new at this game

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

My husband and I just bought a timeshare in cabo san lucas. Not sure if it was the best move or not. Alot of questions I have that I feel were not answered. First of all, what do I do now??? Is RCI the only company I can trade with. Is it impossible to get what you want? I just feel lost at this point and don't know what direction I need to go in. How is getting something international vs. the states. How long do I need to book in advance? What other fees are out there? I just need a litte guidance.
thanks

[urple2 Senior Member Find all posts View Profile Close urple2]

My husband and I just bought a timeshare in cabo san lucas. Not sure if it was the best move or not

You have lots of questions. Some that cannot be answered with the amount of info given. One suggestion is to read a lot of the information that is available within this group.
There is also much information posted on the TUG website.

I have been timesharing for a few years and am still learning much from the great folks on these sites.

Good luck and happy vacationing !

Bill

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

My husband and I just bought a timeshare in cabo san lucas. Not sure if it was the best move or not. Alot of questions I have that I feel were not answered. First of all, what do I do now??? Is RCI the only company I can trade with. Is it impossible to get what you want? I just feel lost at this point and don't know what direction I need to go in. How is getting something international vs. the states. How long do I need to book in advance? What other fees are out there? I just need a litte guidance.
thanks

If you bought from the developer, it was not a good move because you paid too much but many of us have done this too before we found out about the timeshare forums and that there is a re-sale market. Most people do not know this so you are not alone.

The next best thing to do is to enjoy your timeshare and use it or exchange it or rent the week out, if you can.

You must have instructions how to make reservations at your resort and book them as early as possible so you will get the week you want. I can't advise you what to do with exchanging but others will. Start early seems to be your best bet.

How long ago did you buy? If you have any doubts about your purchase and you are still within the cancellation period, you have the right to rescind the contract but follow directions exactly as it is described.

[aliikai2 Super Moderator Find all posts View Profile Close aliikai2]

Well, I will give you a little overview, but you will need to spend hours reading posts and asking questions before it becomes clear.

1st, RCI may be the only " affiliated" trade company that your resort deals with, and depending upon the resort you may have other options.

2nd, everything you do with a trade company has costs involved. If you use RCI it costs $89 a year to be a member, it costs $149 to make a domestic exchange and more for international exchanges.

3rd, it may be possible depending upon what you bought to receive the exchanges you are looking for, provided you plan well ahead.

That means depositing as soon as possible and requesting your trades as far out as 24 months.

There is a small start for maybe lead you onto the correct path. fwiw, Greg

[4ARedOctober Super Moderator Find all posts View Profile Close 4ARedOctober]

When did you buy, where did you buy, what did you buy?

If you can still rescind then do so immediately and then learn more before you buy again and buy resale.

If it is too late to rescind then learn how to best work with what you have and enjoy it.

Either way you are at the right place....you will learn much in the near future.

Welcome to timeshareforums.com.

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

Other options

Other exchange company options open to you are:
www.daelive.com
www.platinuminterchange.com
www.tradingplaces.com
and assuming its a red week:
www.htse.net

All of these are cheaper than RCI. All of them will also answer your questions on the relevent boards on this forum.

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

new at this game

I bought in January 2006. What is the cancellation period? Didn't know that there was one. I bought at Hacienda Del Mar in Cabo San Lucas, one bedroom luxary suite. They tell me thats a goldcrown, if that even means anything. I just find it hard to book my vacation two years in advance. I have no idea what I am doing next month let alone two years from now. By reading all the reviews, it looks like thats what you have to do to get what you want. I would like to go international some year, Italy, Greece. Has anyone exchange international? I just feel lost and don't know what to do next.

[Glitter Brunello Super Moderator Find all posts View Profile Close Glitter Brunello]

With a purchase in January, you are undoubtedly long past the rescission period. I suggest you start with the Exchanging Board. If you are not trading with RCI, you are less likely to have to plan 2 years in advance. I would also see if your resort is accepted by SFX (see the Ask SFX board here), as they specialize in Gold Crown/Five Star properties and also tend to match most requests within a year or less of travel date, not two years out.

To help familiarize yourself with the process and the various companies, check out the Exchanging Board too.

