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Re: Disclosures and honesty in selling!(even resales) (by Jay K.):

stanleyf5 wrote:

ken1193 wrote:

phill12 stated, quoted only in pertinent part: >> In some e-bay and other sites that offer timeshare sales I found kind of hidden in rest of the information that some of these people now charge the buyer a fee incase the deal falls through because of ROFR. <<

Actually, if you read the (usually very tiny micro-font) print at the very end of many eBay ads for timeshares, eBay sellers often indicate that they will charge (or attempt to charge) a "cancellation fee" if the sale falls through for ANY reason. Whether or not they can lawfully enforce such a "cancellation fee policy" is certainly open to debate in the first place, but in any case is NOT limited merely to exercising right of first refusal.

Hi. I am a former real estate agent. In general, real estate terms governing a sale must be in writing and signed by all parties to the transaction to be enforceable. Legally they would have a difficult time collecting the cancelling fee relative to the timeshare bid, since there was no binding contract. It is basically a scare tactic to extract money from the buyer who has suffered "buyer's remorse" or was perhaps not serious to start with. Most states have a recission period relative to a real estate contract, where you can cancel without any penalty and the buyer's money must be returned. Stan.

What you have said is correct. The problem is that there are a lot of Sellers on eBay that do not follow the recission law because they don't know or don't care that there is one. There paperwork does not reflect the recission fee. When the bidders bid up the property and don't close the cost to us is usually around $150.00. We try to make them pay for the ad because eBay does not give us a credit if it is a bad bidder. They give us a few dollars and that is it.