T/S's in Mexico - Question re rescission details

Just returned home and yes, I bought direct; but after several sleepness nights, I did my "due diligence" and figured out all their representations was B/S and canceled on the 5th day of the "cooling off" period as set out by PROFECO. My question is this - the developer (Cabos Villa Beach Resort) has stated they will return my deposit (like they have a choice?) but in accordance with the timeframes set out by Mexican law - ie 15 days. Is this correct - I cannot find the answer on-line. Can they delay giving me my refund by 15 days ? Many thanks

I don't know about a 15 day delay. I do know the 5 day rule.

First....be happy you followed all the rules for canceling in time.

Have never read a neg about Villa Beach Resorts on any of the T/S forums, and I don't think you need to worry about getting the deposit back.

Have read about problems with some other big companies (Palace) where they fought about keeping some deposit $$$ to pay for the stuff you received "FREE???" for attending the nightmare.

Many have lost many thousands because of the time issue. I think you will be OK. Even if they can't get the $$ back before 15 days.

Whatever you do, make sure you use return reciept an all correspondence...and that is is written, not phone calls.

One person here or on tug decided they wanted out of the deal. They were still at the resort, and went back the next day to recind.

Office was happy to give them a charge back on their credit card. They found out later, the downpayment was extended into the loan. The office did not recind....and now the cooling off period was over.

Follow the contract exactly on how to get out of the deal. And have proof of all info sent....like certified mail with return reciept

Thank you for your response. Yes, I am lucky I rescinded in time - but does anyone know about the 15 day (now they say "working days") Rule ? Obviously, now my "available funds" are tied up on my credit card and my limited is affected. I do not want to pay the bill in case they don't do the refund and I need the credit card company to take action. Meantime, my spending limit remains affected. I do not understand if they say they will do the refund and have accepted my cancellation (documented in writing) why delay repayment ? Does anyone know how long - BY LAW - they have to return my money ? Thanks again

PS - where is JayJay when you need him. He seems to know all the answers to most things here.....?

I read your post but I didn't respond because I don't know anything about a 15 day waiting period in Mexico for getting your money returned to you after rescission. You might email Profeco to ask them about this 15 day waiting period.

BUT the important thing is that you did rescind and you will eventually get your money back. You did the right thing in performing your due diligence. Congratulations! jayjay

Thank you. For anyone else reading this thread, I have confirmed with PROFECO that they have 15 days to return my deposit. PROFECO actually has a useful pamphlet that is posted on the site www.mexicantimesharefraud.com that covers this amongst other things. I am happy to say that I will be one of the lucky ones to purchase my first timeshare as a re-saile and NOT from the resort/developer. I also have done my research and know where and what resort I want to buy. What is my next step to yeild the best results for myself? Put up a wish list and see what filters through ? I have looked at the resort postings but prefer to put out an "APB" and draw all owners at that resort. Your help is appreciated.

donnam326 wrote:

I also have done my research and know where and what resort I want to buy. What is my next step to yeild the best results for myself? Put up a wish list and see what filters through ? I have looked at the resort postings but prefer to put out an "APB" and draw all owners at that resort. Your help is appreciated.

Check all the timeshare ad and resale sites such as Redweek, Bidshares, My Resort Network and others (do a google search for timeshare resale sites... there are literally hundreds) and compare prices. You can also check out Ebay timeshare auctions. Don't jump on the first thing you see. Read and research before buying. Also, have a price in mind that you are willing to pay for your timeshare, after checking all resale sites, and stick to it.

You can copy and paste the url below for Ebay and do a search for Mexico:

http://search.ebay.com/timeshares_W0QQflocZ1QQfnuZ1QQfsooZ1QQfsopZ3QQsaslcZ1

donnam326 asks, quoted only in pertinent part:

>> I also have done my research and know where and what resort I want to buy. What is my next step to yeild the best results for myself? Put up a wish list and see what filters through ? I have looked at the resort postings but prefer to put out an "APB" and draw all owners at that resort. << =======================================

With all due respect, this "APB" approach is likely just wishful thinking, in essence putting the "effort onus" entirely upon sellers to seek and find you. Sellers generally just post their for sale ads and wait --- without actually undertaking further personal searches for advertising buyers. In my opinion, a far more productive (and yes, more time consuming as well) approach for you would be to exert some focused search time and effort of your own. If you're that certain about the particular area and resort at which you want to buy, it's certainly easy enough to search through "for sale" offerings for that facility on RedWeek, MyResortNetwork, TUG, Bidshares and even (the dead last personal choice of mine.....eBay).

Additionally, you can contact the resort directly. At some facilities, they maintain a list on site of units/ weeks which owners have available for sale, sometimes even when there is no actual "resales office" located on site. Just one phone call to find out.....

Good luck.

Excellent - thank you to all the regulars here to post regular to help others. I have been looking researching here and at myresortnetwork.com but just wasn't sure "which" of the gazillion other sites were legit; I want to deal with an owner vs. some finance company or "other" that basically stole their timeshare from them and whom I don't trust. I will forge ahead.

My 2 cents- This year I have purchased one Mexico Timeshare from an individual and it was fast and easy and cheap, on the other hand, I have purchased six timeshares from those whom you don't trust and so far I have had excellent results. These were from e-bay sellers with big #s and stars and positive feedback from buyers.

There are a few that I've seen complaints about (timeshare adventures comes to mind) but if you research your seller a little, you may find just as good a deal regardless of how the timeshare was obtained, plus if you use a title company you should be guaranteed a clear title without back taxes, assessments, payments or liens.

Also, I have read that some people have contacted owners with low-ball offers and because the people just want out, they've happily accepted. Good luck!