Post reply

Re: I am a former TIMESHARE EMPLOYEE IN MEXICO (by Maria A.):

Hi there,

I purchased a 3 BR / 5.5 bath private Villa at a resort in Cabo almost a year ago. It's a deeded purchase, so it's actually a fractional use property and I have 2 weeks a year.

The story I was told was that I was buying a foreclosure for about $95k and that the market value is $210k. (I do have this in writing.) I was of course told several other unenforceable details but I do have a written guarantee of rental for the villa of $7700 per week NET for 5 years.

I was also told the developer would buy back the fractional rights from me at 75% of market value (not what I paid) so that would be $157k, enabling me to get a quick flip done and a nice profit. I have emails, texts, and audio recordings of this even though in my contract it's stated as a first right of refusal.

The company coerced me into paying off the note completely because they told me they would definitely buy it back within 90 days. 90 days later: they say the people who told me that no longer work there and that they have never bought back any fractional usage contracts nor do they plan to do it.

I am just a real estate investor and broker, not interested in personal use. Now I am looking into selling my contract, renting it out, or getting involved in litigation with the developer and I'm looking for reputable recommendation of resellers, lawyers and rental agencies in the Cabo area. Do you have any suggestions?

There is a lot more to the story but I don't want to get too far ahead here.

Thank you!

Maria