Any experience with Sierra Rentals and Resales??

[DeniseM]

Thank you Stefa. I'll certainly take this up with them, as it does concern me greatly.....

And you expect a Co. with an "F" rating to tell you the truth?

Seriously - you need to challenge this with your credit card Co. and get out of this before it's too late!

 

[MrDonald]

Same Exact "Offer To Purchase"

Wow, I'm glad I took the time to look into this "Seirra Rentals and Resales" further. I too was very excited that I could finally get rid of one of my time shares. My bubble was busted when they "required" the $995.00 transfer fee.
My wife was beside herself thinking I was going to entertain the thought of sending money up-front to sell our time share. To be honest, I am totally beside myself wondering how these companies continue to get away with "scamming" up-front fee's never to be heard from again.:annoyed: It is very frustrating.....

 

[gomezlor]

Good Sign?

In case anyone is interested, I saw that the charge for my closing costs cleared my credit card on January 28th and that it was put through by "Resorts Advantage". I called Sierra to see who Resorts Advantage is, and it turns out that they are the company that is holding the closing costs in escrow. After all the TUG members' good advice of checking the BBB, I looked them up and am happy to say that Resorts Advantage is not only rated as A+, but are also a Better Business Bureau Accredited company: http://www.seflorida.bbb.org/Business-Report/Resorts-Advantage-Ltd-Inc-27002444

Maybe I'm just being naive, but I can't imagine that a company with that kind of rating would rip me off. What are your thoughts?

 

[tapdancing]

Hey gomezlor
My wife and I are trying to decide if we are going to go with them. I requested like you did the seller and whether this is going to be sold or put on a list. When they respond to my questions then I'll go from there. I want to know if yours goes through, give us an update when you can.

 

[DeniseM]

tapdancing - this company has an "F" rating with the BBB - why would you even consider them?

 

[tapdancing]

Yea I know. But gomezlor was talking about a company that has an A+ rating - Resorts Advantage. But I called them and they said they didn't sell Timeshares or Fractional Ownerships, they referred me to another group - HSI.
Yea I am not doing anything, but i want to hear from gomezlor and wonder if it his went through. I just want to get out of this Timeshare.

 

[DeniseM]

Resorts Advantage is just the escrow/closing company and gomezlor is either very inexperienced with TS's, or actually is working for this company. She posted the positive info. about the escrow/closing company to attempt to offset the "F" rating that Sierra Rentals and Resales has.

I called Sierra to see who Resorts Advantage is, and it turns out that they are the company that is holding the closing costs in escrow.

 

[gomezlor]

For the millionth time

Yes, I am admittedly inexperienced with timeshares. No, I do not work for any of these companies. What do I need to do to put that idea to rest? Let me know and I'll be happy to oblige.

I'll be the first to admit that my experience with Sierra prior to now was far less than stellar, and that the F rating from the BBB was not a surprise. However, I'm wondering if there was not a change in management or something like that, because since this offer arose, they have been very responsive, and patient with my questions (and there have been LOTS of questions!).

For the sake of clarity, what I said before was that Resorts Advantage is holding the escrow for the sale. They have an A+ rating (check the BBB yourself if you want to), so it is leading me to believe that this is most likely a legitimate deal. I would find it hard to believe that a business that has an A+ BBB rating would be partnering in a scam.

And last but not least, Tapdancing - the way it was explained to me is that Sierra is partnered with a residence club that wants to purchase a one year complement (52 weeks) in each type of unit. So, as soon as 52 weeks have been put under contract for the type of unit you own, they can close and everyone gets paid. While they are waiting for that to happen, the money is held in escrow by Resorts Advantage. If the sale does not go through for any reason, the money held in escrow will be refunded to the seller. This is not a contract to advertise, it is a contract to sell.

Again, please let me know what I can do to once and for all confirm that I am not an employee of Sierra or any other resale place, and that I am just like the rest of you....someone desperate to sell my timeshare.

 

[DeniseM]

the way it was explained to me is that Sierra is partnered with a residence club that wants to purchase a one year complement (52 weeks) in each type of unit. So, as soon as 52 weeks have been put under contract for the type of unit you own, they can close and everyone gets paid. While they are waiting for that to happen, the money is held in escrow by Resorts Advantage. If the sale does not go through for any reason, the money held in escrow will be refunded to the seller. This is not a contract to advertise, it is a contract to sell.

This is completely unplausible, and will keep people stringing along forever....

Just out of curiosity, what is the timeshare and how much have they told you it will sell for?

 

[gomezlor]

Clarification

I should have clarified that they are trying to buy one 52 week complement of each type of unit at Velas Vallarta in Puerto Vallarta, MX specifically. I can only speak to what I have been offered for my 4 weeks in a 2 br Villa Plus Deluxe ($27,900/week, 24 years remaining).....I can't say what anyone else has been offered for single weeks or for different unit sizes.

Also, just to cover all my bases, I called Resorts Advantage. You have to ask for their accounting dept for someone to know what you're talking about as far as their relationship with Sierra. The person that I spoke to in accounting looked up the charge to my credit card and verified that they are providing escrow service for Sierra. They also said that the money is refundable to me if the sale does not go through for any reason.

 

[DeniseM]

I'm sorry, but you will never ever get that price. There was a 2 bdm. listed on ebay for $35 and it ended on Jan. 22nd with no bids.

Because of the economy, travel to Mexico is depressed and the resale market is flooded with Mexican timeshares. Right now there are 67 Mexican Timeshares listed on ebay - most of them are for sale for $1, and most of them have no bids...

Why would someone pay you $27,900 when the market rate is $1?

You have been swindled...

 

[Stefa]

The person in their accounting department has a record of a credit card payment you made to a completely different company? I find that hard to believe. This person also knows the terms of your agreement with the other company?

