Cancelling within the cancellation period….HELP!!!

[SraJ]

I hope I’m doing this right, and apologize if not. I’m new to the site. In a similar situation I’ve read many of you were in over the past few years. Serious regret set in the very night we purchased from the resort so I immediately started researching and came across this thread. I can’t thank you all enough for the info I’ve been provided just reading all these posts. My “right to cancel” page states I can legally do so “before the sixth day after signing.” We signed on the 18th, and today is the 21st. So by my calculations, this is day 3…we’ll within the cancellation period. I’ve composed a letter clearly stating that we are exercising our right to cancel, dated, signed by both my husband and myself. I’ve also included a copy of the first page of our contract with the contract number hilighted, as well as a copy of the right to cancel page. Am I leaving anything out? I will be sending via certified mail today. Thanks!!

 

[Herbalwise]

I hope I’m doing this right, and apologize if not. I’m new to the site. In a similar situation I’ve read many of you were in over the past few years. Serious regret set in the very night we purchased from the resort so I immediately started researching and came across this thread. I can’t thank you all enough for the info I’ve been provided just reading all these posts. My “right to cancel” page states I can legally do so “before the sixth day after signing.” We signed on the 18th, and today is the 21st. So by my calculations, this is day 3…we’ll within the cancellation period. I’ve composed a letter clearly stating that we are exercising our right to cancel, dated, signed by both my husband and myself. I’ve also included a copy of the first page of our contract with the contract number hilighted, as well as a copy of the right to cancel page. Am I leaving anything out? I will be sending via certified mail today. Thanks!!

Isn't there a form attached for that? The contracts I've signed lately have that.

 

[Passepartout]

I hope I’m doing this right, and apologize if not. I’m new to the site. In a similar situation I’ve read many of you were in over the past few years. Serious regret set in the very night we purchased from the resort so I immediately started researching and came across this thread. I can’t thank you all enough for the info I’ve been provided just reading all these posts. My “right to cancel” page states I can legally do so “before the sixth day after signing.” We signed on the 18th, and today is the 21st. So by my calculations, this is day 3…we’ll within the cancellation period. I’ve composed a letter clearly stating that we are exercising our right to cancel, dated, signed by both my husband and myself. I’ve also included a copy of the first page of our contract with the contract number hilighted, as well as a copy of the right to cancel page. Am I leaving anything out? I will be sending via certified mail today. Thanks!!

You should be just fine. For your peace of mind, ask for 'return receipt' It will cost some extra, but you'll be notified of when the rescission letter is picked up.

Yes, some developers include their own template for a rescission letter, but a hand written and signed one that plainly expresses your desire to not go through with the sale has stood up in courts all over the country.

Jim

 

[SraJ]

You should be just fine. For your peace of mind, ask for 'return receipt' It will cost some extra, but you'll be notified of when the rescission letter is picked up.

Yes, some developers include their own template for a rescission letter, but a hand written and signed one that plainly expresses your desire to not go through with the sale has stood up in courts all over the country.

Jim

Yes, when I mailed it I told her the contract said to mail it “certified mail with return receipt requested.” She had me fill out a little green card with my address and their address. Within my letter, I stated the contract number, the date the purchase was made, and the resort at which we made the purchase. I’m just a ball of nerves over here worried about the fact that it won’t arrive until after the five days has ended. But I watched per post mark it with todays date, and my receipt from the post office is also dated today. So I should just keep that along with a copy of the letter, right?

 

[SraJ]

Isn't there a form attached for that? The contracts I've signed lately have that.

I didn’t see any form other than this paper. I will attach it below. The date we signed (7/18) is at the very bottom, below our signatures. I sent a copy of it with the date hilighted, along with our letter.

 

[Passepartout]

Keep everything until (at least) when your down payment is safely back in your accounts.

 

[CPNY]

I didn’t see any form other than this paper. I will attach it below. The date we signed (7/18) is at the very bottom, below our signatures. I sent a copy of it with the date hilighted, along with our letter.

Can you tell us how much you paid for the contract? We like to track the amount of money TUG saved owners over the years!

 

[SraJ]

Keep everything until (at least) when your down payment is safely back in your accounts.

Well, we didn’t put any cash down. They offered a line of credit for that. So they should refund the creditor, right?

 

[SraJ]

Can you tell us how much you paid for the contract? We like to track the amount of money TUG saved owners over the years!

$18,000 is what we’ll have hopefully saved

 

[Passepartout]

Well, we didn’t put any cash down. They offered a line of credit for that. So they should refund the creditor, right?

Yes. "Rescission" means to put the sale back to before it ever happened. The loan will go back to from where it came.

 

[SraJ]

Yes. "Rescission" means to put the sale back to before it ever happened. The loan will go back to from where it came.

Perfect. I will hold on to all of my receipts. Thank you so much!!

 

[Bmatrose]

$18K for 100k points?

 

[SraJ]

$18K for 100k points?

200K points

 

[Bmatrose]

200K points

For a developer purchase that wasn't a bad price per point

 

[Bmatrose]

200K points

My first developer purchases was 60k for $13K about 7 years ago

 

[SraJ]

For a developer purchase that wasn't a bad price per point

It’s just when we got back and really thought more into it, considering our current situation, it was not a good decision for us at this time in our lives.

 

[TUGBrian]

congrats on dodging an 18,000 bullet!

now enjoy looking up resale prices =)

 

[SraJ]

congrats on dodging an 18,000 bullet!

now enjoy looking up resale prices =)

Have I dodged it though, is what I’m worried about. I sent the cancellation letter today, but by the time it arrives, the 5 day period will be over. But if the instructions in the contract say “effective on the date sent” (which is today), we should be in the clear right?

 

[TUGBrian]

the date is based on the postmark, it does not matter when they get the letter.

 

[SraJ]

the date is based on the postmark, it does not matter when they get the letter.

Awesome! And should I have used the word “rescind” instead of “cancel.” The contract said cancel so that’s what I said. I just want to make sure I’m not going to have any issues based on wording. I apologize for all the questions. This is the first time we’ve ever done this so I’m completely new to this!

 

[Passepartout]

Awesome! And should I have used the word “rescind” instead of “cancel.” The contract said cancel so that’s what I said. I just want to make sure I’m not going to have any issues based on wording. I apologize for all the questions. This is the first time we’ve ever done this so I’m completely new to this!

Feel free to celebrate. They are obligated to process the rescission, but not to tell you it's done or give you a progress report. We know it's stressful, but just know that you are off the hook.
Jim

 

[SraJ]

Feel free to celebrate. They are obligated to process the rescission, but not to tell you it's done or give you a progress report. We know it's stressful, but just know that you are off the hook.
Jim

Thank you!! I will keep y’all posted!

 

[SraJ]

Hello everyone! I mailed the letter yesterday! Today, I received an email from quality assurance officer we tried to contact on Tuesday regarding cancellation. The email stated that she tried to contact us both on Tuesday, but could not. Neither of us have any record of her calling. Should I respond, or is it likely an attempt to talk us out of rescinding?

 

[TUGBrian]

im not sure anyone is surprised they claim to have made multiple efforts to contact you but were "unsuccessful" =)

you are not obligated to do anything other than follow the directions in the cancellation section of the contract to get a full refund.

 

[SraJ]

im not sure anyone is surprised they claim to have made multiple efforts to contact you but were "unsuccessful" =)

you are not obligated to do anything other than follow the directions in the cancellation section of the contract to get a full refund.

I see! I sure did find it odd that she would reach out 10 minutes before closing time on the day before our cancellation period ends. I’ll just ignore the email and await the return receipt from the post office. Thank you!!