Undisclosed Assessment in eBay Purchase

[shalako2]

A couple of days ago I won an eBay auction from one of the postcard companies. I got a great deal, purchasing a timeshare worth $5,000 for about $1,000. After I won the auction, I learned from the resort that the Unit has a special assessment of about $500 that will be due in May.

I'm still getting a good deal, and I'm planning on going ahead with the purchase anyway. What bothers me is that I sent a message to the Seller asking if there were any special assessments "due or pending" and he wrote back that none were owed.

I left the Seller a message asking what he proposes to do about this and (not surprisingly) have not heard back. I'm sending in the paperwork tomorrow in any case if I have not heard back.

Would appreciate any advice from TUGers on this but I think the lesson learned here on any eBay purchase is "trust, but verify". I should have contacted the resort before the auction ended, not after.

 

[timeos2]

Would appreciate any advice from TUGers on this but I think the lesson learned here on any eBay purchase is "trust, but verify". I should have contacted the resort before the auction ended, not after.

Yes, you should have checked with the resort. If you still got a deal then enjoy it!

 

[Blondie]

His use of language is interesting. None "owed' which is technically correct. I guess if it is not owed on his watch he is not obligated to tell you that it will be?? Not really ethical but not a lie either. Yes, lesson learned. I wonder what his response will be.

 

[shalako2]

Actually, his direct quote was "there are no outstanding loans, and there are no special assessments due or pending". According to the resort, the Board voted in the assessment a couple of months ago, so I still don't think the Seller's statement was accurate.

In any case, though, I'm going to go ahead with the deal. Even if I'd known about the assessment, I would still have gone ahead with my bid. I've learned my lesson for future purchases, though.

 

[johnmfaeth]

If it has yet to be billed, the seller probably had no knowledge. With over 5,000 timeshares out there, it's tough to keep up with items approved by the board and not yet billed.

 

[sfsailors]

Actually, his direct quote was "there are no outstanding loans, and there are no special assessments due or pending". According to the resort, the Board voted in the assessment a couple of months ago, so I still don't think the Seller's statement was accurate.

In any case, though, I'm going to go ahead with the deal. Even if I'd known about the assessment, I would still have gone ahead with my bid. I've learned my lesson for future purchases, though.

Most postcard company don't know what they are selling. Thet got hundredd of TS every months, so they might not understand the situation better than us. They might get the TS they are selling to you a long time ago so they might really not knowing if a special assessment existed. The bottom line is you get a deal and hope that they would not cancel the deal. I had several deal on the queue and one of them get refunded because they said they make a mistake.

 

[shalako2]

I think you're right, and my gut tells me I was not intentionally misled here. But I do think that if a Seller is asked a direct question about an assessment, he has an obligation to check with the resort to confirm whether or not his response is accurate.

 

[wackymother]

I bought a timeshare from eBay. It was a Buy-It-Now and an excellent deal, so there wasn't time to call the resort before I hit the button.

After I had committed to buy, I called the resort and talked to them about special assessments and all of the due diligence stuff. The resort told me that there was a special assessment due on that unit. I e-mailed the seller and pointed out that their eBay listing had said something like "We guarantee clear title and these are the only fees due."

They said, "No problem, we'll pay the assessment." And they did. And it closed without any major hitches. And this was a particularly miserable seller that has gotten many, many richly deserved complaints on TUG. I was just lucky. Maybe you'll be lucky too!

 

[calgarygary]

If you purchased from a PCC, I suggest a small delay in returning your paperwork. The PCC has already made most of it's money and your $1000 is gravy. I suggest trying to get the information re. the assessment from the resort in an email and forwarding that email to your seller with a suggestion to split the assessment, a little less gravy may not be too painful to them.

 

[shalako2]

If you purchased from a PCC, I suggest a small delay in returning your paperwork. The PCC has already made most of it's money and your $1000 is gravy. I suggest trying to get the information re. the assessment from the resort in an email and forwarding that email to your seller with a suggestion to split the assessment, a little less gravy may not be too painful to them.

Calgarygary, I forwarded the assessment email from the resort and, although it took awhile, the PCC paid the assessment--in full. Thanks for your help!