Cooling off time for purchase

[Jaga]

I know that for new timeshare sales there is a cooling off period of about 14 days if you buy from the developer in Florida.

does this apply for resales? We have signed contract 3/7 ago but not yet paid a deposit and following developments this weekend find ourselves a little more financially limited than initially expected.

Can we rescind our purchase?

Thanks for your advice

 

[RobDoc]

Resales don't have that same responsibility. Since you have not paid a deposit, there may not be much they can do to you, but there is no wait period for a private sale- which is what a resale actually represents.

If you had paid a deposit, that would likely be forfeited when you back out. In your situation, it may depend on the contract you signed and what provisions would apply to a cancellation by one of the agreeing parties.

Good luck!

 

[PKS44]

My resale contract has a 10 day grace period to get out...check your contract