Post reply

Re: Disclosures and honesty in selling!(even resales) (by stanleyf5):

cynthia281 wrote:

stanleyf5 wrote:

cynthia281 wrote:

timesharejudi wrote:

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.

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.

This is a flaw in the eBay system, in that the seller must pay over and over again to list a timeshare week, even if someone bid and refused to pay. They should allow a second free listing, but they just don't. Right of rescission is something eBay sellers want to forget, it is purposeful that they insist that there is no right with a resale. One person I know just rescinded a purchase and was chastized by an eBay seller to me. I told him I knew the woman who backed out and she was within her right to do so. The reseller had advertised the maintenance fees much lower than they actually were, quoting fees from two years ago. That is good reason to back out, if you ask me.

Hi. I have personally tried to buy a resale where the seller misrepresented the maintenance and other fees. This was not on ebay but here on Redweek. I received my deposit back, but I had about $125.00 of out of pocket costs which I incurred. I did complain to Redweek and they made the seller change their ad. Unfortunately, there are a number of unethical people in the world. Stan.

Do you happen to be the Stan from Fairfield Yahoo Group?

No. Stan.