The Real Estate Purchase Company Buying Memberships? Is It Real?

[Fensterlips]

I have been contacted by The Real Estate Purchase Company offering to purchase my Diamond membership and points in the Hawaii Collection for a lot of money - over $8.00 a point. Sounds too good to be true? no? They have not asked for any money from me, just sign the very official looking letter explaining the offer. Maybe the request for money comes later, if this is a scam?
The Real Estate Purchase Company website shows New York properties for sale so it does not seem related.
Anyone have more information on this offer?

 

[David M]

I see they've been mentioned here before: https://tugbbs.com/forums/threads/real-estate-purchase-co-exit-scam.319687/

 

[Ty1on]

Oldest scam in the timeshare book except timeshare itself.

 

[DaveNV]

If you received an unsolicited call offering to buy your timeshare for over the going rate, you can bet it's a scam of some sort. If you want to see how far it goes, when the inevitable "pay us money" demand comes, tell them they can take their commission out of the proceeds after the sale. Chances are good you'll never hear from them again.

If it walks like a duck, and quacks like a duck...

Dave

 

[GT75]

Sounds too good to be true?

Yes. They contacted you, right? Why would they pay so much for DRI? Too many red flags.

 

[alwysonvac]

It’s a scam. Don‘t fall for it.

HGV’s Third-Party Exit Company Fraud page at my.hgv.com/fraud-alert.

https://club.hiltongrandvacations.c...to-protect-yourself-from-exit-company-schemes

 

[Intheknow]

It’s a scam. Don‘t fall for it.

HGV’s Third-Party Exit Company Fraud page at my.hgv.com/fraud-alert.

https://club.hiltongrandvacations.c...to-protect-yourself-from-exit-company-schemes

Do not engage with them. Please review the fraud alert provided. Too good to be true.

 

[Dude4Truth]

I have been contacted by The Real Estate Purchase Company offering to purchase my Diamond membership and points in the Hawaii Collection for a lot of money - over $8.00 a point. Sounds too good to be true? no? They have not asked for any money from me, just sign the very official looking letter explaining the offer. Maybe the request for money comes later, if this is a scam?
The Real Estate Purchase Company website shows New York properties for sale so it does not seem related.
Anyone have more information on this offer?

My parents got the exact same thing... the offer seems too good and my concern is that they want a copy of the cover sheet contract of the membership (voided copy it says) and my dad's signature. I have called the two representatives listed, Liam Brown and Daniel Ortega-Allen and neither pick up. Additionally, neither are on LinkedIn. Curious if you have discovered anything else about the intent of the offer?

 

[Ty1on]

My parents got the exact same thing... the offer seems too good and my concern is that they want a copy of the cover sheet contract of the membership (voided copy it says) and my dad's signature. I have called the two representatives listed, Liam Brown and Daniel Ortega-Allen and neither pick up. Additionally, neither are on LinkedIn. Curious if you have discovered anything else about the intent of the offer?

See above advice. No need to even waste your time investigating, this is a pure, 100%, known scam.

 

[Nowaker]

Curious if you have discovered anything else about the intent of the offer?

The intent is to defraud. 'nuf said.

 

[SJackman]

See above advice. No need to even waste your time investigating, this is a pure, 100%, known scam.

Ty1on (or anyone else), could you provide more information about The Real Estate Purchase Company being a known scam? I've been contemplating a transaction with them as well. I feel like I'm capable of spotting a scan and they've passed the sniff test so far. But now you've got me concerned.

 

[Nowaker]

Ty1on (or anyone else), could you provide more information about The Real Estate Purchase Company being a known scam? I've been contemplating a transaction with them as well. I feel like I'm capable of spotting a scan and they've passed the sniff test so far. But now you've got me concerned.

Rather than company names, tell us what they're offering, and we'll tell you if it's a scam or not. Include all relevant property details.

