Paypal protection

[Indy]

I have read that you should use Paypal to accept payment for the sale of a timeshare to protect you and the buyer. How does the use of Paypal protect either one of you?

 

[Carolinian]

I stopped using ''Paypal'' over a situation with another item, non-timeshare. Their refund procedure is a real hassle compared to that of a regular credit card company. Their ''protection'' is mostly blue smoke and mirrors.

 

[Indy]

What would you suggest instead of Paypal?

 

[Redterpos3]

I stopped using ''Paypal'' over a situation with another item, non-timeshare. Their refund procedure is a real hassle compared to that of a regular credit card company. Their ''protection'' is mostly blue smoke and mirrors.

I had a "non-timeshare" issue, as well, and was pleased with the result through PayPal. Mine was a cell phone that didn't work, and the seller was a heavy seller, who didn't respond, and we couldn't contact at all. I received all my money back, and I wasn't sure if I would.

Jeff

 

[camachinist]

Just received a refund processed through the Paypal dispute resolution process. Credit memo posted to my CC about three days after Paypal closed the dispute with the cooperation of the seller. Full refund of moneys paid. Item damaged in shipping. First time in nearly 10 years on eBay that I had that happen.

Pat

 

[CarolF]

I have read that you should use Paypal to accept payment for the sale of a timeshare to protect you and the buyer. How does the use of Paypal protect either one of you?

I'm not sure either but on our Australian ebay I noticed that there is AUD$1500 protection for buyers. (I guess this means if something goes wrong with items bought for less than $1500 there is some sort of rebate facility available). If that is the case then it would be good if the timeshare is less than AUD$1500.

 

[Carolinian]

I had two problems with Paypal

1) Their refund system is a lot more cumbersome to use than the system when you use a credit card directly. Paypal had more communications required and more deadlines one had to watch out for. For the money involved, the aggravation factor just wasn't worth it.

2) When you finally got through all of that hassle, the message said that maybe you would get your money back. ''Maybe'', after all that hassle? I did finally get my money, but the hassle factor means I now try to avoid crappy Paypal and deal with people who will take a credit card directly.

 

[bnoble]

Which is great, as a buyer. But the OP is asking as a seller.

For a timeshare sale, I would use an escrow agent. For a once-in-awhile rental business, I figure paypal is probably fine. If you are a serious renter, you probably want a merchant card account.

 

[Pit]

I stopped using ''Paypal'' over a situation with another item, non-timeshare. Their refund procedure is a real hassle compared to that of a regular credit card company. Their ''protection'' is mostly blue smoke and mirrors.

I concur. I've sworn off Paypal due to a t/s purchase gone wrong. The seller finally corrected the problem, but then I could never get Paypal to complete the transaction. I had to pay the seller directly with cash and could only get my money back from Paypal with a CC dispute.

It's enough to use a CC and make direct payment. If there are problems, dispute the CC charge. Having Paypal in the middle adds an unecessary layer of confusion. This was not beneficial to the seller or buyer.

 

[skinsfan]

If you are selling the timeshare you should use a closing company. The buyer usually pays closing costs anyway and most closing companies provide escrow services and handle all the paperwork for you. You can find many recommended closing companies on other threads here. I know I see timesharetransfer pop up a lot.

I have read that you should use Paypal to accept payment for the sale of a timeshare to protect you and the buyer. How does the use of Paypal protect either one of you?

 

[johnmfaeth]

Timeshare Transfer is a deed preparation and recording service only. They will not do escrow or the other functions a full service cloeing company will perform.

John

PS. They are good if all you need is a deed because you are selling to a friend.

 

[skinsfan]

There are others out there that provide escrow services

Timeshare Transfer is a deed preparation and recording service only. They will not do escrow or the other functions a full service cloeing company will perform.

John

PS. They are good if all you need is a deed because you are selling to a friend.

 

[bnoble]

John, they claim they do escrow. Am I mis-understanding this?

http://www.timesharetransfer.com/timesharetransfer/services.aspx

 

[califgal]

Is Paypal ok for selling points based timeshare?

