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Matirx IIG-another scam?!

Mystic

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My neighbor is trying to sell her timeshare and was contacted by Matrixiig.com
who offered her well above asking price and with the story they pick these up for executive companies. They will take 7% after closing so no upfront costs. A google search only brings up the website that was copyrighted in 2011.

At least she is wary of it. I imagine they either send a rubber form of payment to you first so you send them the commission or they start requesting monies for other unforeseen problems.

Anyways looks like another scam!

Gail
 

timeos2

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That is one of the well known scam stories told to hook the owner into paying to make a "sale" that doesn't exist. You have wisely advised them to ignore this group & make arrangements to sell/give away the timeshare if that is their goal, haven't you? If so thats about all you can do except to repeat DON'T DEAL WITH ANY GROUP THAT CONTACTS YOU WITH A "SALE" THAT REQUIRES YOU PAY!

Hope they listen to you or they will be out the money.
 

Mystic

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Interestingly the Matrix page states "With no upfront fees (no listing fees, no appraisal fees), we make sure your vacation ownership is sold, not just listed."
They must be following the BB's warnings here and rewording their pitches.
My neighbors are communicating with them and Matrix sent them a letter stating their 7% commission after the sale. Just now a letter (or contract) stating they are liable for upfront fees and and the commission even if the deal falls through. Getting a little aggressive now.
The neighbors are now very aware it is a scam. As all this communication comes out of Colorado is there any where to forward the letters to? Or is that a waste of time?

matrixiig dot com
 
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T_R_Oglodyte

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Just now a letter (or contract) stating they are liable for upfront fees and and the commission even if the deal falls through. Getting a little aggressive now.
And there you have it. At some point they will be asked to provide some funds to an "escrow" company (that is likely a thrall of this outfit).

It won't be "upfront" because ostensibly the fee isn't being paid to Matrix and Matrix ostensibly wouldn't receive any money until after the deal closes.

But of course the buyer will go away - because there isn't any buyer. There aren't companies out there buying timeshares to use as employee housing or to gain tax breaks or anything like that. So then they will claim as theirs the money that is in the escrow account.
 

Tropical lady

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Screams like a scam!

They posted this same question/scenario on Mayan Palace Owners Group and were told that this is a scam. I referred them to the threads, here, on TUG which Denise has outlined so well with guidelines about scams. I hope they take the info seriously and stop the communication with this group.
Grupo Vidanta has also sent out alerts about scam companies buying back weeks or pretending to be acting for Vidanta.
 
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zmock8

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Has anyone actually dealt with this company or are you just thinking it is a similar company as any other.....???
 

DeniseM

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Has anyone actually dealt with this company or are you just thinking it is a similar company as any other.....???

You are not going to find anyone here on TUG that has used this company - This is a common scam, that we hear about every day. Anyone that charges a high upfront fee to sell your timeshare is going to scam you - period. REPUTABLE brokers charge a commission out of the PROCEEDS.
 

zmock8

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Yes, this company charges no upfront fees, they are strictly 7% commission fee.
 

DeniseM

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Yes, this company charges no upfront fees, they are strictly 7% commission fee.

They may have TOLD you that, but I guarantee that a bogus fee will pop up. They often call it Mexican sales tax, closing costs, commission, title search, etc. - but it's not Legit. ALL fees should come out of the proceeds - the seller should never pay a fee upfront. if there are ANY upfront fees to the seller - it's a scam... The word has gotten out about this, so now the scammers wait until they have you hooked, before they break the news about the fees.

The dead give-away is that they are offering more than market value for the timeshare. Why wouldn't they just go to ebay and buy dozens of weeks for $1 each?
 
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Matrix IIG : A buyer on standby ?

Ive been burned before with siimilar situations from another Brokerage and had to deal with the FTC to complain when I lost money.

These Matrix IIG called me today with the same game plan and had a buyer on standby willing to pay 3 times what I paid for it a year ago and they make it sound like a solid deal ...nice try! . Funny thing they called on my cell and when I asked were they got this number from they said from my resort ,well thats impossible my resort has my home number only ,the only ones that new my cell number were the last scammers (Fractional) and i thought for a minute these guys are flogging the number to someone else.. yep, no thanks I will keep the condo !
 
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Interestingly the Matrix page states "With no upfront fees (no listing fees, no appraisal fees), we make sure your vacation ownership is sold, not just listed."
They must be following the BB's warnings here and rewording their pitches.
My neighbors are communicating with them and Matrix sent them a letter stating their 7% commission after the sale. Just now a letter (or contract) stating they are liable for upfront fees and and the commission even if the deal falls through. Getting a little aggressive now.
The neighbors are now very aware it is a scam. As all this communication comes out of Colorado is there any where to forward the letters to? Or is that a waste of time?

matrixiig dot com

yes Federal Trade commision,they are handling mine!
 

Rent_Share

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Yes, this company charges no upfront fees, they are strictly 7% commission fee.

Never mind some people are just meant to be victims :bawl:
 
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