Instuctions for buying resell without getting ripped off.

[Bill4728]

Does TUG have a clear thread or post which gives instuctions for buying resell without getting ripped off ?

If someone asked what would you say?

 

[Jya-Ning]

I don't believe in this world, there are too much thing that guaranteed. Death is the only one.

Either make sure they are deal with a structured closing company, or pray. Pray is more effective, and cost much less.

Even when you deal with a well organized closing company that follow all the requirements, and put all in escow, and make sure seller does has what they say, you may still get problem. And it is upto either the seller or the closing company to fix it.

Or knowing who the seller is, who the closing company is before you step in.

On the othe hand, if you buy retail, even pray will not working. Buying resell, at least you can reduce your chance of not lossing to min. And if you pay attention and god will, you will never get a problem.

Assume you mean bid on eBay not through a registered real esate broker,
This is one I gave on other forum

but will you be comfortable to trust a reference from semi-open internet site? Even if a very experienced member did purchase from them, how do you know if their life will not changed, and suddenly they disappeared?

You have several choices
1. don't bid.
2. ask them to use the closing company you choice, (pretty sure you will get rejected) otherwise you don't buy from them
3. check if the closing company are legal in their resident state, and who is the government body that monitor theclosing company.
4. pay by paypal associated with credit card, and work on top of it, verify the contact, try to speed the process. The best idea is to have the deed in hand within 2 month, and the transfer ownership form send to Wyndham. At least you should have a signed transfer deed from them that has the original seller's name. Anytime it is wrong, call credit card company dispute the whole transaction, and let them know, and if no result, cancel the whole process.
5. Bid assume they will run away, and bid on top of that assumption, most likely, they will not. Most of the people are trying to make their statement in eBay. 2 of my 6 eBay bid seller do disappeared (in a much later day). And I have saw very experienced member get burned but this usually happen like 1 out of 30 transactions.

Jya-Ning

 

[AwayWeGo]

Go With A Pro.

If someone asked what would you say?

Pay the going rate for a reputable timeshare closing services agency to handle the transaction, including collection of money from buyer & disbursement of funds to seller, in addition to preparation & recording of signed deed & taking care of resort ownership transfer notification.

-- Alan Cole, McLean (Fairfax County), Virginia, USA.​

 

[Dave M]

If someone asked what would you say?

Go to the Timeshare Purchaser's Checklist in the TUG Advice section.