Might be a Scam

[Phamily]

I got an inquiry from a Broker stating that he could get me out of my timeshare but I would have to pay for the closing cost, transfer fee and the broker fee, does that sound like it could be a scam?

 

[chalee94]

probably.

if they called you out of the blue, almost definitely a scam.

if they ask for payment up front rather than after the timeshare has been transferred out of your name, then certainly a scam.

 

[Panina]

I got an inquiry from a Broker stating that he could get me out of my timeshare but I would have to pay for the closing cost, transfer fee and the broker fee, does that sound like it could be a scam?

Very Very Highly probable a scam. If the agent has a client who wants something specific they might be looking to make money with a flip. What you own and the name of the agent will help us give you a better answer. Even if agent is a known agent you still need to verify it is not someone making believe they are them.

 

[Phamily]

Very Very Highly probable a scam. If the agent has a client who wants something specific they might be looking to make money with a flip. What you own and the name of the agent will help us give you a better answer. Even if agent is a known agent you still need to verify it is not someone making believe they are them.

The agent's name is Karl Brodersen and is stating that he is from magical realty

 

[brianfox]

I got an inquiry from a Broker stating that he could get me out of my timeshare but I would have to pay for the closing cost, transfer fee and the broker fee, does that sound like it could be a scam?

He cold called you - why would he have assumed you were trying to get out of your timeshare? He's working off a list of timeshare owners. The list probably generated by and sold to him by your TS company. That in itself is not necessarily a scam, but in the vast majority of cases, this ends up being a scam where you are required to put money up front. Then a little bit more because of some problem that occurred. Repeat until you get wise. Then he will disappear.

 

[RX8]

I see you posted your free timeshare ad about 10 minutes before you posted the question about the cold call from the broker. Did he call you immediately after posting your free ad?

The name of the broker is a real licensed timeshare broker. Of course, someone could be using his name. You could always google and call him if you were interested. I think you should wait to see if you get any bites from your just posted ad. You are already paying for closing and transfer.

I am curious though as to how he is going to get you “out of” your timeshare. Is he simply going to try to find a buyer or does he have a side “exit” business he is peddling?

 

[Panina]

The agent's name is Karl Brodersen and is stating that he is from magical realty

This was on the BBB site
“BUSINESS ALERT: It has come to BBB's attention that the name and address of Magical Realty is being fraudulently used. If you are contacted by someone claiming to be a representative of this company please call 407-347-6515 to verify that you are dealing with an employee of Magical Realty. Read More “

https://www.bbb.org/us/fl/orlando/p...al-marketing/magical-realty-llc-0733-90203975

 

[Phamily]

I see you posted your free timeshare ad about 10 minutes before you posted the question about the cold call from the broker. Did he call you immediately after posting your free ad?

The name of the broker is a real licensed timeshare broker. Of course, someone could be using his name. You could always google and call him if you were interested. I think you should wait to see if you get any bites from your just posted ad. You are already paying for closing and transfer.

I am curious though as to how he is going to get you “out of” your timeshare. Is he simply going to try to find a buyer or does he have a side “exit” business he is peddling?

He reached out to me last week so I been reaching in ways to sell/get out of my timeshare and found this form today and that's when I posted the free timeshare.
He stating that he could get me out of my timeshare and had sent me a sell's brokerage fee agreement but I would have to pay the closing/transferring fee plus a brokerage fee of $1500 upfront. While reading thru the agreement it states that in an event of "Buyer's default" or defects that cannot be corrected I would forfeit 50% of the money I had paid.

 

[TheTimeTraveler]

He reached out to me last week so I been reaching in ways to sell/get out of my timeshare and found this form today and that's when I posted the free timeshare.
He stating that he could get me out of my timeshare and had sent me a sell's brokerage fee agreement but I would have to pay the closing/transferring fee plus a brokerage fee of $1500 upfront. While reading thru the agreement it states that in an event of "Buyer's default" or defects that cannot be corrected I would forfeit 50% of the money I had paid.

50% Buyer Default? Sounds very promising but don't place too much weight on this; especially if this is a scam.

You wouldn't pay someone $5,000 in advance to sell your home would you?

The only sure bet is to pay ZERO money upfront. Sell it yourself or find someone who doesn't charge any upfront fees.




.

 

[TheTimeTraveler]

One other very important thing to remember:

"A commission is truly earned and that is why it is called a commission".

