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Timeshare Recyclers- BEWARE

Seaport104

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In case you are buying a Marriott or any resort with ROFR, beware if the bait and switch method they use.

I had a signed contract to purchase a Legend's Edge platinum unit and paid the requested deposit. They suggested a $500 deposit be paid via credit card but with a 35 credit card fee to start the process. I specifically asked if ROFR is exercised if I will get the full $535 back and they said yes.

Less than 3 days from signing of the contract and payment of deposit, I get a call letting me know that Marriott has a buy back offer on the unit and if I was willing to increase my price to match Marriott's. THIS IS AFTER WE HAVE A SIGNED CONTRACT AND MY DEPOSIT WAS PAID.

Now they are asking me for my bank details so they can wire my refund of $500 and they have refused to refund me the $35 fee- Remember that they are the ones that breached the contract.

Couple of things- w

- Why do they need my bank info to give me the refund when they can just reverse the initial credit card charge?

- They are refusing to refund me the $35 fee back. This is ridiculous since now I am out of pocket $35 for a contract they breached. The agent indicated it is not refundable since Marriott exercised ROFR, which in it self is a LIE. $35 isn't a lot of money, I am just pissed based on principle.

Any suggestions on what I should do next?
 

presley

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Set up a dispute with your credit card.
 

SueDonJ

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In case you are buying a Marriott or any resort with ROFR, beware if the bait and switch method they use.

I had a signed contract to purchase a Legend's Edge platinum unit and paid the requested deposit. They suggested a $500 deposit be paid via credit card but with a 35 credit card fee to start the process. I specifically asked if ROFR is exercised if I will get the full $535 back and they said yes.

Less than 3 days from signing of the contract and payment of deposit, I get a call letting me know that Marriott has a buy back offer on the unit and if I was willing to increase my price to match Marriott's. THIS IS AFTER WE HAVE A SIGNED CONTRACT AND MY DEPOSIT WAS PAID.

Now they are asking me for my bank details so they can wire my refund of $500 and they have refused to refund me the $35 fee- Remember that they are the ones that breached the contract.

Couple of things- w

- Why do they need my bank info to give me the refund when they can just reverse the initial credit card charge?

- They are refusing to refund me the $35 fee back. This is ridiculous since now I am out of pocket $35 for a contract they breached. The agent indicated it is not refundable since Marriott exercised ROFR, which in it self is a LIE. $35 isn't a lot of money, I am just pissed based on principle.

Any suggestions on what I should do next?
{Nevermind, I'm confused.}
 
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davidvel

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They don't have an exercised ROFR from Marriott.
 

Seaport104

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This is my read. If ROFR has been exercised, there is no rebidding. Scam.
There was never a ROFR submitted or received. They basically called me a few days later to let me know Marriott has a BUY BACK offer on the unit and if I wanted to up my price to equal that. I said no thanks, sell it back to Marriott.

What pisses me off is they should have sold it back to begin with and not waste my time. To add insult to injury, they want my bank details for the refund my deposit but they are not refunding the $35 fee.

Just want to alert fellow tuggers to as you rightfully pointed out - this SCAM

Happy Holidays to Everyone!
 

SueDonJ

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This is my read. If ROFR has been exercised, there is no rebidding. Scam.
That was my point originally which I deleted because I misunderstood that the Seller went back to the Buyer asking if he'd match a buyback offer, not an exercised ROFR. If I wanted to make their life difficult I'd ask to see the buyback offer email.

Other than that, if the $35 processing fee was paid with a credit card then I agree with the OP that both it and the $500 payment should be reversed; there shouldn't be any need for a wire transfer. Seaport104, are you within the time limits to dispute both charges on the card?

This company has a notice on their website that "justifies" their upfront fees. I'll never understand why folks buy from such companies. It effectively validates their business practices no matter if you're on the buying or selling side, doesn't it?

{ETA} I'm dropping this here for any interested Marriott owners: MVW is actively buying back/brokering select Weeks and in some cases their offers are higher than what's available from any external resale markets. There's no guarantee that any certain Week will be bought back or that any certain price will be offered for a Week but it's worth taking the little bit of time to ask if you're interested in selling. See the "Sell Weeks" page at Resales Operations here.
 
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Seaport104

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That was my point originally which I deleted because I misunderstood that the Seller went back to the Buyer asking if he'd match a buyback offer, not an exercised ROFR. If I wanted to make their life difficult I'd ask to see the buyback offer email.

Other than that, if the $35 processing fee was paid with a credit card then I agree with the OP that both it and the $500 payment should be reversed; there shouldn't be any need for a wire transfer. Seaport104, are you within the time limits to dispute both charges on the card?

