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squid711

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This company said they have a buyer at an agreeable price for my Mayan Palace timeshare. I signed a letter of intent. Then they sent me a contract which said all transactions would be done through the Banco de Mexico. ( which is like saying you do your banking at The Federal Reserve) There was a non disclosure, penalty for forfeiture of 50% of sale price + commission fees and waiver of trial clause. Signature did not match names and they refused to notarize it. Even though they did not want money up front, it was obviously some kind of scam.
Anybody know how this scam plays out?
 

DeniseM

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The scammers are getting a little smarter. They know that timeshare owners know they shouldn't pay an upfront fee, so the scammers wait until they have you hooked, and then half way through the transaction, they come up with the bogus fee.

As soon as you pay them, they will disappear with your money.

Although we have had a few gullible people who paid fees multiple times, despite being advised that it was a scam.

A few things to remember:

-You should not pay any fees - reputable brokers take ALL their fees out of the proceeds.

-If they tell you the fees will go into escrow and you will get a refund - this is a scam too.

-Never accept a check, and refund part of the money - this is a scam too.

-Unfortunately, most timeshares in Mexico have no resale value, so anyone who approaches you with a nice offer is a scammer.

-If it's too good to be true - it's not true!
 
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squid711

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thanks, I can see how they could use those clauses to intimidate someone into paying.
 

TUGBrian

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its crazy, i see sites now that literally put in huge bold faced letters "NO UPFRONT FEES" on their site, yet still charge an upfront fee when it comes down to it.

its super simple to protect yourself from one of the biggest mistakes in the timeshare industry, just follow the rule and never do business with a company that wants to get paid up front for services!
 
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