Purchased HICV, Have Questions!!

[Jenni Frank]

Hello all,

My husband & I are totally new to the TS world. In our recent visit at HICV Myrtle Beach, SC resort we attended the presentation on a Latitudes package & purchased a unit.

Since we returned we haven't really been super confident with our purchase but still think it's a good deal. I would like guidance on what options we have.

What we purchased was 96,000 points + 96,000 bonus points, 2br & $805 maintenance fee for $16,000.

I've been reading through the conversations & everything says to rescind within 10 days however my cancellation right says FIVE (5) days....which unfortunately means I am out of my cancellation window.


Just wondering if there's anything we can or should do....

Thanks in advance for your help!!

 

[TUGBrian]

it all depends on what state you were in when you bought....since you mention it was South Carolina...that state only has a 5 day rescission period

I would send in your rescission letter immediately (ie tonight if possible)...you have nothing to lose to try.

 

[Passepartout]

If it's possible that the fifth or 6th day hit over the weekend, you MIGHT still be able to rescind. Either way, I'd get a letter out first thing. There are plenty of sample rescission letters here on TUG, but briefly it doesn't have to be legalese or difficult, just:

I/We want to exercise our right to rescind and cancel contract #_____________ Dated_____________

Signed____________Husband __________________Wife.

Include a COPY of the signature page of your contract for ID purposes.
If the contract allows fax, you can send it tonight, otherwise send it Certified w/return receipt to the business office, not the resort.

Best wishes,

Jim

 

[LannyPC]

Since we returned we haven't really been super confident with our purchase but still think it's a good deal....What we purchased was 96,000 points + 96,000 bonus points, 2br & $805 maintenance fee for $16,000.

Yes I would follow the advice the others have given you. But, what makes you think that paying $16,000 for something that:
1)...you seem unsure of and
2)...you could probably buy resale for a fraction of the cost....
is a good deal?

 

[simpsontruckdriver]

As a side note, Orange Lake fixed weeks in Orlando are going for less than $20 on eBay, and averaging $950/yr Maintenance Fees.

TS

 

[silentg]

We stayed at the HICV at Myrtle Beach for 2 nights, we stopped on our way back from Massachusetts. It was a nice place, but not $16,000 worth. Same is true for Cape Canaveral HICV we stayed on an exchange. We stay away from presentations and buy resale. We own a week at O/L we bought resale. Hopefully you can recind and buy resale.
Silentg

 

[Panina]

Try to rescind but if you missed the rescind period, just learn how to use it and enjoy. Many of us, including me purchased our first timeshare retail . I have no regrets, it brought me into the world of timesharing and all my other purchases were resale.

 

[Jenni Frank]

If it's possible that the fifth or 6th day hit over the weekend, you MIGHT still be able to rescind. Either way, I'd get a letter out first thing. There are plenty of sample rescission letters here on TUG, but briefly it doesn't have to be legalese or difficult, just:

I/We want to exercise our right to rescind and cancel contract #_____________ Dated_____________

Signed____________Husband __________________Wife.

Include a COPY of the signature page of your contract for ID purposes.
If the contract allows fax, you can send it tonight, otherwise send it Certified w/return receipt to the business office, not the resort.

Best wishes,

Jim

Thanks for the information. I sent the rescind immediately after reading these comments but have not received any kind of confirmation other then the return receipt form USPS. How will I be notified if it was actually rescinded???