Tell them to get out there and earn it and you'll pay him when the deal is 100% completed and the money is in your hands.




.

 

[brianfox]

He reached out to me last week so I been reaching in ways to sell/get out of my timeshare and found this form today and that's when I posted the free timeshare.
He stating that he could get me out of my timeshare and had sent me a sell's brokerage fee agreement but I would have to pay the closing/transferring fee plus a brokerage fee of $1500 upfront. While reading thru the agreement it states that in an event of "Buyer's default" or defects that cannot be corrected I would forfeit 50% of the money I had paid.

This is 100% scam material and there is no buyer. Run away.

 

[SteelerGal]

I purchased from Magical Realty via RedWeek. I would follow Panina’s advice to confirm.

 

[Phamily]

I purchased from Magical Realty via RedWeek. I would follow Panina’s advice to confirm.

So I called the 407-347-6515 number and was transfer to Karl the agent that I have been discussing with and he said that the money for the closing cost/transfer/brokers fee is not due until the closing paper work. I just want to make sure Magical Realty is not a scam. Thank you.

 

[LannyPC]

So I'm a little unclear here. What are you hoping to accomplish by using Magical Reality? And did MR know that you owned a TS?

 

[tmhcars]

I highly recommend MagicalRealty. I am in the process of closing on my 5th timeshare purchase with David Cortese. He not only has helped me acquire these and has acted as a true fiduciary as he has advised against me making several not well thought out purchases.

 

[TheTimeTraveler]

So I called the 407-347-6515 number and was transfer to Karl the agent that I have been discussing with and he said that the money for the closing cost/transfer/brokers fee is not due until the closing paper work. I just want to make sure Magical Realty is not a scam. Thank you.

Use the phone book (directory assistance) and find out if the phone number you dialed is truly Magical Realty. If it is different then I would then call that new number and ask for your contact Karl Brodersen to see if he is actually employed there at that phone number (assuming it is different than the one posted above).

Tread carefully and protect yourself. Be sure that you are actually dealing with the legitimate Magical Realty.




.





.

 

[elizabeth85]

probably.

if they called you out of the blue, almost definitely a scam.

if they ask for payment up front rather than after the timeshare has been transferred out of your name, then certainly a scam.

Yes, you are right. They are definitely a scam.

 

[TimeMachine]

I wish I had seen this thread before now. I just lost $2,000 in upfront fee money to Magical reality same scam. Someone finally answered the phone and said David Cortes sold the company and is under new ownership. They promised I would gedt out of my liki tikki but here it is two years later and I'm still getting manintenanc3 bills, and i'm out 2k

 

[TUGBrian]

we wish you would have found us before sending that money as well!

unfortunately getting it back is next to impossible. https://tug2.net/timeshare_advice/timeshare_scam_retaliation.html

 

[montygz]

I wish I had seen this thread before now. I just lost $2,000 in upfront fee money to Magical reality same scam. Someone finally answered the phone and said David Cortes sold the company and is under new ownership. They promised I would gedt out of my liki tikki but here it is two years later and I'm still getting manintenanc3 bills, and i'm out 2k

That's a sunk cost, water under the bridge, a $2,000 lesson.

Now that you have found TUG you can learn much more about your ownership and how to get rid of it or how to use it to full advantage.

 

[silentg]

Your Money May magically disappear. Try giving your timeshare away here?

 

[LannyPC]

Someone finally answered the phone and said David Cortes sold the company and is under new ownership....

...and probably running the same scam under a new name, which possible means that this "new ownership" is likely going to contact you again with the same promise.

 

[RX8]

I wish I had seen this thread before now. I just lost $2,000 in upfront fee money to Magical reality same scam. Someone finally answered the phone and said David Cortes sold the company and is under new ownership. They promised I would gedt out of my liki tikki but here it is two years later and I'm still getting manintenanc3 bills, and i'm out 2k

You just lost $2,000 but this started two years ago? I would bet that the phone number you have been calling is not (407) 347-6515. That is the number for the real Magical Realty taken from their website (created in 2013) and the BBB Profile. You weren’t dealing with Magical Realty but rather a scammer, or more precisely a criminal. If all this was two years ago your money is long gone like @montygz stated. Did you file a complaint with the BBB and the Florida Attorney General two years ago?