Canceling direct purchase

TinkB278

Mouseketeer
Joined
Aug 27, 2017
I’m thinking about buying RIV direct in the next couple days. I just want to make sure in case buyers remorse kicks in big time... there is some rule that allows me to cancel the purchase shortly after buying where I can still get my down payment and all money back, correct?
 

Sandisw

DVC Forums
Moderator
Joined
Nov 15, 2008
Once you sign the purchase agreement, you have 10 days to cancel out of the sale and get all money returned.
 

Theta

DIS Veteran
Joined
Dec 30, 2007
I’m thinking about buying RIV direct in the next couple days. I just want to make sure in case buyers remorse kicks in big time... there is some rule that allows me to cancel the purchase shortly after buying where I can still get my down payment and all money back, correct?

Were you able to take advantage of any of the incentives?
 
  • i<3riviera

    🍷
    Joined
    Mar 8, 2020
    here's the language from the contract with the contacts to ensure you're giving proper notice ...

    527312

    best of luck whatever you decide! certainly worth additional thoughtful consideration with the amount of money on the line!
     

    TinkB278

    Mouseketeer
    Joined
    Aug 27, 2017
    Thank you all!!

    I did the virtual tour last week so the incentives expire for me tomorrow. I’m having such a hard time deciding. I’m worried I will have regrets either way.
     

    Lorana

    DIS Veteran
    Joined
    Jan 30, 2001
    Thank you all!!

    I did the virtual tour last week so the incentives expire for me tomorrow. I’m having such a hard time deciding. I’m worried I will have regrets either way.
    Ultimately, only you can decide what is the right decision for you.
    I am the type of person who always has regrets, no matter what decision I make, because I over analyze everything, and so I'm always weighing the pros and cons. I love Disney, we spend a lot of money over the years in Disney, the numbers tell me it makes sense for us to be DVC members, and yet as happy as I am to be part of DVC, I still have moments where I regret the purchase, because I keep thinking I could have kept that money invested for retirement, lol. So I totally get the worry that you will have regrets either way.

    I have both direct and resale points. I have Direct for the discounts on APs (which save us about $1600/year), the ability to book RIV and future resorts, and honestly for that "bad option" of using for cruises, ABD and other options should the rental market bottom out. (Right now, if I decide to do other trips, my intent is to rent out points to cover those other trips, but I wanted the option should renting not be viable in the future). I also picked up 2 Fixed Weeks to secure those critical Thanksgiving and first week into December weeks at Copper Creek. I have resale for the significant upfront savings on adding on more points, and because I can still use them on the existing 14 resorts.

    I was originally against Riviera, and admittedly am the one who is doing the "was this the right choice?" But my husband really loved Riviera based on the sale presentation and all the videos watched of the walk-throughs. We love the Boardwalk area, World Showcase of Epcot, and love the idea of Skyliner access to Epcot and Hollywood Studios. The rooms at Riviera are huge, and even studios sleep 5, which is critical for our family (our two sons won't share a bed). I was turned off by the points cost and the dues. My DH eventually convinced me that the difference in dues is likely not to remain so large, because new DVC resorts don't increase much in the first 3 years usually, and the other resorts will continue to do so. ANd if you look at VGF and BLT, the point chart is actually less than them. We like the location and the access, even if the theming is different than our usual (we are more BRV/CCV and AKL kind of folks). But because of the incentives, we got a really low buy-in cost for Riviera and that is ultimately what allowed my DH to convinced me to go with the direct purchase -- we'd likely never see such inexpensive direct prices again, and these points can be used anywhere. Admittedly, we have no idea what the resale market is going to look like, but it's not our *intention* to sell these, so we decided to risk it. We did it as two small contracts so hopefully they'll retain better value if we do need to sell.

    I recognize this may not help you, but maybe sharing my own thought process might help? At the very least, do listen to your gut, but also consider what are the most important things to you. If you are determined that you are going to own DVC no matter what, weigh not just the financial aspect, but what will make you happy. In the end, it's the happiness - or lack thereof - that you'll remember most down the line (presuming DVC is not a financial burden to you).
     

