New Timeshare Owner - Did I make the Right Decision? (Should I Rescind/Cancel?)

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

timeshare contract

Hello
We just bought a timeshare from Lando Resorts Corp. at Vacation VIllage at Parkway. We signed the contract June 1 st and we now realize, too late I know, that we probably got scammed from reading all these different comments . What happens now anything that we can do? We live in Canada and just got home from vacation in Florida and we did not have a clue that this timeshare was going to be such a problem. From what I read we obviously paid way too much. Thank you

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

Check the contract closely for the revocation or cancellation date. Make sure you get a cancellation letter sent via certified mail prior to the end of the cancellation date. You may have time, as some states are 14 days.

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

FLORIDA Under the Florida Vacation Plan and Time-Sharing Act, purchasers may cancel timeshare contracts within 10 calendar days after the date the contract is signed if the seller is notified of the cancellation in writing. Any attempt by the seller to obtain a waiver of the cancellation right is void and of no effect. While closing documents may be executed, the closing cannot actually take place until the 10 day cancellation period has expired.

Our first TS contract was from the developer, and other then the terms that were with high interest, we are still very happy with the purchase in the long run. But purchasing secondary market is really the best deal.

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

We realize that we are too late, signed on the 1st of June and had 10 days to cancel. We got back home to Montreal, Canada from Florida on the 8th. By the time we checked everything out and phoned RCI for details about the 2 extra weeks that were given to us we knew that we had a problem. We called the Lando Realty yesterday and complained. The problem is not even the price it's the false promises and misinterpretations. At first we said no to the timeshare because the one week they were offering was not for us and the price was too high. So the salesman went to get someone else who said that he understood what we wanted and offered us a 2 bedroom for one week at Orlando and if you exchange for a 1 bedroom you get 2 weeks plus RCI gives you 2 extra weeks. So our total was 4 weeks and tht's what we wanted as a vacation in FLorida. They never told us about depositing our week and the trading points. RCI told us that we had a trading point of 40 for 2 bedrooms since we have a good week which is week 4. But we asked and repeated the question I don't know how many times to the salesman telling him that our retirement plan was to drive down to Florida in the winter months like January or February and stay there at least 4 weeks and are you sure that we have 4 consecutive weeks for sure that we can take here at this resort at Palm Beach during winter months. So he kept saying no problem call in advance and there is no problem. How stupid were we. RCI said the chances are quite small that we can get 4 consecutive weeks in winter in FLorida since it's a popular place. I'm just wondering if legally we can do something about these false promises that were given to us since we are in Canada we don't really know how it works in the States. I know it's his word against ours but I have to say I found some interesting information on the internet about this guy that kind of shows that he's not too honest. ANyways they are suppose to call us back today but what I really want is to get out of this. Thanks for your help

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

Thank you for the template and the information, I used it to type up my revocation letter that I'm sending out tomorrow.

We are exercising our legal right to cancel this contract. We expect a full refund of our deposit of $XXXX.XX, in the credit card sale of Down Payment, Order ID XXXXXXXX, Contract Number XXXXXXXXX, Mastercard ending in XXXX MO/DA/YR. We also expect full refund of our deposit of $XXXX.XX in the "SPECIAL" program, Down Payment order ID XXXXXXXX, Contract Number XXXXXXXXXX, Payment account number ending XXXX. Do not make any charges to my credit card.

The Order Id is what? and is the Contract Number, the same as the other contract number?

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

Hey all, I was just reading a bit on this thread here. I think that the tradition timeshare is not necessarily a great deal - certainly not a good investment. However, I've been reading up on destination clubs - which are general luxury class of "timeshare" type ownership but they are structured very different (better). They make a lot more financial sense, because you are actually investing in the company. In particular some of the lower cost ones like Inspirato seem to be pretty good.


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