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Sammy01 Non Member Posts: 2 From: Registered: May 2005	posted 05-11-2005 19:27 I purchased (my first) 3 bedroom 2 bath timeshare in Lake Buena Vista FL while I was down there vacationing last week. I purchased directly from the company. The resort has existed for about 20 years and is being remodeled and updated. The maintenance fees are $630 and taxes are $70. I paid $14,500. It is a good week, at least that is what they tell me. It is mid July. After reading many of the posts on this site, I am starting to think that maybe this is not such a good deal. I haven't seen anything for resale for this particular week, so I don't have anything to compare it to. I have until Friday to back out of the deal. Any guidance from the more experienced timeshare owners would be greatly appreciated. Thanks! IP: Logged
seenett TUG Member Posts: 945 From: Oregon , USA Owner: Marriott BeachPlace; Foxrun; Westin Kierland Registered: Jan 2001	posted 05-11-2005 19:37 You are right, it is not a good deal. Take a look at TUG's own classified ads and you will see many similar units in the Orlando area selling for about 2/3 less than what you paid. Rescind now! ------------------ Chris IP: Logged
cz TUG Member Posts: 3296 From: The Rushes wk 26, Lake Forest wk 3, Chrismas Mt 5 UDI's up to 17 wks each UDI. 2 Cottages & 3 OakTimbers. RCI Pts, Florida Bay Club, Key Largo Registered: Mar 2002	posted 05-11-2005 19:43 Sammy, check the ebay completed Florida attractions auctions and you will see that you are over paying by at least $10,000 IMHO. Make sure to recind in the proper legal manner by certified mail and request that someone has to sign a deliverly reciept. Welcome to Tug. Bruce ------------------ Bruce F. & Judy Czajkowski, Kansasville Wi. Judy is a teacher and Bruce is retired and thinks that you are never to old to have a happy childhood. Also own at the Sea Club IV,Daytona Beach Shores. The Driftwood Inn in Vero Beach wk 1 unit 3031, wk 10 unit 230"D", wk 11 unit 3030, wk 14 unit 220"E" and a week 48 at Rayburn Country that is somewhere in Texas. IP: Logged
jperkins TUG Member Posts: 55 From: Eden Prairie, MN OWN: Pueblo Bonito at Emerald Bay, L. Welk Villas, Carlsbad Inn & Laguna Surf, Club del Soleil, San Clemente Inn, Peppertree @ Wi Registered: Feb 2003	posted 05-11-2005 19:45 I would rescind while you can. Much better deals can be had!! IP: Logged
needavacation TUG Member Posts: 540 From: Wisconsin Registered: Apr 2001	posted 05-11-2005 20:03 I'm 100% sure you should rescind. Read the part of the contract about rescinding very carefully and follow it exactly. Make sure you have proof that you rescinded within the allowable time period. IP: Logged
Segiah TUG Member Posts: 765 From: Brackney PA USA Jockey Club Las Vegas NV, Hotel De L'Eau Vive New Orleans LA, The Courtyards New Orleans LA, Ocean Landings Cocoa Beach FL Registered: Dec 2000	posted 05-11-2005 21:16 Sammy, Recind immediately. Purchase price is too high and MF is out of sight. P E H IP: Logged
sfwilshire TUG Member Posts: 2323 From: Clinton TN Registered: Jan 2003	posted 05-12-2005 02:18 Sammy01, Definitely too high, though the maintenance fees are pretty typical for Orlando. What is the resort? You mention not seeing other similar weeks for sale, but most 20 year old resorts have plenty of resale listings. Maybe we can help you locate some. Every new resort in Orlando seems to be spiffier than the last, making it tough for the older resorts to keep up. Only a few of the oldies (like Sheraton Vistana) seem to really pass the test of time in holding their value somewhat. Summer is a decent time in Orlando, but is not the highest demand. Spring break and Christmas/New Years take that award. Rescind while you can and stick around here a while. You'll learn a lot. Sheila IP: Logged
Zac495 TUG Member Posts: 438 From: Limerick, Pa Registered: Jul 2004	posted 05-12-2005 03:39 Cancel immediately. Be forewarned. They will try to offer you something cheaper - give you incentives like bonus weeks. They may even try to tell you (this happened to me) that you can't cancel. They may try to tell you you'll owe the closing costs (not true). They'll do anything to get you to wait those 2 days. CANCEL. And then join TUG. The 15 dollars will save you even more than we already did!!! ------------------ Cheers, Ellen [This message has been edited by Zac495 (edited 05-12-2005).] IP: Logged
grest TUG Member Posts: 1623 From: Ocala, FL;, Mt. Amanzi, Place on the Bay, Seapointer, Strand Pavilion Registered: Dec 2000	posted 05-12-2005 04:01 Hi sammy, Good for you for checking this out while you still have the opportunity to rescind. As you can see, the recommendation here is to cancel right away. There is a great deal of good information on this site, and you'll save a lot of money by reading first, soaking up the information, then buying something that works for you...you'll be glad you did! Connie IP: Logged
