Your Complete Guide to Timeshare Rescission!
Vložit
- čas přidán 15. 07. 2024
- Did you just purchased a timeshare and signed on the dotted line of a contract that has you on the hook for tens of thousands of dollars? If you did that recently, you may have an easy way out. It's called your right to cancel or timeshare right of rescission. Laws in different states and countries provide a cooling off period which grants you a short period of time to cancel your timeshare purchase. In this video I provide you with some information and tips on how to take advantage of your right of rescission on that timeshare purchase.
0:00 Intro
0:27 Disclaimer
1:31 Finding the Timeshare Purchase Contract
4:11 How Long is Your Rescission Period?
4:44 Where to Send the Recission Letter
5:04 READ THE CONTRACT!
6:19 What to Put in the Letter
7:26 Sending the Letter
10:58 Rescinding an International Timeshare Purchase
13:09 What Happens Next?
14:14 What About the Free Stuff They Gave You?
16:06 Dos and Don'ts of Timeshare Recission
LINKS;
Nolo Article on Recission by State - www.nolo.com/legal-encycloped...
TUG Article with Letter Example - tug2.net/timeshare_advice/can...
USPS Registered Mail - faq.usps.com/s/article/Regist...
USPS Certified Mail - faq.usps.com/s/article/Certif...
USPS Registered Mail International - faq.usps.com/s/article/What-i...
USPS Certificate of Mailing - faq.usps.com/s/article/Certif...
ABOUT DESTINATION TIMESHARE: On this channel, I share my best tips, strategies and advice to help you get the most out of your timeshare ownership. In addition, I also provide resort reviews, villa tours and industry news. Be sure to subscribe and sign up for all notifications so you don't miss a single episode. Best of all, subscribing is FREE!
GET STICKERS FOR ALL YOU TRAVEL GEAR
10% DISCOUNT CODE - TIMESHARE10
▸ www.theshabbysanddollar.com
JOIN THE CHANNEL FOR ACCESS TO MEMBERSHIP PERKS!
▸ / @destinationtimeshare
SUBSCRIBE FOR MORE VIDEOS!
▸ / @destinationtimeshare
ALL THE RESORTS FEATURED ON DESTINATION TIMESHARE!
▸ Resorts by Region - bit.ly/3ymVzqF
▸ Resort by System - bit.ly/3t64GJ2
WHAT TO WATCH NEXT:
▸ How to Survive a Timeshare Sales Presentation - • How to Survive a Times...
▸ Just Bought a Timeshare? | Follow the 4 R's - • Just Bought a Timeshar...
▸ 5 People Who Should Not Buy a Timeshare - • 5 People Who Should No...
DESTINATION TIMESHARE IS NOW ON DISCORD!
Join the discussion with the invite link below.
▸ DISCORD: / discord
JOIN THE DISCUSSION IN THE FACEBOOK GROUP!
▸ / 873463832989314
FOLLOW & LIKE US ON SOCIAL MEDIA!
▸ FACEBOOK: / destinationtimeshare
▸ INSTAGRAM: / melissiaandjeremytaziar
TIMESHARE ADVICE ARTICLES & ONLINE RESORT REVIEWS
▸ Timeshare Users Group (TUG) - www.tug2.net
LIKE THE MUSIC IN MY VIDEOS?
Use the same music in your videos with the link below and get a 30 Day Free Trial!**
▸ Epidemic Sound - www.epidemicsound.com/referra...
** Links in the video description may be referral or affiliate links. Using these links may provide the owner of this channel with referral incentives or affiliate commission.
#Timeshare | #TimeshareRescission | #TimeshareTips
You are the man! Most knowledgable person I know when it comes to Timeshares! This video will definitely help people!
Thank you 🙏 so much!
You save my life, I couldn’t even enjoy my vacation in Las Vegas after singing a Time share contract while I was staying in the Venetian hotel.
Luckily I was in the last day of the rescission period.
I did what you explain in the video and everything work out smoothly, I just received and e-mail that they cancel my time share contract. Thanks again …
That's awesome! You're welcome. Glad the video helped.
I’m glad I found your video and the document in the contract! Just in time ! Thanks for the tips
That's fantastic. Congratulations on learning about your right to rescind in time. That is great news!
Thanks for the information you saved us $22,000 and probably more.
Awesome. That is great. What timeshare did you buy?
