bencad
newbie
I was recently contacted by a company called International Financial Management based in Washington, DC about selling my timeshare. They claim to have lined up a buyer. Has anyone dealt with them or know if they're legit?
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[scam] International Financial Management? [scam]
- Thread starter bencad
- Start date
It's a scam.
Look around this site and you will see this over & over. If they call you - it's a scam. If they "have a buyer" but want money - it's a scam. If they want money to close (or for escrow, title search, etc) - it's a scam. Your contact qualifies on a couple levels so, absolutely no doubt no need to deal with them any further to verify - it's a scam! Give your timeshare away or sell it for a few dollars. t will be far cheaper and you'll save money in the long run. Avoid this group. It's a scam.
Look around this site and you will see this over & over. If they call you - it's a scam. If they "have a buyer" but want money - it's a scam. If they want money to close (or for escrow, title search, etc) - it's a scam. Your contact qualifies on a couple levels so, absolutely no doubt no need to deal with them any further to verify - it's a scam! Give your timeshare away or sell it for a few dollars. t will be far cheaper and you'll save money in the long run. Avoid this group. It's a scam.
DeniseM
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Anyone who charges you a large upfront fee to sell or rent your timeshare is a scammer - PERIOD. These companies make their money off the fee and they have no intention of selling your timeshare after they collect the fee. It doesn't matter what they CALL the fee - it's a scam.
Right now, the resale market is at an all-time low. Most timeshares are selling for 0-10% of original retail. Search for your timeshare on ebay to see what I mean. Many people are having trouble even giving away perfectly nice timeshares.
Right now, the resale market is at an all-time low. Most timeshares are selling for 0-10% of original retail. Search for your timeshare on ebay to see what I mean. Many people are having trouble even giving away perfectly nice timeshares.
These companies come and go all the time. They are not legit. No one is going to contact an obscure company and offer to overpay for a timeshare provided said company can find them a seller.
The scammers have gotten very clever with their lies. They may tell you the money you give them is being held in escrow, but this is just a way to make the scam sound more legit. There is no escrow and any money you give them will be gone forever and they will not sell your timeshare.
They may claim that you are safe if you pay by credit card. This is not true. They will drag out the process beyond the point where you can contest any charges. They will also get you to sign a contract stating you agree to pay for some bogus service such as title search, closing costs, appraisal or taxes. If you try to contest the fee with your cc company, the scammers will say you paid them to perform a service which they will then claim was performed.
The so-called buyer will disappear as soon as they have your money.
The scammers have gotten very clever with their lies. They may tell you the money you give them is being held in escrow, but this is just a way to make the scam sound more legit. There is no escrow and any money you give them will be gone forever and they will not sell your timeshare.
They may claim that you are safe if you pay by credit card. This is not true. They will drag out the process beyond the point where you can contest any charges. They will also get you to sign a contract stating you agree to pay for some bogus service such as title search, closing costs, appraisal or taxes. If you try to contest the fee with your cc company, the scammers will say you paid them to perform a service which they will then claim was performed.
The so-called buyer will disappear as soon as they have your money.
Thunderturtle
newbie
International Financial Management
I too was contacted by This International Financial Management company based out of Washington DC. They said they have a buyer for my property, and have his deposit in escrow for 20% of the selling price. They e-mailed me a contract and want $1400 for title search and transfer fees. I called them back and told them I won't pay anything up front, but would renegotiate the price lower, guarantee the title, and have the buyer assume all costs... they are actually considering it... I wanted to ask the user who posted that they were contacted by this same company what they did .
I too was contacted by This International Financial Management company based out of Washington DC. They said they have a buyer for my property, and have his deposit in escrow for 20% of the selling price. They e-mailed me a contract and want $1400 for title search and transfer fees. I called them back and told them I won't pay anything up front, but would renegotiate the price lower, guarantee the title, and have the buyer assume all costs... they are actually considering it... I wanted to ask the user who posted that they were contacted by this same company what they did .
MCLY
TUG Member
IFM info
I was trying to get info on this company because I was contacted last week also,I will be interested to see what they do with Thunderturtles proposition because I told them no up front fees. They have a nice website at IFMfirm.com and also do mortgages.
I was trying to get info on this company because I was contacted last week also,I will be interested to see what they do with Thunderturtles proposition because I told them no up front fees. They have a nice website at IFMfirm.com and also do mortgages.