    TinkB278

    Mouseketeer
    Joined
    Aug 27, 2017
    Ultimately, only you can decide what is the right decision for you.
    I am the type of person who always has regrets, no matter what decision I make, because I over analyze everything, and so I'm always weighing the pros and cons. I love Disney, we spend a lot of money over the years in Disney, the numbers tell me it makes sense for us to be DVC members, and yet as happy as I am to be part of DVC, I still have moments where I regret the purchase, because I keep thinking I could have kept that money invested for retirement, lol. So I totally get the worry that you will have regrets either way.

    I have both direct and resale points. I have Direct for the discounts on APs (which save us about $1600/year), the ability to book RIV and future resorts, and honestly for that "bad option" of using for cruises, ABD and other options should the rental market bottom out. (Right now, if I decide to do other trips, my intent is to rent out points to cover those other trips, but I wanted the option should renting not be viable in the future). I also picked up 2 Fixed Weeks to secure those critical Thanksgiving and first week into December weeks at Copper Creek. I have resale for the significant upfront savings on adding on more points, and because I can still use them on the existing 14 resorts.

    I was originally against Riviera, and admittedly am the one who is doing the "was this the right choice?" But my husband really loved Riviera based on the sale presentation and all the videos watched of the walk-throughs. We love the Boardwalk area, World Showcase of Epcot, and love the idea of Skyliner access to Epcot and Hollywood Studios. The rooms at Riviera are huge, and even studios sleep 5, which is critical for our family (our two sons won't share a bed). I was turned off by the points cost and the dues. My DH eventually convinced me that the difference in dues is likely not to remain so large, because new DVC resorts don't increase much in the first 3 years usually, and the other resorts will continue to do so. ANd if you look at VGF and BLT, the point chart is actually less than them. We like the location and the access, even if the theming is different than our usual (we are more BRV/CCV and AKL kind of folks). But because of the incentives, we got a really low buy-in cost for Riviera and that is ultimately what allowed my DH to convinced me to go with the direct purchase -- we'd likely never see such inexpensive direct prices again, and these points can be used anywhere. Admittedly, we have no idea what the resale market is going to look like, but it's not our *intention* to sell these, so we decided to risk it. We did it as two small contracts so hopefully they'll retain better value if we do need to sell.

    I recognize this may not help you, but maybe sharing my own thought process might help? At the very least, do listen to your gut, but also consider what are the most important things to you. If you are determined that you are going to own DVC no matter what, weigh not just the financial aspect, but what will make you happy. In the end, it's the happiness - or lack thereof - that you'll remember most down the line (presuming DVC is not a financial burden to you).
    Thank you so much for sharing this with me! It really helps!

    I was always a “never riviera” person due to the resale restrictions, points chart, and MFs.AKV is my favorite resort and I had been planning on buying there. I passed up a couple great AKV contracts this spring due to a potential furlough at my job. I finally found out a few weeks ago we won’t be furloughed and now AKV is prices 20+ more per point than before and there are very few contracts.

    I know it sounds ridiculous but to me, for a $60 difference per point I would just rather go direct and have the option to stay anywhere and also receive the AP and dining discounts.

    im kind of sad about not getting AKV for $100 a point, I love how the resort makes you feel like you are far away from Florida. RIV just looks like a hotel to me. Albeit a very beautiful one. However, like you mentioned, I love the space at RIV in studios and also like how everything is brand new. We love France and so the general theme is right up our alley but I don’t think they really did as much as they could’ve theming wise.

    our guide mentioned that RIV resale owners could stay at the new resorts. With the other resorts starting to expire in 2042, I figured as long as we could hold onto aRIV contract until 2042, there isn’t much risk as I expect RIV to be a more valuable resale option at that point t. Although, who knows what the world in general will be like in 20, or 50 years. COVID has taught me that life isn’t as predictable as I once thought.
     