[nursetanya1973 Senior Member Find all posts View Profile Close nursetanya1973]

Ladydi,

First, take a deep breath. I can almost hear your frustration through the computer. Everything will be ok. Think of this first year or two as a learning period. Maybe plan on using your resort for the first year, don't think about trading yet. You shouldn't have to plan as far out to go to your home resort.

If you cannot use it the first year, rent it or give it to a friend or family member for the cost of your maintenence fee. If you remove the initial pressure of trying to figure everything out "right now", you will be better off.

Next, start reading, ask questions as needed. Don't try to conquer everything at once.

If you are not picky every year about where and when you go, things are very simple. If you are set on certain places and certain times, it's a little more complicated for the exchanges, but you will learn it all (not that anyone ever learns it all, cuz it often changes), and you will get what you want.

Remember, you bought this for a lifetime so you have a while. Just relax and read.

Tanya

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

what is the recission period?

just out of curiosity, what is the rescission period?

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

The recission period is the time after you sign the contract that you have to change your mind and back out of that contract. It is usually between 5 and 10 days and is National or State law.

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

just out of curiosity, what is the rescission period?

Ladydi, I replied yesterday to your pm but don't know if you read it. I will give you a link where you can read more information here.

By law, the sales staff in Mexico has to give you a document that explains to you that you have five days to cancel your contract. This gives you time to read the contract over and you do not need any reason to cancel either. However, many resorts give you an excuse why you have to sign a waiver that you give up this right. This is against Mexican law.

At the end of the sales presentation, they give you a big package of all the papers you have signed but some of these resorts do not include a copy of the waiver you signed and the right to cancel rescission notice either so people cannot send it in to cancel the contract in case they decide to cancel.

This is fraud and in this case you can start a formal complaint with a Government Agency in Mexico by the name of Profeco. They are overwhelmed with complaints so it takes a while before they have a hearing with your resort but they have done it for many people and you don't have to attend. It is handled between Profeco and the resort. Follow the links that I gave you above.

Here are two more important links where you find more information:

http://www.thetimesharebeat.com/mex-fraud.htm

http://www.profeco.gob.mx/





Click on "Atencion al Extranjero" and scroll half way down the page and you will find it.

About Profeco
Attention for foreign residents

Profeco is part of the administrative branch of the federal government of the United States of Mexico. This Institution strengthen the citizen's power and enforce the law to achieve an equity on the consumption relations.
The Department of Conciliation Services for Foreign Residents gives assistance on solving controversies arisen between people who do not live in Mexico, foreigners or Mexican citizens living outside the country, and acquire any product or service from a Mexican supplier and are not satisfied with it.

This is a totally free service and does not require the presence of the consumer during the mediation procedure.

Complaints can be submitted in any Profeco office in the Country, Embassy, Consulate or any other Mexican Official Representation overseas.

You must submit the following information to suit a formal complaint:

• A brief letter (1 page maximum and, preferably, typed) stating the following: supplier's name and address, description of the facts that origin your complaint, date of purchase, cost of the good or service, amount you are claiming, your name and signature. Or complete the following application form
• Copy of your ID (Passport or Driver´s License)
• Copy of your contract or invoice payment
• Copy of your bills, credit slips or receipts as evidence of your payments
• Copy of all the documents available to support the complaint.

Our mailing address: Av. José Vasconcelos No. 208, 6° Piso, Col. Condesa, México D.F. C.P. 06140.
For further information, do not hesitate to contact us at the following phone numbers: (+52) 55 5211-1723 or (+52) 55 56256633, or e-mail us to extranjeros@profeco.gob.mx

• Take your time when buying a timeshare

PS. There are a few resorts that may still be grandfathered to before this law took effect. The Buganvilias in PV was one of them but that may have changed again. I don't know about your resort. You can check it out.


PPS added later as I just read the newest post in this thread here.

Do you remember signing a waiver? If so, please read more information as the same problem has been posted many times already.

You still have recourse getting the contract rescinded if you have signed this waiver too and you feel that your purchase has no value to you. I doubt very much that you will be able to make exchanges to Europe to the best destinations as you hope you can do. It is absolutely awful how many victims fall prey to the unethical way of doing business by some of the developers over there. Thank goodness, there are good ones too and they have beautiful resorts too but buy them re-sale now.