First Properties of New York
is Running a Timeshare Scam

first property management new york timeshare fraud

When the Cannefields were solicited by telephone by a man going by the name James Buchanan they had not yet considered selling their timeshare. Although they hadn’t used it in several years, they were still paying maintenance fees and hoped to use it again when their scheduled allowed.  Buchanan immediately offered to purchase their timeshare for $49,960.10!  An unrealistic price tag for a one bedroom suite at the Pueblo Bonito Los Cabos, but the Cannefields didn’t know how much their timeshare was worth. And considering it was a  such a substantial offer for a luxury item they weren’t even using, they decided to consider the broker’s offer.

Several hours later Buchanan sent this email:

Embedded in this email you will see a "Letter of Intent", showing information about your membership and an offer amount. Feel free to verify that the information is correct.

This proposal does not carry any legal weight, by signing you are not relinquishing your rights as an owner or committing to the deal, you’re simply letting us know that you are interested in this offer.

Also, we need a copy of the front page of your contract which contains details like the purchaser name. It will allow me to solidify this transaction with our client and move to the next step.

I will contact and update you on the next step of the process, as soon as you can, please send back your signed letter of intent and proof of ownership. If you have any questions, call me or leave a voicemail at 1-866-898-0995.

Best regards,
James Buchanan


first properties new york timeshare scam
Click the Image to Review the Documents

The Cannefields complied with Buchanans request and sent over their contract details. Over a week later they were sent a “revised” offer for $25000 but this time it was from Agoda not FPNY. Agoda is actually a hotel booking service, not a timeshare agency, or timeshare resort-group.

Using Agoda’s brand name was just a lack-luster attempt by FPNY to fake legitimacy using a well-known brand name service.

Something was off to the Cannefields this time.  They were suspicious of the different purchase offers, steep drop in sales price, and the generic nature FPNY’s website, which focused on property rentals. No where on the website is a single mention of timeshare sales or services.

After doing some brief  research online the Cannefields found our timeshare scam database and called for help. We reviewed their contracts and website and were able to confirm that First Properties New York was sending bogus offers from their office and impersonating the Agoda brand to and posted in an attempt to get the Cannefields to wire money for “closing fees”.

We are now helping the Cannefields to get rid of their unwanted timeshare and they can rest easy knowing they will never be a target of a timeshare scammer again.

Interestingly enough, the Cannefields had not listed their timeshare on a listing site. These sites have become popular hunting grounds for scam artists to gather info timeshare for sale and gather the owners contact information.

Although many listing companies are legitimate an offer a convenient way to list your timeshare for sale, that doesn’t mean the inquiries you receive are from individuals who are truly looking to buy. A scammer may be using the same site to gather pertinent info, only to solicit you with a phony offer months later, claiming to be a broker or a representative from a “property management company” or “timeshare brokerage”.

first properties new york timeshare scam II
A suspicious location for a timeshare company no signage to prove this is really is the First Properties New York office.

That is why due diligence is so important when reviewing a potential timeshare purchase offer. Check the website, do a Google search for reviews, Google the broker’s name and look for him/her on LinkedIn, and using Google Maps to view the address can help you better determine who exactly, you are working with.

In this case, the address was suspect as it showed an office in mid-town Manhattan.

What to do if you receive a call from a reseller

We want to urge you to be cautious when dealing with resellers who approach you with solicitations for your timeshare. You should always exercise skepticism when a reseller A. offers you more than paid for your timeshare B. claims to already have multiple buyers lined up for a property, or C. makes a promise to sell a timeshare within a specific time frame.

And here are several more important guidelines to follow, courtesy of the Better Business Bureau

  • -Avoid companies that ask for an up-front fee.
  • -Reach out to Better Business Bureau or the Division of Real Estate and ask whether the company that approached you has previously been reported as a scam.
  • -Verify with your state’s Real Estate Commission that the broker is properly licensed.
  • -Look for businesses that provide a physical address (a PO box is not sufficient).
  • -Reach out to past clients for references.
  • -Ask for everything—refund policies, sales agreements, etc.—in writing.
  • -Be wary of brokers who consistently find excuses not to meet in person or speak over the phone.

If You’ve Been Scammed

 


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  1. Thank you for putting this website up. There is so little ways to verify a company. This very same scenario happened to me, almost word for word. I did look up BBB, they had a company in business for 6 years,they had a physical address in CO, they tried to explain to me the reason that they were offering me so much money was CEO’s wanted to wine and dine their clients and they did it through excellerated timeshares not necessarily at the site I bought at, ect. I was believing it until the 800.00 transfer wire fee to some place in Mexico up front was thrown in and a 6% commission fee to an agent that wasn’t even mentioned at all. I kept stalling trying to verify info. In the meantime I was contacted again by another company to sell the same unit for half the value of the first offer. I ceased making contact and reached out to my Resort and asked them if they had ever heard of these companies. They said , NO.
    Bottom line “If it is too good to be True, then it probably isn’t.”

    1. Thank you Suzanne, we are so glad you find our timeshare scam alerts a valuable resource. With timeshare fraud becoming more sophisticated, phony websites, impersonating legitimate companies, using real addresses for a fake business, etc., it can be challenging for a timeshare owner to suss out what is real and what is not. But you mentioned the golden rule in timeshare sales, if it sounds to good to be true, run, because it is! Large prices for a resale timeshare are a huge red flag and completely unrealistic. Another great way to verify current resale value of your timeshare is to do a quick check on eBay.

  2. I think I fell into very similar situation
    I need help.
    It’s with Agoda
    It’s also Pueblo Bonito property
    Please contact me
    The bank they said money is in is IBFC in New York.
    They said they released it and it never came to me. Now Pueblo Bonito says I sold my property.

    1. Hi Mary, I will have a Timeshare Fraud Specialist reach out to you. If your resort confirms transfer of ownership, then the sale would be legitimate, but they still could have taken your profits. We will help you figure out your situation on a scheduled call. Thanks for writing in.

      1. MB Realty LLC called me and offered to rent or sell my timeshare for $62K in Vallarta Mexico Signed a contract to sell
        They asked me to send them $6,305 for a transfer fee, so I did ,they opened a trust bank account for me in Mexico ,which I have contacted ,after they asked me to send more money to them for the taxes of $12K
        I didnt go further and stopped the sale .I’ve asked them for my money back but they refuse to. My sales person Aaron Diamond is threatening me saying the Mexician government is gonna charge me a penalty now .

        1. Hi, it’s never a good idea to wire money for a timeshare translocation, of any kind, even a rental. All transactions should take place with a vetted professional and via a legitimate payment system, like PayPal… your case sounds like you may be too late to recoup your funds, but we’re glad to hear you stopped the sale, and refused to wire any additional monies. I will have a Timeshare Fraud Specialist reach out to you, and see what we can do for you.

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