Vistana Rescission, Want to Learn About TimeShares / Vacation Clubbin'

[maximus18]

So...

My wife and I are extraordinarily busy young professionals... she is finishing up her BSN (she went back to school in her late 20s) and I am finishing my anesthesia residency. Last week, we finally took a long-overdue vacation to Key West, Melbourne Beach, and finally to Orlando, FL. While I was in the USAF and previously lived in the Cocoa Beach area wihle stationed at Patrick AFB. Our Epcot (Orlando) evening ended at the Vistana Lake Buena Vista, which we greatly enjoyed. The unit was spacious and the beds were comfortable. I plotted to reduce some vacation expense by sitting through a one-hour timeshare presentations. (Ut oh!)

Long story made short, my wife and I were vacation-excited and naive and purchased the Vistana Flex 37k every other year (a very small value for a lot of money). My wife was enamored with talk of Getaways and Gold/Preferred status, and I liked the idea of having one awesome vacation every other year.

I spent the last 24 hours learning how misguided we were. I have drafted my letter of rescission.

We did get the SPG Amex, and we intend to use it. The straw that broke the camel's back was when I called Vistana services and asked bluntly -- will I ever be able to spend 5-7 days in one of the hawaii resorts or the Vail resort during winter. The answer was as close to "no" as is possible.

Here's the thing... I like the idea of a flex option with a larger company like Marriott/Hyatt/Sheraton. Can someone direct me to a good recent comparison of these companies' vacation clubs. OR, is there a good consensus as to whicih would be good to go with.

The subtext is that... I paid too much for too little. How can I do the exact same thing but obtain more value?

Thanks for your help in advance!

 

[WalnutBaron]

So...

My wife and I are extraordinarily busy young professionals... she is finishing up her BSN (she went back to school in her late 20s) and I am finishing my anesthesia residency. Last week, we finally took a long-overdue vacation to Key West, Melbourne Beach, and finally to Orlando, FL. While I was in the USAF and previously lived in the Cocoa Beach area wihle stationed at Patrick AFB. Our Epcot (Orlando) evening ended at the Vistana Lake Buena Vista, which we greatly enjoyed. The unit was spacious and the beds were comfortable. I plotted to reduce some vacation expense by sitting through a one-hour timeshare presentations. (Ut oh!)

Long story made short, my wife and I were vacation-excited and naive and purchased the Vistana Flex 37k every other year (a very small value for a lot of money). My wife was enamored with talk of Getaways and Gold/Preferred status, and I liked the idea of having one awesome vacation every other year.

I spent the last 24 hours learning how misguided we were. I have drafted my letter of rescission.

We did get the SPG Amex, and we intend to use it. The straw that broke the camel's back was when I called Vistana services and asked bluntly -- will I ever be able to spend 5-7 days in one of the hawaii resorts or the Vail resort during winter. The answer was as close to "no" as is possible.

Here's the thing... I like the idea of a flex option with a larger company like Marriott/Hyatt/Sheraton. Can someone direct me to a good recent comparison of these companies' vacation clubs. OR, is there a good consensus as to whicih would be good to go with.

The subtext is that... I paid too much for too little. How can I do the exact same thing but obtain more value?

Thanks for your help in advance!

Hi Maximus, and welcome to TUG! You've already done a very wise thing--you've found TUG in time, read about how to rescind, and written your rescission letter in plenty of time. Before you do anything else, be sure to complete the following: send the letter certified mail, return receipt requested. That way, no one on the other end can claim the letter was never received, and you will have a record of someone having signed for it. Make sure you address it to the exact address listed on your Vistana contract.

Once that's done, I suggest you relax, read the TUG boards as much as you can, and get familiar with the various systems, as all are different and have different features and benefits.

With regard to your first purchase, I would make the following suggestions:

1. BUY RESALE. I'm sure this goes without saying after your experience of overpaying from the developer. The best places to look for resale offers are Redweek.com and right here on the TUG Marketplace.
2. Buy in a system that has good internal trade opportunities for a resale buyer. Vistana is a bit confusing, in that they have so-called "mandatory" and "voluntary" resorts. Mandatory resorts will allow you as a resale owner to trade internally in the Vistana system. Voluntary resorts will not. You can learn which resorts are which by reading the stickies on the Vistana Forum. Hyatt and Hilton allow you as a resale buyer/owner to trade freely within those systems.
3. With regard to external trades through Interval Interational (II) or RCI, most Vistana resorts will trade well, most Hiltons will trade well, and all Marriotts and Hyatts will trade well.
4. Don't buy a home resort location that is in an overbuilt location. Orlando and Las Vegas are probably the most overdeveloped locations. Why do I advise not buying there? Because you can trade into those locations at a very nice resort at virtually any time of year. Trading in is easy, but trading with those locations is generally not.
5. To decide which system works best for you, read the various forums for each system. If you're looking for luxury, I recommend Hyatt. All of the Hyatt resorts are premier quality. Almost all Marriotts also garner very high ratings. Vistana is a bit of a mixed bag, although virtually all of the Westin branded resorts are very highly-rated. Hilton has quite good quality, but some resorts are higher-rated than others.

If you follow these tips, you will eventually find what you're looking for and get great value out of your ownership.

Enjoy!

 

[maximus18]

Huge fan of the Marriott hotel system. How does the Marriott Vacation club compare in terms of simplicity, value on the II when used in trades, etc? The trouble about being a novice is not knowing what I don't know.

 

[vacationtime1]

Rent a few times; you will learn what is important to you and what you can do without (quality, location, season, view, etc.).

Take your time. Research. Resale prices are not going up.

 

[zerodegre]

you only paid 7k... Be aware that any resale will not get you Flex/Gold SPG and marriott for life / or options unless you buy a mandatory resort... of which the mait will be high! The package you bought might be the best value for just getting the gold for life.. Also 37k will get you a week in most places except Hawaii

 

[VacationForever]

you only paid 7k... Be aware that any resale will not get you Flex/Gold SPG and marriott for life / or options unless you buy a mandatory resort... of which the mait will be high! The package you bought might be the best value for just getting the gold for life.. Also 37k will get you a week in most places except Hawaii

Not sure where you get most of your information from.

Mandatory resort MF is no higher than voluntary resorts MF. MF has to do with the location, quality and size of the unit. 37K Flex Options get you the lowest season (undesirable season) at a studio unit in several Vistana resorts. Rescind. If you want to book through the internal system and low entry cost, look for Sheraton Vistana Villages (Key West and Bella phases only), preferably in the highest/prime season as the MF for both the prime and lower seasons are the same. Prime season gets you more Star Options for the same MF. 2BR / 2BR Lockoff SVV costs about 1K in purchase price and comes with 81K / 95.K Star Options respectively, enough for a 1BR in Hawaii.

 

[zerodegre]

key west and Bella do have the highest mait fee.... by far

81000 options in Flex is about 1235... 81000 in Bella and Key west is about 1600

my information was on point

 

[VacationForever]

key west and Bella do have the highest mait fee.... by far

81000 options in Flex is about 1235... 81000 in Bella and Key west is about 1600

my information was on point

The best way to describe your posts is that you have no clue what you are talking about.

This is right off the Vistana Maintenance Fees sticky on the Vistana sub-forum:

Sheraton Vistana Villages - Bella 2BR Prime Season

2018 OPERATING ASSESSMENT $791.30
2018 REPLACEMENT RESERVES $237.64
2018 ESTIMATED REAL ESTATE TAX $139.67
2018 TOTAL $1168.61

 

[LisaH]

Two things:
1. See if you are still within rescission period. If you are, try to cancel the contract.
2. If you are out the rescission period, call your sales rep to see if you could requalify a resale week within the next few months.

 

[Mosescan]

So...

My wife and I are extraordinarily busy young professionals... she is finishing up her BSN (she went back to school in her late 20s) and I am finishing my anesthesia residency. Last week, we finally took a long-overdue vacation to Key West, Melbourne Beach, and finally to Orlando, FL. While I was in the USAF and previously lived in the Cocoa Beach area wihle stationed at Patrick AFB. Our Epcot (Orlando) evening ended at the Vistana Lake Buena Vista, which we greatly enjoyed. The unit was spacious and the beds were comfortable. I plotted to reduce some vacation expense by sitting through a one-hour timeshare presentations. (Ut oh!)

Long story made short, my wife and I were vacation-excited and naive and purchased the Vistana Flex 37k every other year (a very small value for a lot of money). My wife was enamored with talk of Getaways and Gold/Preferred status, and I liked the idea of having one awesome vacation every other year.

I spent the last 24 hours learning how misguided we were. I have drafted my letter of rescission.

