Has anybody dealt with [SCAMMER] Tele Teton? [merged]

[JWomble]

I was contacted by a company called Tele Teton (link deleted) last week about reselling my timeshare. I'm highly scepticle of these type of companies, but wanted to at least check them out. A quick google search show they are accredited by the BBB (A- rating) - but I'm not sure how easy/hard that is to do.

So can anyone give me the 411 on them?

 

[timeos2]

ANY group that calls YOU is 99% certain to be an upfront fee company. What are those? A group that makes great sounding promises to rent/lease/sell/transfer/etc your timeshare or system membership points at a good to great price. They often claim to have a buyer or a renter or a group wanting space, etc - but then YOU have to pay to assure the process gets done. In realty that is all they really want - the upfront money paid by you and they can basically disappear (you'll hear nothing more from them & they will be very hard to impossible to reach) to go after the next victim.

DO NOT try to deal with them as it is a scam. Forget any "guarantees" as they are unenforceable (ask yourself what recourse you'd have if you couldn't reach them tomorrow or they simply never followed through with the promises made). Forget any protection from a credit or debit card. They have things set up so what you are promised meets the minimum requirements to assure they, not you, get paid.

DO NOT try to use them or you will be out whatever money they manage to get from you. THAT is a guarantee you can bank on unlike the meaningless, unenforceable one they are trying to lure you in with.

 

[DeniseM]

There is a simple rule of thumb for dealing with timeshare business offers:

Any company that charges you a large upfront fee of any kind to sell or rent your timeshare, or to get your money back from another company, is going to scam you - period.

They make their money with the upfront fee and then they make no attempt to sell/rent your timeshare, or to get your money back.

Legitimate businesses charge a commission after the service, but the scammers all ask for a large upfront payment.

Here are some warnings signs with these kinds of companies:

1) Did you get an unsolicited sales call or mailing or email from them?

2) Do they say that they already have a renter/buyer for your timeshare? (Or an established market like people attending conventions.)

3) Do they claim that they can get your money back from another scammer?

4) Do they want you to pay hundreds/thousands of dollars for a title search, or transfer fees, or taxes, or a closing fee, or appraisal, or ANY large fee, UPFRONT?

5) Are they offering to rent/sell it for far more than the market value?

6) Do they want you to pay a large up front fee that supposedly you will get back?

7) Do they want your credit card number over the phone?​

If you answer yes to any of these questions, then this is the usual scenario:

Once you pay the fee and receive the contract, you discover that the company has only promised to advertise your resort, not to rent/sell it, and they don't mention having a renter/buyer in the contract.

Then, you won't hear anything from them for a long time, and when you contact them, they will tell you that the renter/buyer backed out, but they will advertise your timeshare on their over-priced website.

Finally, when you try to get your money back, they will point out that you signed a contract, and it's only for advertising.

When you try to challenge it with your credit card company, they will tell you that you only had 60 days to dispute the charge, and that it's too late to do anything.​

This is a bitter pill to swallow, but right now, most timeshares are selling for 0-20% of the original retail price. It's not a good time to sell a timeshare.

To see what your timeshare is really worth on the current resale market:

1) Register with ebay
2) Sign in
3) Search for your resort by exact name
4) From the menu on the left click "completed listings"
5) The next page will show you current selling prices

(Be sure you look at the completed listings - those are actually SELLING prices - you will find asking prices all over the place, but what really counts is what they actually sold for.)​

 

[yellowjacket60]

Selling through Tele-Teton

Tele-Teton has sent me a contract with an offer to buy my Wyndham points. The buyer has put down 20% pending Wyndham not buying back under first refusal. Either way I am told it will be purchased. If the buyer backs out, I will receive the deposit, $20000 less $1000. Once the agreement and loan by the buyer is approved, Tele-Teton has asked me send money to pay for the title search and then it will be closed. Tele-Teton appears to have BBB A rating and I can not find any complaints

 

[DeniseM]

100% SCAM - don't do it!

Wyndham points are selling for pennies on the dollar on ebay - NO ONE will pay thousands of dollars for them!

