Grandview, LV - Cold Feet

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

On our recent trip to Vegas we ended up buying a TS at Grandview (1BR - $14,000, 49000 pts/year + 2 bonus weeks). We paid about $1800 deposit.

The TS system is way more complicated that we expected and even though we are past our rescission period (ended last night) we have a severe case of cold feet.

Are there any options to back out of this offer, even if it meant losing the $1800 deposit?

Anyone done this before?

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

We signed on 21st - unfortunately Nevada state law provides only for 5 calendar days to back out, which ended last night.

Do we have any options here or are we stuck with paying the fully $14000 + maintenance until we can find a way to sell it off (which looks like it will be less than $5000)

thanks,
Faru.

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

You're a day late but it is worth a try. Fax a recission letter to them immediately. Also mail one certified mail. Follow the recission instructions that they gave you. It is better than giving up. For that kind of money, I would try it. NOW.

[john161616 Junior Member Find all posts View Profile Close john161616]

cancelling timeshare contracts

has anyone had any trouble cancelling their grandview vegas timeshare within the 5 days? is it guareenteed back if you follow the right procedure??

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

Update...

Thanks Catwgirl!!

Short answer: I got the refund.

Long answer:

I managed to get hold of a Verification Officer at the Vegas office. She said it was too late, but I should still go ahead and fax the revocation form.

I faxed the revocation form on 5/27 (6th day after signing). The revocation form had a Florida address and no fax number on it. So I faxed the form to the Vegas office addressed to to the Verification Officer and (following Catwgirl's advice) also sent it via certified mail to the Florida address.

I didnt hear back anything until Friday. I sent a couple of mails to the verification officer who assured me someone from the Florida HQ would call me up. Late on Friday (30th) evening I got a call from one of the people involved in the sale (from the Vegas office). It went to my home number and I was at the office. I tried him back on his cell (from his business card) several times. Finally I got him on the phone. He was very courteous, heard me out and offered an alternative 1-week-every-two-year plan for $10000. I declined and requested him to consider my revocation request instead. He then asked me to fax the revocation form (which I already had) and told me the initial deposit would be refunded in 10 days.

Late last week, my credit card was credited with the down-payment and a couple of days ago I received a letter in the post indicating the agreement was revoked and the deposit refunded.

The last week of May was very nerve racking - but I'm very happy with the way the folks at Grandview/Eldorado Resorts handled this for us even though they were not legally obliged to revoke the agreement. My faith in them as a company has gone up considerably - but I dont think I will be signing up for a timeshare in the near future :-)

This has been a considerable learning experience for me. Thanks for all the suggestions!!

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

You were so lucky to read catwgirl's post above and that you were dealing with a classy resort who wants happy customers only. Now, you need to do your homework and read, read and read some more before you buy again re-sale.

[charlie_m Member Find all posts View Profile Close charlie_m]

[QUOTE=Faroo;239285]Update...

Thanks Catwgirl!!

Short answer: I got the refund.

QUOTE]

Sounds like they used extra strength ether, the kind that lasts thru the recission period. You are fortunate to get your $$$ back. It may behoove you to pass on any tours in the future until you are ready to either say yes or no. The sales staff will work you snd the pressure will be at its usual ratchet.

Be careful!

[1950bing Senior Member Find all posts View Profile Close 1950bing]

It's great you got out of that one ! Now be careful from now on out and do not let yourself get hooked in again. Count your blessings.

[brucecz Moderator Find all posts View Profile Close brucecz]

On our recent trip to Vegas we ended up buying a TS at Grandview (1BR - $14,000, 49000 pts/year + 2 bonus weeks). We paid about $1800 deposit.

The TS system is way more complicated that we expected and even though we are past our rescission period (ended last night) we have a severe case of cold feet.

Are there any options to back out of this offer, even if it meant losing the $1800 deposit?

Anyone done this before?

Congrats about your getting money back. Now go over to ebay and track that resorts completed auctions for a month or two to get a feel for the RCI Points RESALE market.

Or you can just go the the ebay Completed auctions and type in RCI Points and see how what all the ebay RCI Points sell for on ebay.


For those 43,000 RCI yearly Points your should be able to pick up a comparable point package in Vegas for $1,800 or LESS. The reason I say that is because we own 2 gold Crowns in Vegas and one that is supposed to be a Gold Crown in Vegas and all 3 are RCI Points resorts were brought as resales.

Bruce

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

Faroo,

I am happy to hear you got the refund! Congratulations!!

[charlie_m Member Find all posts View Profile Close charlie_m]

Congrats about your getting money back. Now go over to ebay and track that resorts completed auctions for a month or two to get a feel for the RCI Points RESALE market.

Or you can just go the the ebay Completed auctions and type in RCI Points and see how what all the ebay RCI Points sell for on ebay.


For those 43,000 RCI yearly Points your should be able to pick up a comparable point package in Vegas for $1,800 or LESS. The reason I say that is because we own 2 gold Crowns in Vegas and one that is supposed to be a Gold Crown in Vegas and all 3 are RCI Points resorts were brought as resales.

Bruce

Great point Bruce. Save the $$$ and buy from someone trying to sell. Aint capitalism great? Couldn't do this in Cuba..........

I apologize for our "rough start"....you are a PHD in timesharing and when I need to know timesharing on this level, you would be the first person I would ask!!!

[brucecz Moderator Find all posts View Profile Close brucecz]

Great point Bruce. Save the $$$ and buy from someone trying to sell. Aint capitalism great? Couldn't do this in Cuba..........

I apologize for our "rough start"....you are a PHD in timesharing and when I need to know timesharing on this level, you would be the first person I would ask!!!

Thank you for your kindness. But there are many on this site who are far more advanced in their all around knownlegde than I am.

Bruce

[1950bing Senior Member Find all posts View Profile Close 1950bing]

Gosh

[brucecz Moderator Find all posts View Profile Close brucecz]

Gosh

Great insightful comment Bing, one of your best ever. I bet your head is still hurting from all of the effort you put into thinking up that profound statement.

Did you have your foil thinking cap on?

I was not including you when I said "But there are many on this site who are far more advanced in their all around knownlegde than I am."

You Dear Bing remind me a of bird that only knows one phrase and keeps screeching it all the time.

Or maybe your more like a old type record player that is stuck on just one song and can not change and just keeps droning ON AND ON AND ON AND ON AND ON AND ON AND ON AND ON AND ON AND ON AND ON AND ON AND ON AND ON AND ON AND ON AND ON AND ON AND ON AND ON AND ON AND ON AND ON AND ON AND ON AND ON AND ON AND ON AND ON AND ON AND ON AND ON AND ON AND ON AND ON AND ON AND ON AND ON AND ON AND ON AND ON AND ON AND ON AND ON AND ON AND ON AND ON AND ON AND ON AND ON AND ON AND ON AND ON AND ON AND ON AND ON AND ON AND ON AND ON AND ON AND.

Bruce