Thanks TUG for saving me from a hasty decision

Hi

I sent the recision letter via cert mail on Saturday (day 8 of my 10 day window by Florida law) to Orange Lake/HIVC.

Saved myself a 11k outlay for a studio week 43 unit with 750ish maintenance and 62k HIVC points. Let emotion get the better of me and the per month payment dictate. Thanks to this site, I have thought better.

Waiting for cancellation to process.

That said, I did like the HIVC system's flexibility.

1) Where do you want your home resort to be? No real preference but given that one can still use facilities at most resort without staying, perhaps one in the Phoenix metro would be preferable.

2) Do you want to visit your home resort at least half the time, or do you want to trade more than half the time? Trade more than half the time

3) What are your 5 top trade destinations? Top 5 are as follows: Nothing specific though would not mind options for Europe.

4) How many people do you usually travel with? Four Total - 2 Adult and 2 children (not yet teens)

5) Can you travel any time, or are you locked into the school schedule? Unfortunately, locked into school schedule.

6) Can you make firm plans 12 or more mos. in advance? Generally no

7) Can you vacation for a full week at a time? Yes

8) What level of accommodations do you prefer on a scale of 1 to 5 stars? 3 or more

9) How much can you afford to spend upfront, without financing? 3k but not eyeing to do so for at least 6 months after learning as much as I can from TUG.

10) How much can you afford to spend every year for a maintenance fee that will come due right after Christmas, and increase each year? $ 800-1500

11) Are you a detail oriented planner? Very Much So

12) Do you understand that once you buy a timeshare, it may be very difficult to sell or give away, and you are responsible for all fees, until you do? Yes

Given my answer to 5, I take it most would advise against buying into a timeshare. That's okay as well. Will learn more and try to see about renting thru the TUG marketplace if needed. But I really appreciate this resource and eager to learn . Thanks again TUG.

outstanding!

congrats on finding us in time to save $11 grand!

Great that you found the site in time! It's a fabulous resource.

The problem area is not really #5, it's the combination with #6 that's troublesome. Lots of people are tied to the school schedule, but to overcome that, booking as early as possible- using preferential booking ability within your resort will still assure you great locations during school holidays.

Now, adding that your preferred (dream) locations is Europe. Honestly, timeshares in Europe are not in the cities where N. Americans want to go. They are in the countryside- because Europeans LIVE in cities and when they vacation, they want to be away from cities.

Glad you found us in time to save a bundle. Stick around. Read and learn.

Jim

Have you looked into the option of renting from current owners? Since you want to trade at least half the time, it would likely be easier to find what you want, when you want, and where you want via a rental than owning and trying to trade.

Since you can't easily make plans 12 months in advance, a lot of last minute deals for rentals pop up including here on TUG's Last Minute Rental board. And you don't have to spend $3000 upfront. TUG's membership is only $15.

Given that you don't have a defined list of places you want to go, and especially because you list Europe, I agree that owning timeshare may not be for you. Renting timeshare allows you the superior accommodations while giving you full flexibility without the long term financial commitment of timeshare, whether you use it or not.

Hi,

I Am in the middle of rescinding as well, can you please send me your format and let me know if your money was fully refunded?

Thanks!

Deep@NJ said:

Hi,

I Am in the middle of rescinding as well, can you please send me your format and let me know if your money was fully refunded?

Thanks!

Click to expand...

This is pretty unclear. But I will guess you haven't written the letter yet. The instructions for rescission will be in your contract. Probably close to the end. All that is needed is to express your desire to cancel. Include the contract numbers, date signed, and be sure all who signed the contract sign the rescission letter. Mail it USPS Certified w/return receipt to the business office, not the resort where you bought. It is your right to rescind within a certain time limit depending on state law. If done on time, you will get back every cent, but it could take up to 45 days.

Jim

Deep@NJ said:

Hi,

I Am in the middle of rescinding as well, can you please send me your format and let me know if your money was fully refunded?

Thanks!

Click to expand...

Deep@NJ - Did you see the detailed info. about rescinding that I posted in your original thread?

The OP rescinded at a different resort, in a different state, so his instructions will not apply to you.

A friendly request - please keep all your questions and comments in the same thread for continuity.

To the OP, please share your knowledge of this web site to family and friends, so they also, can be educated about timeshare sales and TUG BBS. Good Luck!