First Fidelity Finance Has a buyer for me

[SunnyandSher]

Anyone had any dealings with this company out of Atlanta, GA? Everything seems legit, but for obvious reasons I am skeptical. I didn't have my Timeshare for sale, but they had a client that was looking and my criteria met it. My biggest issue is having to pay a termination fee to timeshare company which is about $4,000 and it has to be put in an escrow account so that Fidelity & buyer knows we have the right to terminate it and timeshare company has approved the purchase. Thoughts please and thanks.

 

[dioxide45]

Anyone had any dealings with this company out of Atlanta, GA? Everything seems legit, but for obvious reasons I am skeptical. I didn't have my Timeshare for sale, but they had a client that was looking and my criteria met it. My biggest issue is having to pay a termination fee to timeshare company which is about $4,000 and it has to be put in an escrow account so that Fidelity & buyer knows we have the right to terminate it and timeshare company has approved the purchase. Thoughts please and thanks.

What about it seems legit? Seems like a scam all the way. Run, avoid and don't do business with this company. They often use names of legit companies (Fidelity) to make them seem legitimate. Any company that asks for an upfront fee of this magnitude, not matter what it is called, is a scam. Do you really think that money will be placed in escrow?

 

[HudsHut]

Welcome to TUG. I'm very glad you found us.

Please do not take any further calls from this company. It is a scam.
This is called an "upfront fee". The company will take your $4,000 and you will never hear from them again. You will still own your timeshare.

No legitimate company calls you out of the blue with an offer to buy your timeshare. There are thousands of timeshares on ebay, and here on TUG for $1 or less.

Repeat: do not send them a single penny! do not answer another call from them.

 

[TUGBrian]

you already know this is a scam =)

http://tug2.net/timeshare_advice/timeshare_company_legitimate.html

 

[Talent312]

Run for the hills! We've seen this show before.

If your TS had the kind of value that would interest a legitimate buyer, they would handle it like a normal R/E transaction and take their commission from the proceeds of the sale, not up-front. They wouldn't be making cold-calls to owners who've have not shown any interest in selling -- typically done by the owner taking some initiative to determine it's resale value and contacting a legitimate agent or internet sales-service (like here on TUG).

The sad fact is that these peep are _not_ licensed R/E brokers, they are scam artists, who prey upon the naive and unsuspecting. When they get your $$, suddenly their mysterious buyer will back-out but they'll "look" for another (they only promised to "market" your TS), and then become impossible to contact. They may have you sign a power-of-attorney or deed-in-blank to make you think it's going to happen. Then, you will own a TS with a clouded title, and $4000 less in the bank.

As another poster said, to see the true value of your TS (what they are selling for), do some research of your own. Check redweek.com and closed-auctions on e-bay. Legitimate sales are made from those who've listed a TS for sale is how it's done, not by making cold-calls to those who haven't.

Contact your state's Attorney General's Consumer Fraud Department -- look for their website.
They will likely have a team of attorneys dedicated to rooting out this sort of fraud.
.

 

[pedro47]

Scam! Scam! Why should you pay $4,000 to sell your ts? SCAM!!!SCAM!!! Check them out with BBB and their telephone # and address.

Welcome to TUG.

 

[LannyPC]

My biggest issue is having to pay a termination fee to timeshare company which is about $4,000 and it has to be put in an escrow account so that Fidelity & buyer knows we have the right to terminate it and timeshare company has approved the purchase.

Wow, these scammers are coming up with fresh new lines all the time. A temination fee?!?!

 

[csxjohn]

Finding TUG is only half the battle. Believing us is the other half. I'll repeat what was said above.

This is a scam!!

 

[VacationForever]

Scam! Scam! Why should you pay $4,000 to sell your ts? SCAM!!!SCAM!!! Check them out with BBB and their telephone # and address.

Welcome to TUG.

BBS is all BS. If a business pays to be a member, then it will almost always get A+. I would not ask anyone to check out BBB. But yes, this is a scam. No brainer.

 

[Passepartout]

We are overjoyed that the OP posted here first! Welcome to TUG! We have seen these scams for years, and the perpetrators have preyed on thousands.