This company has a notice on their website that "justifies" their upfront fees. I'll never understand why folks buy from such companies. It effectively validates their business practices no matter if you're on the buying or selling side, doesn't it?
Yes, I am within the time limits to dispute the credit card charge. The statement hasn't closed yet. I think I need to wait until I get my statement with the charge to dispute.
 

presley

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Yes, I am within the time limits to dispute the credit card charge. The statement hasn't closed yet. I think I need to wait until I get my statement with the charge to dispute.
You don't need to wait if you log in and it shows that the charge went through. As long as the charge is not pending and shows as a charge, you can start the dispute.

If you are mad enough, you can also file dispute with BBB. That won't help you in any way since you will get your money back from the credit card, but it may help let off some steam.
 

Seaport104

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You don't need to wait if you log in and it shows that the charge went through. As long as the charge is not pending and shows as a charge, you can start the dispute.

If you are mad enough, you can also file dispute with BBB. That won't help you in any way since you will get your money back from the credit card, but it may help let off some steam.
I didn't know that, thanks!
 

tschwa2

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By any chance did you have the refund of the $35 as part of the contract or at least documented through email with the company or was it just a phone conversation?
 

glmyers

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Yes, I am within the time limits to dispute the credit card charge. The statement hasn't closed yet. I think I need to wait until I get my statement with the charge to dispute.
It varies a bit from company to company, but most credit card dispute forms require you to outline the steps you took to have the party issue a credit back to your account or otherwise resolve the dispute. A dispute of the charge is the best way to ensure you get your money back, but be prepared to backup your claim by documenting your communication with the other person.
 

icydog

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It happened to me

I sold a Disney's Boardwalk Villas Resort years ago. Disney excercised their ROFR but they gave me a chance to ask the buyer for $2 more per point. I did that. I felt awful doing it but it was the only way the buyer was going to get that contract. She paid the $2 more per point and the contract was finalized at that price. I think it may have been because I handled the sale and closing by myself and did not involve a broker. They may have thought it was a family member or something.

My point being that sometimes, yes rarely, there may be an alternate offer from the developer. I would ask to see the ROFR letter or simply call Marriott and ask them yourself.
 

dioxide45

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They probably need your credit card information to process the credit because they don't retain your credit card information like the big merchants. They may just have a small merchant terminal or even using something like Square to process credit card transactions. They can't process a refund by just reversing the original transaction. It doesn't work that way.

I agree with others that the best way to deal with it will be to file a dispute with your credit card company.

The $35 never should have been promised to be refundable. That is lost dollars to them. Even if they process the refund, they are out the merchant fees to process the original transaction.
 

richardm

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This is not correct....

They probably need your credit card information to process the credit because they don't retain your credit card information like the big merchants. They may just have a small merchant terminal or even using something like Square to process credit card transactions. They can't process a refund by just reversing the original transaction. It doesn't work that way.

I agree with others that the best way to deal with it will be to file a dispute with your credit card company.

The $35 never should have been promised to be refundable. That is lost dollars to them. Even if they process the refund, they are out the merchant fees to process the original transaction.
This is not accurate..

If this charge is still within the 60 day window for a dispute to be filed, the company that took the charge can simply reverse it. The only time that cannot be done is if the timeframe exceeds that window.

The business does not have to "retain" the credit card information. When the charge was originally processed, there will have been a receipt and transaction number that was generated that will be used to reverse the charge. Whether that was on paper or via a virtual receipt, the business will have that information attached to the file.

Finally, for services such as square the merchant fees are refunded when the charge is reversed, so the business does not lose any money.

Credit card processing has advanced tremendously.. Merchant accounts offer great flexibility in most cases as long as the charge is relatively recent.
 

TUGBrian

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agreed, its a no brainer to refund even part of a credit card transaction as long as its within the last 60 days.
 

Seaport104

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This is not accurate..

If this charge is still within the 60 day window for a dispute to be filed, the company that took the charge can simply reverse it. The only time that cannot be done is if the timeframe exceeds that window.

The business does not have to "retain" the credit card information. When the charge was originally processed, there will have been a receipt and transaction number that was generated that will be used to reverse the charge. Whether that was on paper or via a virtual receipt, the business will have that information attached to the file.

Finally, for services such as square the merchant fees are refunded when the charge is reversed, so the business does not lose any money.

Credit card processing has advanced tremendously.. Merchant accounts offer great flexibility in most cases as long as the charge is relatively recent.
Thanks, that is what I thought as well. Otherwise, lots of businesses (especially department stores) would lose $$.
 
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