Had a deal fall through today [Holly Kaye with California Timeshare Resales]

VegasBella · Aug 13, 2016

Had a deal fall through today and I'm a little bitter about it. I'm irritated.

First, the broker made mistakes in the listing that I caught and corrected. She also only listed it on her own tiny weird website that gets no traffic and on RedWeek, NOT on the website for the company she supposedly works for. I'm starting to wonder if maybe it was a scam, actually. Seems like a lot of work for a scam and I generally go with the notion that one should "Never attribute to malice that which can be adequately explained by stupidity" and that certainly seems to apply here.

I helped encourage them to rent this year's use to earn more money from the week. They were offering to include this year's use in the sale but it was so last minute (literally weeks away) that most people would have already had plans AND there's no way the transfer would have been able to occur in time so there would have been additional hassle and costs to allow the buyer to use 2016's week.

During conversations, she made mistakes about which week were were discussing - it almost seemed like she was trying to pull a switcheroo changing out valuable week 32 for off season week 37.
Then also she forgot to attach the sales agreement in her email asking me to sign.

The broker was taking $1000 fee ON TOP of escrow and transfer fees, adding up to a total of $2000 of fees. Given that she wasn't acting like a great broker IMO I don't think she deserved such an outrageous fee for a valuable timeshare sale.

So then today, on Saturday, I get an email saying she received our check and signed agreement but that the seller is accepting another offer. She claims she's voiding and returning our check. We are putting a stop payment on it just to be on the safe side.

I'm annoyed that she didn't tell me sooner. She never even mentioned another buyer as a possibility. We were negotiating price. You would think if you're a broker and you have a fiduciary responsibility to get your client the highest sales price that you would use that info as leverage to bump up the price, but nope.

Frustrated.

chapjim · Aug 13, 2016

VegasBella said:
Had a deal fall through today and I'm a little bitter about it. I'm irritated.

First, the broker made mistakes in the listing that I caught and corrected. She also only listed it on her own tiny weird website that gets no traffic and on RedWeek, NOT on the website for the company she supposedly works for. I'm starting to wonder if maybe it was a scam, actually. Seems like a lot of work for a scam and I generally go with the notion that one should "Never attribute to malice that which can be adequately explained by stupidity" and that certainly seems to apply here.

I helped encourage them to rent this year's use to earn more money from the week. They were offering to include this year's use in the sale but it was so last minute (literally weeks away) that most people would have already had plans AND there's no way the transfer would have been able to occur in time so there would have been additional hassle and costs to allow the buyer to use 2016's week.

During conversations, she made mistakes about which week were were discussing - it almost seemed like she was trying to pull a switcheroo changing out valuable week 32 for off season week 37.
Then also she forgot to attach the sales agreement in her email asking me to sign.

The broker was taking $1000 fee ON TOP of escrow and transfer fees, adding up to a total of $2000 of fees. Given that she wasn't acting like a great broker IMO I don't think she deserved such an outrageous fee for a valuable timeshare sale.

So then today, on Saturday, I get an email saying she received our check and signed agreement but that the seller is accepting another offer. She claims she's voiding and returning our check. We are putting a stop payment on it just to be on the safe side.

I'm annoyed that she didn't tell me sooner. She never even mentioned another buyer as a possibility. We were negotiating price. You would think if you're a broker and you have a fiduciary responsibility to get your client the highest sales price that you would use that info as leverage to bump up the price, but nope.

Frustrated.

I'd report her [whatever] to the local board of realtors.

BJRSanDiego · Aug 14, 2016

Was the broker's first initial "J" ? Just wondering.

VegasBella · Aug 14, 2016

BJRSanDiego said:
Was the broker's first initial "J" ? Just wondering.

No

It was Holly Kaye with California Timeshare Resales.

ronparise · Aug 14, 2016

I understand your frustration but the agent, from what you say here, has done nothing wrong

Bottom line, there is no agreement until there is an agreement and from what you say your signed purchase offer got in after they made an deal with someone else

Ive tried that game of playing one buyer against another to jack up the price and Ill tell you its a fools game. Tell two or three competing buyers that I have others interested and that they should bid higher. Most of the time buyers dont believe it. And if they do it pisses them off. And if Im a buyer, and an agent does that to me, I offer less the second time around.

The agents job is to get the thing sold, She is under no obligation to tell one buyer about others that might be interested, And yes her job is to get as much as possible for her client, but first and foremost her job is to get an offer in front of her seller. As soon as she has something in hand she should present it to her seller and not hold it, just in case something better comes along

By the way $1000 is a pretty reasonable commission, What difference does it make to you? the seller pays it

Padad · Aug 14, 2016

ronparise said:
Ive tried that game of playing one buyer against another to jack up the price and Ill tell you its a fools game. Tell two or three competing buyers that I have others interested and that they should bid higher. Most of the time buyers dont believe it. And if they do it pisses them off. And if Im a buyer, and an agent does that to me, I offer less the second time around.

As soon as m wife and I hear there's another buyer, we immediately pull out of the transaction.

