New TS owner and scared!

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

Timeshares always seemed too good to be true. I went on several and were able to say no. Not this weekend. I really thought it sounded great but now I am nervous! I guess I can still back out of it since it was only a few days ago. I bought in the Berkshires in MA. I got every other year with the lock out. I liked that since I can just use the 1 side and carry the other over. I got week 34 which is around August 21. So that was a week in the red. I was interested in the magazine that owners get with the side weekend getaways. Seems to have many perks. I tried looking at this website a little. Seems some people are happy. I don't even totally understand everything. I like that it will always give me something to look forward to! I am hoping it is easy to trade! It seems people own several so maybe they aren't so bad??

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

Timeshares always seemed too good to be true. I went on several and were able to say no. Not this weekend. I really thought it sounded great but now I am nervous! I guess I can still back out of it since it was only a few days ago. I bought in the Berkshires in MA. I got every other year with the lock out. I liked that since I can just use the 1 side and carry the other over. I got week 34 which is around August 21. So that was a week in the red. I was interested in the magazine that owners get with the side weekend getaways. Seems to have many perks. I tried looking at this website a little. Seems some people are happy. I don't even totally understand everything. I like that it will always give me something to look forward to! I am hoping it is easy to trade! It seems people own several so maybe they aren't so bad??

The main question is: How much did you pay?

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

mulhollk

Welcome to TS4M's

If you have purchased this timeshare from the developer, you should rescind immediately!!! In all likelihood, you payed much, much more than you would have purchasing on the retail market. Probably about 60+% more.

Please read through these boards and get as much info as possible, before purchasing a timeshare. You do not have to worry, you can always buy from the developer, if that's what you want to do, but once the rescind period is over, you can't get your money back.

I would rescind immediately!!!! Make sure that you follow the directions to rescind exactly as described in order to make sure there are no errors made.

[lawren2 Malibu Beach Barbie & A Super Moderator Find all posts View Profile Close lawren2]

If I'm understanding your post correctly you purchased from the developer and paid much more than the value for your timeshare.

My advice to you is to rescind immediately. Follow the directions to do so in your contract to the letter. Send the recission back certified US Mail.

Then talk to us about what you are looking for. Read about the various systems and exchange companies There are many knowledgable people on this website that will help guide you to a product that will suit your needs.

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

rescind, rescind. Follow the procedures in the paperwork.

[Bill4728 Super Moderator Find all posts View Profile Close Bill4728]

Almost everyone here will give you the same advice : RESCIND!

That isn't because we don't like timeshares or find that they can be a great way to travel. It because if you buy direct from the developer, you will have paid 40% - 90% too much.

There are many TS which have very active resale markets which allow you to purchase the exact same TS week for so much less you'd be crazy to not rescind and buy resell.

Good Luck and Welcome to TS4Ms

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

The getaway weekends - did you buy Silverleaf perhaps?

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

If you bought from the developer, I recommend that you rescind. Many "perks" are available to all owners or members of an exchange company. Many are not of much value. I don't know how desirable week 34 is in the Berkshires, but for many families, it is either after school starts or right before it starts back up. There are different shades of red. You can probably buy a comparable or better timeshare for much less on the resale market.

[GrayFal Silver Contributor and supermoderator Find all posts View Profile Close GrayFal]

You are getting good advice.....

Cancel your deal now - it will still be there next week and next month...and then read about the different systems and see what meets your needs.

You WERE smart to buy a summer week and a lock-off - but you can probably buy this same unit on the resale market for much less.

[GrayFal Silver Contributor and supermoderator Find all posts View Profile Close GrayFal]

If you bought from the developer, I recommend that you rescind. Many "perks" are available to all owners or members of an exchange company. Many are not of much value. I don't know how desirable week 34 is in the Berkshires, but for many families, it is either after school starts or right before it starts back up. There are different shades of red. You can probably buy a comparable or better timeshare for much less on the resale market.

FYI - in the Northeast - most schools don't go back until after Labor Day - unlike your 'neck of the woods'.

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

Timeshares always seemed too good to be true. I went on several and were able to say no. Not this weekend. I really thought it sounded great but now I am nervous! I guess I can still back out of it since it was only a few days ago. I bought in the Berkshires in MA. I got every other year with the lock out. I liked that since I can just use the 1 side and carry the other over. I got week 34 which is around August 21. So that was a week in the red. I was interested in the magazine that owners get with the side weekend getaways. Seems to have many perks. I tried looking at this website a little. Seems some people are happy. I don't even totally understand everything. I like that it will always give me something to look forward to! I am hoping it is easy to trade! It seems people own several so maybe they aren't so bad??

Rescind! Rescind! Rescind! Do it now. Follow the instructions in your contract to the letter. Send it however the contract says, but make sure to get a delivery confirmation receipt. Send a fax, too.

Timeshares can be fabulous, but it is easy to pay too much. There's no way that what you bought is worth more than $1000, and probably less. If you bought from the developer, you probably paid 10 times what you needed to.

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

Thanks everyone

I hope i can find a good deal than. I wanted something I can drive to plus I wanted a summer week! Yes that week the schools have not opened yet. I did pay $12,000. Other people there spent $16,000 for a summer week! They had given me a week and than said someone else got it. They weren't interested in going any lower. I hope I still have enough time! I think it said 7 days but I have read on this website that is 5 days.

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

I hope i can find a good deal than. I wanted something I can drive to plus I wanted a summer week! Yes that week the schools have not opened yet. I did pay $12,000. Other people there spent $16,000 for a summer week! They had given me a week and than said someone else got it. They weren't interested in going any lower. I hope I still have enough time! I think it said 7 days but I have read on this website that is 5 days.

There is an old saying, "If the salesman's lips are moving, he is probably lying." If you only have 5 days, it may be business days, but don't wait around to rescind. Read the rescission directions in your documents and follow them.

[lawren2 Malibu Beach Barbie & A Super Moderator Find all posts View Profile Close lawren2]

I hope i can find a good deal than. I wanted something I can drive to plus I wanted a summer week! Yes that week the schools have not opened yet. I did pay $12,000. Other people there spent $16,000 for a summer week! They had given me a week and than said someone else got it. They weren't interested in going any lower. I hope I still have enough time! I think it said 7 days but I have read on this website that is 5 days.

Rescind now. We'll help you find something to suit at probably half that price or less.

Where are you and what do you consider driveable?

[Bill4728 Super Moderator Find all posts View Profile Close Bill4728]

What you paid and what someone else paid and what the resort is asking are just not relevant.

Let me tell you about a TS I own in Whistler BC.

We bought a floating spring week about 10 years ago from the developer for $5,000. The developer now wants $20,000 for a floating winter week. So it looks like my $5,000 purchase was a good deal, BUT
Bought another ( float winter week) from my sister for $3,500 ( so my $5,000 doesn't look so good now)
AND: Bought one last summer (annual summer week) off ebay for $300, Now my first $5,000 purchase looks like I got ripped off.

The key to this story is that price for TS are all over the place. Unless there are a huge number of people buying and selling a resort, the resale prices for the resort can vary from $1 ( yes, one dollar) to $30,000 or more ( for a Marriott TS in Hawaii)

Also, no matter what the salemen said, you can likely get the same deal from the resort next month as you gat last week. ( even if they said this was a one time offer)

Good Luck