OWNER ALERT
Owners have recently reported receiving unsolicited phone calls cllaiming to be working on behalf of Coral Reef and/or RCI, and tells the owner they have a buyer for their week, and asks them for their deed, or a quitclaim deed. Is some cases the caller indicates that they are a "bailout" or "relief" agency. In many cases they ask that the owner pay a "transfer fee". If you recieve a suspicious call please call the resort front desk 727-363-1604 or sales department 888-711-4422 toll free to report it, or send us a message. The resort manager or broker will be happy to discuss any concerns you have. Click here to view an alert released by RCI.
The Coral Reef Beach Resort does not solicate or telemarket. The only valid phone numbers for Coral Reef resales are 727-363-1604 (front desk) or 888-711-4422 (sales department toll free #).
PropCo Real Estate represents the Coral Reef Beach Resort condominium association sales and owner resales. No other agent or broker is authorized on behalf of the resort to conduct timeshare sales at Coral Reef. All transactions conducted at Coral Reef Beach Resort are handled by a licensed broker and closed by a licensed attorney.As an owner you are not obligated to use the resort resale department to sell your ownership, but please protect yourself and make sure the people you are dealing with are licensed by the state of Florida. It is a felony to practice real estate without real estate license. Anyone acting on behalf of a buyer or seller must have a CURRENT and ACTIVE real estate license. Consumers may report unlicensed activity toll-free to the Florida Division of Real Estate at 1.866.532.1440 and Check a license here.
TIPS FOR USING THIRD PARTIES:
Do NOT do business with anyone without researching the company. Take their name and phone number, and tell them you will call them back. If that is not acceptable to them, they are likely not legitimate.
Do NOT send anyone a Quitclaim Deed, unless you verify the company is legitimate and properly licensed. We advise using Warranty Deeds instead of Quitclaim Deeds.
Do NOT send cashiers checks or money orders to anyone, you will not have any recourse! Only send funds to title companies, escrow companies or licensed brokers. It is illegal for anyone else to hold escrow funds for Florida real estate.
If you are buying a week, verify that the unit/week is current and does not have any leins or outstanding fees - if it does you will not be able to use your week until the fees are paid. In the case of transfer scams, the owner is led to believe they do not own the week anymore. If the "transfer company" is unable to locate a buyer, it will remain in your name and you will still be responsible for it.
Improper tranfer of title can result in a seller remaining liable for maintence fees, etc or a buyer not being able to use their ownership.
When in doubt, call the resort and ask!!!!
FROM THE FLORIDA DIVISION OF REAL ESTATE:
"Florida law generally requires that sellers use a resale purchase agreement that complies with the requirements of section 721.065, F.S. That section requires that resale agreements contain certain disclosures to the buyer concerning the current amount of annual assessments, property taxes, delinquent assessments, and late charges (if any), the first year in which the purchaser may use the timeshare, as well as a 10-day contract cancellation period. Failure to include the required language in the resale contract automatically makes the contract voidable at the option of the purchaser for a period of one year after the date of closing."
NOTICE:
Sandi King and her assistant Greg are no longer affiliated with Coral Reef as of June 1, 2010. Customers working with them will be serviced by their supervisor. Please call 888-711-4422 or 727-363-1604 with any questions.