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Recission letter info - MVC

N

Nikelegends

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Feb 15, 2023
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Hi. Hope this is in the right section and place but need assistance. (Posted in mvc but wasnt sure if that was right place and unable to delete) Signed an marriot contract/mortgage yesterday in florida but would thinking about getting out but considering options Thanks to finding this forum i believe i have 10 days to rescind. However i cannot find exact info in the usb that MVC gave us. I can only find that it says i have 10 days but theres no instructions other than an address. I dont want to give them an opportunity to reject this. Is there a specific form or document with instructions they are supposed to include? Searched this forum but couldn't find anything else. Any help would be greatly appreciated!
 
There are probably templates around in most of the forums. I have posted many. Basically, just a letter in plain language that conveys that you wish to not go forward with the purchase. Date it. Include the sales account #. Both you and your spouse sign it. No need for a reason. Send it to the address you have by USPS Certified so you have a tracking record

It can take up to 45 days to see your refund, and they are not obligated to inform you. Just know that it is not optional for them to decide. They MUST process the rescission.

Jim
 
Ok another stupid question how will we know the contract has been cancelled if they are under no obligation to inform us. Other than possibly being issued a refund ( deposit was paid on credit card)? This site has been super helpful! Thanks in advance.
 
Nikelegends said:
Ok another stupid question how will we know the contract has been cancelled if they are under no obligation to inform us. Other than possibly being issued a refund ( deposit was paid on credit card)? This site has been super helpful! Thanks in advance.
Click to expand...
You won't. We know it's stressful, but the only clue is when the refund posts to your cc. Sorry, but that's how it is. Just know that the rescission WILL happen. It isn't optional for the seller.
 
sorry one last question. do i need to do anything about the loan associated with the contact, or does this get cancelled as well?

this is so stressful but reading all the forums makes me feel better that we doing the right thing
 
Other than the harrowing experience you had and the stress you are feeling right now, everything will be as if you had not gone to that presentation.
 
Hello, I am wondering what on earth would you get for $80,000? I can't even imagine what would be worth $80,000, except maybe living at the Westin St. John for one month per year. Because you still have to pay an annual maintenance fee. Did you consider a break even point or anything?
 
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