[2011] Luxury Capital Group

[Rainbowdreams]

Has anyone had experience with the Luxury Capital Group?

We just got a phone call asking if we were interested in selling our timeshare, and the call seemed different than all the rest of the calls we often get, so we listened. This company, based in Seattle, WA will tell you they are a property management company who buys timeshare weeks and points for big businesses who are looking for a tax writeoff rather than pay the government more taxes. They show you their new website (which doesn't have much information), show you how they are listed on Dunn and Bradstreet (www.dnb.com) and will tell you that D and B are monitoring them (as far as I know they only monitor credit, not business practices) and how they will be blacklisted if they are following questionable business practices. They said they do not deal with retail sales but only work with large companies who are buying up timeshare weeks and points to give away for charity, use for their business, clients, etc as a tax write off under a bill George W. Bush instated and Obama reinstated to help the timeshare industry. They said that these companies want to pay big dollars for our timeshares in Mexico. They dazzle you with the buying price (that no one else anywhere else would pay) and then tell you that they need to get a refundable deposit of $2000 for each property for legal costs, title and closing costs, yet they don't feel they need to provide a contract for this AND they want you to open up your checkbook and give them your checking account number & other info over the phone!!! Huge red flags for me! When we didn't go for it with the first guy, they put their intimating guy on the phone who was huffy when we didn't buy their story that we should trust them, mainly because of D and B and that they do 40 mil a year in business When I checked out the company it on the internet I saw they were incorporated 5/11, yet they said they had been in business for years. When confronted with this info they said they didn't know why it said that.

So, has anyone else had experience with these people? I am concerned that they are just another scam in the timeshare industry and don't want to see others get caught up in this. If they are on the level, their buy price would be reasonable, they would be willing to provide a contract, set up an escrow account and let us check things out with our attorney. It just sounds like bad news to me. Any feedback?

 

[RX8]

Company's website has many glowing testimonials but their website was created just a short time ago (May 19, 2011). BBB's file opened just on 8/10/11. If they are asking for money upfront, this is a scam.

You are correct, D&B doesn't monitor business practices. They may track generic payment trends but most of the verification that D&B does is by phone with the company itself! At any rate, since they just popped up in this world D&B will have little to no info anyway. Looks like they are using D&B to make themselves appear legit.

Their address they list in Seattle doesn't include a suite number. I found a number to call if one is interested in leasing at that office complex and one of the options to choose from was to set up a "virtual" office. The recording also stated that they will not release any information on current tenants so I was unable to verify if they indeed have an office. I will go out on a limb with that and say NO.

 

[aliikai2]

These companies come up with new names all the time

They start getting too much heat and they change names, change their bogus location, to another American city when in fact they are located in Mexico.

Has anyone had experience with the Luxury Capital Group?

We just got a phone call asking if we were interested in selling our timeshare, and the call seemed different than all the rest of the calls we often get, so we listened.

Strike one Anyone that calls you to buy anything you own out of the blue is trying to steal your money

This company, based in Seattle, WA will tell you they are a property management company who buys timeshare weeks and points for big businesses who are looking for a tax writeoff rather than pay the government more taxes.

Strike two
Think about for a minute, they are buying personal property that is non-deductable to reduce their tax bill??:hysterical:

They show you their new website (which doesn't have much information), show you how they are listed on Dunn and Bradstreet (www.dnb.com) and will tell you that D and B are monitoring them (as far as I know they only monitor credit, not business practices) and how they will be blacklisted if they are following questionable business practices.

They said they do not deal with retail sales but only work with large companies who are buying up timeshare weeks and points to give away for charity, use for their business, clients, etc as a tax write off under a bill George W. Bush instated and Obama reinstated to help the timeshare industry.

Strike three!!! Man the person that dreamt up that line must have been using some of that wacky tobacco as none of those are deductions from the IRS .

They said that these companies want to pay big dollars for our timeshares in Mexico. They dazzle you with the buying price (that no one else anywhere else would pay) and then tell you that they need to get a refundable deposit of $2000 for each property for legal costs, title and closing costs, yet they don't feel they need to provide a contract for this AND they want you to open up your checkbook and give them your checking account number & other info over the phone!!!

Huge red flags for me! When we didn't go for it with the first guy, they put their intimating guy on the phone who was huffy when we didn't buy their story that we should trust them, mainly because of D and B and that they do 40 mil a year in business

When I checked out the company it on the internet I saw they were incorporated 5/11, yet they said they had been in business for years. When confronted with this info they said they didn't know why it said that.

