My Timeshare Better Than DVC?

[Sammie]

I have just been on the phoe to DVC they cant change it for us, we will have to sort it out with Westgate. God I am regretting this buy.

Anyway, got a quote from a lovely man called Jim.

He said because we want to go away every other year he suggested we bought 200 points every year. One time payment of £19,600 and a discount of 1600.

This would give us a 1 bedroom apartment in Saratoga Springs. Based on when we travel in October. It sounds really good, for an extra say $3,000 we will be staying in Disney. I am so shocked at the price. I so thought it would be more, hence why I said yes to Westgate thinking if its this expensive here, cant imgaine how expensive it would be with disney. Instead we were ripped off by Westgate.

My husband is tempted to forfit the loan and just buy the DVC. We are awaiting for a DVD and information.

The only other way I can think of is if we rented out our accomodation out with Westgate to try and make money. Enough to cancel it after so long.

I dont know I am so confused and still feel so used by them.

Just so you don't get any more misinformation. A one bedroom at Saratoga will give you a master bedroom with King bed and a sofa bed in the Living room. You will get a kitchen, and large bath, and laundry, but you will not get 2 bedrooms.

For a 2 bedroom with seperate bed rooms you might need more points.

 

[angel659]

Just so you don't get any more misinformation. A one bedroom at Saratoga will give you a master bedroom with King bed and a sofa bed in the Living room. You will get a kitchen, and large bath, and laundry, but you will not get 2 bedrooms.

For a 2 bedroom with seperate sleepings are you need more points.

Hi

Thanks for that. He did say that they have scripted it as a 4, but because our children are so young they can sleep on the sofa bed. I think we will upgrade to a 2 bed when Casey gets a little older, as I dont want her sharing with the boys.

We would only use a 1 bed with Westgate so technically we are paying the same or staying at the same. Saratoga springs looks lovely. Much more theme than Westgate.

Thanks for your advice.

 

[DisneyKidds]

As for point buying advice, what we did was buy the number of points that we'd need to stay in a 2Br Villa for one week a year during the summer. In a few years that is what our travel plans will be with all the kids in school. Yes, we have some extra points now, but we didn't want to have to worry about add on's (and how to pay for them) later and the extra points now allow us to go twice a year. That's worked for us.

It looks like the DVC recommendation of a 200 point purchase is pretty on point. It takes 195 points to spend a week in a 1 BR willa at SSR in October. If you were to purchase 200 points and only travelled every other year you'd be able to spend two weeks in a 1 Br Villa during the month of October.

Just keep in mind what your future needs will be. A week in a 2 Br in October requires 255 points. So if you'll be needing a two bedroom in a few years you will need more points. Also, staying at BCV or VWL would take more pints than staying at SSR, should you desire to try those other resorts once in a while.

All in all it seems like 200 points would work for a 1 BR, just keep those other factors in mind........plus you can always add on later if necessary.

 

[doubletrouble_vb]

Angel569...

Someone gave you advice that may be your way out. Actually two someones.

They said if Westgate cannot produce the paper you have one year to cancel. You need to find out what the cancellation/recission laws are in Florida. I know there is a 10 day period but I never heard of this other escape clause. If it turns out to not be so then you need to look at the implications of defaulting. Westgate does sell to a lot of non-us citizens so they are either willing to take the risk or they have a way of making you pay.

I would also go to www.tug2.net to get more advice...a few people here have other units but most don't...and therefore can't help you.

If you decide to keep it I've only had one less than stellar experience with Westgate. Remember that people are more inclined to post bad experiences than good ones. At the same time I also use my unit mostly for trading. I have never stayed in my home unit but I have traded back to Westgate. Since you are in the UK you might find the trading capabilities of Westgate to be quite handy. Check out your unit on II (if you got II) and see what type of trades you can make. Be careful that you don't slip up and actually make a trade. In any case I love the flexibility my Westgate unit gives me...I've gotten great trades to other locations and I consider it to be paid off.

As for DVC its great but if there is one lesson you should learn from Westgate its that the burden is on you to know what you are getting into when it comes to timeshare. Assume that the corporation is an antagonist in the transaction and throughout the life of your relationship. That way you will be pleasantly surprised each time Disney waives one of its rights...and you won't be mad at those times it doesn't.

 

[doubletrouble_vb]

The whole recission thing made me want to investigate this further...

