We got scammed into a fractional ownership with Velas Vallarta. We were promised rentals of our units through Sierra. We were even given a fax that Sierra sent to our salesman guaranteeing the rentals. We have found out that the letter is misleading because the rentals will be taken into inventory, no actually rented. They also made us sign a waiver that stated that we are not able to cancel the contract even within the five days we are alotted by Mexican Law.
We attempted to cancel the following day and were told that we would lose our $27,500 deposit and still be responsible for half the value of the timeshare. We have just learned of the Profeco, thirty days after signing the contract and are trying to fight the resort.
Please be aware that the resort can not make you rescind your rights to cancel! It is illegal and they will not give you a copy of that document so you will have no proof.
Beware of velas vallarta salespeople!
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