    TinkB278

    Mouseketeer
    Joined
    Aug 27, 2017
    He hinted at a modification to the current resale restriction?
    That’s the way it sounded to me. He made it sound like RIV resale owners aren’t restricted to just RIV but to RIV and the future resorts, I could’ve been misunderstanding the point he was trying to make but I don’t think I was?
     

    Sandisw

    DVC Forums
    Moderator
    Joined
    Nov 15, 2008
    That’s the way it sounded to me. He made it sound like RIV resale owners aren’t restricted to just RIV but to RIV and the future resorts, I could’ve been misunderstanding the point he was trying to make but I don’t think I was?
    Well, there is nothing like that now, Disney has not come out with new rules so as of today, RIV resale is only eligible for staying at RIV.

    They of course have the power to change it but so far, have not,

    Now, RIV direct points can be used at new resorts and so can anyone who owned points prior to Jan 2019.

    Resale bought after that date can not. I’d certainly get clarified and be sure to read paperwork carefully because that restriction is all over it and if it is gone, you will know!
     

    Lorana

    DIS Veteran
    Joined
    Jan 30, 2001
    Thank you so much for sharing this with me! It really helps!

    I was always a “never riviera” person due to the resale restrictions, points chart, and MFs.AKV is my favorite resort and I had been planning on buying there. I passed up a couple great AKV contracts this spring due to a potential furlough at my job. I finally found out a few weeks ago we won’t be furloughed and now AKV is prices 20+ more per point than before and there are very few contracts.

    I know it sounds ridiculous but to me, for a $60 difference per point I would just rather go direct and have the option to stay anywhere and also receive the AP and dining discounts.

    im kind of sad about not getting AKV for $100 a point, I love how the resort makes you feel like you are far away from Florida. RIV just looks like a hotel to me. Albeit a very beautiful one. However, like you mentioned, I love the space at RIV in studios and also like how everything is brand new. We love France and so the general theme is right up our alley but I don’t think they really did as much as they could’ve theming wise.

    our guide mentioned that RIV resale owners could stay at the new resorts. With the other resorts starting to expire in 2042, I figured as long as we could hold onto aRIV contract until 2042, there isn’t much risk as I expect RIV to be a more valuable resale option at that point t. Although, who knows what the world in general will be like in 20, or 50 years. COVID has taught me that life isn’t as predictable as I once thought.
    I hear you! I'm so glad I bought into AKV before the cost started to increase. On the plus side, it IS fairly easy to get AKV at the 7-month mark, so if you bought into RIV, you'd likely still be able to stay at AKV when you want. And maybe AKV prices will go down in the future and you can add on!

    My understanding, though, was that RIV resale owners could ONLY stay at Riviera. That said, Disney did give themselves the option of changing restrictions in the future.
     

    drusba

    I went to Iowa once, and it was closed.
    Joined
    Aug 19, 1999
    Under the applicable statute, Flor. Stats. sec. 721.10, which Disney follows, you have 10 days to cancel after either signing the purchase agreement, or receiving all the required documentation (POS documents), whichever is later. In Disney's case, you usually get the POS docs at the same time as the purchase agreement. Any cancelation needs to be in writing. If mailed, it is presumed under the statute to be delivered on date it is postmark. If you send electronically via email or fax, delivery is deemed to have occurred when received. (Best practice: mail a letter and send an email or fax.)
     
    Last edited:

    Wedgeout

    Mouseketeer
    Joined
    Aug 27, 2020
    Interesting sales tactic using words like ‘could’. That sounds like a politician or the cdc...could, might, chance of..., Plus speaks like in 2042 there will be a huge drop in resort options. Disney has already planned for that and will have enough points still out there and resorts available to make their desired funds. The guide has no interest in the resale future of the resort. Selling the points is the goal.
     

    dvc lover 1970

    Mouseketeer
    DVC Gold
    Joined
    May 29, 2013
    Thank you so much for sharing this with me! It really helps!

