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The State of Washington Department of Financial Institutions has issues a consumer scam alert warning about timeshare escrow scams involving two "companies" working in tandem called Prestige Property Consultancy and Elite Escrow Management
Prestige Property Consultancy will contact timeshare owners with a very high offer to sell or rent their timeshare. The consumer is told that there is no upfront fee, but that a commission will be charged at closing. At this point, Elite Escrow Management is introduced as the escrow and closing company. It's important for consumers to know that Washington State law requires that “any person [engaging] in business as an escrow agent by performing escrows or any functions of the escrow agent” must be licensed by the Department. RCW 18.44.02. Consumers are then "required" to pay various fees to the closing agent, but the promised closing and seller funds never occur. Consumers who question why the funds cannot be taken from the proceeds at closing are often told that it is "against the law" to do so. This is not true.. A timeshare closing process is very similar to a residential closing, in that any seller fees or charges would simply be deducted from the seller proceeds.
Sheral Wales
7/5/2011 02:44:30 am
I have been dealing with PROPERTY CONSULTANT SERVICES addressed at 111 Huntington Ave., Boston and banking at 500 W Lockerman, Dover,Delaware.
Larry Wheedon
7/7/2011 11:02:25 am
I have also been dealing with PROPERTY CONSULTANT SERVICES addressed at 111 Huntington Ave., Boston, and supposedly with a website at: www.propertyconsultantservices.com which appears to be for future use.
Nancy Roget
8/1/2011 09:03:21 am
I have also been dealing with PROPERTY CONSULTANT SERVICES addressed at 111 Huntington Ave., Boston, and the Escrow Company at 500 W Lockerman, Dover,Delaware.
Ryan Holt
8/12/2011 09:57:53 am
I have been working with two groups.
David Stepford
8/18/2011 02:07:42 pm
My sister sold her timeshare in cancun with property consultant services. She at first had problems and I let her borrow some money. But after some really stressful weeks they did their job. She got her money. So they are legit. As for the others I never heard.
agnes crone
9/27/2011 07:52:50 am
I am leery of PCS property consultant services, they call but will NOT give me any information in writing at all. They sent a contract.. i cannot find any lawyers practicing in Boston under the name of the VP legal counsel. Very Fishy.
karen rosen
9/29/2011 04:44:21 am
I was contacted by Accent Event and Legacy closing and they had the scam of the closing costs upfront. Now I am being contacted by PCS.Told them upfront I will not pay anything till after closing. Lets see! Any updated experience with PCS?
Sheral Wales
10/2/2011 02:03:13 pm
Hi Folks:
J Faust
11/8/2011 08:26:28 am
Got and unsolicited call from PCS. The "only" thing they have asked me to pay is the title costs and of course they have a buyer and offer that I want to accept so much it almost hurts. Interesting part is that the escrow agent, who is being paid the title costs, is in Delaware and they want me to wire the title costs to Mexico. Makes no sense. I have been in RE and the previous note is correct. All fees, including the commission, should be deducted from the proceeds. And they are telling me because of the agreement between US and Mexico it cannot. Not certain what I will do but I am almost certain that if I pay the money, I will never see it again. If it seems too good to be true...
N. W.
11/9/2011 03:53:21 am
Hello,
MELISSA OLEJNICZAK
6/18/2012 06:28:21 am
WATCH OUT FOR INVESTMENTS VACATION MANAGEMENT AND SOLUTIONS INTERNATIONAL ESCROW. THEY CLAIMED THEY HAD A CLIENT WOULD BUY 5 WEEKS OF OUR TIMESHARE FOR A MEDICAL CONVENTION BEING HELD AT OUR TIMESHARE. MONEY WOULD BE PLACED IN SOLUTIONS INTERNATIONAL ESCROW COMPANY. WE WOULD BE REQUIRED TO PAY 6% COMMISSION FEE TO ESCROW COMPANY ALSO. MR. VICTOR SOUSA WAS MY CONTACT, ALL SEEMED VALID AS THEY HAD A RESPONSE FOR EVERY QUESTION, BUT SEEMED TOO GOOD TO BE TRUE SO WAS SUSPICOUS. ALSO LETTER HEAD ON CONTRACT HAD ADDRESS OF A HIGH RISE IN HOUSTON WITH NO SUITE NUMBER. i CONTACTED PROPERTY MANAGEMENT COMPANY FOR THE BUILDING AND THEY HAD NEVER HEARD OF THE COMPANY. REVERSE PHONE NUMBER SEARCH ON THE PHONE NUMBERS I WAS CONTACTED FROM WERE ODD, APPEARED TO BE COMING FROM PEOPLES HOMES. DO NOT FALL FOR THIS SCAM 7/12/2012 12:58:25 pm
Was contacted by two different companies in 30 days wanting to sell my TS in Puerto Vallarta. The first was Ashbury Management in Atlanta, GA. The 2nd one was A+ Marketing Group, Dallas, Texas. The latter was this week & stated they represent a corporation who is wanting to buy up Mexican TS in Puerto Vallarta to use for their business promotes & was interested in obtaining the majority of selected Hotel Resorts. His responsibility was the Sheraton Buganvilias. He said his clients wanted 51% ownership in order to have control of the facility. He offered me a hefty $25,954.80 for our 1 bedroom lock off ocean front for the remaining 19 yrs. No up front fees & monies would be place in an escrow & they would receive 8% after we receive our money. Sound sweet, doesn't it! He also said that the corporation could buy directly from the Hotel Resort who would block the transaction once noting what they were doing. 7/30/2012 08:55:42 pm
another story regarding Investments Vacation Management and Solutions International Escrow Services. They definitely have a very smooth sales pitch promising no up-front costs. The transfer fee is paid by the buyer. The only problem is that they want it from us first before they send it back to us. I have checked with notaries in Canada and escrow companies in Washington state and they all say that funds are "normally" held by the escrrow company which pays the costs and the remaining amount is wired to the seller. There is no way to email back to Solutions International even using "reply" which is pretty odd and the toll free numbers either don't work or give the message "all circuits are busy" even at midnight. The old saying "if it sounds too good to be true ...." I have had at least 8 different companies call me requesting the chance to "sell" my property so am wondering if it all the same company doing the same scam. Comments are closed.
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