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Global Sales & Marketing L.L.C.

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Global Sales & Marketing L.L.C. Reports & Reviews (1)

- New Providence, NJ, USA

A representative from Global Sales and Marketing LLC (GSM), a company that represented itself as a timeshare acquisition and sales business, left a message on our home phone stating that they had a buyer for our time share in Mexico. We negotiated and revised a number of documents with GSM related to the sale of the property in the process. Once the documents were agreed on between GSM and us they were forwarded to the title transfer company, Astra Closing Group (ACG). ACG provided us with a bank statement from Banco Santander (Mexico) SA showing the money for the transaction being held in an escrow fund. They then informed us that because we were not Mexican citizens that we would be required by law to be registered as Foreign Investors in order to legally derive income from that country. Then the representative from ACG, *** ***, stated to both *** *** and us that we would need to be registered as a foreign investors before we could proceed to close. The fee for the registration was 4.6% of the total amount of the transaction or approximately $7,300. This fee was to be reimbursed by the buyer in accordance with our signed agreement. However, it is important to note that they stated that the money could not be reimbursed until the whole transaction closed.

After wiring the money to CCT Compliance Corporate Timeshare, SA DE CV, the title company provided documents showing receipt of funds and the certificate of registration as a foreign investor. Both *** *** and *** *** used multiple contracts, addendums and what was represented as separate title company (Astra Closing Group) to process the closing. These two entities were supposed to be unrelated, but as it turns out Global Sales and Marketing LLC and Astra Closing Group both refer to the same individual (*** ***) as the Business Management. I became very concerned when they came back with yet another need for money in order to get a S.R.E. permit, which was related to a new tax reform law that went into effect on February 1, 2017 stating that any property that was within 100 kilometers of the international border or within 50 kilometers of the seacoast would be required to have this new permit. The fee for this permit was forwarded to us on a Mexico form 5P1A004 and reflected an amount of approximately $12,000, which was to also be reimbursed by the buyer in accordance with the revised closing addendum. This money was not wired after noticing some minor discrepancies in the form forwarded from ACG versus the online form available from the Mexican government. I became suspicious at that point and have stalled providing any additional funds until I am reimbursed for the initial funds. At this point I am not sure they believe that we suspect them of foul play.

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