Just to clarify Florida law, you have 10 days from the time you sign a sales agreement to rescind (cancel) the purchase. If you do so, you will receive a full and complete refund of any monies you have paid in. This right to rescind is not a company policy, it is Florida law and applies to ALL real estate transactions in Florida.
You were
not scheduled for
"closing" today. You were scheduled to complete the purchase paperwork, and if you do so, your 10 days will start then.
DVC will wait the required 10 days before they actually legally close the sale and transfer the ownership of the points to you and record your deed.
Purchasing direct is a little confusing, because you can use your points to make future reservations but those points are not actually yours until the closing and recording of the deed is finalized and the points are deposited into your new account.
The standard advice to anyone, in any kind of real estate transaction (but especially when buying a timeshare) is: if you have even the slightest doubt, rescind.
In your case, it is possible that rescinding would cause you to lose a minor promotional discount on the purchase. Those discounts are real -- not sales talk -- but they may also be available again in the future. Or, a better discount might be available.
But that small discount is really a minor consideration. As msmithmd pointed out, the context of this purchase is actually hundreds of thousands of dollars if you add future maintenance fees and trip costs to the initial purchase price. If you're financing, you also have to add those very high costs to your total.
My suggestion is that you cancel, go home, wipe the pixie dust out of your eyes, take a couple of weeks to get back into the routine of home and work -- and then start over. Take your time; do your research.
The first question I would answer is:
"Do we want the long-term financial obligation of a timeshare (ANY timeshare)?" Is a timeshare -- anybody's timeshare -- really the
best vacation lodging solution for your family? How often would we use it? Where would we go? Are there savings to be had using a timeshare, and if so, are the savings worth the cost and long-term financial obligation?
To answer that question honestly, you have to consider
all other options -- paying cash for lodging both onsite and offsite (including typically available discounts), renting timeshare reservations (offsite or onsite) from owners, buying DVC, buying some other timeshare for a fraction of the DVC cost, etc, etc.
The best guide to all of those reality-based questions is your
actual history of vacationing. Do you
already go to WDW often enough to justify a DVC purchase, or is this your first magical trip? How do you purchase vacation lodging now? Is that method "broke" and in need of a new way of doing things? Or, are you satisfied with the present method of getting lodging?
IF you decide to purchase a timeshare, and IF you decide that DVC is the one timeshare which best meets your needs -- then, and only then, I would really research both the DVC system and how it works...AND look at the resale marketplace.
Good luck with your decision.
