As this Australian reader points out, the tickets are not really “free”:
We arrived on Monday 13th June 2011 and promised “free” show tickets and lunch if we attend a presentation and showing of a Luxury Resort, which we foolishy accepted as Show Tickets were very Expensive. We were picked up and taken to GrandView with bus load of people and arrived to wait in line with hundreds. We were foolishy talked into this Timeshare with a salesman who was trained to sell “Ice to Eskimos”, and paid a deposit of $2699.
We have revocation rights under Nevada Law so we completed these forms sent original to Eldorado Resorts Corporation and copy faxed to Grandview the next day. We also returned to GrandView and confirmed that our documents would be shredded and deposit returned.
Deposit should be returned within 5 days, we are still waiting back home in Australia.
Read the rest of this entry »
Each state passes its own laws regarding the amount of time you have after buying a timeshare property to return it for a full refund. The process of returning an unwanted timeshare shortly after purchasing is known as Timeshare Rescission, or rescinding. The timeshare rescission process refers directly to the interval of time that is legally allowed to pass before you can no longer return a timeshare contract, or change your mind about your time share purchase. The ability to return an unwanted timeshare shortly after purchasing is not something your timeshare salesperson is likely to mention, but it is built into every state's legal code as a protection for consumers; some people also tend to refer to this time as the "cooling off period" following the purchase.
It makes no difference if you purchased your timeshare is through RCI, Wyndham, Celebrity, Disney, Fairfield, Hilton, Hyatt, Mariott, or another timeshare exchange company, the Right to Rescission is entirely dependent on the state law where the timeshare property was purchased. Each set of documents/purchase papers accompanying a timeshare sale will include form explaining how to rescind. It will likely be titled something similar to, "Notice of Mutual Right of Cancellation of Time Share Purchase." If you fall within the window of legal rescission, see the following post – 10 Steps to Successfully Rescind Your Timeshare – for detailed instructions on how you can complete the timeshare deed cancellation and rescission process. Below you will find the timeshare rescission period for each state, and please add your own comments below if you have had experience in a particular state.
Read the rest of this entry »
The breakdown of penalties for canceling RCI Points timeshare vacations is based on how close to the departure date the reservation is canceled. The breakdown is as follows:
- Grace Period (1 day after making transaction) 100% restoration of points and no loss of transaction fee for reservations made 21 days or greater in advance.
- 120 days or greater – 100% restoration of points and full loss of transaction fee.
- 119 days to 61 days – 75% restoration of points and full loss of transaction fee.
- 60 days to 30 days – 50% restoration of points and full loss of transaction fee.
- 29 days or less – 25% restoration of points and full loss of transaction fee.