International Timeshare Consolidators being investigated

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Better Business Bureau targets International Timeshare Consolidators - Puget Sound Business Journal (Seattle):

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Article from the Better Business Bureau with more information:

International Timeshare Consolidators of WA Leaving Sellers High and Dry

DuPont, Wash. – Nov. 19, 2009 – Consumers in the market to buy or sell a timeshare property should be resistant to too-good-to-be-true proposals from unfamiliar companies. Better Business Bureau has received multiple complaints about International Timeshare Consolidators (ITC); recent reports indicate that the company has a pattern of leaving timeshare sellers high and dry.

ITC contacts timeshare owners by phone offering to assist in the sale of their property, and if interested, the agent or broker collects information to create an appraisal and then makes a bid to purchase the timeshare—usually for an overly-desirable amount. Soon, the company calls back claiming that the transaction cannot be completed because the consumer now owes fees for transferring the title, opening an escrow account or taxes on Mexican administrative fees. After submitting payments, some owners find that their timeshare did not sell or never receive the promised paperwork. Complainants also allege that ITC will not return phone calls or refund money.

ITC advertises the address 601 Union St., Seattle, Wash.—a building which occupies hundreds of leased offices—yet fails to provide a suite number, as demonstrated on its Web site. BBB's investigation yields that ITC does not have an office at this location. Due to the company's absence, building security has witnessed visits from bewildered customers and heaps of undeliverable mail during the last 3 months.

From the International Travel Consolidators website:

Our no upfront fee policy allows sellers to keep free from the stress and high-pressure of handling the whole timeshare sales process. ...

So what they do is the start the "sale "without an upfront fee. But then the "sale" can't be "completed" unless the seller ponises up some money on some ruse.

Pretty similar to the old phony appraisal scam for which a bunch of people went to jail.