Original Message:
Re: I received an offer on my timeshare from Optimistic Vacations in Sevierville, TN, Jim Reagan is his name (by Judi Kozlowski - Re/Max P.):
lancec13 wrote:lisab810 wrote:I receive routine phone calls asking me if I want to sell my Pueblo Bonito Rose timeshare. As I've posted in older forums, I'm an idiot that didn't find Red Week until AFTER I paid the upfront fee to a one of those callers to sell my timeshare. Here we are a year later, I've lowered the price twice down to a fraction of what I paid for it, and I still own the timeshare. In addition to the company taking my money, the transaction also generated calls from a new group of vultures. For another up front fee, they can tell me how to get my money back. They can even furnish me with a couple of actual letters to send the robbers! Well today, I got a different phone call. Like the others, this company asked if I would be interested in selling my timeshare. They told me that they have people inquiring for the PBR. When I told them that I was, he asked what I wanted for it. I told him I would entertain offers, and didn't commit to a price. The man said he works for REPUBLIC PARTNERS PROPERTIES. What was different about this guys pitch was that I don't collect any money from me until they have a legitimate offer from a qualified buyer that has signed a letter of intent to purchase at the agreed upon price. At that point, I would have to pay them $1,850.00, and they would pay for all of the closing costs including title insurance. Since it didn't cost me anything up until that point, I told him that I would listen to an offer. Within a couple of hours, he called back with an offer of $7,200 offer. He said that it wasn't a guaranteed sell until they qualified the purchaser and did a property background to make sure I didn't owe money on the timeshare. They were simply seeking my acceptance of the price. I told him that I would take that price. He said that I would hear from them either later in the day or tomorrow. To me, this still sounds like an scam. But I've already been victimized once, so I'm not sure I would beleive any of them. Has anybody heard of them or this approach? It also sounds like its still an upfront fee?Lisa
Please, please, please read this general rule before you lose more money. Never...ever...ever pay a large upfront fee to any entity to sell, rent out, market, or relieve you of your timeshare. It is always a scam.
It does not matter what euphemism they label this fee (lien search fee, title search fee, money held in escrow, back taxes, closing costs, insurance, etc.). It does not matter what this entity labels itself (resellers, brokers, real estate agents/firms, brokerages, timeshare experts, etc.). Anyone that charges you a large, upfront fee is a scam!
And yes, you figured it out. Once they get your money, this mythical "buyer" that they've allegedly lined up will have disappeared into thin air. There is no buyer.
If they say that the money is for closing costs, then tell them that you will pay the closing company of your choice. Not theirs.
You also said that you receive routine phone calls from this entity. That's usually another sign of a scam.
Another red flag is that they said they could get you an unreasonably high price for the sale (or rental) of your property. Properties like yours are not selling for (I emphasize "selling for" and not "listing for") $7000 on the resale market. Check out what similar properties have sold for on E-Bay. I'm guessing it is no more than $1000. Some listings have probably closed without any bids!