So, has anyone else had experience with these people? I am concerned that they are just another scam in the timeshare industry and don't want to see others get caught up in this. If they are on the level, their buy price would be reasonable, they would be willing to provide a contract, set up an escrow account and let us check things out with our attorney. It just sounds like bad news to me. Any feedback?

Good for you, you just saved whatever they wanted you to send them,

Greg

 

[GeorgeInNePa]

LOL

My father recently got a call from Corporate Acquisitions LLC, with pretty much the same story.

They offered $50,000 and needed $2000 "refundable", up front.

My sister and I both asked him if he actually thought that sounded kosher.

The scary thing is, he was actually giving it thought, instead of laughing at the guy and hanging up.

 

[PVSMITH]

They called me too

On 8/18/11, I got a call from Luxury Capital Corp, supposedly based in Seattle, and the woman asked me about 20 questions about my timeshare--how many bedrooms, what week, what maintenance fees, etc. Then on 8/30, I got a call from another woman, who asked the same set of questions to "verify" the information. Then she handed the phone to another salesman, who told me that they were ready to make a "firm purchase price quotation" of $15,300 for my $8,000 timeshare--"and this is not a firm offer and can be withdrawn." Supposedly the buyers were trying to take advantage of a "luxury tax" loophole created by Pres. Bush in 2006, which is why they are willing to offer twice what I was asking for the property.

They told me that I would have to provide the up-front fees to close the deal, which included the title search, the estoppels letter and the closing documents, which could be $2,000 or $3,000.

I said I wouldn't pay anything to them until I had a firm offer, as in any other real estate. Then the phone was passed to a "national manager" who said they had closed 1,200 time share deals during the last month and that I didn't understand how timeshare transfers worked. I asked him to send me all these steps in writing and I'd have my contract attorney look it over and see it if was legitimate. As of yet, I haven't received those documents.

When I asked them about their registration with the Secretary of State in Washington on 5/20/11, I was told this was "renewing their license" and they had been in business for 14 years.

I would like to hear from ANYBODY who has done business successfully with this group. When I asked them to provide three timeshare owners who had successfully sold to them, the manager said, "I'd pick out three who it worked for, and why should you believe them any more than you believe me?" Good point. And I never got the references.

Obviously, I don't intend to send them a dime unless I can verify how they do business. And as the previous post said, they go out of their way to stress that they have the D&B seal of approval. My business is reviewed each year by D&B and their review absolutely has nothing to do with business integrity and practices.

 

[rickandcindy23]

Because y'all bought timeshare, us too, these "companies" all think we are stupid.

So expect ridiculous claims and lies, anything to get your money. They want to take more money from you, they figure you will pay, and if you don't, they know someone will, and that is the end of the story.

There will be no buyer, no money coming your way. That makes these guys crooks. They are as devious and evil as a person robbing you on the street.

Do not give them a second of your time. Hang up! You didn't solicit this call, and therefore, it is a scam.

What bugs me is that many of these callers are related to the Postcard Companies, and they get our number through their eBay sales. You would be surprised.

 

[Stefa]

I would like to hear from ANYBODY who has done business successfully with this group.

Obviously, I don't intend to send them a dime unless I can verify how they do business.

One or two shills may show up claiming to have had success with this company, but you will not find anyone who has sold a timeshare through this company because they don't sell timeshares. They are in business to scam prople and that is all.

Don't waste your time hoping this will come through. It won't. They make their money by getting people to ignore their own better judgement in hopes of scoring big bucks from their timeshare.

 

[michelle_parker]

[SHILL ALERT!] I was able to sell my timeshare!

I wanted to comment on the postings because I feel that some people aren't fully aware on how to sell a timeshare. I have sold my Worldmark by Wyndham timeshare and believe me when I tell you that it was costly! To be able to sell your timeshare there are necessary documents and steps you have to follow. Selling a timeshare is not like selling a real piece of property. It's SHARED TIME. You have more than 400 people that share this time with you. You have to prove ownership and CLEAR title. If you were to go through a legal team to get this done, they won't touch a single paperwork without a retainer! I"ve done my research and according to ARDA in timeshare reale it costs between 10 to 30 percent of your timeshare's fair market value whether it's upfront fee, closing costs or broker fees. if you are looking to sell. I've done my research. Here's a link to a legal team that specializes in timeshare law:

WWW.ITSRETARDEDTOPAYUPFRONTFEES.COM

Selling a timeshare is difficult but with the right company it's definitely possible to do. Hope this helps!!

 

[siesta]

Just like clockwork, there is the shill.

