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beware of dealing with Timeshare Broker Services of Florida
I am trying to buy right now from TBS for a FLA property for $10. They said they need a $500 deposit because the purchase price is so low. Are my red flags going up for no reason here? They did tell me exactly how much it is going to cost to purchase the property and they said my deposit was 100% refundable during the purchase process.....thoughts?
Barbara P.
barbarap341 wrote:I am trying to buy right now from TBS for a FLA property for $10. They said they need a $500 deposit because the purchase price is so low. Are my red flags going up for no reason here? They did tell me exactly how much it is going to cost to purchase the property and they said my deposit was 100% refundable during the purchase process.....thoughts?
Are these assurances merely telephone conversations (which are legally meaningless), or are they actual guarantees clearly expressed in writing, under authorized signature, within a legally valid contract?
Frankly, a $500 "deposit" on a $10 timeshare sale makes no sense at all to me. I'd instead recommend finding and using an independent closing company yourself, and paying THEM the closing costs (which would be right around $300 with either Timeshare Transfer or JRA Services, both of which are competent and honest independent closing companies). I also further recommend having the selected closing company request an estoppel letter from the resort involved, a document which will verify in writing whether there are any unpaid fees, late fees, liens, special assessments, etc. You DON'T want to be hastily proceeding with a ten dollar purchase --- if it also just happens to already have thousands of dollars in debt firmly attached to it...
KC
Last edited by ken1193 on Oct 28, 2010 06:45 PM
barbarap341 wrote:They did tell me exactly how much it is going to cost to purchase the property and they said my deposit was 100% refundable during the purchase process.....thoughts?
And, beware of the supposedly 100% refundable deposit during the purchase process .... big red flag.
If you really want this timeshare for $10 at a closing for $500, then get a signed contract from the broker before moving further in the transaction and before sending any money.
R P.
I paid $499 to list with them few years back took my listing never a single offer and never heard from them again.
Stay away from sell my timeshare now also known as TBS also known as Timeshare Hot Deals any company that does both the up-front fee scam and also runs a broker service is double dipping and has many conflicts. Also any company operating under so many different names HUGE RED flag in my book. They are clearly inflating the closing fee so they can at-least make a couple hundred clearly they are not making any commission off a $10 listing although that client most likely paid an up-front fee to list with them.
Charles R.
Last edited by brian1132 on Nov 09, 2010 01:56 PM
We were at Raintree Vacation Club of Cabo sales presentation this week, and the sales manager recommended a broker in Miami (Mr. James Stevenson of HK Holdings ) who said they can sell out Playa Del Sol 1-bedroom float for $9200 within 90 days, but needs us to sign a release form for him to do title search, and said they charge $499.95 commission only if the property is sold. Does this sound legitimate? has anyone had dealing with this company before? What should I be cautious about in this type of dealings? Any advises/opinions would be greatly appreciated. We were scammed by "Royal Vactions" as recommneded by Playa Del Sol sales agent back in 2007, and am very suspicious of any offer now. Amy Du of California
Amy D.
amyd261 wrote:We were at Raintree Vacation Club of Cabo sales presentation this week, and the sales manager recommended a broker in Miami (Mr. James Stevenson of HK Holdings ) who said they can sell out Playa Del Sol 1-bedroom float for $9200 within 90 days, but needs us to sign a release form for him to do title search, and said they charge $499.95 commission only if the property is sold. Does this sound legitimate? has anyone had dealing with this company before? What should I be cautious about in this type of dealings? Any advises/opinions would be greatly appreciated. We were scammed by "Royal Vactions" as recommneded by Playa Del Sol sales agent back in 2007, and am very suspicious of any offer now. Amy Du of California
It's good that you're suspicious of any offer since the majority of these in the timeshare industry are scams.
$9200 for a 1-bedroom in Mexico is unrealistically high. Also, legitimate licensed real estate brokers who find buyers for you usually charge a minimum $1000 commission. Guarantees of properties being sold within a short period of time (like 90 days) also turn out to be worthless.
This all sounds fishy to me and I would stay away from them. However, if you want to make sure, ask them to send you a copy of the contract that spells out in detail how and when they get money from you. If they are legitimate, the buyer will pay the broker $9200 and then the broker should pay you that money less its commission.
Any other form of payment to this broker you should deem unacceptable.
Lance C.
nevedl wrote:NoneI am considering buying a resale from TBS - are they now operating in an ethical manner, or are there people still having issues with their behavior?Some of the previous posts are not so complementory about TBS, Don and Diana - any current experience?
Judi Kozlowski - Re/Max P.
Last edited by judikoz on Mar 01, 2012 01:57 PM
I too want to add to this talk of the HK Holdings and now HR Holdings....James Stevenson takes the $499 per resort to sell for title search. The 180 day contract means nothing of course...the company now is called HR Holdings....who now wants to hurriedly get things settled. Oh yes it almost complete....our money is tied up so send via wire to a Mexico Bank to be put in escrow and we will pay the assessment and return this with the sale payment. All this started at Raintree in Cabo San Lucas. Now they want a letter faxed with my signature to close the escrow. Meanwhile the money is tied up with the Mexican government who won't allow it released because it looks like laundered/or drugs/etc. So help us pay for this Mexican lawyer who can get it through. These Holding companies are in Miami?? After talking to the FBI they want me to email it to the Miami FBI ...the FBI are probably aware and perhaps if enough persons tell their story they may even stop these creeps!! BUt, I'm certain no money is ever returned!
Barb K.
If it sounds like a scam and looks like a scam......... it's a SCAM !!!!!!!!!! sorry but kiss your money good bye. Do yourself a favor and go to www.stopthescam.org. Then go to timeshare and click on a few of the links. You'll find the Mexican sams there to view.
Don P.
They recently bilked me out of $6000! DO NOT USE TIMESHARE BROKER SERVICES OF FLORIDA. I did my due diligence and the agent sold me points for 2013 and 2014 that didn't even exist! We now cannot get them or their attorneys to return my attorney's phone call.
Lindy B.
lindyb wrote:They recently bilked me out of $6000! DO NOT USE TIMESHARE BROKER SERVICES OF FLORIDA. I did my due diligence and the agent sold me points for 2013 and 2014 that didn't even exist! We now cannot get them or their attorneys to return my attorney's phone call.
Have you filed a complaint with the attorney general of FL? You can do this online .... this definitely looks like a case of out and out fraud.
R P.