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43namal

R

Robert D

TUG Review Crew
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This seller is part of VIN which has had a good reputation in the past. I noticed they have a ski week for sale on Ebay where they say you get use of the 2009 usage and want you to pay them for the 2009 M&T's. I guess they don't realize that the 2009 ski season is over?? Also, they are showing closing costs of $25 resort transfer fee (which is an accurate number) + $399 closing costs + $300 resort transfer fee! I've asked the seller about this stuff and gotten no replies. Fact is that this same week has sold on Ebay for quite a bit less than the total of the phantom M&T's plus the phantom $300 resort transfer fee. Looks like one of the better Ebay resellers has taken a turn for the worse if they're resorting to these kind of tactics.
 
In the past, Mike has been the one to respond to the Ebay questions so thought I would have heard from him. Will try the other email address.
 
VIN sells in rounds. Round one is winning bid plus crazy closing costs. If no one bids, round 2 is winning bid plus discounted closing costs. If no one takes the bait still, round 3 (this is a little new) is winning bid plus maybe a small resort transfer fee (like $100). And finally, round 4 is winning bid plus no closing costs at all.

Sometimes I see requests for 2009 maint fees, sometimes not. The question is what will the market bear? Take a look at past auctions for the resort or similar weeks, then determine if you're willing to wait for the right price and what it is. I once emailed them about an over-priced unit and offered them them a price in line with past sales. They just wanted to let the auction run as-is. They got a bidder! I just waited patiently for something else to come around and bought it last week. :)
 
What you're describing sounds like what they're doing on this one. Most people don't read the fine print closely enough to catch that they'll have to pay the maintenance fee for a year that has already passed. As far as I'm concerned that's unethical. Guess I just gave these guys more credit than they deserved and I now see why they haven't responded to my questions.
 
I asked the same question about the MF's and have yet to receive an answer. I really don't like the idea of paying $600 for MF's for usage I won't be getting.

The $300 the seller referred to as a resort transfer fee I think is actually the first half of the 2009's MF that were paid that they want reimbursement on (which they shouldn't get since usage isn't until 2010).
 
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why their company??

I have also been asking questions on some of the listings, but mainly wanted to know if one HAS to go with their closing company. I don't want to go with timeshare closing services.

Can one haggle with these sellers on Ebay? I already fell prey in the past and won't do that again.

I don't think I'll get a response since I asked a lot of questions and asked to see contract to verify stuff with resort, but I thought all this is public record?
 
tgrafix said:
I have also been asking questions on some of the listings, but mainly wanted to know if one HAS to go with their closing company. I don't want to go with timeshare closing services.

Can one haggle with these sellers on Ebay? I already fell prey in the past and won't do that again.

I don't think I'll get a response since I asked a lot of questions and asked to see contract to verify stuff with resort, but I thought all this is public record?
Click to expand...

You can haggle - though I have not had any luck. But always, always ask to see a copy of the estoppel letter before moving forward. And go through it thoroughly. Have I had two deals go south due to a disconnect between the ad and the estoppel.
 
sernow said:
I asked the same question about the MF's and have yet to receive an answer. I really don't like the idea of paying $600 for MF's for usage I won't be getting.

The $300 the seller referred to as a resort transfer fee I think is actually the first half of the 2009's MF that were paid that they want reimbursement on (which they shouldn't get since usage isn't until 2010).
Click to expand...

It's always better to have answers to your questions before you bid, but if you have read the add carefully and it's clear that a charge is out of place, I wouldn't hesitate to bid assuming that this will become a non issue. It's been my experience that VIN, Inc. will quickly correct such things in the contract phase such as charges for usage that you are not receiving or a listed resort transfer fee that doesn't actually exist. They put a lot of thought and effort into the quality and accuracy of their listings but occasionally you run across an error.
 
There is a 2009 ski season. Ski season actually begins in Nov/Dec (depending on where). Typically, most people don't go skiing until after Christmas, however, but the season does start late in the year. :)
 
Not yet it ain't...

Robert D said:
I guess they don't realize that the 2009 ski season is over??
Click to expand...

I didn't even look at the listing at issue, but here in New England, Killington (Vermont) always opens by Thanksgiving (i.e., in late November). Numerous other ski areas in Maine (e.g., Sunday River) and a whole bunch In New Hampshire are open by December.

In short, there will still be 5 or more weeks of skiing in 2009..:shrug:
 
Maybe, maybe not...

tgrafix said:
I have also been asking questions on some of the listings, but mainly wanted to know if one HAS to go with their closing company. I don't want to go with timeshare closing services.

Can one haggle with these sellers on Ebay? I already fell prey in the past and won't do that again.

I don't think I'll get a response since I asked a lot of questions and asked to see contract to verify stuff with resort, but I thought all this is public record?
Click to expand...

