"... We were contacted with a sales price of $28,000.00 for our 1 br 1 bt timeshare condo. We have been approached once for $1,818.oo for closing costs. We were approached again for another $1,500.00 for additional costs. We sent both of these amounts. Now they have asked for an additional $1,500.00, which we have not sent. The man we talked to first was Jerry Clark and the one this time was John Fernandez. phone # of 1-619-906-7283..."
This another example of a common telemarketing scam where timeshare owners are enticed to send a large upfront fee by bank wire with the promise of an unrealistic sale price. Timeshare owners can protect themselves by simply taking the time to perform threee simple steps before paying any type of advance fee to sell their timeshare:
1) Call their timeshare resort for a referral to a legitimate closing agency or attorney, to obtain a realistic estimate of closing costs and transfer fees. In this particular case, the resort in question is located in Tennessee, and the actual cost for deed prep and recording through the attorney owned timeshare closing agency PCS Title would only be $115.
2) Look for current timeshare sellers who are advertising the same resort for sale to get a rough idea of comparables on the market. For this particular resort, there are currently six ads showing on the timeshare classified website MyResortNetwork.com which range in asking price from $1,000 to $2,550. These are asking prices- which means that they have not yet sold! An owner can simply ask themselves if the offer they received is reasonable.
3) If a timeshare owner has completed the two steps above and still believes the purchase offer is legitimate, the final step is always a sure way to weed out the con artists. The timeshare owner can simply offer to pay all the closing costs to a respected closing agency the timeshare owner chooses. This closing agency will then act as the escrow agent for the sale, ensuring that both parties are protected throughout the transaction.
It's unfortunate that this type of telemarketing fraud occurs, but these few simple steps will protect a timeshare owner from the majority of timeshare resale fraud.