Approved Property Management

[PanchiVilla]

I was approached by Approved Property management about selling my Vacation Club membership at Sandos Playacar. They appear to have found a buyer and and engaged the services of Bellwether Capital Group who have the money in escrow.

Has anyone delt with either of these companies? The escrow fees are $2700 with I am to pay upfront before they release the money which includes the $2700 for the fees. I am then supposed to send APM a cheque for 5% for their fee.

Any advice?

 

[LannyPC]

I was approached by Approved Property management about selling my Vacation Club membership at Sandos Playacar. They appear to have found a buyer and and engaged the services of Bellwether Capital Group who have the money in escrow.

Has anyone delt with either of these companies? The escrow fees are $2700 with I am to pay upfront before they release the money which includes the $2700 for the fees. I am then supposed to send APM a cheque for 5% for their fee.

Any advice?

Yes! My advice is to avoid these scammers like the plague! As a seller, you should not have to put ANY mo ey upfront to facilitate a sale. Once they have your money, they will not sell your membership or do anything else for you except give you the runaround.

 

[timeos2]

X2

They called you. It's a sure bet its no deal for you only for them.

 

[PanchiVilla]

So even if the money is with an escrow company? The escrow company is Bellwether Capital Group. They look legit.

http://www.bellwhethercapitalgroup.com/

 

[Rent_Share]

The requirement to send $ 2,700 up front is a total scam

The use of a legitimate escrow company doesn't give you any leverage if the underlying agreement says the other party is entitled to the 2700 whether the sale transpires.

Have them send you the total agreement and carefully read all of the details

People arrive here daily asking the same questions

This is a variation on the oldest scam in the timeshare resale, ask for funds to cover a tittle search or other "refundable" costs associated with a non existent buyer

 

[RX8]

Scam

So even if the money is with an escrow company? The escrow company is Bellwether Capital Group. They look legit.

http://www.bellwhethercapitalgroup.com/

Don't let a website alone make you think they are legit. The state of Indiana has NOTHING in their business search of a company by the name of Bellwhether. There is NOTHING on the web for this Bellwhether in Indiana. There appears to be many legit Bellwhether Capital companies across the U.S. and I would say that this scam did that on purpose to confuse anyone researching them.

BBB just opened a file on them April 10, 2012 and has an alert on this company because they have failed to respond to BBB's request for information.

http://www.bbb.org/indianapolis/bus...er-capital-group-in-indianapolis-in-90012333/

Run away.

 

[LannyPC]

So even if the money is with an escrow company? The escrow company is Bellwether Capital Group. They look legit.

http://www.bellwhethercapitalgroup.com/

Why would you, the seller, need to put any money into escrow? If this deal is legitimate, any money or commission to be paid out to any middle men, resale brokers, taxes, etc. would come out of the proceeds of the sale.

Think about it. If you were selling your car (which is probably worth a lot more than your timeshare/club membership is right now), would you put any money into escrow?

 

[PanchiVilla]

Thanks for the replies everyone.

I did find something with the BBB that stated that the company had no office at their posted location. Did the google street view thing and sure enough, not even a building at that location. We called them back and asked them to confirm their address. When we told them that the BBB said they didn't have an office at that location... dead silence.

They haven't called back.

 

[RX8]

Alert Alert Alert

Now that the Bellwhether Capital scam has been "outed" I would think, thanks to TUG, that their business is going to take a hit. They are sure to disappear and try to reinvent themselves under a new name.

People, be on ALERT and don't fall for these lying sacks of $@!&

p.s. sorry for my cartoon swearing.

 

[MCMColorado]

Another Approved Property Management question!

I am glad to have TUG as a place to clarify what is going on! I too have had an outrageous offer to buy my timeshare in Mexico.

Any updates on this program? I agree it sounds like a scam. I would like to communicate with someone about timeshares! I would like to take action on either selling mine or learning how to exchange it for other places of interest to me.

Any advice is very much appreciated!!

 

[Passepartout]

I am glad to have TUG as a place to clarify what is going on! I too have had an outrageous offer to buy my timeshare in Mexico.

Any updates on this program? I agree it sounds like a scam. I would like to communicate with someone about timeshares! I would like to take action on either selling mine or learning how to exchange it for other places of interest to me.

Any advice is very much appreciated!!

MCM, Welcome to TUG. First any outfit who cold calls you and says they have a buyer is outright lying. There are just too many TSs being offered free or dirt cheap for anyone to need to hire a broker to fine one for sale. Red flag! Next red flag: anyone who wants upfront money. Then they are not only lying, but scamming as well.

OK, so now to your questions. Which is it, do you want to sell yours, or do you want to learn about exchanges? As far a selling, Mexican TSs have little or no value in today's market. To see what ones like yours sell for, sign on to eBay, enter your TS in the search window. When it return some, look down the left side for 'Completed Auctions'. Click there and it will tell you what units like yours have sold for. Don't be surprised if it is a low number- and that some auctions closed with no bids. It can be listed for sale, rented or given away here on TUG.

So that brings us to exchanging. Which exchange company does your resort exchange with? Probably RCI, or II, which are the largest. You will have to be member of that exchange. Then they will have a website that will show you what resorts you can exchange into. Generally, you make a reservation at your home resort (choose a 'good' school holiday or summer week) then 'deposit' it with the exchange (call them for details on how), then select away from units eligible (similar size, season, quality) as yours.

Best wishes, look around TUG. Today, since timeshares have little monetary value, their true value is in their use in providing great vacations for your family.

Jim Ricks

 

[Aimfair]

Approved Property Management - Office = Warehouse that is For Sale

We looked up the office address for Approved Property Management and found on Google Earth that the building is a warehouse appearing structure that is for sale. The image date was in March 2012. http://www.aimfair.com/T-PSMay222012+Approved
Definitely stay away....