[ 2013 ] Question about "Value Trade Agreement" validity

Hello! I am a new use & new member around...

Short Story:
We supposely "traded" our existing time share for another one; in which SunSetWorld group would use our time share to "write off" their taxes. So we are supposed to send our timeshare documents to them, plus a fee of $590 (for Title research).

I know, people here will say "SCAN" rightaway... but this maybe a new (BAD) animal here:

The catch here is that we signed an agreement "Value trade Agreement" that set the terms giving "a discount" of $16,500 off our contract for our existing timeshare; as part of the deal.

The document says that in case they can not get our time share (our default by owner), they will charge us that price of $16k??

I will paste the terms of this Value Traded Agreement in the following message.

Question: should we go further and pay for the service? I have the fear they would go after us charging the $16K?

Thanks

here is the "Value trade Agreement" we signed:

This agreement is between ( me ) the "Owner" and Vacation Trade World S.A. de CV. "VTW" for value received. Owner acknowledges that VTW is an independent company and that this agreement is not dependent on any transaction taking place. X.....

It is mutually agreed that the property described below is being transferred by the authorized and legal OWNER to VTW as consideration for Value Received. The property shall be transferred, granted, or assigned to VTW and/or its assigns in such a
manner as to pass legal ownership, free and clear of any dues, encumbrance, easements, mortgage or maintenance fees, and will remain free and clear for an additional period of 90 days after transfer of title takes place.

OWNER agrees to cooperate with VTW process for completion, registration, and execution of transfer, and to provide VTW with all documents -necessary, including a notarized power of attorney, within 60 days of OWNER signature of this contract. Further, 'OWNER understands that the transfer process wiil start after all required documents have been received by VTW. Failure to comply within the 60 day period will cause penalties and/or additional collection costs, including default.

OWNER also agrees to make payment of any fees pertinent to transfer of title, this includes; Transfer Fees charged by property management, closing company, recording fees, taxes, and any fee due or billed within 90 days after the transfer of title takes place. OWNER is responsible for full payment of any maintenance fee due or billed in the current year, and a onetime $590 Title Research Fee....

OWNER agrees that in the event that the property transferred is found to contain the right of refusal of transfer by the developer, or if for any other reason the traded in resort is not -willing to release the contract name, the OWNER shall be held to contractual obligation and pay on demand to VTWthe Value Received.

In the event of default by OWNER, Value Received shall be due and payable on demand OWNER further agrees that in the event legal action arises in connection with this Agreement, the successful party shall recover from the other, responsible and actual legal costs and attorneys fees as governed by the state ofQuintana Roo, Mexico.


Property description:

Name of property
City/State/Country;
#Weeks (points) M.Fee Resort Season Unit Size

Contract Number

Gross Price $
Value Received $16K
Final Price $11K

Owners have read and agreed to terms entered this day of year


Owener signature


Vacation Trade World S.A. de C.A. Calle 10 x 12, Centro

Calle 10 x 12, Centro,
Playa del Carmen f
Solidaridad, Q. Roo; Mexico
Phone 011 52(984)8033927
Fax 011 52(984)8794235
maiicustomerservice@valuetraded.com
Web Site www.valuetraded.com

I just would like to know if this "Value Trade agreement" seems Real for you Members and Users.

The guy on the phone said that they would transfer our property to them, and once the transaction is done, we no longuer will have the Maintanence fee for our previous time share.

thanks


Below this is the document showing instructions to iniciate the "trade":


To continue with the transfer process of your property, we will require:

1. Limited Durable Power of Attorney • Please print out the POWER OF ATTORNEY attachment and print your
name(s) exactly as they appear on your Ownership Documents. • Sign the POWER OF ATTORNEY where it says GRANTOR and have the form
notarized. (Please make sure the notary seal is legible) • Send the original back to the following address by any courier of your
choice (DHL, UPS, FedEx)
Vacation Trade World Av. 10 con Calle 12 Edificio Jira DEPT. B4 Playa del Carmen, Quintana Roo MEXICO 77710
*Note that documents sent by regular, registered or certified mail can take 6 to 10 weeks to arrive and may result in delays of the transfer process.

2. A copy of photo identification for all parties listed on the ownership documents that include your signature.

3. A copy of the recorded deed.

We would also appreciate if you could include copies of any document(s) you may feel are relevant to your membership. (Purchase agreement, maintenance fee bill, etc.)

It is important to note that the abovementioned documents are required to begin the transfer of your membership. If, for any reason, we do not receive these documents within the timeframe stated on your Value Traded Agreement, your signed contract will be in default and we will not be responsible for the transfer of your membership.

