1 Jan, 2018 → by ClaimboUser934027
Timeshare resale SCAM
*SOLVED

2

All City Management Group is working a Timeshare Resale Scam, the contact existing timeshare owners saying the have a corporate buyer lined up for there time share, most timeshare owners are anxious to get rid of these timeshare, as was I, they say no money is due up front, but an 8% finders fee will be due once you received the funds for the sale. Sounds good so far no out of pocket expense. They provide you with a nice contract that shows the sales price, usually twice what you paid for the timeshare, and set up up with an Escrow company, Realty Executive Escrow, interesting think about both companies is that the have the same domain based and created in Scottsdale AZ. You then are contacted by Reality Executive Escrow and told that the company buying your timeshare has already provided and deposited in to REE's account the funds to purchase your timeshare, they even provide you with an nice little sign on so you can see the escrow funds, which is via their website. Now the fun begins, they tell you that in order to complete the transfer and sale, Mexico requires that you pay the transfer fee of 10%, AV tax of 3% and income tax on the sale of 16%. This all has to be paid up front in order to complete the transfer...and that the company buying your timeshare will reimburse all fees paid, they even provide an updated escrow statement showing the additional funds have been deposited in to escrow. They provide you with information to wire transfer money to an account in Mexico. They are very slick and convincing. But this is a SCAM! If you own a timeshare in Mexico and receive a call or email "run away"! I am in the process of filing with the FBI!
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