 

[RX8]

WWW.ITSRETARDEDTOPAYUPFRONTFEES.COM

Well, the suspense was killing me - I had to click it. Website doesn't work.

 

[DeniseM]

Well, the suspense was killing me - I had to click it. Website doesn't work.

Looks like TUGBrian changed out the link...

 

[carl2591]

Luxury Capital Corp [SCAM]

I wanted to comment on the postings because I feel that some people aren't fully aware on how to sell a timeshare. I have sold my Worldmark by Wyndham timeshare and believe me when I tell you that it was costly! To be able to sell your timeshare there are necessary documents and steps you have to follow. Selling a timeshare is not like selling a real piece of property. It's SHARED TIME. You have more than 400 people that share this time with you. You have to prove ownership and CLEAR title. If you were to go through a legal team to get this done, they won't touch a single paperwork without a retainer! I"ve done my research and according to ARDA in timeshare reale it costs between 10 to 30 percent of your timeshare's fair market value whether it's upfront fee, closing costs or broker fees. if you are looking to sell. I've done my research. Here's a link to a legal team that specializes in timeshare law:

weblink deleted


Selling a timeshare is difficult but with the right company it's definitely possible to do. Hope this helps!!

WOW the effort to show how "ligit" this POC company really is.. must be hard to keep up the lie..

here the one i like the best

"Selling a timeshare is not like selling a real piece of property. It's SHARED TIME"

man this guy is a fricken genus.. "its shared time"... :rofl: not like selling a real piece of property... :hysterical:

just goes to show how much they know or care about "selling timeshare"

 

[Ricci]

WWW.ITSRETARDEDTOPAYUPFRONTFEES.COM

LOL..... I love it!!!!:rofl: :rofl:

 

[gcutcheon]

I wasa contacted by the same group by an initial questioner who asked all the pertinent questions concerning the unit i own in france. I was contacted by a Jeremy Pride (real name??) I doubt it. who then gave the company name address and phone #.He then gave the same spiel you received and offerred me 11,600 for a timeshare i bought for 2500 and wanted me to send 2500 for the closing costs etc. He wanted it right then wothout any paperwork for me and just a recorded conversation on his end to verify it. I then hung up on him and he called back and left a message. His whole conversation sounded like a used car salesman. Every response from him was (Fantastic!) I asked about who would be the escrow company and he mentioned the D&B business and kept pressing for the 2500 and wanted to know how I would pay for it. These guys should be behind bars. How do we get them there. I'm sure there are some out there who are falling for this. I tried selling my unit before and the hangup was the lawyer in France who wanted a fair amount for doing the transfer so I know it costs but not the way lLuxury Capital Group is doing it.

Has anyone had experience with the Luxury Capital Group?

We just got a phone call asking if we were interested in selling our timeshare, and the call seemed different than all the rest of the calls we often get, so we listened. This company, based in Seattle, WA will tell you they are a property management company who buys timeshare weeks and points for big businesses who are looking for a tax writeoff rather than pay the government more taxes. They show you their new website (which doesn't have much information), show you how they are listed on Dunn and Bradstreet (www.dnb.com) and will tell you that D and B are monitoring them (as far as I know they only monitor credit, not business practices) and how they will be blacklisted if they are following questionable business practices. They said they do not deal with retail sales but only work with large companies who are buying up timeshare weeks and points to give away for charity, use for their business, clients, etc as a tax write off under a bill George W. Bush instated and Obama reinstated to help the timeshare industry. They said that these companies want to pay big dollars for our timeshares in Mexico. They dazzle you with the buying price (that no one else anywhere else would pay) and then tell you that they need to get a refundable deposit of $2000 for each property for legal costs, title and closing costs, yet they don't feel they need to provide a contract for this AND they want you to open up your checkbook and give them your checking account number & other info over the phone!!! Huge red flags for me! When we didn't go for it with the first guy, they put their intimating guy on the phone who was huffy when we didn't buy their story that we should trust them, mainly because of D and B and that they do 40 mil a year in business When I checked out the company it on the internet I saw they were incorporated 5/11, yet they said they had been in business for years. When confronted with this info they said they didn't know why it said that.

So, has anyone else had experience with these people? I am concerned that they are just another scam in the timeshare industry and don't want to see others get caught up in this. If they are on the level, their buy price would be reasonable, they would be willing to provide a contract, set up an escrow account and let us check things out with our attorney. It just sounds like bad news to me. Any feedback?

 

[gcutcheon]

I intend fo file a complaint with the attorney general in Washington on this company.

Has anyone had experience with the Luxury Capital Group?

