Resale Offer

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

I received an offer to purchase my points for Rancho Banderas, (small resort in Mexico near Punta de Mita). The company is: Professional Brokerage Services 595 West Jefferson Street, Phoenix, Phoenix, AZ 85007 Phone: (602) 748-4278
Fax: (866) 853-5683.

Has anyone out there ever heard of this company? Is it legit? They don't want any fees up front and their contract states that they will take 5% from the seller and 5% from the buyer upon closing. Price is decent, that's what scares me!

We own two timeshares and wouldn't mind letting one go, just trying to be careful as there are so dang many scams out there!

Any help is very much appreciated!

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

If they don't come back and say

We just need to have you wire the $XXXX for the Mexican Tax or We just need $XXXX for the escrow/title search/deed prep, etc then maybe you might have a deal.
But, if at any time they want you to give them any money tell them to take a hike as then it will surely be a scam.

Greg

I received an offer to purchase my points for Rancho Banderas, (small resort in Mexico near Punta de Mita). The company is: Professional Brokerage Services 595 West Jefferson Street, Phoenix, Phoenix, AZ 85007 Phone: (602) 748-4278
Fax: (866) 853-5683.

Has anyone out there ever heard of this company? Is it legit? They don't want any fees up front and their contract states that they will take 5% from the seller and 5% from the buyer upon closing. Price is decent, that's what scares me!

We own two timeshares and wouldn't mind letting one go, just trying to be careful as there are so dang many scams out there!

Any help is very much appreciated!

[falmouth3 Senior Member Find all posts View Profile Close falmouth3]

Do you have it listed? How did they find you? I'm not familiar with the company, but I would say buyer (seller) beware.

Sue

[barndweller Moderator Find all posts View Profile Close barndweller]

As long as they don't ask for any money, not one dime, up front...then pursue the offer for them to sell for you. How did they find you? Do you have it listed somewhere?

I had a week listed on TUG and got call from a broker. He said he had a buyer lined up. I agreed to let him sell for me to avoid the hassle of paperwork (a Hawaii timeshare) I got what I was asking and he got a huge commission since he sold it for 3x what I asked. Fine with me since I got out from under.

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

Thanks for responding

So far everything looks up front. They want a 5% commission at closing from seller, which will be deducted from sales price. They also get a 5% commission from the buyer, so 10% isn't too bad of a deal for them, a lot better than normal real estate brokers! I received a contract today, looks okay, but would like an attorney to look it over. Does anyone know an attorney who would do so for a fair price?
Again, thanks for taking time to respond.

[fishingguy Member Find all posts View Profile Close fishingguy]

smells fishy.... (hey, I'm fishingguy)

The website professionalbrokerageservices.com was just registered in July and it expires in July 2012. Registered and technical points of contact are in Mexico, you can search whois on Google for more info.

When you try to find the map info for Professional Brokerage Services at 595 West Jefferson Street, Phoenix, Phoenix, AZ 85007 there is nothing there in Google Maps.

When you search for Professional Broker Services on Google, you'll also get hits for Montezuma Vacation Services, which had the same address at one time. When you search on the address listed for Montezuma Vacation Services at 3030 North Third Street Phoenix, AZ 85012 it is not listed as one of the businesses at that location on Google Maps.

The Montezuma website was registered with Enom.com this month -- Enom.com is a web host company that specializes at keeping registration information private and closely held. Why is that????

You won't get any review information on either company, they are too new to establish a track record. You be the judge....

- New website(s),
- 'fuzzy' location info,
- They contacted you out of the clear blue,
- Too new for any review or complaint history, so no track record,
- Using web services that cloak domain registration and other info,
- Similar makings of a pattern seen before with TS scammers; hey they come and go quickly,
- The old 5% from me and 5% from buyer T&Cs,
- Quick to point out that there are no up-front fees, and
- First-time poster on the forum happens to ask for info, etc....

[PigsDad Senior Member Find all posts View Profile Close PigsDad]

You say that they want 5% from the seller (which will be taken out from the sales price), but where do they "take out" the other 5% from the buyer? Why don't they just deduct 10% from the sales price as a commission?

As others said, this sounds extremely fishy. My guess is that they will say the sale went through, and before they send you a check, they will want a check from you for your 5%. That will be the last you will ever see of your money.

Kurt

P.S. It is also quite likely the OP is trying to shill for a company...

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

update

Thanks to everyone who provided comments. Here is the latest on this company...
I was sent a contract last week Monday. I received emails and phone call messages Monday and Tuesday asking when I was going to sign and return. I finally spoke with the agent, Anna Baker on Tuesday. I told her that I wanted to obtain legal counsel prior to signing it. She said that was very wise and that I should definitely seek legal advice prior to signing any contract. Well I got it back on Wed from a gentleman who specializes in contracts and he had red ink all over it. Namely that the paragraph talking about penalty clauses was completely biased towards the company and it would put not only me, but my timeshare at serious risk. The killer was the paragraph that stated that, "In the event that any one or more of the provisions of this Contract shall for any reason be held to be invalid, this will not affect any other provision". I was told that this was the wooden spike and would put me at serious risk. Needless to say I didn't bother to return the contract and coincidentally I haven't heard anything further from Anna Baker since I told her that I had taken the contract to a legal entity.

Furthermore, I found on a Phoenix real estate agent listing web site that her real estate license was revoked while she was working for a Scottsdale agency a few years ago due to 'unproven' allegations of misconduct.

So, bottom line and this needs to be shared far and wide (but I don't know how to notify all of the members of this forum), beware of any offerings from Professional Brokerage Services (PBS) at 595 Wes Jefferson Street, Phoenix, AZ 85007!!!

[barndweller Moderator Find all posts View Profile Close barndweller]

Thanks for the update! If you have a facebook page be sure to tell your story. Word does get out.