Anyone backed out?

[Adg0428]

We’ve signed our papers and are waiting for the seller to send theirs before we wire funds and I’m starting to get cold feet… I know the math makes sense, but seeing that much money leave my account is giving me anxiety

 

[pianomanzano]

I am a little bit, but probably just more annoyed than anything. Tomorrow will be 3 weeks since closing papers were sent out and seller still hasn't returned them and getting conflicting info on whether the seller has already sent them out. I'd say most of the worries though are stemming from that thread in the miscellaneous section about Disney selling off DVC.

 

[Adg0428]

I am a little bit, but probably just more annoyed than anything. Tomorrow will be 3 weeks since closing papers were sent out and seller still hasn't returned them and getting conflicting info on whether the seller has already sent them out. I'd say most of the worries though are stemming from that thread in the miscellaneous section about Disney selling off DVC.

Exactly. The Rumour also makes me want to back out and only lose my deposit

 

[RoseGold]

I haven't backed out myself, but I've advised plenty of people to back out, especially buying direct.

Buying resale isn't as big of a risk to me. If you change your mind, just sell in a couple years. I'd rather do that than lose my deposit. Maybe your crystal ball is different than mine.

 

[Adg0428]

I haven't backed out myself, but I've advised plenty of people to back out, especially buying direct.

Buying resale isn't as big of a risk to me. If you change your mind, just sell in a couple years. I'd rather do that than lose my deposit. Maybe your crystal ball is different than mine.

My worry now is that the rumour is true about DVC having someone else take over and the value would tank and I’d lose much more than my deposit

 

[macman123]

Ive only back out within the 10 days meaning I got the deposit back.......

 

[Amyeliza]

I've backed out during the 10 days, but not after it passed ROFR. I did go through with purchasing a property and then sell it 6 months later. I ended up breaking even because prices rose so much.

 

[crisi]

My worry now is that the rumour is true about DVC having someone else take over and the value would tank and I’d lose much more than my deposit

The chances of any sale of DVC actually going through and being completed are slim. Most times talk like this is just talk - it doesn't even look like it was from within Disney. That said, there are a LOT of reasons your value could tank practically overnight - a terrorist attack at WDW would do it. A mass shooting. A natural disaster. DVC can be a good deal, but it isn't risk free, and to make it work, you need to be able to take the small risk.

 

[kanerf]

We’ve signed our papers and are waiting for the seller to send theirs before we wire funds and I’m starting to get cold feet… I know the math makes sense, but seeing that much money leave my account is giving me anxiety

It will feel that way until your first stay at your newly purchased resort and then it will fade as you realize you get to do this again and again.

 

[Adg0428]

Ive only back out within the 10 days meaning I got the deposit back.......

wish I did that

 

[Mai Ku Tiki]

The chances of any sale of DVC actually going through and being completed are slim. Most times talk like this is just talk - it doesn't even look like it was from within Disney. That said, there are a LOT of reasons your value could tank practically overnight - a terrorist attack at WDW would do it. A mass shooting. A natural disaster. DVC can be a good deal, but it isn't risk free, and to make it work, you need to be able to take the small risk.

Very good points. And also, as with regular real estate & all investments, past performance does not guarantee future performance.

 

[Sandisw]

I don’t think anyone should go through with something they are really having doubts about. However, I would talk to the broker to Be sure it’s only the deposit at this point since you did sign the contract already.

 

[Adg0428]

I don’t think anyone should go through with something they are really having doubts about. However, I would talk to the broker to Be sure it’s only the deposit at this point since you did sign the contract already.

oh interesting.. I messaged the title company and said I had to back out. Haven’t heard back yet and didn’t think to message the broker

 

[Sandisw]

oh interesting.. I messaged the title company and said I had to back out. Haven’t heard back yet and didn’t think to message the broker

If you reached out to the title company, I think that works too.

 

[cbyrne1174]

oh interesting.. I messaged the title company and said I had to back out. Haven’t heard back yet and didn’t think to message the broker

It's good to always follow your gut instinct. I don't think DVC will ever merge with any other companies because of how much money they make from direct sales. When I made my first vacation club purchase, I researched every single major company (resale of course) and decided Wyndham because it was the best value for your money compared to Marriott, Hilton and DVC. After my couple hundred dollar purchase price, I pay about $55-$70 a night in a 1 bedroom deluxe at Bonnet Creek when I visit Orlando (Sunday to Friday). Since then, I've also added on Marriott and lurk on here to keep myself in the loop in case I ever want to add on DVC for single night weekend stays (something that costs too much in Wyndham and Marriott).

Never make a quick decision.

 

[limace]

Oh man, you cancelled after passing ROFR? Ouch.

 

[Deb & Bill]

I had two buyers back out after ROFR on a small 50 pt contract that I had a few years ago. I got half of each of those deposits and the selling agent got the other half.