Transaction on E-bay

[norag]

Do you use the words "closing company" and "title company" interchangeably? (i.e. are they one and the same?)

He is suggesting that we utilize a company called 'Vacation Closings'. However, this still implies all funds be transferred to him to initiate the process...

I had been looking at the Vistana Villages TS, and as I went back to saved past bids, the SAME Week and Unit number was offered two weeks ago (i.e. the same item) by a different seller. This 'first' listing was said to have sold later on RedWeek.

The current seller, however, says he has bought it last year and has never used it.

 

[DavidnRobin]

Do you use the words "closing company" and "title company" interchangeably? (i.e. are they one and the same?)

He is suggesting that we utilize a company called 'Vacation Closings'. However, this still implies all funds be transferred to him to initiate the process...

I had been looking at the Vistana Villages TS, and as I went back to saved past bids, the SAME Week and Unit number was offered two weeks ago (i.e. the same item) by a different seller. This 'first' listing was said to have sold later on RedWeek.

The current seller, however, says he has bought it last year and has never used it.

Sorry - I am not in the biz - yes, a company that specializes in TS closings. There are plenty reputable ones - cost from $300-$500 in majority of cases. I did do a transaction without escrow (buying our WKV via SmartChoice), but I was 100% sure this was a risk free transaction - they did the title transfer.

In simple terms - You open escrow using a Title Co - you send them the fee to do this - you send $ for the sale to the Title Co. They send the info needed from their deed - another deed is created in your name. Everthing is signed - all conditions are met - deed is transferred.

There is absolutely NO REASON to send this person money. If he has ever closed a deeded property in life - this is what these companies do - they protect you from GETTING SCAMMED. They have NO RISK - what is it to them if you open escrow (using the Title company) and send funds there to be held in escrow??? That is what is done in cases like this (e.g. eBay sale) - this is what they are in the biz to do - that is the sensible thing to do when dealing with a stranger.

Send them this link - they can chime in to attempt to defend their case - that would be loads of fun. What a bozo...

 

[SDKath]

I would not let him keep the listing fee of $75. When you do a transaction on ebay, it states clearly that it is a NON-BINDING contract and that the winning bidder is just agreeing to enter into serious negotiations with the seller. You make no financial committment. That is different than most other eBay transactions where you are supposed to enter into a contract to pay. TS auctions are different. No matter what sort of threatening language the sellers use in their auctions, they cannot hold you to the win.

Refute the charge, including the $75 listing fee. They can relist for free.

Katherine

 

[DavidnRobin]

I would not let him keep the listing fee of $75. When you do a transaction on ebay, it states clearly that it is a NON-BINDING contract and that the winning bidder is just agreeing to enter into serious negotiations with the seller. You make no financial committment. That is different than most other eBay transactions where you are supposed to enter into a contract to pay. TS auctions are different. No matter what sort of threatening language the sellers use in their auctions, they cannot hold you to the win.

Refute the charge, including the $75 listing fee. They can relist for free.

Katherine

Exactly...
Also - when they bought and their usage is irrelevant. what is important is what you paid, what you bought. what you bought is confirmed by a Title Co that searches for leans, debts, etc. - and to make sure that are the rightful deeded owner.

if you get anymore BS - get out! plenty of TSs out there...

 

[norag]

The larger issue is now that we doubt the legitimacy of the item. I emailed the 'original seller' and he advises to 'proceed with caution'.

The title company he wishes to deal with is the same that was used by the 'original seller', and nothing moves ahead until money is transferred.

This makes no sense at all. And he's a power seller! For a first time e-bayer and TS buyer... can it get any worse?

(maybe there's some merit in buying from the developer... LOL)

 

[SDKath]

This is why an escrow service is key. They will do the title search and make sure it's legit and clean of any debt, etc. If you really want the property (and it sounds like you do), have them refund your money and then have them open up escrow someplace neutral (like First American on Redweek). All the seller needs to do is fill out an online form and then send the deed in. They will do the rest.

Katherine

 

[norag]

I e-mailed and asked for my 500.00 deposit back. That was last night and I have not heard anything back from him yet.....Valuable lesson learned...

 

[beachdiva]

I think you can file a claim with e-bay. They'll open up a case and investigate. I'd also follow the other posters suggestions and file a fraud claim with your credit card company. Hopefully between those two procedures you can recoup most of your deposit.

 

[DavidnRobin]

If I understand correctly - you sent them a deposit by paying with a VISA card using PayPal. I would dispute the charge with VISA and PayPal - and let the seller know that not having escrow held by a Title Company of your choice is unacceptable. Insist that they refund your deposit in total immediately.

Also - with regards to ebay feedback - there is a time-limit on eBay feedback - you could wait until right before the feedback time is up and leave negative feedback. If you decide to go this route - ask Tuggers on the Buying forum about the details in doing this.

 

[norag]

I have contacted ebay and filed a dispute. They quickly escalated it to a claim.
For a first time buyer this has certainly been (and continuing to be) very unpleasant.
ebay was very good on the phone and quickly gave me my options. The seller got back to me a said that I was right about the two adds being identical. He had bought the TS a couple of weeks ago and wanted to put my name on it instead of his. This was not what he had told me on the phone. He said he bought it last year and that he and his wife owned it. He is also still wanting the $75.00 but ebay told me he should not ask for this. e-bay also said not to have anymore contact with him! He also told me he owned a couple of homes in Florida and my 8000.00 will not make him rich.... yet he wants 75.00!!!
Wow! Please take CARE when bidding on ebay!!! I don't think I have the stomach to do it again...

 

[DeniseM]

I have purchased 4 weeks on ebay with no problems. However, before you even bid, you have to do your due diligence, including asking the seller all the pertinent questions and getting satisfactory answers in writing. That eliminates a host of problems. I hope you won't give up on ebay. It is the best source of TS bargains and if you do your homework before hand, it doesn't have to be nerve wracking.

BTW - on the Buying Selling Renting Board there is a sticky about how to buy a timeshare that lists the things that you need to do before buying. It is a bit excessive, but it's a good tool for a new buyer. Many problems are handled by simply using a licensed and reputable closing/title/escrow company whose job it is to find and correct any problems with your deed transfer.

Good luck!

 

[johnmfaeth]

Hi Norag,

Just sent you a private message.

John Faeth

 

[norag]

Just to keep you informed....
I have not got my money back yet, however I just got and email from ebay that the listing has been cancelled for violating ebay policy. I don't know what that means yet...but wanted to thank you all for your advice.
Nora

 

[DeniseM]

Hi Nora - did you see this post this morning: http://www.tugbbs.com/forums/showthread.php?t=67587

Is this the same seller?

 

[LisaRex]

Just to keep you informed....
I have not got my money back yet, however I just got and email from ebay that the listing has been cancelled for violating ebay policy. I don't know what that means yet...but wanted to thank you all for your advice.
Nora

I'm sure you intended to, but keep a copy of that email in case you need to dispute the charges with your cc company.

Good luck getting your money back!