 

[alwysonvac]

Ty1on (or anyone else), could you provide more information about The Real Estate Purchase Company being a known scam? I've been contemplating a transaction with them as well. I feel like I'm capable of spotting a scan and they've passed the sniff test so far. But now you've got me concerned.

If any company is offering to pay you more than the going resale rate then it’s a scam.
Think about it. Why do they need to overpay you when they can easily pick up hundreds of weeks already listed on eBay, and other sites.

The Federal Trade Commission has 42 pages of comments from 2014 to 2021 regarding timeshare scams
“Be on the lookout for timeshare resale phonies” - https://www.consumer.ftc.gov/blog/2014/05/be-lookout-timeshare-resale-phonies

 

[dayooper]

Ty1on (or anyone else), could you provide more information about The Real Estate Purchase Company being a known scam? I've been contemplating a transaction with them as well. I feel like I'm capable of spotting a scan and they've passed the sniff test so far. But now you've got me concerned.

What's your sniff test? Why do you think they might not be scammers?

They may not want any upfront fees, but will keep asking for money (escrow, listing costs, early MF's, taxes, filing fees). These scammers will tell you that they have a buyer and are willing to pay a boatload of money. It may be they have a company looking to buy to house guests or employees on a conference or looking go rent.

Another big tell if they contacted you first. If they cold called you, they bought a list of owners from somewhere (usually an employee of the timeshare company) and cold called the list.

 

[SJackman]

I own a vacation club membership, not a timeshare. With a great deal of effort after my initial purchase turned out to give me less than I'd been promised, I cut a deal that permits me to purchase unlimited weeks at a very attractive price. I can see why that would have significant value to a third party, and the membership is transferable. I'm not aware of any other resale market for my membership, so I don't know if they're offering me more than it's worth. So it's not obvious to me that the deal is too good to be true, but it's a pretty attractive deal. I'm starting to think from your posts that it's probably just a scam like all the others, but it sure would help to find someone who has actually had experience with The Real Estate Purchase Company (Fred Golden is my salesperson, and Daniel Ortega-Allen is one of the names on the documents).

 

[GT75]

I own a vacation club membership, not a timeshare.

I'm not aware of any other resale market for my membership,

but it's a pretty attractive deal.

From your own statements, this is all pointing to scam. I also expect that the initial contact was made via a cold call.

Is a Mexican vacation club membership? Please tell us what you have a membership in.

 

[theo]

I own a vacation club membership, not a timeshare. With a great deal of effort after my initial purchase turned out to give me less than I'd been promised, I cut a deal that permits me to purchase unlimited weeks at a very attractive price. I can see why that would have significant value to a third party, and the membership is transferable. I'm not aware of any other resale market for my membership, so I don't know if they're offering me more than it's worth. So it's not obvious to me that the deal is too good to be true, but it's a pretty attractive deal. I'm starting to think from your posts that it's probably just a scam like all the others, but it sure would help to find someone who has actually had experience with The Real Estate Purchase Company (Fred Golden is my salesperson, and Daniel Ortega-Allen is one of the names on the documents).

While your presence and inquiries are certainly always welcome here on TUG, I respectfully submit that TUG is a somewhat unlikely place to actually find people who a). have been previously and successfully scammed by this particular operation (among oh so many scams) and / or b). who are actually willing to step forward and openly admit it.

I know that you want to believe in the legitimacy of this particular "too good to be true" proposal. Hope springs eternal, as the saying goes. Just know that you would be moving forward at your peril. At some point, you will almost certainly be asked to pony up some upfront money in order for this great and wondrous offer to be able to "proceed". What would instead "proceed" thereafter would be a diminished balance in your bank account and a sudden unexpected "problem" with completing the transaction, sometime after which communications would just cease entirely and they would suddenly disappear into thin air --- only to be reincarnated later under a different name.

If you think these folks pass your "sniff test", I respectfully submit that you really and truly need to sniff a whole lot harder.

Call me a cynic, but color me dubious. If you should manage to discover any verifiable "success" stories anywhere about this particular operation, by all means please do share. No one here will be holding their breath while waiting, however.