We just got a phone call asking if we were interested in selling our timeshare, and the call seemed different than all the rest of the calls we often get, so we listened. This company, based in Seattle, WA will tell you they are a property management company who buys timeshare weeks and points for big businesses who are looking for a tax writeoff rather than pay the government more taxes. They show you their new website (which doesn't have much information), show you how they are listed on Dunn and Bradstreet (www.dnb.com) and will tell you that D and B are monitoring them (as far as I know they only monitor credit, not business practices) and how they will be blacklisted if they are following questionable business practices. They said they do not deal with retail sales but only work with large companies who are buying up timeshare weeks and points to give away for charity, use for their business, clients, etc as a tax write off under a bill George W. Bush instated and Obama reinstated to help the timeshare industry. They said that these companies want to pay big dollars for our timeshares in Mexico. They dazzle you with the buying price (that no one else anywhere else would pay) and then tell you that they need to get a refundable deposit of $2000 for each property for legal costs, title and closing costs, yet they don't feel they need to provide a contract for this AND they want you to open up your checkbook and give them your checking account number & other info over the phone!!! Huge red flags for me! When we didn't go for it with the first guy, they put their intimating guy on the phone who was huffy when we didn't buy their story that we should trust them, mainly because of D and B and that they do 40 mil a year in business When I checked out the company it on the internet I saw they were incorporated 5/11, yet they said they had been in business for years. When confronted with this info they said they didn't know why it said that.

So, has anyone else had experience with these people? I am concerned that they are just another scam in the timeshare industry and don't want to see others get caught up in this. If they are on the level, their buy price would be reasonable, they would be willing to provide a contract, set up an escrow account and let us check things out with our attorney. It just sounds like bad news to me. Any feedback?

 

[CarreraS4]

[SHILL ALERT!] Carl2591

It's interesting to read comments from people that never sold a timeshare before. Carl2591 can't even spell.. WOW!

Listing companies absolutely will NOT sell your timeshare. There are millions of timeshareowners trying to get rid of their timeshare and they don't sell. It appears to me that most of these people have dealt with listing companies. Bottom line is it's very important to do your due diligence and rely on hard facts so you can make a wise decision on how you want to get rid of your timeshare, You have options but know that even if you were to walk away with no profit and give your timeshare away, YOU STILL WOULD HAVE TO PAY UPFRONT!! call Transferamerica or TransferSmart for example! Here's something I've read which will answer some of your questions:

How to Get Rid Of a Timeshare
Travel & Leisure > Destinations | By: [deleted] (08/06/11) Views: 7--------------
When you are buying timeshares, it is an easy process and the prices are made as attractive as possible. Getting rid of a timeshare however is another story all together.

When you are buying timeshares, it is an easy process and the prices are made as attractive as possible. Getting rid of a timeshare however is another story all together. It is not as easy as buying and it might take quite a long time. It might be even harder for people that have no idea how to get rid of a timeshare. The reason why this is so difficult is that the number of sellers is more than the buyers. There are pros and cons of owning a timeshare and for some they end up being a liability rather than a beneficial venture. Too many sellers and few buyers will definitely delay the selling process. Most owners do not have an idea how to get rid of a timeshare.

Another reason why selling of timeshares becomes difficult is the fact that timeshares depreciate in value. Many people base the timeshare value on what they paid for it initially. What they fail to understand is that the value of timeshare is zero. Without having someone that is knowledgeable about a timeshare and knows how to get rid of a timeshare, this process can be very difficult. The time taken before selling timeshares is a long process making timeshares an unreliable source of funds. The sale of a timeshare requires escrow closing services and it also requires approval by the resort before the transfer. This process can take a long time, sometimes up to half a year. How to get rid of a timeshare is therefore made difficult by the time constraint.

Finding the right company to get rid of your timeshare is the first solution. There are so many out there offering this service and purporting to know how to get rid of a timeshare in no time. Sellers should beware that not every service provider can actually be able to help them out. Most of them are ineffective and can actually put you in a worse position than before. When you are looking into how to get rid of a timeshare, there are ways that you should avoid. Avoid a timeshare listing company. They claim to have a lot of buyers and they will get you a good deal. No listing company will be able to sell your timeshare. Using brokers is not a safe way of how to get rid of a timeshare. Most of them say that they have a buyer for you. This is a gimmick used by fraudsters that end up defrauding thousands of sellers of their hard earned cash.

The best way on how to get rid of a timeshare is by using a company that takes direct ownership of the timeshare. The companies are able to work out deals with major time share companies that give them unique privileges to return the timeshares so that the companies can sell them again. Other times the timeshares are sold to organizations that take them up for their staff to use for extended stays.

