First Capital Financials First Capital Financial Timeshare Resale Scam Los Vegas, Nevada

7th of Nov, 2011 by User910701

The following two items can be easily discovered: (1) names of owners of timeshare units and (2) the date when bills for annual maintenance fees are to be sent out. Possessing this information, First Capital Financials contacts unit owners stating that there is a buyer for their timeshare unit if they wish to sell, thus also relieving them of the obligation to pay the maintenance fees. The scam worked like this: First Capital Financials stated that they have a willing buyer who will pay for the unit about $5,000 more than the original purchase price. This makes the prospect of a sale all the more attractive â€“ especially with the immediate prospect of paying the maintenance fee. First Capital Financials would handle the sale of the timeshare unit if I advanced them $2,260 for title search and other details relevant to the sale. They stated that this money would be refunded to me at the time of the sale and a letter of intent was sent in convincing â€œlegaleseâ€ specifying this. This, of course, contrasts with the usual real estate sale methodology in which the buyer pays such up-front costs rather than the seller. On the advice of my attorney, I contacted the resort and was told that this is a common scam of which they are well aware.

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