Service is our commitment.
Kind Regards,

Jaime Gutierrez

Very simply, its a scam. Dont waste your time.

Where would I even start? They are asking for YOU to pay them at least $590 - and turn over all sorts of information you don't want them to have. Nowhere do iI see them paying anything or selling anything - they are trying to take title with you paying all costs, $590 to them and then they most likely plan to abandon the property (never pay the fees due). They are also covering if the resort is wise to this scam and won't accept them as an "owner" - you agree to pay them but keep title to the timeshare.

It is a lot of nonsense meant to make you think you are selling - they are buying - when in fact you are paying and getting nothing in return,

Don't do it! Yes, it IS a bogus "offer".

This is how these companies do business, its not a scam. The really don't want your timeshare, but are willing to take if in order to get you to buy their timeshare. I have dealt with this company & they will follow through, although you should stay on top of them & make sure they transfer your timeshare. If you ask them, they will probably let you keep your timeshare.

ttt said:

This is how these companies do business, its not a scam. The really don't want your timeshare, but are willing to take if in order to get you to buy their timeshare. I have dealt with this company & they will follow through, although you should stay on top of them & make sure they transfer your timeshare. If you ask them, they will probably let you keep your timeshare.

Click to expand...

Hello ttt ; just to clarify; have you deal with what company (SunsetWorld or Vacation Trade World S.A. de C.A.) ?

The one making the transfer is Vacation Trade World S.A. de C.A. ... I really would like to make this work (I mean get rid of our existing timeshare and making the Sunset works as promissed) ... one employee of the trade company assured me that, the majority of transfer deals go through; and when not, is mostly because they did not received the requered documents...

- What is strange is how they are very up-front about the $590 Title Research Fee ... without even asking much of my own info... they said they already have my info in that ""Value trade Agreement" and that to move the process he wanted my credit card... and I was supposed to mail the supporting docs later...
- It violates the general rule here in the TUG group of not paying anything up-front...

Your thoughs are highly apreciated.. thanks

The "thoughts" have been clearly stated. If you give them your CC number you don't have to worry about getting them the documents. The so called trade will /would never occur. You will be out $590 and be back asking how to recover it. From the start this is a simple up front fee scam. Period. Nice that they are warning you up front - pay attention or lose your money. Don't give them a dime.

If you can't understand WHAT they are saying NOW, you can not expect them to perform WHAT? It is DOUBLE SPEAK and NONSENSE ... you can't even explain it to us clearly.

But you will be out at least $590 ... AND will still own your timeshare and/or some other junk.

Granting them Power of Attorney??? that's creepy.

thanks all for your replies...

Yes, sure this has several indications of a Scam... my point was to try to make sure, if for instance; that one could work... specially because ttt (member above) mentioned he already has worked with them...and mentioned it was not a scam. It seems ttt is an old school user here in the community (with experience with deeds)... and that is why I am paying attention.

Now, assuming we do not Proceed with this "Value Trade Agreement", which was signed inside the sales office in the resort, together with all other property documents ...
Would they (Vacation Trade World) be able to start a Collection process on us ?

I mean, the agreement specifies a value ($16K), which in case they do not get the property, we would be liable for that value? Is that all bow-shit?

on the agreement: "OWNER agrees that in the event that the property transferred is found to contain the right of refusal of transfer by the developer, or if for any other reason the traded in resort is not -willing to release the contract name, the OWNER shall be held to contractual obligation and pay on demand to VTWthe Value Received. "

BTW, Collection process if a Scam does not go through is a strange concept...

I think it is unlikely that they would come after you for the $590. But if they do intend to come after you, I don't think paying $590 would help -- what would stop them from coming for the remaining $11,000?

I would just ignore this and do nothing. If you are concerned about them coming after you for the $590, contact http://www.profeco.gob.mx/english.htm (maybe someone here can provide a phone number) and ask for help.

Don't give this company your money.

bioleal said:

...
BTW, Collection process if a Scam does not go through is a strange concept...

Click to expand...

I don't think scammers send people to collections. They may threaten to do so to get people to send them money, though.

No that's the basis of a different scam

http://www.insidearm.com/daily/coll...fficials-raid-collection-agency-arrest-three/

bioleal said:

This agreement is between ( me ) the "Owner" and Vacation Trade World S.A. de CV. "VTW" for value received. Owner acknowledges that VTW is an independent company and that this agreement is not dependent on any transaction taking place. X.....

Click to expand...

This part also bothers me.

Doesn't the entire agreement totally rest on a transaction taking place?

I'm no lawyer, but that seems ... odd.

