Timeshare Escrow Companies: Scammed by Taylor Trust Company
New forms of timeshare fraud are being developed by scam artists every day. Learn the new trick used by these swindlers to keed getting money from people that all they want is to sell their timeshares and be done with it.
Mexican Timeshare Solutions has undertaken and investigation into the legitimacy of many companies such as:
Wade Capital Management
Taylor Trust Company
Advantage Trust International
Continental Resources - Eagle Marketing
United Assets Group, Blusky Management, A! Financial Solutions - World Luxury destinations
These timeshare escrow service companies claim to be involved with timeshare ownership sales and to be a "timeshare closing company". MTS has received several calls from clients and the office of the General Attorney from Florida requesting our assistance into this matter.
These so called "timeshare closing companies" contact timeshare owners and claim to have a buyer ready to purchase their property for much more than what the timeshare owner paid for in the first place. They send phony documents from Secretaría de Hacienda (IRS) and PROFECO (BBB) requesting to pay for taxes and timeshare fees in order to get their timeshare sold. Obviously, these fees are paid upfront and are anywhere from 5% up to 30% of the selling price and usually need to be wired transfer to an address in Mexico. Wiring money is the same as handing over cash; once you have paid for it, it is irretrievable.
If a timeshare owner pays for it, it is more likely this person will never receive any money from the sale of the timeshare. The reason for this is because there was never an actual buyer. These timeshare transfer companies created this scheme to get the money clients paid supposedly to the Mexican IRS. This scam modality is becoming more popular over time and it is very important to educate timeshare consumers not to fall victims on these deceitful practices.
Taxes and fees for selling a timeshare in Mexico
Since in Mexico timeshares are a right to use and not really real estate purchase, There are NO FEES to be paid to the Mexican Government, the Mexican IRS or PROFECO. In fact, the only timeshare transfer fee a Mexican timeshare owner might need to pay is the transfer fee the resort will request in order to change the name of the contract to the new owner.
Do I need to use the services of a "timeshare closing company" to sell my timeshare in Mexico?
Unlike owners who own timeshares in USA or Canada, in Mexico, most times all that is needed is a simple request to the customer service department of the timeshare resort to transfer the contract to a new owner. The resort will accept this for free or for a charge that might exceed a few maintenance fees.
Advice for owners wishing to sell their timeshares
Don´t agree to anything until you have had a chance to check out the company who contact you.
Ask for all info in writing.
Ask if this company is licensed to sell real estate. Deal only with licensed real estate brokers and agents and check their credentials.
Accept reality, timeshares are a family investment and not a financial investment. A timeshare sold on the secondary market will never be sold for the original retail price. People who expect to sell their timeshare for more than what they purchased for are the best targets for these fraudulent organizations.
About Mexican Timeshare Solutions
Mexican Timeshare Solutions is an organization that seeks honest standards for honest timeshare sales behavior. MTS offers assistance to cancel timeshare contract. MTS provides free consultations and works strictly on a contingency basis to provide the assuredness to clients that MTS will work on the client´s side. MTS has been in business for 18 years and has helped thousands of clients cancel their timeshare.
If you have been contacted by anyone claiming to have a buyer for your timeshare, contact Mexican Timeshare Solutions for a free consultation.
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