Upstate, SC - June 14, 2012 - Consumers that are trying to sell their timeshares need to be wary of companies out there trying to take their money. Consumers from other states have alerted the Upstate BBB to a company, Financial Enterprises III that have indicated on their website http://financialenterprisesusa.com/main.html
and contracts they are located in the Greenville, South Carolina area. Consumers state they are to mail a cashiers check for legal fees overnight using UPS or FEDEX to the company. "There are unscrupulous people out there offering to sell timeshares that use deceptive sales tactics to swindle unsuspecting timeshare owners", said Vee Daniel, President of Upstate Better Business Bureau.
The BBB has found that there is no one located at the address given by the company and according to the Real Estate Development company hasn't had anyone there for years. "We called one of the supposed testimonials only to find that no one by that name exists at that company. We have also checked with the SC Department of Real Estate and they do not have a SC license to do business in the state", stated Vee Daniel.
Additional research, lead the BBB to another company, Financial Advantage Resource's, website http://www.financialadvantageresources.com/main.html
almost identitical to Financial Enterprises III website making the same type of claims.
The BBB Offers the following tips to timeshare owners looking to sell:
1) Use a Business You Can Trust
- Make sure you use a BBB Accredited Business or that the BBB has a report on the business and they have a good rating with the BBB. Check out a business's BBB Business Review at www.bbb.org
2) Confirm Licensing Agreements
- Every state in the U.S. now considers timeshare to be a real estate transaction. Confirm where the company is located and that the company's salespeople are licensed to sell real estate in that state.
3) Get the Facts on the Figures
- Find out what fees are included in the selling of your timeshare. Does the business charge a commission, handle entire closing and provide escrow services? Do they charge an up-front listing or advertising fee? What is refundable? Be wary of fake guarantees.
4) Be Wary of Upfront Fees
- Be wary of companies that may charge an advance fee for services such as appraisal, legal fees, etc. Consider using a company that offers to sell for a fee only after the timeshare is sold.
5) Don't Fall for the Hard Sell or an Offer Too Good to Be True
: Don't agree to do anything over the phone. Ask the salesperson to send you written materials and take your time checking out the contract, etc. Don't feel pressured and be wary when if the company offers more money to try to get you to sign with them.
To check the reliability of a company
and find trustworthy companies you can trust, visit www.bbb.org
BBB's mission is to be a leader in advancing marketplace trust. BBB accomplishes this mission by creating a community of trustworthy businesses, setting standards for marketplace trust, encouraging and supporting best practices, celebrating marketplace role models, and denouncing substandard marketplace behavior.
BBB's that earn BBB accreditation contractually agree and adhere to the organizations high standards of ethical business behavior. BBB is the preeminent resource to turn to for objective unbiased information on businesses and charities.