Help with Rescinding

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

Hello,
Yesterday my husband and I bought a timeshare unit at Tahiti Village in Las Vegas. It is our first timeshare and it sounded really cool. I had done a little research before and thought I had seen some units at the same place for sale for much less than what they were offering. However, when I asked them about it, they said "Oh, that must have been 'Tahiti', our other timeshare, not 'Tahiti Village'. Of course they wouldn't acknowledge it.

So when I got back to the hotel I checked online and sure enough, it it Tahiti Village, and things are selling for $10-15K less than what we paid, or we could upgrade and buy a two bedroom rather than the one bedroom we bought, and still pay LESS money. However, since I am new, I have two questions:
1: Any info on how we rescind? Is it easy or can we do it wrong and still be stuck with it?
2: If we buy one through a resale, are there ways to make sure we get the same thing the developer was giving us? For example, Tahiti Village is associated with Interval International, and one of the really attractive things was that we would get a 'gold' membership that would give us discounts for many things, including golf for my husband, AND we got 12 bonus weeks where we could book rooms at the Interval Timeshares around the world for very reduced rates. Is this something that everyone gets or do you truly need the 'gold membership?'

Thank you and I would love your immediate reply as we leave Las Vegas tomorrow.

Katie

[bigfrank Administrator Find all posts View Profile Close bigfrank]

There should have been a letter that you can mail in. Send it over night with return receipt. You have 5 days to get it in the mail from the first day that you signed.
BTW I removed 1 of your 3 like posts

[Jya-Ning Silver Contributor Find all posts View Profile Close Jya-Ning]

1: Any info on how we rescind? Is it easy or can we do it wrong and still be stuck with it?
2: If we buy one through a resale, are there ways to make sure we get the same thing the developer was giving us? For example, Tahiti Village is associated with Interval International, and one of the really attractive things was that we would get a 'gold' membership that would give us discounts for many things, including golf for my husband, AND we got 12 bonus weeks where we could book rooms at the Interval Timeshares around the world for very reduced rates. Is this something that everyone gets or do you truly need the 'gold membership?'
Katie

Look at your contract, you will need send them a registered mail state that you want to rescind and give back them documents whatever the contract says should return.

As to bonus week, you will not get from resale. Not an II member so can not tell you if you get similar deal just by joint II or not. Some of the developer incentive will also not be able to get if you bought from resell. But I doubt you will miss them. If you decide later on you really miss them, you can always come back to buy retail.

Jya-Ning

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

rescinding

Thanks for removing one of my postings. this is my first time one this site and I'm unclear how I should post to get replies. anyway, thanks for the info.
katie

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

If I were in your shoes, I would go back to the resort and go and see the sales staff (manager) and tell them that you want to rescind your contract. They will try to talk you out of your decision but tell them that you are going to do it in writing otherwise as is outlined in your contract.

If it is a good company, they will let you sign your rescission document and it is done with. You can also return the materials you received from them at the same time so you will not be charged.

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

Your contract should have specific rescission directions, you should follow them exactly. If you decide to do it in person, make sure you are still following the express terms of the contract exactly.

As another responder noted, the "bonus weeks" are only available if you buy from the developer, they are throwing these in to make their inflated price look more attractive and in an effort to get you to "buy today, this offer is only good NOW"). They are not going to be worth the extra $ you are spending.

Anyone with a timeshare that trades through II can become a Gold Member of II, you don't need to buy from the developer to join II or to become a Gold Member; personally I don't find the extra Gold membership worthwhile and haven't taken it. The biggest benefit is an extra $25 off of "getaways," they are extra trips you can pay for without using your banked week(s). But "getaways" have gotten a lot more expensive than they used to be, so I don't use them enough to make the extra $ worth it (I think Gold membership costs an extra $50 per year, not certain of the amount).

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

Rescind Now!!!!

Congrats on doing your research before the sale is final.....read your docs carefully and do everything they say and RESCIND IMMEDIATELY....you can do much better in the resale market and those bonus weeks don't add up to much when you look at the restrictions and what is available on the open market at the prices available...you are paying a high price for those so-called developer incentives.

Come on back and learn more about how to get the best value for your money in timeshares......if you really really want what you bought you can always go back and get it...don't let anyone fool you otherwise.

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

thank you

Thank you all for your replies. I did find the page included in my documents that says I have 5 days to rescind (I bought yesterday) and I contacted the seller directly and the person I talked with said I only need to mail in that one page that says I want to revoke, by certified mail, postmarked no later than the fifth day. I'm tempted to do it in person to make sure it is done right, but it does seem that certified is ok.

So my next step is buying it on the resale market. Any tips?

Thanks again.
katie