They are going to take the money you pay for the title search and STEAL IT - they have no intention of selling your timeshare!

There is a simple rule of thumb for dealing with timeshare business offers:

Any company that charges you a large upfront fee of any kind to sell or rent your timeshare, or to get your money back from another company, is going to scam you - period.

They make their money with the upfront fee and then they make no attempt to sell/rent your timeshare, or to get your money back.

Legitimate businesses charge a commission after the service, but the scammers all ask for a large upfront payment.

Here are some warnings signs with these kinds of companies:

1) Did you get an unsolicited sales call or mailing or email from them?

2) Do they say that they already have a renter/buyer for your timeshare? (Or an established market like people attending conventions.)

3) Do they claim that they can get your money back from another scammer?

4) Do they want you to pay hundreds/thousands of dollars for a title search, or transfer fees, or taxes, or a closing fee, or appraisal, or ANY large fee, UPFRONT?

5) Are they offering to rent/sell it for far more than the market value?

6) Do they want you to pay a large up front fee that supposedly you will get back?

7) Do they want your credit card number over the phone?​

If you answer yes to any of these questions, then this is the usual scenario:

Once you pay the fee and receive the contract, you discover that the company has only promised to advertise your resort, not to rent/sell it, and they don't mention having a renter/buyer in the contract.

Then, you won't hear anything from them for a long time, and when you contact them, they will tell you that the renter/buyer backed out, but they will advertise your timeshare on their over-priced website.

Finally, when you try to get your money back, they will point out that you signed a contract, and it's only for advertising.

When you try to challenge it with your credit card company, they will tell you that you only had 60 days to dispute the charge, and that it's too late to do anything.​

This is a bitter pill to swallow, but right now, most timeshares are selling for 0-20% of the original retail price. It's not a good time to sell a timeshare.

To see what your timeshare is really worth on the current resale market:

1) Register with ebay
2) Sign in
3) Search for your resort by exact name
4) From the menu on the left click "completed listings"
5) The next page will show you current selling prices

(Be sure you look at the completed listings - those are actually SELLING prices - you will find asking prices all over the place, but what really counts is what they actually sold for.)​

 

[sunshine4]

Tele-Teton has sent me a contract with an offer to buy my Wyndham points. The buyer has put down 20% pending Wyndham not buying back under first refusal. Either way I am told it will be purchased. If the buyer backs out, I will receive the deposit, $20000 less $1000. Once the agreement and loan by the buyer is approved, Tele-Teton has asked me send money to pay for the title search and then it will be closed. Tele-Teton appears to have BBB A rating and I can not find any complaints

My friend just lost 1200$ same thing when the fake closing date came they asked for $1600 more.

 

[timeos2]

Tele-Teton has sent me a contract with an offer to buy my Wyndham points. The buyer has put down 20% pending Wyndham not buying back under first refusal. Either way I am told it will be purchased. If the buyer backs out, I will receive the deposit, $20000 less $1000. Once the agreement and loan by the buyer is approved, Tele-Teton has asked me send money to pay for the title search and then it will be closed. Tele-Teton appears to have BBB A rating and I can not find any complaints

I hope you are listening & paying attention to the two posts after yours warning you NOT to try to deal with these people as it is a classic scam.

If you are truly considering it don't! As Denise mentioned Wyndham doesn't sell for much above a few cents a points tops. At the highest recent prices you get maybe $4000-$5000 tops. No way anyone will pay $20K for a resale - they are just using it as a come on to get you to buy in. Buy in is literally all they want as once they get your $$ they have accomplished all they ever intend to do.

Stay away and do not give them a $ you can't afford to lose.

 

[confused owner]

We have received the same promise

Tele-Teton has sent me a contract with an offer to buy my Wyndham points. The buyer has put down 20% pending Wyndham not buying back under first refusal. Either way I am told it will be purchased. If the buyer backs out, I will receive the deposit, $20000 less $1000. Once the agreement and loan by the buyer is approved, Tele-Teton has asked me send money to pay for the title search and then it will be closed. Tele-Teton appears to have BBB A rating and I can not find any complaints

Did yours turn out to be legitimate? We need to decide whether to go forward.