VegasBella · Aug 14, 2016

ronparise said:
By the way $1000 is a pretty reasonable commission, What difference does it make to you? the seller pays it

As I explained, I don't think she deserved it

She listed the unit incorrectly. I had to explain where the unit was and what view it had. She didn't even post any pictures of the unit or the resort. Her description was vague and unappealing. In other words, the effort she put into it was minimal.

ronparise · Aug 14, 2016

VegasBella said:
As I explained, I don't think she deserved it

She listed the unit incorrectly. I had to explain where the unit was and what view it had. She didn't even post any pictures of the unit or the resort. Her description was vague and unappealing. In other words, the effort she put into it was minimal.

no one thinks a real estate agent is worth their commission.. and Im not saying we are...

all Im saying is that $1000 isnt out of line. and it doesnt matter what you think, what matters is what the seller thinks... from what you said this particular agent did earn their commission... They found a buyer...

VegasBella · Aug 14, 2016

We had a deal. An emailed offer that was accepted. It just wasn't signed and no money had been exchanged. I know enough about contract law to know that an accepted offer without compensation is not an enforceable contract, so yes I know that legally she's in the clear. But I can still be irritated, can't I? I can still be annoyed at how this was handled. I can still think, "I would rather not do business with that person again."

The ad is still up on Redweek btw. It doesn't say "sold" it says "I have several units with different weeks and levels. Please contact me." Seems like bait and switch to me. Like she's using it to try to sell the off season week.

Also, it's possible that deal could fall through, right? That's the whole point of escrow. So why wouldn't she say, "The seller has accepted another offer. But would you like to re-negotiate if that one falls through?" Whenever I've been outbid on a home that option has been given to me. The realtor says, "Well, someone else made a better offer and the seller accepted but we can submit your offer as a backup if that one falls through."

ronparise · Aug 14, 2016

VegasBella said:
We had a deal. An emailed offer that was accepted. It just wasn't signed and no money had been exchanged. I know enough about contract law to know that an accepted offer without compensation is not an enforceable contract, so yes I know that legally she's in the clear. But I can still be irritated, can't I? I can still be annoyed at how this was handled. I can still think, "I would rather not do business with that person again."

The ad is still up on Redweek btw. It doesn't say "sold" it says "I have several units with different weeks and levels. Please contact me." Seems like bait and switch to me. Like she's using it to try to sell the off season week.

Also, it's possible that deal could fall through, right? That's the whole point of escrow. So why wouldn't she say, "The seller has accepted another offer. But would you like to re-negotiate if that one falls through?" Whenever I've been outbid on a home that option has been given to me. The realtor says, "Well, someone else made a better offer and the seller accepted but we can submit your offer as a backup if that one falls through."

you are exactly right except for the part where you implied that the broker had violated their fiduciary responsibility to their client>>>

VegasBella · Aug 14, 2016

You can interpret my statements however you want. And you can defend outrageous commissions too. Go ahead. But know that I am not attacking your profession, I am not attacking you, and I am not attacking commissions in general.

I am saying I am displeased with how this transaction occurred. It is very frustrating to me that throughout the process she kept trying to sell me something else and then when we have a deal it mysteriously disappears.

And now, looking over the sales agreement again I notice she made another mistake! She listed the wrong resort management company in a section of the contract. The contract would still be valid; it's just another example of carelessness. She made numerous mistakes throughout the process.

presley · Aug 14, 2016

Sounds like one of the many brokers who churn and hope to have what they are selling when someone actually sells. You know you are better off not doing business with her.

taterhed · Aug 14, 2016

I agree ----^

Anyone who is this incompetent would have probably jinxed the sale further down the line. Better you scraped that deal off your shoe now.

Sorry--I'm sure it still stings.

ronparise · Aug 14, 2016

VegasBella said:
You can interpret my statements however you want. And you can defend outrageous commissions too. Go ahead. But know that I am not attacking your profession, I am not attacking you, and I am not attacking commissions in general.

I am saying I am displeased with how this transaction occurred. It is very frustrating to me that throughout the process she kept trying to sell me something else and then when we have a deal it mysteriously disappears.

And now, looking over the sales agreement again I notice she made another mistake! She listed the wrong resort management company in a section of the contract. The contract would still be valid; it's just another example of carelessness. She made numerous mistakes throughout the process.

Ok she made lots of mistakes. I'm not saying she didn't.

You should be happy the deal didn't happen. And that you learned to stay stay from this broker.

I'm not defending outrageous commissions. And I'm not defending bad agents either. What I'm saying is that you dodged a bullet. Move on, find another deal. Be happy

maybe I should have said." I'm sorry this happened to you, tough luck, thanks for letting us know about this bad actor charging outrageous commissions.

I know I'll stay away from her in the future"

rickandcindy23 · Aug 14, 2016

When I looked up California Timeshare Resales on Google, I came up with a picture of a trailer park in Escondido, CA, and not a nice one.

taterhed · Aug 14, 2016

:hysterical:

rickandcindy23 said:
When I looked up California Timeshare Resales on Google, I came up with a picture of a trailer park in Escondido, CA, and not a nice one.