The 2004 Florida Statutes

Title XL
REAL AND PERSONAL PROPERTY Chapter 721
VACATION AND TIMESHARE PLANS View Entire Chapter

721.10 Cancellation.--

(1) A purchaser has the right to cancel the contract until midnight of the 10th calendar day following whichever of the following days occurs later:

(a) The execution date; or

(b) The day on which the purchaser received the last of all documents required to be provided to him or her, including the notice required by s. 721.07(2)(d)2., if applicable.

This right of cancellation may not be waived by any purchaser or by any other person on behalf of the purchaser. Furthermore, no closing may occur until the cancellation period of the timeshare purchaser has expired. Any attempt to obtain a waiver of the cancellation right of the timeshare purchaser, or to hold a closing prior to the expiration of the cancellation period, is unlawful and such closing is voidable at the option of the purchaser for a period of 1 year after the expiration of the cancellation period. However, nothing in this section precludes the execution of documents in advance of closing for delivery after expiration of the cancellation period.

(2) Any notice of cancellation shall be considered given on the date postmarked if mailed, or when transmitted from the place of origin if telegraphed, so long as the notice is actually received by the developer or escrow agent. If given by means of a writing transmitted other than by mail or telegraph, the notice of cancellation shall be considered given at the time of delivery at the place of business of the developer.

(3) In the event of a timely preclosing cancellation, the developer shall honor the right of any purchaser to cancel the contract which granted the timeshare purchaser rights in and to the plan. Upon such cancellation, the developer shall refund to the purchaser the total amount of all payments made by the purchaser under the contract, reduced by the proportion of any contract benefits the purchaser has actually received under the contract prior to the effective date of the cancellation, as required by s. 721.06. Such refund shall be made within 20 days of demand therefor by the purchaser or within 5 days after receipt of funds from the purchaser's cleared check, whichever is later.

History.--s. 1, ch. 81-172; s. 9, ch. 83-264; s. 65, ch. 87-226; s. 9, ch. 95-274; s. 896, ch. 97-102; s. 16, ch. 2000-302.

The full body of timeshare law for Florida can be found here... http://www.flsenate.gov/Statutes/in...teYear=2004&Title=->2004->Chapter 721->Part I

 

[dvc_john]

Angel659:
It's been pointed out that 200 points will get you 1 week every year at SSR in October, or 2 weeks every other year. And that a 2-br would require more points. However, I hope you are aware that you do NOT have to stay full weeks, and that Friday and Saturday nights are about twice as many points as Sun-Thurs nights. So your 200 points would also get you 12 consecutive days in a 2-br every other year, as long as you stayed only 1 Friday and 1 Saturday.

 

[lark]

The advice to go to the tug timeshare board is the best advice yet on this thread. If anyone other than a Florida real estate lawyer will know your options, it's the people at Tug. Give it a shot.

 

[spiceycat]

Westgate rents for less than their market rate.

right now they are having a special $29 for a studio, $49 for a 2-bedroom per night.

sorry but you can't make any money renting it out with Westgate as your competition.

they have also listed on skyauction for a while.

so sorry you are going through this....

some of these reviews aren't so bad
http://www.tripadvisor.com/Hotel_Re...estgate_Lakes_Resort_Spa-Orlando_Florida.html

 

[spiceycat]

here is there advertisment for $29
http://www.resortdealz.com/?source=goto&keyword=orlando+resorts

 

[snowbunny]

angel you need a lawyer. A good real estate attorney will have you out of this in two seconds flat. It will cost you a few hundred dollars -- don't go with the cheapest one you can find. Use Google to find a directory of licensed real estate attorneys in Florida, and then email until you find someone with good credentials that you feel comfortable with.

 

[angel659]

Hiya

Well we have some progress with Westgate. We managed to speak to our closing officer, who apparently does not work for Westgate only does the last signings.

He said two options

1) Down grade to a 2 bedroom apartment which will give you two weeks every other year the price is $7500

2) Dont pay it - because we dont live in the USA they cant do anything about it, it doesnt go on our credit file. We would even be able to buy elsewhere in Florida. It wouldnt effect us entering the USA.

My husband likes the new price, which is $90.00 per month mortgage.

What do you think? Is this offer good? Or is this still overpriced?

Thanks for all your help so far, I am overwhelmed with how much you have helped me.

