Down payment/rescinding?

[gsjr77 Member Find all posts View Profile Close gsjr77]

My parents went through a tour today and ended up buying after I told them I got my TS for free. They got a 32000 point package for 'only' $9000, and because they paid a full down payment they got an extra 20000 points. Im trying to convince them to rescind before coming home Monday, but Im wondering/assuming the resort may try to keep their deposit.
Does anyone know the conditions when dealing with a down payment? Anyone with info pls reply ASAP!

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

My parents went through a tour today and ended up buying after I told them I got my TS for free. They got a 32000 point package for 'only' $9000, and because they paid a full down payment they got an extra 20000 points. Im trying to convince them to rescind before coming home Monday, but Im wondering/assuming the resort may try to keep their deposit.
Does anyone know the conditions when dealing with a down payment? Anyone with info pls reply ASAP!

Their are no 'conditions,' they have the right to rescind and receive all their money back.

[Nancy Platinum Contributor Find all posts View Profile Close Nancy]

You need to follow the instructions totally.

Nancy

[dougp26364 Senior Member Find all posts View Profile Close dougp26364]

While it's a good idea to follow the instructions given to rescind, the most important thing is to get a receipt stating the company has received their letter stating they are cancellilng the contract. After than it's a moot point about any other hoops a timeshare company might want to put them through. All they have to do is notify the company, in writing, that they are rescinding the contract and, it has to be within the timeframe stated in the contract or that given by state law, whichever is longer.

Make sure they a receipt that their decision to rescind has been recieved. Otherwise anything they hand to the sales staff could get "lost" and they'll be stuck.

[gsjr77 Member Find all posts View Profile Close gsjr77]

Update

Surprise, surprise. It looks like my parents finally take my advice for once. They've decided to rescind, although they left Orlando with contract in hand. They do have 10 days to send theyre written letter, so they'll be writing it and sending it certified with return receipt.
They do want a TS, so Ill have to guide them through the process of finding what they (grandchildren) want. Or maybe transfer my Star Island TS to them and look out for OLCC