Did you say that you actually signed it? If so, see if you have the right to reverse that within 3 days. Mexico is a different animal, you may not have that right.

If you can cancel, do so and research further. You can always look them up again and proceed.

Please do keep us posted. And, Good Luck!

hi Geekette ....

Yes, sure we signed ... The document specifies our contract number with Sunset group... it says gross price (empty), "value received" as $16K ; Final Price: ashamed to disclose.

The information I got so far is that, they are a company mostly interested on the $590 fee ... because the transfer costs much less than that, and they would make a profit of it... but, it seems they do make the transfer (to them) happen for real (as long people stay on top on them to make it happen)... they used to be called carribran resales...
... if true, they will abandon and never even resell it ... or if so, profit again on the transfer fee.

So, most likely they would not reinforce Collection or start legal action...

Well does your property have rofr?

It seems you are worried about the rofr clause costing you, don't you already know if the resort you own has it?

SmithOp;

Not that I know (the resort we have (133 points@Monarch grand vacations) does not have an separate doc as Right of first refusal) ...

The new deal with Sunset group , Sure it has Right of first refusal (they know better) ... BTW, this Right of First Refusal (to buy it back for no less than market value) sounds like a real Scam ... at the presentation we believed it, but after reading all about Sunset and other TS sales tactics, they will most likely say "we don't need the inventory"... right?

Have you ever hear someone returning a membership and getting $ back (through ROFR)?

Read this thread or at least post #16.

http://tugbbs.com/forums/showthread.php?t=187954


On e-bay most resellers strive for around 99% happy campers.

It is no problem for a company to get a couple HC and extrapolate a la pyramid selling schemes and testimonials.

However, when you you get ONE happy camper here and at least NINE dissenters none who want $590 from you I would go with odds and save my wallet and time.

Title insurance on a TS is around $200 although a waste since probably can only collect a $1. Since Mexico TSs are leases there are no deeds to even search!

There is no tooth or time share fairy who hands out cash especially down Mexico way!

bioleal said:

SmithOp;

Not that I know (the resort we have (133 points@Monarch grand vacations) does not have an separate doc as Right of first refusal) ...

The new deal with Sunset group , Sure it has Right of first refusal (they know better) ... BTW, this Right of First Refusal (to buy it back for no less than market value) sounds like a real Scam ... at the presentation we believed it, but after reading all about Sunset and other TS sales tactics, they will most likely say "we don't need the inventory"... right?

Have you ever hear someone returning a membership and getting $ back (through ROFR)?

Click to expand...

No, I am not aware of refund on this type of points membership. What I was getting at is if Monarch wants your membership for the 16k they are crediting you, then Monarch pays it to you and this contract obligates you to give it right to them. I don't see any reason to worry about that rofr clause, but I'd be worried about a lot of the other warning signs.

HGVC has rofr on 2 of mine and I know they will give me what I paid if I'm dumb enough to trade for another purchase from them, or they will give me rofr price if I just want to deed it back.

Thanks Pacodemountainside and SmithOp;

Do you guys think we can get into serious trouble for "not cooperating" with that Value Trade Agreement ?

The wording of the contract (post 2 above) is scary ... specially the last to paragraphs. In case, we default it, and they really come full force legally, that would be terrible. Well, fear might be part of the scam...

Most above think nothing will happen, and we should just ignore the "Agreement"...

we will wait (do nothing/ignore) and see what happens ... I will keep you guys posted ...

Thanks a lot! for all the advice ...

Value Traders

Bioleal - What was the outcome of your experience with Value Traders in trading your timeshare? I am finding myself in the same situation. Were they legit? Did you pay?
My spouse is saying don't pay the $695 they are charging for the title search and transfer fee, and I'm on the fence.

Will appreciate your sharing your experience/insights. ...or anyone else who has dealt with Value Traders (VTW).

Thx.

Welcome to TUG - Please note that this thread is more than a year old, and Bioleal hasn't been here for more than a year. You can click on their blue user name to send them a message.

Please read all the posts in this thread carefully - this is almost without a doubt a scam.

"Value Trade Agreement" - Paying for trading in my two Mexican TS for new one

Traded in Pueblo Bonito Sunset (Cabo) and Westgate (Orlando) for a new TS (Villas del Arco in Cabo). We are supposed to pay Value Traders some $1200 to manage the transfer of these two timeshares for which they have deducted thousands from our purchase price.

Has anybody had any experience with them? Will they do what they say? They are telling us if we don't pay for this, we've breached the TS deal & we will have to pay the full price they have allowed us for the two TS's towards the deal. Of course we have major buyer's remorse & would like to walk away from this whole deal but we are far from the recission period. Help!