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Hi All,
First of all, I'm know this has to be a scam. My primary reason for posting is to get the opinions of some more experienced timeshare folks. I've seen other people get a little disturbed about even discussing such nonsense in these forums but since this seems to be an ongoing practice I feel that alerting people to new companies that may be practicing this is useful.
My wife and I own a timeshare at the Grand Mayan in Nuevo Vallarta that we purchased 5 years ago and have yet to be back. We recently got a cold call from a company out of Sanantonio Tx called W & W Consulting Company and offered us $48K for our timeshare. A quick search on he web and I found that I it's easy to find the same units for sale for much less than that. The domain for this company http://wandwconsultingcompany.com was registered in September of 2012 which adds additional suspicion.
I received a letter of intent that says the 8% commission would be collected at closing and that the purchase price would be escrowed by an escrow agent of the "buyers choice". Here is part of the LOI:
Purchase of Vacation Property: On the Closing Date, the Buyer will purchase from the Owner certain assets of the Owner as identified in the "Guaranteed Resale Agreement", which is forthcoming.
Purchase Price: Buyer will assume the assumed liabilities and pay to Seller a purchase price equal to the sum of $48,000.00 USD. The Purchase monies will be paid through an Escrow Agent chosen by the Buyer and delivered to the Seller on the Closing Date.
Commission: W&W Consulting Company will charge 8% commission to the Owner at the time of closing.
Of course this sounds too good to be true so it must be. Has anyone else heard of this company and/or been contacted by this company? Also, any ideas if I should take the next step to see what the contract looks like?
Thanks all for any advice/insight.
First of all, I'm know this has to be a scam. My primary reason for posting is to get the opinions of some more experienced timeshare folks. I've seen other people get a little disturbed about even discussing such nonsense in these forums but since this seems to be an ongoing practice I feel that alerting people to new companies that may be practicing this is useful.
My wife and I own a timeshare at the Grand Mayan in Nuevo Vallarta that we purchased 5 years ago and have yet to be back. We recently got a cold call from a company out of Sanantonio Tx called W & W Consulting Company and offered us $48K for our timeshare. A quick search on he web and I found that I it's easy to find the same units for sale for much less than that. The domain for this company http://wandwconsultingcompany.com was registered in September of 2012 which adds additional suspicion.
I received a letter of intent that says the 8% commission would be collected at closing and that the purchase price would be escrowed by an escrow agent of the "buyers choice". Here is part of the LOI:
Purchase of Vacation Property: On the Closing Date, the Buyer will purchase from the Owner certain assets of the Owner as identified in the "Guaranteed Resale Agreement", which is forthcoming.
Purchase Price: Buyer will assume the assumed liabilities and pay to Seller a purchase price equal to the sum of $48,000.00 USD. The Purchase monies will be paid through an Escrow Agent chosen by the Buyer and delivered to the Seller on the Closing Date.
Commission: W&W Consulting Company will charge 8% commission to the Owner at the time of closing.
Of course this sounds too good to be true so it must be. Has anyone else heard of this company and/or been contacted by this company? Also, any ideas if I should take the next step to see what the contract looks like?
Thanks all for any advice/insight.
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