Received too good of an offer for Rancho Banderas points

[Joyce82]

Hello, I received a call by a man identifying himself as "Richard Powers" from Farrell Realty. He offered to email me an offer for my vacation credits. I agreed. Two days later, he sent me an offer for over $300K. In the offer, he wanted to see a copy of the front cover page of the contract. I only own two weeks so over $300K for what I own seems to good to be true. What's the end game of this scam?

 

[alwysonvac]

It's a SCAM.
Pay the fee(s) and you'll never hear from them again.

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FBI New York Warns of Scams Targeting Timeshare Owners | Federal Bureau of Investigation

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Don't Fall for Timeshare Exit Scams

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[Joyce82]

Thank you.

 

[jeffox]

There will always be another tax or fee that needs to be paid, there is no buyer or renter, these are all scams.

 

[Joyce82]

I figured. I was just curious what was their angle since they did not ask (may be yet) for any upfront fees and also the "broker" was not pushy at all. He just asked for an email where he can send the offer and that was the extent of the conversation. And then, I got an offer for $368K for my two vacation weeks. lol

 

[TUGBrian]

they always sound legitimate and attractive, if they didnt you wouldnt even be tempted to move forward.

these scams exist because they are very effective at convincing people to send money on the chance at a large payment down the road.

 

[davidvel]

Hello, I received a call by a man identifying himself as "Richard Powers" from Farrell Realty. He offered to email me an offer for my vacation credits. I agreed. Two days later, he sent me an offer for over $300K. In the offer, he wanted to see a copy of the front cover page of the contract. I only own two weeks so over $300K for what I own seems to good to be true. What's the end game of this scam?

What did you pay for your timeshare? You know it is not worth what they offered.

 

[iftravel]

Hello, I received a call by a man identifying himself as "Richard Powers" from Farrell Realty. He offered to email me an offer for my vacation credits. I agreed. Two days later, he sent me an offer for over $300K. In the offer, he wanted to see a copy of the front cover page of the contract. I only own two weeks so over $300K for what I own seems to good to be true. What's the end game of this scam?

Can you ask him to send you a 10% deposit to secure the deal as you received too many offers and it’s going to be a bidding war?

 

[LannyPC]

these scams exist because they are very effective at convincing people to send money on the chance at a large payment down the road.

This is another reason why the infamous Nigerian Prince scam is so effective and bilks many people out of thousands of dollars each year.

 

[LannyPC]

...the "broker" was not pushy at all. He just asked for an email where he can send the offer and that was the extent of the conversation.

If " He just asked for an email", then he is just seeing if you are a potential victim or if you know that this is a scam. If you send him an e-mail, then he can see that you are intrigued and want to move forward, thus setting you up for the scam. If you don't respond to his e-mail, then he knows that you know this is a scam and he'll likely just move on to another potential victim.

 

[Fido Chuckwagon]

Can you ask him to send you a 10% deposit to secure the deal as you received too many offers and it’s going to be a bidding war?

Winner!

 

[TimeshareGuru]

Timeshare owners are being targeted by unscrupulous operators through their fraudulent schemes including bogus and too-good-to-be-true offers to either buy their timeshares, market and sell them, or rent them to earn unrealistic income. Unfortunately, many naive and gullible owners have fallen victim to those schemes and have lost thousands of dollars in a desperate effort to get rid of their timeshares. Federal and state agencies have not been able to catch these crooks or put them out of business. $300k for two timeshare interests makes no sense. Unlike standard real estate, timeshares are not a high demand and there is no shortage of them in the resale market. They sell for pennies on the dollar. If you paid $40k, you will be lucky to get $2k in light of the fact that most owners are giving them away for free. Therefore, be very leery of unrealistic offers. They are all scams.