Multiple offers

[andy117]

We've been looking at getting into DVC, when making an offer will the major sites let you put in multiple offers at the same time? We're looking for something in the neighborhood of 200 points, not too picky about which resort.

[Sur]

Our experience has been similar to buying a house.... put in an offer, wait for counteroffer/acceptance/declined. The resale company contacts you and you can put in another offer or not.

We never said "offer $XX but go up to $XX"... what would keep them from just putting the highest in (not to say they would, a few seem rather trustworthy).

If you expect it to sell fast, go with the best you can offer. If not, and another person outbids you, they can accept or get you involved in a bidding war.

Good luck!! Keep us updated!!

[Sandisw]

The times that I have put in offers, I'm usually heard the same day. Only once did it take longer so in my experience, the turn around is fast enough to do one at a time. Of course, we were looking for something specific so when we saw it, we put in our best offer from the start as we had a price point we were set on. It took us four tries to get a seller who was willing to accept that same price point.

[chalee94]

Originally Posted by andy117

We've been looking at getting into DVC, when making an offer will the major sites let you put in multiple offers at the same time?

are you willing to pay for all of the contracts if they all accept?

[Minnies Dad]

My experience has been you get a response back quite quick - so in my case, even when I have been pursuing multiple contracts, I only had 1 offer in at a time.

[disneynutz]

Originally Posted by andy117

We've been looking at getting into DVC, when making an offer will the major sites let you put in multiple offers at the same time? We're looking for something in the neighborhood of 200 points, not too picky about which resort.

Are you sure that you don't care which resort? You might be kicking yourself later once you spend some time in the different resorts.

Bill

[JimMIA]

Originally Posted by chalee94

are you willing to pay for all of the contracts if they all accept?

Charles has nailed the key question to answer in this kind of a scenario.

Generally, with an offer you are required to submit a deposit.

Three things are required for a legally-binding contract: an offer, an acceptance, and "consideration," which means something of value changing hands. Your deposit is the consideration. That means if your offer, accompanied by a deposit, is accepted, you have entered into a binding contract.

If you make multiple offers, and get multiple acceptances, you could lose multiple deposits if you decide not to go through with all the transactions.

Also -- and I've had this happen when I was selling -- if the prospective seller realizes you are making multiple offers, they may not take you seriously.

I had a prospective buyer like that. They were not serious, were wasting my time and the brokers, so I treated them accordingly. I did not even bother to respond to their offer.

*****
Bottom line: I would never make any offer I was not willing to finalize.

[Dean]

Originally Posted by andy117

We've been looking at getting into DVC, when making an offer will the major sites let you put in multiple offers at the same time? We're looking for something in the neighborhood of 200 points, not too picky about which resort.

IMO this is one of the very few areas where the applicable laws/rules and ethics diverge in timesharing. Unless one qualifies in some way and is up front about the multiple offers, I see it as unethical to do so. Just like I see it as unethical to cancel an offer or contract if a better one comes along. Past threads on this subject have suggested that many don't see it that way.

[WebmasterDoc]

Originally Posted by andy117

We've been looking at getting into DVC, when making an offer will the major sites let you put in multiple offers at the same time? We're looking for something in the neighborhood of 200 points, not too picky about which resort.

I would hope that resale brokers would require a deposit before submitting an offer to the seller. If the offer is accepted and later withdrawn, the deposit would then be forfeited. Most real estate transactions are conducted in this manner to prevent insincere offers.

I'd stick with one offer (with a deposit) if you are serious about a purchase. If I were a seller, I'd make sure a deposit has been made before even considering an offer.

Good luck!

[rojen]

There are many 200 point contracts out there. You could email a general offer to the brokers saying first person to accept your terms has a deal. Not an unheard form of offer. Problem is they're not identical, different use years and loaded vs stripped.

[Dean]

Originally Posted by rojen

There are many 200 point contracts out there. You could email a general offer to the brokers saying first person to accept your terms has a deal. Not an unheard form of offer. Problem is they're not identical, different use years and loaded vs stripped.

Not that much more difficult to take 3 or 4 contracts and formulate an offer on each c/w any variation in the number of points, UY and points accounting.

[CarolMN]

I do not think it is ethical to make multiple offers unless one is willing to go through with all of them if accepted.

That said, if a buyer cancels within the proscribed 10 day period, the deposit must be returned. This is from the Florida statute that governs the cancellation of a timeshare purchase in Florida:

721.10 (3) In the event of a timely preclosing cancellation, the developer shall honor the right of any purchaser to cancel the contract which granted the timeshare purchaser rights in and to the plan. Upon such cancellation, the developer shall refund to the purchaser the total amount of all payments made by the purchaser under the contract, reduced by the proportion of any contract benefits the purchaser has actually received under the contract prior to the effective date of the cancellation, as required by s. 721.06. Such refund shall be made within 20 days of demand therefor by the purchaser or within 5 days after receipt of funds from the purchaser’s cleared check, whichever is later.

The underlining is mine.

OP - it is better to make your offers one at a time. To speed things up, just put a time limit on each offer. For example, say that the offer is good for the next 24 hours or expires at 5 pm on 2/18/2013.

[andy117]

Thanks for all the advice. I'll be talking to a reseller tomorrow.

[heynowirv]

Andy I agree that the way to go is 1 offer @ a time. There's many contracts out there that you're looking for ,and people(brokers) will take you much more seriously.

[chalee94]

Originally Posted by CarolMN

That said, if a buyer cancels within the proscribed 10 day period, the deposit must be returned. This is from the Florida statute that governs the cancellation of a timeshare purchase in Florida:

721.10 (3) In the event of a timely preclosing cancellation, the developer shall honor the right of any purchaser to cancel the contract which granted the timeshare purchaser rights in and to the plan. Upon such cancellation, the developer shall refund to the purchaser the total amount of all payments made by the purchaser under the contract, reduced by the proportion of any contract benefits the purchaser has actually received under the contract prior to the effective date of the cancellation, as required by s. 721.06. Such refund shall be made within 20 days of demand therefor by the purchaser or within 5 days after receipt of funds from the purchaser’s cleared check, whichever is later.

The underlining is mine.

since the language says "the developer", does that section apply to resellers? i know it would apply to direct purchases from DVD, since they are the developer...but i'm a little surprised that an individual seller is subject to the same rule...