept the date stamp even if it's not there by Thursday????
 

DeniseM

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Just sent my rescind via certified mail with a return receipt. Today was day 8 of the 10-day window. Will they accept the date stamp even if it's not there by Thursday????

It doesn't matter when it arrives - the critical date is when you SEND it, so yes, you are fine.
 

Saaz124

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Remember to save all your postage receipts. I rescinded a couple years ago and it went surprisingly well. Good luck and happy shopping in the resale market.
 

arvalentine

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How long does rescission take?

I have delivery confirmation of my recission letter (THANK YOU all again!) from Monday. When should I anticipate hearing from them? What are the next steps?
 

DavidnRobin

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Mine took about 2 weeks - and I never sent a recession letter - just notified the Sales office (at Sheraton Poipu Kauai) that sold me WKORVN and told them to cancel sale.
Of course, best to send letter as per instructions.
Congrats.
 

zandor

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I have delivery confirmation of my recission letter (THANK YOU all again!) from Monday. When should I anticipate hearing from them? What are the next steps?

So, what happened? I am sending my rescind letter now.
 

Passepartout

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After you send your rescission letter within the allowable time frame, there are no next steps. You no longer own a timeshare under this contract. They have no choice but to cancel the contract like it never happened. They are under no obligation to give you a progress report. Your refund can take as long as 45 days to be credited back to you. Usually, it's less. The salesman may call and try to save the sale by making more 'deals'. We suggest not answering the phone.

Jim
 

zandor

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I was more concerned about them playing funny business with the letter for example the wording being "not quite right" or refusing to act until you return the promotional materials.
 

DeniseM

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I was more concerned about them playing funny business with the letter for example the wording being "not quite right" or refusing to act until you return the promotional materials.

Unless your letter is completely unclear, that won't happen.

They cannot delay the cancellation, but they could possibly charge you a fee for the materials if not returned, but I haven't heard of that happening with Starwood.
 

Passepartout

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I was more concerned about them playing funny business with the letter for example the wording being "not quite right" or refusing to act until you return the promotional materials.

No. U.S. timeshare outfits are pretty straight-up. Just a letter saying to cancel contract #_____, dated________ and signed by both original signers is plenty.

I usually suggest adding the sentence, "Promotional Materials to be returned under separate cover.", but is probably isn't really necessary except with a few bad players, like Westgate, and some Mexican ones.

The waiting- and if you aren't scared away from timesharing, some studying and reading about resales- begins.

Jim
 

KevinD40

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Jump_heres why

[DUPLICATE POST DELETED: Forum rule prohibit duplicate posts. Please stop pasting the same thing over and over.]
 
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zandor

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Thanks all who replied. I got a voicemail yesterday, Sunday, from the salesperson saying they got internal email notice of the cancellation. I'll likely just ignore them. According to the post office they got the letter on Wednesday last week. So it took them a few days to call.

I have not heard anything else otherwise. I also did not get my USPS return receipt back yet. I didn't say anything about the promotional materials. I also did not get the promotional credit on my account for my stay, which was fine with me as I would have had to give it back. Below is the letter I used. I'll continue to update this thread for those interested.

Sheraton Flex Vacations, LLC
Attn: Document Administration Department
9002 San Marco Court
Orlando, FL 32819

To whom it may concern:

Regarding contract XXXXXX-XXXX-XXXXXX for purchase of timeshare/vacation ownership interest(s) at Sheraton Vistana Villages resort. We are exercising our legal right to cancel this contract. We expect a full refund of our deposit of $XXX. Do not make any additional charges to my credit card. Please confirm my legal rescission in writing.

Sincerely,
<owner 1 typed & signed>
<owner 2 typed & signed>
 
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