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Richard
Richard, Attorney
Category: Legal
Satisfied Customers: 53976
Experience:  Attorney with 29 years of experience.
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My question has to do with selling a Time Share in Pto.

Customer Question

My question has to do with selling a Time Share in Pto. Vallarta, the office that is handling the sale is locate in Denver Co. and the escrow Co.is also in Denver. I ask a lot of questions, but now I have became a little stress out with the situation, the escrow officer, has asked me to wire transfer monies to a well known bank in Mexico at first I thought it makes sense that they have same fees, then, they email me an addendum to Guaranteed the Resale/escrow agreement for same kind of tax called IVA and that was for a total of 16% of the price of the Time Share, I argued about that, but as you can see, now they send me another Addendum claiming that the Mexican Gob. is also charging for Closing and Administration Requirement fee and that = to 12.3%.
Now I have told them that I have no more money, and because we have Contract, they are making my life misserable.
I need help, this is a horrible thing that me and my husband are going through.
For your attention, and understanding, I will be very, very Thankful, Marilu Rodriguez
Submitted: 6 months ago.
Category: Legal
Expert:  Richard replied 6 months ago.

Hi! My name is Richard & I will be helping you today! It will take me a few minutes to type a response to your question. Thanks for your patience!

Expert:  Richard replied 6 months ago.

Good afternoon Marilu. Here's the thing with these companies. You should never send them any money up front. If they want you to pay up front, you pretty much know it's a scam. If there is really a buyer purchasing your time share, they can simply deduct the fees from closing proceeds. The fact that they want them up front tells me they have no closing planned. All these companies know that timeshare owners are desperate to unload their timeshares and the maintenance fees that come with them and they take advantage. You should tell them you will not put up any more fees and that if there are any additional fees, they need to be deducted from the closing proceeds. If they do not agree on that, they simply intend to take your money. And, in that event, you want to raise the stakes on them. Send them a certified, return receipt requested letter detailing the history, informing them of the above, and demand they either close under the contract with any fees coming from the sale proceeds or refund all your money as no fees are due for a real estate closing if it doesn't close. Inform them that if they do not comply with your demand within a short specified period of time, you will have no choice but to file a formal complaint with the Colorado attorney general and file suit for your damages. BUT, be sure to specifically mention that you will be filing this claim not only as a breach of contract case, but also as fraud and deceptive trade practice causes of action, which will entitle you not only to your damages, but also an additional amount equal to multiple times your actual damages as punitive damages. That should provide plenty of incentive to comply with your demands; but, if it does not, file your suit. Even if you have to file the suit, that's likely all you will need do. In my experience, they will settle this without a hearing rather than risk punitive damages and the fraud and/or deceptive trade practice judgments being on the record.

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