 

[Nowaker]

I own a vacation club membership, not a timeshare.

What club membership exactly? Name, location, etc. Details are needed.

I cut a deal that permits me to purchase unlimited weeks at a very attractive price

Cut a deal with whom? The same entity of the club membership? Or a third party? What deal? What are the terms? Details are needed.

 

[SJackman]

The vacation club is called Vacation Privileges. I bought it at Vidanta after saying no to all their Timeshare offers. I've gotten some decent value out of it after a great deal of aggravation getting it sorted out with them after I got home. I didn't spend that much on it; it was about 10% of the best price they'd gotten down to for a timeshare. My annual fee is a hefty $19 per year, and I'm entitled to unlimited weeks at the Grand Mayan or the Mayan Palace at attractive rates. A one bedroom at the Grand Mayan is available to me for roughly $1200 for the week. Holiday weeks are excluded and prices vary a bit.

 

[sue1947]

Grand Mayan weeks are available on Interval International Getaways for any week of next year (except Christmas) for $350-$779 depending on the week. The high end is for spring break weeks, but most are in the $4-500 range; for the week. These are studios through 2 BR.
Nobody is going to pay you much of anything for your Mexican vacation club. If you want out, stop paying the yearly dues.

 

[Nowaker]

The vacation club is called Vacation Privileges. I bought it at Vidanta after saying no to all their Timeshare offers. I've gotten some decent value out of it after a great deal of aggravation getting it sorted out with them after I got home. I didn't spend that much on it; it was about 10% of the best price they'd gotten down to for a timeshare. My annual fee is a hefty $19 per year, and I'm entitled to unlimited weeks at the Grand Mayan or the Mayan Palace at attractive rates. A one bedroom at the Grand Mayan is available to me for roughly $1200 for the week. Holiday weeks are excluded and prices vary a bit.

This is unclear to me. Please separate your existing timeshare/club/whatever you have from the new deal you're being offered right now. You're blending all things together to the point few nobody as any idea what you have and what new deal you're being offered.

 

[GT75]

@SJackman, you have another thread on the same topic.

Real Estate Purchase Co. Exit Scam

I recently received a call inquiring about my Diamond Resorts membership -- how many points did I own, what were my maintenance fees -- and suggesting there might be a "client" interested in purchasing my membership. I asked the name of the company he represented and was told "Real Estate...

tugbbs.com

Looks like from the other thread, that you now also agree that this is a scam.

Nice way to put it. You're right, I'd tell him to bail.

 

[SJackman]

Nowaker, sorry for the confusion. What I'm being offered now sounds just like the usual scams that are described here and in the other thread referenced above. Everything else I was talking about was just my original deal with Vacation Privileges and then a modified deal with Vacation Privileges.

I had about three weeks through Vacation Privileges that were $399 or $499 and I used those. That's where I got some value. That was some years back, before RCI started offering weeks at these properties at low prices. I'm not an II member so I'm not sure when they started offering these resorts at those sorts of prices. It's true that the current availability through exchange companies reduces what my membership could be worth, although you have to own a timeshare, or at least have timeshare points, to make use of the exchange companies, and not everyone can do that.

I'm going to read all of today's responses more closely and give this some more thought, but I'm pretty sure I'm going to decide not to proceed. I greatly appreciate everyone's help.

 

[chapjim]

I have been contacted by The Real Estate Purchase Company offering to purchase my Diamond membership and points in the Hawaii Collection for a lot of money - over $8.00 a point. Sounds too good to be true? no? They have not asked for any money from me, just sign the very official looking letter explaining the offer. Maybe the request for money comes later, if this is a scam?
The Real Estate Purchase Company website shows New York properties for sale so it does not seem related.
Anyone have more information on this offer?

Heckuva deal! What could go wrong?

 

[Nowaker]

I'm going to read all of today's responses more closely

Don't even lose time on this. This is scam. You know it.