Buy Owner Resort Marketing- possible CMA scam?

[rikkis_playpen Diamond Club Contributor Find all posts View Profile Close rikkis_playpen]

I was forwarded the marketing agreement and CMA authorization below by a individual who saw the post about the "Pay us for a Title Search" scam..

My recommendation to them was simple.. $495 is a ridiculous amount to pay for a simple CMA (many brokers will do them for free or for a small fee around $50.)..

Anybody else with thoughts on this?

*****************


Buy Owner Resort Marketing, Inc.
2665 N. Atlantic Ave., Daytona Beach, FL 32118
Toll Free: 888-860-3883 Corporate: 386-236-9909 Fax: 386-236-9910


March 2, 2010

Seller Name
Seller Address
Seller City, State, Zip

Thank you for your business on behalf of Buy Owner Resort Marketing, Inc.

As discussed, the Comparative Market Analysis is becoming the “Car Fax” in the Timeshare industry. It is an important document when a potential interested party/buyer requests one, and so with these demanding times we like to have all of our ducks in row when we have such an interested party. In short it’s a request when we say we don’t have one, the customer seems to be a bit standoffish. Also, in a hard economy like the one we are in most buyers will need the help in financing and with the C.M.A. it makes perfect sense because most lenders will request one to show the value when lending. Depending on the lender some may or may not require one to close.
Please sign the form below authorizing Buy Owner Resort Marketing, Inc. to enlist a Title/Licensed Real Estate Broker Company, to prepare a Comparative Market Analysis for you’re Seller Resort

Please fill out the credit card information and sign the authorization form. Please scan and email or fax this form back to our office as soon as possible.


CALL: 1-888-860-3883
Fax: 1-386-236-9910
Email: buyownerresortrealestate@yahoo.com


Buy Owner Resort Real Estate, Inc.,
Joseph V. Ferry Jr., State of Florida
Licensed Real Estate Broker # CQ 1034480,
2665 N. Atlantic Ave., Daytona Bch., FL 32118

ORDER FORM

Quantity: (1) Description: State of Florida, Licensed Real Estate Brokerage,
Comparative Marketing Analysis, Timeshare Resort Property:
Seller Resort
Exchange-Usage-Property Info-Bedroom- Bath-Sleeps
I, THE UNDERSIGNED, HEREBY AUTHORIZE BUY OWNER RESORT MARKETING TO ENLIST a TITLE/LICENSED REAL ESTATE COMPANY TO PREPARE A “COMPARATIVE MARKET ANALYSIS” FOR THE ABOVE MENTIONED PROPERTY. I ALSO AUTHORIZE THAT COMPANY TO CONTACT MY RESORT IN ORDER TO ACQUIRE PERTINENT INFORMATION CONCERNING MY UNIT.

**Please verify that the information stated above is correct. Initial__________

TRANSACTION INFORMATION

Amount of Transaction: $495.00 Approval # (Office Use Only) ____________________

Method of Payment: Visa, M/C, Amex, And Disc.

Seller Name
Address that appears on card: Seller Address

Credit Card #: Exp. Date: CVV:

Authorization / Signature:

X______________________________________________, Date: ____________


Toll Free: 888-860-3883 Corporate: 386-236-9909 Fax: 386-236-9910

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

Anything $ 100 and over would be excessive. There was a fellow in Florida who did appraisals of timeshares a few years ago and he only charged $ 50 or $ 75 dollars. A comparative market analysis sounds more like something that could be done using Ebay or other property transfer history. Expensive appraisals have been the integral part of a few timeshare scams.

[rikkis_playpen Diamond Club Contributor Find all posts View Profile Close rikkis_playpen]

Looks like the same group again... State raids their call center..

Ormond Beach Timeshare Call Center Raided - County By County News Story - WFTV Orlando

[gigi52266 Junior Member Find all posts View Profile Close gigi52266]

I was a sucker for this one too!

