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Cancelled purchase

spinmom1018

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My husband and I caved in after an exhausting timeshare presentation. We knew what was involved in the presentation and made a plan to escape ASAP. Long story short we decided to buy in to the Hyatt Portfolio program. I was uneasy with the purchase immediately. The whole process had worn me down, I feel as if I just surrendered. We arrived at 11:30 and didn’t leave until nearly 4:00 and I hadn’t eaten the entire day. The following day my husband read over the entire package cover to cover. He found a lot of hidden fees. This furthered my original feelings about the purchase and I asked my husband to contact the salesman to cancel the purchase. For some unknown reason my husband was under the impression that there was a cancellation form included in the document package that he couldn’t find. Also, our salesman told my husband he was going to call back with his “manager” on the line. My husband was led to believe this was necessary in the cancellation process. That call was rescheduled several times because the salesman was first “sick” then he had a “family emergency.” In the interim the manager had documents that were unsigned by us during the original sale. He sent them to us via FedEx the following day. Included was a letter from the same manager stating the documents were needed to complete our purchase. We never returned the documents to them as we were cancelling the purchase. My husband finally was told by our salesman that cancellations had to be sent in writing to Orlando. Due to all my this wasted back and forth and misinformation too late, our letter to rescind was received on day 13. They are refusing to return my deposit of $1840 and are only refunding the closing costs of $440. My question is in regards to the Florida Statutes stated in the recision process. Since we did not sign all of the documents necessary to complete the purchase, therefore not receiving copies of said documents, wouldn’t this negate the sale in its entirety? I would greatly appreciate all input on this. Thank you.


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Passepartout

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Long story short we decided to buy in to the Hyatt Portfolio program. I was uneasy with the purchase immediately. The whole process had worn me down that I feel as if I just surrendered.

The following day my husband read over the entire package cover to cover. He found a lot of hidden fees. This furthered my original feelings about the purchase and I asked my husband to contact the salesman to cancel the purchase. For some unknown reason my husband was under the impression that there was a “form for cancellation. Also, our salesman told my husband he was going to call back with his “manager” in the line. My husband was led to believe this was necessary in the cancellation process. That call was rescheduled several times because the salesman was first “sick”then had a “family emergency.” In the interim the manager had documents that were unsigned by us during the original sale

My husband finally was told by our salesman that cancellatis had to be sent in writing to Orlando. Due to all my this wasted back and forth and misinformation too late, our letter to rescind was received on day 13. They are refusing to return my deposit of $1840 and are only refunding the closing costs of $440. My question is in regards to the Florida Statutes stated in the recision process.

Since we did not sign all of the documents necessary to complete the purchase, therefore not receiving copies of said documents, wouldn’t this negate the sale in its entirety? I would greatly appreciate all input on this. Than you.

We're sorry you didn't find us in time. Hyatt is a pretty honorable outfit as TS outfits go, but they are bound by laws and a greedy salesweasel trying to save his commission will do whatever it takes to delay you past the rescission cut-off, which in Florida is 10 days. It doesn't matter when they RECEIVE the letter, the date that matters is when it was postmarked. If you missed that date, they don't HAVE TO honor the rescission at all, and frankly to allow the rescission and withhold some $1400 for doing it might well be the best you can hope for. It still saved you $10s of thousands.

Jim
 

Talent312

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When was the letter postmarked? Within 10 days of the sale, you're good.
If not, you're at their mercy and what they do, that's all you're gonna get.
Stop talking to the salesman. He has no role in the cancellation process.
There were rescission instructions in the contract (usually near the end).
No form was ever needed. All you needed to do was give a written notice
... postmarked within 10 days.
 

Terri05

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We just got back from a week at the Grand Luxxe Jungle Riviera Maya. Our only regret was going to the time share presentation. They offered to pay 1/2 the resort fee (which was $30 a day per person, there was 2 of us). We were there for 8 hours, mostly because my husband asked so many questions. The pitch sounded good, trade in our 3 timeshares and never have to pay a yearly fee again for one of their resorts. Of course you had to pay the transfer fee of $1898 for each one you owned, we were told that at the very end. Went back to the room and my husband researched everything they said and decided this was no better than what we had and one of the things they told us wasn't true. When we were there he asked them if we could leave, think about it and come back and of course you get that sales pitch, this is a one time offer. We went back on Friday and cancelled, no problem. Then got another pitch to join the Private Reserve Travel Collection after a great offer, we took it. Not sure yet if it was worth it, but will soon find out. We use our timeshares a lot and when we don't, our kids use them. Has anyone out there used the PRTC? I talked with a woman , I met at the resort who signed up for it a year ago and loved it, she said she never had a problem getting what she wanted. In fact she was there on one of those weeks.
 

Passepartout

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Terri05, we feel that ALL developer purchases are overpriced. Personally, I think that once Vidanta gets their claws into you, there is a never-ending, escalating level of costs. They lie. Like the 'This deal is ONLY good for today'. Bull! The deal is good tomorrow, next week, next month.

So, how much did they get for this latest deal from you? Obviously, you saw value there and are experienced timesharers, but we honestly feel you can do better. I'd strongly suggest you rescind, and think about the offer. It will still be available in the future if you decide it's for you, but by then, you could well contact other similar owners. You only get one chance to back out. Take it.

Jim
 
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