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Thread: Offers on resales

  1. #1

    Offers on resales

    How can buyers ensure sellers are actually shown an offer?

    Specifically curious about California law. Dealing in person with resellers on site of TS.

    We just made an offer, or thought we did. Then we were told the offer was rejected so we asked for a rejection letter or some other written document showing our offer had been rejected. But we weren't given that. Instead we were told that since they didn't run our credit card for the offer then it wasn't legally binding.

    Since we plan to keep making offers til we get what we want for the price we feel its worth, we wanted to make sure we don't have 20 open offers. Each one needs to close (now we'll write an offer expiration date into the paperwork if theres no place for it on the forms). But this experience leads me to believe our offer may not even have been presented to the seller!
    Last edited by VegasBella; 03-05-2013 at 04:56 PM.

  2. #2
    Senior Member
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    I don't know about any proof. I just made an offer on Redweek and Redweek is managing the listing. I put that my offer was good for 7 days. That is a lot longer than I normally would put down. 24-48 hours is more normal, but I lowballed and wanted to give them some time to realize that better offers probably won't come in.

  3. #3
    Super Moderator Glitter Brunello's Avatar
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    The ebay listings should be in the real estate section - the small print, somewhere, should say that the offers/acceptances aren't necessarily binding - Real Estate laws apply. At least that's how it used to be - take a look. Still, I think Presley's approach of limiting the time to keep it open is a good one.

  4. #4
    Silver Contributor and supermoderator GrayFal's Avatar
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    Quote Originally Posted by Glitter Brunello View Post
    The ebay listings should be in the real estate section - the small print, somewhere, should say that the offers/acceptances aren't necessarily binding - Real Estate laws apply. At least that's how it used to be - take a look. Still, I think Presley's approach of limiting the time to keep it open is a good one.
    OP made an offer at the TS onsite resale office.

  5. #5
    Yes, on site in person.

    We will make offers online too (eBay, red week, mytimesharenetwork, craigslist) but this one was in person with a reseller at the TS.

  6. #6
    Super Moderator Glitter Brunello's Avatar
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    Quote Originally Posted by GrayFal View Post
    OP made an offer at the TS onsite resale office.
    Oops, was rushing. My bad, sorry!

  7. #7

  8. #8
    Call the Real Estate Commission in California and ask the question. Law and regs vary by state.

  9. #9
    Industry Representative ConsumerProtectionLawyer's Avatar
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    I'm back from a brief trip out of the office, and it's nice to see a vibrant discussion with input from the community.

    Your instincts are right about not having 20 offers open*

    I like the comment by Presley to simply make an expiration date for your offer. Remember to retain a copy stating that the offer must be accepted on or before "X" date and time (PST, EST, etc.). The offer expiration can be handwritten right near a signature and initialed by everybody involved in the transaction. If it is real estate (and not just pure points) and the expiration is not on the offer form, that would be unusual and you may want your own lawyer to review the offer form used. This would not be me, but I can make some gratis referrals to several fine lawyers in California that you may consult with.

    Finally, I know you are concerned about having offers out there that have no written termination, so you may want to terminate (or withdraw) your prior offer in writing and retain copies of that offer termination with initials from the reseller agent.

    John Phillip Abrams
    Consumer Protection Attorney

    * This is not legal advisement, and to do so requires in depth factual and legal analysis under a client agreement

  10. #10
    Quote Originally Posted by ConsumerProtectionLawyer View Post
    I'm back from a brief trip out of the office, and it's nice to see a vibrant discussion with input from the community.

    Your instincts are right about not having 20 offers open*

    I like the comment by Presley to simply make an expiration date for your offer. Remember to retain a copy stating that the offer must be accepted on or before "X" date and time (PST, EST, etc.). The offer expiration can be handwritten right near a signature and initialed by everybody involved in the transaction. If it is real estate (and not just pure points) and the expiration is not on the offer form, that would be unusual and you may want your own lawyer to review the offer form used. This would not be me, but I can make some gratis referrals to several fine lawyers in California that you may consult with.

    Finally, I know you are concerned about having offers out there that have no written termination, so you may want to terminate (or withdraw) your prior offer in writing and retain copies of that offer termination with initials from the reseller agent.

    John Phillip Abrams
    Consumer Protection Attorney

    * This is not legal advisement, and to do so requires in depth factual and legal analysis under a client agreement
    Thank you.

    In the future, we will make sure to add an expiration date to the offer if there isn't a place for it in the form. And perhaps find a lawyer.

    We did terminate our offer in writing. But we did not get it initialed by the reseller agent. And we retained the original instead of a copy. Whoops?

    But I'm not really worried if the offer is accepted. In fact I'd be delighted if that offer was accepted. I just don't want all our offers to be accepted all at once.

    I do, however, want our offers to be considered by the sellers, not dismissed by agents who want to pressure me into a higher price and don't even present the offer to the sellers.

    I thought I was making a real offer but a side comment from the resales agent made me feel like it wasn't a real offer that was presented to the seller. What bothers me most is the way I feel manipulated/ lied to in regards to this process. Already I'm highly skeptical about the timeshare industry and this makes me worry.

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