ED Magedson – Founder
REALTY TRADE A Subsidiary Of VIRTUAL GROUP INC.14 E. Washington St. #306 Orlando, Florida United States of America
When I first contacted RealtyTrade they promised to market my Mexico timeshare for 6 months for a listing fee of $1395. The company stated that my timeshare was worth in between $14500 and $16000. They also stated that I could expect to sell my property in 2 to 3 months. I decided to list it with them in August of 2009.
The listing contract stated that I'd get my listing fee refunded after 6 months if I didn't receive at least one offer of $14500 or more. My property didnt sell in 2 to 3 months, in fact it didnt sell at all.
Only in January of 2010 I received my first offer of $16000. I emailed the prospective buyer 4 times and still havent received a reply to this day. I also called RealtyTrade 3 times and they said that they were unable to contact the buyer themselves. Even the agent I talked to said that she didnt understand why the buyer didnt reply.
However she insisted that the contract has been fulfilled and I wont receive a refund when my 6 months are up in February. Of course my certified letter asking for a refund was ignored.
Of course my certified letter asking for a refund was ignored.
The buyer didnt reply because he doesnt exist. If the buyer does exist he or she needs to be charged the listing fee and I should get refunded. In Real Estate if you make an offer you put down a deposit and if you withdraw for no valid reason you may loose that deposit.
The system Realty Trade of Virtual Group uses is just a way to get out of having to issue refunds. Frankly I still cant believe I was so nave and bought their whole act. A lesson of over $1000. Anyone wanting to sell a timeshare please dont sign up with any agency requiring upfront fees. Your property wont sell and wont see your money again.
This report was posted on Ripoff Report on 02/18/2010 11:23 PM and is a permanent record located here: http://www.ripoffreport.com/reports/realty-trade-a-subsidiary-of-virtual-group-inc/orlando-florida-32801/realty-trade-a-subsidiary-of-virtual-group-inc-realty-trade-sent-me-a-fake-offer-in-order-571691. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.
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