Here's a strange Ebay for sale

Just saw this today- makes no sense to me to sell a RTU with just one year left and incur an $800 transfer fee, plus a $299 closing fee paid by seller

http://cgi.ebay.com/ws/eBayISAPI.dl...3591&_trksid=p3907.m32&_trkparms=tab=Watching

The good news is, the MF is ONLY $1793.00.

Steve

RTU

Sounds like an expensive one week vacation! Add maintenance fees as well!

Timeshare Closing Services, Inc

Timeshare Closing Services, Inc is very slow in closing. It will be close around Aug 2009!

Why wouldn't the current owner just rent out the final week of their RTU?

From the description:

Similar ownerships sell for over $15,000 when purchased directly from the developer. Purchase this exact ownership NOW at a fraction of the original price!


Wow, I wonder what one with 5-10 years left on it sells for.

Bill4728 said:

Why wouldn't the current owner just rent out the final week of their RTU?

Click to expand...

I emailed him asking exactly the same thing and he amended the auction, but it still talks about closing so I'm not sure if he understood

don

djs said:

From the description:

Similar ownerships sell for over $15,000 when purchased directly from the developer. Purchase this exact ownership NOW at a fraction of the original price!


Wow, I wonder what one with 5-10 years left on it sells for.

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It isn't too far in the future until people will be posting the same type of things about Disney Vacation Clubs.

They say that the seller pays all costs except for this years maintenance fees.

Bruce

brucecz said:

They say that the seller pays all costs except for this years maintenance fees.

Bruce

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That was taken into account when I made my initial comment. Why would anyone (including the seller) want to pay any closing costs?? Why close at all?

DonM said:

Just saw this today- makes no sense to me to sell a RTU with just one year left and incur an $800 transfer fee, plus a $299 closing fee paid by seller

http://cgi.ebay.com/ws/eBayISAPI.dl...3591&_trksid=p3907.m32&_trkparms=tab=Watching

Click to expand...

IMHO it was not clearly stated in your posting above that the seller was to pay going both fees.

You posted " with just one year left AND incur an $800 fee. The key words in your posting IMHO is AND INCUR AN $800 Transfer fee.

Bruce

The seller is not the same as the eBay member listing it - the eBay member is a broker. It is not in his best interest for this to end up as a rental, because then he doesn't get his fee/commission.

The "comparable" unit obviously isn't comparable - it is a RTU that ends in 2027, per the resort website. That sells for $16000 on their website, but again, has 19 years remaining, not just 1.

Obviously it would make more sense for the "seller" to simply rent the unit out, and not pay any fees. That does entail a small amount of risk, but why pay closing fees and transfer fees when they're not necessary?

It might be different if the current owner has an option to extend the RTU at a substantial savings over the current prices, but otherwise it just doesn't make sense.

brucecz said:

IMHO it was not clearly stated in your posting above that the seller was to pay going both fees.

You posted " with just one year left AND incur an $800 fee. The key words in your posting IMHO is AND INCUR AN $800 Transfer fee.

Bruce

Click to expand...

The original Ebay ad was that the buyer would pay the $800 transfer fee, and the seller would pay the $299 closing fee. Then the Ebay seller changed the ad so that the seller would pay both fees.

My original post stated (before the Ebayer changed the terms) "...Just saw this today- makes no sense to me to sell a RTU with just one year left and incur an $800 transfer fee, plus a $299 closing fee paid by seller".

To me it didn't matter who paid these fees (since I had no intention of buying the week). My point was it didn't matter who paid the fees- a RTU that's expiring in one year shouldn't be sold.

I think Mel hit the nail on the head. The seller is a broker and will make more on a sale than a rental, and he doesn't care who pays a fee as long as it's not him! The owner probably knows little about timesharing.