ComplaintsforBabitbay Beach Development Corporation

• Initial Complaint

  01/21/2023

  Complaint Type:

  Order Issues

  Status:

  Answered

  More info

  I request BBB assistance in cancelling our Time Share with Babitbay Beach Development Corporation. The Time Share is with **** ***** **** *** ******* owner number ***** and Contract # **** dated 9 June 2017. I am listing the circumstances with regards to ***** ****** and ****** **********, entering into a time share contract on May 31 2017. To make a long story short, while vacationing at **** ***** **** *** ******, we were approached by two gentlemen from the resort where we were invited to attend a 90-minute presentation with no obligation. The presentation took forever, and I was offered a room in the hotel. When it came time for me to leave, we were taken back to their office and the high-pressure tactics started. We did not want to buy, and they continued to pressure us for hours, until we gave in. I was in my early seventies and ****** was 74 years old and we were not in great health. So, to be blunt, they wore us out. It was hours of constant pressure to buy this time share and it has been our biggest regret! This company has been extremely difficult to talk to and each time I try to schedule an appointment, to cancel the time share or have them sell the time share. Each time we make an appointment we get blown off. We have paid over $19,000.00 to date on this timeshare loan of $14,400.00 and we have never used the time share! My current loan payoff amount is $3,789.48 at an interest rate of 9.9%. My most recent attempt to contact them about my request to cancel the contract produced an email from a *** Ashley Beetem stating that I could not cancel the contract and my only recourse is to find a new buyer and repay the loan in full

  Business response

  02/08/2023

  Please see attached response from the business.

  Business response

  02/08/2023

  
  February 8, 2023 
  

  RE: ***** ****** complaint ID ******** 
  

  ***** ********** ***** 
  

  Dear **** *******: 
  

  In reference to the file listed above against Babitbay Beach Development Corporation, B.V., please note that the reference company is a limited liability corporation registered in the country of **** *******, an island nation in the *********. Babitbay Beach Development Corporation, B.V. is therefore a business located outside of the territory in which the Better Business Bureau exercises dispute resolution assistance. 
  

  In this Kentucky office we offer a service to collect the money owed to Babitbay Beach Development Corporation B.V. for purchases made on the island of **** ******* for timeshares. Contracts are signed and sales are made on the island of **** *******. This complaint should thus not be made in the US. Rather it should be against Babitbay Beach Development Corporation, B.V. located at *** ****** **** ***** ****** of **** ******* and filed with the appropriate authorities in **** *******. 
  

  However after consulting with Babitbay Beach Development Corporations, B.V., they did confirm that *** ***** ******, along with cosignatory *** ****** **********, did purchase a contract in **** ******* on May 31, 2017, contract #****. Babitbay Beach Development Corporation, B.V. has also requested that we forward their response, which you will find below. 
  

  Firstly, *** ****** requests the cancellation of her properly executed 99-year purchase agreement and the associated loan agreement (the contract). However, as per the terms of her contract, and in accordance with the laws of **** *******, *** ****** was provided with a 5- day evaluation period following the date of execution of the contract in which she could cancel the agreement and receive a full refund of all monies paid. As no cancellation request was received within this 5-day period the contract became legally binding for the entire duration of the 99-year term. This 5-day evaluation period is clearly outlined on page 1, clause B of her contract. The full term of her contract is clearly indicated at the top of page 3 under article 1. TERM. It is for this reason that the contract is final and binding, and thus cannot be cancelled at this time. 

  
  Any further issues with this matter can be addressed to Babitbay Beach Development Corporation, B.V. in **** *******. 
  

  Sincerely, 
  
  Michele S******* 
  740 Centre View Blvd. Crestview Hills, KY 41017 
  

  
  

*Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business. ↩