Need guidance on Sale offer

[tws Junior Member Find all posts View Profile Close tws]

We own at Club Regina, Puerto Vallarta, and had a call the other night from this company,Leisure Resort Specialist - Time Share - Vacation, asking if we might be interested in liquidating our timeshare. I said sure, send me the information, and I will look at it.

A few questions were asked, and they emailed me an offer to purchase my timeshare, essentially with the money being given to me first, then I give them back 5% commission. If I am interested in their offer, email them back yes or no......and they will send me a sales contract. Leisure Resort Specialist will conduct a title search and verification prior to transfer of ownership conveyance adjustment by Leisure Resort Specialist and the owner.
I highlighted that portion which came directly from the email that was sent to me.


Of course, I am skeptical about most everything, and first thing I think of is a scam, but there is no funds from me until property closes, and I get my funds, then they get 5%.........generally, things that sound too good are....but maybe this is legitimate. I just don't know.

Have done a number of searches on this site and others for information about this company and haven't been able to find anything. Checked the BBB office in San Francisco, where this company is located. It is listed in the BBB database.....they are not members, but the BBB doesn't have any complaints about this company either.

So, I am turning to the experts here for some guidance, and comments. I am indeed ready to get rid of our property, but do not want to go from the frying pan to the fire.

Thanks in advance.

[tonyg Goomba & Super Moderator Find all posts View Profile Close tonyg]

Title search on a Mexican timeshare ?!?
My guess is that they will be asking for some fee and then the sale will fall through and you will not get a refund. However, every once in a while there is a legitimate deal out there. If you choose to proceed- pay them nothing upfront and any fees should come off the proceeds.

[fishingguy Member Find all posts View Profile Close fishingguy]

I wouldn't expect a whole lot from the BBB or other reporting sites since the website domain was only issued in August. In addition, the domain name expires next August, which is not atypical for a typical real estate/rental company that plans to be around for a while? Lastly, the BBB in San Francisco only became aware of it in October and their report is 'not rated' because there just isn't enough to report on right now.

I'd be concerned that they'd want you to pay for the title search, even if a buyer wasn't found or they didn't buy it themself, which is a common scam. They could claim that it was for a service that needed to be performed -- and not an upfront fee. That would make it very difficult for you to dispute later, when nothing happened and you still owned the property.

[Glitter Brunello Super Moderator Find all posts View Profile Close Glitter Brunello]

It's the "new black" in timeshare ripoff schemes. Everyone's been tipped off to the boo-hiss of "upfront fees," so these are disguised to sound as if there is nothing paid up front by the seller- no commission, etc... But several reps that have called me (when I've had time to play) eventually admitted they would need title fees, exorbitant imo, paid by the seller. This is not to say I have any direct experience with the "broker" mentioned in the OP, just a reminder. Caveat Emptor.

[philsfan Administrator Find all posts View Profile Close philsfan]

When you click on 'Search Listings' on their web site you will see that they have none. That's a red flag.

[JWC Super Moderator Find all posts View Profile Close JWC]

They are going to charge you an inflated fee for the title search, etc. A title search is meaningless on a Mexican timeshare as they are RTU and not deeded properties. After collecting the fees, you will probably never hear from them again.

[tws Junior Member Find all posts View Profile Close tws]

Well, this is why I posted my question. I appreciate all the comments, and you all have reenforced my doubts. I have no intention of signing anything, or paying anything upfront to anyone.....and even though I would like to get rid of this property, since we really do not use it......not willing to go from frying pan to the fire.

I am treading carefully with this....but am curious about their next step.

[atocean Junior Member Find all posts View Profile Close atocean]

I also own at Club Regina (Cancun) and received an offer out of the blue from the same company. They claimed that they are looking to purchase 100 total units. Have you contacted Raintree/Club Regina to see if they have any knowledge of this company?

The hairs on the back of my neck are up....I'm pretty sure I'm just going to ignore all of this, but please let me know if you hear of anything indicating they are legitimate.

Thanks!