You know that anything that seems too good to be true, usually is. No exception here.

No matter how trustworthy these folks seem, they are out to steal your money. Like your mommy telling you to not accept rides from strangers, here's another truism. NO ONE WILL EVER COLD CALL YOU TO GIVE YOU MONEY!

Jim

 

[presley]

Everything seems legit, ...

In what way?

Reasons why this sounds totally BOGUS:
1.) Your timeshare wasn't for sale.
2.) How do they know you even own a timeshare?
3.) Why would you need to pay a $4,000 termination fee? There is no such thing as that.
4.) Name of company sounds like a finance company. Why are they doing cold call resales?
5.) How does putting $4,000 in an escrow prove that you have the right to terminate your timeshare?
6.) Why go through all this hassle when they can buy timeshares for nothing on Ebay or in the Tug marketplace?

 

[icydog]

I'm afraid the original poster will check with Fidelity, a most certainly bogus name by the way, and the shady salespeople will tell him we are full of baloney.

I have told people they are being scammed... I have even shown them in black and white they are being scammed--- but they continue with the deal.

An example is this. It happened to me two years ago. A couple I knew bought a Dominican timeshare. They paid an outrageous amount, around $50,000 I believe. They had the promise of guaranteed rentals (to others just dying to use their timeshare)! Of course, it was not in the contract but these two believed the charming, and unscrupulous, sales people

I told them to renege immediately and they, presumably, thought I was jealous-- or stupid--or full of myself--- and they kept the timeshare.

Now that they have found that their timeshare is pretty much worthless, they have stopped talking to me completely. Like it was my fault. Or maybe they were embarrassed. All I know is they don't pick up the phone for me anymore and I have given up trying.

In the case of the OP, we are not lying. We are not BSing you. We are telling you the truth from many years of experience and having known of many others who fell for the same scam. Walk do not run away from these scam artists..

 

[BevL]

Sounds too good to be true, doesn't it? And we all know what that means. But you've heard that already.

I really just posted to say I love your user name - really cute.

 

[SunnyandSher]

Fidelity has buyer for Timeshare

Thank you all for your responses! Honesty is appreciated! Planned to talk to timeshare company tomorrow about 'termination' fee, but won't be selling it this way. Guess we'll join everybody else and post it here to sell.

 

[dioxide45]

Thank you all for your responses! Honesty is appreciated! Planned to talk to timeshare company tomorrow about 'termination' fee, but won't be selling it this way. Guess we'll join everybody else and post it here to sell.

Don't talk to them. They will try to convince you it is not a scam and that everything you heard here is wrong. Don't talk with this company. If by "planned" you mean you no longer have plans to talk with them, then good. If by "planned" you mean you are still going to, then don't, just don't. No good will come from talking with them.

 

[csxjohn]

... Walk do not run away from these scam artists..

I know you meant to say, RUN, don't walk away.

 

[vacationhopeful]

Don't talk to them. They will try to convince you it is not a scam and that everything you heard here is wrong. Don't talk with this company. If by "planned" you mean you no longer have plans to talk with them, then good. If by "planned" you mean you are still going to, then don't, just don't. [B]No good will come from talking with them[/B].

Do you recall HOW you ended up with this timeshare? Half truths. Lies. Pressure. Just one more added on/promise/freebie. Holding you hostage for HOURS!

If they are coming to your HOME ... they won't leave. Do you actually think if you say, "I will think about it and call you in the morning" that they will head for the door? Do you have the willpower to call your police to REMOVE them from your living room? Do you even want them in your home or know where you live?

These sales persons LOVE coming to your home .... behind closed doors, few witnesses and nice sofas to sit on. I have had "guests" like that who go to use the bathroom and I find them going thru my bedroom drawers ... really. I had a rug sales man come to an empty small storefront to show me carpet samples .. he was very unhappy as I had NO chairs to sit on .. I wanted to see his samples and get a per yard installed price ... he wanted to "charm and sell me" and his hard sell routine was limited to his standing there without seeing my personal furniture and doing the famous "not leaving, just one last offer" or calling the boss for inventory clearance specials ... he had to stand and juggle his sample cards. I think he told me inside of 5 minutes, he had another appointment ... as he was there to measure my home and I wasted his time... as the installed price had to be based on WHERE the carpet was being installed.

