Timeshare cancellation, help needed please!

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

Hello everyone,

I just bought a timeshare yesterday from "Mystic Dunes Resort & Golf Club" in FL. I did not want to buy it but my wife insisted and, when we got home, I showed her my math and now we're both remorseful . I am leaving town later today but it will be less than 24 hours since I bought it. I can still go there and cancel everything. All I paid so far was $300 thru credit card plus 2 installments of $325 each for the next month, but they were already run manually on my credit card and signed. My questions are:

01. Is there a grace period and how long is that?
02. I can walk in to the sales office in person to cancel. In this case, what documentation should I bring or request from them?
03. Will there be any penalty? Will I be able ro recover what I've already paid?
04. the documents I signed were handled to me in a CD-ROM. What should I be looking for regarding my cancellation rights?

All advice is appreciated. I hope I can get out of this mess. I still think timeshare is a great program but it is just not a priority for me right now. Thanks.

Carlos

[jerrry94087 Senior Member Find all posts View Profile Close jerrry94087]

Hello everyone,
01. Is there a grace period and how long is that?
02. I can walk in to the sales office in person to cancel. In this case, what documentation should I bring or request from them?
03. Will there be any penalty? Will I be able ro recover what I've already paid?
04. the documents I signed were handled to me in a CD-ROM. What should I be looking for regarding my cancellation rights?

Yes, you need to cancel. I been to presentation in that same resort last spring, and it sells much cheaper on the secondary market.

You can't just walk into the office now.
In order to cancel you need to send the cancellation paper with certified mail to the office mentioned in your paperwork within 5 days. They always give you the address of the responsible office where cancellations should be sent. After 5 days it's impossible to cancel.

I did that with Las Vegas resort "Grand View" few years back.

There is no penalty to cancel within the grace period, they will return you money in a few weeks. So do this as soon as you can.

[T/S Guy Junior Member Find all posts View Profile Close T/S Guy]

Sedn a certified letter

The state of Florida allows 10 days for cancellation. Do not go into the sales office to cancel because they will do every thing possible to prevent a cancellation. Make sure you return the owners bag, send by separate certified mail and enclose a copy of your cancellation letter.

You should have a hard copy of all documents you signed showing your signature.. Only copies of the paperwork (without your signature) will be on the CD. The Cancellation page will be the page with paragraph of large bold letters. That paragraph will have the address to send your letter and owners' bag.

Good luck

[dougp26364 Senior Member Find all posts View Profile Close dougp26364]

You can't just walk into the office now.
.

This is not correct. You CAN walk into the office and cancel but, you must get a written receipt that you've cancelled the contract. I've done this before myself. I would still suggest using certified mail to send in the rescind letter as well, just in case. I am a believed in covering my bases.