In April, 2010, my wife and I attended a timeshare presentation at the LaJolla Resort in Mazatlan. During the presentation, an offer was made to either sell, or take ownersnhip of my timeshare in Mesa, AZ., within 90 days or the purchase price of $13,600 would be returned. The salesperson (Mr Alfredo Maarq, who represented himself as a part-owner of LaJolla) stated that our purchase price would consist of a "bridge loan" that would be held in escrow until the 90-day sale was completed. He further stated that no money would be utilized for commissions, payment toward the points purchase uring this period. I returned home to Sioux Falls, SD., to find that the completed purchase of the LaJolla time share/points was completed the day after our signing. Needless to say, I made an immediate effort with Bank of America to cancel the entire transaction, but was told they could do nothing as they had a responsibility to the seller. This, even with evidence they had violated the terms of the sale. Needless to say, after the 90 days, my Mesa property had not been sold or transferred to LaJolla and none of my initial payment had been returned. I attained services of an attorney who communicated with LaJolla, only to be told that this transaction was made in Mexico and any resolution would be addressed only in Mexican courts. I have notified and filed a complaint with PROFECO, the Mexican agency whose purpose is to assist in resolution of disputes involving foreign citizens. To date, no judge-ment/ resolution has been made. Direct communication with both Mr. Maarq, or Francisco Kelly, Asst. to the Owner, have been unsuccessful as they have not responded to my request for negotiation. At this time, I have chosen to present my story to available media to let as many as possible know that dealing with LaJolla will result in loss of money paid upfront and peresons who do so are at great peril to attempt to recover any money invested.
My attorney and I have both communited in writing to the Bank of America regarding this situation and have had no response. I am presently preparing a detailed summary of all financial aspects of this transaction and will forward same to the office of Senator Tim Johnson, SD, requesting a determiation if any banking laws have been violated. Review of other internet reports involving LaJolla and the Bank of America's failure to act even when evidence was provided showing that LaJolla failed to honor written contracts reflects the Bank of America's lack in assisting consumer's in resolving such disputes.
At this point, I am still out of $13,650, plus additional foreign transaction fees (which were not disclosed) and monthly interest payments on a contract that was only to be for 90 days in an escrow account. THEREFORE, BUYER BEWARE WHEN DEALING WITH BOUTIQUE RESORT LA JOLLA, MAZATLAN.
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