And I bought it in Las Vegas and I live in California in San Francisco, and I bought it from the company Bluegreen
very good advice. Last week I got contract with marriot andaluza spain. contract says 14 days withdraw periods.
Thank you for your video. I just purchased from westgate but needing to cancel. I will send the letter asap.
Awesome. Congratulations on learning about your right to cancel before it was too late.
Jeremy, awesome video. I just left the Grand Bliss via exchange in Playa Del Carmen because of your wonderful youtube channel. Thank you. What is your intake on Vidanta, and is there any way I can come back every year to a Vidanta resort as opposed to every 3 years?
I was just wondering what youtube editor you use? Great format.
Thanks!
Hello. I have heard that Vidanta resorts are great. Though we haven't had a chance to visit them yet. Vidanta is a rare timeshare system in that they have pretty much extinguished any real resale market. This is because they have provisions in their newer contracts that you don't pay maintenance fees unless you use your week that year. So for many people the upfront money paid is sunk and they aren't concerned year to year if they don't use it. They also have very high resale transfer fees. Something like 10 times the maintenance fee just to transfer to another owner. So most people don't want to even both because they buyer have to pay $20,000 to $30,000 just to transfer the timeshare in to their name.
There are apparently some older contract that may be out there that have more favorable terms, but they don't make it to the resale market all that often. Also with the 1 in 3 type rules with the exchange companies, it makes it hard to go back year after year unless you buy direct from Vidanta for a lot of money. I would suggest checking out the Mexico Timesharing forum on the TUGBBS and search for Vidanta. This question has come up many times in the past; tugbbs.com/forums/forums/mexico-timesharing.25/
Hope this helps and thanks for watching!
Another place to look for Vidanta is Thirdhome. I believe they have keyless reservations every once in a while.
Bluegreen from Cabelas
Thanks for the videos. I attended an HGVC presentation this weekend and sent the cancellation mail via certified mail. Im thinking that a flexible timeshare may not be the worst option based on how often we travel, but I learned that I could get one for much cheaper and need to learn about the other brands first (Marriott, Hyatt, etc)
I paid approximately $13000 including closing costs for 2750 points every other year. The RCI and "cash option" programs seemed to be where I was going to make this investment valuable by using that multiple times per year. Is that something included in the resale market?
Great choice to cancel. Congratulations. You can get way more points with HGVC every year for less than you paid for the 2,750 every other year points from them. RCI Extra Vacations and Last Call (cash options) as well as HGVC Open Season are available to resale buyers. I would also suggest checking out the Timeshare User's Group HGVC owner forum. They also have forums there for all the other major timeshare brands; tugbbs.com/forums/forums/hilton-grand-vacations-club-hgvc.52/
Hello, thank you for your video. We got ourselves into believing it was a good idea to buy a timeshare on our trip fo Las Vegas. It was we signed the paperwork around 5 or 5:30pm on May 2. When we got home we sent a cancelation letter via certified mail on the 8th but the letter was dated on the 7th. Think we still have a chance to cancel? It was with Worldmark by Wyndham and it said we had 5 callender days to cancel. Which they didn't tell us. We found it on the paperwork when we got home.
Yeah, they won't tell you about your right to cancel. I hope you are successful in your rescission though I can't answer your question as to if they will honor it. They go by postmark date. Be sure to come back and let me know the result.
Hi Jeremy, question. We went through the HGV Max presentation and was dumb enough to buy the TS. We believed all of what the sales people said and ended up finding out that it was all just talk & un-promised trips. We barely got the TS in 1/20/24 I sent in our rescission letters. I also, did called our CC company and file a dispute on the down payment over $2.2K. Do you think from your experience we will need a lawyer to get out?
Thanks for you time! :)
Did you send the rescission letter within the required time? If so, they should honor it. Did you send it via some trackable method so you know they received it? It can take them up to 45 days to process the refund and cancel your contract. You shouldn't need a lawyer unless they don't process it but I would give them more time.
Hello, it's been more than a month now since you've posted. What's the result of your request for cancelation?
What does the 3 year dead line mean for rescission hope I said it right
I am not sure what this is. Is this something I mentioned during the video?
I mailed three letters of rescission 2 of which certified on 6th day of the 10 day period. The question I have is when signing the letter should the middle initial be included when signing the letter?