In January 2010, after receiving many telephone calls and emails wanting to sell or rent our Hilton Timeshares, we began talking to the company Buy Owner Resort Marketing. We were given a line by a guy who called himself Wayne --their top salesperson! We did not want to sell only rent. (timeshare) He was to get us $3800 per week and had a guy in his office that day. Time was short because of the Daytona 500 being in town. I knew better but did it anyway. Then after six months, hearing nothing, we began contacting them. No response of course. And, since we live up north, we had no idea what was going on. I am doing research now to see what recourse we have, which is how I found this forum. Any suggestions?

[cheryl20772 Junior Member Find all posts View Profile Close cheryl20772]

Also, in a hard economy like the one we are in most buyers will need the help in financing and with the C.M.A. it makes perfect sense because most lenders will request one to show the value when lending.

If people require "financing" in order to buy TS in today's market, IMO, they need to stay out. If you can't pay $2,000 or much less for a TS, how will you ever afford the MF and taxes?

Verbiage like that is nonsensical in today's TS market. They are reaching out to feed on those who are disillusioned already and believe their TS is worth $10K or $20K. Tells me immediately they are scammers trying to take advantage of ignorance.

[cheryl20772 Junior Member Find all posts View Profile Close cheryl20772]

He was to get us $3800 per week and had a guy in his office that day. Time was short because of the Daytona 500 being in town. I knew better but did it anyway. Then after six months, hearing nothing, we began contacting them. No response of course. And, since we live up north, we had no idea what was going on. I am doing research now to see what recourse we have, which is how I found this forum. Any suggestions?

Gigi, I'm so sorry you got scammed. Report to all the usual sites like FTC, Attorney General, BBB, anywhere you can find to report. Tell others not to do business with this company. It looks like your money paid for a hurting lesson. These people took advantage of your bad situation.

If you search around online you can find out what your timeshare can rent for. You will need to price it on the low side to get a taker. This is a buyer's market. That means too much property and too few buyers (or renters).

If you read more in this forum, you can learn how to optimize your advertising to get your share of what is out there. What happened to you is depressing, but don't let it get you down. Just resolve to get on top of this situation and keep reading here.

[gigi52266 Junior Member Find all posts View Profile Close gigi52266]

Thanks for your support

We have owned our Hilton Timeshares for several years and we are not unhappy with it. We just had a bad experience with this one company because of our own stupidity. It would have been helpful if Hilton had notified us along with RCI and others who monitor this type of activity. I notified ARDA and they acted like they did not know their name was being used. I find that a little hard to believe after all these months. But it was a lesson learned. What is that old saying "If it sounds too good to be true, IT IS!" We do not want to sell, ours are paid for,but will consider renting out in the future.

[rikkis_playpen Diamond Club Contributor Find all posts View Profile Close rikkis_playpen]

File a complaint with the Florida Attorney General.. You can do so on this page:
Florida Timeshares - Home Page

[Dennis & Yvonne Wilder Junior Member Find all posts View Profile Close Dennis & Yvonne Wilder]

Help, we're new to all this

OK, so about 4 years ago we got suckered in, thought we could use the week to go somewhere else. So, of course, nothing was ever available where we wanted to be when we wanted to be there.

Now we want to just get rid of the darned thing, OnS. We paid a bunch, have had several opinions as to current worth (probably over-stated to get us to pay an up-front marketing fee), have looked at ebay pricing (yikes!). So what's the best way to get an accurate estimate of current value and then get it moved without losing our shirts? Do these sell through realtors? I'm in real estate but we don't have timeshares in our market, so I really am clueless. Someone mentioned a CMA: with timeshares that are deeded, can one get the info from the county and state where they are located?

Need some good advice asap, since ours is a ski-season week and now would be the time to start the marketing.

Thanks, in advance, for the help you all give us.

Yvonne of Dennis & Yvonne

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

You can ask what the membership thinks it's worth. Most timeshares are worth $ 5,000 or less and the non-top season or unrated resort weeks seldom get above $ 2,500.

All real estate (deeded) transactions are recorded in the local area town/city halls. I'm not sure about RTU properties.