 

[lark]

Hiya

Well we have some progress with Westgate. We managed to speak to our closing officer, who apparently does not work for Westgate only does the last signings.

He said two options

1) Down grade to a 2 bedroom apartment which will give you two weeks every other year the price is $7500

2) Dont pay it - because we dont live in the USA they cant do anything about it, it doesnt go on our credit file. We would even be able to buy elsewhere in Florida. It wouldnt effect us entering the USA.

My husband likes the new price, which is $90.00 per month mortgage.

What do you think? Is this offer good? Or is this still overpriced?

Thanks for all your help so far, I am overwhelmed with how much you have helped me.

I wonder whether, if you chose option 1, it would retrigger the rescission period. I have no idea whether it would, but if under Florida law, they would have to give you a new rescission period, then it might work -- take option 1 and then rescind! Just something to think about -- the advice to find a lawyer is a good one.

 

[Maistre Gracey]

I would get completely out of the deal.
To me it seems as though you want DVC, not an off site timeshare. If this is the case, you will not be happy down the road if you opt for Westgate and don't buy DVC.

I'm not sure I would just stop paying, but perhaps an attorney can give you advce on that.

Good luck!

MG

 

[rogerram]

seems like they are back pedaling if they are offering a deal for less. Maybe you have more to stand on than you think. I would still try to get out completely.

 

[Dean]

I would speak with an attorney knowledgeable in FL RE law, preferably timeshares. I doubt they'd turn it in to any credit agency, esp for overseas. One thing to point out is the 10 day right of recision begins from the point all required paperwork is delivered to you, not necessarily the day you sing the papers. Don't pay another dime until you are certain where this is going and what you are doing.

 

[CarolA]

here is there advertisment for $29
http://www.resortdealz.com/?source=goto&keyword=orlando+resorts

I'd rent from an owner before I paid the $29..... It's a pitch.. you have to sit through their talk to get the $29 rate!!!

 

[Jen D]

If your closing officer is right, just get out, and buy DVC. If you've only lost $200 that's a lucky thing.

I'm sorry you had this experience. It's all so "Glengarry Glenross."

 

[CarolA]

Hiya

Well we have some progress with Westgate. We managed to speak to our closing officer, who apparently does not work for Westgate only does the last signings.

He said two options

1) Down grade to a 2 bedroom apartment which will give you two weeks every other year the price is $7500

2) Dont pay it - because we dont live in the USA they cant do anything about it, it doesnt go on our credit file. We would even be able to buy elsewhere in Florida. It wouldnt effect us entering the USA.

My husband likes the new price, which is $90.00 per month mortgage.

What do you think? Is this offer good? Or is this still overpriced?

Thanks for all your help so far, I am overwhelmed with how much you have helped me.

STOP!!! An "INDEPENDENT" closing guy cannot make these offers... these offers are coming directly from WESTGATE. If this man is telliing you that he "negoiated down" then there is something seriously wrong here. Closing agents in the US don't do this. (And yes it's overpriced. From www.tug2.net

Westgate) Leisure Resort Orlando Floating week for sale asking: $1500 mtnc: $488
2 bedrooms 2 baths sleeps 6)

Westgate Lakes Fixed week# 41 every other EVEN year for sale asking: $3250 mtnc: $706
3 bedrooms 3 baths sleeps 10+)

 

[bongo59]

hire a lawyer asap....................and they will get you out.

 

[angel659]

Hiya

Apparently the closing officer said he spoke to account to see what he could do, but they wouldnt cancel the contract. We said we couldnt afford it so they offered us a two week contract price.

Do you think then if we said yes we would enter into another 10 day period and then we would be within our rights to cancel? Or would they just send us a new mortgage document to sign? I found this interesting? I can see what your saying.

I looked on the website for DVC Re-sales, but are not much cheaper than paying directly. Apparently if its a re-sale you lose perks of being a DVC member.

My husband thought it was expensive, which I have been trying to tell him he would of been paying this anyway with Westgate, but I dont quite think he gets it.

The reason I go to Florida is Disney and I am Disney mad. I looked on Saratoga Springs I loved the atmosphere. Is Saratoga 5 star?

How does the exchange programme work? Is it expensive.

Thanks for all your advice. Will be looking into how much a attorney would cost me, however I would be worried I would pay that money and he couldnt get the contract closed. I will have to see if we downgraded would we enter into another 10 day contact.