I was lured to Silverleaf Resorts by a letter I received in the mail saying I was a big winner of a Cruise, and if I replied, I was also guaranteed one of four prizes: a car, a shopping spree, lots of money, or a 7 day vacation. I figured it was a scam, but curiosity got the best of me.
I took a tour of Piney Oaks Resort in Conroe, TX, and after the 20 min. tour, the sales rep Denny Moore worked on me for almost 4 hours! (of course, always being very polite and bubbly and wonderful). I had done the math and it was a big waste of money, but somehow the sales rep messed up my math and made it seem like the deal of a lifetime, so I finally gave in.
A few hours later, once I got home, I re-did the math and read the contract, and got spooked as to how much money they were going to milk me for! I got on the web and found out that, at least in Texas, by law, you have the right to cancel your contract of a Timeshare purchase without obligation if you do so within six days of signing the contract, and they are obligated to return your money within thirty days after receiving the cancelation notice (http://law.onecle.com/texas/property/221.041.00.html). Furthermore, if they make you sign a paper where you waive your right to cancel, that voids the contract. So people, if you got fooled into buying this, you may still have time to cancel! Read your contract! Use a search engine (google and such) and type your state and "timeshare cancellation" and something should come up.
The very next day after signing the contract, I mailed the cancelation notice to their headquarters in Dallas with certified registered mail (to protect myself), and I also went back to the resort and got them to sign a cancelation notice (again, for my protection), and they were very mad at me (totally different from when they were working on me to sign!) The lady actually complained to me that they would not get their commission because of me, that I made them waste their time, and that all the incentives they gave me at the time of contract signing (which I intend to use) are paid for by the salesperson, so I was being unfair and irrational and was taking advantage of them. Unbelievable
Review about: Silverleaf Resorts Vacation Ownership.