Condo Reseller/Broker: Coral Management SErvices (Chicago)

Has anyone heard of or had dealt with "Coral Management Services" of Chicago, IL? This company has contacted me saying they have a buyer who want to buy my Playa Del Sol 1-BDR timeshare unit for $34,000, and is not requesting any upfront fee. It sounds very fishy to me. If they are crooks, I would like to play with them and report them to authorities before they cheat on other people. Any feedback would be appreciated. Amy

It's a SCAM !!!!!!!!!!!! They gain your confidence by telling you there are no upfront fees. They then start to talk you through a process and eventually tell you that there are some sort of costs in either document fees or appraisal fees. Nobody is going to offer you money for something that has relatively no value. If they cold called you that is the first sign of a scam. Please report them so the more complaints the states receive the better the chance of putting these parasites out of business.

thank you for your response. I was scammed before, and determiend to help to catch those crooks whenever I can. AmyD

How do you know this offer is a scam? We were also contacted by Coral Management with the same offer to buy our timeshare at the same place.

Don't listen to people on here and give them your money. Just don't complain about it when your money is gone. If they contacted you and said they will buy your timeshare it's a SCAM !!!!! go to this website : www.stopthescam.org and go to timeshare then click on some of the links. It will save you thousands of dollars.

Amy Any advice same I was offered around 30K FOR STUDIO in Mexico. Please advice about Coral Management SErvices (Chicago)

I did some research on Taylor Trust Company in Houston, TX, the escrow company being used by Coral Management. They are not legitimate. The Texas Real Estate Commission confirmed to me that this is a SCAM!! DO NOT give them any money or work with them. There have been several complaints about Taylor Trust in TX.

These guys keep calling and me, and also used some high pressure techiniques (such as they have spent a lot of time on my contract, the buyer has a time limit ... etc). (Three guys named, Shawn, Davis, Peter calling (but their voices sound similar).

They first said there are no up front fee, so I asked them to put if in writing that any fees that they will charge will deduct from the sales proceed, otherwise no deal. Then in a sudden their tone changed and stated that their guys should have made it clear that we have to pay Title Search and Escrow fee first. So they said they will take us off the calling list then.

So I agree they are scam (I had been scammed before in similar situation, that's why I am very suspicious about any of these phone calls.) They are sammers!

Amy

We're just trying to warn people that these are scams. We don't make any money by helping each other in here. These companies use all different ways to get " fees " from you. They are all scams. There are extemely few if any timeshares that are worth any money on the resale market. If you can unload your property without it costing you an arm and a leg you are ahead of the game. I got rid of two of them this year by just deeding them back to the resorts. The fake charity donation is another scam.

Agreed, This is not a legtimate business. Anyone whom has been contacted SHOULD NOT release any information such as identity or email any contractual information regarding ownership of timeshare or otherwise. My recommendation is that you seek legal advice prior to signing or committing to any form of agreements from this business. Good luck and BEWARE!!!