Blue Bay Advisors Time Share Brokers offer sounds too good to be true because it isn't! Orlando Florida
Recently Blue Bay Advisors contacted me asking if I would like to sell my time share. The guy's name was Doug. The first question I asked was "What are the upfront costs to me?" Doug said "We work strictly on commission, so there are no up front costs." I asked again. "So, I don't pay anything until you sell the time share?" Doug replied "As I said we work on commission." So I gave Doug some requested info about my 5 star spa in Puerto Vallarta and told him that I would be willing to sell 2 out of the 4 weeks that I owned.
A few days later I was contacted by Blue Bay Advisors, this time by Bill Price. Bill told me that he had a buyer for 3 weeks and would I be willing to sell all three. He offered me about $13,000 per week if I sold all three. I asked Bill about expenses and he said "You pay us a 6% commission." I said that I would talk it over with my wife and let him know.
A few days later Bill called again and said that he had the buyers were still interested and all I needed to get the ball rolling was to send him a check for $730 for a title search. When I said that Doug had told me that there were no up front costs and you received you commission when the property was sold, he said that a title search isn't considered up front costs. He said send him the money and he would fax me the contracts and other paperwork. I said that this sounds fishy. "What if the buyer changes his mind after the $730 is paid to you?" I asked. He said that they would try to sell it for 45 days more. "At the same price?" "Well, maybe not." said Bill. "But if we can't sell it after 45 days, we'll refund your money." I told him to send me a copy of the paperwork, (especially the part about the money back after 45 days) first so that I could have my attorney look it over, and if all looks good I'll send him the $730. He said that it would be sent via e-mail the next day.
Well a week passed and no paperwork. I called the toll free number and got a message welcoming me to Blue Bay Advisors, and stating that all agents were busy, but please stay on the line to leave a message. After a few seconds another message advises me that the mailbox that I selected (I never selected anything) was full and not accepting any more messages. I have since called 7 more times at various hours of the day, and hear the same phone message and full voice box every time.
Although I have not lost any money, the message from Blue Bay Advisors is clear; Caveat Emptor-let the buyer beware. If the offer sounds too good to be true-it probably isn't. This "business" seems to be yet another of many disreputable agencies who take advantage of people with time share woes, employing fast talk and empty promises. If you remember, it was this kind of talk that got you into your time share problem in the first place. Don't fall for this again. Don't let Blue Bay Advisors make you throw good money after bad.
Mk
College Point, New York
U.S.A.
5 Updates & Rebuttals
Joe Esposito
Orlando,Florida,
U.S.A.
** FORMER EMPLOYEE IS POSTING LIES **
#6UPDATE Employee
Mon, September 15, 2008
We continue to be plagued by these rash of postings by a former employee named Katie Erkens that has criminal charges pending against her in this County for Fraud, Forgery, & Theft.
Anyone over 14yrs old can post on this site without any sort of proof.
I strongly urge anyone that reads this to take into account that one criminally minded person is attempting to ruin a good company.
Further, our company will continue to hold ALL of our employees to strict sales Ethics & Guidelines and will continue to fire anyone (WITHOUT PAY) that does not adhere.
Regards,
Joe Esposito
Mc
Orlando,Florida,
U.S.A.
Nothing but a SCAM, lies and empty promises! Do not give them your credit card!
#6UPDATE EX-employee responds
Tue, August 26, 2008
Timeshare owners beware!! Do not trust this company!!! They are first rate scam artists! LIES LIES LIES!!!! NSFs, bounced checks, no refunds, not paying employees!
Joe Esposito is trying to go under another name doing the scam again. "Boiler Room" style Eventually trying to phase his brother, Salvatore Esposito, out completely. Nice family. They even use fake names. Alias include: Peter Miller, and Jim/James Ryan so watch out for that.
Sal Esposito spends everyday at the bar. Comes in maybe once a week. He is such a drunk he walks into the office and the whole place smells like liquor. They also are BIG drug addicts. Spend all their company money on drugs and their employees sell it.
I left the company and they said they had to "hold my money" for a certain amount of days. In actuality they don't have any money because of all the drugs and "downtown lifestyle" they TRY to lead. This guy Joe lives in The View downtown, one of the most expensive places out there. But he can't even pay his employees!
They also use Company Trader USA as their BBB name so you can't find all of their complaints. They even used the BBB logo without permission on the web page and are facing charges with that as well.
