4/28/2010 8:12 AM (PST)

Cathy,

I have linked their BBB report above for you to view. They are a new company but the concerns are the same forthis company. I have included some helpful information below but you can certainly file your complaint about the other two companies at www.bbb.org

Click on the New Scams section in the top menu bar here on TrustLink and see the article we have posted on "Selling Your Timeshare: Important Things To Know"

Over the years, there have been a lot of companies that came to life with the promise of helping people sell their timeshares. Most of these companies are located in areas where there are a lot of timeshares, like Florida and California.

Typically, they make a lot of promises about their abilities and claim that there is an army of people dying to purchase timeshares, and all of this will be available to you if you pay them the requested fee.

Reality is completely different. The truth is that timeshares are next to impossible to sell. There's almost no secondary market for timeshares, especially given the current economy and all of the problems in the housing market. Furthermore, if there really was a strong secondary market, these companies wouldn't have to charge a fee, they could make more money charging commissions on sales. The bottom line is that you should not pay any upfront fees to sell your timeshare to somebody else. Check out the Florida AG's website also:

http://myfloridalegal.com/pages.nsf/main/9161973ee14fdb1a85256cc900600947!OpenDocument

There are legitimate title transfer companies that will actually purchase a timeshare, and the benefit to the timeshare owner is that when closed, it gets them out from under the continuing obligations for common area fees. But the whole industry is hot with scams and fraud.

Be aware of a sequence of slick sales tricks - here are some scenarios:

1) The timeshare company offers to list your timeshare and you pay them a marketing fee, but after a few months when it doesn't sell they try to upsell you into an upgraded marketing package of some sort for more exposure (and more money) with so called guaranteed results.

2) After a few months of it still not selling they then offer to do you a favor and take it off of your hands for free so that you don't have to pay the monthly maintenence fees. The monthly expenses are a cost burden to many people who become desperate to get out from under these. These companies know that and use it against you.

3) They try to convince you to turn over the timeshare and "take it off of your hands" for free - now they really start marketing your timeshare, which they now own, and they sell it at a profit. The point is that the only timeshares they are actually selling are the ones that they themselves own through their process of psychologically wearing down so many timeshare owners and convincing them to give up their timeshare properties.

4/28/2010 8:47 AM (PST)

I would stay away from a brand new company like this. There are a lot of timeshare scammers using a form of corporate identity theft - pretending to be with a company with a recognizable, reputable name. I don't know if that's the case here, but there are many established real estate agents & brokers everywhere in this country. Don't give them money - you may be on a list of previously scammed consumers ("reloader scam").

Can you tell us more about the transaction? Are you supposed to wire money anywhere? Are they telling you they will get your money back that you lost previously?

Check out the resale guidelines from the American Resort Development Association:

http://www.arda.org/Content/NavigationMenu/ConsumerInformation/ResaleGuidelines/Resale_Guidelines.htm

4/28/2010 10:01 AM (PST)

I have not sent any funds to this company. They are stating on the phone that if the transaction does not take place within 120 days, then my money will be refunded at that time. They are also telling me that they can retrieve any funds that I may have lost to other companies. But I heard the same thing from Creative Vacation Solutions and we all know that the Florida state Attorney General has filed a lawsuit against them. It all sounds so familiar.

Their name did have me wondering if they were trying to connect themselves with Prudential Preferred Realty. This is what makes me very wary of trusting them.

4/28/2010 10:18 AM (PST)

Cathy, this is a reloader scam - run, don't walk from these guys.

4/28/2010 3:30 PM (PST)

Thank you very much for setting me straight.

5/5/2010 9:33 AM (PST)

Its just a rip off and BSSS!!!!

5/22/2010 12:13 PM (PST)

When I called from the mailer they sent me, they said that they buy it at a meeting with me and my wife. They say they aren't a reseller or a listing agent. There are no fees whatsoever, so they say. They will make an offer to purchase it then and there. I don't understand why they won't just tell me what they will pay for it over the phone. That makes me suspicious. Perhaps they write me a bad check and then I have already signed the deed over to them before I find out the check is no good.... Hmmm