Cold Feet?!

[DizGirl20]

Anyone ever get cold feet after they signed their contract? Today I put my check in the mail (for resale) and then ran out to the mailbox to snatch it back out! It is still sitting on the kitchen table. I have 10 days to cancel... UGH!

 

[dizney4us]

well, all i can say is now is just about the best time to buy! the deals are great... if ever you want to do it, you should do it now. however, i don't know your financial situation, only you know if it is the right time for you financially. good luck!
we sure love our DVC!!

 

[Deb & Bill]

Well, if you have already signed the contract and made an offer, if you back out, you lose your deposit. I know this because I had one contract for sale and two buyers backed out after ROFR. So I got half the deposit twice (the real estate company got the other half, both times).

 

[princessfionasmom]

If you're buying a small contract resale, I say do it. The small contracts are hard to come buy and it's a great way to get your foot in the door. We bought a small contract resale then were able to add on @ BLT without having to buy in at the 160pt.

 

[DizGirl20]

Well, if you have already signed the contract and made an offer, if you back out, you lose your deposit. I know this because I had one contract for sale and two buyers backed out after ROFR. So I got half the deposit twice (the real estate company got the other half, both times).

No it didn't even get that far yet (into ROFR)... that would be a bummer to lose the deposit!

 

[Deb & Bill]

No it didn't even get that far yet (into ROFR)... that would be a bummer to lose the deposit!

But if the seller has accepted your offer, you are out your deposit.

 

[luvindisneyworld]

But if the seller has accepted your offer, you are out your deposit.

Deb is right you will be losing your deposit if you back out now.

 

[photobob]

If I had the money right now I'd snatch up a resale, there are great deals out there and they won't last forever.

 

[DVC Mike]

Some people get cold feet and second thoughts whenever they're about ready to sign a contract or make a big purchase. Others don't.

 

[Anal Annie]

No cold feet with DVC. Trying to book our 3rd trip & realizing we were priced out of the deluxe resorts and were almost priced out of the Moderates was enough for us.

The only time we ever backed out of something BIG was the first time we went to buy our house. We put down a check, wrote the contract then neither of us could sleep. We cancelled out, got our check back and thought we'd just wait a year. Got an itch to see the model again about 4 months later...went in & saw how much the prices had gone up since our first contract & realized we'd never be able to save fast enough to catch up. THEN we knew we should've done it the first time. So we picked another lot, wrote another contract & slept better knowing we were making the best move if this where we wanted to live.
(This was about 11 yrs ago when the real estate market was just STARTING to take off all crazy...)

So my advice is...can you sleep? Is the decision keeping you or your spouse up at night? It IS a good time to buy as the resale prices are a fraction of what they were a couple of years ago... If you wait too long the market could turn around...but sleep on it a night or two.

 

[DenLo]

No it didn't even get that far yet (into ROFR)... that would be a bummer to lose the deposit!

So my advice is...can you sleep? Is the decision keeping you or your spouse up at night? It IS a good time to buy as the resale prices are a fraction of what they were a couple of years ago... If you wait too long the market could turn around...but sleep on it a night or two.

You might lose your deposit, but you'll save the purchase price. If you are not ready to buy don't. Take Anal Annie's advice and sleep on it a couple of nights.

Just recheck your finances and make sure you have the monies to buy and pay the MF and any expenses you'll incur at WDW during your stays. If you are comfortable with those figures, perhaps you'll be more comfortable with purchases a DVC contract. If you are uncomfortable--then losing the deposit will be hard lesson for you, to not leap before you are ready. Sorry we can make the worry go away. But we are here on the DVC forums if you need to talk.

 

[Mickey'sApprentice]

Previous poster's are right on!

Do you have a nawing reason for why purchasing DVC may not be right? or do you just have the big purchase willies?

That's for you to decide.

Anal Annie is right...Take a night or two to sleep on it.

 

[DizGirl20]

So my advice is...can you sleep? Is the decision keeping you or your spouse up at night? It IS a good time to buy as the resale prices are a fraction of what they were a couple of years ago... If you wait too long the market could turn around...but sleep on it a night or two.

BINGO! I couldn't sleep! Hmmmm...? Maybe I'd better wait 'til it feels right (and I can sleep at night)... THANKS EVERYONE FOR YOUR ADVICE!

 

[Anal Annie]

BINGO! I couldn't sleep! Hmmmm...? Maybe I'd better wait 'til it feels right (and I can sleep at night)... THANKS EVERYONE FOR YOUR ADVICE!

So how did you sleep last night? Did you feel relief that you decided to wait? Then that's the right decision. You want this to feel good & you want to be happy about it, not stressed over the financial part. Good luck! You can always revisit the idea later.

 

[BlakeNJ]

We recently added on a 100 point contract at SSR. We got a great deal but in this economy, I do feel guilty. Especially when I see others struggling. Selfishly, now is a good time for us since we can spare the money.

I am sure I'll get over that guilty feeling when we take our extra unplanned trip!

 

[Coach81]

JUST DO IT!!!! It will be one of THE BEST investments you can make in your family!!!!

 

[aDVCguy]

Coach81 is 100% correct!
Go for it!
Absolutely one of the best investments I ever made!

I call it an investment based on the $$$ we'll save over the long run.
Still, to walk around with that blue DVC card in your wallet...priceless!

Good Luck!

I do believe in Mickey...
I do believe in Mickey...

 

[edk35]

Go with your gut instinct. You can get 50 people's advice and you and only you will know if you are doing the right thing. Now having said that ......we wished we had bought in back in the early 90's when we almost joined but we were about to move to Japan for 3 years and said "let's wait"....well that wait ended up being Jan. 2007. We regretted not doing it back then.

 

[Deb & Bill]

...Absolutely one of the best investments I ever made!

I call it an investment based on the $$$ we'll save over the long run.
Still, to walk around with that blue DVC card in your wallet...

Actually, you won't save anything and will really spend a whole lot more. Don't look at it as an investment; don't even look at it as prepaid lodging because the way the dues continue to go up, it's not even prepaid anymore.

Just look at it as forcing you to take a family vacation. That's the priceless part of it.

 

[DizGirl20]

So how did you sleep last night? Did you feel relief that you decided to wait? Then that's the right decision. You want this to feel good & you want to be happy about it, not stressed over the financial part. Good luck! You can always revisit the idea later.

Thank you for asking. This is why I love the DisBoards! While I think we have decided to wait, I just opened today's mail... it's a long story but we are getting a large tax refund!!!!

Funny how things work out sometimes. Maybe it was meant to be. Perhaps we will look at a smaller contract... I know I will sleep better tonight