We did get the SPG Amex, and we intend to use it. The straw that broke the camel's back was when I called Vistana services and asked bluntly -- will I ever be able to spend 5-7 days in one of the hawaii resorts or the Vail resort during winter. The answer was as close to "no" as is possible.

Here's the thing... I like the idea of a flex option with a larger company like Marriott/Hyatt/Sheraton. Can someone direct me to a good recent comparison of these companies' vacation clubs. OR, is there a good consensus as to whicih would be good to go with.

The subtext is that... I paid too much for too little. How can I do the exact same thing but obtain more value?

Thanks for your help in advance!

Start with this.

https://tugbbs.com/forums/index.php?threads/what-to-buy-questions-for-newbies.208742/

 

[Mosescan]

Then read this.

https://tugbbs.com/forums/index.php...jor-point-system-timeshare-developers.256032/

 

[maximus18]

you only paid 7k... Be aware that any resale will not get you Flex/Gold SPG and marriott for life / or options unless you buy a mandatory resort... of which the mait will be high! The package you bought might be the best value for just getting the gold for life.. Also 37k will get you a week in most places except Hawaii

Can I add additional star option points to my package... for instance, can I purchase resale flex points to supplement a retail package (best of both worlds).

I am most interested now in marriott’s system as I like their 80 resorts better than vistana’s 21. Their resale penalty is obscene — 2$ per point plus a 300 USD education fee. Could I use this option with them to avoid this fee?

Just trying to learn the system.

 

[taterhed]

you only paid 7k... Be aware that any resale will not get you Flex/Gold SPG and marriott for life / or options unless you buy a mandatory resort... of which the mait will be high! The package you bought might be the best value for just getting the gold for life.. Also 37k will get you a week in most places except Hawaii

Here's the REAL point: What you bought might be the absolute BEST developer package ever sold to any human in the entire history of the planet Earth! That doesn't matter one bit.

• Rescind NOW!: you are unsure, you are not educated and you have not spent any real time researching or planning or deciding what might be best for you and your families vacation needs and goals. Excited? Great. Take time to study, decide, agree and purchase (if appropriate) the best solution for your family--on your own terms and timeline
• Rescind NOW!: anything, any deal, virtually any offering that was given to you can still be had next week or next month...maybe even next year. Not always the case, but almost 99% certainty in your case. However, you only have ONE TIME to rescind this developer purchase, and that is now, within 10 days.....
  • In Florida, if you buy a timeshare, you can cancel the timeshare contract up until midnight of the 10th calendar day following:
    • the date you signed the contract, or the day on which you received the last of all required documents, whichever occurs later (Fla. Stat. Ann. § 721.10 (1)).
  • This right of cancellation may not be waived. If you want to cancel the purchase contract, you must notify the seller in writing. If you do this, the timeshare company must refund to you the total amount of payments, reduced by the value of any benefits received, within:
    • 20 days after it receives your notice of cancellation, or
    • within five days after it receives the funds from your cleared check, whichever is later. (Fla. Stat. Ann. § 721.10 (3)).
• Don't rush! : Now is the time to study, pick and choose. Buy smart and buy the right solution the first time. Maybe you'll buy more than one, but don't buy the WRONG solution and then regret it...sell it and loose money. Many people choose to rent a few times to get the flavor of the resort or timeshare system (Hyatt, HGVC, Marriott, Vistana etc...) Rentals can often be made at or below the maintenance fee cost of owning. It depends on the location and season. But, you can definitely get a feel for the resort--even in a shoulder or off season--and often at very low rates.

Glad you found TUG! Consider joining; one of the best $15 investments you'll ever make.

I'm not just a spokesman (I'm kidding, I'm not affiliated) I'm an owner! I have two Marriott weeks and love them.

Marriott is a very good system for occupying and for trading. Legacy weeks (not points) trade very well in Interval Exchange and have a 'preference' period for Marriott-Marriott trades that gives you a better chance of getting what you want.

Anyway, cheers and welcome!

 

[taterhed]

Can I add additional star option points to my package... for instance, can I purchase resale flex points to supplement a retail package (best of both worlds).

I am most interested now in marriott’s system as I like their 80 resorts better than vistana’s 21. Their resale penalty is obscene — 2$ per point plus a 300 USD education fee. Could I use this option with them to avoid this fee?

Just trying to learn the system.

Easy there big fella....

First, suggest you insure that you are fully rescinded: Letter referencing the contract number and signed by all parties on contract, sent by certified mail, return receipt as instructed in the contract documents (to the specified address etc....).

