Timeshare sales, damages
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QuestionCountry: United States of America
In June we entered in a sales agreement for sale of our timeshare week for $6000. Buyer wrote it, sent $1000 deposit and agreed to pay in full by Sept. He did not pay off and in October he contacted us and said he still wanted it but had additional expenses. Said he would pay it off by December. In October I sent a certified letter, outlining details of the sales agreement and requested full payoff by December 1st 2005. In November he sent another $2000. Neither he or I planned on using the week this year. It was listed for sale or rent with the resort. I, the owner, rented it for the owned week. The buyer contacted me demanding reduction in payoff for the rental amount based on an alleged verbal agreement. I agreed but requested he send payment immediately which did not happen. I sent another letter, overnighter and signed for and told him I would honor reduced payoff if it was received by 12/17/05. If not I would expect payment in full by 1/15/06 or ownership would not transfer and I would advertise, rent or sell the week. Am I obligated to honor the reduction since 12/17 is passed? If he does not pay off by 1/15 what are my responsibilities in refunding his money?