Some guy calls you. He wants to know if you'd be interested in selling your timeshare. You Say "yes." He says great I'll call you back in a couple of days with a buyer.
In few days, he's back on your phone saying he found a buyer. He sends (mine was via fax) you several documents explaining who they are, what they do and what to expect at closing. Oh, I forget to mention the form you fill out giving all your bank information so they can electronically transfer funds to cover a title search.
The money form will ask for $499.95 up front, but you'll get $249.00 back at closing. The $249.00 is the fee for the title search. I was lucky. They gave me a discount of $299.00.
Without ever disclosing I was in the mortgage business, I knew no one ever paid for title search fees up front, in the manner they were asking. So I researched the company as much as I could.
The title company they referred me to, US Title and Property at 7333 N. W 54th Street, Miami, Fl 33166 (786) 206-0511 appears not to exist.
Property Advantage is not a real company.
According to Detective Kaplin from the West Hollywood Sheriffs department, the address is a PO Box. The telephone number (s) are all cell phones.
Even with my past experince, I could have been a victim. They make sound so good and easy. Stay safe. Keep your money in your bank account, and do you homework!
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