Newbie...did I get screwed?

[michele2377 Junior Member Find all posts View Profile Close michele2377]

Alright, I've spent the last few hours cruising the net about our recent timeshare purchase and I'm wondering if we were hustled. I'm hoping someone can either confirm my buyers remorse or tell me we'll be alright.

We purchased a Interval International timeshare at Williamsburg Plantation in Williamsburg VA. this weekend. (A premier resort)Now that I'm a little more versed in the biz by my last few hours of searching I'm knowledgable enough to say that the yellow week 1 we've purchased probably isn't that wanted by anyone else. But....I'd like some other points of view.

Are all of the horror stories about exchanging our weeks really going to come true? Is it really going to be that hard to trade for our dream vacations? We have our 7 days to cancel with a full refund and I want to make sure we made the right choice before that time runs out.

According to the sales peeps..."just exchange your weeks, its no biggy...anywhere in this HUGE bible of travel ..you just pick where you want to go and when and voila!!!"....
BUT..According to all these different complaint boards...."omg, I wanted a 2 bedroom in the bahamas during March and I ended up with a studio in Compton in December".... Is it really that bad???

And this isn't even scratching the surface of our "one bonus week a year" ...honestly - is this something we'll even be able to actually use??

Bottom line is we paid 9k for a bi-annual 4 bedroom , yellow, week one package. 340$ a year maint costs. One bonus week a year , a gold pkg with the card that sup gets your all of your hearts desires for FREE!! 12 weekly getaways a year to use whenever, and a sales managers personal cell phone number to call whenever we want to stay at his Las Vegas resort for free without using our "weeks". ......Did we do good/or did we get snookered?

[slip Contributor - Bronze Find all posts View Profile Close slip]

Rescind!!!

You can research and get that for almost nothing, let alone $9,000.
Besides that, trading isn't like making a reservation. You need to plan ahead
and be flexible. If you can do that you can get some nice trades.
As far as buying a timeshare, buy where you want to go.

Good Luck but rescind immediately and follow the instructions exactly.

[calgal Senior Member Find all posts View Profile Close calgal]

You can buy the same thing (actually better) for almost nothing resale. Go to ebay and look at completed sales for Williamsburg timeshares to see recent purchase prices. RESCIND ASAP! We love timeshares, but do not like to see folks lose thousands of dollars buying from the developer. Besides, your timeshare, due to location and time of year, would not trade well, despite what you were told. Don't call the salespeople; send your rescission exactly according to directions and keep proof of mailing. Good luck!

[taffy19 Gold Contributor Find all posts View Profile Close taffy19]

Rescind and do it before the rescission period runs out for you. Also, follow instructions exactly as it is spelled out in your contract and keep a copy for yourself. If you have to do it by USPS, send it certified with proof that the developer received your cancellation.

Normally, you don't need a reason why you cancel but you need to sign and date it. Read the instructions and follow them exactly and you will get your deposit back.

There will be many opportunities to buy again and save a lot of money. Buying is easy but selling today is not.

[StressCadet Senior Member Find all posts View Profile Close StressCadet]

Agreed. Rescind. Adding NOT to call and ask how to rescind because the sales tactics will get stronger. Read the contract-follow the directions. Overnight it if you have to or are back home. DO IT NOW.

Once you have that monkey off your back and still think timeshare can work for you-come back and READ even more. If you think you still like the idea-then we can steer you towards a sensible RESALE purchase for you and your family.

[ArtsieAng Super Moderator Find all posts View Profile Close ArtsieAng]

Rescind and do it before the rescission period runs out for you. Also, follow instructions exactly as it is spelled out in your contract and keep a copy for yourself. If you have to do it by USPS, send it certified with proof that the developer received your cancellation.

Normally, you don't need a reason why you cancel but you need to sign and date it. Read the instructions and follow them exactly and you will get your deposit back.

There will be many opportunities to buy again and save a lot of money. Buying is easy but selling today is not.

Completely agree....Rescind now, and then learn all you need to learn, before purchasing a timeshare. You will regret it, if you don't!

[Carolinian Super Moderator Find all posts View Profile Close Carolinian]

There is almost no timeshare where a developer purchase is a good deal. Rescind and buy a week resale for pennies on the dollar. For a lot less money, you can buy a week that will trade much much better.

[tonyg Goomba & Super Moderator Find all posts View Profile Close tonyg]

Rescind now and if you think that was a mistake, you can always come to me and I'll give you a week free at that resort---a floating week(1-52).

[michele2377 Junior Member Find all posts View Profile Close michele2377]

Thank you all so much!! YOu guys just made a stressful weekend less so. We feel so much better about our new buyer jitters now. Husband has already typed up the letter and we will be mailing it certified tomorrow.

We are still keen on the idea of owning a timeshare but probably in a better resort. (MY dream would be Atlantis but we still have tons of research to do now).

Again, thank you so much for the quick responses and the honesty. I'm sure you'll see me pop up time to time with tons of questions as we research resales in our dream resorts.

And TonyG...thanks so much! We'll probably never take you up on that offer though. We can't envision wanting to stay in Williamsburg for a whole week .

[JWC Super Moderator Find all posts View Profile Close JWC]

...We can't envision wanting to stay in Williamsburg for a whole week .

Then why would you buy a timeshare there? If you were planning on exchanging it then you would need a prime week in order to get anything.

You should always buy where you would want to stay if possible. Exchanges are not a guarantee. If you plan to exchange then buy a prime week at at a prime location where supply does NOT exceed demand. Buy resale and pay attention to the maintenance fees as those are the real problem with many timeshares.

You should rent first before buying.

[tonyg Goomba & Super Moderator Find all posts View Profile Close tonyg]

Williamsburg has more than enough to keep one busy for a week, plus it's not that far (about an hour) from Virginia Beach.

[dcwojo Senior Member Find all posts View Profile Close dcwojo]

Thank you all so much!! YOu guys just made a stressful weekend less so. We feel so much better about our new buyer jitters now. Husband has already typed up the letter and we will be mailing it certified tomorrow.

We are still keen on the idea of owning a timeshare but probably in a better resort. (MY dream would be Atlantis but we still have tons of research to do now).

Again, thank you so much for the quick responses and the honesty. I'm sure you'll see me pop up time to time with tons of questions as we research resales in our dream resorts.

And TonyG...thanks so much! We'll probably never take you up on that offer though. We can't envision wanting to stay in Williamsburg for a whole week .

Since you are rescinding take some time to learn from people on this site. Most of the responses you got are from the most informed timeshare people anywhere. I have gained a lot of knowledge from them. Research resorts to find one you would like that is well maintained with good management and reasonable maintenance fees. Some companies offer points systems which are more flexible about when and where you can go.