 

[DeniseM]

Did yours turn out to be legitimate? We need to decide whether to go forward.

That was Yellojacket's one and only post and they haven't been back since then.

You might as well flush your money down the toilet - don't do it!

 

[RX8]

I wouldn't touch it

Didn't spend a lot of time on this but this is what I found on Tele Teton.

While there is an incorporation in both Wyoming (since 2008) and Michigan (since July 2011), there is nothing on the web that proves they have been doing any business. Both phone numbers come back with nothing. There are however a lot of self promotions on the web, all done around June 2011. Not surprisingly, their website was just created JUNE 5 , 2011. In short, although they state they have been around for years doing this business, they have just popped up out of nowhere in June.

The biggest concern I came up with is their website has an address in Wyoming, their primary location. According to Zillow, this is a 1300 sq ft single family residence worth $153,000. However, there are MANY businesses supposedly running out of that address. None of which by the way is this particular company nor are the individuals with this company listed as being at the address.

http://www.corporationwiki.com/Wyoming/Cheyenne/2510-Warren-Ave-Cheyenne-WY-82001-a17297601.aspx

It appears the Michigan address may be a mail drop or virtual office. There again are A LOT of businesses associated with that same suite 805.

Their website states "The only cost to a seller is the processing costs for a title and lien search, legal opinion, and preparation of a new Warranty Deed and Closing Statement to convey good and marketable title to a buyer". This is probably an upfront fee. I wouldn't trust this one bit.

 

[Conan]

That corporationwiki link is dynamite!

 

[theo]

Tick, tick, tick, tick....

...their website has an address in Wyoming, their primary location. According to Zillow, this is a 1300 sq ft single family residence worth $153,000. However, there are MANY businesses supposedly running out of that address. None of which by the way is this particular company nor are the individuals with this company listed as being at the address.

This single family residence in Wyoming, allegedly "home" to hundreds and hundreds of different, entirely unrelated "businesses", was the subject of an expose featured on CBS' 60 Minutes a few weeks ago.

Let's just say that neither 60 Minutes (nor any viewers thereof) were "favorably impressed" with the legitimacy of the entire operation....

 

[Margariet]

Did yours turn out to be legitimate? We need to decide whether to go forward.

A total scam. Scammers get wiser and wiser by making websites that look professional. They present themselves as a mortgage and loan company. If they are interested in buying TS or property they should advertise with some property. They don't. it's just one big cover up for making money.

 

[pnut]

Tele Teton scam

I too was scammed buy Tete Teton Corp. This started 7/21/11 and I just got this info today that a lot of other pepole were scammed too. They even scammed the BBB ie Better Business Burearu by staying in good standings for their required time to get the accredited A rating on thier web site. Then they ran a 90 day scam to get people like us to fall for their fraud sales on our time share. In the begining of 10/11 their rating changed from A to no rating under review. Now as of today they are at F rating w/ 13 complaints against them keep them comming. Maybe the BBB will update their system so they don't get scammed any more. We should all get a class action suit going to get our money back. Also, if you have been scammed by this company you need to file a police report w/ the Lansing police dept. too. The more the marry. Good Luck to everyone. get back on the class action suit.

 

[Knowitall]

Much like other up-front fee companies- Teleteton is gone and will surely be back under another name and using a different address in a different state. The key know is finding out who the principles in the company are/were.

I doubt the Lansing PD can do much at this point....you need to file a complaint with the AG's office in your state and in Michigan. Unfortunately it's doubtful they will take serious action either unless enough people complain.

Unfortunately many timeshare owners have yet to learn the term caveat emptor.

 

[TUGBrian]

brutal....looks like this was first reported back in 2011...and after 6 years they are finally being punished by an Atty General

http://news3lv.com/news/local/florida-man-pleads-guilty-to-33m-telemarketing-scam-targeting-seniors

 

[LannyPC]

brutal....looks like this was first reported back in 2011...and after 6 years they are finally being punished by an Atty General

Well, better late than never. Hopefully the current scammers out there, who have not yet been caught, see this and note that the authorities can catch up to them sooner or later.