Any info on Blue Bay Advisors?

I'm a total newbie to TUG--just joined yesterday. I'm getting phone calls from an outfit called Blue Bay Advisers that state that what they do is sell timeshares in groups to businesses. What they want from me is a fee for a title search and an estoppel letter from the resort. Fee for the title search is $290.29 and for the estoppel letter is $220.55 and that I would get the originals and they would have the copies. I've been taken before by resale companies. The fellow I spoke with says an attorney working with Blue Bay Advisers is doing class action suits for people who have been scammed in this way. Looking for some advice from anyone out there who might know something.

Thanks so much.

Sue-Beth

Another group of bandits. Hold on to your wallet.

Edit your post and remove your email address, these types of outfits may troll this site for suckers.

Wolves in sheeps' clothing....

PA- said:

Another group of bandits. Hold on to your wallet.

Edit your post and remove your email address, these types of outfits may troll this site for suckers.

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Good advice...on both points.

Good advice (including removing your e-mail address from your post). See this TUG "how to sell" article for practical advice on how to successfully sell your timeshare without becoming a scam victim.

An assortment of lies...

Re: >> The fellow I spoke with says an attorney working with Blue Bay Advisers is doing class action suits for people who have been scammed in this way. <<
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Utter nonsense, is my personal bet. While the upfront fee "resale" companies are bottom dwelling parasites (at best), their unseemly practices are not actually illegal and are hardly a worthy candidate for a class action lawsuit. Ask these alleged "advisors" for a docket number and the specific court in which the alleged class action lawsuit has been filed --- then wait for the silent pause, a "click", followed by and concluding with the sound of a dial tone.....

Upfront fee "resellers" collect an exorbitant "advertising" fee from vulnerable, often desperate, people who voluntarily pay them for an overpriced listing on an obscure and useless web site. No theft or fraud is involved in that, just a high cost voluntarily paid for "advertising" of little or no actual value. Despicable, shameless, greedy, unethical --- but, unfortunately, not illegal.

Thanks

Thanks so much for the advice and I have edited my post. When money is short, offers like these are so tempting even when you know better. I just wish I had joined this group years ago. I'll keep checking back in case there are any further words of wisdom or specific info on this company. Thanks again.

Sue-Beth

suebeth said:

Fee for the title search is $290.29 and for the estoppel letter is $220.55 and that I would get the originals and they would have the copies.

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As a seller you do not need a title seach or an estoppel letter. They will tell someone if any money is owed on the TS for a loan or Maintance fees. As the seller, I'd hope you already know if you owed money. The fee for these are just a way to try and justify the outfits outrageous fees.

When a buyer is found, that buyer may want a title search & an estoppel letter, which they will normally pay for.

Blue Bay Advisors (Don't Do It)

I was contacted by Blue Bay Advisors after I posted my Timeshare on Craig's List. They told me all about their great standing, fees, etc. I was extremely hesitant at first, but after speaking with Mr. Jim Ryan I found trust in his voice and went ahead with the deal. I requested a signed contract that included the breakdown of the fees. I received the contract soon after that. I signed it then forwarded it back with a check. To make a long story short, the check was cashed in which they claim they never received it, they claim that I was never nor am I a current client of theirs to the BBB. I am now short of $643 and they will not take or return my phone calls. DON'T DO IT!

We too have been taken. We finally put them on Ripoff report so many others will see what happens when you believe people. If we get enough people responding to this and ripoff, we may close them down with class action.