I accepted an offer from Sierra Rentals and Resales to buy my fractional ownership week at Velas Vallarta for $13, 900. In order to proceed with the sale, I prepaid the closing costs of $1195, which were supposed to be reimbursed at closing. I also paid a foreign investment tax of $695 to the state of Jalisco, in order to certify the title and escrow file. Payouts were to be made in October, after we were told that the required number of units had been obtained to sell all 52 weeks. But the payout never came, and now all emails are being returned and all phone numbers ring busy or are no longer in service.

Beware of this company they have scammed MANY people and their web site just disappeared one day - I just checked it and it is back online!!! DO NOT DEAL WITH THESE PEOPLE - DO NOT PURCHASE THEIR "MEMBERSHIPS" - THEY ARE JUST OUT TO SCAM YOUR MONEY. I have been taken by these people and hopefully by posting this it will help someone from being a victim of this scam.

I purchased my vacation weeks package from The Royal in Cancun back in 2007. A few months later we signed up to have Sierra Rentals and Resales try to sell our weeks over the next three years. The resale company came highly recommended by the Royal in Cancun resort so we trusted that it was a reputable company. Two and a half years went by and nothing sold. I chalked it up to the bad economy. A few months back Sierra called us and said that they had a corporate buyer who wanted to purchase complete packages of weeks. They wanted a small paperwork processing fee up front to proceed with the sale. I was going through a real estate sale and purchase in the United States and this sounded like a legitimate deal. All of the contracts also looked good. Things were processing with the sale according to the timeline they gave us. We were contacted by Greg Daniels from Sierra mid September 2010. He told us that we were ready to close on the sale and that the final step was to pay our property taxes of approximately $1200 USD. I was hesitant but told that this was the only way to release the title on our property and proceed with the closing. I wire transferred the money on October 1st. After 4 weeks I decided to shoot Greg and email to check on the progress of the deal. On Oct 23rd my email came back as undeliverable. Every email since has been undeliverable. The website no longer exists and the phone number has given me a busy signal every time I have tried calling since this weekend. I feel like a complete idiot. I thought that this was legitimate since I hired Sierra in the first place to sell off my weeks. When they contacted me with a buyer I was happy that they were finally doing the job that I had hired them to do. I am sharing my story to find others that have been screwed by this company and to prevent others from making the same trusting mistake. If there is any chance in preventing this company from taking advantage of people moving forward we need to band together.