 

[CarreraS4]

[SHILL ALERT!] You Bloggers Have Completely Altered My Post!

[Advertising - DELETED - DeniseM Moderator]

[BTW - This is not a Blog - A Blog is more like a journal - this is TUG - The Timeshare Users Group - a BBS.]

 

[DeniseM]

CarreraS4 - You are obviously a shill for this company - don't bother.

The BEST way to get rid of a timeshare is to GIVE IT AWAY YOURSELF - we do it all the time here on TUG.

Buh - Bye!

 

[michelle_parker]

[SHILL ALERT!] Do Not Believe These Bloggers!!!

Anyone can pit anything on the internet! Just as my frien CarreraS4 had mentioned, you guys altered the post I did yesterday.. WOW too much time in your hands huh? GIVE solid facts! Selling a timeshare is NOT easy. Show me one person that sold thei timeshare at fair market value with a listing company and paid NOTHING upfront. STOP this NONSENSE!

 

[DeniseM]

Anyone can pit anything on the internet! Just as my frien CarreraS4 had mentioned, you guys altered the post I did yesterday.. WOW too much time in your hands huh? GIVE solid facts! Selling a timeshare is NOT easy. Show me one person that sold thei timeshare at fair market value with a listing company and paid NOTHING upfront. STOP this NONSENSE!

Hi again Michelle - nice that you and your co-worker are team-tagging us.
:rofl:

TUG NEVER recommends upfront fee companies - like yours - we recommend giving away your timeshare YOURSELF for FREE.

You are way over your head here - don't bother.

 

[RX8]

Anyone can pit anything on the internet! Just as my frien CarreraS4 had mentioned, you guys altered the post I did yesterday.. WOW too much time in your hands huh? GIVE solid facts! Selling a timeshare is NOT easy. Show me one person that sold thei timeshare at fair market value with a listing company and paid NOTHING upfront. STOP this NONSENSE!

You are right, anyone can post anything. Just like YOU pretending that you are a timeshare owner who was happy to pay through the nose upfront to sell your timeshare.

 

[michelle_parker]

[SHILL ALERT!] Team tagging? I DON't THINK SO

I don't work for the company nor did I mention I sold my timeshare through this organization but I'm giving facts that people should know in getting rid of a timeshare unlike you bloggers that haven't done it. Why would someone be happy to pay upfront fees? Of course that wasn't the case but it was something I've done and was able to get rid of mine. Again, instead of bashing people and putting NONSENSE on your blogs, State FACTs.

YOU can't give your timeshare away for free! You have to pay for transfer of ownership, You need clear title and proof of ownership. There's fees for everything! Who wants to pay? Nobody does! Timeshare is a heaache and a never ending debt. From the minute you bought it you had to pay and even when you get rid of it, you still have to pay.

 

[DeniseM]

I don't work for the company nor did I mention I sold my timeshare through this organization but I'm giving facts that people should know in getting rid of a timeshare unlike you bloggers that haven't done it. Why would someone be happy to pay upfront fees? Of course that wasn't the case but it was something I've done and was able to get rid of mine. Again, instead of bashing people and putting NONSENSE on your blogs, State FACTs.

YOU can't give your timeshare away for free! You have to pay for transfer of ownership, You need clear title and proof of ownership. There's fees for everything! Who wants to pay? Nobody does! Timeshare is a heaache and a never ending debt. From the minute you bought it you had to pay and even when you get rid of it, you still have to pay.

Michelle - You CAN give your timeshare away for free. We even have a forum for it, and the paperwork to transfer it can be done for about $100 - I've done it TWICE!

There are NOT fees for everything - you just want people to believe that so they will pay your company big bucks.

Here is some helpful advice: When you are digging a deep hole - stop digging....

 

[michelle_parker]

[SHILL ALERT!] DENISE you answered it ALL!

EXACTLY just to give your timeshare away with NO PROFIT you still have to pay! READ what you justb posted! I didn't mention any dollar amount. None of the people that are on here want to give their timeshare away for NO PROFIT. Explain TRANSFER AMERICA and TRANSFER SMART that charge fees to take the timeshare off your hands. Denise you're funny. You said it! $100 dollars for no profit.. still out of pocket expense wheter it's a penny or a million dollars. COME ON!

 

[DeniseM]

Michelle - No one believes you here.

We are well-aware that your employer, Luxury Capital Group, charges a $2,000 UPFRONT FEE and then does not sell the timeshare.

The are only in it for the upfront fee - a very common PLOY.

You are preaching to the choir here - give it a rest.