Time Share Help Bought In Dominican Republic (time Sensitive Question)

Lisa J. · Jun 28, 2006

Hello All,
I am a first time buyer and I bought at the Coconut Palms Resort in Caberete, Dominican Republic. I live in New York and when I came back home and did more research I realized that timeshare presenters had misrepresented some information. I would like to know my options as far as pulling out of the timeshare with RCI affiliated company at the Coconut Palms. Do I have the option to pull out even if I put down a down payment of $1,000 last Friday? The timeshare company keeps avoiding that question. I just do not want to be sued if I decide to pull out of the timeshare. Thank you

topcop400 · Jun 28, 2006

Look in the paperwork they gave to you for the recission procedure. There should be an address listed. If you are not past the recission period, send a letter by certified mail to the address. Ask for confirmation of delivery with a signature. Staple the certified mail receipt to a copy of the letter that you sent.

Don't rely on the developer to tell you how you can get out of their deal.

Lisa J. · Jun 28, 2006

Hello and Thank you for the advice,
I have searched all of the documents and my receipt for termination information or for the cooling period and there is no information besides the fact that if I am unsatisfied they can resell my weeks that I bought through Century21 after 1 year.

I am not sure what to do besides take this to a lawyer asap and see if I can get at least some of my money back and get out of the contract.

DeniseM · Jun 28, 2006

How did you make the payment? If you feel that you have been defrauded and there is no recission process through the company, you could stop payment on the check or with your credit card company.

topcop400 · Jun 28, 2006

It's usually ten days.

Don't take another day. Send recission letters TODAY to every address you can find in the paperwork.

I think if you had posted this under "Buying, Selling" you would have other quick responses besides mine.

They would all advise you to GET OUT NOW. You were undoubtedly ripped-off.

Dave M · Jun 28, 2006

topcop400 said:
It's usually ten days.

Is that true for the Dominican Republic? My understanding is that the Dominican Republic has no laws requiring a recision period. The following State Department guidance doesn't provide a lot of hope:

Real estate investments require a high level of caution, as property rights are irregularly enforced. Investors often encounter problems in receiving clear title to land. Real estate investments by U.S. citizens have been the subject of both legal and physical takeover attempts. Absentee landlords and absentee owners of undeveloped land are particularly vulnerable. Investors should seek solid property title and not just a “carta de constancia,” which is often confused by foreigners with a title. An official land registry measurement (also known as 'deslinde' or 'mensura catastral') is also desirable for the cautious overseas investor. Squatters, sometimes supported by governmental or non-governmental organizations, have invaded properties belonging to U.S. citizens, threatening violence and blocking the owners from entering their property. In at least one instance, the U.S. citizen landowner was physically assaulted. Several U.S. citizens with long-standing expropriation disputes with the Dominican Government have not received compensation.

Thus, advice to stop payment on a check or dispute the credit card charge might be sound advice. (...in addition to sending a cancellation letter in hopes of success!) However, if the charge was on a CC, the CC company will likely uphold the charge if the seller provides a copy of the signed contract and proves you got what was promised in writing. If a promise wasn't in writing, that promise won't be considered by the CC company.

topcop400 · Jun 28, 2006

Dave M said:
Is that true for the Dominican Republic?

Good point. I was thinking in terms of U.S.

Blondie · Jun 28, 2006

Then does it stand to reason that if Lisa just walks away and forfeits her grand that it will have no adverse affect on her credit since she did not buy in the US?

Hoc · Jun 28, 2006

Blondie said:
Then does it stand to reason that if Lisa just walks away and forfeits her grand that it will have no adverse affect on her credit since she did not buy in the US?

No, it doesn't. They will assign the account to a U.S. Collections agency who will mess up her credit report for nonpayment.

Dave M · Jun 28, 2006

I agree with Hoc, even though it's not certain they would take the action he suggests.

Despite my earlier post regarding disputing a credit card charge, I would not suggest walking away from a contract without an understanding of what the legal responsibilities are and what the risk to the OP's credit rating might be. That likely requires a very careful reading of the contract and a brief visit with an attorney. ...and a search of the Internet in an effort to find what success and/or problems others have had in dealing with this company.

Lisa J. · Jun 28, 2006

Thank you all for your information, I will work with my credit card company and the resort first to solve this problem. But I have learned my lesson not to be pressured into buying anything without have 100% of the details.