Real Estate News
--> New Mexico News
Hustle targeting brokers and owners of time-shares
ALBUQUERQUE, N.M. — The New Mexico Real Estate Commission is warning of a time-share scam that has been targeting real estate brokers and time-share owners with solicitations made through cold calls, email or regular mail. Making the solicitations are ...
Success! — Manage subscriptions
Sign up for our Newsletters
Hustle targeting brokers and owners of time-shares
By Ellen Marks / Journal Assistant Business Editor
Sunday, March 4th, 2018 at 12:02am
...................................................................................................................................................................ALBUQUERQUE, N.M— The New Mexico Real Estate Commission is warning of a time-share scam that has been targeting real estate brokers and time-share owners with solicitations made through cold calls, email or regular mail.Making the solicitations are unlicensed business entities that claim to be a full-service property management company, real estate brokerage or title and escrow company that lists and sell time-sharesThe entities say they’re from New Mexico but cite a false business address in the Albuquerque area, according to an alert from the New Mexico Regulation and Licensing Department.Those who are drawn into the solicitation are “directed to forward various upfront transaction fees to an out of state or out of country, escrow company,” the alert said.Consumers might be drawn in because the callers identify themselves by using the names and license numbers of actual New Mexico real estate brokers, “unbeknownst to those brokers,” the alert said.ADVERTISEMENTDepartment Director Mike Unthank said his agency has received “a surge of inquiries” about these calls.“Time-share fraud is a serious crime, which can cost consumers thousands of dollars,” he said.In New Mexico, a real estate license is required for anyone who gets paid to sell other people’s time-sharesIf you receive a call from someone who says they’re a broker with an offer on your time-share, you can check the license with the state’s Real Estate Commission at 1-800-801-7505.A few general tips, from the commission, for those thinking about buying a time-share:• Be wary of companies that contact you out of the blue, whether it be by phone, mail, email or textSearch online for consumer complaints.• Use extra caution when considering a time-share outside of the U.SIf you sign a purchase contract in another country, you will not be protected by U.Slaws.• Avoid companies that do the following: say you will be able to simply “walk away” from a time-share by transferring it to a third party or give you an unqualified guarantee that they can sell it for you; refuse to meet with you in person; ask for upfront fees before providing services; ask you to pay cash or by wire transfer or tell you don’t need to read or understand the agreement.
? ? ?Here’s another reason to be wary of returning phone calls from someone who doesn’t leave a message.ADVERTISEMENTThe Scam Detector website reports about the costly danger of one-ring calls in which you get a single ring from a number you don’t recognize.The caller hangs up, but those who let curiosity get the better of them and call back may actually be dialing an overseas numberPart of the hook might be that the number looks like it comes from your area.You might hear the following message: “You’ve reached the operatorPlease hold.”If, in fact, you’re dialing to Jamaica or somewhere else across the world, you could get hit up with “an expensive per-minute charge, as well as an international rate.”In a nutshell, people who fall for this are paying a lot of money to talk to scammers, who will then try to bilk them out of more money.
? ? ?If a Deputy Bryce Fuller claiming to be from the Bernalillo County Sheriff’s Department calls, gives you his badge number and then tells you to bring a $1,900 payment to Albertson’s, do this instead: Hang up.The guy is telling local residents that they owe this amount for failing to appear for jury dutyHe is even giving out a phone number that appears to be a legitimate sheriff’s department line.“The Bernalillo County Sheriff’s Office will NEVER call citizens and inform them of a warrant or request any type of payments over the phone,” the office says“Do NOT fall victim to these scams.”Ellen Marks is assistant business editor at the Albuquerque JournalContact her at firstname.lastname@example.org or 505-823-3842 if you are aware of what sounds like a scamTo report a scam to law enforcement, contact the New Mexico Consumer Protection Division at 1-844-255-9210, toll-free
Contact the writer.
From the newspaper
Cease and desist order issued to former Chama real estate broker – May 27, 2014
Real estate veteran busy until the end – Sep 23, 2014
Empty acres, room to grow – Aug 21, 2017
Training series coaches real estate developers – Oct 23, 2017
Subscribe to the Journal for only $10.
CONTACT THE JOURNAL
Submit a news tip
Send a letter to the editor
Submit an obituary
Advertise in the Journal
Subscribe to the Journal
Place a classified ad
RELATED SITES & PARTNERS
News in Education
Mountain View Telegraph
Rio Rancho Observer
El Defensor Chieftain
Kirtland AFB Nucleus
Trending New Mexico News:
Real estate loan oklahoma: online loans: online cash advance
JMP Securities Upgrades Rating On Sabra Healthcare REIT, Inc. (SBRA)
N.M. House GOP Elects New Leaders
NM lawmakers urged to resolve property tax inequities
If Las Cruces gains third Walmart, how will it affect the East Mesa?
Morning Word: Another Lawmaker's Financial Disclosures Questioned
148 clawback suits filed in Ponzi case
Big New Mexico Ponzi Case Results In Guilty Plea
New Yorkers ask if they’re alcoholics more than people from any other state do.
DACC to close Hatch Learning Center
See what goes into closing NM's big real estate deals
A Real Estate Dynasty Passes the Torch
A look at some the victims of the deadly California wildfires
Trial underway in former New Mexico state senator corruption case
N.M. foreclosure starts shrink
4 On Your Side investigates land dealers conning New Mexicans
Executive’s Desk: Assist from Loan Fund gets coffee shop brewing
Updated: Jobs Council offers legislative recommendations
3 New Mexicans to know, and I crave comfort food
Office suites will cater to small-firm entrepreneurs