When selling a points only timeshare, like Worldmark, you don't own a deeded week, you have points only. Do you really need to go through an escrow company? I've thought about selling on Craigslist and having the buyer pay via Paypal and send in the transfer paper to Worldmark. I've now read that there's lots of scams with money orders and cashiers checks, so it looks like Paypal would be best for buyer and seller...any suggestions?

 

[Steamboat Bill]

I have never had a problem with Paypal and I feel this is the best option for everyone.....buyer, seller, renter, rentor.

 

[theo]

One critically important fact to always remember about PayPal, particularly if YOU are the one parting with money, is that PayPal affords absolutely no protection whatsoever to the "payer" in regard to "non-tangible" items. In timeshare matters, "non-tangible items" very clearly and very specifically includes rentals. In such rental matters, the only one protected is the recipient of the funds, who is guaranteed to be paid.
The only guarantee for the sender of those funds is that the money is indeed GONE.

 

[theo]

Timeshare Transfer is a deed preparation and recording service only. They will not do escrow or the other functions a full service cloeing company will perform.

John

PS. They are good if all you need is a deed because you are selling to a friend.

Hi John;
With all due respect, you are quite mistaken. Timeshare Transfer (Vero Beach, FL) does indeed routinely do escrow and they are indeed a full service closing company. I have used them in numerous transactions as both buyer and seller, start to finish, including escrow services in each instance. Perhaps you have confused their name with that of some other entity offering less than full service?

 

[myip]

I have read that you should use Paypal to accept payment for the sale of a timeshare to protect you and the buyer. How does the use of Paypal protect either one of you?

It doesn't protect seller. If the buyer change their mind after payment, paypal just refund the money and close the case. There is no protection to the seller.

 

[OutAndAbout]

It doesn't protect seller. If the buyer change their mind after payment, paypal just refund the money and close the case. There is no protection to the seller.

Isn't that that only if you have a balance with PayPal? I understand (as of yesterday) that if the seller has a PayPal balance of zero then the buyer is SOL.

 

[myip]

Isn't that that only if you have a balance with PayPal? I understand (as of yesterday) that if the seller has a PayPal balance of zero then the buyer is SOL.

I get a negative balance. What is SOL?

 

[camachinist]

[profanity filter] out of luck.....

Most Paypal accounts these days, and all PP accounts which accept credit cards AFAIK, are tied to real bank accounts, and Paypal can and will issue memos on those accounts. Best to not only sweep your Paypal account daily, but to sweep the bank account to cash (not to another account) as well. Once you break the electronic link, things get much harder.

There are fraudulent buyers out there, just like sellers

Pat

 

[Pit]

It doesn't protect seller. If the buyer change their mind after payment, paypal just refund the money and close the case. There is no protection to the seller.

Very true, and they will tap into your bank accout too (if you're account is linked).

The title of this thread is an oxymoron.

 

[myip]

The worst case is that they didn't notify you until the balance is negative and they charge me another $10 for refund to the buyer in the process
I am out of money and also $10.00

 

[Black Diamond]

Insured up to $1000 only by PayPal.

If you used a credit card-start a disputed payment claim ASAP from Visa or Mastercard under the idea that you did not receive the item that you paid for.

The card company will charge back the money to PayPal and PayPal will then have to go after the receiver of the money. PayPal does not like to have credit card companies take back the payment and leave PayPal hanging for the money.


That method has always worked for me on small eBay charges that I have disputed, PayPal and eBay then sends me a email about using their dispute resolution service, which they charge $20 to attempt to resolve but no assuranace that they will get the money.

The Charge back by the credit card company is 100 % assured to get your money back!!!

 

[CarolF]

Insured up to $1000 only by PayPal.

If you used a credit card-start a disputed payment claim ASAP from Visa or Mastercard under the idea that you did not receive the item that you paid for.

The Charge back by the credit card company is 100 % assured to get your money back!!!

Does Visa or Mastercard have a limit to the amount that they will refund?