- Timeshare Discussion Forums
- Ask RedWeek
- Brownstone Enterprises and Mayan Resorts
Brownstone Enterprises and Mayan Resorts
Brownstone Enterprises of Houston, TX, acting for an unknown buyer, has made a generous offer to purchase our Grand Mayan weeks. So far, no advance payment of fees, etc. has been requested. Is Brownstone Enterprises a reputable firm? What questions should I be asking to best ensure my investment in Mayan is protected and I get the money being offered?
Scott Hightower Broomfield, CO
Scott H.
modelrr wrote:Brownstone Enterprises of Houston, TX, acting for an unknown buyer, has made a generous offer to purchase our Grand Mayan weeks. So far, no advance payment of fees, etc. has been requested. Is Brownstone Enterprises a reputable firm? What questions should I be asking to best ensure my investment in Mayan is protected and I get the money being offered?Scott Hightower Broomfield, CO
Don't ask them any questions. Stay away from them. It's very likely a scam. Mexican timeshares have little to no value. There is no buyer, whether known or unknown.
The scam works like this (sadly, we read of this many times on boards like this). They will tell you that they've secured a buyer (which they haven't) and that this "buyer" has put down a non-refundable deposit to ensure the sale goes through.
Then they will some way, somehow, slip in some sort of tax or fee that has to be paid in order to complete the sale. They'll have all sorts of euphemisms for this fee but, in actuality, it's a bogus fee. They might try to reassure you that the fee you're paying is going into escrow and will be refunded to you upon completion of paperwork. In reality, the money gets wired to some entity in cahoots with this scam artist -- if they're not already one and the same. They will then be unreachable after you try to inquire where your money from this alleged sale is.
Remember, their MO is to paralyze you with excitement (ie "has made a generous offer to purchase our Grand Mayan weeks") and stop you from thinking rationally.
Sadly, many people with dollar signs in their eyeballs don't think rationally when they hear these pitches (which, by the way, are usually unsolicited phone calls) and fall for these scams. Don't follow in their footsteps.
Lance C.
Thus far, the activities of the broker and the escrow company seem to fit the pattern you describe. This process began with an unsolicited call from Brownstone Enterprises, which has a Houston address. We get so many timeshare calls that this time I simply said send me an offer. I got the offer the following day along with a non-binding letter of intent. I signed and returned the letter of intent and was then called by the escrow company, Development Funding Sources. According to the web, it's based in Chicago. The person told me the buyer has deposited the money and is awaiting settlement. Brownstone now wants me to have a conference call with a manager to review the contract. Apparently Texas requires it. I've pushed back and asked for references, which are supposed to be on the way to me. If they check out, I will probably proceed with the conference call. I've said I need to know the exact financial details behind this transaction. I've checked the Better Business Bureau in both IL and TX and can't find any complaints against these companies.
lancec13 wrote:modelrr wrote:Brownstone Enterprises of Houston, TX, acting for an unknown buyer, has made a generous offer to purchase our Grand Mayan weeks. So far, no advance payment of fees, etc. has been requested. Is Brownstone Enterprises a reputable firm? What questions should I be asking to best ensure my investment in Mayan is protected and I get the money being offered?Scott Hightower Broomfield, CO
Don't ask them any questions. Stay away from them. It's very likely a scam. Mexican timeshares have little to no value. There is no buyer, whether known or unknown.
The scam works like this (sadly, we read of this many times on boards like this). They will tell you that they've secured a buyer (which they haven't) and that this "buyer" has put down a non-refundable deposit to ensure the sale goes through.
Then they will some way, somehow, slip in some sort of tax or fee that has to be paid in order to complete the sale. They'll have all sorts of euphemisms for this fee but, in actuality, it's a bogus fee. They might try to reassure you that the fee you're paying is going into escrow and will be refunded to you upon completion of paperwork. In reality, the money gets wired to some entity in cahoots with this scam artist -- if they're not already one and the same. They will then be unreachable after you try to inquire where your money from this alleged sale is.
Remember, their MO is to paralyze you with excitement (ie "has made a generous offer to purchase our Grand Mayan weeks") and stop you from thinking rationally.
Sadly, many people with dollar signs in their eyeballs don't think rationally when they hear these pitches (which, by the way, are usually unsolicited phone calls) and fall for these scams. Don't follow in their footsteps.
Scott H.
Lnace has given you the usual senario they use. First they make an offer that is " too good to be true " . Then they set the hook by transfering you to another scammer who sounds legit. They will produce a few false documents to get your confidence. Then the " fee " will suddenly have to be paid before they can complete the transaction. It's the same scam with maybe a slightly different twist. Talking to them will only allow them to convince you that they really have a buyer. Once you sign anything you could be on the hook. Don't get involved with them and you won't lose any money. It's a scam.
Don P.
modelrr wrote:I've said I need to know the exact financial details behind this transaction. I've checked the Better Business Bureau in both IL and TX and can't find any complaints against these companies.
"The exact financial details behind this transaction" will be that they will need you to wire them some money in order to complete some non-existent sale to a non-existent buyer.
Just for the record, any fees or taxes that are required to complete a legitimate sale would come out of the proceeds of the sale. So the buyer (if he did exist) would pay the closing company the amount of the sale. The closing company would then disburse the funds by paying out any supposed fee or tax and then pay you the remainder. You would not have to pay one cent.
Also, the reason why you can't find any complaints against either of these companies with the BBB is because this company is probably newly registered with the BBB and hasn't had time for any complaints to be filed against it.
But if you do do business with them, you will be wondering how to file a complaint against them.
Lance C.
