Newbie Diamond Resorts Buyers-HELP please

[T_R_Oglodyte]

we RESCINDED:whoopie:

I showed the hubbster, who was really excited about our new timeshare, all the posts esp. the ones that focused on how experienced Diamond users felt that 2500 pts was indeed NOT ENOUGH to do very much with, and that by the time we paid off our points, they could be worth even less. Our benefits just did not justify the $800 approx yearly maintenence fees.
We still like many things about DRI and may join in the future but I did conclude that 2500 pts is not enough and we cannot afford any more.

Thank you for ALL the helpful replies.

Congratulations!!!!

And now to continue the education .....

If you could afford the deal you just rescinded on, you can certainly afford the points that you need. Let's work it out.

You can probably pick up an 8000 point deeded contract for no more than $500, all fees included. That contract will have resort fees of about $900 per year plus the $460 trust fee, which will come out to about $1360/year.

That's about $460 more than the $895 you would have been paying on the contract you rescinded.

I don't see where you gave a purchase figure on the contract you rescinded, but you did mention you would be paying it off over 10 years. And I'm pretty sure that if you add how much you would be paying for those ten years to the annual costs for the 2500 point contract that you rescinded, you will find that you will be paying less per year for the 8000 point contract, while also having three times as many points available.

As a member of the US collection, you can reserve at all resorts in the US collection beginning 12 months before check-in. Resorts in the US Collection include:

- Bent Creek Golf Village - TN
- Cypress Pointe Resort II - FL
- Daytona Beach Regency - FL
- Desert Paradise Resort - NV
- Flamingo Beach Resort - St. Maarten
- Grand Beach Resort- FL
- Island Links Resort - SC
- Greensprings Plantation - VA
- London Bridge Resort - AZ
- Plantation at Fall Creek - MO
- Powhatan Plantation - VA
- Ridge on Sedona - AZ
- Royal Palm Beach - St. Maarten
- Scottsdale Links Resort - AZ
- Scottsdale Villa Mirage - AZ
- Sedona Summit Resort - AZ
- Villas de Santa Fe - NM
- San Luis Bay Inn - CA
- Lake Tahoe - CA

 

[AwayWeGo]

Maybe You Rescinded & Maybe You Just Think You Rescinded.

we RESCINDED:whoopie:

We are still looking it all over-we can send papers on Monday and get it there FED EX by Tues which is the AZ time, recission 7 days starts I day after purchase day.

Here's just 1 more possible thing to worry about.

I could be talking through my hat here because I have never bought a timeshare from a timeshare company & thus I have no experience with rescinding (or not rescinding). Everything I think I know about rescinding a full-freight timeshare purchase comes from reading other people's entries right here on TUG-BBS.

Among the frequent rescission advice put forward by those on TUG who actually know their onions is the importance of precisely following the official rescission & cancellation instructions included with the full-freight purchase documents you received when the timeshare sellers got through with you.

That is, if the instructions say that notification of rescission must be sent by USPS, then that's how it has to be -- not FedEx, not UPS, not DHL, not hand-carried by official courier, not any other way, only USPS. Otherwise the slick timeshare companies can claim your attempted rescission doesn't count because it wasn't done by the specified method within the required time. Whether the DRI people are sticklers about that I do not know -- maybe somebody else on TUG-BBS has relevant insights.

Here's hoping the rescission goes through no matter what mode you used to send it. Nobody who has seen the light about full-freight timeshares should end up stuck with 1 after all just because of technicalities & fine print in the full-freight purchase documents.

-- Alan Cole, McLean (Fairfax County), Virginia, USA.​

 

[DeniseM]

WHEEEEEEWWWWW!!!! THAT WAS CLOSE!!!!

 

[Kd311]

If you are doing research, could I suggest...

You might take a look at Hilton (HGVC). They have lots of flexibility, and the CA resorts one poster was talking about (Marbrisa) are affiliate resorts, along with Palm Springs, LV, Hawaii, Florida, etc. There is 30 day availability in LV at one of the three resorts pretty much all the time (cash $60/night studio, $80, 1 BR, etc). You can book using your points for as little as 3 nights, and it includes RCI membership. We own two HGVC TS and love them! They have good trading power too.

JMHO

Glad you rescinded. We paid $10k to the developer for an EOY TS before we knew better. We bought our 2nd resale and got twice as many points for 1/4 the price.

Good luck with your TS research! If you are itching to use TS in the meantime, just rent one and continue to research until you've done your due diligence and gotten the best deal. It's a buyer's market out there right now!

 

[oceanvps]

We rescinded with Diamond in February by Fax alone as per their instructions (although I made sure I sent it from two different fax machines with confirmations) didn't send in the mailed copy because it doesn't say you have to. I found the rescinding with Diamond quite good - i was expecting "lost" faxes, battles over the deposit etc.... they never acknowledged the faxes, never tried to call to change our minds. We got a letter confirming the cancellation, a refund of our deposit to our credit card and another letter confirming the cancellation. I don't think (or they didn't with us) they play games once you've decided to rescind - thankfully!

