EL Cid referrals to agents to buyer our timeshare

I have been contacted by 4 different companies who have told me that El Cid is giving them names of owners who want to sell their timeshare units. The end of last year we were scammed out of over $6000 thru International Brokers. There is a forum already regarding that company. I was then contacted by a company in Minnesota who never emailed me any proposal. This last week, I was called by a company called Alpha Corp Services. I asked them to send a proposal which I just received for 3 times what we paid for the week. I asked him how he got our name and he said their company was given a list of owners who wanted to sell their timeshare weeks. (which we have never told El Cid.) He said the person at El Cid is Juan Gonzales. I found that he is the CFO and will be contacting him on 3-10-14. I believe this is part of the same scam as with International Brokers and Property Management.

lindap691 wrote:

The end of last year we were scammed out of over $6000 thru International Brokers.... This last week, I was called by a company called Alpha Corp Services. I asked them to send a proposal which I just received for 3 times what we paid for the week..... I believe this is part of the same scam as with International Brokers and Property Management.

Because you were scammed before, you're now on a "sucker list", where other scam artists will continually hound you with offers thinking that you will fall for these subsequent scams hook, line, and sinker.

The fact that this Alpha Corp. contacted you unexpectedly and that they're giving you a too-good-to-be-true offer are dead giveaways for the signs of a scam.

You also say that "[you] believe this is part of the same scam as with International Brokers and Property Management". It probably is. It's likely the same people or principals behind Alpha but using a different name and feigning that they are new and have never had contact with you before.

Since you lost $6000 in such a scam, hopefully you've learned your lesson and realize how to spot such scams in the future. I don't want to sound harsh or condescending but the fact that you're even inquiring about such an outfit when you've been scammed before shows how and why these scam artists are so successful.

Owners are naively believing that their worthless (resale wise) timeshares are worth what they originally paid and that somewhere out there, another sucker is ready to pay even more. All the owner has to do is hire the right resale company who can somehow find these buyers.

Because of your past experience you are facing such kind of inconvenience. So in future, if you look for online referral for your business then you should keep all the safe sides because it will help you to prevent yourself from any kind of scam again.

jaydenw wrote:

Because of your past experience you are facing such kind of inconvenience. So in future, if you look for online referral for your business then you should keep all the safe sides because it will help you to prevent yourself from any kind of scam again.

Howzzat again ???

I know there are a lot of scams out there. How does one know the real from the scams.

thomasb746 wrote:

I know there are a lot of scams out there. How does one know the real from the scams.

In the case of Mexican timeshares, it's very simple. NO ONE buys resale Mexican RTU contracts, so ANYONE claiming to do so is clearly and obviously a scam operation. Period.

In the U.S., some companies (Wyndham for free, Diamond for $250) will take back timeshares, paying nothing to the owner. Only a very few high end companies (Hyatt, Marriott) will ever actually pay anything to take back their timeshares and they will only pay what a resale buyer under contract will pay to a seller, exercising the company's "right of first refusal" (ROFR) to buy it back at that same price the willing buyer was willing to pay.

It is generally the current owner's responsibility to find his / her own willing new recipient. Relying upon (or paying) someone else to sell your timeshare is ineffective, very expensive or a complete scam --- maybe even all three.

thomasb746 wrote:

How does one know the real from the scams.

A scam usually starts with an unexpected telemarketing call. The next part would be telling you that they can rent out or sell your unit for far, far above market value.

Other elements you might see in a scam are: 1) Telling you that any money you send will go into escrow and be refunded when the sale is complete. 2) Asking you to wire money. 3) Telling you they represent large corporations or that they have a pool of buyers looking for units like yours. 4) Telling you they are BBB- or ARDA-accredited.

There are more but the simple cardinal rule is Never ever pay anyone a large, upfront fee to sell, rent out, market, or "cancel" your timeshare. If you follow that rule, you likely won't get scammed.