OK, you owe me for dry-cleaning. I just blew coffee out of my nose onto the front of my shirt.

dang it!

ronparise · Aug 14, 2016

rickandcindy23 said:
When I looked up California Timeshare Resales on Google, I came up with a picture of a trailer park in Escondido, CA, and not a nice one.

Thats reason enough to stay away. Nothing worse than whites trash

I bought from an eBay seller once that operated out of his trailer home To get my deed I had to drive to Tenn and confront him personally.

I got what I paid for but several others didn't. And he ended up in jail

DaveNV · Aug 14, 2016

That brokerage name rang a bell. I checked my records, and found that yes indeed, they are the same outfit that strung me along on a purchase for months, were very slow to reply to my emails, kept promising things would close as planned, yada yada.

Then at the last minute, mysteriously (and rather suspiciously), they suddenly cancelled the deal, supposedly because "the seller owed back taxes on the unit." I said I'd pay the back taxes, but they said, "Uh, no. The unit is no longer for sale." No offer of finding me a replacement unit, not even an apology for stringing me along for so long. I was extremely angry they treated me like crap.

This is the one and only time I've had a purchase not complete as planned. Needless to say, I am not a fan of how this outfit does business. YMMV.

Dave

VegasBella · Aug 15, 2016

Well, she returned the check and it's been voided so that's good.

But the letter that accompanied the check had the wrong week number. So either she made a mistake when posting the Redweek ad and she doesn't have the week I wanted. Or she had/has both for sale and keeps getting the two weeks confused. Or worse - deliberate bait and switch. But I think the most likely situation is she is just very disorganized and not particularly bright and gets it all confused.

DaveNW said:
That brokerage name rang a bell. I checked my records, and found that yes indeed, they are the same outfit that strung me along on a purchase for months, were very slow to reply to my emails, kept promising things would close as planned, yada yada.

Then at the last minute, mysteriously (and rather suspiciously), they suddenly cancelled the deal, supposedly because "the seller owed back taxes on the unit." I said I'd pay the back taxes, but they said, "Uh, no. The unit is no longer for sale." No offer of finding me a replacement unit, not even an apology for stringing me along for so long. I was extremely angry they treated me like crap.

This is the one and only time I've had a purchase not complete as planned. Needless to say, I am not a fan of how this outfit does business. YMMV.

Dave

Ugh, doesn't sound good. Sounds like maybe the tax man seized it before the deal was done. Or they just never had it to sell to begin with.

As for trailer parks - I don't think that has anything to do with anything.

Saintsfanfl · Aug 15, 2016

A contract is still valid without the actual exchange of "compensation". There just has to a stated commitment of an exchange. It must state what each party is giving up. The problem in your situation is that a real estate contract must be in writing and signed by both parties. I'm guessing the one you had was only signed by you and therefore not fully executed.

You are bitter because you were getting a realy good deal and it fell through. I'm wondering if the deal you thought you were getting ever existed. Did you try researching the owner or the deed to see if it was what you thought?

Also some of these brokers lose out on deals because the seller goes elsewhere.

VegasBella · Aug 16, 2016

Saintsfanfl said:
A contract is still valid without the actual exchange of "compensation". There just has to a stated commitment of an exchange. It must state what each party is giving up. The problem in your situation is that a real estate contract must be in writing and signed by both parties. I'm guessing the one you had was only signed by you and therefore not fully executed.

You are bitter because you were getting a realy good deal and it fell through. I'm wondering if the deal you thought you were getting ever existed. Did you try researching the owner or the deed to see if it was what you thought?

Also some of these brokers lose out on deals because the seller goes elsewhere.

yes, only signed by us

yes I'm upset because it was a good deal, sure. If it had simply been the going rate I would not have been as upset since I would be able to buy another one easily.

That particular week happened to be my husband's birthday week, however, and he really loves that place - so it was kind of a birthday present. He's pretty bummed about it - more bummed than I am actually. I feel bad that I brought this disappointment to him.

I think you're right that it may never have existed. I have tried researching as much as I can and can't find more info but I'm going to be watching the county recorder over the next few months to see if there was a sale on that unit and how much it sold for.

Guitarmom · Aug 31, 2016

There are two principals at California Timeshare Resales, Holly Kaye and Brent Jex. We bought our resale through Brent, and it was a seamless and smooth transaction. I would recommend that if you want something that California Timeshare Resales has, try to deal with Brent.

Also, on their web site, www.calresorts.com, they give links to the Board of Realtors and the Better Business Bureau. You might think about making a complaint about Holly's mistakes to one or both of those.

Had a deal fall through today [Holly Kaye with California Timeshare Resales]

VegasBella

chapjim

TUG Review Crew: Veteran

BJRSanDiego

TUG Review Crew: Expert

VegasBella

ronparise

Padad

VegasBella

ronparise

VegasBella

ronparise

VegasBella

presley

TUG Review Crew: Expert

taterhed

ronparise

rickandcindy23

TUG Review Crew: Elite

taterhed

ronparise

DaveNV

TUG Review Crew: Expert

VegasBella

Saintsfanfl

VegasBella

Guitarmom