So be prepared to call the police ... to get them out of your house. Do not think that having your husband or a friend there will be a threat to them ... THEY ARE CON ARTISTs ... they love being behind your closed doors... they ONLY fear being behind doors which have bars on them.

 

[tschwa2]

I think when SunnyandSher said s/he was going to talk to the timeshare company about the termination fee, s/he meant the timeshare management company of the s/he owns, not the resale offer people.

My guess is that it is a Mexican timeshare and there is some kind of transfer fee and it may be quite high. The scam resale companies will try to insist these fees have to be paid by the owner but will be reimbursed at the close of the sale. This is a lie. There is no reason these and any other fees (taxes, etc) can't be paid directly by the buyer. If you really had a buyer who was willing to pay the high fee offered (which there really isn't anyone who will be willing to pay that much for a resale), there would be no reason for you to pay anything, you could let it all come out of the proceeds of the sale.

 

[Passepartout]

Thank you all for your responses! Honesty is appreciated! Planned to talk to timeshare company tomorrow about 'termination' fee, but won't be selling it this way. Guess we'll join everybody else and post it here to sell.

I think the OP (reference above) may have been referring to talking to their own timeshare management co. - not the scammers.

My takeaway from the beginning was that the TS was not for sale and this unsolicited 'offer' planted the thought of selling it. This 'termination fee' might be a payoff of an outstanding loan. We can't know the whole story without some dialog with the OP.

If the TS is not paid off, free and clear, it's virtually impossible to sell. There are a few, hotel based luxury TSs that will sell like 'real' Real Estate, but they are rare.

Good Luck with whatever your goal. Bottom line so far, have no dealings with this Fidelity outfit, or whatever name they morph into. They only want your money, not your timeshare.

Jim

 

[LannyPC]

Guess we'll join everybody else and post it here to sell.

Start by reading this sticky:

http://tugbbs.com/forums/showthread.php?t=44


Also, remember there are other reputable websites to advertise such as Red Week, E-Bay, and My Resort Network.

Anyway, I'm very glad you found TUG before losing thousands of dollars to this scammer.

 

[SunnyandSher]

Update to Fidelity purchase

Yes, I was referring to speaking with my timeshare company, Diamond. And I did. They said there is a $250 transfer fee and nothing else. I did speak with Fidelity financial person too and really drilled them about this whole deal. They did say to check fine print about a termination fee that is required by Diamond, not them. Of course they had all the answers as to why this isn't a scam - blah, blah, blah. But you're all right - they are professionals, and even though I am too, I'm not of 'criminal mind.' Thanks everyone!

 

[jimmy44]

RUN

I WOULD RUN AND NOT TALK TO THEM ANYMORE!

 

[DeniseM]

There is a simple rule of thumb for ALL timeshare offers that pre-empts everything else:

If there is a high upfront fee, it is a scam, and there is no need to ask any other questions, or get further involved.

*Now that you have engaged these people, you are going to be placed on the call list as someone who is a potential mark, and you can expect to receive many more phone calls from other scammers. There is no upside to talking to them. Use your caller ID and answering machine and don't talk to these people AT ALL - don't answer the phone!

 

[icydog]

I know you meant to say, RUN, don't walk away.

Hahaha. I never saw that mistake!! That's so funny!!!! Hahahahaha!!!

 

[TheTimeTraveler]

There is a simple rule of thumb for ALL timeshare offers that pre-empts everything else:

If there is a high upfront fee, it is a scam, and there is no need to ask any other questions, or get further involved.

*Now that you have engaged these people, you are going to be placed on the call list as someone who is a potential mark, and you can expect to receive many more phone calls from other scammers. There is no upside to talking to them. Use your caller ID and answering machine and don't talk to these people AT ALL - don't answer the phone!

Denise; I would say if there is "any" upfront fee that it is a scam.

One should never have to pay any fee to sell their home, or timeshare. The Broker works for his/her money and is paid a commission or fee upon the actual sale of the property and not a minute sooner.




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