ELMC
DIS Veteran
- Joined
- Jul 4, 2011
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.
I agree with you here. Just because you are technically allowed to do something does not mean you should. The assumption is that sellers and buyers are negotiating in good faith. To negotiate for a contract that you do not have the intention of buying contradicts this belief.
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 If the offer is accepted and later withdrawn, the deposit would then be forfeited.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!
While I agree it could eliminate some potential problems to require a deposit prior to making an offer, I think that the paperwork it would create for the brokers would be prohibitive and making the deposit nonrefundable challenges Florida real estate contract law.
But I agree, timeshare transactions are different than typical real estate transactions. When I bought my house, I had to write a 1% deposit check just to make the offer, or else I would not have been taken seriously. Unfortunately, timeshare resales are a little looser, which creates the opportunity for prospective buyers who are not negotiating in good faith to operate.
I think that the best way to prevent this from happening is for the brokers themselves to vet their buyers. Just such a case was discussed in another thread where the prospective buyer backed out of multiple offers.