An investigation has resulted in the business receiving an F Rating with BBB.
The company website states it is a financial brokerage, securities and investment advice business. However, BBB investigators could not find the business registered as a brokerage firm with the Financial Industry Regulatory Authority or the Montana Securities Division. Letters sent to the business address requesting information were returned to sender.
Consumers allege the company contacted them claiming they had a buyer who wanted to purchase their timeshares for more than they were worth. Your BBB offers the following tips when selling a timeshare:
Your BBB offers the following tips when selling a timeshare:
Verify the address. Do not do business with a timeshare reseller that does not provide a street address; a P.O. box is not sufficient. Confirm the business’s address and where they are licensed to sell real estate with the state licensing board or state’s real estate commission.
Double check the fees. Avoid companies asking for an “appraisal” fee or closing costs upfront. Look for a business that allows the customer to pay for the fees after the timeshare has been sold. Never wire money and be sure to ask what fees will be included in the cost and if they are refundable.
Be patient. Do not agree to anything that is presented over the phone. Ask the salesperson to send a written offer. Do not be pressured by anyone who says the property can be sold immediately.
Go over the contract carefully. Contracts should include what services the broker provides, how much and when the costs should be paid, a length of time to sell the timeshare and the refund policy. Make sure the contract states who is responsible for the sale.
Avoid too good to be true deals. If the buyer is offering more than the timeshare is worth proceed with caution.
Anyone who believes they may have been a victim of a scam should contact their local law enforcement and report it to BBB Scam Tracker at bbb.org/scamtracker.
PRESS RELEASE SOURCE: Better Business Bureau