Second, there are very few reasons to purchase from the developer. You should fully understand these reasons before proceeding. Developer purchases can be made anytime. Rescinding is a one-time deal. Rescind now, then think about it.

Marriott points (also called DC points or MVC points etc...) are flexible. But, they are quite expensive--both purchase price (resale) and maintenance fees (MF)--and are not the best value for most people. The post above by MosesCan lists the 'what to buy for Newbies...' link. It's very good. Complete it and the group can offer ideas.

Marriott resale points run about $7 per point (all-in) and have better than .50 a point MF's. Not cheap.
Marriott legacy weeks are much more affordable, can be 'locked-off' or split into two weeks for the price of one (kinda) and have excellent exchange opportunities with Interval.
I'm NOT suggesting you buy a Marriott 'trader' week, that would be premature, because I have no idea what would work for you.

Complete the survey, get some ideas and take it slow.
Buy smart, Buy once. Don't rush.

Words to live by.

 

[DK1456]

Here's the REAL point: What you bought might be the absolute BEST developer package ever sold to any human in the entire history of the planet Earth! That doesn't matter one bit.

• Rescind NOW!: you are unsure, you are not educated and you have not spent any real time researching or planning or deciding what might be best for you and your families vacation needs and goals. Excited? Great. Take time to study, decide, agree and purchase (if appropriate) the best solution for your family--on your own terms and timeline
• Rescind NOW!: anything, any deal, virtually any offering that was given to you can still be had next week or next month...maybe even next year. Not always the case, but almost 99% certainty in your case. However, you only have ONE TIME to rescind this developer purchase, and that is now, within 10 days.....
  • In Florida, if you buy a timeshare, you can cancel the timeshare contract up until midnight of the 10th calendar day following:
    • the date you signed the contract, or the day on which you received the last of all required documents, whichever occurs later (Fla. Stat. Ann. § 721.10 (1)).
  • This right of cancellation may not be waived. If you want to cancel the purchase contract, you must notify the seller in writing. If you do this, the timeshare company must refund to you the total amount of payments, reduced by the value of any benefits received, within:
    • 20 days after it receives your notice of cancellation, or
    • within five days after it receives the funds from your cleared check, whichever is later. (Fla. Stat. Ann. § 721.10 (3)).
• Don't rush! : Now is the time to study, pick and choose. Buy smart and buy the right solution the first time. Maybe you'll buy more than one, but don't buy the WRONG solution and then regret it...sell it and loose money. Many people choose to rent a few times to get the flavor of the resort or timeshare system (Hyatt, HGVC, Marriott, Vistana etc...) Rentals can often be made at or below the maintenance fee cost of owning. It depends on the location and season. But, you can definitely get a feel for the resort--even in a shoulder or off season--and often at very low rates.

Glad you found TUG! Consider joining; one of the best $15 investments you'll ever make.

I'm not just a spokesman (I'm kidding, I'm not affiliated) I'm an owner! I have two Marriott weeks and love them.

Marriott is a very good system for occupying and for trading. Legacy weeks (not points) trade very well in Interval Exchange and have a 'preference' period for Marriott-Marriott trades that gives you a better chance of getting what you want.

Anyway, cheers and welcome!

Hi, I mailed my cancellation letter on 10/16 and It was delivered on 10/17 which is all within the 10days cancellation policy. When should I expect my refund? If I won’t get my refund within the 20days, what should I do? Any advice please? Thank you so much.

 

[Grammarhero]

Hi, I mailed my cancellation letter on 10/16 and It was delivered on 10/17 which is all within the 10days cancellation policy. When should I expect my refund? If I won’t get my refund within the 20days, what should I do? Any advice please? Thank you so much.

Just wait. Don’t call. They are legally required to profess your rescission within 45 days

If you call, they will likely try to convince you to buy again. We even received a report of a Ts company falsely saying that a rescinded owner accepted a new, revised offer. The thread of below. https://tugbbs.com/forums/index.php...-timeshare-merged.208087/page-15#post-2309794

How much would you save with rescission?

 

[DK1456]

Hi Grammarhero!
Thank you so much for your response. It takes 45days for them to process the refund, but my contract states 20days. Also my credit card billing statement is due in 3 Weeks. Any chance I can dispute the charge with credit card company? Thank you much

 

[Grammarhero]

Hi Grammarhero!
Thank you so much for your response. It takes 45days for them to process the refund, but my contract states 20days. Also my credit card billing statement is due in 3 Weeks. Any chance I can dispute the charge with credit card company? Thank you much

I would say if 20 days has passed, dispute the charge while giving the cc company a copy of the rescission documents.

