When does 10 day rescission start? Upon signing or upon closing?

[Duckbug.Ducktales]

I ask because the guide said it starts upon closing, which won't be for 3 months from today because we're paying it on Disney Visa in 3 monthly payments. We're buying BLT.
But just in case the pricing on VGF is ridiculously good and we decide to change (still very unlikely but I want the option), is it true that we'd still be able to even if we sign today? March 3 is more than 10 days from today. My guide says so but I don't know how well-versed she is on this stuff. I wonder sometimes.

 

[Sandisw]

I believe it is 10 days from when you sign the contract to purchase. Now, DVD can certainly allow someone to cancel or change after that if they want, and can put it out until closing, but technically, it can be enforced from 10 days from the date someone signs to buy.

There has already been a report that they allowed a new buyer to change from AKV to BLT beyond that 10 days period. So, if your guide is willing to allow the change, or tells you you can, then I would confirm that in writing with him/her that is your plan.

 

[Duckbug.Ducktales]

I believe it is 10 days from when you sign the contract to purchase. Now, DVD can certainly allow someone to cancel or change after that if they want, and can put it out until closing, but technically, it can be enforced from 10 days from the date someone signs to buy.

There has already been a report that they allowed a new buyer to change from AKV to BLT beyond that 10 days period. So, if your guide is willing to allow the change, or tells you you can, then I would confirm that in writing with him/her that is your plan.

Hm, thanks. I'll ask to get it in writing.
Or I could just get the contract today and not sing until Tuesday.

 

[DVCsloth]

I'm probably going to be using the 10 days because I'm debating adding on to my CCV March use year and get 2021 point or adding onto my VGF contract. I already know I won't get 2021 VGF points, but I may wait to see the price before I close on CCV. Probably going to stick with CCV since I will get 2021 points, and I think VGF will be too Studio heavy for us. We love the Villas and the Studios, but really prefer the 1BR.

 

[Brian Noble]

the guide said

There is a clause in the disclosures that you must initial to acknowledge that you are not depending on any verbal representations during the sales process. If it is not in writing, it didn't happen.

 

[Jimmy Geppetto]

Hm, thanks. I'll ask to get it in writing.
Or I could just get the contract today and not sing until Tuesday.

The recession clause is in your documents.
It’s 10 days from when you sign the contract. If there are multiple names on the deed, then it’s 10 days from when the last person signs.

If you’re looking for extra time, you could drag your feet on signing the docs. The points will still be in your account about 24 hours after paying the deposit.

 

[Duckbug.Ducktales]

If you’re looking for extra time, you could drag your feet on signing the docs. The points will still be in your account about 24 hours after paying the deposit.

This is what we're doing, actually--we got the contracts emailed already but will wait to sign until Tuesday. The guide isn't back in the office until then anyway.
Oddly, we haven't paid anything yet, she's supposed to call us back to get credit card info (seems a bit flustered about figuring out how much to put toward each contract). But the points are already on our account! Magic... lol

 

[FitzDisney10]

I'm probably going to be using the 10 days because I'm debating adding on to my CCV March use year and get 2021 point or adding onto my VGF contract. I already know I won't get 2021 VGF points, but I may wait to see the price before I close on CCV. Probably going to stick with CCV since I will get 2021 points, and I think VGF will be too Studio heavy for us. We love the Villas and the Studios, but really prefer the 1BR.

We are in a similar situation. We want to add-on some direct AKL points. With our March UY, we can get the 2021 points, but she said we would need to purchase by 2/28. So 2 questions - in this scenario, do we pay 2021 and 2022 dues? And if we do this and better incentives are offered on 3/3, as long as we are within 10 days we can change it? But then I’m assuming we forfeit the 2021 points. Our guide is off today, so I plan to ask her these things, but I’m curious to know what you’ve been told.

 

[DVCsloth]

2021 dues should be pro-rated, so they will most likely be $0. Yes, whatever the incentive is 3/3 you will get the incentive but not 2021 points since you will into 2022 use year.

 

[Sandisw]

We are in a similar situation. We want to add-on some direct AKL points. With our March UY, we can get the 2021 points, but she said we would need to purchase by 2/28. So 2 questions - in this scenario, do we pay 2021 and 2022 dues? And if we do this and better incentives are offered on 3/3, as long as we are within 10 days we can change it? But then I’m assuming we forfeit the 2021 points. Our guide is off today, so I plan to ask her these things, but I’m curious to know what you’ve been told.

