BBB Exposes Portland-Based Timeshare Exit Scam
July 23, 2019
The Better Business Bureau Northwest + Pacific is warning timeshare consumers of a Portland-based timeshare exit company operating under the name M&T Property Management. This latest
exit scam has cost consumers nearly $37,000 in exit fees.
The BBB found that M&T Property Management is pretending to
be a legitimate resale company offering a quick and easy way to
get out of a timeshare
. Although their website seems
legitimate, offering an array of services, the BBB found that
M&T has no escrow, real estate, property management or
construction licenses in the state of Oregon. In fact, M&T
Property Management has allegedly reinstated a former Oregon
company that has since closed. When the BBB asked the owners if
they ever sold the business, they were told no and that any
associated legal documents were definitely false.
BBB is also suspecting that this is connected to a recently
uncovered Seattle-based timeshare exit scam. They found that
Beach Property Management
is using similar names, contracts,
and the same kind of language on their website as M&T.
Several owners who were looking to sell their timeshare
thousands of dollars to M&T Property Management. One couple was
told by M&T they had buyers looking to purchase their Dominican
Republic timeshare property well above the marketplace value.
"We expected a smooth and prompt closing process, but
instead we were surprised and suspicious when we were advised
by M&T that we must first pay a Mexican Federal SAT tax of
$3,476," this Florida-based consumer reported to BBB, according
The couple said M&T contacted them again
a few weeks later requesting more money for "escrow fees."
All-in-all, the couple paid more than $10,200 via wire
Unfortunately, this case is just one of many
that the BBB is aware of, with victims spanning from Portland
all the way to Florida. It's important to watch out for red
flags when you are looking to sell your timeshare. If it sounds
too good to be true
- it is.
to learn more
from our source.