just called and backed out

[dalt01]

i am in the automobile business and it has been hit pretty hard by the events of the past months and when they messed up my paperwork and had to re-issue it i had time to think and came to the realization that the timing is just not right. maybe later. any other storys of folks who have made the same decision??? and will i have trouble getting my deposit back?

 

[Cmbar]

We are in the same boat, although we did not go to contract yet. Was just about to look into a home equity for part of the financing but have decided it is not the best time to buy into a timeshare even if it is Disney

My Dh is in the Stock market business and although they have assured the employees that no layoffs are coming, I think it is suffice it to say we won't see the bonus we were expecting which was going to be a good portion of the DVC buy. Of course we leave for the cruise in two weeks and if they give us good incentives it might push us over, but I am thinking we will just wait out the economy. I expect it to get better after the elections because regardless of who wins, the election will be over and we won't have to hear the media talk about all the doom and gloom. Other than gas prices, I haven't seen too much impact, but we weren't big spenders anyways, so maybe that is why. Out stocks took a hit, but that is what happens when you play the stock market. It is always a gamble!!

Sorry you had to back out and I hope you get your deposit back! There will be another time to be a DVCer!!

 

[Deb & Bill]

As long as you bought through Disney and not a resale. If you bought a resale and backed out, you are out your deposit.

 

[ldo]

all states have very specific timeshare laws. DVC might just honor a phone call (IMHO, they're such a reputable company, I could see them doing that), but please check to make sure you don't need to send in a letter stating you want to cancel. Most other timeshares will not allow rescission past the deadline.
Also, if you are uneasy, then it's not the right time for you---DVC will be there when you are ready.
You could always start a "trial DVC fund" and sock $ into it and if you do OK financially, then you have a nice down payment for the DVC in the future, and if you need to pull it out to tide you over in rough times, then you'll have it. Elaine

 

[dalt01]

all states have very specific timeshare laws. DVC might just honor a phone call (IMHO, they're such a reputable company, I could see them doing that), but please check to make sure you don't need to send in a letter stating you want to cancel. Most other timeshares will not allow rescission past the deadline.
Also, if you are uneasy, then it's not the right time for you---DVC will be there when you are ready.
You could always start a "trial DVC fund" and sock $ into it and if you do OK financially, then you have a nice down payment for the DVC in the future, and if you need to pull it out to tide you over in rough times, then you'll have it. Elaine

i have not signed anything, just recieved it, my rescission period would not begin untill they recieve my signed and dated docs. under pa law you have 72 business hours to recind after consumating but i believe this contract would would actually have a 10 day cooling off. both are moot however since i have not signed anything.

 

[Laneychris]

Good luck, I hope things get better.

 

[Moeluv4u7]

I'm NOT in the same boat but I can say I asm glad I am not- I, too, am in the auto business- We purchased the beginning of August, they did mess up my paperwork & finally got it right and we completed our process- If we had waited until recently, I would probably feel the same way you do & back out for the time being- I am glad we did it when we did so I can not have those "backing out" thoughts- I think it is the best decision we made- just wish we made it sooner- It has been a bit touchy the past month and last month we did feel a pinch at the dealership- However, our family will still be going to Disney next year regardless- I figured I would either be putting money away every month to go ONE time next year or put the money towards my DVC and go every year for the next 49 years-
We don't live tight so (we financed for now) the payment is fine and instead of paying it off in a couple years as we had planned, It may take an extra year but I am happy I am not faced with making the decision now & backing out-
Good Luck in your decision- You should receive your deposit if through Disney-
I am in a different market than you & maybe be connected to a different manufacturer but come February I believe we will see things looking up again- It will just be another "Auto" on top come that time but the credit crunch should be loosening-
I truly hope you all bounce back up there! We are part of a larger corporation so my job is secure (that is also based on "numbers") but YKWIM- Good luck up there!

 

[Rlbren]

DH and I had clsoing docs in hand back in Jan of '07 and never signed them, because I didn't feel it was the right time to purchase. We got caught up in the tour and the models and "jumped the gun" so to speak and put a $500 deposit down. When we got home, I started to get cold feet and refused to sign the paperwork. Fast forward to today and we're the proud owner of 225 points at AKV and I gladly signed the paperwork several weeks ago and the loan closes at the end of October. It just "felt" right.

BTW, we did get our $500 back from the deposit.

Good Luck with whatever decision you make!

 

[Tine731]

i am in the automobile business and it has been hit pretty hard by the events of the past months and when they messed up my paperwork and had to re-issue it i had time to think and came to the realization that the timing is just not right. maybe later. any other storys of folks who have made the same decision??? and will i have trouble getting my deposit back?

This is the exactly what happend to me. My paperwork had not arrived after several days and when I called they said it just went out. When I got the package the contracts were incorrect. I also had time to rethink the purchase...its just not the right time. You will have no issue getting your deposit back.

 

[JimMIA]

i have not signed anything, just recieved it, my rescission period would not begin untill they recieve my signed and dated docs. under pa law you have 72 business hours to recind after consumating but i believe this contract would would actually have a 10 day cooling off. both are moot however since i have not signed anything.

Under Florida law, you have 10 days after signing to rescind in any real estate transaction.

 

[jerseygal]

are rescinding...If it were me, I would send a registered return receipt letter just making sure they received it...A deposit is nothing to fool around with plus after 10 days you are legally binding to the contract.

Hope the time will be better for you in the future...We agonized over the decision, but for us it was right at that time...

Good luck to you!

 

[sam_001]

i have back out of dvc within the window and got my deposit back no problems. i rejoined a year later i got the incentives back no problems.