Post reply

Re: Orange Lake Holiday Inn Resort... Good deal? (by Lance C.):

jerrya136 wrote:

They told us during the presentation that if you aren't a member you cannot come back for 4 years. RCI rule they claimed.

These sales people will tell you anything, including bold-faced lies, to get you to buy. The four-year rule applies to exchanges only. You can rent from another owner whenever you jolly well please.

My stern advice is to rescind your purchase. Florida law allows you ten days from the day you signed the contract to send it certified mail. Get drafting your rescission letter immediately. Follow the directions very carefully given to you in the owner's package you received and send it via the method stipulated in your instructions. Likely they will say to send it via certified mail.

There are probably hundreds of units available for resale at Orange Lake for a lot less than $12,000. If you check out E-Bay, you might even see some being given away for one dollar (or even free) with the seller paying closing costs and even the next maintenance fee. The other thing I would watch out for is taking one on even if it is free. Remember, you will have to pay maintenance fees each year (right now about $800-$900). You can probably rent from a current owner for less than that and RCI can not restrict you from doing so more than once every four years.

So first things first. Get drafting and sending your letter to rescind your purchase. Then take some time (time that these sales people did not give you) to really analyze what you want and need with regard to vacation property.