New Internet Timeshare Vacation Exchange Service Challenges Old Industry Standards -- ResorTrader.com.Business Editors/Hi-Tech, Real Estate, and Travel Writers DEARBORN, Mich.--(BUSINESS WIRE)--Jan. 3, 2001 Adrian Adrian, Roman emperor Adrian, Roman emperor: see Hadrian. Adrian, city, United States Adrian, city (1990 pop. 22,097), seat of Lenawee co., SE Mich., on the Raisin River; inc. 1836. and Alina Madau know very well the frustration vacation owners have in exchanging their timeshare A form of shared property ownership, commonly in vacation or recreation condominium property, in which rights vest in several owners to use property for a specified period each year. resort. They own a timeshare in Cancun, Mexico and their first exchange with an exchange membership service cost over $250. To save money on their next exchange, they attempted an online direct exchange and almost lost their resort that year to an owner they never met. Adrian began to search for a better way to trade but was unsuccessful. ResorTrader was born out of these experiences (http://www.resortrader.com) The Madau's web based Coming from a Web server. See Web application. vacation direct exchange service eliminates the risk of a direct exchange and significantly reduces the cost over a membership exchange service. "Direct exchange websites that list resorts for exchange are numerous, yet completing a direct exchange is rare", Adrian explains, "We wondered why this should be the case in today's Internet world?" The Madau's believe they identified some key issues preventing more vacation owners from completing an online exchange of their resort. ResorTrader's direct exchange service guides the timeshare owner from start to finish. Owners begin by listing their resort property in ResorTrader's vacation database. Using ResorTrader's proprietary Vacations on Target search engine improves an owner's ability of finding a matching exchange. From there, owners are stepped through a series of simple forms that collect information to be used in their exchange. The owners can review the information online and then print an automatically generated ResorTrader exchange contract unique to their exchange. These contracts are mailed to ResorTrader where they are verified ver·i·fy tr.v. ver·i·fied, ver·i·fy·ing, ver·i·fies 1. To prove the truth of by presentation of evidence or testimony; substantiate. 2. against ResorTrader's database and held in escrow escrow Instrument, such as a deed, money, or property, that constitutes evidence of obligations between two or more parties and is held by a third party. It is delivered by the third party only upon fulfillment of some condition. until both owners' exchange contracts are verified. The actual exchange occurs when ResorTrader transfers the contracts via certified mail certified mail n. Uninsured first-class mail for which proof of delivery is obtained. certified mail (US) n → Einschreiben nt to the owners. The owners complete their exchange by faxing (or mailing) the exchange contract received from ResorTrader to the resort they are exchanging into. Resort management companies also benefit. ResorTrader offers an industry first - online verification of all exchange contracts processed by ResorTrader. "At the center of ResorTrader.com is the Resort Trader trader in U. S. income tax law, a person who deals in property as a business, making several purchases and sales within a year as distinguished from a few sales of assets held for investment. !" exclaims Adrian. The Madaus have other plans for future services to benefit resort owners that will be offered for free or at a nominal price Nominal price Price quotations on futures for a period in which no actual trading took place. . For more information on ResorTrader Inc. visit the company's website at www.resortrader.com |
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