Need help!! Timeshare misunderstanding

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

Hi,

I'm new in this forum and I would need your help to well understand couple of thing about timeshare.

Here is my case,

I've went to Sint-Maarten this winter and I've been asked to buy a timeshare in the Oyster Bay Beach Resort, which is supposed to be a really popular destination.

First of all, I bought it, and I'm now asking to myself if I did the good choice, It was my first time about timesharing and probably I've been deceited; that's the reason why I need your advices.

We got the standard presentation about the time share and the cost advantage it gives. The guy who did the presentation told us that we buy one week per year at Oyster Bay that is a member of Interval international who as rated it as a RED week which means that everybody would like to get this week and that it would be so easy to trade it to go somewhere else. He told us we could reserve our week anytime we wanted within a year, or trade it, or rent it. He shows us a contract in french, because we're from Quebec, and after they prepare our contract in english to be signed. I readed it and I got couple of question regard to certain word or point, and he was always telling me that everything was standard and that was the same as in french. So we signed it, because everything seamed correct and his explanation was convincing. But I got my contract here and I start to read it carefully and here are couple of quote:

They said I got the "use of one week on a quadrennially recurring basis" The guy told me it was because I needed to come back to Oyster Bay once every 4 years. But I think it's not the good definition

They call the timeshare as a "Flexible Use Week" but a little further, there is a not that say that the "Use week assigned to member is use week No. 31 odd" and also that if the "company ever abandoned the Flexible Use plan, then member's timeshare interest shall be automatically converted to a fixed timeshare interest for the assigned use week..." So does-it mean that I can use my week anytime I wish to but, they can fix it at the week No 31 whenever they will want to??

So I really needed your advice regard to all this because, I was suppose to buy a week of vacation per year whenever I wanted and that I would be able to trade easily with anyother destination, but I'm scared to got only one week per 4 year at a particullar date....

The guy also told me that if I want to sell it in the futur, they will buy it back at my buying cost, but no more even if its value is now greater... what you think about all this???

Thanks in advance!!!

[falmouth3 Senior Member Find all posts View Profile Close falmouth3]

You asked the same questions on another TS bulletin board and got several replies. I think you'll find that many of us read both boards and you're likely to get the same type of advice.

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

So I really needed your advice regard to all this because, I was suppose to buy a week of vacation per year whenever I wanted and that I would be able to trade easily with anyother destination, but I'm scared to got only one week per 4 year at a particullar date....

You should buy resale. Since you bought it this winter, it is very unlikely you can still rescind the contract. If you can, you should do that.

You got a flex week. For tracking purpose, your week is assigned to week 31 but you use it as flexible week. Under very unlikely situation, the company may get rid of all the reservation system, and only in situation like that, you will be force to use week 31.

I doubt they will buy back at the original price. The market is much lower than that. read your contract, it is very likely there is no mention of this, even if there is some sentence, it probably the company has the right to match your offer.

No idea about the resort, probably not that bad. At this moment, use the exchange company's last call, extra vacation, until you know what Timeshare is and what the MF cost will be, than you can decide what to do next.

Jya-Ning

[JLB Please excuse me, I'm a Dick. Not a moron just a Dick Find all posts View Profile Close JLB]

If you attended a presentation and bought timeshare, it is 99 & 44/100% likely that you were deceived. We all were.

Then we learned to deal with it, to sort it out.

I've spent 20 years doing that.

[rikkis_playpen Diamond Club Contributor Find all posts View Profile Close rikkis_playpen]

Quadrennial ownership..

Quadrennial ownership means one week every four years. If that is what you purchased, you'll be using exchange getaways or rentals 3 years out of four.

[JLB Please excuse me, I'm a Dick. Not a moron just a Dick Find all posts View Profile Close JLB]

See, when you don't have ADD, you can read all the way through long posts.

I got as far as I bought a timeshare at a presentation.

Quadrennial ownership means one week every four years. If that is what you purchased, you'll be using exchange getaways or rentals 3 years out of four.

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

I know some of you will have probably seen that on other forums, but just to make sure I will have the more advices... Thanks!!