Dues are based on calendar year so you only pay from the date you buy. So, if you buy this week, you will pay prorated 2022 dues from the day you sign.

I would caution that I would not wait until the 28h since you have to be able to call to get those 2021 points banked. You don’t want to run into a problem.

If you buy on the 27th first thing, you will have points that day and then have time to call MS to get them banked!

 

[Red Dog Run]

We are in a similar situation. We want to add-on some direct AKL points. With our March UY, we can get the 2021 points, but she said we would need to purchase by 2/28. So 2 questions - in this scenario, do we pay 2021 and 2022 dues? And if we do this and better incentives are offered on 3/3, as long as we are within 10 days we can change it? But then I’m assuming we forfeit the 2021 points. Our guide is off today, so I plan to ask her these things, but I’m curious to know what you’ve been told.

You will pay just the 2022 dues. I did this the same thing you are asking about better incentives. As long as you are in the closing stage, you are still eligible for accessing any discounts that would come available prior to closing. I bought in 3 stages: down payment with cc/ 1 month later 1/2 of remaining, and 1 month after that, the last payment. I was eligible for alterations on the contract (same resort, use year, points) for better incentives until the actual closing which could not be done until I paid in full. I only paid current year dues/got the prior added and banked since I bought in Feb for a March use year, and paid it off in the above-mentioned stages. This was in 2021, so if anything changed, I don't know. However, this was also the practice allowed before I purchased.

 

[Sandisw]

2021 dues should be pro-rated, so they will most likely be $0. Yes, whatever the incentive is 3/3 you will get the incentive but not 2021 points since you will into 2022 use year.

No 2021 dues are paid. Only 2022 which are prorated from date of purchase.

Someone buying today with a March UY pays about 10 months of 2022 dues, but gets 2021 points,

Someone who buys March 1st, still pays 10 months of dues but only gets 2022 UY points.

 

[DVCsloth]

No 2021 dues are paid. Only 2022 which are prorated from date of purchase.

Someone buying today with a March UY pays about 10 months of 2022 dues, but gets 2021 points,

Someone who buys March 1st, still pays 10 months of dues but only gets 2022 UY points.

I get it now. Thanks for clearing this up, for some reason I was having a hard time with it.

 

[FitzDisney10]

You will pay just the 2022 dues. I did this the same thing you are asking about better incentives. As long as you are in the closing stage, you are still eligible for accessing any discounts that would come available prior to closing. I bought in 3 stages: down payment with cc/ 1 month later 1/2 of remaining, and 1 month after that, the last payment. I was eligible for alterations on the contract (same resort, use year, points) for better incentives until the actual closing which could not be done until I paid in full. I only paid current year dues/got the prior added and banked since I bought in Feb for a March use year, and paid it off in the above-mentioned stages. This was in 2021, so if anything changed, I don't know. However, this was also the practice allowed before I purchased.

Thank you! This is all very helpful!!

 

[FitzDisney10]

Dues are based on calendar year so you only pay from the date you buy. So, if you buy this week, you will pay prorated 2022 dues from the day you sign.

I would caution that I would not wait until the 28h since you have to be able to call to get those 2021 points banked. You don’t want to run into a problem.

If you buy on the 27th first thing, you will have points that day and then have time to call MS to get them banked!

This is good to know, I didn’t think about that. So really I only have until 2/27 at the latest.

 

[Sandisw]

This is good to know, I didn’t think about that. So really I only have until 2/27 at the latest.

As far as I am concerned, yes, Never leave anything to the last minute with Disney.

If those points didn’t load in time, you’d be out of luck once the 2022 UY hits…

 

[dvc lover 1970]

You jave 30 days to sign the contract. Take the 30 days.

 

[Duckbug.Ducktales]

You jave 30 days to sign the contract. Take the 30 days.

I did realize they would allow it to sit that long!

 

[DVCsloth]

You jave 30 days to sign the contract. Take the 30 days.

Just need to make sure points are loaded and you need to contact member services to bank them for you.

 

[dvc lover 1970]

I did realize they would allow it to sit that long!

Every direct purchase I made I waited until pretty much the last day to return the paperwork. In the end I did end up buying each contract, but I needed the 30 days to think about it and take some pressure off myself.