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|Scam Reporter||Scam Tips Received|
Wheeling, WV, United States
Business Venture Scam
|+2 Timeshare Resale Scam |
The scam worked like this: First Capital Financials stated that they have a willing buyer who will pay for the unit about $5,000 more than the original purchase price. This makes the prospect of a sale all the more attractive â€“ especially with the immediate prospect of paying the maintenance fee.
First Capital Financials would handle the sale of the timeshare unit if I advanced them $2,260 for title search and other details relevant to the sale. They stated that this money would be refunded to me at the time of the sale and a letter of intent was sent in convincing â€œlegaleseâ€ specifying this.
This, of course, contrasts with the usual real estate sale methodology in which the buyer pays such up-front costs rather than the seller.
On the advice of my attorney, I contacted the resort and was told that this is a common scam of which they are well aware.
|alicen (Highlands, NC, United States) Added the following extra information on :2011-12-29 16:30:47|
Diddo - they contacted me with a buyer and offered $28,000 - seemed way to easy. Checked them out on the Better Business Bureau and they have had one complaint filed and only been in business since 10/2011. Wanted me to send them $2.276 to search the title etc and this would be refunded at closing.
|Claudia (Irvine, CA, United States) Added the following extra information on :2011-11-22 12:41:20|
They say they have a buyer for your timeshare, and seem legit, but they want you (as a seller) to pay for costs upfront. They have only been in the market since October 2011, beware! They have a short time frame while still looking legit to catch as many timeshare owners as possible.