Won auction for MBP from Intervalmax - now what?

[thinze3]

I won an auction on eBay for a 2BR Marriott BeachPlace Towers platinum unit. The seller is Intervalmax. I have read many threads on Tug about Intervalmax and priced my eBay bid accordingly.

Now I need advice. Intervalmax handles their own closings and asks for money up front. If I pay with Paypal and use Amex or Visa, will I be covered if things fall apart - either through Paypal or the credit card company?

The closing fees are $450. Should I just bite the bullet and offer to pay their fee and for an outside closing as well. Again, the price I am buying for MBP more than justifies a little leg work.

Suggestions?

Terry

 

[dioxide45]

I won an auction on eBay for a 2BR Marriott BeachPlace Towers platinum unit. The seller is Intervalmax. I have read many threads on Tug about Intervalmax and priced my eBay bid accordingly.

Now I need advice. Intervalmax handles their own closings and asks for money up front. If I pay with Paypal and use Amex or Visa, will I be covered if things fall apart - either through Paypal or the credit card company?

The closing fees are $450. Should I just bite the bullet and offer to pay their fee and for an outside closing as well. Again, the price I am buying for MBP more than justifies a little leg work.

Suggestions?

Terry

If they will let you, I would offer to pay them the $425 (not $450) and then pay $275 to have JRA or some other company do the closing. JRA I beleive is located in the same county as MBP. They may not let you as I asked them on another week they were auctioning and they said the buyer doesn't have the option to use their own closing company. Though I wasn't offering to pay their fee too.

 

[gmarine]

Paypal offers some buyer protection though I dont know the details.

Using a credit card provides protection under the Fair Credit Billing Act but using an intermediary such as Paypal technically voids the protection. Many times the credit card companies will still intervene in disputes that have used Paypal but they are not required to.

 

[m61376]

I wish I had the answer but have actually wondered the same thing. If you do get the info. please post back so we'll know for future reference. Thanks- and congrats on a great buy! If I hadn't forgotten about it we might have been bidding against each other

 

[london]

Bite The Bullet

Intervalmax appears to have a good Ebay history. Pay the 450.00 and use the closing company that Intervalmax stipulates.

If you had reservations about the Ebay auction, you should not have bid on the timeshare.

 

[thinze3]

Intervalmax appears to have a good Ebay history. Pay the 450.00 and use the closing company that Intervalmax stipulates.

If you had reservations about the Ebay auction, you should not have bid on the timeshare.

Intervalmax does NOT use a closing company. They simply do the paerwork in house

Terry

 

[bogey21]

Personally I would pay via PayPal and let it all play out. Otherwise I wouldn't have bid. I've done this maybe 30 times with Ebay purchases and not only have never lost a dime, I've never had a sleepless night. Sure I've had issues in closing like insistance on a copy of my Partnership Agreement when Texas law provides a Partnership doesn't have to be in writing. Just be calm It will all work out

GEORGE

 

[Robert D]

I bought a Marriott Timber Lodge TS from IntervalMax on Ebay back in mid August. They don't use an outside closing company and do all of it themself and the closing fee is part of their profit. I paid with a credit card which gives you protection for 60 days from the date of the transaction, which is not enough with IntervalMax. My deed finally got recorded a couple days ago but it will take another month or two for it to get transferred on Marriott's system, and until that is done, you really have nothing. I think IntervalMax is legit and know they've sold a lot of TS's on Ebay under a couple different names. Based on my experience, they are very slow but they had a couple other problems with the deed on my TS. They don't communicate well or keep you informed but I think you should be ok. I'd pay on Paypal using a credit card (not direct debit), try to keep informed on what is going on, and then you can make a final decision 60 days out. They offered to refund my money on several occasions when I pushed them on why it was taking so long but I didn't want my money back, I wanted the TS I agreed to buy. IntervalMax does know what they're doing (unlike Wanted Weeks / Fletchmia) and a guy named Don runs their operation. You don't have a problem getting them to answer the phone but it is kind of scary not using an independent closing company. Good luck.

 

[thinze3]

Thanks. I believe that if you bought in mid-August and already have a recorded deed, you actually had a quick transaction all in all.

The few negative feedbacks that Intervalmax has all seem to be involving TS's about which they didn't actually know exactly what they were selling. Even in this auction they listed the unit as NO lock-off which is incorrect.

I called and spoke with Paypal and was told that I was NOT protected by them on this type of transaction. I also believe that any credit card prtoection would also be negated by the pass through using Paypal.

I did have a very quick (about 12 hours) response back from Intervalmax's principal, Gayle Congleton, on an email I sent over to them. That makes me feel better. I'll just use the Marriott card to make payment and keep my fingers crossed.


Terry

 

[dioxide45]

I paid with a credit card which gives you protection for 60 days from the date of the transaction, which is not enough with IntervalMax.

Actually I beleive the 60 days starts when the charge shows on your monthly statement. This may still not be enough time though.