DeniseM
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Hi and welcome to TUG!
We hear this same story multiple times a day here on TUG. This is a scam. Anybody can put together a nice website for very little money - it makes them look Legit.
Their physical address is for a "virtual office" - http://www.davincivirtual.com/loc/us/district-of-columbia/washington-virtual-offices/facility-412
I looked up their website - it was just created on Nov. 7th! (Despite their claim to being in business since 1947!)
The text on their website is nearly identical to 2 other websites - timeshareadventures.com - has 64 complaints with the BBB
timesharehelpinghands.com - unknown by BBB
There is a simple rule of thumb here:
Any company that charges you a large upfront fee of any kind to sell or rent your timeshare, is going to scam you - period.
They make their money with the upfront fee and then they make no attempt to sell/rent your timeshare.
Legitimate resellers charge a commission after the sale, but the scammers always ask for a large upfront payment.
Here are some warnings signs with these kinds of companies:
If you answer yes to any of these questions, then this is the usual scenario:
This is a bitter pill to swallow, but right now, most timeshares are selling for 0-20% of the original retail price. It's not a good time to sell a timeshare.
To see what your timeshare is really worth on the current resale market:
(Be sure you look at the completed listings - those are actually SELLING prices - you will find asking prices all over the place, but what really counts is what they actually sold for.)
We hear this same story multiple times a day here on TUG. This is a scam. Anybody can put together a nice website for very little money - it makes them look Legit.
Their physical address is for a "virtual office" - http://www.davincivirtual.com/loc/us/district-of-columbia/washington-virtual-offices/facility-412
I looked up their website - it was just created on Nov. 7th! (Despite their claim to being in business since 1947!)
The text on their website is nearly identical to 2 other websites - timeshareadventures.com - has 64 complaints with the BBB
timesharehelpinghands.com - unknown by BBB
There is a simple rule of thumb here:
Any company that charges you a large upfront fee of any kind to sell or rent your timeshare, is going to scam you - period.
They make their money with the upfront fee and then they make no attempt to sell/rent your timeshare.
Legitimate resellers charge a commission after the sale, but the scammers always ask for a large upfront payment.
Here are some warnings signs with these kinds of companies:
1) Did you get an unsolicited sales call from them?
2) Do they say that they already have a renter/buyer for your timeshare? (or an established market like people attending conventions.)
3) Do they want you to pay hundreds/thousands of dollars for a title search, or transfer fees, or taxes, or a closing fee, or appraisal, UPFRONT?
4) Are they offering to rent/sell it for far more than the market value?
5) Do they want you to pay a large up front fee that supposedly you will get back?
6) Do they want your credit card number over the phone?
2) Do they say that they already have a renter/buyer for your timeshare? (or an established market like people attending conventions.)
3) Do they want you to pay hundreds/thousands of dollars for a title search, or transfer fees, or taxes, or a closing fee, or appraisal, UPFRONT?
4) Are they offering to rent/sell it for far more than the market value?
5) Do they want you to pay a large up front fee that supposedly you will get back?
6) Do they want your credit card number over the phone?
If you answer yes to any of these questions, then this is the usual scenario:
Once you pay the fee and receive the contract, you discover that the company has only promised to advertise your resort, not to rent/sell it, and they don't mention having a renter/buyer in the contract.
Then, you won't hear anything from them for a long time, and when you contact them, they will tell you that the renter/buyer backed out, but they will advertise your timeshare on their over-priced website.
Finally, when you try to get your money back, they will point out that you signed a contract, and it's only for advertising.
When you try to challenge it with your credit card company, they will tell you that you only had 60 days to dispute the charge, and that it's too late to do anything.
Then, you won't hear anything from them for a long time, and when you contact them, they will tell you that the renter/buyer backed out, but they will advertise your timeshare on their over-priced website.
Finally, when you try to get your money back, they will point out that you signed a contract, and it's only for advertising.
When you try to challenge it with your credit card company, they will tell you that you only had 60 days to dispute the charge, and that it's too late to do anything.
This is a bitter pill to swallow, but right now, most timeshares are selling for 0-20% of the original retail price. It's not a good time to sell a timeshare.
