New to DRI

[Dcar91 Junior Member Find all posts View Profile Close Dcar91]

Hello, Just purchased 4000 points from DRI home resort South Lake Tahoe and Avila Beach,Ca. I wasnt planning on ever owning fractional real estate but it seems like DRI points system is a good option.
I technically sat through the time share demo to get the 3 day 2 night freebie and 125 bucks for lake fun. But really liked what I was hearing and I rent a house for a week somewhere every year for a vacation.
I am still in my 7 day cooling off period so I am reasearching like crazy
Here is what I got tell me good or bad, should I rescind?

4000 points I rolled it over to be able to use 8000 points next year.
The price was 14k....
Maintenance is 710.00 per year...
The Club was "free" in the deal...
2 round trip airline tickets coast to coast or Hawaii on American Airlines.
Locked in price for the 6000 point buy in and 8000 point buy in for one year.

I usually spend 1500-3000 on a rental house per year for my family to vacation and of course this year was Lake tahoe. I have 3 kids 7,3,2, and married I am not made of money by any means but at the selling talk they really dont allow you to research and thats what I am doing now.

I would appreciate anyones help,good points bad points or anything.

Thank You

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

Since you have found this forum, you are on your way to all the information you could ever need. I suggest reading the sticky "latest conversion info" and you can decide for yourself if you made a good deal. I personally think that 4000 points is not enough! and 14K is expensive!

[Dcar91 Junior Member Find all posts View Profile Close Dcar91]

has anyone ever got a better deal by calling the sales agent prior to rescinding? and leveraging the possibility of losing a deal?

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

I don't know if this is the kind of research you are looking for but for you to get a 2 bedroom in Lake Tahoe next year at this time, it would cost 8500 points. To get Avila Beach would cost 10,000.

I'm sure they made a big deal about maximizing your points by booking 59 days out...that's a great feature IF there is availability. If you need to take summer trips, based on current availability within the 59 day window, you could go to Arizona: Lake Havasu, Scottsdale and Sedona; California: Palm Springs; Florida: Orlando; Hawaii (you could only get a 1 bedroom with your points); Santa Fe, New Mexico; Nevada: Las Vegas, Stateline; Williamsburg, VA; Mexico: Mazatlan, Puerto Vallarta (1 bedroom for your points); San Maarten, Netherlands Antilles.

There is availability in Austria but not for the amount of points you have.

FYI - we converted to THE CLUB in January and bought 6000 pts for 14K to add to the points we got for coverting our deed (9,000), plus they gave us another 6000 one time use points. And even though I had already deposited my 2008 and 2009 weeks as split units with RCI, we were still credited 15,000 in 2008 and 15,000 in 2009 (giving us points AND deposited 4 weeks to exchange). And we got the airline tickets, club membership and one year's MF.

IMHO, they kindly locked in the 1 year buy in for you because they knew you'd quickly see that you couldn't do what you wanted with 4000 points. Being able to travel last minute is great and can be a deal...but having the option to plan and getting the destination you want has its benefits as well.

If I had known 10 years ago (when we bought from the developer) what I know now, I'd purchase a Villa Mirage or Sedona Summit 2 bedroom lockout on ebay and then convert to the CLUB.

We just sent some friends up to Sedona Summit for a few days and did not warn them strenuously enough not to buy ANYTHING. They came home with 2500 points that they paid 6K for. Fortunately, they told us within the 7 day rescind period. The funny thing is when they called to tell the salesrep they were canceling, I guess they mentioned us because he wanted to talk to "these friends". And then asked if we really were "friends" if we were trying to spoil their great vacations. Then he wanted to talk to us because he could give us referral points if they didn't rescind.

Anyway, I'm babbling. Hope this all is of some help to you.

[Dcar91 Junior Member Find all posts View Profile Close Dcar91]

Absolutly helpful...I still have 3 days and still researching. As far as going every summer to my home resort (Tahoe) without booking 59 days or earlier I wouldnt mind I actually would like to see all the resorts.
Now tell me,when you buy resale do you buy into a "home" resort? or are you just buying points in the US trust?
When converting resale points to "The Club" do they take in all the points for the $2995.00? or do they hassle you about converting? Thanks.....
Anyone with any ideas or input please chime in....Thanks

[Werner Member Find all posts View Profile Close Werner]

The usual answer in TS forums to situations like yours is "rescind" simply because you are unsure of your purchase and you can always go back and get the same or better deal when you are sure. However, resales are fraught with their own risks and require as much or more investigation as developer sales but many people do very well with resales. Timesharing is an enormously complex subject because there are so many systems and systems within systems and there are no handbooks to help. Even the TS company guides are incomplete and often obscure. If you really want to be sure that you are buying exactly what you need at the best price you can get, then you should plan on spending a lot of quality time reading TS forums, TS systems descriptions, etc.