Ok,

I just talked with the saler I dealed with and here is his explanation.

The guy told me that I bought quadriennal week at Oyster bay which means that I can go back to Oyster bay once every 4 years directly with them or exchange it on Interval international to go anywhere else. But he also told my "property" in Oyster bay makes me a "gold" member of interval international that gives me the opportunity to go anywhere else in the world anytime I wish to with Interval international by paying only 159$ per week of exchange fees. So I asked what if I would like to go to france 10 weeks long, it would only cost me 1590$ plus the flight, and he answer yes.... So I'm a little bit lost. I asked how they do to make money, and the answer was, because all the others hotel has sold their week to other people so they are all paid.... but I still don't understand how could I take 10 weeks by buying only 1/4 week... it seems to me that if everybody was doing that, It wont work for a long time.

Have you ever heard about all this???
Any advice or questions to ask when I'm gonna call back??

I'm suppose to get a confirmation of all this by e-mail soon and the interval contract later on!!! The only thing I can say now is.... we'll see.....

[Beaglemom3 Senior Member Find all posts View Profile Close Beaglemom3]

Hello and Welcome...........

Here's the part that I don't get and I quote, " and I've been asked to buy a timeshare in the Oyster Bay Beach Resort".
Okay, who asked you ?
Just trying to put this into perspective.
Thanks,
B.

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

I'm sorry but English is not my first language, I'm speak french usually.

I meant that somebody there sollicitated me, and offer me to buy Timeshare per his description of what it is.

[Beaglemom3 Senior Member Find all posts View Profile Close Beaglemom3]

I'm sorry but English is not my first language, I'm speak french usually.

I meant that somebody there sollicitated me, and offer me to buy Timeshare per his description of what it is.

Maintenant je comprends. Je parle français mal.
Je n'ai voulu dire aucune irrévérence.
Merci.

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

... that gives me the opportunity to go anywhere else in the world anytime I wish to with Interval international by paying only 159$ per week of exchange fees. .....

Notice that is exchange fee. So you need to put 10 weeks in exchange. So yes you paid 1590 for 10 weeks in France, but you also pay the 10 weeks' purchase cost and Maintaince fee you use to exchange.

And since it is exchange, you need someone deposit 10 weeks also.

II does has some extra vacation deal where you don't need to deposit your week. But the price are close to the market.

Jya-Ning

[falmouth3 Senior Member Find all posts View Profile Close falmouth3]

But, if you only get 1 week every four years, you will only have 1 week to exchange with. So you can only go to "France" or anywhere else once every 4 years if I am reading this correctly, with an exchange.

And yes, you will also have to pay your maintenance fee for each of those 10 years. So, it's not really just $159 per week. Plus, you will have to pay membership fees for some of the exchange companies.

There are other ways to get weeks, though. RCI, one of the big exchange companies, also has "Last Call" opportunities. Those are "leftover" weeks that are available no more than 45 days before you would check in. If they have someplace you would like to go, those weeks can be a real bargain. And you don't need to deposit anything to use them. RCI also has "Getaway" weeks which may cost more, but they can also cost less (or a lot more) than your maintenance fees - and again no exchange fee on top of the stated rate. There is generally more choice of resort and weeks in the "Getaway" category than for "Last Calls". But in order to join RCI, you must have a resort that is in the RCI network. It sounds like your week is with II and I'm not familiar with their system so I can't give you details on other types of vacation availability. Some resorts will trade with either RCI or II.

Sue

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

Bonjour!
Quel dommage...vous etes decu...

[JLB Please excuse me, I'm a Dick. Not a moron just a Dick Find all posts View Profile Close JLB]

I've been using a translator in this thread and going back and forth distorts the meaning. I haven't been able to assemble my thoughts in English so that they translate into French accurately.


J'ai utilisé un traducteur dans ce fil et de va-et-vient faussent le sens. Je n'ai pas été en mesure de rassembler mes pensées en anglais afin qu'ils traduisent en français avec précision.

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

Sure. You will get 10 summer weeks on a Riviera beach resort or spring in Paris. Good luck????