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Question: Why would you PAY a company TO BUY your timeshare?

On August 9th, 2016

Posted In:
Alerts | Fraud

Company asks to buy your timeshare and then requests fees for taxes, title search and transfer….REALLY?

BBB has received calls from throughout the country inquiring about a company claiming to be located in Amarillo, Texas. The company, South Park Resorts, asks to buy your timeshare and then requests fees for taxes, title search and transfer. BBB investigations have found the company is not located at the address given on South Bell Street. The Company is not responsive to phone calls or email.

The company initially asks for $175 to be sent by wire transfer and are instructing callers to send the money using the speed option “money in minutes” as opposed to next day. The money is being wired to Daytona, FL. When asked, a consumer was told the money was sent to Daytona because that was the location of the company’s headquarters. BBB files nationwide only show the company at the Bell St. location in Amarillo.  

The company provides an address of 5901 S. Bell St. Mail to that address has been returned undeliverable. The owner of the shopping center at that address does not know the company.

Consumers claim they are contacted by phone email stating “Thank you for allowing our Company to present you with our clients Signed offer to Purchase your Vacation Property.” 

A form letter and contract is attached to the email. Once the money is sent, phone calls and emails from the company are not returned. 

BBB investigated and found the email came from Gary Stone with a local number of 806-318-8132. Calls to this number were not returned. The website for the company,http://southparkresorts.wix.com/southparkresorts claims an address of 5901 Bell St., Amarillo, TX 79109. This location is a shopping mall where suite numbers are part of the address. No suite number is provided for South Park resorts. 

The BBB received several of the contracts sent to consumers asking them to sell their timeshare. The contracts vary slightly and do not contain the seller’s name or address. The contracts all have the same buyer of the timeshare, Sandy Carlin and claim Sandy has paid a deposit of $3,500. All contracts BBB looked at are dated with the same date. 

The FTC advises you go into “skeptic mode” when approached to sell your deeded timeshare. Their tips include: 

  • Don’t agree to anything on the phone or online until you’ve had a chance to check out the reseller. Contact the state Attorney General and local consumer protection agencies in the state where the reseller is located. Ask if any complaints are on file. You also can search online for complaints.
  • Ask the salesperson for all information in writing.
  • Ask if the reseller’s agents are licensed to sell real estate where your timeshare is located. If so, verify it with the state Real Estate Commission. Deal only with licensed real estate brokers and agents, and ask for references from satisfied clients.
  • Ask how the reseller will advertise and promote the timeshare unit. Will you get progress reports? How often?
  • Ask about fees and timing. It’s preferable to do business with a reseller that takes its fee after the timeshare is sold. If you must pay a fee in advance, ask about refunds. Get refund policies and promises in writing.
  • Don’t assume you’ll recoup your purchase price for your timeshare, especially if you’ve owned it for less than five years and the location is less than well-known.
  • The company asks the money for taxes, title search and transfer be sent by Western Union. In most sales of this nature, the money would be paid at closing. South Park Resorts is not registered at the State of Texas Comptroller or with the Secretary of State. 

If you received a call, email or mail from this company contact the BBB right away. The BBB advises caution when communicating personal information with an unknown company and advises you Start With Trust, Start With BBB to find companies you can Trust.  

TO READ THE ORIGINAL ARTICLE:  CLICK HERE

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2 responses to “Question: Why would you PAY a company TO BUY your timeshare?”

  1. Alica says:

    I spent a lot of time to locate something like this

  2. Danilo says:

    This is actually useful, thanks.

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