[tws Junior Member Find all posts View Profile Close tws]

I also own at Club Regina (Cancun) and received an offer out of the blue from the same company. They claimed that they are looking to purchase 100 total units. Have you contacted Raintree/Club Regina to see if they have any knowledge of this company?

The hairs on the back of my neck are up....I'm pretty sure I'm just going to ignore all of this, but please let me know if you hear of anything indicating they are legitimate.

Thanks!

I just sent them an email back, saying thanks but no thanks. A fairly easy decision to say no after all the feedback here, coupled with the fact they are offering me about 3K more than what I paid for it 14 years ago. It just doesn't fit, combined with the fact, you can go to ebay, and see folks that are essentially giving their week away for $1.......and no takers.

I would love to be able to shed this thing considering we just do not use it.....but maybe down the road, we can find something/someone legitimate to take it off our hands that can use. It is a great set of properties.......but our interests lie elsewhere.

Just after finishing this post, got a call from this outfit....wanting to know why I wasn't interested.......they said they could possibly work with me on the numbers...or something like that.....but I said just not interested. They then abruptly ended the call....with a thanks for your time. I assume they are moving on to their next "customer"

[T. R. Oglodyte Moderator Find all posts View Profile Close T. R. Oglodyte]

I also own at Club Regina (Cancun) and received an offer out of the blue from the same company. They claimed that they are looking to purchase 100 total units.

Looking to buy 100 units at some timeshare resort??? Sounds like the Sierra Rentals and Resales/Club Velas Vallarte scammers are back in business. Read this thread for the gory details and to see how a bunch of people refused to believe it when they were told they were throwing away their money.

[mshatty Super Moderator Find all posts View Profile Close mshatty]

Also, this sounds like a take off on the fake cashier's checks from overseas. You deposit it and send a portion back to the sender of the check. Three weeks later you find out that the cashier's check is fake and you are stuck with paying your bank the amount of the cashier's check.

I am highly suspicious that check you would receive from this company may not be any good.

[dab Junior Member Find all posts View Profile Close dab]

I received this offer also

I am glad I was able to find this thread. I too would love to sell. They said no money up front. They send you a check (you can open a new acct. to put it in). They pay all title search fees... I'm trying to find how I can get burned and have not been able to. Would love to find another one of the "chosen 100" regina members who tried this! Thanks.

[karlseibel Junior Member Find all posts View Profile Close karlseibel]

Club Regina

I also own at Club Regina, Cancun, and received a phone call followed up by an email offer today for a few more k than I paid for it. I'm thankful that I found this forum, because I couldn't figure out the scam. I'd be interested to know if anyone has had a positive experience with Leisure Resort Specialist.
Thanks,
Karl

[aliikai2 Super Moderator Find all posts View Profile Close aliikai2]

The definition of insanity

Is doing the same thing over and over again and expecting different results.

This group and any other group or company that calls you and offers you more that you paid retail for something that won't sell for $1.00 on Ebay is only attempting to part you from some more of your money.
Period,
there will be no magic solution, no silver bullet, no Santa Claus that is going give you this money.

The best rule to follow is that one that all our elders told us when we were young," If it sounds too good to be true, it probably is"

Greg

I also own at Club Regina, Cancun, and received a phone call followed up by an email offer today for a few more k than I paid for it. I'm thankful that I found this forum, because I couldn't figure out the scam. I'd be interested to know if anyone has had a positive experience with Leisure Resort Specialist.
Thanks,
Karl

[merkfritz Junior Member Find all posts View Profile Close merkfritz]

Leisure Resort Specialist

I too was contacted by a Mr Gary Shepard at Leisure Resort Specialist. I received a series of documents, from the branch manager at Banamex, Mexico City, the escrow/taxes handler, a purchase offer. I am in the process of checking the validity of these documents. They want me to pay the 14.3% Mexican income tax by wiring it to the escrow handler. I can email the documents that I received.

I had contacted an attorneys office in LA and was told that LRS needed to be a licensed Realtor in CA, upon submitting to the CA website, I find that they are not licensed.

My guess is that it is a scam. I am awaiting a reply from a real estate company familiar with Mexican timeshares.

Mike Erkfritz
merkfritz@yahoo.com