To see what your timeshare is really worth on the current resale market:
1) Register with ebay
2) Sign in
3) Search for your resort by exact name
4) From the menu on the left find the "Buying Formats" heading and click "choose more"
5) On the next page click "completed listings"
6) The next page will show you current selling prices
(Be sure you look at the completed listings - those are actually SELLING prices - you will find asking prices all over the place, but what really counts is what they actually sold for.)
2) Sign in
3) Search for your resort by exact name
4) From the menu on the left find the "Buying Formats" heading and click "choose more"
5) On the next page click "completed listings"
6) The next page will show you current selling prices
(Be sure you look at the completed listings - those are actually SELLING prices - you will find asking prices all over the place, but what really counts is what they actually sold for.)
(Be sure you look at the completed listings - those are actually SELLING prices - you will find asking prices all over the place, but what really counts is what they actually sold for.)
Last edited:
I was trying to get info on this company because I was contacted last week also,I will be interested to see what they do with Thunderturtles proposition because I told them no up front fees. They have a nice website at IFMfirm.com and also do mortgages.
You are at least the third person that they have contacted in the past week claiming to have a buyer. At a time when people are having trouble giving away their timeshares doesn't it seem strange that this company has so many buyers who can't find a timeshare?
They may string you along to make themselves look legit, but at some point they will ask for money, probably for taxes.
Thunderturtle
newbie
IFM
Thank you for the post revealing the office as virtual and having been registed with Go Daddy only last month, WOW! They responded to my offer, by halving the requested fees from 1400 to 700. I said no upfront money, they said no can do. I say Too-da-loo. I was tempted to put it on my American Express and dispute it within the 60 days I'm allowed, but I smell a headache dispite their rosy promises. If anyone has an outcome with this company, one way or another, I'm curious for sure.. but I smell a likely SCAM, and thats being generous.
Thank you for the post revealing the office as virtual and having been registed with Go Daddy only last month, WOW! They responded to my offer, by halving the requested fees from 1400 to 700. I said no upfront money, they said no can do. I say Too-da-loo. I was tempted to put it on my American Express and dispute it within the 60 days I'm allowed, but I smell a headache dispite their rosy promises. If anyone has an outcome with this company, one way or another, I'm curious for sure.. but I smell a likely SCAM, and thats being generous.
DeniseM
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Hi and welcome to TUG! 
It's a total SCAM - I will move your question to an on-going thread about them.
It's a total SCAM - I will move your question to an on-going thread about them.
DeniseM
Moderator
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Right now is a really tough time to sell a timeshare. Because of the economy, most timeshares are selling for 0-10% of original retail. I know that is a bitter pill to swallow, but these scammers are preying on TS owners who don't want to accept that.
Here's how to find out what your timeshare is selling for on the resale market:
If you poke around a bit, you will see that there are more than 300 timeshares listed on ebay for $0-100 - most with no bids. Many people are having a hard time even giving away their timeshares these days.
If you discover that your TS has no resale value, it may be possible to give it away, if it is paid off, and all your fees are up to date. Let us know if you want more info. on that.
On the other hand, if you don't have to get rid of this timeshare, we can definitely help you get more use out of it. Let us know if you want more info. on that.
Here's how to find out what your timeshare is selling for on the resale market:
1) Register with ebay
2) Sign in
3) Search for your resort by exact name
4) From the menu on the left find the "Buying Formats" heading and click "choose more"
5) On the next page click "completed listings"
6) The next page will show you current selling prices
(Be sure you look at the completed listings - those are actually SELLING prices - you will find asking prices all over the place, but what really counts is what they actually sold for.)
2) Sign in
3) Search for your resort by exact name
4) From the menu on the left find the "Buying Formats" heading and click "choose more"
5) On the next page click "completed listings"
6) The next page will show you current selling prices
(Be sure you look at the completed listings - those are actually SELLING prices - you will find asking prices all over the place, but what really counts is what they actually sold for.)
If you poke around a bit, you will see that there are more than 300 timeshares listed on ebay for $0-100 - most with no bids. Many people are having a hard time even giving away their timeshares these days.
If you discover that your TS has no resale value, it may be possible to give it away, if it is paid off, and all your fees are up to date. Let us know if you want more info. on that.
On the other hand, if you don't have to get rid of this timeshare, we can definitely help you get more use out of it. Let us know if you want more info. on that.
