Best Vacation Survey

Carmoo · Nov 4, 2010

I just got a phone call from someone named Michael Smith from Best Vacation Survey in Valdosta, Georgia. He told me they had a family interested in buying my timeshare at Summer Bay. He asked me some questions (not requiring valuable info) and said he would turn my file over to the Sales Department and someone would contact me. The deal is that they will lend the buyer the funds to purchase the timeshare and when they sign a binder (which supposedly the can't break) then I will need to send Best Vacation Survey a check for $1,850 to cover the Title work. My instinct tells me to run the other way, especially since the amount they wanted to offer my timeshare for is much more than I think I could get trying to sell on my own. Has anyone been contacted by this group? What was your experience?

Carolyn

LannyPC · Nov 4, 2010

Follow Your Instincts

As the seller, you do not have to pay a dime for such a transaction. The buyer is supposed to pay all the closing costs.

If this alleged "buyer" (who, I'm 99.99% sure is a figment of the imagination) insists that you pay closing costs as part of the deal, then pay the closing company. You can find a few reputable, recommended closing companies on TUG's website.

P.S. And don't fall for any claims of the money being put into escrow which will someway, somehow be refunded.

Carmoo · Nov 14, 2010

Having Second Thoughts

LannyPC

I did not pay anything to this company. However, I got a call a day or so later from someone named Albert Dean with Luxury Condos International who said they had a buyer for my condo at Summer Bay. They wanted to know if I was interested in selling. They approved the buyer and indicated that the buyer had signed the Right of Recision document and paid the downpayment and the closing costs fee already. I asked a lot of questions, got as much info as I could and checked the BBB. They have a NR (No Rating) but have had no complaints in 3 years. So I went ahead and authorized a charge to my credit card for $1,850 for the estoppel papers and the other legal documents. I am supposedly waitng for the closing documents now. I almost fell for another scam but was ale to stop the credit card charge. I did threaten the guy I was talking with with the police and the PA State's Attorney General and he didn't seem the least bit nervous. I hope the butterflies in my stomach go away. I don't need any more debt.

DeniseM · Nov 14, 2010

This is CLEARLY a scam! You need to call your credit card company immediately and cancel the charge.

Stefa · Nov 14, 2010

SCAM for sure. This is a very common scam that is being run by a lot of companies. They got you to sign a contract agreeing to pay for a service (in your case legal fees, but can also be title search or appraisal fees) and then the sale never happens. When you try to dispute the charges, they will say you paid them for a service which they performed. The fact that the service did not lead to the sale of your timeshare does not matter.

These companies also have a habit of closing up shop (and later reopening under a different name) as soon as they feel the heat. Even if your credit card company is inclined to take your side, there may not be any way to get your money back.

Stefa · Nov 14, 2010

As a side note: No company that cold calls you is legitimate. These are all scams designed to take advantage of desperate people who do not know how to dispose of their timeshare. No one is going to approach an obscure company with an offer to vastly overpay for a timeshare provided said company can find them a seller. People only pay top dollar for a timeshare because a salesperson has either twisted their arm or filled their head with lies. No one volunteers to overpay for a timeshare.

LannyPC · Nov 16, 2010

Carmoo said:
LannyPC

I did not pay anything to this company. However, I got a call a day or so later from someone named Albert Dean with Luxury Condos International who said they had a buyer for my condo at Summer Bay. They wanted to know if I was interested in selling. They approved the buyer and indicated that the buyer had signed the Right of Recision document and paid the downpayment and the closing costs fee already. I asked a lot of questions, got as much info as I could and checked the BBB. They have a NR (No Rating) but have had no complaints in 3 years. So I went ahead and authorized a charge to my credit card for $1,850 for the estoppel papers and the other legal documents. I am supposedly waitng for the closing documents now. I almost fell for another scam but was able to stop the credit card charge. I did threaten the guy I was talking with with the police and the PA State's Attorney General and he didn't seem the least bit nervous. I hope the butterflies in my stomach go away. I don't need any more debt.

So in your original post, you said that your instincts told you that the first offer was a scam but "a day or so later" you paid that money?!?! You were reluctant to pay upfront for closing costs but were willing to pay upfront for "estoppel papers and other legal documents"? What's the difference?

Didn't it seem odd to you that you received two calls within a few days of each other both asking you for the exact same amount of $1850?

And what's this "Right of Rescission document"? These scammers are coming up with new things every day.

John Cummings · Nov 16, 2010

LannyPC said:
As the seller, you do not have to pay a dime for such a transaction. The buyer is supposed to pay all the closing costs.

Those days are long gone. I agree 100% that this is a scam but the days of the buyer paying the closing costs have disappeared except in very rare cases.

Stefa · Nov 16, 2010

Carmoo said:
I got a call a day or so later from someone named Albert Dean with Luxury Condos International who said they had a buyer for my condo at Summer Bay. They wanted to know if I was interested in selling. They approved the buyer and indicated that the buyer had signed the Right of Recision document and paid the downpayment and the closing costs fee already. I asked a lot of questions, got as much info as I could and checked the BBB. They have a NR (No Rating) but have had no complaints in 3 years. So I went ahead and authorized a charge to my credit card for $1,850 for the estoppel papers and the other legal documents. I am supposedly waitng for the closing documents now. I almost fell for another scam but was ale to stop the credit card charge. I did threaten the guy I was talking with with the police and the PA State's Attorney General and he didn't seem the least bit nervous. I hope the butterflies in my stomach go away. I don't need any more debt.

I looked up Luxury Condos International with the BBB and they stated they do not have any information as to how long this company has been in business, so the complaint history means nothing. Even if a company just opened this morning, the BBB will say they have had no complaints in the past three years.

The BBB also warned that this company uses a maildrop as their address and could be located anywhere, including outside the US.