I signed the papers to buy but when is it official?

I need help here. We decided to buy at HGVC after sitting through their sales pitch a few times. We bought through the mail and forgot to send a few of the papers back to them. We also did nothing to apply for their financing or pay cash. After a couple of months of them calling us day after day for the paperwork that we excluded (copies of our ID's, a cancelled check and one page that we didn't check off the right box) we were so aggravated that we decided we weren't going to go through with the purchase. (We also decided that we would buy used instead and save 1000's). The last conversation that I had with them was them telling me that we are too late and we already own. However, we haven't paid them anything or arranged that part of the deal. Now they wont call me back. Do you think I am committed to the purchase legally yet if I haven't completed the package 100% and haven't paid anything? We are eager to buy now but want to pursue the "used" TS market. I am nervous to buy because I don't want to find out later that I own two and have to find a way to pay for them.
Thanks! Jennifer

There is always a recision clause in the contract. I believe Florida is 10 days from signing.

I'm NOT the expert here, so hopefully others with more knowledge will chime in.

It does sound like you have bought and are long past the right to cancel. The small things which you didn't sign probably do not matter. You own HGVC.

Good Luck

I wouldn't be so quick to say you own. I would contact them and see if it was ever processed. Under the patriot act they may not be able to complete the process/paperwork without your ID's. Also if they haven't cashed a check or accessed your account and you haven't heard from them, then I would lean toward the deal not being done yet. Futhermore, tho I am not an attorney, I would wonder if your 10 day right to resind has begun yet. I know as a wholesale mortgage rep, the lenders I have worked with could not complete the package without the id's and can't consider your right to cancel starting until the entire package is 100% complete. I would call them and ask. If not complete I would cancel and ask for it in writing..

Suggest you see a lawyer.

Attorney is a great idea.

If you haven't given them any money I would say you haven't bought. Money exchange is necessary for the contract I think (not a lawyer though).

Obviously I would not send them a cent now, otherwise you will be contractually obligated (going back to my business law class in undergrad here).

If you did give them a small deposit, then that may have contractually bound you to the deal and it sounds like you're outside the rescinding time period.

Spend a little by talking to a lawyer who hopefully can confirm what I mentioned up above.
Then spend less buying one resale.

The OP in another thread said they didn't buy a TS but signed to buy a TS trial membership which HGVC calls a VIP membership. She's bought one years worth of points. Since this isn't a deed based purchase, I would believe that the small things which she didn't provide probably don't void this trial membership.

For $1500 it probably isn't worth trying to get out of it.

PS HGVC will try and tell you that the money you spent on the trial membership means you're getting a great deal if you decide to buy a full HGVC unit. DO NOT BELIEVE THEM. Even with the discount you'll still pay way too much buying from direct from HGVC.

Bill4728 said:

The OP in another thread said they didn't buy a TS but signed to buy a TS trial membership which HGVC calls a VIP membership. She's bought one years worth of points. Since this isn't a deed based purchase, I would believe that the small things which she didn't provide probably don't void this trial membership.

For $1500 it probably isn't worth trying to get out of it.

PS HGVC will try and tell you that the money you spent on the trial membership means you're getting a great deal if you decide to buy a full HGVC unit. DO NOT BELIEVE THEM. Even with the discount you'll still pay way too much buying from direct from HGVC.

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Good info Bill,

Thanks for the heads up on the trial membership.