Escrow Services
America Holdings CompanyFind BBB Accredited Businesses in Escrow Services.
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This business has 1 alert.
Alert
BBB opened an investigation on America Holdings Company in November 2016 after receiving inquiries from consumers who were referred to the business after attending a timeshare presentation at Marina Residences in Mazatlan, Mexico.
According to contracts submitted by a customer, America Holdings Company was to act as a transactional escrow agent in the sale of an existing timeshare property owned by the customer. After signing the sales agreement, customers were asked to pay a percentage of the sales amount to avoid capital gains tax and were advised that this amount would be reimbursed after the closing. This fee was not disclosed in the sales agreement. After the first fee was paid but before closing, customers were asked to pay thousands of dollars in additional fees to cover items such as transfers and Foreign Investment Registration Fees. The contract supplied states, “All monies given today will be held on escrow until closing. If closing doesn’t take place all monies will be refunded 100%.” However, customers who contacted BBB reported that even though they chose not to proceed with the sales contract, they were denied refunds or were advised that only a percentage of the fees would be refunded.
BBB has been unable to confirm the location of the business in Cincinnati, Ohio. Mail sent to the address of 1 East Fifth Street has been returned as undeliverable by the Post Office. Additionally, BBB contacted the building management and was unable to confirm that America Holdings Company is a tenant. The business has not responded to mail or email communications from BBB to provide background information about the business. However, as of January 30, 2017, BBB confirmed that the business did remove an unauthorized BBB Accredited Business Seal that was previously displayed on their website.
Important Information
Additional Info
Paperwork submitted by a customer indicated that 20 weeks with Travelers Choice International was added as an additional gift. A separate BBB Business Profile on Travelers Choice International is available from BBB|Nebraska.
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