AEM REAL ESTATE CO.
Complaint 167992 Details

I have been offered a guaranteed amount for the sale of my timeshare plus reimbursement of all bank wire transfers and fees related. (Originally, none were mentioned during the cold call and they promised that no payments of any kind would be needed since the buyer was paying all the fees.)

His name is Peter Williams and he is with A.E.M. Real Estate Company LLC. 22 West Washington Street Suite 1500 Chicago, Illinois 60602-1607 Tel: (312) 386-7747 Ext 6006 Fax: (312) 277-7516 www.aemrealestate.com [email protected]

He emailed me a Timeshare Purchase-Sale Guaranteed Contract in the amount of $36,600.00 USD (I paid $37,750. for it 2 years ago so it seemed reasonable).

He then set up an account with Elite Escrow, Inc. Park Place 5251 West 116th Place, Suite 200 Leawood, Kansas 66211-2011 PH: 913 815-8429 & 8430 FAX: 800 566-6987 www.eliteescrowinc.com [email protected] who will send me the cheque upon closing.

They then asked me to send $995 USD to their Mexican agent for the title search which I did. Their Mexican agent is Global Vacation System S de RL de CV, Av. Real Acueducto 360 A Piso 5, Puerta de Hierro Zapopan Jalisco C.P. 45116.

A week later, they asked me to send to the same agent $2,562 USD to cover 7% fee explained as follows: "Because you are not Mexican citizens or Mexican Immigrants, are selling a timeshare located in Mexico, and are enjoying a profit, the Mexican government requires that you register as foreign investors". A.E.M. Real Estate Company also wrote: "They now place a lien against the escrow account and property until and unless their Foreign Registration Fee is paid" ...

I have since been informed by member services that there would never be a requirement to send a Foreign Investor Tax of 7% in selling or transferring a timeshare. A timeshare is considered a membership agreement with a "Right to Use". There is no title deed and is considered a "lease" for a period of usually 25 or 30 years. According to my resort, I can transfer my timeshare for $100 paperwork fee to any family, friend or other as in a private sale. In the case of a private sale, a legitimate Escrow Company (not Elite Escrow)can be used and all funds should be sent there - and NEVER to an individual or company in Mexico.

Also, according to member services, a lean on any timeshare has never happened since you cannot put a lean on a membership. Why did A.E.M. say that there was a lean on my timeshare (and on the Escrow account) until I pay the $2562. tax to the private company in Mexico? This is totally false.

Last week, I sent an email to Profeco - Consumer Protection Agency in Mexico, and they replied advising me not to send any taxes of any kind to Global Vacation System in Mexico as instructed by A.E.M. Real Estate company. They also advised to contact the Secretaría de Administración Tributaria, SAT http://www.sat.gob.mx/ TEL (+55) 877 44 88 728.

Global Vacation System in Mexico is not a government agency authorized to collect any taxes on the government's behalf and the above office should be consulted. I have already sent Global Vacation System $995 USD for the title search. I fear that I have lost that money and red flags are up everywhere I look. Elite Escrow in Kansas is suppose to be my escrow company but I was asked to send money to Mexico, not to Elite Escrow. And now they want me to send another $2,562. USD to Global Vacation System in Mexico.

I found another report about AEM and Elite Escrow "AEM web registration information reveals that the business is only a month and a half old. (See WHOIS) And their website's ISP number traces to Buenos Aires. There is an Elite Escrow in Leawood Kansas that was incorporated there in 2005 and which shows as an active business in good standing.It also has an A rating with the Better Business Bureau. But you are not dealing with Elite Escrow. You are dealing with AEM. There are NO up front fees necessary for a real estate transaction. No money ever needs to change hands until the closing. Putting money in escrow is acceptable if the escrow agent is legitimate, as here it would appear to be. However, you DIDN'T put the money in Escrow with Elite in Leawood. You are to send it directly to a private individual or company outside of the country. That's not legal and is another sign of the scam."

You may find this report on:
http://www.justanswer.com/fraud-examiner/74ff8-called-sell-time-share-mayan.html

Another similar scam (with variations) is reported on the Washington government website : "Once Resort Escrow Exchange receives approval from the consumer to start processing the transaction, the consumer is presented with a “title search fee” of approximately $1,000, which Resort Escrow Exchange claims is required by the Mexican government. Following the consumer’s payment of this “fee”, further problems blamed on the “Mexican government” occur, requiring payment of more fees. The money from the consumers is typically sent to a bank in Puerto Vallarta, Mexico. You may find the warning on the following government website

http://dfi.wa.gov/consumers/alerts/resort-escrow-exchange.htm

Closing date is in two days. They have not contacted me since last week when I emailed them about the $2562 not being required for the above reasons. I fear I have been taken in and have suffered a loss from another fraud scam. I doubt if I will ever hear from them again. Say goodbye to the $995.

All timeshare owners BEWARE !!! The company names and addresses will change ... and you will be contacted.