Escrow Services
Old Stone Escrow ServicesFind BBB Accredited Businesses in Escrow Services.
About
This business has 1 alert
Important information
- Believed to be out of business:According to information in BBB files, it appears that this business is no longer in business.
- Additional Info:Mail sent to the business on 04/09/2018 was returned by the U.S. Postal Service as Undeliverable as Addressed.
About This Business
Since that time other consumers across the country have reported similar experiences.
A Minnesota man reported paying $2475 by wire-transfer while a New Hampshire woman reported paying $1898.00 by wire-transfer. Both consumers reached out to BBB after the company, Old Stone Escrow Services, asked that additional funds be sent.
The website, www.oldstoneescrow.com, and documents obtained by BBB indicate this company, Old Stone Escrow Services, is located in Cleveland, Ohio.
The website, www.midwestgeneralpartners.com, and documents obtained by BBB indicate the other company, Midwest General Equity Partners, is located in Chicago, Illinois.
Both sites, www.oldstoneescrow.com, and www.midwestgeneralpartners.com, were created on the same date, 01/25/17, have a 1 year expiration and are registered to an address in Australia.
BBB was unable to locate any business filings for either company listed with the Ohio or Illinois Secretary's of State.
The leasing company of the Cleveland address listed on Old Stone Escrow Services' website has also confirmed they have no such tenant.
BBB and the Federal Trade Commission (FTC) advise consumers to proceed cautiously before allowing someone to sell their timeshare.
* Check them out before you agree to pay them any money.
* See if the state Attorney General, local consumer protection agencies, or the Better Business Bureau in the company’s home state have complaints about them on file.
* Search the company's name online with the words “complaints” or “scam.”
* Deal only with licensed real estate brokers or agents.
* Check with the Real Estate Commission in the state where your timeshare is located to make sure the company has a current license.
* Deal only with licensed escrow companies. Check with the Department of Insurance in the state where the escrow company is located to make sure the company has a current license.
* Get all terms in writing before you agree to anything. That includes services the company will perform; timing of the sale; fees and commissions; and cancellation and refund policies.
* Remember, if a company says you have to act now or you might miss out on a buyer, it’s not a company you want to do business with.
* Consider doing business only with a company that gets paid after the timeshare is sold.
* Never wire money or pay in cash.
* Be alert to a repeat scam. If a company offers to help get your money back from a timeshare resale scam but wants you to pay them before they do anything for you, walk away. This is a classic setup for another scam.
This review will be updated as more information becomes available.
Business Details
- Local BBB:
- BBB Serving Greater Cleveland
- BBB File Opened:
- 3/10/2017
- Alternate Names:
- Midwest General Equity Partners (aka MGEP)
- Business Management:
- Benjamin
- Mr. Richard Cohen, Designated Escrow Officer
- Mr. Thomas George, Broker
- Mr. Mason D. Boyer, Broker
Additional Contact Information
- Fax numbers
- Other Fax: (216) 674-6033
- Additional Phone Numbers
- Other Phone: (312) 883-9951
- Additional Email Addresses
- Primary: Email this Business
Additional Information
- Business Categories
- Escrow Services
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