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Timeshare cancellation

posts: 3
Timeshare cancellation

My husband and I purchased a timeshare in los cabos mexico. early Jan2013. It was total almost US$12000 and paid down payment US$2500 by credit card.We want to cancel our timeshare since we found out that there is not much benefit of owning a timeshare and financially struggling as well. i emailed the cancellation request to the hotel accounting dep. and still waiting for their response. Is there still any ways to terrminate my timeshare?

15 replies to this topic
Staten Island, New...
posts: 10,582
reviews: 8
1. Re: Timeshare cancellation

What does your contract say regrding this? Did you cancel within the time allowed, if any?

Milwaukee, Wisconsin
posts: 7,825
reviews: 25
2. Re: Timeshare cancellation

Emailing a cancellation is rarely, if ever, allowed and binding with US purchases, so who knows about one in Mexico.

Bobcat has given you the best advice. You will need to read what your contract says and follow it to the letter.

Edited: 7:47 am, February 05, 2013
Toronto, Canada
posts: 237
reviews: 124
3. Re: Timeshare cancellation

Like Bobcat says, did you do it within the cancellation period? One good thing you put the down payment by way of credit card. Go immediately to your credit card company-give them copy of the contract and your cancellation and they should cancel your payment. KEEP copies and be sure to record the name/id of the person at your credit card company you deal with. They should have no problem cancelling at their end to the Mexican bank. If you have to eat the $2500 that would be too bad but do not send them another penny. Might be a tough lesson. Every propective buyer should read these posts.

Edited: 9:55 am, February 05, 2013
posts: 3
4. Re: Timeshare cancellation

I just spoke to the hotel membership manager and she said that the cancellation is valid only within 5 business days from the contract date and it is almost a month passed now. The only way she can do is to stop the payment and cancel the contract without the initial downpayment refund which I already paid $2500 by my credit card. She will email me of the form and I have to sign and return it to her.

Toronto, Canada
posts: 237
reviews: 124
5. Re: Timeshare cancellation

I feel sorry for you as it looks like you will be out the $2500. I wish people would really think this through before signing and paying. There are literally 100's if not 1000's of people trying to just give their timeshares away. With just about everyone owning a smartphone or computer and having internet access, I cannot figure out why people keep buying timeshares at a slimy sales presentation? It's kind of like paying for porn-why? It's totally free on line.

Edited: 12:25 pm, February 05, 2013
6. Re: Timeshare cancellation

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TripAdvisor staff removed this post because it did not meet TripAdvisor's forum posting guidelines with prohibiting self-promotional advertising or solicitation.

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Removed on: 8:36 pm, February 08, 2013
 
posts: 3
7. Re: Timeshare cancellation

I rather give up the downpayment than spending more till $12000.

I also called the timeshare lawyer and he is charging me $2000 for cancellation without refund.

I might as well deal with the resort directly and try to negociate with my downpayment like a credit or RCI points instead of refund.

The resort account manager has been co-operating with me so far so we shall see.

Thanks everyone for the helpful advise!

Edited: 12:55 am, February 07, 2013
Wellington, New...
Destination Expert
for Wellington, Bay of Islands
posts: 9,273
reviews: 105
8. Re: Timeshare cancellation

I am continually amazed how many timeshare purchasers come to TA for the first time within days of their purchase complaining about how to get out of the contract and spending thousands and thousands of hard earned dollars on their purchase. What were they doing a couple of weeks earlier and how and why did they come to TA after the purchase? For years since this forum was first started there has been advice as to the pros and cons of timeshare and particularly problems experienced with buying timeshare in Mexico.

I guess my amazement is set to continue for a few more years yet.

9. Re: Timeshare cancellation

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Removed on: 6:07 pm, June 12, 2013
 
Fort Lauderdale...
Destination Expert
for Fort Lauderdale
posts: 31,533
reviews: 12
10. Re: Timeshare cancellation

Melanie's post is really to an ad from a Mexican" Law firm" that will happily scam you as well by having you send money to hem and then doing nothing for you. They constantly troll for victims on this forum.

She joined Trip Advisor today- similar posts from other user names are removed almost weekly here.

Edited: 4:55 pm, June 12, 2013
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