 

[Robert D]

I think you are protected by your credit card company for 60 days regardless of whether you pay through Paypal or direct. I made a non TS purchase thru Ebay a couple years ago of something that I never received and the credit card company issued a refund when I disputed the charge. Also, per Chase, the 60 day meter begins on the transaction date, not when you receive the statement - I thought it was statement date too but I called them to double check when I bought the IntervalMax TS and was told it's from the date of the transaction.

I don't consider 80 days to get a TS deed transferred fast. I've had two of my purchases done within 30 days including resort notification and transfer. Marriotts will take a little longer because of the ROFR but they usually reply within 2 weeks. But there was a special issue with the Intervalmax one that took longer. Problem is it will probably take another 2 months for Marriott to transfer the week on their system - they really drag their feet on resales.

IntervalMax is not very helpful in getting the owner to make a reservation for you during the closing process like a lot of sellers will do.

 

[gmarine]

I think you are protected by your credit card company for 60 days regardless of whether you pay through Paypal or direct. I made a non TS purchase thru Ebay a couple years ago of something that I never received and the credit card company issued a refund when I disputed the charge. Also, per Chase, the 60 day meter begins on the transaction date, not when you receive the statement - I thought it was statement date too but I called them to double check when I bought the IntervalMax TS and was told it's from the date of the transaction.

I don't consider 80 days to get a TS deed transferred fast. I've had two of my purchases done within 30 days including resort notification and transfer. Marriotts will take a little longer because of the ROFR but they usually reply within 2 weeks. But there was a special issue with the Intervalmax one that took longer. Problem is it will probably take another 2 months for Marriott to transfer the week on their system - they really drag their feet on resales.

IntervalMax is not very helpful in getting the owner to make a reservation for you during the closing process like a lot of sellers will do.

Credit cards will sometimes intervene in disputes involving Paypal but they are not required to. Paypal has fullfilled their obligation as a merchant which was to transfer the money. For that reason the Fair Credit Billing Act doesnt apply.

If you choose to dispute a charge you must send a letter to the credit card company so it reaches the creditor within 60 days after the first bill containing the error was mailed to you. The 60 days does not start from the day of the transaction.

The details of the protection afforded by the Fair Credit Billing Act is here. http://www.ftc.gov/bcp/edu/pubs/consumer/credit/cre16.shtm

 

[Robert D]

On an Ebay auction, seems like the first bill you receive is the notice from Ebay or the seller that you won the auction. If so, wouldn't the 60 day meter start when you pay for it - i.e. the transaction date??

 

[myip]

My AMEX is pretty good. I can dispute even after 60 days from the statement. It is closed to 120 days.... The closing was so long... I dispute with credit card.... The merchant was pretty upset when paypal withhold money from his account.... I told the merchant, I am not releasing any money until the timeshare transfer is completed. It was completed pretty fast afterward... I then release the money in paypal and credit card.

 

[gmarine]

On an Ebay auction, seems like the first bill you receive is the notice from Ebay or the seller that you won the auction. If so, wouldn't the 60 day meter start when you pay for it - i.e. the transaction date??

From the Fair Credit Billing Act:

To take advantage of the law's consumer protections, you must:
write to the creditor at the address given for "billing inquiries," not the address for sending your payments, and include your name, address, account number and a description of the billing error.
send your letter so that it reaches the creditor within 60 days after the first bill containing the error was mailed to you.


Neither EBAY nor the seller is the creditor when using a credit card. The creditor is the issuer of the credit card.

 

[bogey21]

What I don't understand is why the first thing you all think about after winning an auction is how to get your money back, like all sellers are crooks. I have bought somewhere between 20 and 30 weeks on Ebay. Before I bid I make a decision based on a careful review of Seller's feedback. If I am ok with what I see, I bid. If I am then the successful bidder, I just follow the Seller's instructions. To date, nary a problem. Note I have never sold a Week on Ebay. Just a careful buyer.

George

 

[gmarine]

What I don't understand is why the first thing you all think about after winning an auction is how to get your money back, like all sellers are crooks. I have bought somewhere between 20 and 30 weeks on Ebay. Before I bid I make a decision based on a careful review of Seller's feedback. If I am ok with what I see, I bid. If I am then the successful bidder, I just follow the Seller's instructions. To date, nary a problem. Note I have never sold a Week on Ebay. Just a careful buyer.

George

Being carefull includes knowing your options if the seller doesnt follow through. This is especially true when spending several thousand on a Marriott or other high end timeshare.

 

[thinze3]

What I don't understand is why the first thing you all think about after winning an auction is how to get your money back, like all sellers are crooks. I have bought somewhere between 20 and 30 weeks on Ebay. Before I bid I make a decision based on a careful review of Seller's feedback. If I am ok with what I see, I bid. If I am then the successful bidder, I just follow the Seller's instructions. To date, nary a problem. Note I have never sold a Week on Ebay. Just a careful buyer.