Here's just 1 more possible thing to worry about.

I could be talking through my hat here because I have never bought a timeshare from a timeshare company & thus I have no experience with rescinding (or not rescinding). Everything I think I know about rescinding a full-freight timeshare purchase comes from reading other people's entries right here on TUG-BBS.

Among the frequent rescission advice put forward by those on TUG who actually know their onions is the importance of precisely following the official rescission & cancellation instructions included with the full-freight purchase documents you received when the timeshare sellers got through with you.

That is, if the instructions say that notification of rescission must be sent by USPS, then that's how it has to be -- not FedEx, not UPS, not DHL, not hand-carried by official courier, not any other way, only USPS. Otherwise the slick timeshare companies can claim your attempted rescission doesn't count because it wasn't done by the specified method within the required time. Whether the DRI people are sticklers about that I do not know -- maybe somebody else on TUG-BBS has relevant insights.

-- Alan Cole, McLean (Fairfax County), Virginia, USA.​

 

[greeneyes07]

We followed directions to rescind to a T when rescinded, we both faxed and certified mail due to our last few days time frame. Good to hear that Diamond is not shady in this regard.

I sure hope it goes well....I am reading all advice and think we will find a good fit after renting . Oglodyte, the plan you suggested @ 8000 pts with $1360 fees is in fact less than we would have paid with our contract and the resorts in the US Collection may in fact be just fine for now. At that pt level we would do just fine.

Sleep...much easier now that we have made a decision...

 

[GTLINZ]

Holy Cow. I just read this thread and it reminded me of someone standing on a ledge of a skyscraper and EVERYBODY trying to talk them out of jumping. What a suspenseful read. Everyone knows what is going on but the person considering jumping, who stil thinks somehow it may be a good idea even though the crowd is all trying to stop it. Congratulations, GreenEyes - you just saved yourself a ton of remorse and a pile of cash.

As a tugger we all love to timeshare. We just don't want you to be another tragic statistic.... With the wise counsel available here, you will figure out a much cheaper way to start traveling where you want to go and building a lifetime of memories ....

 

[michigander]

Congratulations

I just read this series of posts and was enthralled to get to the conclusion and learn that GreenEyes and accepted the advise of so many. Good job for all! This is exactly what TUG is about. Helping one another based on our experiences. Greeneyes, once you have rented and looked around a bit more, I'm sure you'll find a plan (rent, buy, whatever) that helps you enjoy your vacations. Rescinding now was a wise choice. They key is to be in a system that works well for you, since the whole point is to find a way to make vacations more pleasant than they have been in the past.

I don't know Diamond Resorts, but I do know TUGGERS and they will go the extra mile to help you get the best value for your money, and the best vacation for your family.

 

[jdanler]

OK Tuggers, you don't have to think of a nice way to respond to us keeping the timeshare w/ DRI because...

we RESCINDED:whoopie:

I just bought my second timeshare last week and also rescinded my second timeshare last week. I'm such a sucker huh? But those sales pitches sound so nice.

You made the right decision. I'm looking forward to learning more about time sharing and finding a good deal for much less than I was going to be paying.

 

[SBenowski]

Rescind now!!!!!!!!!!!!

There are many reasons to do so, and I'm sure that others will add so much info that your head will be swimming. But the single overriding reason is what you said - you are trying to understand.

Once you let that rescission period pass, you are locked in. That is a door that shuts and can't be reopened.

But if you rescind, you can collect more information until you are satisfied. If you then decide this is what you want (and I'm sure that you will realize that what you have is a bad deal), you can always go back and get the same deal all over again.

By rescinding you keep both your money and your options. By not rescinding both your money and your options gone. Don't let all of the other information mask that point - rescind so that you can give yourself time and options.

Here is a 3000 annual point ownership that didn't sell for $1

http://cgi.ebay.com/3-000-POINTS-DI...50821223899?pt=Timeshares&hash=item3a661c25db

Like Steve said, right now you have your money and are in control, once the 7 days passes, they have your money and they are in control. 2500 annual points is an awful tiny ownership that costs you all of the overhead up front, then the annual fees are added making this very expensive to get a nice 2 bedroom unit for the family.

There are many systems, in the west Worldmark is very good, Wyndham is also pretty good.

You really need to take a few months and learn what is available and then buy a resale ownership for pennies on the $1 vs retail

Greg

So, tomorrow is the 7th day of my rescission time. I'm faxing the form and letter today to Diamond Resort and I am mailing a certified return signature letter and form tomorrow, which is the 7th day. Am I good as long as the postmark is tomorrow?

 

[LannyPC]

Am I good as long as the postmark is tomorrow?

If you send it certified mail with receipt requested, then the mailing date is what counts and not when the recipient received it.

Welcome to TUG and let us know how things turn out. You will find a lot more helpful information here on TUG than you will get from the sales people who sold you this lump.