This makes (at least) four timeshare owners who have been contacted by this outfit in the past week. I'll say it again: At a time when people can't give away their timeshares this company, which has only been in existence for a couple of months, wants you to believe they have way more buyers than sellers.
Don't fall for it.
OK, where in Washington D.C. are they located?
I will stop by their office tomorrow and let you guys know how it looks like - working office, employees, etc...
If they claim they have had business since 1947, it should look like well established office.
Give me the address!
Even I can smell it's a total scam!!
I will stop by their office tomorrow and let you guys know how it looks like - working office, employees, etc...
If they claim they have had business since 1947, it should look like well established office.
Give me the address!
Even I can smell it's a total scam!!
Rent_Share
TUG Member
Try douling it to 2800 nut take it out of the back end, they will have all kinds of reasons why they can't double their potential profit, none of them any more legitimate than the buyer they DO NOT HAVE
There written contract will agree with the "advertising services" they actually provided, their "promises" will not be in the agreement, AMEX willlook at the contract and say they provided what was in the contract . . .
Rent_Share
TUG Member
Technically the post office requires these types of "offiices" to have PMB in the address
Private Mail Box
DeniseM
Moderator
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There is a link to their address in post #8 - it's one of those "virtual offices," which for $95 a mo. gives you a prestigious mail drop address. They have no real physical location - probably someone's garage or basement.
MCLY
TUG Member
Another one with same story
just got a call from the another outfit called RESORT FOR SALE BY OWNER,
URL-WWW.myresortfsbo.com. Same MO.
just got a call from the another outfit called RESORT FOR SALE BY OWNER,
URL-WWW.myresortfsbo.com. Same MO.
triple t saber
newbie
iam so lucky i found this site. i got the same call bencad got earlier today. i even recieved the contract via email with all the same promises that has been mentioned in this thread. i cant wait for them to call me tomorrow so i can throw all this info in their faces.
Brerrabbit
Guest
Large upfront fees???
I would say that any of them that want to charge you ANY upfront fee of ANY AMOUNT is a scam.
Just remind them that the attorney generals of several states and cities have recommended that people never do that. They get complaints about these scams all the time - especially in Florida. The list of them is probably on here somewhere.
If they tell you they can't take a payment at the back end, out of the sales price, because that would be considered a commission and they would have to have a real estate license to do that, then tell them, "Well, for crying out loud, GO GET A REAL ESTATE LICENSE."
I would say that any of them that want to charge you ANY upfront fee of ANY AMOUNT is a scam.
Just remind them that the attorney generals of several states and cities have recommended that people never do that. They get complaints about these scams all the time - especially in Florida. The list of them is probably on here somewhere.
If they tell you they can't take a payment at the back end, out of the sales price, because that would be considered a commission and they would have to have a real estate license to do that, then tell them, "Well, for crying out loud, GO GET A REAL ESTATE LICENSE."
jdestiny520
newbie
Fraud
THESE PEOPLE ARE FRAUD! WE ARE ONES OF THE STUPID PEOPLE WHO FELL FOR IT! DONT DO IT! THEY ARE FRAUD, SCAMMERS! they want your money for closing cost and they then keep your money! ANYTHING THAT HAS TO DO WITH WIRING MONEY IS A SCAM!
THESE PEOPLE ARE FRAUD! WE ARE ONES OF THE STUPID PEOPLE WHO FELL FOR IT! DONT DO IT! THEY ARE FRAUD, SCAMMERS! they want your money for closing cost and they then keep your money! ANYTHING THAT HAS TO DO WITH WIRING MONEY IS A SCAM!
jdestiny520
newbie
this is the address they have on their website:
1325 G Street NW Ste 500
Washington DC 20005
jdestiny520
newbie
I wish I would have found this website before. We have their funds froze where are money went. Though neither our bank nor their bank can do anything about it, since we wired them the money. The man I was dealling with is names Dwyan Carter and his Sup. (Mr Rodriguez) is out of Orlando. After we had their account froze, Mr Carter wanted us to wire money to another account! WTF! this is BS, and I hope someone gets these people. (we filed a police report on these people).
T_R_Oglodyte
TUG Lifetime Member
1325 G Street NW is the address for an Alphagraphics franchise. Alphagraphics is an office services company, similar to UPS Store.
I suspect that Alphagraphics has a mailbox service similar to that offered at many such businesses, and "Suite 500" is simply their mail box number.