If you sign a contract with Sierra you only have a contract with Sierra. You do not have a contract with any other entity. Sierra is a disreputable company. I would advise anyone who receives a call from them to hang up. if you have already given them money, demand a refund and dispute the charges with your credit card company immediately.

 

[DeniseM]

Stefa - she was told that that is the escrow company that is holding her funds.

 

[Stefa]

Stefa - she was told that that is the escrow company that is holding her funds.

I still don't see why they would have a record of her credit card charge since she paid the money to Sierra. Unless the two companies were linked somehow in which case I wouldn't trust the escrow company either.

 

[dmurphys]

I have signed up too!

I should have clarified that they are trying to buy one 52 week complement of each type of unit at Velas Vallarta in Puerto Vallarta, MX specifically. I can only speak to what I have been offered for my 4 weeks in a 2 br Villa Plus Deluxe ($27,900/week, 24 years remaining).....I can't say what anyone else has been offered for single weeks or for different unit sizes.

Also, just to cover all my bases, I called Resorts Advantage. You have to ask for their accounting dept for someone to know what you're talking about as far as their relationship with Sierra. The person that I spoke to in accounting looked up the charge to my credit card and verified that they are providing escrow service for Sierra. They also said that the money is refundable to me if the sale does not go through for any reason.

Everything that gomezlor has experienced with the purchase offer, I have too. We have given Sierra payment as well and feel confident it is a legit deal. I truly feel this deal is on the up and up and will keep you posted on the outcome. If they can't buy the complete 52 weeks within the 60 - 90 day closing period we can get our money back... FYI - we are selling 1 week for 24 years at Velas Vallarta for a Studo Villa Plus.

 

[DeniseM]

Think logically here - why are they going to pay you thousands and thousands of dollars when they can't even sell them for $35 on ebay?

 

[tapdancing]

The person that I spoke to in accounting looked up the charge to my credit card and verified that they are providing escrow service for Sierra. They also said that the money is refundable to me if the sale does not go through for any reason.

That sounds good, but to me it looks like a lot of people from Sierra will verbally tell you things to put you at ease but no one can provide any kind of written documentation to back up what they are saying. This was how I got into this whole thing, they were talking a good game but when I looked at the contract it wasnt anywear to be found. I just fear for you and me too that when the 90 days is up and we ask for our money back, they'll deny making all those verbal statements.

Out of curiosity who is it that you normally speak to from Sierra, is it always the same person?

 

[TUGBrian]

Pleae note that many credit cards only have a 90 day limit for which you can file a dispute over a claim.

 

[chistuc]

Resorts Advantage

I send my maintenance fee for my timeshare to Resorts Advantage. They also are the company that I arrange with for my floating week each year. When I originally purchased my Right To Use at the Melia they handled the purchase. My feeling is that timeshare resorts use them for these purposes. I have had problems with them in the past with maintenance payments and not following the original agreement made at purchase.

 

[gomezlor]

Velas

dmurphys - I can't tell you how nice it is to have another person on here to back me up. I've really done my homework (even consulted an attorney) and feel that this is legitimate as well.

tapdancing - I started out with Jeff Beckens, but he has been out sick so I'm now working with Michael Johnson. Who have you been working with?

sfera - escrow, by definition, means that documents, real estate, money, or securities are deposited with a neutral third party (the escrow agent) to be delivered upon fulfillment of certain conditions, as established in a written agreement. In this case, Resorts Advantage is the escrow agent, or neutral third party, that Sierra is using for this transaction. This means that Resorts Advantage holds the funds and will only deliver them to Sierra upon fulfillment of the written agreement, which for this purpose is a sales contract.

 

[DeniseM]

Again - why do you think they are going to pay you $27K when they could buy on ebay for $35? Or buy one of the other 67 Mexico TS listed for $1? That defies logic.

Did you see post #44? -

I send my maintenance fee for my timeshare to Resorts Advantage. They also are the company that I arrange with for my floating week each year. When I originally purchased my Right To Use at the Melia they handled the purchase. My feeling is that timeshare resorts use them for these purposes.I have had problems with them in the past with maintenance payments and not following the original agreement made at purchase.

There are also 13 BBB complaints against Resort Advantage:

1 Making a full refund, as the consumer requested
10 Agreeing to perform according to their contract
2 Unassigned
13 Total

And here is a summary of Sierra's "F" Rating - note that the BBB says they are unlicensed!

Based on BBB files, this business has a BBB rating of F.
Reasons for this rating include:
Failure to obtain a required competency license.
BBB concerns with the industry in which this business operates.
BBB does not have sufficient information to determine how long this business has been operating.
Failure to respond to complaints filed against this business.
BBB does not have sufficient background information on this business.

 

[TUGBrian]

you can lead a horse to water, you just cant make him drink it.

 

[DeniseM]

you can lead a horse to water, you just cant make him drink it.

I'm usually a pretty good teacher, but I'm striking out here. It's too bad, because I don't think she's a shill. Unfortunately, I think she's a consumer who just got scammed out of $4K - but it's not too late - her CC was just charged and I think she could get her money back based on the Co's BBB rating, alone.

 

[T_R_Oglodyte]

you can lead a horse to water, you just cant make him drink it.

Or ... you can lead people to data but you can't make them think.

 

[Stefa]

Resorts Advantage holds the funds and will only deliver them to Sierra upon fulfillment of the written agreement, which for this purpose is a sales contract.

If Sierra doesn't get the money until the sale is final why can't they take the money out of the proceeds? There is no reason for the seller to put money into escrow.

Unless the contract specifically states who is holding the money in escrow and under what terms it will be released, you have no protection.