Closing cost refund in Mexico

[wvmtlion]

A friend of mine sat through a very high pressure timeshare meeting that lasted almost 7 hours last week at El Cid Marina in Mexico. We ended up signing a contract but sent a cancellation letter two days later. The contract stated that we had 5 working days to cancel without penalty.
The resort acknowledged receipt of our cancellation letter but informed us that they were entitled to keep almost $5000 of our money due to some addendum in contract.
After four days, they sent an email stating that they would only be keeping the closing cost. This is over $2000.

Is this legal? Mexican law and the contract said the terms of cancellation was 5 working days WITHOUT PENALTY.

 

[Passepartout]

A friend of mine sat through a very high pressure timeshare meeting that lasted almost 7 hours last week at El Cid Marina in Mexico. We ended up signing a contract but sent a cancellation letter two days later. The contract stated that we had 5 working days to cancel without penalty.
The resort acknowledged receipt of our cancellation letter but informed us that they were entitled to keep almost $5000 of our money due to some addendum in contract.
After four days, they sent an email stating that they would only be keeping the closing cost. This is over $2000.

Is this legal? Mexican law and the contract said the terms of cancellation was 5 working days WITHOUT PENALTY.

Ask THEM! They are only marginally subject to U.S. law. My experience is that they will honor their promises, but only IF you turn them in to proper authorities. Copy all correspondence to PROFECO. What you describe is illegal- even by Mexican standards.

Jim

 

[PamMo]

Also, if you put the deposit on a credit card, immediately contact your cc company and dispute the charge.

 

[wvmtlion]

Also, if you put the deposit on a credit card, immediately contact your cc company and dispute the charge.

I disputed the charge with the cc as soon as the charge was no longer pending. They are still researching the claim.

 

[wvmtlion]

Also, if you put the deposit on a credit card, immediately contact your cc company and dispute the charge.

I disputed the charge with the cc as soon as the charge was no longer pending. They are still researching the claim

Ask THEM! They are only marginally subject to U.S. law. My experience is that they will honor their promises, but only IF you turn them in to proper authorities. Copy all correspondence to PROFECO. What you describe is illegal- even by Mexican standards.

Jim

Ask THEM! They are only marginally subject to U.S. law. My experience is that they will honor their promises, but only IF you turn them in to proper authorities. Copy all correspondence to PROFECO. What you describe is illegal- even by Mexican standards.

Jim

I sent an email to PROFECO with copies of the contract that stated terms of cancellation was 5 working days without penalty, a copy of our cancellation letter and request for a full refund, and a copy of proof that they received the cancellation letter.

I guess I just need to sit and wait.
Just didn't know if they normally try to keep closing costs and if they are usually successful at doing so.

 

[rpennisi]

I disputed the charge with the cc as soon as the charge was no longer pending. They are still researching the claim


I sent an email to PROFECO with copies of the contract that stated terms of cancellation was 5 working days without penalty, a copy of our cancellation letter and request for a full refund, and a copy of proof that they received the cancellation letter.

I guess I just need to sit and wait.
Just didn't know if they normally try to keep closing costs and if they are usually successful at doing so.

As time goes on, and purchasers learn and act quickly on their recision rights within 5 days of purchase, TS sellers keep thinking up new ways for keeping some of the buyer's money. They want to charge them for perks given, upgrades, and now, closing costs. SMH

 

[PamMo]

I disputed the charge with the cc as soon as the charge was no longer pending. They are still researching the claim


I sent an email to PROFECO with copies of the contract that stated terms of cancellation was 5 working days without penalty, a copy of our cancellation letter and request for a full refund, and a copy of proof that they received the cancellation letter.

I guess I just need to sit and wait.
Just didn't know if they normally try to keep closing costs and if they are usually successful at doing so.

Some timeshare sales scum will do anything to get your money. They’re paid on commission, so cancelling a sale is personally painful. That’s no excuse to lie about being able to keep your deposit. They hope giving part of it back will make you think you won a partial victory and walk away. You should get 100% of your deposit back.

It looks like you’ve done everything you need to do to cancel the contract. Inform the resort (make sure it’s the address on the contract, not the sales person) and your cc company that you’ve filed an official complaint with all documentation to PROFECO. Keep good records and let us know when it’s resolved. We like happy endings here on TUG!