They will call you with their, "Customer Service" saying:
"We have had some interest in your property. We also have a buyer that is going through financing we just have to wait on approval. Send your contracts in so that we can disclose offer to you. We can't legally disclose any offers to you until you sign the contract."
This is a complete lie. They have NEVER sold one property! They just need you to send your contract back because it's harder for you to win a chargeback with your credit card company if you have signed a contract.
If you try to call them they dodge and avoid messages. I moved away and I have tried physically to go and get my paycheck, driving for long periods of time and they dodge me too! Try calling and getting anybody on the phone! They will probably only give you their foolish receptionist Katie Tucker and she will blow you off with her lies too!
As for their "Title Search" and "Estopple Letter" you don't need these documents until you close the property. Try calling your resort and find out how much they cost. The $800, $1,350 they try to charge you or even $100 dollars is a lie! These documents only cost about $5 each.
They have NO magazine! Timeshare Trader USA is just a fake concoction that they use to get people's money. They have said this magazine will open up next soon for MONTHS!!! As well as conventions. Only licensed real estate brokers and people that have paid for a booth at a convention can actually sell at these places. Plus who would buy a timeshare at a pet expo? Ridiculous!
This company has no sales ethics and no soul! I worked here for a couple months and did go along with it. But now I realize that what they are doing is so beyond wrong. Both of them need to go back to jail where they came from!
Jo Esposito
Orlando,Florida,
U.S.A.
* Ex-employee is posting these ERRONEOUS Reports!!! *
#6UPDATE Employee
Thu, July 10, 2008
Please accept this posting as TRUE & ACCURATE.
The RIPOFF REPORT is designed to provide a forum for customers or potential customers worldwide to voice their concerns, experiences, etc regarding ANY Registered busines. All it takes to Register is an email address.
Regarding this specific matter, all information in the originally compaint was addressed thoroughly. It has absolutley no validity and it is a shame that just ANYBODY can write false claims regarding our Business.
We work closely with the BBB in Central Florida on resolving ALL Complaints as they are filed, we RESOLVED each & every one in our entire history-to-date. The total number is single-digits (9) and all information regarding are public record and have been promptly resolved. The "hint" that the BBB takes bribes is RIDICULOUS and proves that these series of postings are from an immoral person that holds a grudge.
It is our hope that anybody researching our company does it thoroughly and they will see who the "real scam artists" are.... former employees fired for their sales practices & lack of integrity.
Please contact BLUE BAY ADVISORS for more information on our company and we will be glad to provide any/all information on these issues. Hopefully, they do not persist and we are looking into legal action to prevent these circumstances in the future.
Thanks & Regards,
Joe Esposito
Anonymous
Orlando,Florida,
U.S.A.
This report is ACCURATE & TRUE
#6UPDATE Employee
Fri, May 02, 2008
The owners of this Blue Bay Advisor's, Sal & Joe Esposito are first rate scam-artists. They are not only experts at ripping off many timeshare owners, but are also experts at convincing others that reports such as this one are invalid. Although they may not have many "unresolved disputes" with the Better Business Bureau, do not let that fool you. They have many loopholes for pulling complaints out of the BBB so that it does not affect their rating.
James Ryan
Orlando,Florida,
U.S.A.
Report about Blue Bay Advisors is totally misleading and incorrect !!
#6UPDATE Employee
Fri, December 14, 2007
After being advised of this erroneous report by a potential customer researching our company, I would like to address the this "report" and provide the CORRECT information!
1 - After reviewing our Customer List for Bill Clark and our entire Sales team, there is no customer with the initials "MK", nor any client that lives in College Point, NY.
2 - We have terminated Bill Clark for violating our company policies, none of which were related to Sales ethics.
3 - The customer detailed how he is unable to contact us, which is incorrect. We have recentlty expanded and upgraded our phone system. Our phone line was down because of a mechanical problem and fixed within 24hrs. Our toll-free #1-866-728-9735 absolutely works and you can call me directly at any point and I will indeed answer(ext 222).
4 - As for not receiving a Contract, it is possible since we have NO customer name or address that matches the person that filed this erroneous report.
I would like to note that the customer that pointed me to this website still signed a Contract with our company after our researching us with the BBB.
Thanks for yor attention and I hope that any reasonable person will make decisions based on the facts.
Thanks