Most of us that buy originally from a developer go through a long, agonizing period of regret when we learn about alternative methods of buying timeshares. But in the end, now 4 years later, I am glad we bought what we did. We like our home resort (which we use often), we have enough points to go anywhere, and the DRI system, complex as it is, works pretty much as advertised. Of course there are a few bitches but overall I like the system and use it.

[Dcar91 Junior Member Find all posts View Profile Close Dcar91]

Werner, thanks for the reply. I called my sales associate and asked her some complex questions about buying resale points, I.I. any other questions about the CLUB. She is putting a call into the sales manager to speak to me directly. She asked me if I am planning on recsinding. I told her yes but not sure yet. Anyway I am sure the "manager" will try to sweeten the pot...what do you think the will offer.... any other comments welcome...Thanks.

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

Werner, thanks for the reply. I called my sales associate and asked her some complex questions about buying resale points, I.I. any other questions about the CLUB. She is putting a call into the sales manager to speak to me directly. She asked me if I am planning on recsinding. I told her yes but not sure yet. Anyway I am sure the "manager" will try to sweeten the pot...what do you think the will offer.... any other comments welcome...Thanks.

Whatever they offer it will not offset the amount you are overpaying by purchasing from the developer. You are paying way to much for what you are getting.

I'm very surprised no one on this forum has more strongly suggested you rescind immediately. Do your research and buy resale. If you decide that the developer deal was best for you it wil be there next month, next year...

You only have one chance to rescind. DO IT NOW and follow the directions on your contract to the letter. Send recision certified return receipt US Mail.

[Dcar91 Junior Member Find all posts View Profile Close Dcar91]

Lawren thanks for that....I think our best option is to rescind and research some more and find a way better deal. Now with that said when we rescind do they charge you for anything? They gave us 3 day stay(at a later date) and 125 bucks that we used already. Also do the charge for escrow fees, paperwork ect...down payment will be remitted on my credit card...?

[Dcar91 Junior Member Find all posts View Profile Close Dcar91]

Oh...I forgot to add the QA guy called tell me that escrow has opened today?
Should I call him directly or does recsinding cover all that? Cant see why they would do that before rescinding period.

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

Lawren thanks for that....I think our best option is to rescind and research some more and find a way better deal. Now with that said when we rescind do they charge you for anything? They gave us 3 day stay(at a later date) and 125 bucks that we used already. Also do the charge for escrow fees, paperwork ect...down payment will be remitted on my credit card...?

Return EVERYTHING you received. There should be no charges re: escrow, paperwork, although you may owe them the $125. Chump change compared to what you will save once you read through and digest everything in this forum.

I suggest doing that and then asking your questions. There are many knowlegable people here regarding Diamond, it's products and nuances. You are sure to learn a lot.

Make sure you follow the rescission clause in your contract to the letter. Everything is taken care of with the rescission letter.

EDIT TO ADD I went back and re-read your original post. The 3day/2night and $125 were for attending the presentation and were yours regardless of whether you purchased or not. You do not have to return either.

[Dcar91 Junior Member Find all posts View Profile Close Dcar91]

That $125 and the 3 day stay was the perk for listening through their sales presentation....
Also how about all the manuals,carrying case ect?

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

That $125 and the 3 day stay was the perk for listening through their sales presentation....
Also how about all the manuals,carrying case ect?

Yes I just caught that. The 3 day stay and $125 is yours.

Return EVERYTHING else they gave you. And just in case when you do mail everything back, call the CC and challenge the charge for the escrow amount.

[Dcar91 Junior Member Find all posts View Profile Close Dcar91]

Ok, now I looked at the recsinding policy...pretty straight forward. Now with that said they have on for the agrrement and one for the CLUB...should I do both even though the CLUB was thrown in for free? and I dont own any other points?

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

Ok, now I looked at the recsinding policy...pretty straight forward. Now with that said they have on for the agrrement and one for the CLUB...should I do both even though the CLUB was thrown in for free? and I dont own any other points?

I am not that savvy about Diamond and the Keeper of all Knowledge DRI and Moderator for this forum is out of the country for 2 weeks.

To be safe I would rescind with both. You are doing the right thing by cancelling the purchase.

Maybe one of the other Diamond mavens will chime in on that.