Mountain Valley Lodge - Winning Bid $1?

[tahoeJoe]

My wife was playing on e-bay a few weeks ago and placed an opening bid on a Marriott Mountain Valley Lodge for $1. I was surprised to learn she won the bidding. The question is, do we complete the transaction or do I send the seller a $1 and let them keep it? Here are the details:

Resort - - Marriott's Mountain Valley Lodge, Breckenridge CO
Size - - Studio (sleeps 4)
Season: - Silver (weeks 15, 20-23, 39-43, 46-47)
Useage: - Annual
MF - - $798

If we do buy it we would use it to trade (hopefully into a 1 bedroom). My other thought is to buy it and donate it to charity and take a tax write off. My understanding is, if the claimed value is less than $5000 no apprasisal is necessary. What should we do (besides stop playing on E-bay)?

-TJ

 

[Robert D]

I wouldn't buy it for any price. My guess is you can rent this one on an II getaway week during this shoulder season for a lot less than the M&T's. I think TS's in highly seasonal ski resorts like this are worthless in the shoulder seasons, marginal in the summer, and very valuable in the ski season. I would only buy a ski season week here. To me the M&T's are way too high for a studio to make it a good trader. I think of a good trader as one that has low M&T's and has good trading value. Not sure this one would have good trading value since it's an off season studio.

 

[gmarine]

I agree. Regarding the tax write off, I believe since you are buying for $1, the deductable market value is $1. I'm sure Dave M could confirm or deny but if every $1 timeshare could be bought and then donated for a larger tax write off dont you think that the cheap timeshares would sell for more?

 

[dioxide45]

Back out if you can. If you send the $1 then you have agreed to have it trasferred to your name. They want rid of the TS not your $1. The auction is non binding. The seller may be mad, but that is their problem.

 

[cp73]

The auction is non binding. The seller may be mad, but that is their problem.

Why is the auction non-binding. I would think technically the seller could force you into taking it or sue you for damages and win....Obviously not worth the sellers time but technically correct?

 

[vacationtime1]

At common law, contracts for the sale of real estate must be evidenced by a writing. Electronic auctions don't qualify (at least yet). EBay avoids sticking its neck into this legal quandary by the advance disclosure that its real estate auctions are not binding.

 

[dioxide45]

Why is the auction non-binding. I would think technically the seller could force you into taking it or sue you for damages and win....Obviously not worth the sellers time but technically correct?

As much as the PCC companies on E-Bay will lead people to beleive in their adds. All real estate auctions on E-Bay are not binding.