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New timeshare rip-off scheme

harley410

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Mar 19, 2012
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I know we have all been burnt before with the upfront monies paid and no return on the investment and the government is cracking down on these but I have run into a new scam recently and want to share and warn everyone of this group. When I was called I said I was not interested in anyone asking for money upfront and was told by the two groups working together that the only fee was a 7% commission paid AFTER closing and receiving the funds. Sounds great huh...nope. The group that contacted me is Royal Members out of Reno. They said since it was an international sale and they had a buyer, I had to go through another company called Ryan & Ross Financial Holdings in Savannah, Georgia. After having my lawyer review the contract, I signed and sent in. I then was asked to wire 10% transfer fee to a bank in Mexico....RIGHT. I was also asked to sign a transfer sheet. They stated the transfer fee would be added back to the selling price. I backed out and now they are trying to get the 7% because I cancelled. Just another rip-off company to add to your list.
 

TUGBrian

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isnt new, just another form of asking for an upfront fee after you have been hooked sadly.
 

NiciMeyers84

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Mar 16, 2012
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I'm sure you were on your guard about shady companies too. Being new to process this is exactly what I'm hoping to avoid. Are you going to have to the 7%? Was it required in the initial contract?
 

rrlongwell

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I'm sure you were on your guard about shady companies too. Being new to process this is exactly what I'm hoping to avoid. Are you going to have to the 7%? Was it required in the initial contract?

I agree with the intent of this post, it appears to be a contract issue at this point. This is the danger in agreeing to buy or sell a timeshare than backing out. If there is a real buyer out there, ask the company to use a reputable resale firm or an attorney of your choise to hold the monies. If there is a real buyer out there, just walking away from the deal could be a problem. It is my understanding that in Pennsylvania, the buyer can pick the closing company. If they give you problems on this then suggest any licenced attorney or closing company in the location the resort is in.
 
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x3 skier

TUG Review Crew: Veteran
TUG Member
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Apr 17, 2006
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Ohio and Colorado
Resorts Owned
Steamboat Grand, The West,
Raintree and, formerly, The Allen House
Sounds very familiar. Check my thread on Royal Vista Properties Management in this section. Haven't sent them anything except some emails to keep them from finagling anyone while answering my questions and observations.

Wonder if they are operation out of a federal prison somewhere?:hysterical:

Cheers
 
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