Reconsider??

[tamu91]

My brother 'bought', I use that term losely , 150 points @ SSR today from Disney. He sees the potential of DVC (flexibility, relative ease to rent out, regular vacations, etc.) but he is having cold feet about actually purchasing his points. And now, he is not sure how to tell his guide, who happens to be mine as well, that he wants to back out . Legally, he has every right to not execute the contract but has anyone gone throught this mess? Can anyone shed some light on what he should do next? Call his guide, just wait until Disney calls or send the contract back unsigned and write them a note of his intention........

 

[PamOKW]

If he truly doesn't want to purchase, he should call his guide tomorrow and tell them. Maybe they can stop the paperwork. If it's already on it's way he can return it unsigned. The right thing to do is be upfront that he is not interested.

 

[mom2rb]

Off the subject but hi tamu91. I live in Katy too. Nice to see more DVC people here.

 

[cruise-o-matic]

We got semi-cold feet. DVC sent us a contract but we didn't execute it. Decided to go resale instead.

My advice would be to go ahead and have them send the contract. He then has 60 days to think it over. If he backs out now and then decides that he does want to buy in, he may miss out on getting the incentives.

 

[gottagodisney]

What is wrong with that man? Turn down DVC?

I am from TX. also- outside of Austin (Liberty Hill)

 

[tuffy_tigger]

I believe when we got our paperwork in December there was a set of papers that you could sign if you decided not to go through with the puchase and you just had to sign and return those pages instead of the contract ones.

 

[tamu91]

Off the subject but hi tamu91. I live in Katy too. Nice to see more DVC people here.

Lets stick to the topic on hand people, I'm trying to help a helpless soul here I'm just kidding, of course
mom2rb, where are you about in Katy? I'm in CR, just off 99 & Westheimer Pkwy

 

[tamu91]

I believe when we got our paperwork in December there was a set of papers that you could sign if you decided not to go through with the puchase and you just had to sign and return those pages instead of the contract ones.

I did not know this. This would make thing lot easier for my brother if he really does decide to back out. For all I know, he might be planning on coming with us so he doesn't have to fork over any $$$
Thanks for all your advice, DVCers

 

[mom2rb]

Lets stick to the topic on hand people, I'm trying to help a helpless soul here I'm just kidding, of course
mom2rb, where are you about in Katy? I'm in CR, just off 99 & Westheimer Pkwy

I am in Canyon Gate at Cinco Ranch. About two miles from you.

 

[canda]

Most states that allow a time of cancellation even after the contract is signed. I think to sell you a timeshare in FL in your state they have to honor your states rules. Here in my state of NC, you can cancel a timeshare contract after 7 days of signing the paperwork.

 

[Silos]

Your right of recission in the state of Florida is 15 days. Therefore, after signing the contract with DVC you basically have 15 days to return to DVC a signed right of recission stating you do not want to continue with the purchase. You must follow the right of recission rules within the state of purchase.

 

[HookdonWDW]

Just make sure that he realizes there will be no sponging off your points if he cancels his contract. Maybe he's just really good at math, and realizes that "free" is a lot better than the going DVC rate.

 

[dianeschlicht]

I did not know this. This would make thing lot easier for my brother if he really does decide to back out. For all I know, he might be planning on coming with us so he doesn't have to fork over any $$$
Thanks for all your advice, DVCers

LOL! I think you better find out THAT information before advising him!

 

[cruise-o-matic]

Once he puts a deposit down and DVC generates the paper work, he has 60 days to execute it then send it back in. (Actually, maybe longer, I called between 65-70 days to see if they had cancelled and credited the $ back to us. They hadn't and advised me to send the closing docs back in the FedX envelope they provide along with a note saying we weren't going to execute.)

They also provide a "Right of Recission" document. So if you get cold feet after executing the contract, you have to get DVC that document within 15 days after executing the contract.

The 60 days gave us time to decide whether we wanted SSR or resale w/o losing the SSR incentives.

 

[tamu91]

The 60 days gave us time to decide whether we wanted SSR or resale w/o losing the SSR incentives.

This is exactly the reason why he decided to sign up. I think the current incentative ends on 2/28 so he still has 3 weeks to think things over
It's good for him but I don't want my brother to tie up any points that might be better served with someone else.

 

[Good Ol Gal]

If he really, really doesn't want to do DVC suggest he call asap. If he just seems a little scared with the payments, commitment, etc.. let him sit on it for a bit. After all, he does have those 60 days.

OT.. gottagodisney I grew up in Georgetown, TX.. my best friend lived in Liberty Hill!! Wow.. your post brought back a bunch of memories!

 

[zalansky]

What are the current incentives?

And, Cruise-O-Matic...how did you go resale without losing incentives? We bought 200 points in September 2004 and got cold feet and backed out ourselves. I recently have been looking at the resales, which are a better deal financially. Since you went the resale route with SSR, would you recommend it?
TIA

 

[Sherri]

Hi we bought boardwalk Villa's back in 96 while on a vacation travel package through our travel agent. We new nothing about the whole vacation club thing but quickly learned. We purchased, got home and reconsidered. We cancelled the transaction. I just had my husband call because I felt bad about it. Boy, did we regret it. We have since purchased Saratoga springs this past summer. It cost us SO much more then the points did back in 96. Thats what we got for being doubting Thomas's.
I sort of have regret that we didn't go the resale route. I would imagine many people would when they see the difference in price. Live and learn.

 

[tamu91]

What are the current incentives?

And, Cruise-O-Matic...how did you go resale without losing incentives? We bought 200 points in September 2004 and got cold feet and backed out ourselves. I recently have been looking at the resales, which are a better deal financially. Since you went the resale route with SSR, would you recommend it?
TIA

I think what C-O-M meant was that once you call Disney and initiate the paperwork, you'll be locked into whatever incentives DVC is offering at the time. So, if you're sitting on the fence and can't quite commit, whether to buy direct or resale, it's a good way to hedge your bet.
Currently, DVC is offering $10/pt discount @ SSR if you chose not to receive your initial allocation until 8/1. But I think this offer is only good until 2/28 and there has been rumors of another price increase