You would usually sign however you signed the contract. It is not about intent and they shouldn’t squabble over a middle initial. Congratulations on cancelling. If you are still intrigued about timeshare, look into resale to save thousands over what you signed the contract for.
@@DestinationTimeshare I honestly don't have any desire for a timeshare, but I'm glad I came across your video because I would be a sitting duck if I didn't. I do have one more question. Should the letters be folded into the envelopes or not folded?
Hi, thank you for your video, I bought this over a year ago, I'm paying for it, I've never used it and I don't see a way to cancel my contract, I don't even want to receive the money I've already spent on it, I just want to leave and stop spending more, do you have anything? suggestion?
Unfortunately if you still have an outstanding loan on the timeshare and you are past the rescission date, there are very few options. The one thing you shouldn't do is sign up with some timeshare exit company and pay them thousands more. They can't help you beyond what you can do for yourself. In most cases they will tell you to stop paying and send all correspondence to them. This just results in the timeshare company putting your loan in default and it going to foreclosure. You can do this yourself for free.
@@DestinationTimeshareHi - I am really hopeful to get my timeshare cancelled with Living water resorts, Blue Mountain Canada after watching your video. We have contacted an attorney and they advised us to send them an email stating all the issue and with some legal clauses as they give us the right to cancel the timeshare within one year of purchase and not using it even once. And the next step is to stop the payments right away. Do you think stopping the payment would affect the credit score?
TIA
@@Blessed_Charu I am not aware of any timeshares that have a cancellation clause up to one year if you haven't used it. You need to be careful with any attorney, it will likely just cost you a bunch of money with no results. Any kind of default can impact your credit score, especially if the property is in the same country that you are located in.
@@DestinationTimeshare - I believe the correct word would be legal section, not clause. We consulted an attorney and they told us there are certain sections which gives us this opportunity to cancel within one year. But I am concerned about our credit score. Though we are always regular with our other payments
What if you are past the rescission time period, can you still do it?
Unfortunately you can't. Though if you are just a few days past, it doesn't hurt to still send them the letter. Worst case you are still in the same position you were in before. However if you are long past the rescission period, then you won't be able to cancel your original contract under the state cancellation/rescission laws.
2:41 , Hi , i wanted to rescind the contract from mexico, can you help me on this, for your information i am within the rescission period.
All of the information is in this video. Follow the contract exactly. If you are in Mexico still you may be able to hand deliver, but look for a member or customer service group. You will also want to send via Registered Mail whether in the USA or Mexico. Who did you purchase from and how much did you pay? Are you back home now? If so, where is that?
Hi, First, I sent an email to cancel my contract with Palace Elite the next day. But when I went in person,they did not provide me any confirmation for cancelation or refund which made me worried of loosing my initial payment & they provided a better offer, which we signed a new contract. Now, I want to know whether I can cancel this new contract within the rescission period. I live in Tx. Please advice.Thank you so much for your reply.
@@CM-ng7lx If the contract provided the option to cancel via email and you used the email in the contract you should be good. You can also send a letter via registered mail to the rescission address in the contract to be extra cautious.
Thank you for your response. I appreciate
@@CM-ng7lx Any update on what happened?
Im sending my rescission letters to mexico today. Ill be watching this video everyday until i get my refund. Im terrified
Congratulations on learning about your right to cancel. You dodged a big liability. Thanks for watching!
Do you have to send copy of the contract too
And do I need to send books and things back
Ok I see about the books.
I keep my contract and send them a copy?or I keep a copy and them the original set
Do I keep the original contract and send them a copy
It it suggested to send a copy of the first page and signature page of the contract. Don't send the original, though you probably only have a copy of the contract since they retain the original you signed at closing. No need to send the whole thing. The first and signature pages are just to provide them reference to your contract as a confirmation of the being cancelled.
Congratulations on learning about your right of rescission and saving yourself thousands of dollars!
Thank you for your details and informative instructions. We just signed their contract to "upgrade" to HGV Max. They offered to transfer our exisiting equity from HGVC to HGV Max for $15,000 and new points. We were told the new MAX membership will let us be eligible to book our stays in new and more club properties in the expanded Max network. It was in Florida and contract stated 10 calendar days after signing the contract (6/23). We will send in the cancellation letter asap hope to cancel the the new upgrade.
Too late for us.
I wish we would have canceled right away.
Sorry to hear that. What did you purchase?