 

[foxstamp]

A friend of mine sat through a very high pressure timeshare meeting that lasted almost 7 hours last week at El Cid Marina in Mexico. We ended up signing a contract but sent a cancellation letter two days later. The contract stated that we had 5 working days to cancel without penalty.
The resort acknowledged receipt of our cancellation letter but informed us that they were entitled to keep almost $5000 of our money due to some addendum in contract.
After four days, they sent an email stating that they would only be keeping the closing cost. This is over $2000.

Is this legal? Mexican law and the contract said the terms of cancellation was 5 working days WITHOUT PENALTY.

I am at El Cid in Puerto Morales. The same resort your friend was at. I have a meeting to cancel my contract today. Within 5-day period. There is NO PENALTY except they must pay for the value of any special benefits they used. Such as a special dinner or boat ride like we did when we signed our first contract. We are canceling today not due to El Cid. We had unexpected bad news on a lawsuit in USA and we are here. Very disturbing time for us right now. If there is anything I can do let me know. Unfortunately I leave Saturday. PS: I have already beaten their onsite lawyer TWICE over wording right in their contract. I wish I had more time to help you. I would gladly do it pro bono.

 

[TheTimeTraveler]

I am at El Cid in Puerto Morales. The same resort your friend was at. I have a meeting to cancel my contract today. Within 5-day period. There is NO PENALTY except they must pay for the value of any special benefits they used. Such as a special dinner or boat ride like we did when we signed our first contract. We are canceling today not due to El Cid. We had unexpected bad news on a lawsuit in USA and we are here. Very disturbing time for us right now. If there is anything I can do let me know. Unfortunately I leave Saturday. PS: I have already beaten their onsite lawyer TWICE over wording right in their contract. I wish I had more time to help you. I would gladly do it pro bono.

Forget the in person meeting to rescind your contract. They will only try and talk you out of it, offer you a better price, or delay you beyond the five day rescission time.

Your best bet is to go to the local Mexican Post Office and mail your rescission via REGISTERED MAIL and retain a copy of your Postmarked Postal Receipt.

Best of luck!







.

 

[WaikikiFirst]

every time I see a new thread about a new purchase of a Mexican TS, I expect to alternately laugh and feel my eyes bleed.
This one gave me both on the very 1st sentence. It is like some alt-universe.
No doubt we will turn off our phones and unplug the room phone when we go to Cabo this fall.
Maybe I can say "Yes, I'm married but that isn't my wife with me." Maybe that'd make them refuse to try to sell me anything.

oh, a question: How many margaritas were involved?

 

[rpennisi]

every time I see a new thread about a new purchase of a Mexican TS, I expect to alternately laugh and feel my eyes bleed.
This one gave me both on the very 1st sentence. It is like some alt-universe.
No doubt we will turn off our phones and unplug the room phone when we go to Cabo this fall.
Maybe I can say "Yes, I'm married but that isn't my wife with me." Maybe that'd make them refuse to try to sell me anything.

oh, a question: How many margaritas were involved?

If you say a definite "no" at the onset, then there is no reason to shut off your phone or say you're with your gf and not your wife. You may miss an important call from home.

 

[WorldT]

7 hrs. . I will have a headache after 2 hrs. If they ever offer something worthwhile, I set an alarm on my phone and tell the sales guy the alarm has started and it will ring loudly when it is time to go. He/she better hurry.

 

[easyrider]

After four days, they sent an email stating that they would only be keeping the closing cost. This is over $2000.

Yes, you are to receive all of the amount paid. Every cent. You will likely have to do a fraud claim with your credit card.

Email the resort and let them know you are going to complain all over the internet using your social media and travel websites. Go to their Facebook page and complain. Also let them know you will send fraud complaints about them to the FTC , your States Attorney Generals Office, BBB and the FBI's crime complaint center.

Bill

 

[foxstamp]

A friend of mine sat through a very high pressure timeshare meeting that lasted almost 7 hours last week at El Cid Marina in Mexico. We ended up signing a contract but sent a cancellation letter two days later. The contract stated that we had 5 working days to cancel without penalty.
The resort acknowledged receipt of our cancellation letter but informed us that they were entitled to keep almost $5000 of our money due to some addendum in contract.
After four days, they sent an email stating that they would only be keeping the closing cost. This is over $2000.

Is this legal? Mexican law and the contract said the terms of cancellation was 5 working days WITHOUT PENALTY.

I responded last week. I was at El Cid then. Home now. I currently have a cancellation dispute. I found definitive answer at airport layover. Article 56 of the Mexican Consumer Law. Cancellation within the 5-day period makes the contract “NULL AND VOID.” “All payments shall be returned.” Just quote Article 56 and send to the email at the top of the contract and also file a complaint with Profeco.