capekong TUG Member Posts: 637 From: Southeast Missouri Registered: Mar 2004	posted 05-12-2005 04:23 I would agree with the rest - cancel for now. Check out ebay, bidshares, TUG, Redweek, etc. We brought our first time share at OLCC from the developer and I have seen it go for 40% of what we paid, with the benefits. Also, have you been there in July? We were there the first week of August one year, my wife had a conference and it was really hot and humid! You can see a lot of exchanges for that time of the year. With Bidshares you can sign up what you are looking for and they will send you a notice when a unit meeting your requirements is put in their system. I see many 3 bedrooms in the Orlando area. IP: Logged
Mel TUG Member Posts: 1684 From: N Smithfield, RI - owner: Orange Lake Country Club, Kissimmee FL; Tropical Breeze Resort, Panama City FL Registered: Dec 2000	posted 05-12-2005 05:20 First, rescind. Second, start looking for listings, and consider what you really want. If you liked that resort, there's not much you can do about the annual fees, but there are resorts in the area with slightly lower fees. Which resort is it? Did you buy because youwant THAT specific resort, or becuase it was a nice resort. Even if you can't find the week you want at that resort, you should be able to find one at any of the nicer resorts for less than you were paying. You're talking about a 20 year old resort, so there will be resales available, it's just that a 3BR may be a little harder to find, only because the resorts started building them more recently. (Orange Lake, for instance, put the first 3BR units in the Tennis Villas, which are just barely part of the West Village complex - 40 of them among what was then already hundreds of units. There are more now, of course, because they sell well. Do you really need a 3BR unit? It will cost more, and be harder to find, but will not really be worth that much more - thare are still not that many 3BR units in the exchange programs, so unless it's a lock-off there isn't a big advantage when trading. Tell us what you're looking for, and many of us can set you on the right path. ------------------ Melinda Towne Come visit my homepage IP: Logged
maverick TUG Member Posts: 950 From: Long Island, NY Registered: Aug 2001	posted 05-12-2005 06:29 Don't even need to read your post or the others. Your title tells me enough. If you're not sure of this major purchase BACK OUT! ------------------ "In the days of my youth, I was told what it means to be a man, Now I've reached that age, I've tried to do all those things the best I can." Led Zeppelin IP: Logged
Sammy01 Non Member Posts: 2 From: Registered: May 2005	posted 05-12-2005 16:27 Wow! Thank you to everyone for the information! A couple of people asked the name of the resort. It is Celebrity Resorts Lake Buena Vista. I didn't choose it because fell in love with it, but I did like the idea of a 3-bedroom with the lock-out feature. Anyway, I am taking your collective advice and sending in my letter first thing tomorrow morning. I would have done it today, but I didn't get to the post office in time! Thanks so much for all of the input. What a great site with such kind and well informed people too! I am glad I found it! I will definitely become a member. Thanks again! IP: Logged
schiff1997 Non Member Posts: 12 From: Pembroke Registered: Jan 2005	posted 05-12-2005 19:44 Sammy, just bought week 10 (our Canadian Spring Break) 3 bedroom lock off at Celebrity Resort Lake Buena Vista from ebay in January this year for $649.00. Rescind my friend wait for the deals. They will come in. [This message has been edited by schiff1997 (edited 05-12-2005).] IP: Logged
sfwilshire TUG Member Posts: 2323 From: Clinton TN Registered: Jan 2003	posted 05-13-2005 02:00 Wyndham Palms has both 2 and 3br lockouts and units show up on eBay and other resale sites pretty often. The maintenance fees are fairly high, but the resort is nice, particularly for the golfers. There are others with lockouts as well. Sheila IP: Logged
nthc TUG Member Posts: 1091 From: VA Registered: Aug 2002	posted 05-13-2005 11:08 CANCEL!!! If you change your mind later and want to buy there I am sure they will sell you another! IP: Logged
Hatrack79 TUG Member Posts: 1865 From: Denver, CO Registered: Oct 2001	posted 05-13-2005 12:12 Welcome to TUG Sammy. Congrats on you're finding TUG in time to recind. We're all happy for you. (kind of the David vs. Goliath victory!) Come back and tell us what you're going to do with that $10k or $12k you just saved! Hat IP: Logged

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