    I was always a “never riviera” person due to the resale restrictions, points chart, and MFs.AKV is my favorite resort and I had been planning on buying there. I passed up a couple great AKV contracts this spring due to a potential furlough at my job. I finally found out a few weeks ago we won’t be furloughed and now AKV is prices 20+ more per point than before and there are very few contracts.

    I know it sounds ridiculous but to me, for a $60 difference per point I would just rather go direct and have the option to stay anywhere and also receive the AP and dining discounts.

    im kind of sad about not getting AKV for $100 a point, I love how the resort makes you feel like you are far away from Florida. RIV just looks like a hotel to me. Albeit a very beautiful one. However, like you mentioned, I love the space at RIV in studios and also like how everything is brand new. We love France and so the general theme is right up our alley but I don’t think they really did as much as they could’ve theming wise.

    our guide mentioned that RIV resale owners could stay at the new resorts. With the other resorts starting to expire in 2042, I figured as long as we could hold onto aRIV contract until 2042, there isn’t much risk as I expect RIV to be a more valuable resale option at that point t. Although, who knows what the world in general will be like in 20, or 50 years. COVID has taught me that life isn’t as predictable as I once thought.
    There are still some great resale deals out there. I have seen them. Noone can tell you which to purchase. I am on the fence with RIV. I have considered selling one of my CCV contracts to buy RIV direct but the resale restrictions at RIV have made me pause. If you love AKV then go with that. I think AKV direct is the same as RIV
     

    TinkB278

    Mouseketeer
    Joined
    Aug 27, 2017
    Well, there is nothing like that now, Disney has not come out with new rules so as of today, RIV resale is only eligible for staying at RIV.

    They of course have the power to change it but so far, have not,

    Now, RIV direct points can be used at new resorts and so can anyone who owned points prior to Jan 2019.

    Resale bought after that date can not. I’d certainly get clarified and be sure to read paperwork carefully because that restriction is all over it and if it is gone, you will know!
    Just asked for clarification about this and the way I understood about RIV resale owners is correct although he said it could change due to postponement of new resorts etc.
     

    TinkB278

    Mouseketeer
    Joined
    Aug 27, 2017
    There are still some great resale deals out there. I have seen them. Noone can tell you which to purchase. I am on the fence with RIV. I have considered selling one of my CCV contracts to buy RIV direct but the resale restrictions at RIV have made me pause. If you love AKV then go with that. I think AKV direct is the same as RIV
    I’m just not finding any AKV deals anymore. I put in several offers and no one would budge. With the incentives AKV direct is more than RIV so with the shorter AKV contract also, I’d rather just go with RIV I think.
     

    harmon54

    Mouseketeer
    Joined
    Jan 22, 2009
    Under the applicable statute, Flor. Stats. sec. 721.10, which Disney follows, you have 10 days to cancel after either signing the purchase agreement, or receiving all the required documentation (POS documents), whichever is later. In Disney's case, you usually get the POS docs at the same time as the purchase agreement. Any cancelation needs to be in writing. If mailed, it is presumed under the statute to be delivered on date it is postmark. If you send electronically via email or fax, delivery is deemed to have occurred when received. (Best practice: mail a letter and send an email or fax.)
    We never signed anything but have to back out of our direct contract for now - hoping to jump back in later- I just sent an email - do you think I would have to mail a letter still?
     

    MICKIMINI

    Love the Mouse!
    Joined
    Sep 6, 2003
    Keep looking for your AKV contract if that is where you want to call "home". There is no resort like it in the world.

    It will show up when you least expect it. MF's are looming and there will likely be more listings as we get closer to the end of the year. I always suggest you write down exactly what you want...UY, number of points and resort and of course target price and whether you want banked points or stripped. You have lots of numbers floating around in your head and this will be a quick reference for you when you find a possible contract. With AKV, acting quickly is key as you know. Good luck!
     

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