Just bought a refurbished 2 BR (EOY - floating week - red period) at the Sheraton Vistana Resort 2 days ago, and after reading this thread, I am ready to exercise my right to rescind.
I have been studying about timeshare on this website and other online sources, but decided to give it a try with Starwood. Now, I am not too sure it was a sound decision. I cannot get over my fear/phobia of the MF long -term commitments.
Among other things, I was explained that I could only select one of 4 options at the beginning of the year, but could not get any combination of them:
1) use my staroptions at my home resort (7-day min stay)
2) trade my week with II external exchange
3) reserve using staroptions on a daily basis via SVN
4) convert my staroptions into starpoints (reservations as SPG)
I questioned the ability and flexibility of the reservation system, and of course was assured that, if I did not care to reserve my home resort unit (week 06) -- BTW, I did not understand why the contract would mention a specific unit, if I was on a floating 1-52 basis -- I would need to reserve 4 mo. in advance for most desirable weeks (e.g., Labor day) and less at other times.
In addition, I discussed the maintenance fee and special assessment issue. I was assured that Starwood owners in Florida were protected by law with a 3% cap on MF annual increases and that they were not affected by special assessments (right! there was a document about a refurbishment project fee for owners at Vistana Cascades Condo Association in the contract package, although I was not "concerned" by it, as a biennal purchaser with first occupancy in 2012).
Needless to say, I did not believe the sales agent, and second I have been reviewing the contract and brochures for the last two days, and find them full of limitations and contradictions. Now, this thread and the USA Today article suggest that I should not wait for the end of the week to send my rescission letter!
Just needed to share and let your know how important TUG forums are for first time buyers like me. I would also greatly appreciate to get valuable feedback and recommendations from experienced timeshare owners, especially in Orlando, FL.
I have been studying about timeshare on this website and other online sources, but decided to give it a try with Starwood. Now, I am not too sure it was a sound decision. I cannot get over my fear/phobia of the MF long -term commitments.
Among other things, I was explained that I could only select one of 4 options at the beginning of the year, but could not get any combination of them:
1) use my staroptions at my home resort (7-day min stay)
2) trade my week with II external exchange
3) reserve using staroptions on a daily basis via SVN
4) convert my staroptions into starpoints (reservations as SPG)
I questioned the ability and flexibility of the reservation system, and of course was assured that, if I did not care to reserve my home resort unit (week 06) -- BTW, I did not understand why the contract would mention a specific unit, if I was on a floating 1-52 basis -- I would need to reserve 4 mo. in advance for most desirable weeks (e.g., Labor day) and less at other times.
In addition, I discussed the maintenance fee and special assessment issue. I was assured that Starwood owners in Florida were protected by law with a 3% cap on MF annual increases and that they were not affected by special assessments (right! there was a document about a refurbishment project fee for owners at Vistana Cascades Condo Association in the contract package, although I was not "concerned" by it, as a biennal purchaser with first occupancy in 2012).
Needless to say, I did not believe the sales agent, and second I have been reviewing the contract and brochures for the last two days, and find them full of limitations and contradictions. Now, this thread and the USA Today article suggest that I should not wait for the end of the week to send my rescission letter!
Just needed to share and let your know how important TUG forums are for first time buyers like me. I would also greatly appreciate to get valuable feedback and recommendations from experienced timeshare owners, especially in Orlando, FL.