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New forms of timeshare fraud are being developed by scam artists every day.
Learn the new trick used by these swindlers to keep getting money from people: all they want is to sell their timeshares and be done with it.
Mexican Timeshare Solutions has undertaken an investigation into the legitimacy of many companies, such as:
Wade Capital Management
Taylor Trust Company
Advantage Trust International
Continental Resources - Eagle Marketing
United Assets Group, Blusky Management, A! Financial Solutions - World Luxury destinations
These timeshare escrow service companies claim to be involved with timeshare ownership sales and to be a "timeshare closing company".
MTS has received several calls from clients and the office of the General Attorney in Florida requesting our assistance in this matter.
The operation
These so-called "timeshare closing companies" contact timeshare owners and claim to have a buyer ready to purchase their property for much more than what the timeshare owner paid for in the first place.
They send phony documents from Secretaría de Hacienda (IRS) and PROFECO (BBB) requesting to pay for taxes and timeshare fees in order to get their timeshare sold.
Obviously, these fees are paid upfront and are anywhere from 5% up to 30% of the selling price. They usually need to be wired to an address in Mexico.
Wiring money is the same as handing over cash; once you have paid for it, it is irretrievable.
If a timeshare owner pays for it, it is more likely that this person will never receive any money from the sale of the timeshare.
The reason for this is that there was never an actual buyer.
These timeshare transfer companies created this scheme to get the money clients paid, supposedly to the Mexican IRS.
This scam modality is becoming more popular over time, and it is very important to educate timeshare consumers not to fall victim to these deceitful practices.
Taxes and fees for selling a timeshare in Mexico
Since in Mexico timeshares are a right to use and not really a real estate purchase, There are NO FEES to be paid to the Mexican Government, the Mexican IRS or PROFECO.
In fact, the only timeshare transfer fee a Mexican timeshare owner might need to pay is the transfer fee the resort will request in order to change the name of the contract to the new owner.
Do I need to use the services of a "timeshare closing company" to sell my timeshare in Mexico?
Unlike owners who own timeshares in the USA or Canada, in Mexico, most times all that is needed is a simple request to the customer service department of the timeshare resort to transfer the contract to a new owner.
The resort will accept this for free or for a charge that might exceed a few maintenance fees.
Advice for owners wishing to sell their timeshares.
Don't agree to anything until you have had a chance to check out the company that contacted you.
Ask for all the information in writing.
Ask if this company is licensed to sell real estate.
Deal only with licensed real estate brokers and agents, and check their credentials.
Accept reality: timeshares are a family investment and not a financial investment. A timeshare sold on the secondary market will never be sold for the original retail price.
People who expect to sell their timeshare for more than what they purchased are the best targets for these fraudulent organizations.
About Mexican Timeshare Solutions
Mexican Timeshare Solutions is an organization that seeks honest standards for honest timeshare sales behavior.
MTS offers assistance to cancel a timeshare contract. MTS provides free consultations and works strictly on a contingency basis to convince clients that MTS will work on the client's side.
MTS has been in business for 18 years and has helped thousands of clients cancel their timeshares.
If you have been contacted by anyone claiming to have a buyer for your timeshare, contact Mexican Timeshare Solutions for a free consultation.
To receive more information about timeshare escrow companies and how to cancel your timeshare, send a WhatsApp to +52 333 239 6589, fill out the contact form, or call us at +1 714 277 3662
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Leave your comment below and share your opinion with us. To know more about timeshare scams go to: What Happens if I Stop Paying My Timeshare?
I signed a contract with a Mexican timeshare. I have had buyers remorse. They that we had to sign right then and there. I didn't have time to think about it nor research the company. I purchased a timeshare on Jan. 18th. 2009. How can I get out of the contract?
I’ve heard so many horror stories about timeshares. They are just way to expensive for what you get. And I personally wouldn’t want to visit the same place enough times to have the cost match the value. It just doesn’t add up for me.
Timeshare owners across the country are being scammed out of millions of dollars by unscrupulous companies that promise to sell or rent the unsuspecting victims' timeshares. In the typical scam, timeshare owners receive unexpected or uninvited telephone calls or e-mails from criminals posing as sales representatives for a timeshare resale company. The representative promises a quick sale, often within 60-90 days. The sales representatives often use high-pressure sales tactics to add a sense of urgency to the deal. Some victims have reported that sales representatives pressured them by claiming there was a buyer waiting in the wings, either on the other line or even present in the office.
Timeshare owners across the country are being scammed out of millions of dollars by unscrupulous companies that promise to sell or rent the unsuspecting victims' timeshares. In the typical scam, timeshare owners receive unexpected or uninvited telephone calls or e-mails from criminals posing as sales representatives for a timeshare resale company. The representative promises a quick sale, often within 60-90 days. The sales representatives often use high-pressure sales tactics to add a sense of urgency to the deal. Some victims have reported that sales representatives pressured them by claiming there was a buyer waiting in the wings, either on the other line or even present in the office.
Wow! I got a call like that, too. The phone number was 858-346-2222. I don't own a timeshare but I played along and pretended I did. The caller, James, told me I had to send money to somebody name Daniel Flint in Winchester, VA to initiate the process. I'd say James was an expert in scamming. He sounded very professional, never hesitated in giving me false information and he knew just what to do. I'm afraid somebody else will fall for his scam.
Wow! I got a call like that, too. The phone number was 858-346-2222. I don't own a timeshare but I played along and pretended I did. The caller, James, told me I had to send money to somebody name Daniel Flint in Winchester, VA to initiate the process. I'd say James was an expert in scamming. He sounded very professional, never hesitated in giving me false information and he knew just what to do. I'm afraid somebody else will fall for his scam.
I seriously need help trying to get out of this scam! Nothing has been fulfilled according to the saleperson and I am fed up with paying fees for nothing please contact me so I can figure out how to get out of this disaster!
I seriously need help trying to get out of this scam! Nothing has been fulfilled according to the saleperson and I am fed up with paying fees for nothing please contact me so I can figure out how to get out of this disaster!
Unfortunately I also was a victim of timeshare fraud, if I had read this type of articles before buying it this would not happened to me. I hope that others can read it and avoid to fall down in this type of scams.
fui engañado ´por mi empresa de tiempo compartido, ofrecieron venderme mis dos semanas en GRan Mayan por una cantidad mayor a la que lo compre solo que tenia que ponerme al corriente con todos mis pagos y al pasar el tiempo no recibi nunca el dinero d la venta y me entere que seguia siendo dueño del timeshare
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