Many eBay mega sellers have an "arrangement", contractual or otherwise, with one particular closing company and often will not entertain using an alternative closing company --- although it can't hurt to at least ask. The "arrangement" can sometimes be that the seller is actually conducting the closing "in house" but merely under a different name, thereby making some extra money on that separate part of the transaction. Or, the "arrangement" can be a "referral agreement" for a reduced rate on the closing services (...and/or an actual monetary kickback).

I guess it depends upon how much you want to complete the particular transaction involved before deciding whether to walk away based solely upon the mandated closing entity; a personal decision... :shrug:
 
loreenj said:
What's an estoppel letter?
Click to expand...

An estoppel letter is something in writing generated by the HOA or management company certifying the type of unit, the status of maintenance fees (i.e. that they have been paid through whatever date), and whether there are any unpaid assessments.

A purchaser ALWAYS wants to get one as part of the escrow process; otherwise, the purchaser is buying into overdue fees and/or not getting the unit contracted for (i.e. one bedroom vs. two bedroom, etc.).

Estoppel letters are absolutely routine.
 
Mike did get back with me and confirmed that the usage starts in 2010. The fact that there are a few ski weeks in December doesn't change the fact that it is the 2010 ski season which runs from mid December to the first part of April. He also said the extra resort transfer fee was meant to be half of maintenance fee and that it would not apply. Bottom line is that they fixed it which is what I was hoping would happen.
 
:clap: Good to hear!
 
I must respectfully disagree. Check this listing on Ebay item number 260404971823 for a one bedroom timeshare in St. George, Utah surrounded by grand National Parks and red rock canyons.

The unit is at Coronado Vacation Village in St. George. This is a remodeled Motel 6 in the middle of town.

THE ONLY PROBLEM IS: IT WAS TORN DOWN YEARS AGO AFTER BEING SOLD BY MROP.

Even if this was an oversight how can you trust a closing company that can't even determine if the property exists. And again if what they are selling is an MROP week with St. George priority again how can you trust a company that is supposed to check and close a real estate deal who can't even get a current address on the property.

:shrug:

AS ALWAYS DO YOUR DUE DILIGENCE AND BUYER BEWARE
 
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bmann said:
The unit is at Coronado Vacation Village in St. George. This is a remodeled Motel 6 in the middle of town.

THE ONLY PROBLEM IS: IT WAS TORN DOWN YEARS AGO AFTER BEING SOLD BY MROP.
Click to expand...

RCI thinks it still exists:

Coronada Vacation Village (#4046)

559 E. St. George Blvd.
St. George, UT 84770
USA
www.ore-inc.com
435/628-4436
 
Is this the RCI that doesn't admit it rents weeks?

falmouth3 said:
RCI thinks it still exists:

Coronada Vacation Village (#4046)

559 E. St. George Blvd.
St. George, UT 84770
USA
www.ore-inc.com
435/628-4436
Click to expand...

The Owners Resort Exchange was purchased by Vacation Resorts International about three years ago. That shows you how current their Resort Directory is. Go to www.vriresorts.com for the current listing and look up Coranado Vacation Village in St. George, Utah and see if you can find the resort on the current management list. It doesn't exists!!!

When the sale of ORE to VRI occurred it was already gone for years. I will stand behind my personal observation and my last 10 years of vacationing in St. George over an outdated resort directory from RCI.

I think some of the confusion is there is a Coranado Inn and Suites which is not a timeshare but a motel. That is the number that is listed above under the RCI directory. There is so much confusion that they have a number referring people to ORE which like I said has been gone for almost 3 years now.
 
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bmann said:
Even if this was an oversight how can you trust a closing company that can't even determine if the property exists.
Click to expand...

They probably got paperwork that stated what they listed, these are penny ante deals, people don't do title searchs and onsite inspections before trying to unload something for a trifling on eBay.

I know that Mike Saylor will make it right, correct a mistake and I don't think for a moment that anything fraudulent is going on. Yes, expect accuracy before you close. My 2 cents.
 
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JMAESD84 said:
It's always better to have answers to your questions before you bid, but if you have read the add carefully and it's clear that a charge is out of place, I wouldn't hesitate to bid assuming that this will become a non issue.
Click to expand...

My feelings go the other way. Focus on the first part of the equation - winning the auction at the lowest possible price. Since e-bay auctions are non-binding, you can always opt out if what is really being sold is less than what you want. You can do your detailed due diligence after you buy, and have seen a copy of the estoppel letter. I look at e-bay as the equivalent of answering a classified ad. No commitment is really made until you agree to follow up your bid with payment.
 
I like Mike

Just did purchase #3 with Mike Saylor at Vininc today, direct - he happened to have what I wanted, no eBay, will give a report on when the deed is recorded and resort notified.
 
do you have to pay a lot more to purchase direct than buying it via ebay? when I look at their website, the listed prices are usually a lot higher than the ebay prices.
 
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