When are members charged for cash reservations?

[Mississippian]

I think I've read mention before that members who make a cash reservation through DVC do not pay until they actually check in. Is this correct? Is there no immediate charge?

I have a trip booked for Vero next spring, and I could have booked a Friday night in a 2-bedroom for something like $700 (I think). I didn't do so, but am kind of wishing I had.

Obviously it makes a bit of a difference if I don't have to pay for the room now. Also, I would assume I can cancel. Anyone know the time frame for that?

Thanks

p.s. I may be wrong about the 2-bedroom cost. That's just what I remember.

 

[RobDoc]

The room would be paid for at check-in. I think the cancellation period is 5 days.

 

[DVCconvert]

Is there no immediate charge?........
..... Also, I would assume I can cancel. Anyone know the time frame for that?

That's correct, you'd be charged only at check-in, or if you cancel within the penalty period. Technically, I'm pretty sure that you'd have to cancel on or before the 6th day prior to your check in date to avoid being charged the cost for 1 night of the reservation.

HTH