To track how much TS owners saved, mind sharing how much you saved with rescission? As half of tuggers initially bought developer/resort TS, there is no shaming.

 

[DK1456]

I bought a small flex vacation plan 25800 points in $10490 plus administration fee. Reviewed my contract, lots of thing including membership fee and other fee that were not mentioned to me by the seller. I decided to cancel and mailed them my cancellation letter on day 6 of the 10 day cancellation period.

 

[taterhed]

they

Hi Grammarhero!
Thank you so much for your response. It takes 45days for them to process the refund, but my contract states 20days. Also my credit card billing statement is due in 3 Weeks. Any chance I can dispute the charge with credit card company? Thank you much

My thoughts:

• If you processed an appropriate and timely rescission letter, they are bound to respond in accordance with statutory law(s) and the contract.
• If you signed a legal and binding contract, a legal and binding application for credit (card), agreed to the LOC terms; then YOU are bound to respond in accordance etc....

Some people claim to have disputed the debt and reported no ill effects (at least during the short term of the post). But, keep in mind: If you dispute the charges, it's possible to run afoul of the law if you don't have a valid legal claim.

I doubt they would intentionally attempt to illegally hinder your rescission/refund. I'll sure they have a lot of rescissions, and if they routinely failed to comply with the contract/law, they would become prime targets for a class-action suit. Perhaps you could contact the credit company, explain the issue (and provide documents if required) and perhaps they can assist or provide advice on the best way to proceed.

Just a thought

 

[DK1456]

they

My thoughts:

• If you processed an appropriate and timely rescission letter, they are bound to respond in accordance with statutory law(s) and the contract.
• If you signed a legal and binding contract, a legal and binding application for credit (card), agreed to the LOC terms; then YOU are bound to respond in accordance etc....

Some people claim to have disputed the debt and reported no ill effects (at least during the short term of the post). But, keep in mind: If you dispute the charges, it's possible to run afoul of the law if you don't have a valid legal claim.

I doubt they would intentionally attempt to illegally hinder your rescission/refund. I'll sure they have a lot of rescissions, and if they routinely failed to comply with the contract/law, they would become prime targets for a class-action suit. Perhaps you could contact the credit company, explain the issue (and provide documents if required) and perhaps they can assist or provide advice on the best way to proceed.

Just a thought

Should I contact the timeshare company and ask about the rescission?

 

[LannyPC]

It takes 45days for them to process the refund, but my contract states 20days.

Technically that's not correct. They legally have up to 45 days to issue you your refund. Most take less time than that. If they take longer than 20 days but fewer than 45, they're not doing anything illegal.

I know this can be nerve-wracking but try to breathe and relax. As others have said, the developer is legally bound to issue you a refund if you sent in your rescission letter properly such as how to send it, when to send it, and who has to sign it. And as has been pointed out many times on these boards to people in your position, there is no need to contact the TS company or the resort.

 

[DK1456]

Thank you so much LannyPC for your response and advice. I will try to relax. I believe I did everything correctly regarding mailing the cancellation letter. Must I pay cc balance if it is due before I get my refund? Or you think I should talk to cc company and explain the situation? Thank you so much

 

[DK1456]

Just wait. Don’t call. They are legally required to profess your rescission within 45 days

If you call, they will likely try to convince you to buy again. We even received a report of a Ts company falsely saying that a rescinded owner accepted a new, revised offer. The thread of below. https://tugbbs.com/forums/index.php...-timeshare-merged.208087/page-15#post-2309794
I’m so glad I get my refund today. Thank you all sharing me your experiences.
How much would you save with rescission?

 

[jabberwocky]

Can I add additional star option points to my package... for instance, can I purchase resale flex points to supplement a retail package (best of both worlds).

Resale Flex points won't have any StarOptions attached - you can only use them to make a home resort reservation. If one was wanting to get StarOptions with a resale flex package you would have to buy the resale flex package first. Once it is in your name you could then make a minimum $10,000 flex purchase to requalify your resale purchase. Personally I wouldn't do it that way since the MF's are that much more expensive. It would be more effective to just buy a voluntary unit with cheap MF's and requalify it into the system, or if you are solely concerned about using StarOptions buy at a mandatory resort.