George

I am the OP and nowhere in my original post did I ask "how to get my money bacK" . This is simply a matter of being careful and waying my options before sending $7600 to someone on eBay without any real protection for myself. Is that a bad thing!! I thought I made it clear that the risks in this transaction were worth the price I was willing to pay.

I do see that you own many TS weeks. Are these the ones you are referring to? What is the most you have paid for one of these weeks on eBay? Any expert suggestions?


Terry

 

[bogey21]

What is the most you have paid for one of these weeks on eBay?

Terry - You make a valid point. The amount of money at risk does, and should have, an impact on one's thinking. At one point I owned 4 Marriott Weeks with a total investment of almost $100,000. For reasons which some of you will agree and some will not, I sold them all, I might add at a profit. I have since gravitated to "location, location, location" $500 - $1,000 Weeks that I have purchased on Ebay, Stroman, Red Week, etc.

George

 

[thinze3]

I have left three phone messages and sent four emails to Intervalmax asking for someone to return my call. Has not happened yet. They did, however, send me an invoice via email asking for full payment.


Terry

 

[elaine]

has anyone bought a TS where escrow was NOT used for $7600?

OK, I did one without an escrow agent for $700---but for $7K+, has ANYONE EVER bought a TS where you did not use an escrow agent--other than from a friend, family, etc. I can't imagine sending a check for $7K for a TS and not having an escrow, esp. in this economy. Elaine

 

[thinze3]

Elaine, thanks for your comments.

I have had a couple of very good conversations with Don at Intervamax in the last two days. He very much understands the concerns of sending over this amount of money prior to closing, but assured me that they do this type of transaction everyday. Don was aware of Tug and said that he has read some of the postings about Intervalmax. He responded that Intervalmax does hundreds of good transactions for every one that goes bad, but nobody seems to write things on Tug BBS unless it's a negative experience. There is some truth to that statement IMO.

After letting me know that Intervalmax would be more than happy to let me walk away from the deal with no negative feelings or feedback if I didn't feel comfortable, I basically agreed that I would go through with the deal if he let me bypass PayPal and use a credit card to pay them directly. This would give me a bit more security in the transaction. I also insisted that he send me a contract and an estoppel from Marriott for review, which he promptly did.

This morning I called Don and gave him my Marriott Visa information to pay for the timeshare. He ran it through and promptly emailed me two receipts, one from Intervalmax and one from the transaction report.

As soon as they (Intervalmax) get the paperwork ready, Don will fax over the ROFR request to Marriott. Then we'll wait.


Terry

 

[Robert D]

Terry, I think you'll be ok. I'm buying a Timber Lodge platinum summer 1BR from them and they got the deed transferred and have sent the recorded deed to Marriott. I doubt that you'll get the deal done within 60 days that your credit card co. will protect you (mine is beyond the 60 day period) but I think Don knows what he's doing and as long as he's there, it should get done. They do sell a lot of TS's but most of them are very low cost ones. He told me they had done over 100 transactions with Marriott TS's. People don't bid very much on their Ebay auctions, maybe because of the fact there isn't a 3rd party closing company holding the money and the fact they don't have a good reputation on here. But IMO, they do know what they're doing, unlike some Ebay sellers. Good luck.

 

[dioxide45]

Terry, I think you'll be ok. I'm buying a Timber Lodge platinum summer 1BR from them and they got the deed transferred and have sent the recorded deed to Marriott. I doubt that you'll get the deal done within 60 days that your credit card co. will protect you (mine is beyond the 60 day period) but I think Don knows what he's doing and as long as he's there, it should get done. They do sell a lot of TS's but most of them are very low cost ones. He told me they had done over 100 transactions with Marriott TS's. People don't bid very much on their Ebay auctions, maybe because of the fact there isn't a 3rd party closing company holding the money and the fact they don't have a good reputation on here. But IMO, they do know what they're doing, unlike some Ebay sellers. Good luck.

The 60 day rule is very loose. We bought airline tickets from Skybus long before they went bankrupt, Chase refunded the charges well outside of the 60 days. Note that it is 60 days from the statement in which the error occured. It really isn't an error until the company doesn't deliver, so you may have recourse longer than 60 days.

 

[thinze3]

Update:
Intervalmax has been very pleasant to deal with thus far. They have responded to all me eamils quickly via return emails or even phone calls.

I have since learned a bit more about the company itself through these conversations as well. Basically, Intervalmax buys distressed (very distressed) properties and has individual buyers, and developers wanting to buy back inventory, waiting in the background.

Many of the units Intervalmax buy's never end up on any websites like eBay because they are virtually sold with a phone call or two. Example, Hyatt buys all of Intervalmax's properties back from them under an agreement. Marriott no longer buys back units from Intervalmax and hasn't taken a property via ROFR in a long time.

Anyhow, I will let you know about ROFR on BeachPlace soon enough I hope.


Terry